In the first part of this article, which takes a quick look at some of the more interesting stories involving investing in rare gold coins, we looked at the Smithsonian Museum’s involvement in the preservation of rare gold coins, and learned that the Smithsonian got it’s start from a large donation of gold coins. We will also look at the Atocha shipwreck, but in this part, we will look at the rare gold coins of Harry Bass. As I stated before, the words “investing in rare gold coins” conjures up many images in the minds eye, such as a rich old man sitting by the fireplace looking at gold coins in a magnifying glass. I cannot tell you if Harry Bass ever did this, but I can tell you that since he lived in Dallas, Texas and was quite wealthy, he probably did have a fireplace.
The Harry Bass Rare Gold Coins
Harry Bass was more of a coin collector than someone who was a stalwart advocate of investing in gold, or investing in rare gold coins in particular. His family had interests in Texas oil, and Harry oversaw these interests. Harry Bass also sat on the board of a bank, and one day an accountant friend asked Harry if he could possibly use his banking connections to procure a roll of quarters, 1955-D quarters to be exact, since very few of these coins were struck. Bass obliged and was able to find a roll of 1955-D quarters for $10, and he bought them and then sold him to his friend for the face value of the coins, which was of course $10. Several years later the two friends met up again, the story goes, and the accountant commented to Bass that he had sold the single roll of quarters for $100, or ten times the face value. This got Harry Bass thinking, and since he had a very fair amount of discretionary income, he reasoned that rare gold coins might be a good, safe place to park some of his wealth for a while. Harry began collecting fervently and it is said that he rarely missed a rare gold coin auction. When Harry Bass began collecting, many of the $20 Double Eagles he purchased could be had for $100 or less. Over his lifetime he amassed a collection or rare gold coins, pattern coins, and other instruments of currency which eventually numbered close to ten thousand.
Harry Bass “Collected” His Way To A Very Significant Rare Gold Coin Fortune
When Harry Bass died rather suddenly in 1998, decisions had to be made about what to do with his coin collection. Ultimately it was decided that the rarest of pieces would be kept together and displayed in perpetuity as a testament to his love and desire to collect and educate others regarding rare gold coins. The remaining coins, the more common and less valuable of these rare gold coins, were to be sold at auction. This auction raised over $38 million. When told of the auction’s success, it is said that his widow proclaimed that they had never spent anywhere near that amount investing in rare gold coins.
While you may not experience the same success as Mr. Bass, there is still definitely opportunity in this market for profit, and ITM Trading can help you get started. Call us at 1.888.OWN.GOLD