"To date, NEVER have I bid on a coin or purchased a coin that I did not intend on keeping."
I am a bit surprised. Learning to be a savvy collector, in my view, requires learning about how the business end of the hobby functions. At some point, your coins will likely be sold (perhaps by your heirs). When I think about buying something (coin, medal, token, book,..), I habitually ask myself what the likely outcome would be should I decide to turn around and try to sell it.
There have been times when I purchased coins/exonumia, knowing that there was a chance that I might not end up keeping them. One time I kept a coin all of two weeks, because I changed my mind about it (LOVED the toning, didn't care for the strike). Selling a coin is much harder than buying it in the first place, at least for me. I don't like to haggle, for starters, and there are different venues for selling (which make not work well for all the items in one's collection). However, I realize that occasional selling helps me to maintain an element of realism regarding what my collectibles are worth (not to me, but to others). I have assembled sets of U.S. and foreign coins, and later sold them (for more than I paid, sometimes fortuitously), reserved the money and then used it to start something else a bit later on. This is perhaps anathema to some collectors, who stay focused on a particular facet of the hobby, but it works for me.
Another reason to occasionally sell something: use these experiences as training exercises regarding your eye for quality (or distinctive features). It is one thing to have another collector/dealer inspect one of your coins and say it's nice, it's another to get him/her to like it enough to make a respectable offer to buy it.
Member: EAC, NBS, C4, CWTS, ANA
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
Wasn't trying to keep you guys in suspense: My kid had a performance today. Mandarin / Chinese New Year. Teacher had no idea it's super bowl Sunday
So here's the item:
Annam (Vietnam) Nguyen Dynasty 24 Lang Bar
19th Century (circa 1883)
AR 920 Grams
Ex. Opitz Collection
I posted it on the darkside and PM forms, but I don't think I posted about it here.
It was one of the items in the December 2019 HKINF World & Ancient Coin Signature Auction in Hong Kong, a collection which included around 50 similar items--Sycees and bars of every shape and form from several hundred years ago up until the early 20th century. The bulk of this auction was the Optiz collection. Charles Opitz was a collector and author who studied ethnologically interesting "money" from around the world and across time: key money, spade money, bullet money, cowrie shells, etc.
This bar and others of its type were used in trade on the Chinese and Vietnam border. Some claim for the opium trade, but I think that's romanticizing. It was probably just a larger currency work horse like $100 bills.
We take for granted knowing how big a dollar or quarter is, or for darkside material we're unfamiliar with, how big something is compared to the slab in which it's housed. But in this auction listings, none of these pieces were slabbed, none of them had any kind of comparison for scale. It was shown next to bars weighing as little as 1/30th its size--but you couldn't tell that from the images. They all looked about the same size. And from the images, it maybe wasn't as interesting as some of those smaller bars with more stamps or chops. HA's description was a little meh. Or it could very well be that the buyers at this sale just flat out had no interest in this piece. For whatever reason, I dropped in a bid at melt--and won.
When I got the notice I'd won it, I searched for and found a copy of Opitz's book "An Ethnographic Study of Traditional Money" from 2000. As the HA copy said, this piece is a plate piece from the book:
Finding these images led me to dig deeper, where I found another Opitz reference from a few years later with color images of this bar:
And one thing that I culled from reading Mr. Opitz' , er, Opus, was that in these two references and his accompanying valuation guide is that he specifically says these larger bars, ranging from 20 to 100 Lang, are all rare. You can see those references next to the bar images in both works.
As I've aged into PM stacking, and as I've gotten more serious about a "box of 20" approach to coin collecting, interesting bullion has become an out and a rationalization to continue collecting in a way that doesn't interfere with my box of 20. One of the bars that I've kind of been after for some time is a really nice, early kilo bar from JM or Engelhard. For those outside of the PM world--early, iconic bars have become very sought-after and can trade at multiples of their melt value. I'm talking about a bar like this, likely from the late 1960s or early 1970s:
A few weeks back, I was able to buy a nice, older kilo bar from another maker. While I was researching it, I came across a few of these early JM and Engelhard bars and that got me thinking: I got the Vietnamese bar, which is roughly a kilo, at a great price. What if I was able to convert it into one of these vintage JM or Engelhard bars and be out zero dollars for the transaction?
