Why are they so expensive?

The coins In the saddle Ridge hoard are way too expensive? And Why are they trying to sell a can for 2 million dollars?

 

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Because, with all of the hyperbole around this hoard, they think they can get that kind of moon money. They might be disappointed, but then again, they might draw people with more money than brains.

 

Eggs-actly!

Chris

 

It's the baseball commemorative all over again. People get all excited, gotta have them, get suckered into the hype, and spend $4500 on a coin "worth" a fraction of that. But, if they want it, then more power to them! We shouldn't take offense. We should just sit back and enjoy the show!

 

I wonder how they'll do in the secondary market.

 

They'll be on eBay for $10k and the HSN coin shows next week for $12.500.

 

but why? The coins are no more than ordinary coins found in a pile together. Why does this justify costing tremendous amounts extra to the cost? I will never truly understand human psychology and marketing...

 

Most are ordinary. Quite a few are top pop

 

People can convince themselves of anything. Flippers will buy these and try to double or triple their investment. A few collectors with money will buy them because the story is cool and the holder is pretty. And some people will buy them convinced that they can sell them for millions whenever they want.

 

Ever watched American Idol auditions? Some of those kids are absolutely devastated when they are laughed at and turned down. "But my Mommy said I was the greatest singer in the world?!?"
Same principal here. "But the guy on HSN said these would be worth hundreds of thousands of dollars in no time at all!?!?!"

 

It's sad that we've come to a point in society when you have to tell a kid that they just don't have it so as not to hurt his feelings. We don't keep score in kids sports because losing might damage the children's fragile egos.

 

The same thing happened years ago with the gold coins and ingots from the S.S. Central America. Also, for some strange reason, no one makes an allowance for inflation. The all-time peak price for silver, in today's inflation-adjusted dollars, was over $800 per Troy ounce.

What you're actually talking about is provenance, and in the art and antique world, it's worth a lot of money.

 

It's all about hype...it's about striking while the iron is hot (from a sellers point of view). These coins were a major story picked up the major news networks. In many people's view...they are "historical" because of how they were found. There are a lot of people out there who want to be a part of that "history" and some have the money to do it.

It doesn't justify it to me, I wouldn't pay those prices...but some people would.

 

Buy the coin not the story.....

 

Since the opposite appears to be true, I think I'll create my own hoard. I'll bury my collection in a historical area and dig it up - PRESTO, it quadruples in value.

 

Be sure to take them out of the slabs first.

 

Ha! Some people buy the story every day. "First strikes," etc.

 

Great Idea!

 

Thanks, good point!

 

I think it depends on what you are buying. My guess is, people who pay serious money for the more common coins in this hoard (not the top pops) are not people who seriously study coins. They are people who want a piece of this "event." To those people, the story is more important than the coin.

The members of this community (for the most part) collect coins...not anything else that comes with the coin. But, there are many people with other interests to whom the story attached to this piece may appeal to.