Achieved a collection milestone 😆 Traded for a double eagle 🦅

markelman1125

When to to the New Hampshire coin expo in Manchester . I traded coins for $20 chuck of gold!!!!!! Got some extra change back from the exchange 👍

jclovescoins

Cool piece of gold and ancient coin. Seems like you traded too much though for a common double eagle

Catbert

Double eagles are masterpieces of US coin design. Enjoy!

markelman1125

@jclovescoins said:
Cool piece of gold and ancient coin. Seems like you traded too much though for a common double eagle

All I traded was all common dates 👍 though I do understand, it was a lot of coins.

Downtown1974

Congratulations on acquiring your first Saint, Mark! They certainly are impressive coins. Beautiful design and they feel good in the hand....they have substance. Nice hefty chunks of gold.

SeattleSlammer

@markelman1125 said:
I traded 2 half eagles, one eagle, a quarter eagle, a Morgan and a proof Indian penny to get this $20 chuck of gold!!!!!!

Wait a sec .... you sure you didn’t get hosed?

abcde12345

Unless your gold traded were jewelry quality I think you traded too much. (What was the grade on the Proof Indian cent and the Morgan dollar?)
Yet, as long as you're happy with the trade, all is good.

coinbuf

Nice that your happy but it does seem that you came out on the short end of the deal value wise.

oih82w8

As long as you are happy with the trade...nice Saint.

ThreeCentSilverFL

Athena holding Nike? Always Nice.

markelman1125

@coinbuf said:
Nice that your happy but it does seem that you came out on the short end of the deal value wise.

True, I did lose a little but I think with gold on the rise and the fact this is a dream coin I, think it’s worth it 👍.
Plus some of the gold I traded in, I bought a few years back when they were a few hundred dollars less expensive👍.

markelman1125

@abcde12345 said:
Unless your gold traded were jewelry quality I think you traded too much. (What was the grade on the Proof Indian cent and the Morgan dollar?)
Yet, as long as you're happy with the trade, all is good.

The Morgan was a Ms 64 1878 s and the proof was a 1888 64 proof BN. I forgot to mention I got some cash back in the process from the trade. Also I did buy the gold I traded in a while ago when they were a few hundred dollars cheaper. Plus even if I lost a little I got a coin I always dreamed of 👍.

markelman1125

@SeattleSlammer said:

@markelman1125 said:
I traded 2 half eagles, one eagle, a quarter eagle, a Morgan and a proof Indian penny to get this $20 chuck of gold!!!!!!

Wait a sec .... you sure you didn’t get hosed?

Nope, all coins were common dates. And most of the gold was gold I bought a while back when they were a few hundred dollars cheaper. Plus even if I lost a little on the trade in I got a dream coin and that makes me happy 👍

SeattleSlammer

Glad you’re happy and they’re nice newps. ⭐️⭐️

kaz

Nice looking Saint, looks choice for the grade. Lots of interesting details on the ancient coin. Glad you are pleased with your trades.

david3142

Yes, Saints are beautiful coins and it is a treasure to own one, especially at such a young age. That said, you should try to make good financial decisions since opportunity is not an issue for acquiring one. First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment. You traded roughly 1.125 ounces of gold plus other stuff for one ounce of gold (and other stuff). Also, the premiums on the smaller denominations are generally a bit larger than on double eagles, which are available close to melt all day every day. If you think gold is on the rise, you will be worse off with what you now have. Also, the sticker on that $20 seems to say $2495, which is absurdly high.

MFeld

@david3142 said:
Yes, Saints are beautiful coins and it is a treasure to own one, especially at such a young age. That said, you should try to make good financial decisions since opportunity is not an issue for acquiring one. First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment. You traded roughly 1.25 ounces of gold plus other stuff for one ounce of gold (and other stuff). Also, the premiums on the smaller denominations are generally a bit larger than on double eagles, which are available close to melt all day every day. If you think gold is on the rise, you will be worse off with what you now have. Also, the sticker on that $20 seems to say $2495, which is absurdly high.

I think the above was spot-on and bears repeating.

vplite99

I'm pretty sure this is a joke.

I mean how can that 23-D be only a 62?

markelman1125

@david3142 said:
Yes, Saints are beautiful coins and it is a treasure to own one, especially at such a young age. That said, you should try to make good financial decisions since opportunity is not an issue for acquiring one. First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment. You traded roughly 1.125 ounces of gold plus other stuff for one ounce of gold (and other stuff). Also, the premiums on the smaller denominations are generally a bit larger than on double eagles, which are available close to melt all day every day. If you think gold is on the rise, you will be worse off with what you now have. Also, the sticker on that $20 seems to say $2495, which is absurdly high.

