Have you ever considered hoarding a particular coin type or date?

Singapore · May 28, 2003 3:39AM

I have.

1922 no D Lincolns. Or maybe some rare colonial or something like that.

From what I've read, most people who do this end up taking a bath at the end, maybe because when they ultimately need the money they end liquidating 42 of them at the same time, which is no longer a hoard, but a glut.

Didn't some guy try this with 1793 Liberty Cap cents?

baccaruda · May 28, 2003 3:49AM

right now i'm starting a hoard of junky cars that don't run. i'm thinking of building an "automobile stonehenge" in my back yard.

dan1ecu · May 28, 2003 3:53AM

Sounds like an expensive idea. Whether or not you could make money doing it, I don't know.

Baccaruda - an "automobile stonehenge" would probably make the national news. Go for it!

prooflike · May 28, 2003 3:55AM

Yes, I've thought about hoarding those 1913 nickel things they have been talking about in the news

Catch22 · May 28, 2003 3:57AM

No, but if the coin market continues it's run-up, I would expect to see a few hoards start to surface.

MadMarty · May 28, 2003 4:02AM

I would hoard AH Kennedy's, but Russ has them all already!!

nwcs · May 28, 2003 4:22AM

Yep, thought about it with 20 cent pieces. But it'd be way too expensive for me.

jadecoin · May 28, 2003 4:26AM

We have a client/friend who "hoards" 1822 dimes. There are several people attempting to corner the market on 1822 dimes, but they usually start to slow down when they hit 10 coins. Regarding colonials, I understand that there's a person(s) in New Jersey who is hoarding high end New Jersey coppers. Of course, Singapore probably knows who I am talking about.

ms70 · May 28, 2003 4:26AM

I thought about that with D/D or D/S Buffalo Nickels. I figured it would drive up the demand/prices and I would be rich!!!

Mmmmmbwahahahahahaha!!!!!

But it was just a thought & I don't have the money to even attempt it.

coincollector1989 · May 28, 2003 4:27AM

Mine would be AH Kennedy's, I take what Russ doesnt find.

AbesNeighbor · May 28, 2003 4:27AM

I was going to hoard all the 11 d indian $2 1/2's until I bought my first one...Then I was tapped out!

Dan

Barry · May 28, 2003 4:46AM

A few years ago I had the crazy idea of developing a hoard of 1874-CC dimes. It's the key to the series, and there are probably only 15-20 of them. I got up to 4 of them and after seeing a few others and getting semi-burned by a major auction house on one (a story in itself), I realized:
1. This is crazy.
2. This is expensive.
3. Even though a rare and pricey coin, most of them have problems and I couldn't see spending the money on ugly coins.

So, I sold 3 of them, and still have one in my complete set of Seated Dimes. I did make a decent amount of money from the ones I sold, except the one mentioned above.

ARCO · May 28, 2003 5:03AM

I have tried to hoard Key date barber half dollars but end up with a few dilemnas in doing so. Like Barry said...

<< <i>3. Even though a rare and pricey coin, most of them have problems and I couldn't see spending the money on ugly coins. >>

I agree! I end up selling them because they look like SH*T, and I don't care how rare a coin is if it makes my stomach turn to look at it, then out it goes! I started hoarding 1914 Barber halves and had four examples in very nice VF20-VF35. Each costing about $300+ All of a sudden three more nice VF's are for sale along with two more XF examples in a quick spurt. I don't have the cash (I did, but hell what am I going to do with 9 1914 Barber halves)?

I now hoard beautifully, perfectly original coins in VF or higher regardless of the date, common or scarce.

Tyler

barberlover · May 28, 2003 5:14AM

i'm thinking about hoarding dipped coins so i can add natural yellow toning to them, like the cartoon that was posted here the other day with the kid pissing on them!!!!

coinman2182 · May 28, 2003 5:45AM

I hoard as you call it 1937 Wheat Pennies. I have about 5 Cigar boxes full no clue why but I keep them for myself.

jeffnpcb · May 28, 2003 6:00AM

Proof Cameo and Dcam Roosevelts from 1950-1964 and the DDO's and DDR's in Cameo or Dcam!! Have doubles and triples in this series and maybe one day it will pay off!!!

Oh hell, who am I kidding, that's probably another thing that won't happen in my life time!

jonesy · May 28, 2003 6:05AM

All the low grade 1926S Buffalo nickels. For such a small mintage, they're worthless.

