Options
Meanwhile, in the art world . . .
RockyMtnProspector
Posts: 754 ✭✭✭✭✭
https://theguardian.com/artanddesign/2017/nov/15/leonardo-da-vinci-salvator-mundi-auction?CMP=fb_gu
Will a coin ever reach such heights? What would be required to reach the $100,000,000 level? Just asking for discussion purposes from the folks here who have been at it longer in numismatics.
Seems like the 9 figures is out of reach for virtually all other forms of collectibles, save art. I'm sure inflation will help get things to the billion-dollar level some day in that realm.
GSAs, OBW rolls, Seated, Walkers. Anything old and Colorado-focused, CO nationals.
Gonna get me a $50 Octagonal someday. Some. Day.
Gonna get me a $50 Octagonal someday. Some. Day.
0
Comments
Size matters. Displaying a silver dollar at the Louvre will not catch all that many eyes.
In coins vs. art, perhaps. But Da Vinci's art is not all that large--the Mona Lisa is fairly small and was surprising to see in the Louvre in person. There are grand canvases in the Louvre that dwarf the Mona Lisa, but would go for far, far less (not that the Mona Lisa would be sold).
In this case, even the attribution is not completely certain. Yet as the only privately-owned Da Vinci, the opportunity was apparently too good to pass up, and crushed the second place sale by nearly $300 million.
Gonna get me a $50 Octagonal someday. Some. Day.
IMHO, part of the pricing difference is that coins (and medals) are supposed to be mass produced objects, as opposed to the 'uniqueness' of a painting.
This painting does seem to compare to the previously 'lost' fifth 1913 Liberty nickel, in that both have some provenance "issues".
"And to critics, the astronomical sale attests to something else — the degree to which salesmanship has come to drive and dominate the conversation about art and its value. Some art experts pointed to the painting’s damaged condition and its questionable authenticity."
https://nytimes.com/2017/11/15/arts/design/leonardo-da-vinci-salvator-mundi-christies-auction.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=second-column-region®ion=top-news&WT.nav=top-news&_r=0
Gonna get me a $50 Octagonal someday. Some. Day.
I could see the Louis XVI gold Libertas Americana (if it still exists and the provenance is rock solid) well into 8-digits. Maybe not $100m but who knows.
our rarest coins are still cheap. we need to give these super collectors more confidence. then one day either TDN's 1794 $1 or J-1776 will be easily $25 million
can't have silly little games like gradeflation or coin doctoring not under control
The Mona Lisa was fairly unknown by the public until 1911 when it was part of an art heist.
Only then was it catapulted into the spotlight.
Chris
What a bubble economy, a lot of huge money willing to chase these very rare collectibles for status, or possibly investment, but what happens when the economic cycle reverses, probably suddenly? Great art is what the super rich, museums and the like go after.
Marketing efforts apparently pay off when dealing with the Upper 1% of the Upper 1% of the Upper 1%.
Such efforts can also pay off when selling coins to merely the upper 1%. Expect to see many such efforts in the future.
Art is far more of a status symbol than coins..... People outside of numismatics can look at a coin and say "Oh, a coin... ".... Whereas, even those who are not art aficionados, feel compelled to admire, and often discuss, a painting or sculpture. When done by a noted artist or old master, a piece becomes even more interesting. This, combined with uniqueness (i.e. not mass produced), propels the monetary value far above coins... and it will always be so. Cheers, RickO
Maniacal federal reserve will guarantee a $25M coin. Of course the da Vinci will then be a billion dollar painting.
Interest in high end rare coins is much too narrow to overtake Master works of art. Most folks can name at least a handful of classic artists, few outside of the hobby can name a coin designer.