Would it be possible for someone to corner the UHR market?
 

I've been thinking a lot about what will happen once the mint stops producing UHR's.

Say, mintage stops at the end of the year at ~100K total mintage. No more UHR's ever, the world's most beautiful coin.

The gold community quick realizes that hey, this coin is done, no more. Quite a shock.

I'd reckon that most of the UHR's 60K+ are held by little guys like us, who have maybe 1 or 2. These will most likely not sell, unless the price really drives up.

It's that price I'm wondering about.

Could it be possible that some rich person (think Hunt brother decendant), or a large bullion dealer, would just go on a massive spending spree buying UHR's? Say one guy buys 40K UHR's quickly to corner the market. The price for these coins skyrockets, due to unavailability.

1.4 billion chinamen running around trying to get into the UHR market. :biggrin:

Do you think this could be possible?

Re: Would it be possible for someone to corner the UHR market?
 

It is possible but not probable IMO because the "little guys" will not sell because they like them that much. The only way that I think that could happen is that a "super rich" person that had a Bill Gates-sized bank account could buy all of the UHRs but then that "super rich" person would have to offer several $1000's (maybe several $10,000's) over spot gold to achieve "cornering" the UHR market.

Re: Would it be possible for someone to corner the UHR market?
 

The first 70,00 were pretty well dispursed between the numismatic folks (read Saint LOVERS) and the riverboat gamblers.

Frankly buying 25 UHR at $1340 each now and who knows tomorrw takes a few "coins or a big hit on the old credit card!"

$33,500.00 is a few Mickie Dees Big Macs.

You'd have to go to Weight watchers after that! :thumb.aspx::111:

Re: Would it be possible for someone to corner the UHR market?
 

I thought History Student HAD already cornered the market on UHR!!! :bawling:

Re: Would it be possible for someone to corner the UHR market?
 

What are they doing? Dumping inventory?

Effective September 21, 2009 at 9:00 am (ET): The United States Mint will remove the household order limit on the 2009 Ultra High Relief Double Eagle Gold Coin.

http://goldismoney.info/forums/image...es/36_1_25.gif

Re: Would it be possible for someone to corner the UHR market?
 

Ordering Limits to be Removed for 2009 Ultra High Relief Double Eagles


The United States Mint has announced that the ordering limit for the 2009 Ultra High Relief Double Eagle Gold Coins will be removed effective September 21, 2009 at 9:00 AM ET.

When the coins first went on sale January 19, 2009, there was an ordering limit of only one coin per household. The ordering limit was finally raised to ten coins per household on July 27, 2009. On August 31, 2009, the limit was raised a second time to twenty five coins per household.

As the ordering limits have been raised, the pace of sales for the UHR has ratcheted higher. Before the US Mint began raising the limit, the coins were selling at a pace of less than 1,000 coins per week. The first week of sales following the ordering limit increase to 10, the US Mint saw 3,799 coins ordered. In the most recent week, the US Mint sold 2,298 coins, bringing the total sales to 92,346.

The UHR Double Eagles are currently priced at $1,339 each. Under the US Mint's pricing policy, the price of the coins can be adjusted as often as once per week if the average price of gold moves across the designated $50 price increments. The current price of $1,339 reflects an average price of gold between $950.00 to $999.99. A price increase was narrowly missed this week, but if gold retains its current levels, UHR prices would be increased to $1,389 by the middle of next week. The US Mint has generally put price changes into effect around mid-morning on Wednesday.

http://mintnewsblog.blogspot.com/

Re: Would it be possible for someone to corner the UHR market?
 

Jeez, no point in cornering the market since there won't be a limited supply anymore.

Re: Would it be possible for someone to corner the UHR market?
 

They are not the most beautiful coin. And I've seen the eBay prices for high grades sliding down lately.
Perhaps the UHR is the beanie baby of modern gold issues.