Stack's W 57th St hoard question

I have actually seen some nice Binions. For those that like some color on a Morgan, here is one I used to have:

 

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Oh, sure, there are some attractive Binions. I've owned a couple in the past. But the story is complete hype. I can make up an interesting story for any coin or hoard that you want. Hire a couple of fiction writers and they could make up a whole TV series about it. Doesn't make it true, interesting, or significant numismatically.

 

Is there some doubling on the bottom of that 1887 date, or is it a light reflection?

 

I believe that is the "pullaway effect"

"When a Morgan dollar is struck, the metal is pushed into the design on the die. Near the edges, the metal is being moved quite a bit and this stretching and pushing around the design out to the rims elongates and linearizes the metal restricting it's ability to patinate the way the other metal has around it. A toned Morgan with this characteristic is almost undoubtedly naturally toned as AT and IT methods use accelerated methods to achieve color will generally not display this characteristic."

See here:
http://www.jhonecash.com/coins/tonedmorgans.asp

 

I've never owned a single one. I don't care about the hoards. I'm just saying it had an interesting story...this one does not.

 

The rumor about the W57th hoard is that Stacks was cherry-picking from it for YEARS. After they got the good stuff into the market place, the remainder was 'discovered' with great fan fare (including pictures of armed guards carrying endless bags of stuff into the store).

Certainly there are some nice coins in those labeled slabs. A few. But the majority that I have seen, both in photos and in hand, were graded, um, "somewhat generously".

Binion too was a hoard - as in an accumulation without reference to quality. There are some nice pieces in those Binion slabs, but there are also a lot of genuine four pawed one tailed dogs.

 

I hadn't heard that, but it makes intuitive sense.

 

This is one of the nicer ones that ended up in my collection, although I assure you I didn't pay more for the label. Sorry it loaded sideways.

 

Depends who is submitting and what their agreement is. The big boys get better bulk rates than you or I would, but generally if a high enough percentage grades out they won't charge for the ungraded ones

 

Is there any story that goes along with the W 57th street hoard/collection? I looked and found a news article about how the collection was found by stacks I think. Is there anything on who is actually responsible for the accumulation like this? Why would they not put out all the information?

 

Thanks for the article GDJMSP, sorry I may be a little slow here. If I understand correctly, this was not just one mans collection. Stacks/Bowers purchased all of these over the years?

 

Saw your post about Binion Hoard Coins and had to look at the one I have.
Yes I would agree there could be some embellishment when they come up creative labeling.
They listed a 1923 Peace MS 65 as a Prestige Single,sounds impressive so I bought it. NGC # 180132-081, you can go to NGC and check it out. Good coin but not sure it's a 65,but hey it's mine so it can't hurt.

 

1m coins with a 10m valuation averages out to the melt value of a dime each....

 

That would be 10 dollars each.

 

Imo this 'hoard' is akin to the guys on Ebay who sell made up jars...I mean jars of granddads old coins he found behind a false wall while renovating.

 

Your false wall doesn't have a jar behind?

 

Not until I'm done filling about 50 jars, at which time I'll build the wall itself. Then while renovating a few years later I'll 'find' the wall and jars and begin with marketing it to suckers.

 

Behind a false wall, I believe, is where the Redfield hoard was found. He tossed bags of silver dollars down a coal chute.