The Redfield Collection / Hoard of Silver Dollars...
Ian Russell on Sat, Oct 29, 2011 05:49:25 PM
We are often asked about the some of the more famous collections and hoards that have come out over the years. Nowadays they are few and far between, although back in the 1950s, 1960s, and 1970s, some amazing collections came on the market.
One such collection is the Redfield hoard of silver dollars. Comprising of 400,000 Morgan dollars, this ranks in my books as a hoard, as opposed to a collection.
Yes, that's right, 400 bags of Morgan dollars that were accumulated over several decades in Reno, Nevada. As LaVere Redfield would buy the bags, he would carry the heavy bags home and store them in his basement.
Mr. Redfield would also accumulate significant land holders in and around Reno, Nevada, and made other money in the stock market. At the time of his death in 1974, his estate was valued at more than $100 million.
In 1976, Steve Markoff of A-Mark Coin Company purchased the hoard intact for a whopping $7.3 million (although still a fortune today, back in 1976, that was a vast fortune). The coins were then marketed primarily by Paramount Coin Company. You will still find the coins in "Redfield" holders today, some with the "Redfield" name and others with just Paramount.
GreatCollections offers Redfield coins from time to time in our weekly certified coin auctions.