Too much usually, given the transaction costs, "Way too much" no, other than as a percentage above probable FMV for inexpensive but rare exonumia - items that may not come along again. With a bigger budget I mighty pay " way too much" for rare and expensive items that seldom appear. GOT- TO- HAVE- IT- itis. Part of the madness.
Yes, I don't buy for value most of the times. I purchase coins that are problem free and eye-appealing. I also try to find ones with a story or that are unique in some way. It all adds up to a higher cost.
I've sold some and taken a loss along the way too but never regretted selling ones I'm no longer interested in to free up cash.
Don't tell me that you're one of those who truly believe that if you bought gold at $300 per ounce or Google at the IPO price you haven't made money because you haven't sold it yet. That's like saying that someone who bought (the now bankrupt) Sears at $40 per share is just fine if he still has the certificates because it might come back. I think most of us understand the concept of unrealized gains and losses.
Not for coins, but I have for watches. Just ask my wife.
You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
Yes, many times. Of course part of the trouble is that I bought the items circa 2011, and the market as dropped like a stone. This is for what is supposed to be "good stuff" like early gold. A 1795 eagle and an 1808 quarter eagle come immedately to mind.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
I guess I've got all the bases covered... I've paid too much up front knowing I've paid a premium for eye appeal or rarity, and I've also come to the realization that I paid too much when I went to sell certain coins...
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
@BillJones said:
Yes, many times. Of course part of the trouble is that I bought the items circa 2011, and the market as dropped like a stone. This is for what is supposed to be "good stuff" like early gold. A 1795 eagle and an 1808 quarter eagle come immedately to mind.
I recently had an senior citizen come to me with a collection of 6 BU and 1 slider Walking Liberty $1/2s, common dates. Her dying friend had bought them in October 1988 for $1150. And that was probably not unreasonable at the time for "Gem BU" Walkers. Today? 30 YEARS LATER. It's not even worth the slabbing fees to get them certified as actually Gem BU.
@ErrorsOnCoins said:
OCD kicked in an I just had to buy ( a few minutes ago) a 4th expensive Avet fishing reel in a month ...
at least it is green ....
How many arms do you have?
Probably two like most of us.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@ErrorsOnCoins said:
OCD kicked in an I just had to buy ( a few minutes ago) a 4th expensive Avet fishing reel in a month ...
at least it is green ....
How many arms do you have?
Four different sized reels for different applications.
I kayaked fished for seven hours two days ago on the open Pacific Ocean with 4 rods and reels.
One sabiki rod for catching live bait, One flyine rod for trolling that live bait, One rod with a jig on it to throw and crashing yellowtail, and one Carolina rig to drop down live bait deeper than the flyline.
I bought a beautifully toned, common date three cent silver, for 10k. I was warned by the dealer that this was a "niche" coin and I was essentially buried in it. I wanted the coin. I had more money than sense at the time. A few months later some colorful and high grade 3 centers came up in auction and went for "moon" money. As I sat in the auction room and the prices kept jumping up the dealer leaned over to me and said "Ill give you $11k for that coin right now" . I sold it.
@rwheel said:
I bought a beautifully toned, common date three cent silver, for 10k. I was warned by the dealer that this was a "niche" coin and I was essentially buried in it. I wanted the coin. I had more money than sense at the time. A few months later some colorful and high grade 3 centers came up in auction and went for "moon" money. As I sat in the auction room and the prices kept jumping up the dealer leaned over to me and said "Ill give you $11k for that coin right now" . I sold it.
Yes, if you are not into the coin any more and somebody offers you a strong price, take it. '
I can't think of a common date Silver Three Cent Piece that is worth $10k. Of course I'm not a color collector so that limits my thought process.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Comments
Too much usually, given the transaction costs, "Way too much" no, other than as a percentage above probable FMV for inexpensive but rare exonumia - items that may not come along again. With a bigger budget I mighty pay " way too much" for rare and expensive items that seldom appear. GOT- TO- HAVE- IT- itis. Part of the madness.
OCD kicked in an I just had to buy ( a few minutes ago) a 4th expensive Avet fishing reel in a month ...
at least it is green ....
Yes, I don't buy for value most of the times. I purchase coins that are problem free and eye-appealing. I also try to find ones with a story or that are unique in some way. It all adds up to a higher cost.
I've sold some and taken a loss along the way too but never regretted selling ones I'm no longer interested in to free up cash.
You will.
It's just a matter of time.
Don't tell me that you're one of those who truly believe that if you bought gold at $300 per ounce or Google at the IPO price you haven't made money because you haven't sold it yet. That's like saying that someone who bought (the now bankrupt) Sears at $40 per share is just fine if he still has the certificates because it might come back. I think most of us understand the concept of unrealized gains and losses.
Not for coins, but I have for watches. Just ask my wife.
Yes, many times. Of course part of the trouble is that I bought the items circa 2011, and the market as dropped like a stone. This is for what is supposed to be "good stuff" like early gold. A 1795 eagle and an 1808 quarter eagle come immedately to mind.
I guess I've got all the bases covered... I've paid too much up front knowing I've paid a premium for eye appeal or rarity, and I've also come to the realization that I paid too much when I went to sell certain coins...
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.
How many arms do you have?
I recently had an senior citizen come to me with a collection of 6 BU and 1 slider Walking Liberty $1/2s, common dates. Her dying friend had bought them in October 1988 for $1150. And that was probably not unreasonable at the time for "Gem BU" Walkers. Today? 30 YEARS LATER. It's not even worth the slabbing fees to get them certified as actually Gem BU.
Probably two like most of us.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I’m in this coin pretty deep in my opinion, $725
But I don’t care, I really like the coin...
My YouTube Channel
Four different sized reels for different applications.
I kayaked fished for seven hours two days ago on the open Pacific Ocean with 4 rods and reels.
One sabiki rod for catching live bait, One flyine rod for trolling that live bait, One rod with a jig on it to throw and crashing yellowtail, and one Carolina rig to drop down live bait deeper than the flyline.
64 CAC bid is $725. So, you are buried in that coin at wholesale bid.
Are you sure? He likes errors.
Probably at the time...
Well, the premium has shrunk. Oh, and $559 in an S&P 500 fund (dividends reinvested) in 1997 would be worth over $2600 today.
I bought a beautifully toned, common date three cent silver, for 10k. I was warned by the dealer that this was a "niche" coin and I was essentially buried in it. I wanted the coin. I had more money than sense at the time. A few months later some colorful and high grade 3 centers came up in auction and went for "moon" money. As I sat in the auction room and the prices kept jumping up the dealer leaned over to me and said "Ill give you $11k for that coin right now" . I sold it.
Yes, if you are not into the coin any more and somebody offers you a strong price, take it. '
I can't think of a common date Silver Three Cent Piece that is worth $10k. Of course I'm not a color collector so that limits my thought process.
Absolutely. Some Teletrade buys (since sold) before 89 crash. They have yet to recover....
Well, since the coin finally shipped, I guess I can show a cropped photo of the seller's image.
More than likely, I paid more for a "W" cent than anyone on the planet