So I listed the bar at what I felt it was worth, based on my research and what other pieces had sold for at the HKINF auction. Moon money, but not entirely unrealistic given this bar's scarcity.
And I had offers. Which is why I asked you lot about my lot.
And a couple of hours ago, I declined the highest offer and took the bar off the market.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
@topstuf said:
Weiss is the Pied Piper of the forum.
Weiss tends to be anything but brief when he's talking about something he thinks is cool. Ask my wife.
But I was really having a hard time with this one and I was running out of time on the offer.
I think part of the problem is that the price I paid for the bar had a bigger psychological impact on me (thanks, @BillDugan1959 ) than my own research. How could it be as valuable or as good as the JM or Engelhard bar when I only paid melt for it? And I paid melt for it including the juice AND shipping!
Really appreciate the sounding board on this one, guys.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
@Weiss I was really not thinking of you specifically when I made the first statement about
"delusional behavior and beliefs".
But if you happen to embrace it, there is much help available in the friendly confines of Chambana and the Univerity of Illinois.
There are simply so many people on this forum (especially the Noobs) who believe in things that cannot EVER come to fruition in reality.
Coins is really a casino game. A few win, many lose. I'd suppose that I've been close to delusional myself, but then I get an extra base hit now and again to tighten things up a bit.
P.S. I'd like to have a "boat" style silver Sycee, but I'd bet 80% of what is on today's market is post-1949.
That's a really interesting story and a good description of how things still slip through the cracks even in the internet age. But now that you've made your score, I'd go for the Engelhard.
@BillDugan1959 said:
Yes, it is hype. Cost matters. And if you are using logic, how many 55 double dies were found in rolls or in circulation as late as 1970? How many persons who obtained any 55 double die before 1970 still have them?
Cost matters very much and it is sheer dealer hype to throw a potential/possible customer off that vital fact.
@MrEureka said:
Cost is irrelevant. Just ask yourself if you would rather be a buyer or a seller at the offered price.
Is this a humorous example of dealer hype?
I'm sure it's not hype. If you found a 55DD Lincoln in a roll 50 years ago, is your cost relevant wen it comes to considering a sale?
I guess I need to clarify my point for those who did not read my comment in the context of the thread. Yes, cost does matter when you’re buying. But aside from the tax ramifications, cost shouldn’t matter in the least when it comes time to consider selling.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
My choice would have been to keep it as well @Weiss . I like the history, look and rarity of the Vietnam piece a lot. For rare items, research is needed and sometimes you can get it for a steal. Acquisition price shouldn't necessarily factor into whether you keep a piece since sometimes you can cherry pick a piece and sometimes you are just plain lucky!
You got it for a song. You must like it or you wouldn't be hesitating to sell it. Keep it. Enjoy it. That's what you really want to do. Why flip it?..........You don't need the money.
I am curious. What makes contemporary (in my eyes) silver bars more valuable than stacks of ASEs or other silver rounds? That Vietnamese bar, to me, is the centerpiece of that collection of bars, rather than the odd man out.
Member: EAC, NBS, C4, CWTS, ANA
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
Bought at melt and offered 85% of moon money, I'd keep it especially since you now have as good as the documentation can possibly get. I was ready to tell you to sell it until I read the entire thread. You can sell the bar anytime you want. If you're into bars, it's a keeper - hands down.
Good job, Weiss. Good post.
Q: Are You Printing Money? Bernanke: Not Literally
If you like the item....if it holds your interest....The history, the appearance, the scarcity.... Then keep it.... If you lose interest and move on to other areas, then sell. Good choice to keep it.....Cheers, RickO
@Weiss said:
But isn't there some value to the story itself? "Would you believe I only paid X for this?"
Of course, the opposite is also true: "Would you believe I essentially got this for free, because I sold X and bought this with the proceeds".
