Community Voice Responses (04/02/13)

From the March 8th Numismatic e-newsletter: Would you be more likely to buy a coin if it was from a famous hoard? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

If I were interested in that particular type of hoard I would say this would be the last factor which might convince me to make the purchase, a qualified yes.
I collect Irish coins and in the same vein with purchasing coins from a hoard I purchased Irish coin sets from the auctioned collection of John Jay Pittman.
Chris Budesa
West Orange, N.J.

The most intriguing aspects about coin collecting are the stories behind the coins, why they were made, how they were used, and who they came into contact with before they ended up in my collection. So, if I can link a particular coin back to a famous hoard, collector, or dealer, it adds another story to the coin, which adds value to the coin for me for which I will pay more to acquire.
Brendan Tupa
Minneapolis, Minn.

Based upon available funds, absolutely. Many a unique find can be within a hoard. Even finding a “hoard” on the floor of a regional show can happen. On one such occasion, a purchase of a 2-pound bag of foreign coins paid off. Within it, two silver Canadian coins and a 1797 British large cent. I still have all many years later.
Gary Kess
Berkel en Rodenrijs, Netherlands

No, I don’t think I would be more likely to buy a coin just because it is from a famous hoard unless it fit into my collecting plans. Then if I had the money I might.
Griff Carnes
Kerrville, Texas

The answer is simply no. I would not buy a coin simply because it was from a particular hoard.
1. Prices on hoard coins are inflated in many cases to make money based on hype. Once the excitement dies down the additional value goes away.
2. A common date hoard coin is not more likely to appreciate in value than like coins. So why pay a premium?
3. A rule similar to “Buy the coin – Not the holder” applies here. “Buy the coin – Not the hype.” No matter what happens, an MS-65 1881-CC silver dollar has the value of an MS-65 1881-CC silver dollar. That you can count on. You cannot count on any additional hoard value you attach to the coin.
Richard Frantz
Washington, Mo.

Absolutely not. Why would I?
Mel Kassenoff
West Orange, N.J.

In response to your question, I stay far away from hoard coins. I purchased some in the past and a few were grossly ove rgraded. I suspect the grading company went easy on the grading because the coins were a large hoard submitted by a big dealer.
Ferdinand Wirth
Fort Pierce, Fla.

Nope, I wouldn’t.
Jim Marceau
Kerrville, Texas

I would like to buy from hoards.
Edward E Cordova
Millersville, Md.

Expensive hoard? No.
Bruce Bergeron
Address withheld

It would not make a difference. If it was a 1909-S VDB in fine condition it is still a 19090-S VDB. I buy a coin on its condition and eye appeal, not who had it before me.
Tom Daugherty
Address withheld

No, I would not favor buying a coin from a famous hoard. They just bring a higher premium on the coins just because they came from a specific hoard. I can go buy the exact same coin from a local dealer or show that will not carry that
Name withheld

Yes.I would buy a coin all the more if it was authenticated as coming from a specific hoard.I love looking at an old coin and wondering where it’s been or who’s collection has it been in over all the years.Who would’nt want a coin where the history could be traced back to say the New York City subway hoard or an early half dollar from the Harmony Society hoard. Coin collecting and history go hand in hand and what could be better than having a documented history of where a certain coin has been.
David Tortorice
Buffalo N.Y

Yes i would buy a coin if i knew it was from a famous hoard and if it was within budget.
Scott McGowan
Chicago IL

As any numismatist would say, “ I have this coin which came from the famous Carson City Mint’s hoard, and I will sell it to you at less that the premium price.” Well, that very nice of you to do that for me. How much is it going to cost me?
My answer is NO!
Larry W. Young
Tyrone, Ga.

I really don’t care where a coin came from, just as long as it isn’t below the basic collection I started with my grandfather’s pockets, or above the standard grade I’ve established for myself since I’ve been buying with my own money. I must fit in – who cares from whence it came?
Paul. H. Bromely

Not really. If I genuinely want a coin I’ll pretty much buy it no matter where it’s from. To be more direct, concerning famous hoard coins it just depends on the coin and what famous hoard it was from.
Bryan
New Columbia, Ky.

SS Central America and SS Republic hoards are significant because, in both of these finds, the quantity and quality of gold coins were significant and were accounted for, conserved, and graded by PCGS and NGC, respectively, in an expeditious manner with great fanfare for the numismatic community. These coins all sell for a significant premium to non-shipwreck finds due to their important historical provenance.
David Salvette
Address withheld

Sure, just like the mint mark it tells a story as to the history of the coin. Where it may have settled for a while and an obvious connection between two collectors in the hobby who may have never had to opportunity to meet each other than through the coins they both collected. A pedigree of sorts!
Alan Hepler
Laytonsville, Md