Post a coin you're buried in

braddick

This won't be a popular thread as it is difficult to discuss coins we may have made mistakes in purchasing. Well, here is a cathartic thread for that.

I paid much too much for this little "jewel" and will never recoup my expense. Oh well.
Sobeit!

joeykoins

Cool coin, dude! What's the grade?
I'll guess, a AG 03?

Mr_Spud

Probably buried with this one because it came back as “Questionable Color” when I submitted it

Sonorandesertrat

A big chunk of my collection, aside from large cents, fits this category. Example:

The coin is real, and the coloration exceptional (as far as Bechtler dollars go). The toning is almost certainly real, since this coin came out of an old-time collection. The price was exceptional too, as was the dealer's hype (so nice that he seriously thought about keeping for himself). Of course, he didn't want the coin back when I offered it to him (we didn't even discuss price, but he indicated that he remembered this coin)...

keyman64

I’ve only had one. I was a bidiot in a 2010 Auction where I paid almost $5k. Sold it for ~$3700 loss in 2015. It’s okay and I feel good about it because I learned and have more than made up for it with many other transactions. I’m actually happy that I sold it because it is ‘over’ and I do not have to dwell on it or look at it any more. It’s quite liberating.

Mr_Spud

This one too, because it came back as cleaned

Probably I could get my money back if I cracked them out and sold them as raw, but I have no plans to do so. I wouldn’t want the next person to find out if they end up submitting them.

This one too, it came back as “bent” with no grade.

But at least they all look great to me, so I’m not too worried and enjoy having them in my collection even though they were problem coins that I wasn’t aware that they had problems when I bought them for problem free prices

braddick

@joeykoins said:
Cool coin, dude! What's the grade?
I'll guess, a AG 03?

Yep. Spot on. AG3

CoinJunkie

I bought this Gettysburg in a PCGS MS64 holder for about 3x sheet ($1200) from Anaconda at a Long Beach show maybe fifteen years ago. I was in my "if it's pretty and I like it, who cares what it costs?" phase (since outgrown). Held it and enjoyed if for many years before selling at about a 50% haircut (through Greattoning, as I recall).

JJM

CoinJunkie

id bought that from you in a second

Smudge

Too embarrassing.

HalfDimeDude

I have to laugh when I hear collectors who boast that they never over paid,never purchased a detailed coin,never purchased a fake,etc etc...
As in my years I've known a lot of collectors ,they may not want to admit it but all of them including myself have over paid, purchased a problem coin,or a fake....etc.
Again if you haven't then you must not be human.... and it's time to call the mother ship.
I will admit most were specimens purchased on line , but some were at a show.
I recall a 2.5 Indian gold ...it was gold but not the gold used to mint US 2.5 dollar coins.
I like this thread yeah can be embarrassing, but it can be educational too!
Lastly learning from mistakes may be hard.....but the school of hard knocks makes lessons learned stick!

Jzyskowski1

Need I say more
and that’s only part of that overall experience
😊

BryceM

Here's a photo. Hopefully it's only a subset of these:

thebeav

Too many to mention, (hey you can't WIN if your don't play) but I've never photographed any.....
I know that, in one of my SDB's, I have a pair of 63 2 1/2's, an Indian and a Lib. I remember buying them about 25 or 27 years ago when they were worth money. I paid 2100 for the pair. They're not even worth half that now.
I do remember they were awfully nice for 63's though, so I'll have to re-submit before I sell them.....

gumby1234

@BryceM I wish my coin jar looked like that.

Barberian

I collect classic commemoratives, so I'm thoroughly buried.

Beefer518

@BryceM said:
Here's a photo. Hopefully it's only a subset of these:

You should make that into a jigsaw puzzle!

I too was a bidiot, and paid waaaaaay too much for this;

ricko

I have no doubt I may have overpaid for some coins... However, I do not buy tarnished coins, so have avoided that pitfall. I may have acquired some good buys as well... Frankly, I am not really sure, since I have not checked values in many, many years. Not being a dealer - or even a seller - I just enjoy my coins. No doubt sets from the mint were overpaid for and value diminished since then. As I think about it, probably overpaid for a CC Morgan or two as I completed my set. Cheers, RickO

SiriusBlack

I wouldn’t say I’m buried in them, but when I first started collecting I was more interested in filling my type set album as fast as I could. Since I had never seen most of these designs I wasn’t to worried about cleaning or damage, I just wanted to fill the hole. Now I realize I should have taken more time to find better examples. That said I don’t regret it because I didn’t spend a lot of money, and finding all those coins was exciting and gave me the bug to keep collecting. I still have the set and even buy junk to keep filling it with now and again for fun. I avoid the damaged stuff now though.

