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Saddle Ridge Hoard Hits the Market This Week

42 posts in this topic

http://saddleridgehoard.com/

 

With the Saddle Ridge Hoard hitting the market later in the week is anyone here looking to get a piece of the action and get their share of the gold?

 

"The highlight of the hoard is an 1866-S No Motto Double Eagle valued at around $1 million. Other highlights include the following double eagles which are the finest known or tied for the finest known examples for their respective issues: 1877-S PCGS MS65; four 1888-S PCGS MS64; two 1889-S graded PCGS MS65; and an 1894-S PCGS MS65.

 

"The first coin available from the Saddle Ridge Hoard will be an 1874-S $20 Gold Double Eagle struck during the first year of production at the second San Francisco Mint. The coin will be auctioned during a fundraiser held May 27, 2014 at 8:30 PM Pacific Time (11:30 PM Eastern Time) with proceeds donated to the San Francisco Museum and Historical Society, which is raising money to renovate the second San Francisco Mint and develop an on-site museum.

 

"At the fundraiser, there will be 60 coins from the Saddle Ridge Hoard on display including the 1866-S No Motto $20 Gold Double Eagle. This will represent the largest number of coins from the hoard that have been seen together publicly.

Following the auction, the balance of the coins from the Saddle Ridge Hoard will be made available for sale live on Amazon.com and Kagins.com. Sales will open on May 27, 2014 at 9:00 PM Pacific Time (Midnight Eastern Time).

 

"Approximately 90% of the coins will be made available on the Amazon.com website, representing the first hoard of major historical significance to be offered outside of traditional numismatic channels."

http://news.coinupdate.com/saddle-ridge-hoard-gold-coins-offered-on-amazon-com-and-kagins-com-3305/

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They will all be well out of my price range but it will be fun to watch.

 

I wonder if Boiler, TDN or even our own Bill Jones will be attempting a win.

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Some fantastic coins that are great to look at. This was the routine quality the US Mints delivered day-in and day-out. But, the 'ole wallet has little in it except moths, so I'll have to enjoy the event vicariously.

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They will all be well out of my price range but it will be fun to watch.

 

I wonder if Boiler, TDN or even our own Bill Jones will be attempting a win.

 

No. I think that with all the hype the prices are not going to be viable for me. I rarely pay for pedigrees and the names of former owners.

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Interesting story and all, but not for me. Old US gold isn't really my thing and these will all definitely be outside of my price range.

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For me pedigree doesn't impress that much but I can see where others may want to catch the excitement and there are plenty with big bucks and will get the red carpet treatment when they buy from the pros in this business like Kagin's. Many collectors like original, dirty, natural toning, etc.. I don't know if any of those coins will fit that bill since my understanding is they all were conserved to some extent.

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I agree that just the name will hype these coins and will be aimed at those high dollar buyer/collectors. Waaaaaayyyyyyy out of my league. lol

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Well the cheapest ones were $2575 and I snapped this one up.

 

http://www.pcgs.com/Cert/28771400/

 

It is designated as cleaned since PCGS does not conserve and grade, but for the money this coin looks REALLY nice! I also got Amazon credit 12 months same as cash! I really like pedigreed coins so its a great way to get a nice coin at a good price.

 

28771400_large.jpg

 

 

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Well the cheapest ones were $2575 and I snapped this one up.

 

http://www.pcgs.com/Cert/28771400/

 

It is designated as cleaned since PCGS does not conserve and grade, but for the money this coin looks REALLY nice! I also got Amazon credit 12 months same as cash! I really like pedigreed coins so its a great way to get a nice coin at a good price.

 

28771400_large.jpg

 

 

Thanks for posting them and congrats, Gary!! That coin looks really NICE!! :cloud9: I don't think that 'll buy any but it's sure fun to look. Thanks again!!

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I would really like to snag one of these coins just because of their story.

They have a story?

 

Eight cans of gold coins were dug up. No one knows who buried them, when, or why. Other than having some superb quality coins in the group there s nothing special about them. We may know who dug them up but not specifically where.

 

This is a story? Definitely a what, maybe a who, and no when, where, or why. They don't have a story, they have hype.

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Looking at some of the coins offered, most of these common type II $20s are just AU but being offered at $4000! I know a dealer who has had an 1874-s $20 (PCGS OH AU58) in his case for over a month @ around $1700. So this sale really begs the question why would collectors be interested in the low end coins?

 

http://www.amazon.com/b/ref=amb_link_416988642_1?ie=UTF8&node=9243922011&pf_rd_m=ATVPDKIKX0DER&pf_rd_s=merchandised-search-leftnav&pf_rd_r=1XG8YBCSYH9S1AHRRVV6&pf_rd_t=101&pf_rd_p=1815338082&pf_rd_i=8590321011

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To me, it is definitely a story... I understand what you were saying, and for sure would be interested/curious about the answers to those questions, but regardless of what goes unanswered, these coins definitely have a story... Not sure I would pay the premiums its going to take to own one, but I would snap-buy if the price were anywhere near the value of the coin.... just because of the story.

 

 

I mean, maybe I stand alone in my feelings here, but to me, owning one of these coins would represent a real life story of nearly every mans dream!