Yea your right, I did end up with minus 4.18 grams of gold. At the same time I am absolutely thrilled with my purchase 👍. Thanks for your honesty, again I am over the moon with having a double eagle but maybe next time I trade I will be wise.

ChangeInHistory

Nice new additions.

koynekwest

What counts is if you're happy. You seem to be happy! Good deal, then.

ricko

That is a beautiful gold coin.... You are justifiably proud of it. Trades can be interesting... and the best trades are when both parties are happy.... Seems like this is one. Cheers, RickO

spacehayduke

@markelman1125 said:

@david3142 said:
Yes, Saints are beautiful coins and it is a treasure to own one, especially at such a young age. That said, you should try to make good financial decisions since opportunity is not an issue for acquiring one. First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment. You traded roughly 1.125 ounces of gold plus other stuff for one ounce of gold (and other stuff). Also, the premiums on the smaller denominations are generally a bit larger than on double eagles, which are available close to melt all day every day. If you think gold is on the rise, you will be worse off with what you now have. Also, the sticker on that $20 seems to say $2495, which is absurdly high.

Yea your right, I did end up with minus 4.18 grams of gold. At the same time I am absolutely thrilled with my purchase 👍. Thanks for your honesty, again I am over the moon with having a double eagle but maybe next time I trade I will be wise.

IMO, when one collects, sometimes one has to make decisions where the dealer may benefit slightly more than the collector in terms of monetary exchange. The dealer is making a living after all. Your trade IMO was fair on both sides, it is ok that the dealer gained some, key for you, the collector, is that you got a coin you really enjoy. Forget the price of gold, forget the small difference and the criticism above, enjoy your gorgeous double eagle!

If I did not greatly benefit the dealers I work with, I would have no great coins. It is called the cost of collecting.

Best, SH

erwindoc

Looks better than a 62!

markelman1125

@erwindoc said:
Looks better than a 62!

The dealer, Northeast Numismatics said the eye appeal is what raises the premium on this coin, I love it’s luster 👍

Kliao

Congrats on getting your dream coin!

DNADave

That’s a great looking tetradrachm!

JBN

"First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment."
This does not consider the value of ownership. It is more of an investment posture. A collector would have a different outlook, as is shown by the OP here.

SimpleCollector

Very nice gold coin, as people always say, beware, gold is addicting.

david3142

@JBN said:
"First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment."
This does not consider the value of ownership. It is more of an investment posture. A collector would have a different outlook, as is shown by the OP here.

I’m not sure what you mean. How do you value the ownership of coins that you are trading vs. the one you are about to acquire? Also, it doesn’t change the financial aspect of fair market value — there are millions of similar coins available at any time. There was no need to overpay here. The point of my comment was that justifying losing money on the sale because the collector is already up on the value of the existing coins is faulty logic (similar to the sunk cost fallacy).

SurfinxHI

Did you get those from long Island silver? Just curious

valente151

Enjoy the coin. You over paid (under-traded?), but take it as a learning opportunity. You paid some "tuition" but also paid for the enjoyment you are getting. I spent a lot more than you overpaid on a pair of Hamilton tickets, for a night of entertainment. You are obviously getting more than a couple hours of enjoyment over your purchase, enjoy it, learn from it, and you have come out ahead in the trade.

markelman1125

@SurfinxHI said:
Did you get those from long Island silver? Just curious

Is that a dealer?
If your asking about the dealer I got it from Northeast Numismatics.

SurfinxHI

@markelman1125 said:

@SurfinxHI said:
Did you get those from long Island silver? Just curious

Is that a dealer?
If your asking about the dealer I got it from Northeast Numismatics.

Yup, that’s what I was asking. Got it! Thx for your reply!

spacehayduke

@david3142 said:

@JBN said:
"First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment."
This does not consider the value of ownership. It is more of an investment posture. A collector would have a different outlook, as is shown by the OP here.

I’m not sure what you mean. How do you value the ownership of coins that you are trading vs. the one you are about to acquire? Also, it doesn’t change the financial aspect of fair market value — there are millions of similar coins available at any time. There was no need to overpay here. The point of my comment was that justifying losing money on the sale because the collector is already up on the value of the existing coins is faulty logic (similar to the sunk cost fallacy).

