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Once in a Lifetime Numismatic Opportunity

January 8, 2014 in Antique Coins, Canadian Coins, Coins, Coins for sale, Collecting, Gold, Gold Coins, Numismatica, Numismatics, Precious Metals, Royal Canadian Mint

By: Andy Schectman. January 7th, 2014 (http://blog.milesfranklin.com)

Hoards of coins – or discoveries of large caches of coins accumulated under unusual conditions – have fascinated people for generations.  Rare coin hoards infrequently come to market; and when they do, they almost always sell out quickly, commanding high market premiums.

One example that comes to mind is the GSA Hoard of U.S. Silver Dollars.  To wit, on December 31, 1970, legislation was signed authorizing their sale through the General Services Administration.  Over 2.8 million coins were sold to the public, for about $20 each.  The coins now sell for anywhere from $200 to several thousands of dollars each!

Moreover, in the mid-1980s, coins from the S.S. Central America were pulled from the ocean floor; with nearly 6,000 1857-S $20 Liberty gold coins found in over 8,000 feet of water.  Those coins now sell for over $10,000 in choice condition.

Finally, my personal favorite is the Wells Fargo Hoard of 1908 Saint Gaudens.  In the early 1990s, nearly 10,000 high-quality, 1908 No Motto Saint-Gaudens $20 gold pieces came onto the market.  Called the Wells Fargo Hoard, the coins had been untouched since 1917, as they had been originally designated for use as World War I debt payment.  The coins were housed in a Nevada Wells Fargo bank, which is why they are referred to as the Wells Fargo hoard.

Now let’s fast forward to the present, as Miles Franklin is privileged to be involved in what may be the best numismatic opportunity in nearly two decades.  Recently, we purchased a significant portion of what is now called the Bank of Canada Hoard, a rare collection of some of the first gold coins produced by the Royal Canadian Mint.

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