Which Billionaires Collect 1 1

[Errorists]

error coins?

[GoldFinger1969]

No idea....and I don't think you need to be THAT rich to collect error coins. 

Edited May 13, 2022 by GoldFinger1969

[Alex in PA.]

   

[VKurtB]

I know of a couple of billionaires who collect coins, but not errors. Billionaires tend to be smart - their collections seek perfection, not imperfections.

On the other hand, there’re tons of m-o-r-o-n-s with backward baseball caps hawking errors online. 
 

Pick one. 

Edited May 13, 2022 by VKurtB

[Errorists]

Wow.  Boy have they been brain washed. Perfection is no longer rare these days. I see a lot of PF 70 and MS 70 coins by top coin grading companies on ebay. I bought a few last week..They are a dime a dozen these days. 

[World Colonial]

On 5/13/2022 at 11:44 PM, Errorists said:

Wow.  Boy have they been brain washed. Perfection is no longer rare these days. I see a lot of PF 70 and MS 70 coins by top coin grading companies on ebay. I bought a few last week..They are a dime a dozen these days. 

Not a valid comparison.  Those are all modern NCLT.

All errors are either rare or scarce by definition since it's supposed to be struck unintentionally.  It's not a meaningful rarity.  Even with "normal" coins, very few collectors pay high prices for a coin just because it has a narrow (or contrived) rarity. 

Most "rare" coins are expensive due to how collectors collect, not due to the rarity or "rarity".  Any US coin with an actual (semi) scarcity is expensive but in world or ancients, there are many scarce or rare coins that are not.  Most expensive coins are collected as part of a set, of some sort.  Most error coins don't fit into traditional sets. 

From errors, one example is the few IHC struck on QE planchets.  The coin is gold and presumably bought by bigger budget IHC collectors as a supplement.  But there is no reason to expect someone outside of the low proportion of (US) collectors whose primary interest does not include errors (maybe as many as 10,000) to randomly pay "big money" for a coin they have no reason to want.

I have also looked (on the CONECA website) at the full category list.  It's a long one.  Most lack the distinction you imply.

Most (the overwhelming percentage) are US moderns, which have a very low collective collector preference.  US classic errors aren't cheap or low priced.

Why would you think a single billionaire would collect this niche when most collectors generally only collect it haphazardly?  They have better ways to spend their money other than inflating the value of your collection.

[RWB]

People who have a lot of money, are not necessarily wealthy, at least in the full sense of the word.

The people with a lot of money own things for personal validation, and to show others they are somehow "better" or superior based on one small category of humanity.  Money is used to separate and divide, rather than improve unify; it becomes a surrogate for emotional greed and moral bankruptcy. A billionaire's coin "collection" might be worth a lot of money, but its value is not measurable by that means. (Look at the homes of Supreme Court justices - modest places in comfortable but not ostentatious communities. Those are rich men and women whose wealth is not measured by the number of helicopters that can land on their yacht's deck.)

The billionaire owner of the Washington Football team (once the Redskins now the Commanders) is one of the most impoverished people in the region. He is poor in every measure of human culture and society except money. When he dies, even that tiny distinction will vanish.

I really don't place any value at all on what a billionaire might collect: it is all for the wrong reasons.

[VKurtB]

We have an OP here who has deluded himself into believing he is assembling coins that wealthy people will want and pay dearly for. He is, of course, about as mistaken as he could possibly be. The error part of this hobby represents a tiny portion of the hobby. And those that are desired are NOT miserable little die scratches and cracks that our OP gets all wobbly-kneed over. He is up to his eyeballs in separation from reality. 
 

There ARE coins that will be coming to market that some billionaires will bid on, but they are NOT what @Errorists cares about. Rather, they are the stuff that @GoldFinger1969 fantasizes over and which @RWB wrote about in his book that has a thread with nearly 60 pages of posts.  “Finest known” is what billionaires seek, whether in collectible McLarens or rare coins. 

Edited May 14, 2022 by VKurtB

[Errorists]

You mean billionaires would rather have a MS70 flawless 1937D "Three Legged Buffalo" nickel over a MS70 flawless 2005P Kansas "Spitting Buffalo" quarter? 

[VKurtB]

On 5/15/2022 at 1:37 PM, Errorists said:

You mean billionaires would rather have a MS70 flawless 1937D "Three Legged Buffalo" nickel over a MS70 flawless 2005P Kansas "Spitting Buffalo" quarter? 

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. 

Edited May 15, 2022 by VKurtB

[Errorists]

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. 

Ok how about a MS69?

[Oldhoopster]

Spitting Buffalos are nothing more than over hyped die cracks.  Yes, they are an error.  Are minor die crack errors uncommon? No. What's the difference between this crack and one on a cent or nickel? No difference.  Why pay a premium for a common type of error? No idea.

If you like collecting minor errors, like die cracks, filled dies, etc, that's great.  Learn from them and enjoy them.  If you're paying a premium because you think they'll go up in value, then just remember beanie babies, or baseball cards from the early 90s.

Or worse yet, don't be the person repeating the hype and trying to sell these to new collectors who don't know any better.  Those people are some of the worst this hobby has to offer.  Preying on others for their own financial gain is no better than the Chinese counterfeiters IMO

Edited May 15, 2022 by Oldhoopster

[Errorists]

Isn't the 3 legged buffalo from die polishing also an error?

[VKurtB]

On 5/15/2022 at 2:09 PM, Errorists said:

Isn't the 3 legged buffalo from die polishing also an error?

