Contest / Giveaway idea - would it work/get participation?

U1chicago

I wanted to get some thoughts on if the following contest (giveaway) idea would get enough people to participate and if it seems fine under the rules.

The rules:
1) Post a coin you paid up for and would be happy to break even on.
2) Tell us how much you paid and why you initially went that high.
3) I’ll pick one winner and buy their coin with PayPal Goods and Services (I cover the fee and a reasonable shipping fee within the US…up to $10).
4) We would set the max amount at $500 (I don’t have infinite resources ) and would exclude bullion (I feel like it’s less fun to show an ASE you paid $50 for when spot was higher). We would also exclude counterfeits (for obvious reasons).
5) One entry per person

WQuarterFreddie

So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

PeakRarities

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

WQuarterFreddie

@U1chicago said:
I wanted to get some thoughts on if the following contest (giveaway) idea would get enough people to participate and if it seems fine under the rules.

The rules:
1) Post a coin you paid up for and would be happy to break even on.
2) Tell us how much you paid and why you initially went that high.
3) I’ll pick one winner and buy their coin with PayPal Goods and Services (I cover the fee and a reasonable shipping fee within the US…up to $10).
4) We would set the max amount at $500 (I don’t have infinite resources ) and would exclude bullion (I feel like it’s less fun to show an ASE you paid $50 for when spot was higher). We would also exclude counterfeits (for obvious reasons).
5) One entry per person

Read through your post again....locking it in for all to see.

WQuarterFreddie

@DeplorableDan said:

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

Ok. So he wants to buy our coin at cost. This should be on BST....

U1chicago

@DeplorableDan said:

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

Yes if someone reads the whole post it seems pretty clear. There are many times one overpays for something and then wants to sell it but can’t come close to getting their money back. A dealer might offer a fraction of the amount paid but the idea here is to make the person while for the entire sum.

messydesk

@WQuarterFreddie said:

@DeplorableDan said:

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

Ok. So he wants to buy our coin at cost. This should be on BST....

I think the intent was to offer to get someone out from a coin they're buried in, but yeah, BST.

U1chicago

@WQuarterFreddie said:

@DeplorableDan said:

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

Ok. So he wants to buy our coin at cost. This should be on BST....

It seems like you still haven’t read through the whole post even after quoting it. It’s not for the BST since I don’t necessarily want any of the coins. It’s a way to give back to the community by helping someone break even on a coin they otherwise wouldn’t be able to sell without losing money. Pretty much everyone has one of those but no one has to take part if they think all their coins can be sold for a gain.

WQuarterFreddie

@U1chicago said:

@DeplorableDan said:

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

Yes if someone reads the whole post it seems pretty clear. There are many times one overpays for something and then wants to sell it but can’t come close to getting their money back. A dealer might offer a fraction of the amount paid but the idea here is to make the person while for the entire sum.

Seems clear you want to buy a coin at our cost. What you didn't make clear is if you are keeping it or are planning on using it as a giveaway.

Either way....I don't like the idea but that's my opinion which is what you asked us to post.

U1chicago

@WQuarterFreddie said:

@U1chicago said:

@DeplorableDan said:

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

Yes if someone reads the whole post it seems pretty clear. There are many times one overpays for something and then wants to sell it but can’t come close to getting their money back. A dealer might offer a fraction of the amount paid but the idea here is to make the person while for the entire sum.

Seems clear you want to buy a coin at our cost. What you didn't make clear is if you are keeping it or are planning on using it as a giveaway.

Either way....I don't like the idea but that's my opinion which is what you asked us to post.

Why don’t you like it? If I changed it to giving someone a $50 profit on a coin they are otherwise buried in and wouldn’t be able to sell for breakeven, would that appeal more to you?

messydesk

Anyone have an 1881-S Morgan in 65 they bought in 1989?

U1chicago

@messydesk said:

@WQuarterFreddie said:

@DeplorableDan said:

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

Ok. So he wants to buy our coin at cost. This should be on BST....

I think the intent was to offer to get someone out from a coin they're buried in, but yeah, BST.

