Do you own coins which were rare when you bought them, but no longer due to NEW HOARDS ?

The Canadian gold coins in the Bank of Canada hoard were painful for Canadian collectors. Coins that had a 200-250% premium over melt dropped down to 10-25% when it became clear that they were not all that rare in ms63-ms64 grades anymore.

https://world.mintnewsblog.com/2013/05/revisiting-bank-of-canada-hoard-1912-1914-gold-coins/

[Edited to fix a typo]

 

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I think it's just the 1857-S Liberty DE, but as I understand it while the non-SSCA's have fallen in price over the years, the price premium has held up (for the most part) for the 1857 SSCAs.

I'd really like to see a price chart of BOTH going back to 2001. It would be really instructive because back then the price of gold was only $325/oz. or so. And everything from the SSCA sold at a rich premium, even if it didn't deserve to (the DEs should have sold at a premium, just not as rich as they came out at).

Maybe someone here collects Liberty DE's and has tracked the price movements over the last 20 years.

 

From what i understand , underwater recovered coin(s) are graded difficulty than one(s) that have nt been submerged

Can anyone throw some insight on it ?

 

Well, they basically get a details grade. Except for gold, as it doesn't generally tarnish in salt water.

Also, sometimes hoard discoveries create fresh demand, either through media coverage or the creation of a new category of collectible. For example, shipwreck collectors might not have collected California assayer ingots before they were recovered from the SS Central America. Now, even though the number of these ingots available in the market has sharply increased, the high premiums paid for the recovered ingots has driven the price of the previously known ones up too.

 

Yup, it created a new market. Excellent point.

 

The most classic hoards gone bad in the Morgan series are the 1902o, 1904o, 1882cc, 1883cc, and 1884cc. Those CC dates were before the GSA horde was opened to the public. Those 5 dates of Morgans took the greatest beating.

 

What about the 1903-O ?

 

BTW, some good Hoard Stories in Bower's Red Book on Morgans. I also think he mentions them in his Double Eagle Red Book.

I actually am stuck on both books about half-way through and haven't finished so I'm going by memory.

 

I don’t think it was ever valued to the degree that the 1902, or 1904 New Orleans were.

 

The Red Book story and a link I have shows the 1903-O at $1,500 in the early-1960's. David Bowers said he had never even SEEN one up to that time.

 

Ok. Another one to add to my list.

 

$1,500 to $14 according to this Bowers article in CW:

https://www.coinworld.com/news/prec...ury-hoard-of-silver-dollars-in-the-1960s.html

 

Fifty years ago, I believe the same thing happened with the 1950-D Jefferson nickel.

 

Bowers mentions that in the Red Book section talking about the Morgan hoard.

 

Not a hoard, exactly, but a case where a scarce coin looks a lot like more common varieties. This is an 1809 C-1. Believed unique in 1960, about 15 were known in the mid-'80s. Enough have come out of the woodwork that now there are at least 65 known, and the price they bring at auction has dropped significantly. But dealers still have high prices on them.

Most people who have bought these, including me, lost money when they sold them.

 

Had a 1864 S $20 Liberty Head Gold before the discovery of a ship wreck off the Pacific coast. While I purchased it for $600 and sold it for twice as much, the value went from $600 to $2400 and back down.

 

Something to consider on the SS Central America. Before it was discovered, the number of MS type 1 Liberty Head double eagles was maybe a dozen known total for all dates combined.

In the Morgan dollars the 1898 O was also a major rarity before the early 60's releases from the Treasury.

In early large cents there were four varieties that were known as the Big 4, If you had ANY of them it was a big deal. The were S-48 the 1794 stared reverse, the 1794 Jefferson Head, 1803 S-264 Large date Small Fraction, and the 1807 S-276 Small 7/6. In 1949 when Sheldon wrote Early American Cents the S-264 was an R-7 coin with maybe 7 or 8 known. When Penny Whimsy came out in 1958 it was still a 6+ with maybe 12 to 15 known. today it's a 4- with close to 200 known. But for some reason it still lists at $5,000 in AG. (Normally a 4- would barely command much if any premium)

 

Only a dozen ? I know it was a low number, but figured it was higher.

I forgot the reason why so few Mint State 1849-66 Double Eagles. Will hit Bowers' book this weekend.

 

The Sheldon S-48, the 'Starred Reverse" you mention is an interesting example.
Examples of this variety continue to be found at a relatively steady yearly rate from what I read (P.W). Something like 90 are now known, it is a R4+. Yet, it commands many multiples of what, say S-45 (R5+) commands.....the attraction of those whimsical stars, I guess....

 

Great post. The wealth of information that came out of it is awesome. Thanks for starting it and to all who replied.