Have you ever considered cornering the market in a coin?

RYK · April 28, 2005 5:02AM

I am strongly considering it, just for the fun of it. Of course, I will not tell you what it is until I have most of them.

CarlWohlforth · April 28, 2005 5:08AM

Wow! I never seriously considered it. I entertained the thought for a few minutes once or twice. However it seemed like I wasn't going to have the money or patience to make it work.

Longacre · April 28, 2005 5:10AM

I have considered it and I think it is definitely do-able, but I have champagne dreams on a beer budget.

Russ · April 28, 2005 5:11AM

I considered it until I checked my wallet.

Russ, NCNE

Shamika · April 28, 2005 5:12AM

Only for a certain high grade. But alas, I haven't the money.

xbob · April 28, 2005 5:12AM

I seem to remember speaking with Les Fox once (he wrote The U.S. Rare Coin Handbook) who told me at one point in his career he was cornering the market on all pre-1800 U.S. gold coins.

It was a one time, and short, conversation so I don't know how that worked out for him. Maybe he still owns most of them?

RYK · April 28, 2005 5:13AM

It probably happens more than we think. I have heard of various rare date gold collectors buying up this date or that date and hoarding. My target is not gold.

Longacre · April 28, 2005 5:14AM

Anyone want to form a consortium?

badger · April 28, 2005 5:18AM

Yes, I have the market cornered on 1959 Roosies PR69Cams. I have both of them.

Badger

RYK · April 28, 2005 5:22AM

Anyone want to form a consortium?

Sorry, you are not my type.

Steve27 · April 28, 2005 5:26AM

Have I considered it, no. Have I thought about it, yes. How about 1914-P Barber halves?

Crazy4Coins · April 28, 2005 5:27AM

As a matter of fact I was thinking about it last night while looking at the newest heritage catalog.

OKbustchaser · April 28, 2005 5:28AM

I'm trying...check sig

Weiss · April 28, 2005 5:31AM

Ever since I was a kid and the Hunt brothers tried to do it with Silver. Seemed so much easier to take a coin like the '28 Peace and go to town.

Looking at the '05 redbook there are several coins you could do it with. Check out the 1880 through 1890 seated half dollars. Mintages in the 5k to 10k range, with prices at averaging maybe $500 each. $2.5 million would take 'em all, if you could do it quickly and quietly enough.

PhillyJoe · April 28, 2005 5:32AM

I have thought about it from time to time, but I am a private person and do not wish to reveal my intentions on a public forum.

Joe

solid · April 28, 2005 5:35AM

Maybe.

Dennis88 · April 28, 2005 5:38AM

Yeah, 2009 Lincoln cents. I will buy them ALL, then let them all sink to the bottom of the sea except one, and asking moon money for it

Dennis

PS please don't tell this I got this from Uncle Scrooge

dpoole · April 28, 2005 5:42AM

To paraphrase smoe others here:

None of your beeswax.

rhedden · April 28, 2005 5:43AM

At a recent auction, I thought briefly about cornering the market on 1870-S half dimes, but I only had $100 left in my checking account, so I fell short of my goal by one lousy coin.

sumdunce · April 28, 2005 5:47AM

Response withheld to protect the guilty.

AgMe · April 28, 2005 6:26AM

It reminds me of a quote "the risk is, you become the market".

-g

ms70 · April 28, 2005 6:27AM

I thought about hoarding D/S Buffalo Nickels.

pharmer · April 28, 2005 7:17AM

I did it once when I made the first 1958 Lincoln pcgs ms67 red, held it a while, then sold it on Teletrade. Put an outrageous reserve on it, it still sold.

mirabela · April 28, 2005 7:20AM

Oh, yes. By the time I get through, anybody who wants a cleaned XF Colombian half will have to answer to me!

cladking · April 28, 2005 8:22AM

When I was young and foolish I got the crazy notion that I could corner the market
on nice attractive '69 quarters. Attempting it was very instructional. The amount of
work and the logistics and tactics of this were all tremendous. Obviously it was a mis-
erable failure except for the lessons learned and the people met.

The only coins of which I have a significant percentage of the number available are
a couple of varieties which were released in this area. Neither is well known but one
should be popular someday.

dthigpen · April 28, 2005 8:22AM

I'm going to corner the market in 2005 circulated cents.

nwcs · April 28, 2005 8:38AM

20 centers. But I completely lack the buying power.

coinkat · April 28, 2005 9:11AM

yup...

LanLord · April 28, 2005 9:13AM

Shortly after I become a billionaire I'll do exactly that.

ColonialCoinUnion · April 28, 2005 9:18AM

I have been doing it for certain colonial coins for several years -

boyhowdy · April 28, 2005 10:01AM

I am trying to hoard all the 1905-O micro-O dimes in G+/VG I can find.
I've got 3 after 6 months of looking.

