Are Hoard Coins worth more than others of the same type

About 6 years ago members of my local metal detecting club found a small hoard of predominantly Henry 8th coins here in Somerset. Following protracted delays in processing them through the Treasure process they will be valued shortly. The finders would like to know if the values might be a little higher if they are associated with being part of a hoard. There were 2 gold coins (half sovereign and crown of the double rose) and about 9-11 groats (one wasn't Henry 8th) and part of a silver bosun's whistle. Photo shows some of the coins found.

 

Log in or Sign up to hide this ad.

Under the assumption they are in the same condition, yes, the hoard coin is worth more, especially if it is from a famous hoard.

 

A good example of yes is LaVere Redfield. The Redfield hoard was mostly common Morgans. But Redfield was an off the charts eccentric that coin collectors, IMO, just loved.

For example, he had no problem betting 5k on a single reoulette spin but he did not want to waste money putting a new starter in his beat up old truck. He just parked it on top of a hill and popped the clutch. Or he would walk into town and save gas.

 

A rose by any other name would smell as sweet.......

 

Provence value depends on a number of factors. Fame of the hoard, collection or former owner is one. A coin that has been positively identified as one pictured in an important reference book (often referred to as “that coin” in sales catalogs) may have its value enhanced. There can be a time distance value in provenance. For example, the provenance value of a former Norweb, Eliasberg or Bass U.S. coin is a lot higher than that of a Hansen coin. The provenance value of the latter is probably zero because he is still alive, and those coins on the market are his rejects (still amazing coins). A shipwreck provenance adds some value especially if the recovery effort is over. I have a Morgan dollar with a slab label of Michigan Collection. I have no idea what that collection is or was, and it had no influence on the purchase price. For a few bucks, anyone can have their name or collection name put on a slab label.

Cal

 

Why wouldn't they be worth less since now the hoard increases the population?

 

As they are still in the Treasure process there is a possibility that they will be claimed by the state and be purchased by a museum for an amount yet to be decreed by the Treasure Valuation Committee at the British Museum. The finders would then receive half of the hoards estimated value and the other half would go to the landowner. This would prevent the hoard from ever being purchased by the general public and should not affect the prices of similar coins on the market. However, if the hoard is disclaimed by the state, the hoard will be returned to the finders/landowner to agree their disposition, possibly selling them at auction which could impact the prices of similar coins.

 

The cachet of a hoard like this is that you can pinpoint location and possibly a reason for the hoard. In this hoard you have a Bosun's whistle so could be a returning Mariner. Some dealers like Silbury Coins specialise in hoards and if they are sold individually it enhances value of the whole, particularly if there is a story attached.. As @GDJMSP said, it is only worth what someone thinks its worth and that's nebulous. Taking @Michael K 's point, this is such a small hoard that it would have no bearing on devaluing similar coins and the small size of the hoard would increase its value. Value could even be down to the geographical area it was found because non coin collectors would want one because it was found in their county.
If we look at hoards, someone , somewhere must have found thousands of "Athena Owl" Tetradrachms and they have been trickled onto the market over several years and they only seem to increase in value annually despite being readily available.
Here are some AC Search statistics of hoard Owls sold in the past. A statistic was mentioned somewhere that upwards of 40,000 were found, but the market was not been flooded, deliberately.
2016 - 1.715

2017 - 2.163

2018 - 3.496

2019 - 4.483

2020 - 5.037

2021 - 7.286

2022 - 6.088

2023 - 4.560

So the simple answer is it "depends".

 

I value hoard coins a bit more if they are plate coins in a book...which also proves the provenance.

 

Thanks for all of your comments. It seems that some hoards can add a little bit of kudos that collectors are willing to pay extra for.

 

Depends on the hoard, the Akola Hoard of 1628 Mohurs from the Surat Mint (all were lost in 1628/ coins had just come from the mint/ thus all were MS) This of course drives prices down. Same for SS CA 1857-S Double Eagles brought up from wreck, MS existing coins were super rare, now 10K+ MS ones flooded market.Same story for Seljuks of Rum gold Dinars (all MS) found in Turkey, prices plummeted.

On the otherhand, if a small hoard of Saturninus Aurei were found, they would still fetch BIG $$$$/ since only one known FDC ex. exists. sold in 1990s NFA auction.

 

Thanks for your reply Panzer man and the coin in the photo is gorgeous. I totally agree that when additional coins appear on the scene they generally dilute the pool of existing coins and drive prices down. But I think there are other factors to consider. For instance if the number of people generally interested in coins increases there may be insufficient supply to satisfy demand so prices may increase or at least not drop when new coins enter the marketplace. Also, here in the UK, when new coin hoards are found they are usually claimed by the state and end up in museums so there is no dilution of the examples available in the marketplace and prices remain unaffected. I can understand that if 2 identical coins in identical condition were for sale, the one which was part of a famous hoard might command a higher price than the single coin found by a detectorist, simply because of the kudos of being associated with the hoard. But I still think that for many collectors being able to buy the exact same coin that was not part of a hoard at a lower price might make that coin more attractive to buyers.

 

Some real beauties there Lordmarcovan. Strangely, I spent Sunday morning detecting near East Harptree but didn't find much of interest, although another club member found a beautiful Edward 6th sixpence in the area a few years ago. There was a lot of Roman activity nearby at Charterhouse on the Mendip Hills where they used to mine lead.

 

What area did you detect in the UK during your visit? Most of my detecting has taken place close to places I have lived in since 1988. From 1988-97 I lived in 2 locations around the West Midlands and Shropshire and was a member of the Bloxwich Metal Detecting Club. Normally we found a mix of roman/hammered and the odd celtic coin. I moved to Weston Super Mare in North Somerset in 1997 (change of employment) and joined the local club here in Weston. Again the range of finds is similar. One of the members of the Bloxwich Club called Terry Herbert was the man who found the famous Staffordshire Hoard of anglo saxon artifacts that were valued at £3.2 Million. BBC - Staffordshire Hoard: the story, facts & figures

 

There ought to have been roman finds there, especially with Colchester being nearby. On that topic, here is a small group of roman silver coins that one of our club members found on a site near Bristol.