Two bits to add. First, the market for "investment quality coins" was probably down more like 80% at the time. (Just my guess.) Second, Sconyers' buying literally turned the market around on a dime. Hard to believe for us today, when $10 million might be barely enough to buy a few trophy coins, but even $1 million was huge money back then.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
That is a great story, it reminds me of that story in the Ford catalogs where JJF ripped into Harry Forman for trying to sell him crappy inventory (some Hawaiian notes, I think it was).
It just goes to show that the great dealers have to pay their dues like everyone else.
Comments
Two bits to add. First, the market for "investment quality coins" was probably down more like 80% at the time. (Just my guess.) Second, Sconyers' buying literally turned the market around on a dime. Hard to believe for us today, when $10 million might be barely enough to buy a few trophy coins, but even $1 million was huge money back then.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
It just goes to show that the great dealers have to pay their dues like everyone else.
Experience the World through Numismatics...it's more than you can imagine.