BigD5 · May 28, 2003 6:09AM

I pick up 1880-O morgans. I don't collect Morgans, per say, but I'll grab a decent 80-O if I see one. First date Morgan I ever picked up when I was younger, and the date has stuck with me since.

khayse · May 28, 2003 6:16AM

I've thought about this before. One problem is that it ties up a BUNCH of money.
Also I would think you would need to buy them quickly before the eventual price
rise as they become scarce. By making them scarce you risk "creating" more as people
are now more willing to spend more time finding/slabbing them.

The other thing is how do you get rid of them. Again it seems you'd have to do it quickly (basically
sell a large amount of the hoard all at once before people realize they're not as scarce anymore).

Anyone you sell to you basically burn and you would lose that relationship.

I've also thought of just hoarding them to be a miserly dude.

-KHayse

nucklehead · May 28, 2003 6:24AM

<< <i>right now i'm starting a hoard of junky cars that don't run. i'm thinking of building an "automobile stonehenge" in my back yard. >>

Good thing Cammy the wannabe cop did'nt see this OT post,he's on the warpath today.Anyway call me crazy,but a few months ago I started taking every 1965 Washington quarter that I get in change and throw in one of those oversized plastic beer bottle banks.With a mintage of almost 2 billion it will take some time to corner the market.

gemtone65 · May 28, 2003 6:28AM

I've thought about this on several occasions. And, I informally started on several projects, most notably for R-7 pattern coins, where owning a signiificant portion of the total number minted is not unrealistic. For example, I owned 2 examples of J.1115 (1871 Longacre half in copper), but eventually sold both. (One was PCGS65 RD-- unique.) I also once owned 2 pieces of J.1135, the Longacre dollar in copper with standard reverse. I sold the lesser one (PCGS64RB) for almost $10K 8 years ago. Fortunately, I still own THE best one -- PCGS64RD. Anyway, what happens is similar to the experiences documented in the threads above. Once you have the best, it's not rewarding to acquire pieces of lower quality just to raise the body count. Better to add a different coin of the highest quality.

Conder101 · May 28, 2003 8:36AM

I know of one gentleman that does. The 1803 S-262 large cent was originally rated as an R-5 coin (31 to 75 examples) He felt that it was more common than that so he set out to prove single handedly that it was only an R-4 (76 to 200 examples) So he had to acquire 76 pieces. At last count he now has 105 pieces. Since there are other pieces out there in collectors die variety sets (about 57 pieces in the reported census) and others places (I have three) the rarity is now down to R-3 (201 to 600). But since he has so many of them off of the market it is probably the most expensive R-3 coin in the series. Normally you don't get a premium until R-5 but the S-262 is more expensive than several R-5's.

foodude · May 28, 2003 8:44AM

I have a small hoard of PCGS Jefferson proofs from 1938-1942 in 65-67. I also have a small hoard of 1955 PCGS and NGC 1955 Franklins w/ and w/o FBL in 65 and 66.

Russ · May 28, 2003 8:48AM

I own more than 5% of the entire PCGS graded population of Accented Hair Kennedy halves - so far.

Russ, NCNE

solid · May 28, 2003 9:22AM

I have discovered an interesting die variety for a particular date of a
particular series, and buy them when I find them. Thus far, I have only
a few examples...sorry I can't be more specific right now

These coins are not expensive, and most likely never will be without
some marketing, recognition and acceptance as a desired variety,
but is is fun looking!

Ken

P.S. Don't bother watching my ebay handle for suspicious activity...this
is a clandestine operation!

Bear · May 28, 2003 9:23AM

I hoard Jelly donutes, but only in gem mint condition.

Singapore · May 28, 2003 9:28AM

<< <i>We have a client/friend who "hoards" 1822 dimes. There are several people attempting to corner the market on 1822 dimes, but they usually start to slow down when they hit 10 coins. Regarding colonials, I understand that there's a person(s) in New Jersey who is hoarding high end New Jersey coppers. Of course, Singapore probably knows who I am talking about. >>

Yes, I know the gentlemen. And yes, he has a very substantial hoard of the rarest New Jersey die varieties. Not sure what will become of them - but I know if he can find a way to take them with him when he goes, he will.

So if you have your heart set on a Date Under the Plow Beam NJ variety, my advice would be to raise your hand during the Ford auction this fall and keep it raised for a while.

roadrunner · May 28, 2003 9:31AM

I hoarded every 1858-0 dime I could find in the late 1970's. Ended up with over 20 pieces mostly lower grade. A very underrated date back then, esp. above in VF and higher. After 10 years or so of holding these I dumped them.....for a loss no doubt. At least I still have the best one.