Connecticoin

@CoinJunkie said:
I bought this Gettysburg in a PCGS MS64 holder for about 3x sheet ($1200) from Anaconda at a Long Beach show maybe fifteen years ago. I was in my "if it's pretty and I like it, who cares what it costs?" phase (since outgrown). Held it and enjoyed if for many years before selling at about a 50% haircut (through Greattoning, as I recall).

I suspect many folks were buried with Anaconda purchases. Still a beautiful coin!

Connecticoin

Probably this one

Quincyboy12

I needed a 1927s Peace Dollar and bought one in an online auction. Thought it was a sweet UNC. Came back AU cleaned of course. Only spent 120 plus shipping but I was just starting out and it stung.

Mgarmy

I believe I was upside down until this year. When I first started And for several years…I amassed coins. Two years ago I had learned enough (these forums and books) to collect.

CaptHenway

@Sonorandesertrat said:
A big chunk of my collection, aside from large cents, fits this category. Example:

The coin is real, and the coloration exceptional (as far as Bechtler dollars go). The toning is almost certainly real, since this coin came out of an old-time collection. The price was exceptional too, as was the dealer's hype (so nice that he seriously thought about keeping for himself). Of course, he didn't want the coin back when I offered it to him (we didn't even discuss price, but he indicated that he remembered this coin)...

I love it!

airplanenut

Not that I haven't made bad purchases over the years (I have!) but I've been lucky in a few ways. First, many of my bad purchases were made early one when I was young and had little to spend, so it was hard to get buried at such a low price level. Second, 14 years ago I went through my collection and sold off a good number of pieces that I didn't love; I haven't sold a coin out of my collection since, and I've been a really picky buyer since then, as well. There are coins I have where I've paid a steep price, but for the quality, I think I'd get the money back (barring the series dropping in value significantly). Now it may be that I've paid a bit more than I should have when I finally found the right example, but I don't think I've done so by an egregious amount. All that said, if I were to find a great example of something that had been eluding me for years and I had to way overpay to get it, there's a good chance I would just to stop hunting, getting buried be damned.

lkenefic

I'm likely upside-down on this...

coinkat

Better to post a coin you are buried in than buried with...

Catbert

I guess being buried is relative. If 6 feet under represents 100% loss and each foot represents 16.6% increments, then I’ll guess that most of my collection is between 1-2 foot buried. 😱🤔 I truly don’t know.

Then again, one must seek the right sales venue and possess sufficient patience to scrape the dirt away to reach air and relief!

Sonorandesertrat

Collectors, first and foremost, have choices and I have repeatedly told beginning collectors that the smart move when considering the purchase of a coin is to simply walk away 95-99% of the time. When I bought that Bechtler dollar, it was an impulsive act. When I saw it posted for sale, I instinctively knew that it had toning (most have been dipped) that was very unusual and authentic-looking, so I immediately bought it. Later that day, a number of Forum members wrote that they tried to buy it, so I thought I had a prize. A few fleeting moments of smugness cost me $2-3K (projected loss upon sale), and it was for a coin that did not fit into my collection. Not being disciplined is a good way to wind up upside down. Another stupid mistake I made was to unhesitatingly accept the representations of the dealer regarding this coin. Listen to what a dealer has to say about a coin, but if he is trying to sell that coin to you, exercise caution. Appearance and reality do not always coincide, especially where coin dealers are concerned.

Another way to wind up in the red (even after a decade or more of ownership) is to choose a niche area that is largely in the control of one or a few dealers. Some years ago, there was an extended thread about one dealer who specialized in high-end Franklins---he clearly was not interested in making a two-way market and priced what he had for sale to the hilt. Collectors who buy coins mostly from dealers should make an effort to understand their business models--one way to do this is to occasionally offer a coin back to the dealer from whom it was purchased in the first place. The dealer's response can be quite revealing.

oih82w8

According to my non-coin collecting family and friends...all of them!

JimTyler

My buried are walking dead zombies somewhere else. I screw up take the hit and move on. I even delete all pictures and therapy is helping with the nightmares.

jackpine20

I only keep the coins I love. I have sold dozens of coins at a loss without looking back. If you ask me to look back, maybe the greatest loss was a 40% loss when I sold my F Details graded 1795 Flowing Hair Dollar after I grew tired of the problem. Now, I don't have to think about it when I study my coins. Before that blunder, I put together an almost complete set of raw Morgan dollars only to realize I was spending all of my time trying to match the same grey-dirt-VF20 appearance of a handful of coins. I turned around and sold all but my five very favorite examples. I keep them in Air-Tite holders and I admire them almost daily. Keeping a coin I'm not in love with ... or proud of ... makes me sad. Be thankful and move on.

SIowhand

I try not to dwell on it, but I’d imagine I’m buried in most coins. Nothing too tragic that I am aware of.

I’m not a dealer and I don’t get the opportunity to buy at deep discounts like I see people bragging about. I’m the poor fool at the end of the line paying retail for good looking gold coins. The only ‘good’ deals I see are on coins I won’t buy which is why they are priced the way they are.

