The coin world is hard to out smart. Tell us the stories on how you out did the best.
Clackamas1
Posts: 1,078 ✭✭✭✭✭
No one successful in the coin world is dumb.
4
Clackamas1
Posts: 1,078 ✭✭✭✭✭
Comments
I bought some coins and had a blast. I bought some books and learned a lot. I met some great dealers and collectors and now I have some really fantastic friends.
I win.
How did you do that? If it upgraded it would be a POP 2/0?
OK, must have been a grade gap between the POP 11/1 coins.
I'm having a good time so hopefully I'll live longer
Interesting
Every coin I have has been out doing the experts. They said I’d not live past 60. Here I am, 70 and just started seriously collecting 5 years ago, so any and all coins in my collection are there because I out did everyone’s expectations. Thanks 🙏
🎶 shout shout, let it all out 🎶
I could tell you but then I'd have to kill you.
Seriously, I've heard a seasoned antiques dealer say that the key to making money in the business was knowing a little more than the last guy. In several respects this is quite true.
11 ms65, 1 ms66, you make a 65+ Go from 11/1 to a 1/1
Knowledge is the best way to outsmart others in any field. Learn what others either don't want to or don't have time to.
Imagine if you could have your personal collection paid for by making money on the coins that others are unwilling to take a chance on either raw or upgrade material and flipping.
I agree, knowledge is the key. Also, a good memory and quick recall help with thinking on the fly so that you don't have to have access to a lot of reference material.
Buy low sell high.
Also,
"Knowledge is Good"- Emil Faber
A PLEDGE PIN?!?!??
Several years ago I was looking for anything of interest on eBay that I could buy for a good price.
I came across a listing titled and described as a "Denver copper token". That was all it said. The current bid was $20, with a couple days to go yet.
I knew it was an item that I wanted. It was an original pattern strike in copper for the 1860 Clark Gruber "Mountain" $20, but with a geometric triangular peak that I refer to as the "pyramid". I believe that this is the first numismatic item of any kind ever minted for, or in relation to, Colorado. While these are not nearly as rare or valuable as the 1860 $20 gold issue, it is still a piece that is very difficult to find in an unmolested state. Most have severe damage, corrosion, deep scratches, graffiti, and/or are gold plated. Although it was uncertified, it was still the best I had ever seen of the issue.
So I made it a point to bid live during the final moments.
With 30 seconds to go, the current high bid was $35. With 18 seconds to go, I entered my maximum bid of $5,650. After my bid was registered, I was the high bidder at $109 with less than 10 seconds to go.
Then the auction was over. I won !
However, my winning bid was $5,450 because someone else had bid $5,350 during the last seconds.
I don't remember how I found out, but later I learned that this second-highest bidder was noted numismatist John Kraljevich.
So that is how I "outdid" (outbid) the best. But there is a lot more to the story:
After the auction ended, I paid right away and the seller contacted me via eBay message. They were flabbergasted by the price realized on their item. They asked me what it was. I explained that it was a copper trial strike for the 1860 Clark Gruber $20 gold pieces, and so on. Then the seller informed me of something that I was not expecting. They stated that they had another one that was even nicer. They had planned to keep it. But due to the potential of realizing several thousand dollars for it, they would sell it. Their plan was to offer it to the three highest bidders in the prior auction. They sent me photos of and it did appear to be a higher grade specimen. I knew I had just one chance to buy it, so I made a strong offer: $8,000. There were risks, however. I would have to send the $8,000 (outside of eBay) and hope that they sent they coin. The seller indicated that they would take my offer. My only stipulation was that I wanted to finish our deal and see the $5,450 piece in my own hands before sending the $8,000. The seller agreed.
I waited a few days and my $5,450 auction win showed up. It was a very "wholesome" piece that I later had graded at PCGS where it received an AU58 rating. Here it is:
So then I went ahead and sent $8,000 to the seller. It was a risk that I decided was worth taking. A week later the second one arrived. And it was indeed a higher grade than the first. I also submitted it to PCGS and the grade was MS63+BN. It is the only "+" graded example of the issue, and there is only one supposedly higher one at MS64BN (I have never seen that one or even a picture of it). The MS63+BN specimen is now the lead picture for the issue at PCGS CoinFacts:
During the old raw days I attributed an 09VDB proof in a major auction that had been missed and was listed as MS. I sat in the auction biting my nails until the lot came up. Started out as hoped, but then quickly escalated - alas I was not alone! The auctioneer looked up and said "Is this a proof?" Everyone laughed. I never got a bid in. Made me feel good tho.
No It was a POP 11/1 in ms66. I went through all the auction archives and found that there were only 2 coins and that coin was the one that finally got upgraded to an MS67. So I printed off all the evidence and mailed it to PCGS. They then corrected the POP to 1/1 mine stayed an MS66 the other coin is the MS67.
Now, what I'm about to say is not giving the coin doctors any leeway.
When I found a Beautiful 2020W Quarter in roll hunting. It had a haze on its surface.