I contemplated doing this for 1867-s seated quarters. For only about $7000 more I could have had every decent UNC coin of one underrated date. There are only three pieces to my knowledge.
I should have done it. AT one time I owned about a dozen circs of this date in F-XF as I felt it was one of the most underrated dates in the series price wise. Still kicking myself for selling a perfect XF45 for $190 to my best friend back around 1983 just because he asked me. I also sold him an 1871s 25c in XF for $200 or so (I made $75 on that one! But at leat I still have one 67-s left for myself.

roadrunner

roadrunner

Barry · May 28, 2003 9:37AM

I've seen written in several places that a collector in Cal. is hoarding hundreds of 1844 "Little Orphan Annie" dimes. I'm waiting for the big selloff before I upgrade mine. Now, it's overpriced because of the hoarding.

jonesy · May 28, 2003 9:51AM

How can you not Love Bear and his Jelly Doughnuts!!

joeyuk · May 28, 2003 10:14AM

I'm not sure why but I started accumulating 1960 proof cent sm/lg and lg/sm date cents. with a pop. of about 200-250 I have about 10 % . Nearly all slabed mostly PF-66RD to a high of PF-68 cam. Joe

FC57Coins · May 28, 2003 10:17AM

Cheap MS65 Frankies from the 60's

BAJJERFAN · May 28, 2003 10:32AM

A gal walks into a bank with one of those big beer bottle coin banks full of change to deposit. The teller asks do you hoard quarters? Gal says no my sister whored a lot of them.

Yup I have thought about hoarding some key date coins.

coinlieutenant · May 28, 2003 10:48AM

I have a good friend who hoards 1909-O Half Eagles.... Yummy....

Sunnywood · May 28, 2003 12:46PM

There is a major market player who is hoarding all the Indian $2.50 in higher grades, especially PCGS. The firm that he backs bought my Registry set on the spot last October for my full asking price (it's worth about 50% more now due to their hoarding ... aaarrrgggghhhhhhhh). Now that they have driven the Sheet bids way up, they are starting to let the 1911-D's out (especially in MS64) one at a time in auctions. Someimtes firms do this and then launch a major direct-marketing promo to unload the hoard at high prices !!!

I hoarded better date shield and lib nickels in MS66/67 for a couple of years. At one point I owned almost every pop-top 1871, 1873, 1874, 1875 and 1879 and 1881 at both services. But I wasn't trying to drive prices up. I just WANTED them all. No, I NEEDED them !!!! And unloading a hoard like that is tough, because you can't saturate the market all at once or the supply overwhelms the demand and prices plunge.

I thought about buying up every 1877 gold proof on the market and socking them away for 20 years. But after putting together one six-piece proof set I blanched at the price tag !!!!

I also really considered trying to hoard the J-58's (1836 Gobrecht, name below base). Probably would have been a good idea, seeing as how the J-58 did at the Rudolf Sale !!!! But anyway it was a crazy idea. And TDN would be so sad if he didn't own the Eliasberg specimen !!!! I wanted to study the die states and try to prove my contention that there were NEVER any struck in Die Alignment I. (All the auction houses and grading services are SO screwed up about Gobrechts. THey think any coin in Die Alignment I is an "original" and anything else is a "restrike." This is hogwash. For example, I doubt there were EVER any J-58, J-84 (1838) or J-104 (1839) struck in Die Alignment I. So how can you call them all restrikes ???? Anyway, the point is I wanted to hoard the coins for numismatic research, not for profit.)

Now the only thing I want to hoard are high-end certified MS Cherrypicker varieties of shield nickels. But that's only because I want to assemble a museum-quality reference set. Usually these variety coins are collected in lower grades - but then you can't see all the die detail !!! For example, I now own almost all of the certified examples of 1866/1866 nickels (FS-001 and FS-001.1). Again, I don't really care about driving prices up. In fact, I doubt I can ever recover a fair price for my costs and efforts, but hunting down & owning these coins sure is COOL !!!!!!

Sunnywood

lordmarcovan · May 28, 2003 1:16PM

I think I might start hoarding 1849 double eagles, if I can find accomplice to distract the guards and tinker with the security systems...

20centman · May 28, 2003 1:44PM

Yea I started hoarding 20centers. Now everyone I try to bid on I get sniped. There getting hard to find especially ones that havent been jacked with. I'm happy I have a some put back.

20centman

longnine009 · May 28, 2003 2:12PM

"The Letters BIE is to be understood as standing for
the 'BEST IN ERRORS' and not the diebreak between
the letters 'B' and 'E' as formerly supposed.
John E. Markley
Former BIE GUILD member.

