A friend of mine and one of his buddies split some money to buy an abandoned storage unit, and these were in there, along with the original receipt from PCS from 1996, and the certificates of authenticity from the Washington Mint. With the cherrywood box and all The original buyer spent $341.50 after tax. I'd like to give my buddy a fair offer, he is newly married and has a pregnant wife, plus I've bought from him in the past at good prices, so its been a win win. Anyways, I'd like to know if there is any valuation of these you folks can come up with that would be better. Essentially, if the provenance can't be proven to the TPGs then they are basically just CLAIMED hoard coins. Since my friend got them as a part of the storage unit, he isn't really tied to the $341.50 price point. I've explained the situation to him. He also has found another certificate for an uncirculated 1882-CC from this "PCS" company, but the coin hasn't been found in the storage unit yet. We are both hoping it is there. Photos below. Thanks! I can get more if needed. I do not have the coins in hand.
All appear MS 60-63 besides the casino hoard that appears to have some wear above the ear, but it could be unstuck metal, cant really tell. Dates and mints of the coins involved. 1890 S Redfield Hoard 1884 O Casino Hoard 1887 O Continental Hoard 1898 Treasury Hoard
The cherrywood box is nice. Those are the names of 4 hoards - but there is absolutely no traceability back to the original hoard. Redfield was issued in a unique holder, as was the GSA hoard. Continental was released quietly with no fanfare, most people didn't even know it was a hoard until after it was sold (there were something like a million Morgans). So, it appears you have 4 UNC Morgans in a fancy box. I'm sure whoever bought it paid a hefty marketing fee, and you won't be able to get that back.
understood. I thought this would be the case, especially considering a couple of these hoards were dispersed and sold even before the TPGs came about. I guess I will have to pay for the coins without the provenance, it will save me some cash I guess.
Looking at the current grey sheet and assuming MS62 1890 S Redfield Hoard…$130.00 1884 O Casino Hoard….$78.00 1887 O Continental Hoard…$188.00 1898 Treasury Hoard…….$82.00
Yes, they are all about MS62 I'd say. Thanks for getting the greysheet price, I don't have access to that. Recent eBay sales didn't do as well either.
You think that is a fair price for the coins involved? Not sure if it would be a good money-maker for me. I have the money to spend on it but not trying to tie too much money up in an item I could either not make my money back on or have to pretty much beg someone to buy.
Casino and Treasury hoard are both decent MS judging on luster, the Continental looks MS too with some nice toning, which could bring a premium, and the Redfield looks a bit dull and maybe AU at worst, hazy MS at best. As the others said, some of these came out in their own special holders, in your case, the Redfield in a large red holder (photo below), but you would need actual certification of this, not just a nice wooden box. Although Randy gave you an estimate, I don't like greysheet because prices of collectibles always change, and you want to price your coins based on auctions and prices that were actually realized. I tend to take 10% off of whatever the greysheet or red book says. Assuming they are all genuine, and assuming they all grade MS63, but that they are not real from their respective hoards, you would still be looking at around $500 market price in TPG holders (which would itself set you back around $100, so around $400 net). 1890 $170 1884 $70 1887 $160 1898 $100 Toning could increase value, higher grades could increase value, certification of the hoard could increase value, so at least you have almost covered the cost of the storage unit.
Nothing wrong with helping a friend. It all depends on your pocketbook. I would ask myself if the slabs were the same size as an ANACS soap box. What, could I put in the box to make my money. Then sell the coins individually or put them into the stash for a while.
Thanks, he understands that I need some money off the top as well. He trusts me to be more fair + knowledgeable than our local pawn shop, which means I feel especially inclined to make sure I am fair.
I purchased the items for the price the original buyer paid in 1996. Don't have them in hand yet, they are at my parents house and not my apartment. However, they look nice and I can't wait to see them this weekend.
