Love it or Sell it?

BillDugan1959

One comment, one question...

First, the comment: you yourself have far far more detailed information about your personal financial position. Yet without telling us enough, you expect us to give you an answer that would work for you. That's a very basic flaw in this type of question/ analysis. The answer would likely be very different for two persons, one with a $30 million net worth and a clean balance sheet, and another with a $2 million dollar net worth and considerable debts.

Second, the question: If you've already made up your mind (which seems to be the case), why do you even ask?

Cougar1978

Would sell it all if price right.

MFeld

@BillDugan1959 said:
One comment, one question...

First, the comment: you yourself have far far more detailed information about your personal financial position. Yet without telling us enough, you expect us to give you an answer that would work for you. That's a very basic flaw in this type of question/ analysis. The answer would likely be very different for two persons, one with a $30 million net worth and a clean balance sheet, and another with a $2 million dollar net worth and considerable debts.

Second, the question: If you've already made up your mind (which seems to be the case), why do you even ask?

I think he did “tell us enough”. He said “...newly retired, in good health, and have enough money to do whatever you want and still leave your children enough cash to pay off there homes, student loans, and all other debt.”. He also said “The money won't change your life.”

coinsarefun

@drei3ree said:
I'm leaning toward the "keep it." I look at and enjoy my better coins a couple of times a month and would probably regret selling...

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I agree. I'm very close to retiring myself, no kids, no bills. I've had several of mine offered multiples if what I paid.
I just keep holding and figure then if and when all gets sold at least what I paid for them would make me happy.

rte592

@ms70 said:
"the offer is for triple the consensus value"

THIS is the opportunity you might not see again. Sell it.

3x value is tuff to beat.
Maybe pay down the kids's mortgage and stretch the money even further.

DIMEMAN

@rte592 said:

@ms70 said:
"the offer is for triple the consensus value"

THIS is the opportunity you might not see again. Sell it.

3x value is tuff to beat.
Maybe pay down the kids's mortgage and stretch the money even further.

Since when are parents responsible for their kids mortgage's??!!

savitale

3x value for a mid 6-figure coin suggests someone is willing to “overpay” by nearly $1 million. I would certainly jump on that offer. But if you’re in a position where that money won’t make a difference in your life, I suppose keeping the coin is a reasonable option.

privatecoin

I'd say sell it. Most likely wont have a chance like that again.

Coinscratch

My first instinct like most here is sell. And mostly because most of us haven't yet reached this particular pinnacle, most may not, and that kind of money overrides otherwise rational thought patterns of collectors on lowly fixed incomes.

So first and foremost I think a Congratulations and round of applause is in order here, For achieving basically the ultimate goal so many of us set out to do, family, health, career, money, etc. Good fricking job on that one.

But, the fact that your even asking has me wondering if this coin is actually one or two on this list or is it actually five.
We all have a driving force whether it be your favorite coin or the porche in the driveway that keeps us motivated and driving for those goals.

If its five - Sell and laugh all the way to the bank.
If its 1 or 2 keep it sell the other four and still laugh all the way to the bank.
You have to ask yourself a question: Did I shoot 5 or 6 six shots - Well punk are you feeling lucky?

hchcoin

@drei3ree said:
So, here's the dilemma... You're newly retired, in good health, and have enough money to do whatever you want and still leave your children enough cash to pay off there homes, student loans, and all other debt. You've collected wine, coins, guns, art, etc. most of your life. However, coins are your first love. One day, your coin dealer calls and says he has an interested buyer for coin X. Coin X isn't your favorite, but it's top 5. It's also not likely to be offered for sale again (in the same condition) in your lifetime. It's a mid six figure coin and the offer is for triple the consensus value. The money won't change your life...your heirs love you but they couldn't care less about your coins. What would you do? KEEP IT or SELL IT

Is your coin dealer a guy named John who works at DLRC?

Zoins

@drei3ree said:
I'm leaning toward the "keep it." I look at and enjoy my better coins a couple of times a month and would probably regret selling...

If it's a coin you look at a couple times a month, is irreplaceable, and you don't need the money, I would definitely keep it. The money isn't life changing, but missing a coin you enjoy every month could be a life changing experience.

BAJJERFAN

@jdimmick said:
sell it:

I always hated selling my core stuff or stuff I like, but have come to the conclusion in recent years, "theres no better time to sell than when you have an eager buyer, whether you could use the funds or not"

In my case I could use the funds for something!

Much wisdom here.

jmski52

It's just a coin.

Paradisefound

Sell it and come to Hawaii for a gateway

lkeigwin

Sell.
Lance.

mannie gray

Sell.
It's just stuff.

cameonut2011

@drei3ree said:
It's a mid six figure coin and the offer is for triple the consensus value.

Unless I thought I could do better at some point in the near future (during my life time), I would sell it in a heart beat.

