Which Billionaires Collect
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73 posts in this topic

Posted (edited)
On 5/15/2022 at 5:40 PM, VKurtB said:

I’d bet none do. I do know that Dallas Mavs owner Mark Cuban is a high end coin collector. I also know Tampa Bay tight end Rob Gronkowski is into proof Morgan dollars, not that he’s a billionaire. 
 

You have a cockeyed perception of error collectors. Even Ken Potter has the appearance of a smelly homeless guy who just emerged from a blue tarp tent under a Los Angeles overpass.  

Potter is a cancer survivor a warrior.  You are just an insufficiently_thoughtful_idiot.

Edited by Errorists
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Posted (edited)
On 5/15/2022 at 6:03 PM, Errorists said:

Potter is a cancer survivor a worrior.  You are just an insufficiently_thoughtful_person.

And I am a three time cancer survivor too. I haven’t lost the ability to dress myself or know what a barber is. 

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On 5/15/2022 at 6:09 PM, VKurtB said:

And I am a three time cancer survivor too. I haven’t lost the ability to dress myself or know what a barber is. 

Your point is mute.

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On 5/15/2022 at 6:09 PM, VKurtB said:

And I am a three time cancer survivor too. I haven’t lost the ability to dress myself or know what a barber is. 

In addition to being rude, your comments about his appearance are off topic. 

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On 5/15/2022 at 6:40 PM, VKurtB said:

I’d bet none do. I do know that Dallas Mavs owner Mark Cuban is a high end coin collector. I also know Tampa Bay tight end Rob Gronkowski is into proof Morgan dollars, not that he’s a billionaire. 
 

You have a cockeyed perception of error collectors. Even Ken Potter has the appearance of a smelly homeless guy suffering from schizophrenia who just emerged from a blue tarp tent under a Los Angeles overpass.  

Purportedly, 735 billionaires in 2021 in the US and 2665 globally, both according to Forbes.

I'd guess maybe a few percent (both in and out of the US) are coin collectors at all, of some sort.  Higher in the US than most or everywhere else but the absolute number from this small group is quite low or very low.

Statistically, the probability is effectively zero that a single billionaire or anyone worth anything close to it (when money was worth a lot more) fits the profile the OP is asking about, either now or previously.

Errors are even less interesting to the super wealthy than they are to the mainstream collector, affluent or not.

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On 5/16/2022 at 6:01 PM, World Colonial said:

Purportedly, 735 billionaires in 2021 in the US and 2665 globally, both according to Forbes.

I'd guess maybe a few percent (both in and out of the US) are coin collectors at all, of some sort.  Higher in the US than most or everywhere else but the absolute number from this small group is quite low or very low.

Statistically, the probability is effectively zero that a single billionaire or anyone worth anything close to it (when money was worth a lot more) fits the profile the OP is asking about, either now or previously.

Errors are even less interesting to the super wealthy than they are to the mainstream collector, affluent or not.

Errors and varieties?

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Posted (edited)
On 5/16/2022 at 7:37 PM, Errorists said:

Errors and varieties?

Yes, neither are interesting to the vast majority of collectors, with the notable exception of the “biggies”, like some classic overdates and the doubled die to beat them all - the 1955 cent. Relative to the size of the hobby, errors and varieties are a tiny niche. There is seldom even a single exhibit of them at ANA conventions, even though there is a class set aside for them (which usually is without a single exhibit), and on major bourse floors with hundreds and hundreds of dealers present, the number who handle errors and varieties in particular is a small handful, usually 2 or 3. Lots of beginners love FINDING them, but seemingly no one wants to BUY them. It’s a demand vs. supply mismatch. 

Edited by VKurtB
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On 5/16/2022 at 8:37 PM, Errorists said:

Errors and varieties?

Yes, overwhelmingly collected by "cherry pickers" at face value.

I have looked in the Heritage archives at the error category a few times.  Heritage is probably the most representative for aggregate US collector preferences, everything except modern NCLT which they sell less of outside of a coin like the 95-W ASE.

