New York City Morgan Dollar Hoard

Hey Ya'll, I was just wondering if anyone has heard anything about the 16 bags of Morgan Dollars, that was in a bank vault until it was sold by the owners children. It has been a while but the last I heard was they were being graded by NGC. If anyone has heard anything about when and where they are going to be sold, I would like to know. Thanks for any info, Steve.

 

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I think the grading was completed and they are soon to be sold at inflated prices.

 

They're on Ebay right now....probably HA, too. About $125 for an average MSD in MS63/64. Price jumps 200-300% if you want MS65.

Not as worthwhile an investment (though far cheaper !) as the SS Central America shipwreck hoard.

 

And i thought hoards hitting the market lowered prices, i must've bumped my head or something

 

Yeah, just like the Redfield, GSA, Binion and about any other one you can name.

 

That was my thinking. It's a hoard so how can one maximize profits?

 

Yes this is definitely a case of buying the holder and not the coin.

 

I don't think you do....you basically buy it because (1) you like the underlying coin (2) you like having a hoard mentioned on the slab (3) it's a conversation piece.

COLLECTORS probably don't care about hoards.

Myself, I am basically collecting interesting coins from all different types so having 1 or 2 hoard representatives isn't something I am averse to. However, I'm not buying them for appreciation.

 

Some people try to get one of each identified hoard. Most settle for the cheapest example they can find. Those folks buying the inflated price examples are investing on the GREATER FOOL principle. They think that they can always find a person who will buy their coin at a greater price than what they paid for it.

 

Hence they are buying the slab:

 

I think you're misunderstanding me. I'm saying that in order to maximize profits the finders of the hoard will do what's necessary to make the most profit. That is, have them graded, get a special label to identify the hoard and sell for the highest price using the hoard label and slab to do so. It's been done numerous times in the past and I think it's being done with this NY hoard.

 

Hey guys, it's called HYPE. Whether it's property, jewelry, coins or cars, you talk UP the selling points to get the best price you can for it.
Another name for it is Hucksterism. Surely these guys hyping these coins are just like the hucksters selling snake oil.
Well, at least similar. The coins do have some intrinsic metal value. At best, the snake oil might have had some alcohol in it.
There was a "Cure-All Elixer" being sold back in the '40's called Hadacol. Basically it was just vitamins and flavored alcohol. They made a lot of money until the Gubmint stepped in and shut them down for bootlegging and not paying taxes.
Just another example of Hype and Hucksterism.
Hadacol - Wikipediahttps://en.wikipedia.org › wiki › Hadacol

The "Hadacol Boogie" Jerry Lee Lewis
watch

 

Oh absolutely....but I also think they HAVE to go that route. Otherwise, they'd be leaving money on the table if they sold them raw and without reference to the Hoard.

Some hoards are famous -- the Wells Fargo Saint hoard, for instance -- and we also had a Saddle Ridge hoard a few years ago, right ?

 

The Redfield hoard is possibly the best known hoard.

 

I remember the hoard @One Mans Trash is referring to. In fact I remember quite a lively thread here about the overall blast white quality displayed on many of the Morgan’s in that hoard. Darned if I have a clue how to reference the thing though. Wish I could help you out.