Do you question yourself when pulling the trigger on a coin? I made the right choice!

Tramp

I was the successful bidder less than one year ago on this nice Lincoln. I can't believe that it has nearly tripled in price since.

I questioned myself whether I was doing the right thing especially the price at the time. I went with my gut and because it was also calling me. Lol Glad I did!

https://www.pcgs.com/cert/44258558

[Deleted User]

Good buy, the timing was right. In 2019 when I was working on my peace dollar set my gut told me to acquire as many raw MS 1921s as i could. Guess what, i talked myself out of it and a couple years later watched that ship sail off without me. Still kicking myself about it.

Jzyskowski1

All the time but not as much as I used to. 😁

PeakRarities

I question myself on nearly every purchase, but all of my purchases have one thing in common. At the time that I bought them, I believed that to be the absolute best coin I could buy for that amount of money. If I don't love a coin that I bought after I get it in hand, I just sell it right away and move on. "The bitterness of poor quality is remembered long after the sweetness of low price is forgotten" 😉

MidLifeCrisis

I typically only buy a few coins a year and when I do, they are usually big purchases (for me) or involve a significant trade deal. So each time I do, I put a lot of thought into it. Sometimes that leads to talking myself out of the coin. Sometimes that leads to wanting the coin even more and, as a result, I feel better about the purchase. Not sure this is the kind of thing the OP had in mind...

ricko

No, when I buy a coin, even if the price is high, it is because I want that coin. That being said, I certainly shop around, and negotiate where possible. However, once purchased, I simply enjoy the coin and do not harbor regrets. Cheers, RickO

Cougar1978

Always - but glad if it turns out good buy.

ctf_error_coins

Never.

Know what you are buying.

PeakRarities

I want to clarify my position a little more. When I say "question myself" these are the things that are running through my head before I decide pull the trigger.

1. Grade Strength and value- Do I consider this coin to be in the top 10% within its grade? Is it stronger than most other coins of the same year and grade that I can find in auction records?
2. Price- Is it in line with comps, If priced above other recent sales, is the quality of this coin deserving of an extra premium?
3. Opportunity - If I pass on this one, will I have the opportunity to find another coin as nice or nicer in the next year or two? Am I willing to pay slightly more than I think the coin is worth and chalk it up to "opportunity cost"?
4. Scarcity Circumstances - Is there any pending circumstances that could drastically change the pop reports for this coin in the near future? Shipwreck? Fairmont? etc..

So essentially all of the questioning is done before I make the actual decision to buy. After I've made that decision, I'm done with the questioning and there's no going back. Larger purchases require more research and evaluation, if its an auction I may need to get a trusted individual to pull the coin in hand and give me an opinion. If everything checks out, I decide what my number is and place my strongest bid and hope it holds. I Try not to let my emotions influence my decision to spend more. Just last week, I stretched a lot farther than I wanted to for a coin that I've had my eye on for several months, and my emotions did indeed influence my decision making. I still didn't win the coin.

All of this reflection is for the flagship coins in my collection that I have to pay strong for. Other times, I might see a more generic coin priced really well and I make an opportunistic purchase when I think its underpriced. Those are the coins that I don't put much thought into, and Ill just flip them or keep them if they look good. Sometimes I make money and sometimes I break even but all of my "willy-nilly" purchases are normally at a price level that I know I'm not gonna take a bath on.

dsessom

I don't know how many other collectors do this, but I have, in essence, 2 collections;

The first is my "Serious" collection of registry coins that I am putting together. These are the more pricey coins.

The second are what I call "knick-knacks" that consist mostly of low cost modern proofs and graded commemoratives, etc.
I often browse Ebay, GC, and dealer sites. Every once in a while, I come across something that interests me and I buy it. I buy lots of "knick-knacks" and they make me as happy as any other "serious" coin.

I cannot ever recall buyers remorse on anything I have purchased.

JimTyler

It cost a lot less to pass on a coin you wished you would have bought than buying a coin you wish you never did. If in doubt…pass. Your example is the exception however I would have never bought it because of the spots and they will be brought up when you try to get triple the price you paid.