How does a good story associated with a great coin enhance its value?

bidask · July 20, 2013 11:24AM

In the recent sales this year of the 1913 liberty nickel and now the 1894 s dime it seemed the subsequent buyers were partly motivated to purchase
the coins because of the great story associated with them.

I don't know all the details but I'm curious.....

Is it really about provenance?

How great does the coin have to be ?

How great does the story have to be?

Are the two inseperable?

Are there great coins without a story?

MrEureka · July 20, 2013 11:30AM

All of these things are important. None of them is essential.

Sonorandesertrat · July 20, 2013 11:51AM

Great stories are just a form of marketing. They do help, but aren't essential when the coin is known and important.
They are crucial otherwise. John Ford certainly was a master in this regard.

ricko · July 22, 2013 6:57AM

I find some stories interesting, none are required for me to buy a coin. I judge a coin strictly on how it appeals to me. Cheers, RickO

timcoin · July 22, 2013 6:59AM

It is only important if you can convince one of the grading services it is legit

LochNESS · July 22, 2013 7:00AM

Lots of collectors are in it for the history. Sometimes it's sentimental value, often it's cultural history or communal. Maybe it reminds them of childhood or major events. But the story always adds value.

Pedigree always brings a premium, if that's what you meant.

BryceM · July 22, 2013 7:45AM

To me the story is very important.

I don't collect commems, but I simply had to have a couple of Pilgrims when I found out my 1st cousin, a few times removed was the designer. The family connection adds tremendously.

I bought a Flowing Hair Dollar through Mark Feld and tracked down the story of an old guy who brought it in to a coin shop as a pocket piece. I was able to contact the owner of the shop (SmallTownCoins) and he sent me the old ANACS photocert that the guy gave him with the coin. That provenance isn't world-class, but it adds to the "fun" of having the coin.

Tiny · July 22, 2013 8:03AM

The Redfield story seems to have enhanced the value of those coins. Many stories about the origin of coin as designated on the
labeling of TPGs will bring a premium for the coin and I like these stories because of the ways these coins have been passed around
for long periods of time. Here are a couple of other stories that may not be so famous and are one of the reasons I like to collect
the many different pedigree collections and hoards of U.S. coins and paper money.

Teich Family Collection – An extensive and high quality collection assembled by Dr. Samuel Teich and his family in the 1950’s and 1960’s. Dr. Teich first became interested in coin collecting while on a vacation with his family. The proprietor of the inn where they stayed was a collector and introduced Dr. Teich to the hobby. From there, it became a life long enjoyment. In 2013, Heritage Auctions brought much of the collection to public auction.

Wailuku Hoard and Waikiki Hoard – During WWII, American citizens of Japanese heritage were detained in internment camps. The Yamaguchi brothers, having survived the bombing at Pearl Harbor, fled to Canada to avoid detention and remained there until after WWII. When finally able to return they put away many keepsakes and items including US paper currency labeled as the “Wailuku Hoard”.

And one of my favorites.

Tuscaloosa Collection – In the late 1990’s, 3 miles outside of Tuscaloosa, Alabama, a man discovered a hoard of gold and silver coins while digging a hole for a fence post he was building on his property line. The hoard consisted of 276 coins dated from 1746 to 1860 (8 US gold coins, 195 US half dollars, 66 US quarters, 4 Mexican silver coins, 2 French silver coins and a single counterfeit Seated Liberty half dollar). There was only 1, 1860-O quarter and 1, 1860-O half dollar with all remaining coins being older. Based upon this and the fact that the steel box the coins were stored in was severely rusted and the cloth bag decayed, it is believed that the coins were buried during the Civil War. Several theories developed as to how and why the coins were hidden in this location, but no one really knows for sure. The original owner was never identified.

Justlooking · July 22, 2013 8:07AM

Rarity drives the price. The stories are fun for those of us who can only dream.

COALPORTER · July 22, 2013 8:42AM

I think coins like this really drive the whole hobby. They are off limits to almost all collectors and
even most will never even see them. It keeps people chasing the dream and the juices flowing!

keyman64 · July 22, 2013 8:54AM

<< <i>Rarity drives the price. The stories are fun for those of us who can only dream. >>

I agree. The coins with stories are frequently rare to begin with...or at least in high demand!

1792
1804 $1
SS Central America
1894-S Dime
1913 Liberty Nickel
1933 $20

Stuff like that comes to mind.

MidLifeCrisis · July 22, 2013 9:27AM

It's a combination of all these factors:

1. Popularity

2. Rarity

3. Eye Appeal

4. Story

I think that's also the order of their importance.

Tiny · July 22, 2013 9:40AM

Oops
Wrong thread

donzme · July 22, 2013 9:46AM

For me, if the story captures my imagination, I'd want a tangible part of that story. I can see a "story premium" in some coins.

MidLifeCrisis · July 22, 2013 9:49AM

<< <i>It's a combination of all these factors:

1. Popularity

2. Rarity

3. Eye Appeal

4. Story

I think that's also the order of their importance. >>

Of course, a coin often becomes popular because of the story.

savoyspecial · July 22, 2013 9:53AM

in regard to Mark's list, here is the ranking I give:

1. Popularity

2. Story

3. Eye Appeal

4. Rarity

How does a good story associated with a great coin enhance its value?

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