So, I dipped it slightly in water downed "EZEST".
I sent it in to PCGS and it came back a spectacular MS 67! Sold that exact coin for $750 @ a big coin show.
Not saying that our host was fooled but just mentioning, It slide under the radar from the BEST!
Thank You, PCGS.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line."Knowledge is power".
Should be etched in stone if it isn't already.
There's nothing wrong with a dip, though. All you did was conserve the coin. Next time use ammonia, it should accomplish the same thing for basic haze.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
O.K. I understand. Just commenting as someone couldn't seem to understand how that was possible. Just throwing out a scenario where that was possible.
Dan Carr -- great story thanks for sharing! I love those two coins!!
I’m not sharp enough to outsmart anyone in this hobby nor do I seek those opportunities. I do have a vivid memory of mistakes I’ve made and don’t wish to publicize my ignorance or stupidity
"Got a flaming heart, can't get my fill"
Finding and selling W quarters has financed my silver coin habit since 2019...
It takes working your angle (say an area of specialty), patience, knowledge, and experience. The other piece is buying it right then marketing it in a venue where it has a good chance to sell with positive margin.
Successful BST transactions with....Coinslave87, ChrisH821, Walkerguy21D, SanctionII.......................Received "You Suck" award 02/18/23
@dcarr , nice story, thanks for posting it. I enjoy reading it very much.
Priceless!
That’s exactly how some people look at me!
This is just a story that I'd like to share and it has nothing to do with out-smarting anyone.
Back in around 2015; I saw (on a website) a 1942 S Walker graded MS 65 in a PCGS rattler with a CAC sticker. This was like a $275 to $350 coin, at the time, but the dealer wanted $525 for it. I really liked the strike, fields and luster of the piece. It was late at night and I, probably, could have called the next day and gotten it for at least $50 off, so probably for about $475. I just really liked the coin and I was afraid of losing it, so I just paid the money. Well, for years, I felt like I overpaid and that the dealer kind of took advantage of me. I try to be a smart buyer, when I can, because it only makes good business sense...ya know? But, it wasn't a large amount of money, in the grand scheme of things, so I just didn't let it bother me. I really thought the coin was unique and I had never seen a gem in a rattler and with a CAC sticker, before, so I just held on to it and enjoyed it.
Well, I just found out, today, that one ('42-S, CAC, rattler & gem) sold recently on GC for over $1750!
Wow! I feel Vindicated! LOL
Note: CAC stickers are super hot, right now, and especially ones on old green holders and/or rattlers!!
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
This 1969 S may have passed thru many hands (?)
D end.
If they have a good strike, as well as having good eye appeal, I believe the ''40's S mints are good buys today, and well worth stepping up for.
That's not the 1969-S DDO that's the rare valuable one.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@ PerryHall
That's not the 1969-S DDO that's the rare valuable one.
.
Shhh !
I know !
I'm working here !
You won't get very far here. You'll have better luck on eBay.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Yo, relax.
It's a joke, bubba.
I would never try to get over on someone.
ebay...whats that ?
This is an interesting thread.
Carry on.
I know you were joking and so was I. LOL.
Unfortunately, the 1969-S cent frequently comes with machine doubling which fools a lot of collectors who think they found the valuable DDO variety. There was a fellow member at my coin club back in the 1980's who found a 1969-S with machine doubling while coin roll hunting and he kept insisting that it was the rare DDO variety. I gave up trying to convince him otherwise and let him live in his dream world.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Well, you out smarted me.
Now get back to work !
Cool !
Speaking of coins, I do not think I have outsmarted anyone... at least not in the short term. I have purchased coins years ago that I believed would increase in value. And they have... in some instances 600-700%. That is just some market insight and also good luck. Also, willing to hold the goods for extended periods. Cheers, RickO
@dcarr Great find, gamble & story.
Click on this link to see my ebay listings.
Never outsmarted anyone, or even tried. Not even sure how I ended behind a counter. Got outsmarted, I guess.
Me thinks thou are being humble. Thanks 🙏
🎶 shout shout, let it all out 🎶
why outsmart people? all i do is let their "i think i know it all" catch up with them and wait as they leave a opportunity open then i'll just step in and take it
I don't sell coins to people unwilling to pay a fair price.
https://photos.google.com/album/AF1QipNm9TZ5hTiMM6diAOUOScrY6Mp2DkK1XnZ-bHP9
As a cherrypicker, I wouldn't say I've ever "outsmarted" anyone, I just worked harder.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
I don't think I've out smarted anyone. Just in the right place at the right time with cash. Just fortunate all around. Blessed with a wife that puts up with my crazy obsessions.
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
I don't think it makes me any smarter, but the biggest surprise was when I won my 1873-S Seated Half. On Dec. 31st 2006 I won lot 23577 for $184.00, including fees at Heritage. If you ;look it up you will see an ANACS 40 1873 Seated Half listed. If you check the reverse you will find a tiny S nestled under the eagle. I am still amazed no one else noticed it. James