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Dumpster Diver
Penny Collector Member
USA
474 Posts |
 Posted - 08/15/2009 : 06:47:15
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Hi All
I've been fortunate to have a seemingly unlimited source for 90% at 9-10x face for awhile now. I don't collect coins, just silver, and look for the least worn ones. They allow me to cherrypick and I got a very nice '38D Walker when getting a roll yesterday!
Looking on ebay, there are 126 auctions/BIN right now for this coin. The mintage was only 407K and it got me thinking (daydreaming)...If I was a billionaire, I could conceivably corner the market on this coin! You could quietly scoop them up online and at coinshows regardless of condition. By the time anyone got wise to it you'd possess the majority of them and the value would skyrocket! Now, granted money would have to be no object...Think about how many were lost in the Great Melts of '79-'80 to begin with.
So my question to the group are:
1. Has anyone ever heard of this being done before?
2. If you were a billionaire what coin/date/mintmark would you target?
3. I get a lot of NIFCs while searching halves. Say collectively our group chose to hoard 2008Ps with a mintage of 1.7M...What % of these do you think we could acquire in the next 10 years?
Hope everyone is having a great weekend!
P.S. I'm about a billion bucks short of being a billionaire.
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"You're not really gonna throw that out...are you"? |
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Dumpster Diver
Penny Collector Member
USA
474 Posts |
Posted - 08/15/2009 : 07:20:23
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| Oh yeah- Should I sell it to buy more or just hang on to it? Any thoughts? |
"You're not really gonna throw that out...are you"? |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 08/15/2009 : 12:48:37
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Nice catch on your 1938-D half. Looking through bullion silver, I found mine the very same way last year.
Question #1
Yes, it has been tried before on a number of low mintage silver and gold coins. Speculators typically acquire a certain number quickly and near impossible to get more.
Cornering the Market” on Specific Gold Issues
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Question #2
If I were a billionaire, I would try to corner the market on the world's most prestigious coins, such as the 1913 Liberty Nickel.
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Question #3
Value is a function of the demand for a coin. Even if you acquired 100,000 NIFCs from 2008, how much would that really effect the demand? There's just no mystique about these clad halves. Given how spread out this coin is amongst hoarders, collectors, and speculators, I doubt that you could get that many in quantity from any one place. I don't think the effort would be worthwhile for the time spent on it.
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---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 08/15/2009 : 13:02:15
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I think that you best bet to corner a market would be on new issue coinage. For example, the early 2008 Silver Eagles had an error where the 2007 reverse was struck on a 2008 obverse. When these coins came out, nobody knew about it until some guy found it and wrote a question into a coin magazine, I think. This kicked off a little frenzy as folks tried to find their own version. By buying these first errors, you create the initial market. If you acquire enough of them, you ARE the market.
Of course, this could backfire on you as well. Some errors turn out to be quite common, but some are really rare. That's what I would do, at least, if I had the billion in the first place.
I think the old issue rare mintages are played out by now... the known examples are already priced based on availability. |
goto the new and improved realcent: http://realcent.org |
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thewalrus81
Penny Sorter Member
93 Posts |
Posted - 08/15/2009 : 17:12:30
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| If I were a billionaire, I wouldn't be too worried about cornering any kind of market! I just don't understand the desire or goal from that standpoint; the only goal to cornering a market in my mind would be to make money...then again, once you're a billionaire, I guess the next goal is to become a trillionaire... |
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magnasort
Penny Pincher Member
USA
174 Posts |
Posted - 08/16/2009 : 00:02:38
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| Get all the 9x face you can! Even if they are 'slicks' that is a heck of a good deal. Even 10x allowing you to pick is great... local dealers here are stuck at 12-13x. |
Magnetic sorters, no moving parts except the coins |
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Robarons
Penny Hoarding Member
USA
522 Posts |
Posted - 08/16/2009 : 00:22:37
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I agree with Magnasort, buy the stuff at 9x times all day long, thats an excellant price under spot!
One thing that I would think when cornering a certain is that who would want or afford that date any more. You could knock over the 1914-D supply and could get a crazy amount, say $700. That is pretty close to a 09-S VDB. Most people will either ignore the date (too much) or would rather buy the rarer VDB instead. |
Robber Baron= Robarons |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/16/2009 : 00:25:15
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| I'd buy a south American country, exploit it for it's natural resources, then resell it to the Chinese. |
Trolling is an art. |
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 08/16/2009 : 13:53:34
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If I find a high $$$ key date coin CRH it will be sold and turned into bullion. I found a 3 cent piece in the reject tray one day- so it was free to ME. I took it and traded it for an ounce of silver, as nice as that coin was I believe that ounce will do ME more good one day. Here's a pic, HH Mark
BTW as for the walker since I am working on a Dansco book it would probly take its place there at least for a little while.
Wonder what I could trade my Seated for.
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"54/54/2280" |
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Dumpster Diver
Penny Collector Member
USA
474 Posts |
Posted - 08/17/2009 : 21:17:35
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Thanks for the articles Country- interesting stuff!
ME CO-did you find that seated in a roll??? |
"You're not really gonna throw that out...are you"? |
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 08/17/2009 : 22:30:34
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quote:
Originally posted by Dumpster Diver
Thanks for the articles Country- interesting stuff!
ME CO-did you find that seated in a roll???
Yep in a roll. Wierd thing was it was the only keeper in the whole box. HH Mark
Guy on Tnet a month or so ago found a 1916D merc dime in a bag, I would be hard pressed not to try to turn that into gold. |
"54/54/2280" |
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1938 D Walker and 3 Questions For The Group
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