When You Go To Buy a Unique Coin ........
ctf_error_coins
Posts: 15,433 ✭✭✭✭✭
...... and find out that that coin is not unique.
There are two instead of one. Both have a hefty premium because they are very cool.
So, what do you (I) do?
1) You love unique coins so you pass because it is not unique.
2) You offer a lower premium altho you do not think the dealer will take it and if not pass.
3) You buy both coins with the hefty premium and hoard the coins.
4) Offer the seller a lower premium on both coins they probably won't accept but if so, hoard the coins.
5) Just buy one of the coins at full premium
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6) Purchase the second one and melt it.
Now you're back to owning a unique coin.
peacockcoins
Does two indicate there are more? Make the lower offer for one.
"Got a flaming heart, can't get my fill"
Unknown to me, I was surprised that there are two. Offer is on the table.
Buy the nicer one.
If the seller says it's unique, indicate the error and ask for a discount.
I thought it was unique, the seller told me there are two which I confirmed on my own after the call.
My wife told me last night to just buy the coin as I kept bugging her about it. Last night, I thought the coin was unique.
1) The coin is super cool with insane eye appeal
2) Huge premium because of the coolness factor. I think I would have bought at full price today, but ....
3) The coin is not unique which changes things.
I would be happy to own a coin that there was only two of.
I would go for the one that appeals the most to me.
Wayne
Kennedys are my quest...
Sound like you guys are trying to talk me into getting one.
I already have a very catchy name for this almost unique coin
I’d be careful about buying it since more may turn up. It’d affect my purchase offer.
This could be true. My research says there are only 2 known.
Option 7) Someone offers to buy extreme eye appeal sight unseen ( coin 2 of 2) for less than my normal margin (profit) requirements so that I can justify buying both coins
You guys know that if I am really interested in this coin and can't stop thinking about then it is a show stopper coin.
Buy the nicer one and give a offer on the other if he doesn’t take it walk or give a offer on both but make it that you are buying the other at a discount. Now if I like them that much I’ll just buy both and be happy I got them put on them buying shoes.
Hoard the keys.
Buy them both, control the market.
Can I borrow 5K?
Corner the market. Buy them both!
4) Offer the sellers a lower premium on both coins they probably won't accept but if so, hoard the coins.
Would favor this option as you might end up with one or both at your desired price. The downside if you buy only one is that there is another on the market competing with yours, so you may have to wait a while to sell it. The downside if you buy both is that, because you'll want space between the sales, you may have to wait a while to sell the second one. If both sellers pass, you can still pick another option.
I’ve noticed that quite a few posters use the word “premium”, when it seems to me that they're actually talking about “price”, which often means something very different. Do you use the words interchangeably? If not, what did you mean by “premium”?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
But until very recently, you thought it was unique. 😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
5) Just buy one of the coins at full premium-Just TWO is still pretty RARE!!
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
In negotiation now
Yes you are correct as I should have said price. The reason I used premium is I know close to what the seller paid .
Thanks and good luck in your negotiations.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The problem with researching is you never know whats lurking in private collections.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
Never can be sure. They may trickle into the market over years when the price is elevated enough. Probably been done before with non-error coins. Never know what is lurking in someones sock drawer.
How many coins are there only 2 of? I would feel that to be unique in itself.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Thanks guys going after both
Taking them both,
not taking a bath...?
Oh! Almost forgot to mention...
.
When You Go To Buy a Unique Coin ....
Unique up on it!
If you get both, do we get pictures? I can't be the only one curious.
There is an old Econ problem set question based on this.
In this situation, if the buyer did not lose money when employing this strategy,
what is the price elasticity of demand?
Good luck in your quest to get both... The right decision IMO... Look forward to seeing these 'unique' examples that have captured your interest. Cheers, RickO
Agree. That's what I'd do.
Yes, pictures are required.
Wayne
Kennedys are my quest...
@ErrorsOnCoins So did you buy it?
I was in a quiet period as the negotiation was on hold over the weekend.
Bummer, One of the coins sold. I was worried this thread may have led to that so I quit posting.
Anyway I did buy the other one this AM and at a discount.
No photos sorry, but I will make a post about this coin in the future.
I know the feeling of someone else biding on a particular coin that I had posted with a WTB coin on BST.
A coin came up on an eBay auction, which I bid on only to lose to another bidder.
The winner tried to resell it to me at a higher price.
I found this out because the eBay coin had the identical pictures and cert# he was offering to me.
I guess you have to keep your cards close to your vest.
Wayne
Kennedys are my quest...
You know the rules never post what you don’t have in hand yet…. Even if you paid for it the buyer can still back out till you rec it in hand say nothing.
Hoard the keys.
Absolutely, been there done that but I still got that coin
As to this thread. I started the thread after I decided not to buy the coin because of the new information that there were two. After researching the photos, I fell more in love with the coin and wanted one. After discussing it with my wife and the coaxing here, I decided that I had to buy both.
Then I got to worrying that someone here may figure what coin I was after by the tidbits of information contained in this thread so I went silent.
Never discuss a coin that you do not have in hand that you are considering buying.
Way too much information was in this thread
Good for you happy you did get one, hopefully the best one. 👍🏼
Hoard the keys.
Condition rarity changes as new items are found, hence, I stay away from that end of the market. I don't know how many years ago, someone paid quite a bit for a pop 1 53 S FBL Franklin in MS 66. Then another one was made. He sold it for half of what he paid for it. No bueno.
"Seu cabra da peste,
"Sou Mangueira......."
Pretty sure the exact number is 2.
Not 100% sure tho.
I have learned my lesson on "unique" coins unless they are old and a "known quantity"........... Seems there's a few Silver Eagles with signatures on their inserts which can make them quite valuable..........and just when you think you've got a "deal" as there's only a population of two or three, you get blindsided when you find out there's only two or three with THAT particular insert! I have seen this tactic a lot lately with the modern silver and gold eagles. One silver eagle I checked has over 140 different inserts so there's plenty of one or two population signed coins but PLENTY when they are all added up. I sincerely hope you got a wonderful coin and if you're happy with it, that's all that matters! Looking forward to seeing your prize one day! Congratulations.
Proof DCAM 70 Ike's are a great example. Used to be quite scarce and now more and more DCAM 70's are popping up every day. $4-$5000 coins are now less than $1,000 and Proof 69 DCAM's are a dime a dozen.
The only thing unique is the PCGS slabbed cricket.
That is a 1 of 1. But do show us your purchase when the all clear is final. Were the grades equal to each other?
I am a collector
And things, well things
They tend to accumulate
Would love to see some pics!
I look forward to seeing what this is!
My YouTube Channel
Next question, When you go to buy a unique coin and it has a fingerprint?
Glad you were able to pick up one of the twonique coins!
To your 2nd question, if it’s unique and desirable, nobody has one without a fingerprint, so it just gets baked into price based on overall eye appeal and how many others want it.
Is it a famous fingerprint?