Can It Be Done Today?

Another thread asked if anyone ever put together a complete collection of U.S. coins. The answer is yes.

THE QUESTION: What is the probability of someone compiling a complete collection of U.S. coins (not including errors or varieties) today?

 

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depends on how much money someone has

 

That is the answer right there.

If at least one of each coin exists, then it's "possible". The more money they have, the higher the probability of their success.

 

Even if you have the money you cannot buy a coin if it is not available.

EDIT

For example, no matter how much money you have how do you buy the unique 1870-S $3 if the Harry Bass Foundation does not want to sell it.

 

I agree. Someone with unlimited finances and time could complete the task. Another question is what is a complete set? For example, Eliasberg's collection was a mixture of proofs and business strikes...but he had one example of every known date/mint mark.

Of course, he did not have coins that were produced but none known to exist. An example of that is the 1873-S No Arrows Half Dollar...of which 5,000 were minted but none are known to exist.

 

Well, it could be done.

However the price of gold was dirt cheap compared today.

Just for a rough figure, the $20 gold piece was minted from 1849-1933. That's 84 coins (unless they didn't make some, some years).

Figure around $1830 each, that's over $150,000. Not accounting for any key dates.

Then you have a lot of early coins that could cost several thousand each.

Im 1973 you could buy gold for $100 an ounce.

 

True

 

EXACTLY! That is probably the primary hurdle. Even if you buy coins as they become available, I think the likelihood of completing the set in one's lifetime would be slim.

 

And the 7.5 m only legal to own example of the 1933 dbl eagle,only one complete us coin collection including the 1933 dbl eagle, and the 1878 cc dime(I think thats the date) can be owned, because of the reason one only one of those coins exists, or is legal to own

 

I don't think the price of gold has anything to do with it. Sure, the price of gold was a lot less back then...but the value of a dollar was much higher too. Plus, Eliasberg's collection wasn't purchased for bullion value. Even back then...coin collector's existed and they paid very large sums of money for choice coins. I can assure you...that the amount it cost to assemble that collection was certainly immense.

 

Exactly. I view the possibility of someone recreating a "complete" US collection as long gone. When this was accomplished you probably had 1/1000th the collectors in the US, and didn't have TPG promoting condition census rarities and the like. You also didn't have very many people thinking coins were a good investment.

IF someone started young, was a Walton or similarly fantastically rich family heir, and spent 70 years trying to accomplish it, they may get within a couple of coins. I simply feel way too many coins people would believe are "needed" have been taken off the market permanently, (museum donations), or in similarly rich family hands who never intend to sell.

Heck, even the complete collection from a relatively minor and short lived mint, was hailed as a "once in a lifetime" collection recently.

 

EVERYBODY has a price. What if you offered $1 Billion for it? $10 Billion? $1 Trillion?

Possible, yes. Probable, maybe not.

 

I do not think so. Many of these coins are with collectors who have plenty of money and would rather own the coin and the recognition that goes with it.

 

What do people with lots of money usually want? More money...

And recognition? Which would they rather be, the owner of a unique coin, or the world's only trillionaire?

 

Plausible.. but very unlikely. Take this scenario.. you have every coin but the 2 big boys.. 1933 Double Eagle and the 1870S $3.. Now, if I were to own either one of them coins.. I would know how bad you wanted it. The 10 million dollar coin price would very easily be surpassed. So I sell you my 1933 Double Eagle for 50 Million.. Great price for me! But, you had to have it.. how much would HOBO sell you his 1870S for? Would he sell it knowing how hard headed he is and the fact that You know each other personally and you stole his girlfriend in the 8th grade. 100 Million? Not HOBO. 250 Million? Na, heck the Tigers signed Prince Fielder for more money than that.. HOBO wants the keys to Microsoft. : ) Can you afford to buy out Billy Boy? Everything has a price... But.. you have to get past that 8th grade hurdle.. and thats gonna cost ya.

 

Numismatists can be a peculiar bunch. There comes a point with everything, even money, where the additional benefit of having one more dollar is zero, but owning a 1913 liberty nickel (or any coin, just name it) is greater.

 

I understand, but this only works to a point. If Bill Gates were a coin collector, why does he need another billion? There are only so many ferraris you can drive, and only one example of a unique coin.

The bigger issue to me is how many of these items needed are now in trusts or museums. You say money can buy anything, try buying the Mona Lisa or similar from a museum at any price. Plus, many of these museums legally cannot sell even if they wanted to, since the donation bequest prohibits them from selling it. Its common proactice in museum bequests to state if the museum no longer wants an item, it goes back to the family. Therefor, the museum has a choice of keeping an item forever, or losing it forever with no compensation. Which would you choose?

 

when i win the Powerball i will try:yes:

 

Assuming you win the Powerball, do you think you have enough time in life to complete the collection?