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Do you own coins which were rare when you bought them, but no longer due to NEW HOARDS ?
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<p>[QUOTE="1865King, post: 6454505, member: 103207"]I didn't read every post so if I repeat some ones info forgive me. Personally, I wouldn't pay any big money for a liberty head double eagle or a saint. Between the coins being pulled up off the ocean floor and the ones hiding in European vaults there is a good chance that some coins being thought as super rare could show up in large quantiles. The same can be said about some coins though to be rare in the past that show up in the market often. The 1904-O Morgan is a great example. The difference today compared to the past is the internet. In the past if a hoard was found it could have been liquidated quietly over a long period of time. However, today if a hoard is found it wouldn't take long before everyone knows about it. Can you imagine if a bag of 1895 Morgan dollars was found in a bank vault 50 years ago. The person that found it could slowly sell them at an extreme profit. However, if a bag was found last month it would be all over the internet with in a month. They would still be highly liquid and sell for a high price but, not at the same prices you could ask if it wasn't known that a $1,000.00 bag showed up. I know of many coins that are still considered rare but really aren't. The 1909-S VDB Lincoln cent is a prime example of a coin considered rare that's really not. Many were pulled from circulation and hoarded right after they were minted. This caused the coin to become scarce early on but, I have no problem finding one today.[/QUOTE]</p><p><br /></p>
[QUOTE="1865King, post: 6454505, member: 103207"]I didn't read every post so if I repeat some ones info forgive me. Personally, I wouldn't pay any big money for a liberty head double eagle or a saint. Between the coins being pulled up off the ocean floor and the ones hiding in European vaults there is a good chance that some coins being thought as super rare could show up in large quantiles. The same can be said about some coins though to be rare in the past that show up in the market often. The 1904-O Morgan is a great example. The difference today compared to the past is the internet. In the past if a hoard was found it could have been liquidated quietly over a long period of time. However, today if a hoard is found it wouldn't take long before everyone knows about it. Can you imagine if a bag of 1895 Morgan dollars was found in a bank vault 50 years ago. The person that found it could slowly sell them at an extreme profit. However, if a bag was found last month it would be all over the internet with in a month. They would still be highly liquid and sell for a high price but, not at the same prices you could ask if it wasn't known that a $1,000.00 bag showed up. I know of many coins that are still considered rare but really aren't. The 1909-S VDB Lincoln cent is a prime example of a coin considered rare that's really not. Many were pulled from circulation and hoarded right after they were minted. This caused the coin to become scarce early on but, I have no problem finding one today.[/QUOTE]
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Do you own coins which were rare when you bought them, but no longer due to NEW HOARDS ?
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