Technically, no. No it isn’t. 

[VKurtB]

On 5/15/2022 at 2:05 PM, Errorists said:

Ok how about a MS69?

None of those exist either. NGC has graded 7 1937-D 4 legged Buffs at MS68, one of which has a star, probably for color. 

[Errorists]

On 5/15/2022 at 2:24 PM, VKurtB said:

Technically, no. No it isn’t. 

A variety?

[VKurtB]

On 5/15/2022 at 2:26 PM, Errorists said:

A variety?

Uh huh. 

[Errorists]

On 5/15/2022 at 2:27 PM, VKurtB said:

Uh huh. 

So die polishing made it a variety. 

[VKurtB]

On 5/15/2022 at 2:29 PM, Errorists said:

So die polishing made it a variety. 

I suppose. Just as substandard die sandblasting made some 2017 Kennedy half dollars in the Enhanced Uncirculated sets that year into a variety. 

[Errorists]

On 5/15/2022 at 2:32 PM, VKurtB said:

I suppose. Just as substandard die sandblasting made some 2017 Kennedy half dollars in the Enhanced Uncirculated sets that year into a variety. 

So sandblasting and or die polishing can make varieties. Die gouges can also make varieties. Correct?

[VKurtB]

On 5/15/2022 at 2:38 PM, Errorists said:

So sandblasting and or die polishing can make varieties. Die gouges can also make varieties. Correct?

They can. Look, errors and varieties are a niche in this hobby. Most collectors couldn’t give a rodent’s rump about them. But there ARE fans of them, and a few are REALLY serious about them. There’s an organization that grew together from TWO organizations, CONECA, who specialize in them. Know why they merged? Not enough interest to keep them both going. Make of that what you will. 

[Errorists]

On 5/15/2022 at 2:44 PM, VKurtB said:

They can. Look, errors and varieties are a niche in this hobby. Most collectors couldn’t give a rodent’s rump about them. But there ARE fans of them, and a few are REALLY serious about them. There’s an organization that grew together from TWO organizations, CONECA, who specialize in them. Know why they merged? Not enough interest to keep them both going. Make of that what you will. 

I bet they are mad about so many PF70's and MS70's coming out these days.. To me a much rarer coin would be a MS70 or a PF70 variety coin.

[MarkFeld]

On 5/15/2022 at 2:56 PM, Errorists said:

I bet they are mad about so many PF70's and MS70's coming out these days.. To me a much rarer coin would be a MS70 or a PF70 variety coin.

Submitters are happy, while most buyers aren’t. But none of this has much of anything to do with what billionaires tend to collect. I don’t even understand why you chose your thread title, unless it was just wishful thinking.

[Errorists]

On 5/15/2022 at 3:33 PM, MarkFeld said:

Submitters are happy, while most buyers aren’t. But none of this has much of anything to do with what billionaires tend to collect. I don’t even understand why you chose your thread title, unless it was just wishful thinking.

To find out which Billionaires collect errors/variety coins?

Edited May 15, 2022 by Errorists

[VKurtB]

On 5/15/2022 at 4:13 PM, Errorists said:

To find out which Billionaires collect errors/variety coins?

None that I know of. Wealthy people tend to get their advice from ultra high end dealers, such as Legend, for just one example. 
 

They do NOT tend to use YouTube videos. 

[Oldhoopster]

@errorist

Information on defining a variety.  This is from the NGC site (the very same you're using on a regular basis).  Sometimes doing a little research can help you gain a better understanding and your questions will be more focused.

https://www.ngccoin.com/variety-plus/what-is-a-variety/

Regarding "which billionaires collect errors"?  Many/most wealthy people tend to keep their private lives private unless the are the attention seekers (and most billionaires didn't get to be billionaires by seeking attention).  Which billionaires are coin collectors?  Which billionaires are art collectors?  Which billionaires are antiquities collectors?  I don't think you're going to find any of that floating around the internet or Forbes 500 Wealthiest Americans issue

[Errorists]

On 5/15/2022 at 4:51 PM, VKurtB said:

None that I know of. Wealthy people tend to get their advice from ultra high end dealers, such as Legend, for just one example. 
 

They do NOT tend to use YouTube videos. 

Yeah. It's better to be a search master on Ebay then YouTube.. Much faster too.. 

[Errorists]

On 5/15/2022 at 5:07 PM, Oldhoopster said:

@errorist

Information on defining a variety.  This is from the NGC site (the very same you're using on a regular basis).  Sometimes doing a little research can help you gain a better understanding and your questions will be more focused.

https://www.ngccoin.com/variety-plus/what-is-a-variety/

Regarding "which billionaires collect errors"?  Many/most wealthy people tend to keep their private lives private unless the are the attention seekers (and most billionaires didn't get to be billionaires by seeking attention).  Which billionaires are coin collectors?  Which billionaires are art collectors?  Which billionaires are antiquities collectors?  I don't think you're going to find any of that floating around the internet or Forbes 500 Wealthiest Americans issue

Fine and dandy.. So which Billionaires collect error/variety coins 🤔?

[VKurtB]

On 5/15/2022 at 5:19 PM, Errorists said:

Fine and dandy.. So which Billionaires collect error/variety coins 🤔?

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.  

Edited May 15, 2022 by VKurtB

[VKurtB]

On 5/15/2022 at 5:12 PM, Errorists said:

Yeah. It's better to be a search master on Ebay then YouTube.. Much faster too.. 

These two are rapidly approaching parity in their pointlessness.