Reply to Thread

Message:: [QUOTE="ToughCOINS, post: 1813411, member: 20480"]I understand completely, and probably should have used the word "hoarder" instead of "accumulator".  Nonetheless, the mindset seems common to both . . . to acquire a large number of a particular coin in the belief that one will prosper from having done so.   There is an inherent contradiction in that belief however . . . if one is able to gather a large quantity of any given date, it is probably not worth the price paid to do so.  Over a week ago, in a different thread, I mentioned one holder of over 50 pieces of the famed 1909-S VDB Lincoln Cent.  That buyer provides support for an unnaturally high price on that date, and I know of at least one other who does the same with the very same date. Such misguided forays will likely suffer the same fate as did the Hunt brothers who tried to corner the market in silver, although government intervention would not be necessary to cause the fall.  That the supply of a desired item has dried up is not enough to drive sustained higher prices . . . the depletion of supply must be more organic than contrived, or the price will retreat when buyers are sought for some or all of the released hoard.[/QUOTE]