Does a famous previous owner increase the value of coins?

After reading Shortgapbob’s thread on ‘Significant Coin Auctions’ I have a question about famous previous owners of coins.

If you purchase a coin or set of coins from a famous coin collector’s collection, does that increase the value over and above the normal value? Does this fact add a premium to the value?

I purchased a 1950 & a 1954 proof set, my wife’s and my birth years, from the Eliasberg collection through my coin dealer, in original cardboard boxes and stapled individual soft plastic sleeves. The boxes have the Eliasberg brother’s names and other info written on the top. I trust my dealer’s word about prior ownership, as he has a fine reputation in the coin community. Yes, I did pay a premium. Also, I have decided to leave them in their original packaging and not slab them.

Jack

 

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Jack, it appears you have answered your own question

 

I would say it does, in instances. Take for example the Binnion silver dollars. You could pay a thousand dollars for a certified Binnion dollar that you could buy for $25 without the attached name. Don't ask me why, but people pay that, and more for them.
Guy~

 

It's marketing, but it does apparently add value with some collectors if it can be substantiated.

 

The Omaha Bank Hoard comes to mind. Now there's a bunch of pocket change which duped a lot of new collectors who were blessed with a lot of extra recreational money...

Ben

 

It helps in the aurhentication of scarce or rare coins...giving the coins a pedigree...

Clinker

 

I think if I ever resell some of my stuff (probably never happen), I will charge the buyer a premium since they are all part of the exquisite Jenkins Collection. "I know it's only an 1881-S Morgan, but it's a JENKINS PIECE!" That's basically what it amounts to when someone buys a "famous" coin. If it's something like the 1913 Liberty Nickel or an 1804 silver dollar, I can sort of understand. However, as the previous post said, people are simply being duped.

 

Perhaps not for the Jenkins collection, but the Eliasberg collection and some others certainly are worth a premium.

 

I think Ben brings up a very good point here, there are times that because new collectors of collectors with a lot of money just drive up the price of a coin of collection because they have the funds to do so. A coin or collection is only worth so much but when you add a name to it at times you pay more then the coins are truly worth.

Bruce.

 

I would argue that if you have a pedigreed specimen from eliasburg and say the receipt or other proof, yes they are worth more because he was the man as far as coin collecting goes.

 

I've had cwts designated as being from the Fuld collection, who were the premier collectors/catalogors of Civil War tokens. While probably worth a premium to some, it really doesn't matter to me, and I discarded that info/papers. If one has very many cwts, they are practically guaranteed to have some that were owned by the Fulds since they owned about half of the known cwts at one time.

 

i like coins that people used, they have history.i dont like elitism in my collection.not a fan of proof coins either.

 

Often, people make too big of a deal about worthless pedigrees. Many, like the Benson and the Omaha Bank Hoard Coins have no significance, and an experienced collector will pay no premium for them.

Now, there are some pedigrees that I would pay a premium for, such as Eliasberg, Green, Farouk, etc. I would pay a premium because I appreciate teh history behind those particular pieces and their famous owners. These types of coins often bring premiums, but those premiums are up to the owner to decide.

 

People are weird. They would buy a shoe if it was worn by Elvis for thousands. The trouble with all such things is it is difficult to prove who ever owned what if it's a coin, stamp, shoe, etc. I would think forging a certificate to say something is what it isn't would not be to diificult.
A comedian on TV was telling a story of a man at the Irish air port selling the actual skul of a famous Irish King. An American bought it and a year later the same man landed at the same airport and saw the same man selling the skull of the same King but it was smaller. He confronted the saleman who told him this is the same King but when he was a boy.

 

LOL, now that's funny.

 

Some years ago, my dad bought a common date (but nicely preserved) Buffalo nickel from the Arthur Conan Doyle collection for my mom, who is an avid Sherlock Holmes reader.

I didn't ask what he paid for it, and he didn't tell me. I think there was a slight premium but not anything to the extreme.

They both talk about it even now, so I think the modest purchase was well worth it.

 

Bottom line:
If ya like it, buy it.
If you don't like the coin, the name is meaningless.
Then pass.

 

The short answer is yes...famous pedigrees will always bring over market. To this day, scruffy Morgans in Redfield holders sell for much more than the coins value.
But remember that if you submit enough coins (and money) to the grading services, they will gladly put your name on the inserts, so that your name will be carried forth in numismatics forever...or until someone cracks out the coin lol.

tradernick

 

Hmmm, another little industry secret...