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How to deal with making a bad purchase

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  • CoinscratchCoinscratch Posts: 8,658 ✭✭✭✭✭

    Once I realize I’ve made a bad purchase, sure it stings for a minute but that’s why they call it tuition.
    For me the most satisfying part of this hobby is making coins not buying made coins. So I make a lot of small purchases, mint sets, rolls, etc.
    This is almost always a crapshoot and then I spend even more tuition on grading fees. But once that good coin is finally made and I have learned what not to buy or to have graded I forget all about the 800.00 I spent to make that 400.00 coin.

    On a positive note your investment has increased by $2.13 since your original post. I like your avatar but change your mindset to a flashing yellow when seeing green.

  • BarberianBarberian Posts: 3,568 ✭✭✭✭✭

    @ShaunBC5 said:
    I don’t think anyone ever comes out on top on an impulse buy.

    I once bought a PR69 1964 Kennedy Half for $45 off of eBay on my first eBay visit purely on impulse. That coin quickly went up to $150 before dropping to around $125 today. You're right, though. Most of my impulse buys have been poor purchases but sometimes you get lucky.

    3 rim nicks away from Good
  • NIPSZXNIPSZX Posts: 79 ✭✭

    @DisneyFan said:

    @NIPSZX said:
    I'm starting to wonder if the look of the gold dust matters. Do you think that if the chunks are larger, they hold more premium compared to dust? It seems like the smaller the grain dust, the lesser they sell for on eBay. And the larger the chunks, the higher the price. Would this be true?

    There are a lot of gold nugget dealers on the internet - Gold Nuggets. - with educational websites. Have fun checking them out.

    What gold nuggets have the most honorable creditability, in your opinion? Which nuggets would you never question being genuinely solid real gold? It seems like these pcgs certified nuggets would be high on the list, imo.

  • ElmerFusterpuckElmerFusterpuck Posts: 4,722 ✭✭✭✭✭

    This really isn't a bad purchase at all. You overpaid a little based on what you found out afterwards, but not by so much that now you are down to eating generic dog food paired with sunflower seeds from your neighbor's bird feeder.

    Move on and enjoy the hobby, it's a fun one!

  • jonrunsjonruns Posts: 1,196 ✭✭✭✭✭

    First try to return. If that doesn't work then I'd re-list it and get rid of it fast because every time you look at it you will get pissed off. Learn from your mistakes and move on.

  • RandomsRandoms Posts: 159 ✭✭✭

    @TurtleCat said:
    @TurtleCat said:
    Most people waste more than that on tchotchkes on vacation. I’ve been there and done that as well. In my case it was a Mexican 2 peso gold coin I overpaid for. I just put it away and remember to be more careful next time. :)

    Mine was a Cuba 5 Pesos I overpaid for. Nicest one I had seen. I sold my others and kept it

  • NIPSZXNIPSZX Posts: 79 ✭✭

    Update on this thread..: I contacted APMEX and they offered me a return. I returned the item and APMEX refunded me plus some extra for shipping and handling. I am very impressed with their caring of the customer. I am going to seriously consider APMEX for all my precious metal purchases. Thanks for listening, everybody.

  • DNADaveDNADave Posts: 7,271 ✭✭✭✭✭

    That’s awesome. I usually just keep my mistakes and dollar cost average with the next rip I make.

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