SmEagle1795

If you intend to sell your collection in an auction and lacking this coin would lower the caliber of your collection as a whole, I could see holding onto it.

I had a similar case happen and I took the money. Now, I'm wanting to re-acquire an example of the type and it's becoming challenging to find one (3 years waiting with none on the market).

I turned the cash into three exceptionally tough coins which elevated my collection as a whole but I do feel it's missing the piece I sold and I might need to buy another before I eventually sell, happily a long, long ways away still.

Admittedly, the "luster" of owning the type could end up wearing off a bit: I've already had one so the next one will not be quite as exciting (and, it might cost nearer to where I sold mine for, so, less of a deal and with more opportunity cost).

Just my $0.02!

topstuf

Okay... SELL IT! It will only haunt you for a few decades, but you can still picture it in your mind's eye and reminisce with a cigar and a beverage.
Whaddya need a purdy coin for?

SELL IT !!! :'(

Catbert

To ask the question is to answer it. Sell.

mapleman

Sell and use some to buy a bunch of AU. My preference would be AGB's.

topstuf

@Catbert said:
To ask the question is to answer it. Sell.

PRICE enters into it in my case. The other day I was thinking along same line when I asked myself....WHY?
What would removing a coin I enjoy looking at (top 5 or not) do to my lifestyle.

I don't care about heirs anymore. They have their "own thing" and don't need any coins of mine in their funeral bucket.
I'd just put it aside for a month or so and take another gander and see if anything has changed.

The OP statement that it wouldn't change his economic status makes it an easy consideration for me.

If he has a BETTER place to put the loot, ...well... then I'd sell it.

Edited to add (after re reading the OP)

It's also not likely to be offered for sale again (in the same condition) in your lifetime.

sooooooooooo..................

GotTheBug

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jonruns

You should keep it...it's one of your favorites and you don't need the money...if it's that desirable of a coin there will always be another buyer...

On the other hand I would sell it because I always need the money LOL

• Jon

airplanenut

I think this is a tough question (based on the replies) because the amount of money you're talking about would change the lives of most people here. In light of what you've written, I say don't sell it. The posed scenario can be reworded this way: "You have the opportunity to sell a rare coin to someone who is willing to pay a significant premium because he can't find another one. Selling now may maximize the return you can ever receive for the coin, but will have no other financial effect on your life."

In that case, keep it. If you enjoy the coin as much as you say, then that joy should bring you more benefit than the additional funds that won't bring you an appreciable benefit.

I'm not near retirement, and that kind of money would have a huge effect on my life, so I'll modify the scenario a bit to be more realistic. I have a few coins that are special for what they are. One in particular has garnered me offers that would represent a huge profit and is likely well above what the coin would sell for at auction. While the money would be nice, it wouldn't have much overall effect on my life; if I really needed the funds, I could sell some other things I don't like as much or otherwise free up the capital. If I sold the coin, it would be very tough to replace. Thus the coin remains with me. There's a value to the joy the coin brings me, and that joy is certainly worth more than an amount of money I wouldn't even notice in a few months.

vplite

Discussions of a "mid six figure" coin is so massively out of the price range of any coin I own the question is as irrelevant as my answer would be.

divecchia

I think @airplanenut put it best. Read what he wrote as I could not say it any better. In my mind if there is no important or life changing gain, why sell? I would keep it, but that's coming from a collector and hobbyist that does not do this for any financial gain. For me this hobby is only for the pure enjoyment of it and nothing else.

Good luck deciding, but I hope you keep it if it brings you joy like my coins do to me.

Donato

amwldcoin

So! @drei3ree What's the verdict? Do we get to see the coin in question?

EastonCollection

Quite frankly, I would keep it unless I decided to use the proceeds to fund a family trip. The trip needs to be special and worthy of selling it. One time, I sold a coin that I regretted selling but it paid for a family trip that was a once in a lifetime trip. Any regrets were offset with a huge smile as it brought back great memories.

jedm

@ReadyFireAim said:
I'd lick it, stick it to my forehead and run around the house singing Na-nana-naa-nah in the nude.

Then sing Nananana nananana HEY HEY HEY GOODBYE,,,, AND SELL IT!!

ARCO

This should be the easiest dilemna in the history of humankind - you sell it. A buyer for a six figure coin is like a unicorn, they are mythical.

Coinscratch

Okay I slept on it And came to my senses. But still can't decide what I would do in your scenario.
3 times the value at even at $50.00 is a no brainer so sell is the obvious answer. Nananana

davewesen

If you plan to help your kids when you die, you should do some now if it is not going to impact your life

oldabeintx

Sold my MS Lincoln set and used the proceeds to fund a very nice trip to Hawaii for the family. Didn't need to sell, but hadn't spent a lot of time with the coins once the set was completed. Traded some things for memories of a lifetime for all concerned. No comparison. People>things.