I don't think you understand that there is a cost to collecting, it is not about making a profit every time, or even breaking even in terms of $. What you gain is joy, what is that worth???

Best, SH

david3142

@spacehayduke said:

@david3142 said:

@JBN said:
"First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment."
This does not consider the value of ownership. It is more of an investment posture. A collector would have a different outlook, as is shown by the OP here.

I’m not sure what you mean. How do you value the ownership of coins that you are trading vs. the one you are about to acquire? Also, it doesn’t change the financial aspect of fair market value — there are millions of similar coins available at any time. There was no need to overpay here. The point of my comment was that justifying losing money on the sale because the collector is already up on the value of the existing coins is faulty logic (similar to the sunk cost fallacy).

I don't think you understand that there is a cost to collecting, it is not about making a profit every time, or even breaking even in terms of $. What you gain is joy, what is that worth???

Best, SH

Of course I understand it. But not every coin justifies a stretch price. Would you pay $2495 for a common 62 Saint? Wouldn’t you recommend that someone be more careful in the future?

markelman1125

@spacehayduke said:

@david3142 said:

@JBN said:
"First, it doesn’t matter what you paid for the coins, all that matters is what they are worth that moment."
This does not consider the value of ownership. It is more of an investment posture. A collector would have a different outlook, as is shown by the OP here.

I’m not sure what you mean. How do you value the ownership of coins that you are trading vs. the one you are about to acquire? Also, it doesn’t change the financial aspect of fair market value — there are millions of similar coins available at any time. There was no need to overpay here. The point of my comment was that justifying losing money on the sale because the collector is already up on the value of the existing coins is faulty logic (similar to the sunk cost fallacy).

I don't think you understand that there is a cost to collecting, it is not about making a profit every time, or even breaking even in terms of $. What you gain is joy, what is that worth???

Best, SH

Yes it’s joy 👍. If I were investing I would have simply traded for gold bullion. But this coin caught my eye out of all others despite the price and that’s why I traded my other gold coins.

skier07

Congrats but I don’t think I would trade or buy a 62 Saint when a 64 is roughly the same price.

markelman1125

@skier07 said:
Congrats but I don’t think I would trade or buy a 62 Saint when a 64 is roughly the same price.

It depends, they eye appeal was really nice, it’s not the grade/ holder, but the coin itself.
The photo dose not do justice.

ReadyFireAim

Yep...That's how it starts

Looks pretty good for a 62

PerryHall

While the 1923-D Saint is considered a common date, they're far scarcer than many other common dates such as the 1908 NM and the 1924 Saints. The 1923-D Saints are great type coins since they usually come well struck with great luster.

Catbert

@PerryHall Wow. 39,000 posts!

PerryHall

@Catbert said:
@PerryHall Wow. 39,000 posts!

Thanks but I'll never catch up with my good friend ricko.

CoinHoarder

I do not have an opinion if the OP overpaid or not.

But instead of doing a trade, with the dealer making his profit, maybe you could sell what you were going to trade, and pay cash for the coin.

ShaunBC5

@markelman1125 I think you did a good job trading a few coins you already had and didn't like as much (I'm assuming this because you took them to the show) for a coin you've always wanted, plus a cool ancient and a little cash. People on this forum pay up for eye appeal all the time and don't catch any grief over it.
For me, it would be much easier to trade for a coin of that value than to save and spend the cash.
Sometimes you've got to strike while the iron's hot and you did that by using what you had to acquire what you wanted.

asheland

Congrats on your Saint!

astrorat

Congrats on your trade. Glad to hear you are happy.

messydesk

If the tetradrachm was part of the trade, then you did OK (not great, but OK). If not, then you should have been able to keep the $2 1/2, and will look back on this as a tuition paying experience. The Saint is nice, but not $2495 nice, and at the end of the day, this was still mostly a bullion swap.

daltex

I think it depends on how much the cashout was to the OP.

logger7

I hope you enjoy the coin.

However I never came out even trading with seasoned dealers, by comparison I am a piker, a chump. One reason I don't do shows anymore because many of these pros do their sharp trading every day and rarely come up short.

Mizzou

If I really liked the coin or anything else for that matter, I would have no problem "trading" items that were worth more than the item I wanted in order to get it. Come to think of it, I do it quite often.

Over paying with cash is a different animal.