And crack skulls, spiked heads, antennas, r-dates, dot-dates, dash-dates, wheat smuts, drapes, fish-hooks, goatees,---are you writing this down?-- San Jose, Wart-nose, Winged Head, bullet to the head, pencil in ear,
mini-skirts, Jack & Jane, Horned "C"....

JoyofCollecting · May 28, 2003 5:09PM

<< <i>I've seen written in several places that a collector in Cal. is hoarding hundreds of 1844 "Little Orphan Annie" dimes. I'm waiting for the big selloff before I upgrade mine. Now, it's overpriced because of the hoarding. >>

Exactly!!! While my set is not complete, I'll have all the CC's long before I ever buy the 1844 just for that reason. Everyone knows the hoard is out there....I don't understand what he thinks is going to happen.

islemangu · May 28, 2003 5:54PM

unsuccessfully 1861-O seated halves, too hard to find and when I when finally did it was a high grade and wiped out my budget

1991 US and world coins since the year my son was born.

Bear · May 28, 2003 5:59PM

I have wiped my budget out so many times

I often feel just like a dish rag.

Baley · May 28, 2003 6:27PM

Well, I have accumulated a number of cents, half dollars, and half eagles, the only 3 denominations minted that year.

Nysoto · May 28, 2003 11:44PM

One each is not enough for 1801 and 1802 half dollars. I would like to buy more, not to drive up prices, I just like the coins. They are similar in rarity and price, the 1802 is an R.3 with 201-500 estimated survivors (one die variety for 1802). Prices are surprisingly low considering they are key dates with a low mintage, not many people collect draped bust half dollars by date or die variety.

Baley · May 29, 2003 5:42AM

heh, good luck finding the 1801 and 1802 halves. elusive!

morganbarber · May 29, 2003 6:23AM

it will take at least 5 generations to make a dent, but I hoard every "S" mint coin I get in circulation.

Twowood · May 29, 2003 6:43AM

Accumulating and hoarding coins to corner the market sounds like the goofiest idea I've ever heard!
Just a thought. Twowood

nickel · May 29, 2003 11:21PM

key date or low mintage is ok , but expensive . for hoarding , coins such as 1945 micro S dimes or 1886 type 1 and 2 indian head cents are easier to locate , and the stash is larger .

--------------------

" I love the smell of Blue Ribbon in the morning ! "

joejeweler · May 30, 2003 1:21AM

I often thought a good one to hoard is the 1877 Indian MS cent in ANY PCGS or NGC Uncirculated holder!

Have you ever looked up the Pops on these? The very vast majority of these are certified VG-VF, and the unc numbers eyeopening.

I don't have a subscription to PCGS to get the current pop report, but my Oct 2002 shows the following:

1877 MS Brown Indian (974 graded) MS60 pop1 , MS61 pop1, MS62 pop13, MS63 pop19, MS64 pop8, MS65 pop3 ....none finer Brown.

1877 MS Red-Brown Indian (228 graded) MS60 pop2, MS61 pop1, MS62 pop12, MS63 pop74, MS64 pop101, MS65 pop33, MS66 pop3 ....none finer in Red Brown.

1877 MS Red Indian (60 graded) MS60-63 pop 0, MS64 pop 2, MS65 pop 32, MS66 pop 20, MS 67 pop6 .....None finer.

I don't have time to look up the current NCG pops.......but i suspect it's lower than PCGS, especially being copper.

Considering that a great deal of these are probably re-submissions looking for a grade bump........how many are there really in unc?

Every classic coin collector wants one of these in "unc", but how many can ever own one? There's just not that many remaining........big secret, right?

A bigger question for someone wanting to corner the market on these is........getting the current owners to part with theirs! I know mine's (PCGS MS64RB Stunner) not going anywhere anytime soon!

Steve27 · May 30, 2003 1:49AM

Wasn't there someone on these borads who hoards 1899-P Morgans?

CharlieB · May 30, 2003 1:56AM

I remember having a long conversation with a dealer at the Baltimore
show last year on this very subject. He specializes in Indians. He had
an 1877 PRF in his display case. I sat there talking to him for quite
a while about coin hoarding. He told me that he knows someone who
hoards only high grade 1877 Indians. I can't remember how many he told me
the collector had but it was an impressive number.

RYK · May 30, 2003 1:58AM

I would like to hoard five or so 1861-O $20 in XF-40 to AU-50. There are only about 150 extant in all grades, and it is a storied coin. I would gladly pay over Trends to buy them.

Have you ever considered hoarding a particular coin type or date?

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