There is more value in the second story, where you realized Obscene Profit™. The story to avoid is, "I got this coin for what was once a song and blew an opportunity to cash in for Obscene Profit™ before the market softened."
@Sonorandesertrat said:
I am curious. What makes contemporary (in my eyes) silver bars more valuable than stacks of ASEs or other silver rounds? That Vietnamese bar, to me, is the centerpiece of that collection of bars, rather than the odd man out.
Bars...(those less than 100oz).... sell PRONTO out of a showcase. FAST !!!
Weiss, what does the reference to 'bride price' mean? Was it a standardized sum for a dowry in that era?
That seems to be a reference to the bars of exactly 10 Lạng. Bride Price is where something of value is given to the bride's family for her hand in marriage, as opposed to a dowry, where something of value is given to the groom's family for taking the bride.
As to what the standard sum was: Remember these bars were money. It seems they likely had a ceremonial or traditional component vs. coins or whatever other standard of trade was being used. But silver was money and money, for the most part, was silver.
Per Wikipedia, a lạng was approximately 37.8 grams. So in answer to your question: if Opitz was correct, the expected amount paid to the family of a bride for her hand in marriage was a 10 lạng bar of pure silver--roughly 378 grams or 12.15 troy ounces of pure silver.
Further extrapolation is probably unnecessary. But from a 21st century coin collector's perspective (and if my math is correct): That amount of silver would have translated into just shy of 16 Morgan silver dollars or, probably more accurately, 19 1/2 Mexican 8 reale coins.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
@Crypto said: @TDN says a lot of smart stuff but my fav is the best time to sell something is when you have a buyer
Agree. This is especially true for esoteric thinly traded collectables.
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
@Sonorandesertrat said:
I am curious. What makes contemporary (in my eyes) silver bars more valuable than stacks of ASEs or other silver rounds? That Vietnamese bar, to me, is the centerpiece of that collection of bars, rather than the odd man out.
I like the way you put it that the Vietnamese bar is the centerpiece of the collection. It's a rare, historic bar.
@Sonorandesertrat said:
"To date, NEVER have I bid on a coin or purchased a coin that I did not intend on keeping."
I am a bit surprised. Learning to be a savvy collector, in my view, requires learning about how the business end of the hobby functions.
I find this very relevant. In coins and in my other hobby, I'm constantly trying to learn about material outside my wheelhouse so that when opportunities come up I can take advantage - maybe keep a cool piece I wasn't focused on, or be able to make some money selling to help fund my main collection. My other hobby has essentially paid for itself through this practice.
Being focused on a certain collection doesn't mean you should ignore such opportunities.
@Weiss I truly appreciate you making this post. It is both entertaining and instructive to have a look inside the thought processes of other collectors.
Edit to add: Based on that one group photo alone, it looks like you have a world-class bullion collection. Congratulations!
Quick follow-up: HA's weekly darkside auction just happened to have a companion piece to the one I'd posted about. It's a 10 Lang bar, so less than half the size. But slightly earlier, with really pretty markings top and bottom. Another Opitz piece, and this one is actually the one pictured below on the same page of Opitz's book that mine is shown on.
Thought it would be neat to have both pieces shown on the same page.
HA's estimate was $200-$300. I figured I'd gotten a bargain on the first one so I could shove a little more toward this one. Threw a $400 bid at it--about twice melt (recall I'd gotten my bar for melt including BP and shipping).
I was winning the bar when I was outbid on another item I'd bid on at the same auction (the lot of Tiger Tongues). So I tossed some of that money at this bar (up to about $800 total) just to be sure I'd get it.
This afternoon I was outbid. I thought it over but couldn't bring myself to go any higher. So my powder remained dry.
Checked it just now, and it closed at $1200. Congrats to the winner, hopefully someone on the forums who saw this thread and took a liking to these unusual pieces of trade.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
@Crypto said: @TDN says a lot of smart stuff but my fav is the best time to sell something is when you have a buyer
I was going to post this exact same comment but you beat me to it. I first heard this from Tony Terranova and I think it is one of the most valuable pieces of advice I've received.