Why BST? It’s a contest and would have a winner. Plus I’m not looking for any specific coin and the thread could be educational in seeing what led to people paying up for something (and possibly avoiding the same situation in the future).

WQuarterFreddie

@U1chicago said:

@WQuarterFreddie said:

@U1chicago said:

@DeplorableDan said:

@WQuarterFreddie said:
So....you want us to sell YOU a coin at our cost or below?🤔

This is wrong on so many levels!🙄

You've misunderstood. Note the use of the words "Happy to break even on".

Yes if someone reads the whole post it seems pretty clear. There are many times one overpays for something and then wants to sell it but can’t come close to getting their money back. A dealer might offer a fraction of the amount paid but the idea here is to make the person while for the entire sum.

Seems clear you want to buy a coin at our cost. What you didn't make clear is if you are keeping it or are planning on using it as a giveaway.

Either way....I don't like the idea but that's my opinion which is what you asked us to post.

Why don’t you like it? If I changed it to giving someone a $50 profit on a coin they are otherwise buried in and wouldn’t be able to sell for breakeven, would that appeal more to you?

Yes. 😂🤣

I assume you want to use the coin as a giveaway prize so others may find it worthwhile but I am not interested in playing the game.

Also, if you decide to do it I feel this should be posted under Coin Swaps, Tag and Giveaways forum not here.😉

Conshyboy

This is not for me.

jmlanzaf

I think it is as fun and interesting as a "Newp" thread. It's also 10x more interesting than imagined errors and corroded coins.

The only down side is I'm not sure people will want to post their mistakes.

There's also no reason why they couldn't lie about their acquisition cost to try and actually make a profit.

But I personally have no problem with you playing the game. What's the worst that could happen?

WQuarterFreddie

@jmlanzaf said:
I think it is as fun and interesting as a "Newp" thread. It's also 10x more interesting than imagined errors and corroded coins.

The only down side is I'm not sure people will want to post their mistakes.

There's also no reason why they couldn't lie about their acquisition cost to try and actually make a profit.

But I personally have no problem with you playing the game. What's the worst that could happen?

What's the worst that could happen?

You know. You KNOW!🤣😂

jedm

I like the idea. It's innovative and I believe your motive is altruistic. Unfortunately I just freed myself of one a week or so ago at the coin show in Omaha. Sometimes I just take the loss and move on, keeping it fun and not dwelling on the monetary details; however, that one would've been a candidate for your offer.
I just looked through my inventory for another one that would fit the bill, and have none that would qualify because of my tendency to purge every so often, so as not to have to see them in my collection.

jedm

Ooops, that didn't take long, I just had to think a little harder and I found one that I would enter into your contest. Anyways - I like the idea. Have fun with your coins.

gumby1234

I overpaid for this one, but its because its worthy. It has an amazing strike for a 23 S Buff. I'm keeping it and don't care if I ever get my money back on it.

ctf_error_coins

Not quite the same, but I just noticed one of my PCGS Mint error coins has a major cracked slab and needs to be reholdered, So buy as is or reholder. Big discount from retail for this one ... $500

Slab before cracked. I don't know what happened,I think I dropped it ..

RiveraFamilyCollect

I'll play. I got a mint sealed first strike 2023 Britannia charles effigy. I didnt know the mint seal rules so put the coins in 2x2 mylar flaps to grade. PCGS didnt want to give me first strike because I waited a bit to send them and they were no longer sealed. So I paid a premium and it was wasted. AND I got a MS65 on this brand new coin.
I got hosed. I can get the exact break down of how much I paid and with grading and shipping when I get home later. It will end up being like $80-$100.

U1chicago

By the way, the contest has not started. This thread was meant as a discussion to see if it was worth doing.
The initial reception was against it but recently we have people that are interested. So let’s see how it goes with a few more people before I decide to keep this idea or do a different type of giveaway.

1630Boston

Fantastic error @ctf_error_coins
.
and @U1chicago , I think you are free to post a contest/give away as you see fit.
boston