From a pure $ standpoint, if you had all 5 1913 Nickels would you melt four of them?
BAYOUBENGAL
Posts: 100 ✭✭✭
Look to be clear as a collector I cannot afford to buy 1% of one of them and would never destroy a rarity, BUT would one 1913 be worth more than 5?
BAYOUBENGAL
CFA, LSU AND ANA
CFA, LSU AND ANA
0
Comments
No. A complete set of 5 would be more valuable.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I don't believe that a single example of a '13 would end up being the most expensive coin in existence.
No I would melt none of them
I have to say I think 1 would be more valuable. Think about game theory and competition, all you need is two wealthy collectors and the single coin goes for $20M. Famous paper Written in 1970s on competitive defense contracts. Before then all were negotiated, showed when you add one competitor price goes down by 60%, Same for auctions, look at eBay where two people want the same thing for a rare item. Or in the art world when a famous painter dies. Two Hansen’s and the coin goes for $50M.
CFA, LSU AND ANA
One of the five nickels was thought to be lost at one time. When it was rediscovered, did the value of the other four fall?
No Way! I also believe its illegal to melt nickels along with copper pennies.
Collector
87 Positive BST transactions buying and selling with 53 members and counting!
instagram.com/klnumismatics
Good question on the 4 to 5 find, others may know. And to b e clear I am NOT advocating or asking if you would melt them as a moral question, I would not, be wrong for the markets, just curious on $ value.
CFA, LSU AND ANA
A.) I would never destroy important numismatic history in an attempt to make some money.
B.) There is a certain dynamic between rarity and availability that affect the value. If there is only a single coin it is unobtainable for all but one person, but five means that a few people can compete for one. I think there are a few US coins with only a single know example surviving, but aside from the 1933 St. Gaudens, I can't name them. I can, however, easily recall the five known 1913 Liberty V nickels.
I would guess you would make more $$$ off 5 than 1.
Also if you had all 5 you could control the price.
Let's assume that theory would result in the one being more valuable.
It wouldn't work unless everyone knew the others were destroyed.
Great transactions with oih82w8, JasonGaming, Moose1913.
NO!
Obviously make everyone think you destroyed 4 or they never existed. Sell the 1. Have the rest show up 1 by 1 via friends. That gets you the most $ and is not so different to games already played.
Some great counterpoints but to be clear, assume you could prove only one left, no tricks, and assume it is legal to destroy 4..not that I would do it, economically would it be more$?
CFA, LSU AND ANA
No
I think coins like this go into "strong hands" (is that the term?) for long term holding. If a few more were available then the competition among bidders could still occur for one of a few of those. I think the total value would be higher once the dust settled.
From a pure $ standpoint I would keep them and sell them one by one over a span of many years. Loan the choicest one to a museum with the provision my heirs could take possession after X number of years.
From a numismatic standpoint also I would never melt an iconic specimen, and I would let the word out the number that exist.
So I would do both as the almighty $ as we all find out eventually is overrated.
This is a silly discussion. So you're taking the risk that melting ~$15-17M in rare coins could make the one remaining coin worth more than all of them combined?
You could always just stamp your initials into it or something
What would work, IMO, is to melt the 6 worst 1884 trade dollars if you owned all 10.
What you should do is film yourself swallowing four of them. Sell the other one and you'll still be the most valuable man alive. Fun bonus treasure hunt for your kid somewhere down the line.
I think they’re worth more as an extant group. If there’s 5, and your a billionaire, maybe you could own one and watch the market for one and make offers and generally keep buzz going around their existence. If there’s just one, you’ve got one shot. Even if you’re a billionaire, you might be willing to pay $3-5M for one of 5, but does the coin really become 5 times more precious to you if some moron melted the rest? I’m just a thousandaire, but I’d probably not take that risk.
If you were going to play that sort of game, you'd probably be better off whizzing or doing graffiti on the lesser four coins. That way you could recoup at least some money for them, plus it wouldn't be illegal. I'm not endorsing such a strategy, to be clear.
No way.
It would be a travesty.
Besides, if you had all FIVE you could name your price, because you'd have cornered the market.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Its an awful idea. The ultra rarities derive much of their value from the stories that come with them. This story stinks.
I feel like a person who'd want to melt 4 to have the 1 survivor is the person who'd instead announce to the world he'd merged them into one new "super" coin.
“Besides, if you had all FIVE you could name your price, because you'd have cornered the market.”
Exactly! You would have all of them but same is true if only one existed and for the 4th time I agree its morally wrong and would not do it, so HYPOTHETICALLY I go to Canada and on live TV with representatives from all 4 big accounting firms and four Priests a Nun and A Rabbi and Iman, I melt 4 of them.... Name my price on #5..
CFA, LSU AND ANA
nope
Coin sale at link below
https://photos.app.goo.gl/wS6r94r66BAJV3zC6
De Beers keeps diamond high by buying all they can and holding them off the market. I would think a similar strategy would be the best bet.
If I had all five 1913 Liberty nickels, I'd arrange for PCGS to create a special large slab to house all five coins as a set. I would then display it at large coin shows to share it with fellow coin collectors and the general public who may attend the show. It would be the world's most valuable slab and it would be an extremely cool display.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Nope
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Nope.
Smarter thing to do is don't tell anyone you have all of them and sell just one every ten years.
You'll make a killing.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Huh?
No..
Why...
The 1913 nickels are contrived rarities IMO and should not be considered as federally issued coins....... more like unauthorized fantasy pieces made from materials and on equipment owned by the people of the US. Unlike other great rarities, I wouldn’t be bothered much if all five were destroyed.
To answer the OP’s question, as a financial play, I think melting four of them would be idiotic.
If you fused them together, you could have a 1913 Liberty Heads Quarter
Look what happened to the 1933 Double eagles. Melting and confiscating had the opposite effect on coin, collectors, value and collectibility.
No. One would not be worth what the 5 are, even if you only preserved the finest one. Four might, though. Publicly melting only the lowest quality one and then announcing you'll keep going might bring some urgent buy offers that could make up for the first being lost, though.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I would think such an exercise would be seen as wanton greed and shunned by deep pocket collectors. It would be a 'created' situation and clearly demonstrate greed and wanton disregard for the hobby. Cheers, RickO
Just like the striking of the 5 coins in the first place.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
No
Maybe if done as a hostage situation. Melt one livestreamed on Youtube, start a bidding war to rescue the other four from an insane collector 😂
It would be very cool to convert two of them into a two headed magician's coin.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It probably would be the best thing to do. I can't think of anything else. I've always thought about what I would do if I had all five of them. Now I know. Thanks for the great idea!
I concede, I have changed my mind, not a good idea to go from 1 to 5 from a $ or moral perspective, thank you, now can I enlist a few of you to work for me on some issues with my wife, because I can never change her mind
CFA, LSU AND ANA
That is ridiculous. I would never melt them.
I would put 4 of them on a railroad track instead.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
It's more prominent than currently cheaper unique US coins but considering the scarcity, isn't really that hard to buy as it comes up for sale every few years. This is the best indication that those who buy it aren't really that interested. They may have dreamed of owning it as a YN and buy it when they become wealthy but lose interest. This as opposed to others (such as from Partrick, Newman and Pogue) which are owned for decades.
No, but it would likely be financially prudent to do so.
Dave
Once upon a time, Col. E.H.R. Green owned all five 1913 Liberty Nickels.
No