@Crypto said: @TDN says a lot of smart stuff but my fav is the best time to sell something is when you have a buyer
I was going to post this exact same comment but you beat me to it. I first heard this from Tony Terranova and I think it is one of the most valuable pieces of advice I've received.
It's very easy to fall into the trap of hesitating on a sale when someone wants to buy. You start to wonder: Am I selling too cheap? Is it better than I was thinking? Multiple times when I've agreed to sell an item for moon money (and executed), I've still felt an emotional hesitation (greed?) suggesting that maybe I shouldn't sell or maybe I could get more...
Comments
"To date, NEVER have I bid on a coin or purchased a coin that I did not intend on keeping."
I am a bit surprised. Learning to be a savvy collector, in my view, requires learning about how the business end of the hobby functions. At some point, your coins will likely be sold (perhaps by your heirs). When I think about buying something (coin, medal, token, book,..), I habitually ask myself what the likely outcome would be should I decide to turn around and try to sell it.
There have been times when I purchased coins/exonumia, knowing that there was a chance that I might not end up keeping them. One time I kept a coin all of two weeks, because I changed my mind about it (LOVED the toning, didn't care for the strike). Selling a coin is much harder than buying it in the first place, at least for me. I don't like to haggle, for starters, and there are different venues for selling (which make not work well for all the items in one's collection). However, I realize that occasional selling helps me to maintain an element of realism regarding what my collectibles are worth (not to me, but to others). I have assembled sets of U.S. and foreign coins, and later sold them (for more than I paid, sometimes fortuitously), reserved the money and then used it to start something else a bit later on. This is perhaps anathema to some collectors, who stay focused on a particular facet of the hobby, but it works for me.
Another reason to occasionally sell something: use these experiences as training exercises regarding your eye for quality (or distinctive features). It is one thing to have another collector/dealer inspect one of your coins and say it's nice, it's another to get him/her to like it enough to make a respectable offer to buy it.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Wasn't trying to keep you guys in suspense: My kid had a performance today. Mandarin / Chinese New Year. Teacher had no idea it's super bowl Sunday
So here's the item:
Annam (Vietnam) Nguyen Dynasty 24 Lang Bar
19th Century (circa 1883)
AR 920 Grams
Ex. Opitz Collection
I posted it on the darkside and PM forms, but I don't think I posted about it here.
It was one of the items in the December 2019 HKINF World & Ancient Coin Signature Auction in Hong Kong, a collection which included around 50 similar items--Sycees and bars of every shape and form from several hundred years ago up until the early 20th century. The bulk of this auction was the Optiz collection. Charles Opitz was a collector and author who studied ethnologically interesting "money" from around the world and across time: key money, spade money, bullet money, cowrie shells, etc.
This bar and others of its type were used in trade on the Chinese and Vietnam border. Some claim for the opium trade, but I think that's romanticizing. It was probably just a larger currency work horse like $100 bills.
We take for granted knowing how big a dollar or quarter is, or for darkside material we're unfamiliar with, how big something is compared to the slab in which it's housed. But in this auction listings, none of these pieces were slabbed, none of them had any kind of comparison for scale. It was shown next to bars weighing as little as 1/30th its size--but you couldn't tell that from the images. They all looked about the same size. And from the images, it maybe wasn't as interesting as some of those smaller bars with more stamps or chops. HA's description was a little meh. Or it could very well be that the buyers at this sale just flat out had no interest in this piece. For whatever reason, I dropped in a bid at melt--and won.
When I got the notice I'd won it, I searched for and found a copy of Opitz's book "An Ethnographic Study of Traditional Money" from 2000. As the HA copy said, this piece is a plate piece from the book:
Finding these images led me to dig deeper, where I found another Opitz reference from a few years later with color images of this bar:
And one thing that I culled from reading Mr. Opitz' , er, Opus, was that in these two references and his accompanying valuation guide is that he specifically says these larger bars, ranging from 20 to 100 Lang, are all rare. You can see those references next to the bar images in both works.