The only thing that turned out well for me are some common date gold coins that trade for a modest premium over spot. And that’s only because of the rise in the gold price over the last year or so.

I don’t care though. No plans to sell. I’ll let me heirs sort it out and it will be pure profit for them.

ReadyFireAim

I "upgraded" the MS65 I had with a MS64

I cracked this one out of an MS64 OGH and submitted it raw. It got body-bagged (Alt-Surf)
After sending it back in to have it conserved, it came back MS64.
It's now the lowest graded coin in my set but looks better than ANY MS65 I have ever seen. (and a couple MS66)

Purchase price $2875 PCGS price $2750 (not including reso fee + 1st grading attempt)
I give up. I really like it even if the graders don't.

bolivarshagnasty

@ReadyFireAim FWIW, that's one of the nicest ms64 Saints I have seen as well.

Cocoinut

I have a 1932-D quarter in MS64 that cost $3,650 at the height of the Washington quarter market in 2001. Current PCGS value is (ouch!) $1,950. It's been in the safe deposit box for so long, I don't have a good photo, but it's in an OGH, so it could bring a bit more.

BillJones

You usually don't think that blue-chip coins like this will go south, but this one did.

Martin

I hit the like button because I like the piece. Not because it went south on ya
Martin

coinbuf

Gradeflation has buried me more than I buried myself, still love the coin but I should have waited to buy until after the pops at this level and above exploded and prices dropped. Of course hindsight is always 20/20.

SkyMan

Gradeflation is a pain in the derrière, as it'll force me to waste money reslabbing a bunch of coins.

Having said that, I'm buried in a variety of coins. This one is probably my biggest percentage loser (it's a MS64*), but it still brings me great joy to look at it. In hand it's a killer. The pictures do not do the underlying luster justice...

Portross

This coin was part of a nearly complete Morgan dollar year set at a local auction house. I paid a few hundred dollars over the value of the other coins. It weighs 26.8 grams, and looks and rings like silver. I thought maybe the obverse was just a weak strike. Nope, a fake strike.

bolivarshagnasty

Selling at a loss will make a very discerning collector.
With the recent gains in the Morgan MS market, I'm not as buried as I once was.

JBN

This late date S mint in 67 had a population in the single digits when purchased in 2010. Now has population of 62 with three finer.

dcarr

@Portross said:
This coin was part of a nearly complete Morgan dollar year set at a local auction house. I paid a few hundred dollars over the value of the other coins. It weighs 26.8 grams, and looks and rings like silver. I thought maybe the obverse was just a weak strike. Nope, a fake strike.

I suspect that is actually a genuine coin (or two genuine coins, to be exact).
BUT, it may be a 1892 [Philadelphia] or 1892-O (New Orleans) obverse inserted into a common S-mint reverse.
There appears to be a possible seam visible on the obverse just outside of the dentils.

JimW

Percentage wise buried - only a couple of coins where if I sold today I'd only lose $100 or so. One of those I'd sell in a heartbeat (and will soon), the other no way (nicely toned late date Walker).
Thanks for all the great posts everyone - some common experiences we can all relate to

braddick

@dcarr said:

@Portross said:
This coin was part of a nearly complete Morgan dollar year set at a local auction house. I paid a few hundred dollars over the value of the other coins. It weighs 26.8 grams, and looks and rings like silver. I thought maybe the obverse was just a weak strike. Nope, a fake strike.

I suspect that is actually a genuine coin (or two genuine coins, to be exact).
BUT, it may be a 1892 [Philadelphia] or 1892-O (New Orleans) obverse inserted into a common S-mint reverse.
There appears to be a possible seam visible on the obverse just outside of the dentils.

Talk about a spot-on and excellent observation! I didn't see it and now that it has been pointed out I can't unsee it!

cheezhed

</insert any of my modern us mint offerings>

pmh1nic

@BillJones said:
You usually don't think that blue-chip coins like this will go south, but this one did.

Are we talking Virginia south or Florida Keys south?

Orlena

Wow, some nice coins listed above - just not at the right prices…. I’m in agreement with a few of the other folks who collect classic commemoratives - I love em but I think they’re a money pit. My Quarter eagles are old enough to maybe be profitable. My proof ASE’s and UK coins probably keep me in the plus column.

The hobby/habit gives me pleasure so that’s what I fall back on.

Portross

Thanks, @dcarr for your comments. I see why I was fooled by this coin. Now I can sell it for silver melt and recover some of my loss 🤣

DisneyFan

Back in 2007, I bought a PCGS MS65 1921 Peace Dollar @ $2850 which was $100 over the PCGS value at that time. I was tinkering with the idea of starting a type set and bought it thinking it was a really nice coin. I don't have a photo. Never started the type collection and over time the coin dropped to $1800 and I kicked myself so many times until last month! Looking at it today it might even CAC.