"Cult Bullion" and numismatic premiums on artistic product

Apart from exonumia, or maybe including bullion that was reworked but still appears as bullion even though its art, is this a really small (but widely varied?) collector niche?

Who here collects that?

In the 'fine art-from-junk silver' dept. (and off-topic), Aleksey Saburov and some of the contemporary "hobo nickel" artists are pretty phenomenal:


http://www.ebay.com/itm/1887-Morgan...200?pt=LH_DefaultDomain_0&hash=item19fae6dcc8

 

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While I greatly admire the skill and originality, this really has nothing to do with coin collecting. You could achieve the same effect by painting hubcaps. By professional standards, the coin is mutilated beyond repair.

As far as the price of $6500+ good luck...

 

Exonumia is not suppose to have anything to do with coin collecting.

Exo=Out of.

Love tokens and enlongates are mutilated too. The rims on encased coins are damaged once encased. But Exonumists happily collect all of it.

Interesting title Del Pinto. Are bullion collectors "cultists" now?

 

I don't know why anyone would suppose my topic was "coin collecting" - this isn't even the correct forum for that!

My OP addressed the word art twice and artists once - because that is where I can easily rationalize this kind of bullionist collecting at the extreme (that, and historic or special collector examples): millions of people collect ART.

Where these interests might intersect somewhat is coin collectors who buy chemically-toned Morgans, a kind of psychedelic art. That's one way to shoot for an 800% premium lol


http://www.coinweek.com/featured-ne...common-silver-dollars-with-attractive-toning/

"As for the price of $6,500, good luck..." It will sell for what someone is willing to pay for: hobo nickels of the 1930s and 40s reportedly sold back then for 100x the nickel's value. If a junk Morgan is "typically" worth ~$26., $2,600. isn't exorbitant by the same metric, with the very best examples only priced x2? That doesn't seem far-fetched either.

The artist's price?
http://www.saburovart.com/#!for-sale/cnxw

 

But it's NOT the same metric. Hobo nickels @ $5, artsy-craftsy Morgans @ $2600. Overlooked is the fact that there might be one ten-thousandth as many potential buyers for the Morgan as there are for the nickel.

If you're Warren Buffett or a Saudi prince, the Morgan might be for you. I'd rather spend that amount for a nice type set of US gold. Different smokes for different folks.

And the real puzzler, why did the artist use such a crappy 1887 dollar?

 

The metric is identical, mathematically. An artist paid 100x the cost of the coin, in both cases.

Hobo nickels SOLD FOR .05 x100 =$5. when made (we're talking about the 1940s, then) and Saburov sells Morgans he reworks at similar rates, $26 x 100. I would argue that in the age of the internet, today's best quality hobo nickel artist might get even more.

Although it WAS certainly a coin-collector, I doubt a Buffett bought 'The Numismatist.' And $2,600 - 12,000 isn't much for "fine art" either.

The artist of hobo Morgans should use culls, I AGREE

 

February 3, 2019:

Buyer: "Wow, haven't seen a real silver dollar in a week! But it's all carved up, I'll have to discount it from 65x down to 62x face. Got any dimes? I'll go 72x..."

Seller: "Ulp..."

 

Wait...I'm on the wrong forum!

 

Welcome to the dark side.

 

Beyond the ticky-tacky art bars that sell pretty cheaply in many cases, you've got mass market "collectibles" like this:
http://www.ebay.com/itm/like/231462263863?item=231462263863&lgeo=1&vectorid=229466&rmvSB=true

And tons of other similar examples, below.

 

I like that one. She looks culty.

 

Maybe some are. Online dictionary has this definition:

• a misplaced or excessive admiration for a particular person or thing.
  "a cult of personality surrounding the leaders"
  synonyms: obsession with, fixation on, mania for, passion for, idolization of, devotion to, worship of,veneration of
  "the cult of eternal youth in Hollywood"

 

Double post

 

Maybe real gold, but still "Fake" though:
http://www.mercierarmory.com/militaria/article.html

From Spanish wrecks, "historic" bullion must fetch a high premium:
http://www.sedwickcoins.com/articles/atocha2.htm
http://auction.sedwickcoins.com/Lar...ass-Factor-1-0-from-the-Atocha-1622_i20694205

 

Think I bought maybe seven real coins last year...3 ancients, 3 ASEs if these count, a Teddy Roosevelt dollar that came with two medals, and maybe a Franklin.

I like mutilated coins but I only have 3 in my collection and they're all counter stamps. Two are from @BRandM with his mark and the other is a military trade token. I think hobo nickels, elongated coins, and...what are they called...opt-out coins are great. I think it's unlikely I'll ever pay a steep price for any of them, but I do like 'em.

 

What about people who fixate/obsess with bullion collectors? Are they cultists? If we chant "buy the dip" will they go away?

 

Push outs? I forgot about those. They're cool too.

 

From that Sedgewick Auction 11/18/14:
"Large silver bar #668, 80 lb 9.6 oz troy, Class Factor 1.0, from the Atocha (1622). About 14" x 5" x 3". This is one of the nicest Atocha 'loaves' of silver we have ever offered..."

As indicated by weight and purity, that's ~961.5 Ozt Ag which sold for USD $ 38,305. (+ other fees and taxes I don't know what) when Silver closed at $16.27/Ozt; you can calculate the premium was 69%.

From the same wreck, a purportedly average but "Class 1" ingot (892 Ozt Fine) sold on 10/25/12 for at least $44250 when Silver was at $32.08: ~55% premium over Spot.
"Description: Large silver ingot fineness 2380/2400, from the Atocha (1622). Approx. 75 lb."

Who here has ever purchased a Silver ingot over 1 kg for a +50% premium?

 

Fifty-five percent over spot for Atocha siver, is that what your talking about? Sounds like a bargain to me.

 

Wow! You're talking crazy now. I've never gone through a coin show bourse without seeing at least one vendor selling tokens=exonumia. How does that happen if exonumia is not supposed to have anything to do with coin collecting?