Ever pay way too much for a coin ?
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ctf_error_coins
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Yeah, typically when I buy from you...………….
Every friggin one. Sometimes ya gotta go for the gusto,
You do own some extremely nice unique eye appealing coins tho ...
As a dealer, I pay up for extremely nice rare stuff, my clients really appreciate it
hopefully not too often
BHNC #203
The thing is, the really nice stuff just costs more
'Did you ever lose money on a coin purchase?'
We just did this a couple of days ago...
Who, Me? Nah!
Paying way too much for a coin and losing money on a coin are 2 way different things .....
Me me me
I think they go together and aren’t that different. If you made money, you didn’t pay too much.
Of course, it may be fun to say you paid too much, like bragging rights, but if you made money, it’s not too much. Losing money is paying too much.
Yes... I have... back when I was doing the CC Morgan series.... looks like I am ok now though....if I were to sell...but I will not.
Cheers, RickO
Yes, virtually always. My only under-priced buys are "cherrypicks."
I do this all the time for coins/medals that I have been trying to find for many years.
Another question is, Did you ever offer way too little?
Yes, and it is sometimes very frustrating.
My US Mint Commemorative Medal Set
You don't make money until you sell.
Paying way too much for a uniquely rare coin is part of the game.
Elmo
Losing money is often part of the game too, both unrealized before you sell and realized when you sell. Some coins go up in value but the vast majority are going down, especially net gains / losses after transaction costs.
More people also tend to pay too much and lose money for common “rare” coins than truly rare coins with multiple levels of demand.
Isn't that what this hobby is all about ???
Ws
The only way to define "too much" is relative to value. If you don't lose money on a coin, it wasn't too much because at least one person was willing to pay more.
What is "too much" for a "uniquely rare coin"?
Especially in an auction, there's always an under bidder.
And if you want "unique" I've got a 2003 $1 bill in my wallet that is serial number D 39251476 C. It's a little ragged, but it is truly one of a kind.
Only once. Learned my lesson. Way to much to me is more than 1/3 over what I should have paid for a coin which is not scarce and not a possible shot coin re an upgrade.
"Seu cabra da peste,
"Sou Mangueira......."
Yes.
Yep, but it's a trivial story from my childhood. 50 years ago this week, I bought a 1950-D Jefferson nickel as a kid because I could never find one in circulation, and it was the last date I needed to complete my Jefferson collection. It was in uncirculated condition, and now I'll have to go find this coin and look it over closely to see what MS it would grade today.
Anyway, back in 1969 I paid $15.50 for it. It is doubtful I could get even that much for it today. The 1950-D was riding a high wave of popularity back then, and many people hoarded them even in MS so they are plentiful to this day.
Hang on to them til they .... TONE !
Bite your TONGUE, evil philistine. The hobby is about PROFIT
Yes, Paid too much a few times. Live and learn.
As i see it, no one bats 1000.
Ill ask the follow up.
Have you ever sold a coin for too little?
Speaking from my experience, this is WAY more painful than overpaying!!!
Dang I just today paid way too much for a fishing reel and fishing pole .... $800
Third new reel in and second fishing pole in a month.
Si,
Sample Dimes...
POST NUBILA PHOEBUS / AFTER CLOUDS, SUN
Love for Music / Collector of Dreck
Ever Pay to much for a coin? NO!!!!!!
Have I ever told a Lie in my Whole Life? Absolutely Positively NO!
Stepped up and paid up sound so much better than paid too much.
Yes, have paid too much now and then but over the last 25 years have come out way ahead.
I think there is a distinction between paying way too much and paying a big premium for an exceptional example. I’ve done both.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
when I first started colleting I did. paid 275 for a pcgs MS-64 1885-CC Morgan which was retail at the time. ended up being a good purchase over time though
I am also OK waiting for some of my modern silvers to appreciate while we both tone, but it is those pesky white spots that might show up, that I really worry about, especially on modern's I way over paid for. 1995-W eagle PR70. LOL, or more accurately with tears, COL.
Never fully understood why undesirable white spots seem to be almost all a modern coin problem. I don't see spots on most good old medals. I also like the look of 1800's medals, it is like the silver or something in the alloy was just different and better.
I know 100 year old cast iron cooks best without sticking, too, from years of experience. Too bad my best sets are modern..
My US Mint Commemorative Medal Set
I've bought a few coins at auction with outstanding toning where I just said to myself "self, you're going to win that coin at any cost". I've never regretted those choices.
i used to think that way until I sold many of my coins at auction. Now I realize that everything is a widget.
Sometimes you have to pay to much. It's what you've got, not what you
don't have. Some times it's fun to have bragging rights.
Anybody buy Classic Commem's 10/20/ 30 years ago?
Thankfully no, but I have paid too much for other coins. Luckily the last one had a return policy!
More often than not
Everything I have bought from the US mint!
Since I play in the shallow end of the purchasing pool, I cannot say way too much. But if we are talking percentages, then definitely.
I don't mind paying a bit more since I mostly snatch up things that I probably wouldn't see again for 5-10 years or never.
Yes.
Yes, I've definitely paid too much.
The metric for me is, "spending this much makes an angry wife" then it is TOO MUCH!!!
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
Sadly, yes, numerous times.
Dave
Occasionally I do..
My YouTube Channel
Have I ever had buyer's remorse? Yes. Is it most generally a temporary feeling with me? Yes.
haha
Best place to buy !
Bronze Associate member
No
I’ve paid too much plenty of times. They typically are the ones I like best in my collection. I’ve “paid up” for the good ones. The tricky part for me, being a collector, is when it’s time to sell those ones in particular, I need to make sure there are good images and that they get good attention or I’ll be sunk...
I’ve just started getting my feet wet with imaging & have quickly realized nothing is as easy as you sometimes hope it will be.
& then, admittedly, there’s been times when I’ve overpaid because I want what I want & I want it now. As the years have gone by, a decade of experience has taught me a lot and impulse buys are fewer & further between...
Absolutely! It’s part of the learning process. Quality comes with a price....most of the time!
Totally!
Also, this thread is absolutely wasted without pictures! Here is one of my most over-priced "widgets", as another called it.
Definitely not "over-loved", though.
I call her Mama Smurf.
how do you decide what is "over paying"?
Well, my wife likes to remind me a lot that we are in the hobby of collecting money. Most people struggle collecting food for their families. So, perhaps it's all over spending. Who knows.
Regardless, this is the one my wife disliked me purchasing the most, however it passes the other two data points. It is, in fact, the only straight graded variety with a chop mark, and the non-chop marked coins are all of lesser condition. It is both a true rarity, and a condition rarity. -- and it is also considered the King of the Trade Dollar minor variety set.
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be