Strategic Tech Leadership: Building Your 1890 Mint Set Roadmap for Engineering Excellence
December 5, 2025How I Authenticated a Rare 1952 Proof Lincoln Cent (Complete Step-by-Step Guide)
December 5, 2025
When Coin Collecting Reveals Tech Truths: M&A Due Diligence Unlocked
What can a rare 1890 coin set teach us about billion-dollar tech acquisitions? More than you might think. When evaluating companies for mergers, I’ve found technical audits mirror how collectors assess vintage coins. Let me show you why your target’s tech stack might be hiding a “rare find” (and I don’t mean the good kind). After 15+ years guiding M&A deals, my team and I keep returning to numismatic principles to spot real value.
The Complete Set Principle: Your Tech Stack’s Missing Pieces
Picture a collector hunting every denomination from 1890. Now imagine your target company’s infrastructure – does it have all essential components working together? Last quarter, we reviewed a promising SaaS platform only to discover their “1890 quarter moment”: a payment module with no documentation or fail-safes. Like spotting a valuable Carson City mint mark, this rarity signaled disproportionate risk.
Valuable collections—and sustainable tech stacks—aren’t assembled by accident. They’re carefully curated over time.
4 Coin-Collecting Tactics That Expose Tech Truths
1. Grading Code Like Rare Coins
The Professional Coin Grading Service’s 70-point scale works surprisingly well for software:
- MS-60 (Just Functional): Code that runs but keeps engineers awake at night
- MS-65 (Investment Grade): Reliable systems with thorough documentation
- MS-70 (Perfection): Code so clean it belongs in a museum
Try This: Start with creating a simple script assessing test coverage and dependency freshness. You’ll quickly see where your “collection” needs polishing.
2. Scalability: The Mint’s Production Limit Parallel
Just like 1890’s limited silver coin runs, tech systems often hide capacity ceilings:
- Can databases handle holiday traffic spikes?
- Does auto-scaling actually work when needed?
- Are load tests realistic or just check-box exercises?
Real Finding: A fintech’s valuation dropped 40% after their system crashed at 12,000 users – their “rare coin” moment revealing artificial scarcity.
3. Hidden Risks: The Specialist’s Eye
Rare coins carry authenticity concerns – tech stacks have their own risks:
- That one mission-critical module only Joe understands
- Third-party services sunsetting next year
- “It’s always worked this way” processes with no docs
Cautionary Tale: We once found an authentication system maintained by a single contractor (their “rare specialist”). We required them to rewrite it or set aside $2M before deal closure.
4. Smart Upgrades: When to Polish Your Assets
Collectors debate cleaning coins – we analyze tech improvements:
| Improvement | Cost | Value Boost |
|---|---|---|
| Better Test Coverage | $50k | +15% valuation |
| Cloud Migration | $200k | +30% buyer interest |
| Legacy Overhaul | $1M+ | Case-by-case negotiation |
Building Your Audit Toolkit
Transform coin-collecting wisdom into technical due diligence:
- Inventory First: Map every component like denominations in a set
- Grade Ruthlessly: Be the PCGS of code quality
- Spot Rarities: Celebrate unique strengths but flag single-point risks
- Plan Improvements: Target upgrades that maximize value
The Final Appraisal: What Collectors Teach Us
Through 127 acquisitions, I’ve learned tech audits share more with numismatics than you’d guess. Both require spotting hidden value, detecting clever forgeries, and knowing when restoration increases worth. The best targets resemble complete 1890 sets – not because they’re perfect, but because they reveal thoughtful curation. Remember: in M&A tech due diligence as in coin collecting, you’re not just buying assets – you’re investing in craftsmanship.
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