 

I still cant wrap my mind around these people finding this "buried treasure".... This may not ever be rivaled again, in terms of finding buried coins...

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I know there has been a lot of estimates, and guesses, probably more or less speculation. But I haven't heard anything of late. Does anybody know anywhere close to the numismatic value of this find? I am sure this hoard includes coins that will never be discussed/publicized, and sold privately without any accessible record, but I am just wondering, from what is/has been publicly offered, and sold, is the value still at or near the original estimates?

 

My initial thoughts were that with the finest knowns, 1 of 1's, scarcities, etc... that it could easily surpass the estimated value...

 

 

Anyone have any insight??

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I know there has been a lot of estimates, and guesses, probably more or less speculation. But I haven't heard anything of late. Does anybody know anywhere close to the numismatic value of this find? I am sure this hoard includes coins that will never be discussed/publicized, and sold privately without any accessible record, but I am just wondering, from what is/has been publicly offered, and sold, is the value still at or near the original estimates?

 

My initial thoughts were that with the finest knowns, 1 of 1's, scarcities, etc... that it could easily surpass the estimated value...

 

 

Anyone have any insight??

 

It wouldn't be hard to come up with accurate estimates of likely sales; but they should hit a brick wall with the $1500 or so coins being listed for $4000. I spoke with John Albanese for a couple minutes today and he has heard from collectors who want to send him these coins. He figured around $2000 might be fair for some of the Saddle Ridge lower end coins.

 

Even at $2500-$4000 a piece for the lower end coins, say around half of them (700 or so) if they were able to move all of those plus the high end coins I don't know how you hit the $10M. Probably someone has done the math, quite a few hypotheticals.

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I would really like to snag one of these coins just because of their story.

They have a story?

 

Eight cans of gold coins were dug up. No one knows who buried them, when, or why. Other than having some superb quality coins in the group there s nothing special about them. We may know who dug them up but not specifically where.

 

This is a story? Definitely a what, maybe a who, and no when, where, or why. They don't have a story, they have hype.

 

Agreed. I don't see any premium being attributed to this pedigree in secondary markets.

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That means "92% of the design is all there..." right? So "MS62" means that 62% of the design remains. Geeee - grading coins is easy.... :)

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And how many people will think that "Grade rating PCGS 92" means that it is 30 points higher than a PCGS MS 62???

 

Anybody?

Class?

Bueller?

 

One would have to be profoundly unversed in coins to believe that but I am sure there are people like that who do exist.

 

It would be kind of hard to mistake as the slab says:

 

"Genuine - UNC Details (92 - Cleaned)"

 

You would have to literally know nothing about coins........

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Looks like you have to spend at least $5500 to get a coin that is in line with PCGS' price guide.

 

You mean the lower-end stuff is grossly overpriced and it's only at about $5K that you aren't paying a big premium to the market ?

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It is likely that many purchasers are not coin collectors.

 

You got it, Roger....and in a few years when the overpriced stuff has fallen to a nominal premium to the gold content folks will be talking to class action lawyers.

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To me, it is definitely a story... I understand what you were saying, and for sure would be interested/curious about the answers to those questions, but regardless of what goes unanswered, these coins definitely have a story... Not sure I would pay the premiums its going to take to own one, but I would snap-buy if the price were anywhere near the value of the coin.... just because of the story. I mean, maybe I stand alone in my feelings here, but to me, owning one of these coins would represent a real life story of nearly every mans dream! I still cant wrap my mind around these people finding this "buried treasure".... This may not ever be rivaled again, in terms of finding buried coins...

 

I'm not averse to paying a premium for 'a story' -- but how much ?

 

The SS Central America was an even bigger story in some respects and had a tragic story with a much more dramatic recovery story. Premiums charged on actual gold ranged from 500 - 2,000%. The $50 re-strike using original gold in a new coin sold for $5,000 with $750 worth of gold (550% premium).

 

Gold has gone up 4-fold since then and the coins are basically at break-even. Even when gold was $1,900 these things were at a slight loss, break-even or miniscule profit.

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It wouldn't be hard to come up with accurate estimates of likely sales; but they should hit a brick wall with the $1500 or so coins being listed for $4000. I spoke with John Albanese for a couple minutes today and he has heard from collectors who want to send him these coins. He figured around $2000 might be fair for some of the Saddle Ridge lower end coins.

 

Confused....what do you mean collectors want to send JA 'these coins' ??

 

I am guessing you think the coins are overpriced by 100% ($4,000 vs. $2,000)

 

Even at $2500-$4000 a piece for the lower end coins, say around half of them (700 or so) if they were able to move all of those plus the high end coins I don't know how you hit the $10M. Probably someone has done the math, quite a few hypotheticals.

 

So the real 'gouging' is going on with the lower-end stuff, the higher-priced stuff is being bought by savvy buyers close to actual auction/market prices ?

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Looks like you have to spend at least $5500 to get a coin that is in line with PCGS' price guide.

 

You mean the lower-end stuff is grossly overpriced and it's only at about $5K that you aren't paying a big premium to the market ?

 

You got it!

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