21,621 lots sold since the 90's, slightly less than 1% of all US coin lots sold by Heritage.  This is for all US errors combined.  It's also less than number of lots sold for the vast majority of individual US series.

Of these 21,000+, five sold for over $100K, 174 for over $10K, and 3,100 between $1,000 and $10,000.  The balance (over 85%) sold for less than $1,000 with about 60% (13,000+) for less than $300.

By comparison, Heritage has sold 25,345 FDR dimes though the number by price tier is (somewhat) less for the more expensive.  If categorized as a classic, the silver FDR is by my reckoning the US series with the lowest aggregate collector preference.  The clad, far lower, with the exception of the "no S" proofs and the dates without MM.

So, this should give you an idea how US collectors view errors generally.  It's somewhat preferred to the FDR dime but not much else.

It should also demonstrate to you that, if the general collector preference is so low, it's going to be even lower for a (prospective) collector who can afford to buy any coin they want, billionaire of not.

Even worse for varieties generically most of which are also from post 1964 US circulating coinage.  Varieties from non-circulating series sell for more but it's because the coins are worth more generically, not due to the variety.

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Posted (edited)

Go to a show where CONECA has a table. They show some of their faves in their case. Who is into them? Mostly kids. It is sad really. But also understand that when you do run into a true variety and error fan, they typically collect nothing else. They are obsessed. You, of all people, can probably relate. 

Edited by VKurtB
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On 5/15/2022 at 1:59 PM, VKurtB said:

Considering that none exist, it’s a pretty pointless question. What they WOULD prefer is a solid MS68 1937-D Buffalo with all 4 legs, which conceivably COULD exist. 

Seems to me a 3-legger is, by the very definition, a "flawed" coin. Quote me if I'm wrong...

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On 5/19/2022 at 4:54 PM, mufdiver said:

Seems to me a 3-legger is, by the very definition, a "flawed" coin. Quote me if I'm wrong...

I try for logical consistency. I see the 1937-D 3 leg the same way you do. It’s an over polished die, period. Why should it be seen as special because of where the polish job was? 

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On 5/19/2022 at 5:57 PM, VKurtB said:

I try for logical consistency. I see the 1937-D 3 leg the same way you do. It’s an over polished die, period. Why should it be seen as special because of where the polish job was? 

It's in the Red Book and coin folders.  I'm assuming that's the source of its original prominence.  To those who use either as their standard of completion, it was necessary for a complete Buffalo nickel set.

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On 5/19/2022 at 8:07 PM, World Colonial said:

It's in the Red Book and coin folders.  I'm assuming that's the source of its original prominence.  To those who use either as their standard of completion, it was necessary for a complete Buffalo nickel set.

I inserted a 21.2mm slug into that hole in the Dansco album and wrote on it in black Sharpie, “WHY?”  I did the same for the 1918/17 Buffalo. I don’t follow, I decide. 

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On 5/19/2022 at 8:15 PM, VKurtB said:

I inserted a 21.2mm slug into that hole in the Dansco album and wrote on it in black Sharpie, “WHY?”  I did the same for the 1918/17 Buffalo. I don’t follow, I decide. 

So would you skip both coins across the pond if they were both MS-68 and above?

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On 5/20/2022 at 8:08 AM, Errorists said:

So would you skip both coins across the pond if they were both MS-68 and above?

False dilemma fallacy.  There are more than two choices.

Someone can also want the coins in lower grade without paying ridiculous prices when they don't care about marketing.  

The two coins are common and don't have a distinction consistent with the market price.  Most US collectors find both interesting to some extent, but that doesn't mean they want to pay the money even if they have it.

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On 5/20/2022 at 10:10 AM, World Colonial said:

False dilemma fallacy.  There are more than two choices.

Someone can also want the coins in lower grade without paying ridiculous prices when they don't care about marketing.  

