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Hypothetical - destroying all but one pattern....

ANACONDAANACONDA Posts: 4,692 ✭
in U.S. Coin Forum
If there were say, 7 known of a particular pattern, and you quietly bought up all 7 (assume that is possible), and you destroyed six of them, wouldn't that make the last one extremely valuable, more valuable than the sum of the values of the six that were destroyed?

Comments

  • ERER Posts: 7,345 ✭


    << <i>If there were say, 7 known of a particular pattern, and you quietly bought up all 7 (assume that is possible), and you destroyed six of them, wouldn't that make the last one extremely valuable, more valuable than the sum of the values of the six that were destroyed? >>


    No, not if no one wants to buy that last one, after learning that you've destroyed the others.
  • DickyBetzDickyBetz Posts: 3,825
    I dont think so.

    Plus people wouldnt believe that you destroyed them.
  • LeianaLeiana Posts: 4,349 ✭
    Didn't Uncle Scrooge try to do this with a Barber quarter in a comic book? image

    -Amanda
    image

    I'm a YN working on a type set!

    My Buffalo Nickel Website Home of the Quirky Buffaloes Collection!

    Proud member of the CUFYNA
  • MrEurekaMrEureka Posts: 24,419 ✭✭✭✭✭
    No. That's why you don't see people destroying coins.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • MrSpudMrSpud Posts: 4,499 ✭✭✭
    I think Scrooge McDuck tried to something similar and then lost the one image
  • ANACONDAANACONDA Posts: 4,692 ✭
    Plus people wouldnt believe that you destroyed them.

    You could always have witnesses or video their destruction.

    (By the way, I am in no way advocating the destruction of any patterns or any coins for that matter. It's just a hypothetical question.)
  • JLWJLW Posts: 583
    The key word here is "quietly" folks. First, I'd say the last known would in fact be more valuable, and second, I need to catch up on my Donald Duck comics!
    Joe
    P.S. Hi Adrian, superb coins acquired lately!
  • ANACONDAANACONDA Posts: 4,692 ✭
    Thanks, Joe.
  • curlycurly Posts: 2,880 ✭
    Didn't the Hunt brothers try a similar version of that idea with silver back in the late 70s?
    Every man is a self made man.
  • DickyBetzDickyBetz Posts: 3,825


    << <i>Didn't the Hunt brothers try a similar version of that idea with silver back in the late 70s? >>



    I dont think they destroyed it, just bought A LOT quietly and waited for the demand to come when there was a shortage. Then they sold it all screwing over millions of people.
  • ColonialCoinUnionColonialCoinUnion Posts: 10,087 ✭✭✭
    There was an episode of Mission Impossible where some guy destroyed 1 of 2 known stamps of some obscure type in exactly the scenario your described.

    I don't remember how it turned out, but I'm going to go out on a limb and say that he was caught and the problem resolved when, fortunately, when of the impossible mission team looked a lot like a ruler of some bana-republic, wore a rubber mask and trained themselves to speak with a goofy accent.

    Coin Rarities Online
  • ANACONDAANACONDA Posts: 4,692 ✭
    There actually was a scenario where only two stamps existed and owned by the same person who destroyed one of them.

    The name of the stamp had the word "magenta" in it.
  • ANACONDAANACONDA Posts: 4,692 ✭
    Here's a link to the destroyed stamp story:

    Destroyed stamp story.
  • LakesammmanLakesammman Posts: 17,460 ✭✭✭✭✭
    Only if you could destroy the pop reports too.
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
  • TheRegulatorTheRegulator Posts: 1,231 ✭✭✭

    My bet would be that the last remaining piece would gain quite a bit of notoriety and many collectors would be filled with disgust by the owner's actions. There might be less desire to own a piece that became unique by such circumstances. That's how I would look at it.
    The Tree of Liberty must be refreshed from time to time with the blood of patriots and tyrants. -Thomas Jefferson
  • IGWTIGWT Posts: 4,975 ✭
    Making a coin unique -- and essentially uncollectible -- can actually decrease demand.
  • RickeRicke Posts: 677 ✭
    Well, Microsoft did that - only instead of pattern coins, they were small start up competitors...

    so, I guess you could, but then you will have the coin confiscated by the FBI, split into smaller portions and redistributed among those you purchased the other 7 examples from in order to restore market harmony.
  • PeacemanPeaceman Posts: 5,098
    Destroying a part of history just for a buck.... image I think hoarding would be better than destroying....
  • numonebuyernumonebuyer Posts: 2,136 ✭
    I think if you had all seven (as indicated in your opening line), the best thing to do would be to write a book on the pattern with incredible pictures and detail. Once the book had been out for a year or two, sell one or two to different collectors and then see what happens.

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