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Trying to corner the market - 1883 Liberty "No Cents"
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<p>[QUOTE="johnmilton, post: 3429918, member: 101855"]I really dislike the “cornering the market” thing. The person who does it almost always loses money because selling the commodity is like an elephant in a rowboat. You put too many on the market; the price drops. If people find you have done it, it becomes even harder to sell the item. In the end, many hoarders lose patience and dump the items at a loss. In the mean time, those who would like to own item are denied ownership.</p><p><br /></p><p>Over the years ago guy bought up most all of the 1909 VDB Matte Proof Cents. After he paid a high price for a very high grade example, he offered all of them for over $1 million on eBay. In the mean time collectors were denied the opportunity to add these coins to their sets. I’d like to have one to complete a set of 20th century Proof type coins. It’s never going to happen because one guy has decided that he wants to control market.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 3429918, member: 101855"]I really dislike the “cornering the market” thing. The person who does it almost always loses money because selling the commodity is like an elephant in a rowboat. You put too many on the market; the price drops. If people find you have done it, it becomes even harder to sell the item. In the end, many hoarders lose patience and dump the items at a loss. In the mean time, those who would like to own item are denied ownership. Over the years ago guy bought up most all of the 1909 VDB Matte Proof Cents. After he paid a high price for a very high grade example, he offered all of them for over $1 million on eBay. In the mean time collectors were denied the opportunity to add these coins to their sets. I’d like to have one to complete a set of 20th century Proof type coins. It’s never going to happen because one guy has decided that he wants to control market.[/QUOTE]
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