The two coins are common and don't have a distinction consistent with the market price.  Most US collectors find both interesting to some extent, but that doesn't mean they want to pay the money even if they have it.

Well if he does side arm them into the lake to watch them skip let me know which lake it is so I can jump into the lake with my scuba gear and under water metal detector to retrieve them. TYVM..

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On 5/20/2022 at 10:31 AM, Errorists said:

Well if he does side arm them into the lake to watch them skip let me know which lake it is so I can jump into the lake with my scuba gear and under water metal detector to retrieve them. TYVM..

I can identify the lake for you. It will be Guntersville Lake, the southernmost point of the lakes dammed to create the Tennessee Valley waterway. From there, the Tennessee River goes northeast toward Chattanooga and northwest toward Huntsville and Muscle Shoals to eventually end up where the battle of Shiloh was held. But I’ll sling worthless error coins into it where the water is deepest, near Guntersville Dam. 

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On 5/20/2022 at 11:47 AM, VKurtB said:

I can identify the lake for you. It will be Guntersville Lake, the southernmost point of the lakes dammed to create the Tennessee Valley waterway. From there, the Tennessee River goes northeast toward Chattanooga and northwest toward Huntsville and Muscle Shoals to eventually end up where the battle of Shiloh was held. But I’ll sling worthless error coins into it where the water is deepest, near Guntersville Dam. 

Nah pick a shallower place.

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Posted (edited)
On 5/20/2022 at 12:03 PM, Errorists said:

Nah pick a shallower place.

I pick what works best for me. The whole schmeer needed to be deep enough to transport the first stage of a Saturn V by barge. 

Edited by VKurtB
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Apil 4 'Slickcoins' arises - April 6 'Errorists' pokes his reptillian head up.  All you guys conversing with this multi-name troll should stop.  If it post pics like Ratzi33 and writes like Ratzi33 it is Ratzi33. If you ignore something long enough it will go away.

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Posted (edited)
On 5/20/2022 at 12:18 PM, Alex in PA. said:

Apil 4 'Slickcoins' arises - April 6 'Errorists' pokes his reptillian head up.  All you guys conversing with this multi-name troll should stop.  If it post pics like Ratzi33 and writes like Ratzi33 it is Ratzi33. If you ignore something long enough it will go away.

And return this site to the moribund state from which it came. These trolls need to be FOUGHT FIERCELY, not merely ignored. If I don’t fight them, I’ll surrender to Alabama culture and just sit on the porch spittin’ watermelon seeds for distance. 

Edited by VKurtB
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On 5/19/2022 at 5:57 PM, VKurtB said:

I try for logical consistency. I see the 1937-D 3 leg the same way you do. It’s an over polished die, period. Why should it be seen as special because of where the polish job was? 

Not only is a 3 Legger a poor quality Buffalo it is also not rare and maybe not even scarce. Many dealers have several. You could probably buy 10 examples if you could afford them.

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On 5/21/2022 at 10:03 AM, numisport said:

Not only is a 3 Legger a poor quality Buffalo it is also not rare and maybe not even scarce. Many dealers have several. You could probably buy 10 examples if you could afford them.

Just a expensive lake skipper..

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On 5/21/2022 at 11:03 AM, numisport said:

Not only is a 3 Legger a poor quality Buffalo it is also not rare and maybe not even scarce. Many dealers have several. You could probably buy 10 examples if you could afford them.

It's a common coin.  It would be easy to buy 100 within a relatively short time, in the sense that the coins are available to be bought.

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On 5/21/2022 at 3:55 PM, World Colonial said:

It's a common coin.  It would be easy to buy 100 within a relatively short time, in the sense that the coins are available to be bought.

What is your estimate of the total pop of the 37-D 3 legger?

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On 5/23/2022 at 1:19 PM, VKurtB said:

What is your estimate of the total pop of the 37-D 3 legger?

.....10s of thousands......ngc has certified over 7000 alone n that doesnt count all the ag3s n lower that will never be submitted, no clue what pcgs has certified.....

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