I was reading another thread about over paying on a coin
PTVETTER
Posts: 6,024 ✭✭✭✭✭
I think I may have over paid for a coin, but it just looked so nice I couldn't help myself
Pat Vetter,Mercury Dime registry set,1938 Proof set registry,Pat & BJ Coins:724-325-7211
6
Comments
There are probably many, many other collectors who have done the same...and you can count me among them.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
May I see yours @PTVETTER ? and I'll show mine
I remember a well known collector saying " eye appeal is the most important thing in collecting
It not here yet let me see if I can post an image of it
I've done it many times.
A top-ranking registry participant once told me that, to build the set you want to own, you will have to pay up and he was right.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
https://www.greatcollections.com/image.php?id=4104a80cf87dd03c4b0da3d9ca99cd07
Very nice, bright coin! That is not an easy coin to find. Where are my sunglasses!
.....and this one too
I like this coin
Yummy eye candy!
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I paid what was & still is today, a record price for this coin at its original grade:
I paid a little more than I should have...not sorry.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
Right ON!
Soothing to your eyes ........ it must worth the extra extra extra
Did they have it listed at a lower price, but you tipped for the service?
Yes...But...
By the time you complete your set, you'll be good enough at grading to tell which ones you overpaid for.
If that helps
My Saint Set
Is it really “over” paying? If you get what you wanted then the price you paid is the “current” price at the moment in time.
Enjoy!
If you are happy with the price you paid it is a good purchase. If you later find that it's not as valuable as you thought, that is the price of education.
Jim
BTW. all attractive coins.
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
It's that ole left brain right brain thing going on. You're gonna be okay. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
Given the drop in the coin market, I’ve overpaid for each of my previous acquisitions!
"Got a flaming heart, can't get my fill"
I have paid well over catalog for certain coins and done quite well on them. A guide is just that, a guide. It is not the end all. Doesn’t matter to me who graded it, if there is a sticker, if it’s raw, or whatever. One needs to interpret and judge for themselves from their experience on whether or not a coin is a good value and is attractive for the grade at a given price.
Overpaying is typically the only way I can get good coins. And by good I mean that I like it/them more than the underbidder or "other offer".
``https://ebay.us/m/KxolR5
That 35D is beautiful! I know your affinity for the Mercury series, so I can understand why you wanted this particular coin. As for overpaying for it, it is a matter of perspective. It is only overpaying when you pay more than it is worth AND more than what you were willing to pay going into the deal AND you regret pulling the trigger.
I have willingly paid a premium over market price for something that I really wanted and never see available. There is a premium that I am willing to pay for opportunity as well as for something that is very appealing to me. In an auction, it is easy to go over what you intended to pay because you really want that coin. The key in this is the regret in making the purchase. If you are happy with the purchase and glad that you snagged that special coin, then how could you feel that you overpaid?
Merry Christmas, Pat.
The way my stuff seems to be going on price, I overpaid getting change for $1 bill.
I have gladly overpaid for many, many coins with supreme eye appeal as a collector and I have also overpaid for even more as a dealer looking for just the right inventory.
Plead guilty overpaying especially better dates.
Only time will tell if you indeed "overpaid". If I buy a coin today for $1000 and it gains in price to $1500 in five years, it's easy math to say I realized a 50% profit if I sold it at that point. However, if I didn't sell and five years later it's back to $1000... did I break even, or did I lose $500? One can seriously beat themselves senseless over-thinking this market!
In the greater scheme of things, I think the more germane answer to the question "did I overpay?" lies in our approach to this hobby in the first place. If you're a dealer and this is your livelihood, then it's the foremost question on your mind up until the point where you sell it, hopefully for more than what you have into it. If you're an "investor" and you're sitting on a "tangible asset", then you're hoping your investment pays a dividend at the end of some amount of time. At that point, timing is everything! If you bought 10 years ago with the expectation that you'd be selling at a profit today... ooops! But if you bought 15-20 years ago and sold 10 years ago... winner, winner!! If you're just a run of the mill collector (like me) and this hobby is for the pure enjoyment of being able to touch a piece of history, then the question of "did I overpay?" is a moot point.
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Look at some of the bidding that goes on. Sometimes ya just gotta have it. I don't flip, because if I did I would probably flop.
I purchase what I want (need). I don't mind going overboard if the coin has that "look" I want.
Pete
I will have a better idea when I get it in hand.
I am thinking about taking it to FUN!
The very few times I paid a premium for a coin (25-30%), I was buried in it. Yes, it was attractive for the grade, and all of that, but I was / and am still buried in it, even after getting it upgraded.
Personally, I won't overpay for a coin unless it's really scarce and I know I won't see another one like it for five years. TDN used to own a Classic Large Cent that to me, fits this category.
Very few coins are actually hard to find. Not the 1916 SLQ, the 1877 IHC, etc. If you want to pay a premium for a coin which is rare in a particular grade, that's your choice. I'll pass.
"Seu cabra da peste,
"Sou Mangueira......."
Bingo! Those are the situations where I will be aggressive(but not crazy). I recently bought a coin that hasn’t had an equal come on the market in over 30 years, except for one coin which has a higher technical grade by 5 points, but was recolored and is poorly struck. That coin actually went for huge moon money.