Coinosaurus Posted December 11, 2002 Share Posted December 11, 2002 Suppose an enterprising billionaire decided to buy all the coins of one issue, for example, all seated dollars in existence. How much would it cost if it could be done quietly? Link to comment Share on other sites More sharing options...
jtryka Posted December 11, 2002 Share Posted December 11, 2002 I would argue that it could never be done quietly, and so would eat away all those billions! Link to comment Share on other sites More sharing options...
Gunsmoke Posted December 11, 2002 Share Posted December 11, 2002 Reminds me of the Hunt brothers who tried to corner the silver market. Artifically raised prices and then the bottom dropped out. Link to comment Share on other sites More sharing options...
EVillageProwler Posted December 11, 2002 Share Posted December 11, 2002 First, let me say that you just gave me a heart attack... Second, it would cost that hypothetical billionaire much to his physical well-being. Third, I estimate the financial cost of purchasing the coins to be somewhere around 25 million dollars. EVP Link to comment Share on other sites More sharing options...
braddick Posted December 12, 2002 Share Posted December 12, 2002 The last hundred coins would be much more expensive than the first! Link to comment Share on other sites More sharing options...
CarlWohlforth Posted December 12, 2002 Share Posted December 12, 2002 It seems like there are possibilities to corner some tiny sections of the market. Start with something fairly low mintage, but not too popular. Then check to see how many coins were graded above a certain level. Then buy them when you see them. It should cost way less than 25 million to buy all PR 67 and above Mercury dimes that you can. How about proof 1907 Barber Dimes? Barbers seem less popular than the Mercs and have lower mintages. Does anybody have any cool stories of people who have tried doing this? Link to comment Share on other sites More sharing options...
Guest Posted December 12, 2002 Share Posted December 12, 2002 How about this , Someone buying the 14,000 2002 Platinum 1/10 Ounce Coin's ? Or the 9,500 2002 Platinum 1 Ounce Coin's ? Granted they are not really numistic by nature , but to get one would still cost a small fortune . Link to comment Share on other sites More sharing options...
Member: Seasoned Veteran DWLange Posted December 12, 2002 Member: Seasoned Veteran Share Posted December 12, 2002 About 25-30 years ago I saw a TV show in which the owner of two extremely rare stamps burned up the lesser of the two just to make his other specimen unique. OK, nobody gives a @* about stamps, but you can easily imagine the same thing happening with coins. It was some detective show (Cannon, Kojak?). I haven't seen it since, though it's probably in rerun on some network. Link to comment Share on other sites More sharing options...
EVillageProwler Posted December 12, 2002 Share Posted December 12, 2002 How hard do you think it would be to corner the market on the 1836 RE half dollar in problem-free condition? Or, the 1794 dollar (in any condition)? Or, every 1799 8x5 dollar in EF or better? Or, minus the 1859-O and 1860-O, every Seated Dollar in true UNC? Or, every O or S mint Seated Quarter in AU or better? ... EVP Link to comment Share on other sites More sharing options...
keithdagen Posted December 12, 2002 Share Posted December 12, 2002 There are a lot of series that aren't well-appreciated by collectors. Someone could definitely corner the market so to speak in those series, say Half Dimes or Half Cents, which don't always have the following of larger coins. If I were rich, I'd start melting every Texas commem I could get my hands on to make mine worth more. Link to comment Share on other sites More sharing options...
EVillageProwler Posted December 12, 2002 Share Posted December 12, 2002 Seriously, I know someone who's essentially corned the market on original, problem-free high grade (EF+, I think) Early Dimes (not Capped Bust). My buddies and I met him in Baltimore. Mark Borckardt was chatting with him after an evening session of the Logan material had finished, and we just walked right up and started to bow before him. This guy, btw, is the same one who won the bidding war over the Logan edge mirrors. EVP Link to comment Share on other sites More sharing options...
mrkelso Posted December 13, 2002 Share Posted December 13, 2002 $8456000. for all them coins at current spot. Thats a lot of salami sandwhiches. Link to comment Share on other sites More sharing options...
dealmakr-migration Posted December 14, 2002 Share Posted December 14, 2002 Have seen a concerted effort to buy up a lot of the $5 Jackie Robinson commem in MS about a year or so ago. Price went up almost 80% in a fairly short time. Miniscule mintage makes it possible. Also there are other commems that I am aware of that are being accumulated in higher grade 66 or better where the pops are surprisingly low and the prices are not being reflected yet. You would be surprised at which ones and the total cost for a shot at a corner. reagrds, dealmakr Link to comment Share on other sites More sharing options...