As I've aged into PM stacking, and as I've gotten more serious about a "box of 20" approach to coin collecting, interesting bullion has become an out and a rationalization to continue collecting in a way that doesn't interfere with my box of 20. One of the bars that I've kind of been after for some time is a really nice, early kilo bar from JM or Engelhard. For those outside of the PM world--early, iconic bars have become very sought-after and can trade at multiples of their melt value. I'm talking about a bar like this, likely from the late 1960s or early 1970s:
A few weeks back, I was able to buy a nice, older kilo bar from another maker. While I was researching it, I came across a few of these early JM and Engelhard bars and that got me thinking: I got the Vietnamese bar, which is roughly a kilo, at a great price. What if I was able to convert it into one of these vintage JM or Engelhard bars and be out zero dollars for the transaction?
So I listed the bar at what I felt it was worth, based on my research and what other pieces had sold for at the HKINF auction. Moon money, but not entirely unrealistic given this bar's scarcity.
And I had offers. Which is why I asked you lot about my lot.
And a couple of hours ago, I declined the highest offer and took the bar off the market.
--Severian the Lame
That Vietnamese bar is far more interesting--good choice.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Weiss is the Pied Piper of the forum.
Weiss tends to be anything but brief when he's talking about something he thinks is cool. Ask my wife.
But I was really having a hard time with this one and I was running out of time on the offer.
I think part of the problem is that the price I paid for the bar had a bigger psychological impact on me (thanks, @BillDugan1959 ) than my own research. How could it be as valuable or as good as the JM or Engelhard bar when I only paid melt for it? And I paid melt for it including the juice AND shipping!
Really appreciate the sounding board on this one, guys.
--Severian the Lame
@Weiss I was really not thinking of you specifically when I made the first statement about
"delusional behavior and beliefs".
But if you happen to embrace it, there is much help available in the friendly confines of Chambana and the Univerity of Illinois.
There are simply so many people on this forum (especially the Noobs) who believe in things that cannot EVER come to fruition in reality.
Coins is really a casino game. A few win, many lose. I'd suppose that I've been close to delusional myself, but then I get an extra base hit now and again to tighten things up a bit.
P.S. I'd like to have a "boat" style silver Sycee, but I'd bet 80% of what is on today's market is post-1949.
I remember that from the PM forum. I would have kept it too. Just a fascinating piece with terrific historical significance.
That's not the MONKEY CURSE bar is it?
That's a really interesting story and a good description of how things still slip through the cracks even in the internet age. But now that you've made your score, I'd go for the Engelhard.
I guess I need to clarify my point for those who did not read my comment in the context of the thread. Yes, cost does matter when you’re buying. But aside from the tax ramifications, cost shouldn’t matter in the least when it comes time to consider selling.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
My choice would have been to keep it as well @Weiss . I like the history, look and rarity of the Vietnam piece a lot. For rare items, research is needed and sometimes you can get it for a steal. Acquisition price shouldn't necessarily factor into whether you keep a piece since sometimes you can cherry pick a piece and sometimes you are just plain lucky!
No, you're right. They're not mutually exclusive.
--Severian the Lame
You got it for a song. You must like it or you wouldn't be hesitating to sell it. Keep it. Enjoy it. That's what you really want to do. Why flip it?..........You don't need the money.
Sell before you talk yourself out of it.
I am curious. What makes contemporary (in my eyes) silver bars more valuable than stacks of ASEs or other silver rounds? That Vietnamese bar, to me, is the centerpiece of that collection of bars, rather than the odd man out.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Bought at melt and offered 85% of moon money, I'd keep it especially since you now have as good as the documentation can possibly get. I was ready to tell you to sell it until I read the entire thread. You can sell the bar anytime you want. If you're into bars, it's a keeper - hands down.
Good job, Weiss. Good post.
I knew it would happen.
If you like the item....if it holds your interest....The history, the appearance, the scarcity.... Then keep it.... If you lose interest and move on to other areas, then sell. Good choice to keep it.....Cheers, RickO
Congrats on deciding to keep it. To me it looks like it could be the centerpiece of your collection.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
Based on what the OP said..................I'd sell it
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
There is more value in the second story, where you realized Obscene Profit™. The story to avoid is, "I got this coin for what was once a song and blew an opportunity to cash in for Obscene Profit™ before the market softened."
