Where are the coins from an auction 25 years ago?
philographer
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Let’s take the entire coin inventory from a nice auction devoted to coins. Let’s say a Goldberg coin auction from around 1994 or so. Well illustrated catalog, good descriptions, color photographs. Let’s say there were 800 lots, many amazing.
A few questions about these coins. Please allocate percentages among a few of your favorite categories below:
WHERE ARE THEY NOW?
A. % in collections owned by active collectors
B. % currently in dealer inventory
C. % in estates, they know what they have but haven’t dealt with it yet. Perhaps in the safe deposit box.
D. % in estates, they have no idea what they have. Perhaps in a shoebox or at the bottom of a trunk.
E. % Lost and never to be seen again
F. % Other — please explain
(Edited for complexity!)
He who knows he has enough is rich.
Comments
I will tally results this weekend and publish a summary
He who knows he has enough is rich.
1994 was less than 30 years ago.
To me there is no clear-cut answer but here are my thoughts:
Where are they now? A or C. I think most are owned by active collectors (60%) but several are in Estates (40%).
The holder? A or B. The Estates have the old holders (40%) and the collectors have likely had them regraded and/or re-slabbed (60%).
The price? A. Many have gone up in value, significantly, especially key dates (almost100%).
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
It’s been a long week and it’s only Monday!
He who knows he has enough is rich.
I remember bidding on some coins in an auction 25 years ago. I have them tucked away in my collection. They have not been back to PCGS. They have not seen the inside of CAC. They just are what they are, hanging out with the occasional new addition.
I'll give a "0%" for every answer, which I say is correct. Now, why?
Ed. S.
(EJS)
Way to complex .... Let me just say, that any coins I acquired in 1994 (or during the prior 30 years) are still here in my possession....and will remain so. Cheers, RickO
E. 1% in storage -- never to be seen again..
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
I have a coin in my collection that I bought in 2010 and it hadn't come up for auction since 1996. So, it's only seen the light of day once in the last 23 years. It's in the same old holder and it hasn't been to CAC either. I have no plans to sell it.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Many are around, many are in long-term collections, many have been dipped and stripped
Latin American Collection
I have a coin purchased in the 1999 Bass Sale, still in my collection.
End Systemic Elitism - It Takes All of Us
ANA LM, LSCC, EAC, FUN
I think maybe 30% are currently in collections owned by active collectors.
Probably another 25% are in Dealer inventories.
10% in estates that are dormant.
20% in estates inherited where the new owner doesn't know/trust anyone to liquidate.
I'd think 15% at minimum have been ruined or spent by people who didn't know about coins.
I cannot think of another reason for coins disappearing other than the typical bullion melting.
F.................................Unless it has a provenance Eliasberg, Bass, etc. "snap, crackle and pop into a new regrading holder"
Multi-generational collections are dwindling as newer generations acquire them through inheritance. In recent years the auction firms are seeing more "off the market since..." coins. Perhaps the lure of a quick buck or that coin collecting in general is of no interest. Whatever the reason, I wouldn't say that's a bad thing.
I have more than a few from Bowers and Merena auctions 35 years ago.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
I think most coins are in collector's hands at any given time. That begs the question what percentage of coins are sold every year or in dealer inventory. I'd be curious to learn as well.
Over the 8 years I've collected, I've sold between 2-5% every year as a result of upgrades, churn, and gradually changing focus. Most of the keepers...I've kept.
I'm not a Goldberg tier collector, but I don't see things changing much as my tastes get more expensive.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
I think C and D are rather small percentages. 25 years ago, given an age 40-50 active collector demographic, means they're all 65-75 now, and mostly (I hope) not dead. Of the ones who are dead, I suspect there are very few "unsettled" estates. The majority fall into category F: "% in collections owned by inactive collectors".
Located them!
My YouTube Channel
Many in investor or dealer inventories. Many probably thru slab mill multiple times. Others in the hands of the end user (highest bidder / payer).
Many rattlers and OGH cracked sent for possible upgrade now in new gen holders in possibly some dealer inventory.