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<p>[QUOTE="Sholom, post: 3427789, member: 17753"]Hey all, at some point last week, I mentioned that I was certain I had read a story about at attempt to corner a market on a coin . . . but I couldn't remember the specifics.</p><p><br /></p><p>With the help of Mr. Google, I searched a bit today, and found this quote:</p><p><br /></p><blockquote><p><a href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwjn67nDwJbhAhVObK0KHXGxBS4QFjAAegQIABAB&url=http%3A%2F%2Fwww.numismaster.com%2Fta%2FCoins.admin%3Frnd%3DSESRGDCZ%26%40impl%3Dcoins.ui.anonymouse.UiControl_ArticlePrint%26%40prms%3D41727469636c6549643d36393339%26%40windowId%3DMQNAS%26%40showStackMB%3D0%26%40pushOnStack%3D0%26%40noBG%3D1%26%40showMB%3D1%26%40ForPrint%3D1&usg=AOvVaw0ggTr-mub0fv_6-fSe_8uF" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwjn67nDwJbhAhVObK0KHXGxBS4QFjAAegQIABAB&url=http%3A%2F%2Fwww.numismaster.com%2Fta%2FCoins.admin%3Frnd%3DSESRGDCZ%26%40impl%3Dcoins.ui.anonymouse.UiControl_ArticlePrint%26%40prms%3D41727469636c6549643d36393339%26%40windowId%3DMQNAS%26%40showStackMB%3D0%26%40pushOnStack%3D0%26%40noBG%3D1%26%40showMB%3D1%26%40ForPrint%3D1&usg=AOvVaw0ggTr-mub0fv_6-fSe_8uF" rel="nofollow">www.numismaster.com/ta/Coins.admin?rnd=SESRGDCZ...</a></p><p>Proof nickels were of course made for collectors. Several dealers attempted to corner the market on the Shield and Liberty Head nickels without the word CENTS ...</p></blockquote><p><br /></p><p>Alas, the link no longer works. (If anybody knows how to find the original, let me know!) But, yes, I feel certain that was the story I had read, and tried to recall.</p><p><br /></p><p>Google also pointed me to a 1904 book called <i>Dickerman's United States Treasury Counterfeit Detector</i>, in which the author writes, about the 1883 no cents nickel:</p><p><br /></p><blockquote><p>One man has even gone so far as to try to corner the market in these coins. He already has over a thousand of them, and still buys all he can. He argues that after he gets hold of a great number of these nickels people who are collecting will have to come to him for them, and he can charge what he pleases. This man will have his hands full before he does this, for there were 1,000,000 of them originally issued. There are many people who have from ten to a hundred of these coins, patiently waiting for a rise, but I'm afraid they'll be disappointed like those who bought up all the trade dollars they could get at eighty-five cents. There is one man out West who now has 3,000 of these dollars, and is still buying. The 1883 nickels now command no premium whatever, and yet it has been over twenty years since they first came out. In the case of trade dollars, they are worth even less then they were, and their price seems to be steadily decreasing, as they rarely fetch more than 55 cents and never more than 60...</p></blockquote><p><br /></p><p>see <a href="https://books.google.com/books?id=w5cvAAAAYAAJ&pg=RA11-PA16" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://books.google.com/books?id=w5cvAAAAYAAJ&pg=RA11-PA16" rel="nofollow">https://books.google.com/books?id=w5cvAAAAYAAJ&pg=RA11-PA16</a> for more.</p><p><br /></p><p>(Yes, it is indeed painful to read of trade dollars going for 55 cents....)[/QUOTE]</p><p><br /></p>
[QUOTE="Sholom, post: 3427789, member: 17753"]Hey all, at some point last week, I mentioned that I was certain I had read a story about at attempt to corner a market on a coin . . . but I couldn't remember the specifics. With the help of Mr. Google, I searched a bit today, and found this quote: [INDENT][URL='https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwjn67nDwJbhAhVObK0KHXGxBS4QFjAAegQIABAB&url=http%3A%2F%2Fwww.numismaster.com%2Fta%2FCoins.admin%3Frnd%3DSESRGDCZ%26%40impl%3Dcoins.ui.anonymouse.UiControl_ArticlePrint%26%40prms%3D41727469636c6549643d36393339%26%40windowId%3DMQNAS%26%40showStackMB%3D0%26%40pushOnStack%3D0%26%40noBG%3D1%26%40showMB%3D1%26%40ForPrint%3D1&usg=AOvVaw0ggTr-mub0fv_6-fSe_8uF']www.numismaster.com/ta/Coins.admin?rnd=SESRGDCZ...[/URL] Proof nickels were of course made for collectors. Several dealers attempted to corner the market on the Shield and Liberty Head nickels without the word CENTS ...[/INDENT] Alas, the link no longer works. (If anybody knows how to find the original, let me know!) But, yes, I feel certain that was the story I had read, and tried to recall. Google also pointed me to a 1904 book called [I]Dickerman's United States Treasury Counterfeit Detector[/I], in which the author writes, about the 1883 no cents nickel: [INDENT]One man has even gone so far as to try to corner the market in these coins. He already has over a thousand of them, and still buys all he can. He argues that after he gets hold of a great number of these nickels people who are collecting will have to come to him for them, and he can charge what he pleases. This man will have his hands full before he does this, for there were 1,000,000 of them originally issued. There are many people who have from ten to a hundred of these coins, patiently waiting for a rise, but I'm afraid they'll be disappointed like those who bought up all the trade dollars they could get at eighty-five cents. There is one man out West who now has 3,000 of these dollars, and is still buying. The 1883 nickels now command no premium whatever, and yet it has been over twenty years since they first came out. In the case of trade dollars, they are worth even less then they were, and their price seems to be steadily decreasing, as they rarely fetch more than 55 cents and never more than 60...[/INDENT] see [url]https://books.google.com/books?id=w5cvAAAAYAAJ&pg=RA11-PA16[/url] for more. (Yes, it is indeed painful to read of trade dollars going for 55 cents....)[/QUOTE]
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Trying to corner the market - 1883 Liberty "No Cents"
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