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I'd take the 85% offer.
My YouTube Channel
Bars...(those less than 100oz).... sell PRONTO out of a showcase. FAST !!!
Weiss, what does the reference to 'bride price' mean? Was it a standardized sum for a dowry in that era?
AKA Pakasmom
That seems to be a reference to the bars of exactly 10 Lạng. Bride Price is where something of value is given to the bride's family for her hand in marriage, as opposed to a dowry, where something of value is given to the groom's family for taking the bride.
As to what the standard sum was: Remember these bars were money. It seems they likely had a ceremonial or traditional component vs. coins or whatever other standard of trade was being used. But silver was money and money, for the most part, was silver.
Per Wikipedia, a lạng was approximately 37.8 grams. So in answer to your question: if Opitz was correct, the expected amount paid to the family of a bride for her hand in marriage was a 10 lạng bar of pure silver--roughly 378 grams or 12.15 troy ounces of pure silver.
Further extrapolation is probably unnecessary. But from a 21st century coin collector's perspective (and if my math is correct): That amount of silver would have translated into just shy of 16 Morgan silver dollars or, probably more accurately, 19 1/2 Mexican 8 reale coins.
--Severian the Lame
Personally, I'd sell it. I'm a collector only. ( 55 years ) and I pretty much stick to my core collection.
@TDN says a lot of smart stuff but my fav is the best time to sell something is when you have a buyer
11.5$ Southern Dollars, The little “Big Easy” set
Agree. This is especially true for esoteric thinly traded collectables.
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 like the way you put it that the Vietnamese bar is the centerpiece of the collection. It's a rare, historic bar.
Flipski!
Thank me.
I find this very relevant. In coins and in my other hobby, I'm constantly trying to learn about material outside my wheelhouse so that when opportunities come up I can take advantage - maybe keep a cool piece I wasn't focused on, or be able to make some money selling to help fund my main collection. My other hobby has essentially paid for itself through this practice.
Being focused on a certain collection doesn't mean you should ignore such opportunities.
People can keep whatever they can .......afford......to keep.
You made a great choice.
@Weiss I truly appreciate you making this post. It is both entertaining and instructive to have a look inside the thought processes of other collectors.
Edit to add: Based on that one group photo alone, it looks like you have a world-class bullion collection. Congratulations!
Quick follow-up: HA's weekly darkside auction just happened to have a companion piece to the one I'd posted about. It's a 10 Lang bar, so less than half the size. But slightly earlier, with really pretty markings top and bottom. Another Opitz piece, and this one is actually the one pictured below on the same page of Opitz's book that mine is shown on.
Thought it would be neat to have both pieces shown on the same page.
HA's estimate was $200-$300. I figured I'd gotten a bargain on the first one so I could shove a little more toward this one. Threw a $400 bid at it--about twice melt (recall I'd gotten my bar for melt including BP and shipping).
I was winning the bar when I was outbid on another item I'd bid on at the same auction (the lot of Tiger Tongues). So I tossed some of that money at this bar (up to about $800 total) just to be sure I'd get it.
This afternoon I was outbid. I thought it over but couldn't bring myself to go any higher. So my powder remained dry.
Checked it just now, and it closed at $1200. Congrats to the winner, hopefully someone on the forums who saw this thread and took a liking to these unusual pieces of trade.
--Severian the Lame
I was going to post this exact same comment but you beat me to it. I first heard this from Tony Terranova and I think it is one of the most valuable pieces of advice I've received.
Coin Rarities Online
It's very easy to fall into the trap of hesitating on a sale when someone wants to buy. You start to wonder: Am I selling too cheap? Is it better than I was thinking? Multiple times when I've agreed to sell an item for moon money (and executed), I've still felt an emotional hesitation (greed?) suggesting that maybe I shouldn't sell or maybe I could get more...