Steve

jdsinva · April 28, 2005 10:36AM

I've been collecting 1878-S Morgans for a while and now have accumulated several hundred. . .only 9,743,000+ to go!!!

anoldgoat · April 28, 2005 10:49AM

2004-D Bank(?) wrapped uncirculated cents. I go the bank about once or twice a month to pick up some cent rolls to search and see if I can pick up any unc rolls of the other denoms to search/put away. I ask for 10 rolls of cents and "do you have any of the 2005 nickels, dimes or quarters. They never have of the other denoms but I get a lot of unc cent rolls.

Anyone need ballest

BillJones · April 28, 2005 10:55AM

Cornering the market on a coin?

NEVER! If you were dog it would be like chasing your tail. The more coins you take off the market the higher that price goes. The more coins you put back on the market the lower the price goes. PLUS you are putting a lot of your eggs in one basket.

Diversity is the cornerstone of good collection and, more often than not, a better, less risky investment.

mrearlygold · April 28, 2005 11:29AM

Between 2 of my customers and my own collection , I owned 7 1834 capped bust quarter eagles

and we've sold most of them in the last 18 months. Have done and am doing that with several types, dates, denominations.

Tom

7summits · April 28, 2005 11:29AM

Thought about it? Yep. Until I realized they'd just slab more

coppercoins · April 28, 2005 11:30AM

If it's the 1960D large date Lincoln cent let me know...I have a few hundred rolls you can buy dirt cheap!

My specialty doesn't afford me the opportunity to corner any one of them - far too many minted to even consider it.

100proof1957 · April 28, 2005 11:37AM

POP of 22,PCGS and NGC i could do it !

Baley · April 28, 2005 12:03PM

At one point, had 100% of the known population of a certain bust half die variety. Then, a few months later, 50%. Now down to 33 1/3%, oh, where will it end?

clw54 · April 28, 2005 12:05PM

I have five or six 1931-S cents. It's a start.

RYK · April 28, 2005 12:11PM

Here's an example:

1854-O Huge O 25c. PCGS population of twelve coins. I bet in five years, if someone wanted to, they could get half of them.

CoastGuard · April 28, 2005 12:36PM

I have a vest pocket dealer friend who was President of one the regional Numismatic Society's that hoarded 20 cent pieces in better grades Fine and above.. He had about 280 of them and was trying to the corner the market a bit. This was about 15 years ago. He ended up selling them all over time because the price was going up some and he could not hold them any longer-like money burning a hole in his pocket

MrSpud · April 28, 2005 12:46PM

What if you picked something with like a population of 50 or so certified coins. Then you buy about 5 of them. Then you crack them out and resubmit them each about 10 times and don't turn in the tags. Now everybody thinks the population is going up and the prices go down. Then you advertise to pay the 25% less than the original price (i.e. the price before you resubmitted the coins) and buy them up. Then you turn in the tags and the pop goes back down.

Would something similar to this work?

ARCO · April 28, 2005 12:53PM

PCGS has graded just two XF40 1910 Barber halves. I own them both. Sure, you can buy a XF45, VF35, AU50, 53, 55, 58...etc, graded by PCGS, but if you want a PCGS XF40 you have to have one made, or buy one of mine.

Tyler

RYK · April 28, 2005 1:08PM

Would something similar to this work?

Beats me, but it sure seems like a lot of work. I would rather start with a coin with a PCGS population of under 20 and try to buy half of them.

dimples · April 29, 2005 4:10AM

I'm hoarding all the 1964 Peace dollars

AgMe · April 29, 2005 4:23AM

<< <i>I'm hoarding all the 1964 Peace dollars

>>

You're in China too?

-g

AgMe · April 29, 2005 4:24AM

<< <i>What if you picked something with like a population of 50 or so certified coins. Then you buy about 5 of them. Then you crack them out and resubmit them each about 10 times and don't turn in the tags. Now everybody thinks the population is going up and the prices go down. Then you advertise to pay the 25% less than the original price (i.e. the price before you resubmitted the coins) and buy them up. Then you turn in the tags and the pop goes back down.

Would something similar to this work? >>

Evil!

I like it!

-g

mozin · April 29, 2005 7:42AM

<< <i>At one point, had 100% of the known population of a certain bust half die variety. Then, a few months later, 50%. Now down to 33 1/3%, oh, where will it end?

>>

Now, why don't you just tell us exactly which Bust Half die variety you have accumulated? I am suspicious you had the only six copies, sold three leaving you with 50% of six, and then sold another one leaving you with two of the original six whic would be 33 1/3% of your original six. In any case it sounds like I need one of your coins.

sumdunce · April 29, 2005 8:51AM

I almost forgot...

I do have the "market cornered" on this variety of 1944 DDO lincoln cent.

Funny I feel no different than I did before I realized this fact.

Sumdunce

RYK · April 29, 2005 8:54AM

BTW, I am not talking about varieties, I am talking about the whole enchilada.

Have you ever considered cornering the market in a coin?

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