Have you ever considered cornering the market in a coin?

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RYK
RYK Posts: 35,801 ✭✭✭✭✭
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. image
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  • CarlWohlforth
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    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
    Longacre Posts: 16,717 ✭✭✭
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    I have considered it and I think it is definitely do-able, but I have champagne dreams on a beer budget.
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • Russ
    Russ Posts: 48,514 ✭✭✭
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    I considered it until I checked my wallet.

    Russ, NCNE
  • Shamika
    Shamika Posts: 18,785 ✭✭✭✭
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    Only for a certain high grade. But alas, I haven't the money.

    Buyer and seller of vintage coin boards!
  • xbob
    xbob Posts: 1,979 ✭
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    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?
    -Bob
    collections: Maryland related coins & exonumia, 7070 Type set, and Video Arcade Tokens.
    The Low Budget Y2K Registry Set
  • RYK
    RYK Posts: 35,801 ✭✭✭✭✭
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    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
    Longacre Posts: 16,717 ✭✭✭
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    Anyone want to form a consortium?
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • badger
    badger Posts: 1,217 ✭✭✭
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    Yes, I have the market cornered on 1959 Roosies PR69Cams. I have both of them.

    Badger
    Collector of Modern Silver Proofs 1950-1964 -- PCGS Registry as Elite Cameo

    Link to 1950 - 1964 Proof Registry Set
    1938 - 1964 Proof Jeffersons w/ Varieties
  • RYK
    RYK Posts: 35,801 ✭✭✭✭✭
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    Anyone want to form a consortium?

    Sorry, you are not my type. image
  • Steve27
    Steve27 Posts: 13,284 ✭✭✭
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    Have I considered it, no. Have I thought about it, yes. How about 1914-P Barber halves?
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • Crazy4Coins
    Crazy4Coins Posts: 1,922 ✭✭✭
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    As a matter of fact I was thinking about it last night while looking at the newest heritage catalog. image
  • OKbustchaser
    OKbustchaser Posts: 5,570 ✭✭✭✭✭
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    I'm trying...check sig
    image
    Just because I'm old doesn't mean I don't love to look at a pretty bust.
  • Weiss
    Weiss Posts: 9,942 ✭✭✭✭✭
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    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.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • PhillyJoe
    PhillyJoe Posts: 2,728 ✭✭✭✭
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    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
    The Philadelphia Mint: making coins since 1792. We make money by making money. Now in our 225th year thanks to no competition. image
  • solid
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    Maybe.
  • Dennis88
    Dennis88 Posts: 5,797 ✭✭✭
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    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 itimageimage

    Dennis

    PS please don't tell this I got this from Uncle Scroogeimage
  • dpoole
    dpoole Posts: 5,940 ✭✭✭✭✭
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    To paraphrase smoe others here:

    None of your beeswax. image
  • rhedden
    rhedden Posts: 6,650 ✭✭✭✭✭
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    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
    sumdunce Posts: 1,247 ✭✭✭✭
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    Response withheld to protect the guilty.
  • AgMe
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    It reminds me of a quote "the risk is, you become the market".

    -g image
    I listen to your voice like it was music, [ y o u ' r e ] the song I want to know.

    image

    I'd give you the world, just because...

    Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
    and the blackness when the dream dies, of lovers, fools, adventurers and kings while I sip my wine and contemplate the Chi.
  • ms70
    ms70 Posts: 13,958 ✭✭✭✭✭
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    I thought about hoarding D/S Buffalo Nickels.
  • pharmer
    pharmer Posts: 8,355 ✭
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    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.
    Quis custodiet ipsos custodes?

    Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."

    image
  • mirabela
    mirabela Posts: 5,199 ✭✭✭✭✭
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    Oh, yes. By the time I get through, anybody who wants a cleaned XF Colombian half will have to answer to me! image
    mirabela
  • cladking
    cladking Posts: 30,312 ✭✭✭✭✭
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    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.
    tempus fugit extra philosophiam.
  • dthigpen
    dthigpen Posts: 3,932 ✭✭
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    I'm going to corner the market in 2005 circulated cents.
  • nwcs
    nwcs Posts: 13,386 ✭✭✭
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    20 centers. But I completely lack the buying power.
  • coinkat
    coinkat Posts: 24,542 ✭✭✭✭✭
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    yup...

    Experience the World through Numismatics...it's more than you can imagine.

  • LanLord
    LanLord Posts: 11,756 ✭✭✭✭✭
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    Shortly after I become a billionaire I'll do exactly that.
  • ColonialCoinUnion
    ColonialCoinUnion Posts: 10,087 ✭✭✭
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    I have been doing it for certain colonial coins for several years -
  • boyhowdy
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    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
    Collecting XF+ toned Barber dimes
  • jdsinva
    jdsinva Posts: 1,508 ✭
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    I've been collecting 1878-S Morgans for a while and now have accumulated several hundred. . .only 9,743,000+ to go!!!
    Jeff

    image

    Semper ubi sub ubi
  • anoldgoat
    anoldgoat Posts: 1,493 ✭✭✭
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    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 ballestimage
    Alright! Who removed the cork from my lunch?

    W.C. Fields
  • BillJones
    BillJones Posts: 35,933 ✭✭✭✭✭
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    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.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • mrearlygold
    mrearlygold Posts: 17,862 ✭✭✭
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    Between 2 of my customers and my own collection , I owned 7 1834 capped bust quarter eagles image 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
    7summits Posts: 316 ✭✭
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    Thought about it? Yep. Until I realized they'd just slab more image
    image
  • coppercoins
    coppercoins Posts: 6,084 ✭✭✭
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    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.
    C. D. Daughtrey, NLG
    The Lincoln cent store:
    http://www.lincolncent.com

    My numismatic art work:
    http://www.cdaughtrey.com
    USAF veteran, 1986-1996 :: support our troops - the American way.
    image
  • 100proof1957
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    POP of 22,PCGS and NGC i could do it !
    image
  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    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? image

    Liberty: Parent of Science & Industry

  • clw54
    clw54 Posts: 3,815 ✭✭✭
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    I have five or six 1931-S cents. It's a start.
  • RYK
    RYK Posts: 35,801 ✭✭✭✭✭
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    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
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    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
    Satisfaction lies in the effort, not in the attainment. Full effort is full victory. -Gandhi
  • MrSpud
    MrSpud Posts: 4,499 ✭✭✭
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    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
    ARCO Posts: 4,475 ✭✭✭✭✭
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    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. image

    Tyler
  • RYK
    RYK Posts: 35,801 ✭✭✭✭✭
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    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
    dimples Posts: 1,286 ✭✭✭
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    I'm hoarding all the 1964 Peace dollarsimage
  • AgMe
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    << <i>I'm hoarding all the 1964 Peace dollarsimage >>



    You're in China too? image

    -g image

    I listen to your voice like it was music, [ y o u ' r e ] the song I want to know.

    image

    I'd give you the world, just because...

    Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
    and the blackness when the dream dies, of lovers, fools, adventurers and kings while I sip my wine and contemplate the Chi.
  • AgMe
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    << <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 image
    I listen to your voice like it was music, [ y o u ' r e ] the song I want to know.

    image

    I'd give you the world, just because...

    Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
    and the blackness when the dream dies, of lovers, fools, adventurers and kings while I sip my wine and contemplate the Chi.
  • mozin
    mozin Posts: 8,755 ✭✭✭
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    << <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? image >>

    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.
    I collect Capped Bust series by variety in PCGS AU/MS grades.
  • sumdunce
    sumdunce Posts: 1,247 ✭✭✭✭
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    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. image

    Sumdunce
  • RYK
    RYK Posts: 35,801 ✭✭✭✭✭
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    BTW, I am not talking about varieties, I am talking about the whole enchilada.

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