Jeff Garrett: The World's Most Valuable Coin 1 1

[RWB]

These "hoards" are merely the residue of normal business transactions. There are many commercial, economic and political reasons why they were not dispersed, but almost no banker wanted to hold gold long term - it was a waste of capital. (For many the word "hoard" implies an intentional act. This is likely an incorrect assumption. Bankers, brokers and merchants make money on "inventory turn" or throughput.)

Edited July 2, 2021 by RWB

[GoldFinger1969]

4 hours ago, RWB said:

These "hoards" are merely the residue of normal business transactions. There are many commercial, economic and political reasons why they were not dispersed, but almost no banker wanted to hold gold long term - it was a waste of capital. (For many the word "hoard" implies an intentional act. This is likely an incorrect assumption. Bankers, brokers and merchants make money on "inventory turn" or throughput.

Gold was held on behalf of investors and in the private bank/wealth departments.  But a small % has always been held by banks and central banks as per BIS regulations.

[Henri Charriere]

On 6/30/2021 at 11:59 AM, World Colonial said:

I read the article in Coin Week.  I'd guess most collectors who are aware of the most prominent US coinage already know the 1849 DE and J-1776 are potentially (and presumably) worth more.

I agree, until something that's known or likelier unknown, suddenly surfaces whose chain-of-custody is undisputed and cleared for sale.

[GoldFinger1969]

The 1849 was a regularly-issued coin I believe, but J-1776 (the Liberty Head $20 DE) is a true pattern.

[World Colonial]

11 hours ago, GoldFinger1969 said:

The 1849 was a regularly-issued coin I believe, but J-1776 (the Liberty Head $20 DE) is a true pattern.

1849 DE is included in the Red Book.  That's how most collectors know it.  It's also listed as Judd-117 in Judd and Kosoff's "US Patterns, Trials, and Experimental Pieces".  Or is in the copy I own.

I don't know if J-1776 is in the Red Book.  It wasn't to my recollection in earlier editions, 1998 and earlier but might be wrong about that.

There are numerous patterns listed in the Red Book which in the past at least were not clearly identified as such.  This creates the false impression it's a rare or at least scarce regular mint issue which in the past affluent collectors did or might have included in their definition of a complete set.  The best example is the 1879 Flowing Hair Stella included in type sets.  It's actually a relatively common pattern with a mintage of 400.

[GoldFinger1969]

The National Park Foundation released silver and gold copies (not 100% but close enough) of the Liberty Head DE.