Just saw this in the news. Pattern coin collection sold for 30 million dollars. :thumb: Lou http://news.yahoo.com/s/ap/20071117..._collection;_ylt=AtHFwrViYO36tSCXJGp14ZADW7oF
Saw that in today's Norwich Bulletin newspaper from Norwich, Connecticut. You may be able to see the article online. Now keep in mind this 30 Million was for 1,000 pattern coins.
That is RIDICULOUS ! $30,000 a piece ????!!!!! I mean, for that you could probably buy twenty decent european patterns, or even more non pattern coins.... Where has the world come to ?
Picture Here's a picture of one of the pattern coins that was bought. Lou http://news.yahoo.com/photo/071117/...ee2f3f0ff07;_ylt=AlOdlP8i9fLQuQYe7xgchqIDW7oF
Wow. That's a piece of work, right there. I wonder if the buyer intends to break up the collection ? It will be interesting to see if there are some hot ones pop up on the market soon.
We've been over this before, on the "Why are american coins so overrated ?" thread. Jerome, there's something about the whole "supply and demand" thing which you're not getting. Apparently, fewer people are interested in "decent european patterns". Less demand relative to the supply. $30,000 a piece ????!!!!! There's nothing wrong with it, nor ridiculous about it. People pay millions for oil on canvas; it's just big money chasing scarce items.
I have patterns of which only 10 examples are known, and they cost me $300 a piece...surely that is better than $30,000 each ?
yes, apples to oranges, but given time, as awareness increases, those obscure coins could very well increase in value nicely!
Possible, but not likely. Do you know why ? Precisely because there are so few of them. For a coin to gain great value it needs to come from a series where nearly all the coins are quite common. For then there are a whole lot of people who wish to collect that series and that's what drives the prices up - the number of people that collects them. So if you have something that very few people can collect or want to collect because there are so few of them available, then the prices rarely go up much.
very, very true. But there are countless factors that go into determining a coins value. Sometimes alot of us are left scratching out heads as to why one coins value is higher then another, when it would seem they would be reversed. You do have a good point with your scenario which is why i said "those coins 'could'..." its always cool to hold a coin with such a small quantity known! and as i stated before, i never collect in the hope to sell for a huge profit! so i wouldnt care about that. but to have a coin with only 10 or so known... thats just cool!
One ring to rule them all Has anyone ever seen an 1852 P Pattern "Ring" Gold $1 J-145 thin? It's the gold pieces that is pretty small but it looks like a ring. So cool. Can't find a picture but I've seen it.
Never seen the actual coin, but there's a picture on page 5 of "Major Varieties of US Gold Dollars" by Breen. "Adoption of a perforated coinage of this kind would have required amending the Mint Act of 1792, under which all United Sattes coins struck from then till now have been required to bear a 'device emblematic of Liberty' - perforated coins presumably could not do, as the iconography was then understood."
