Great coin and fun read, thanks. I can honestly say that I'm glad I don't buy/collect coins that I would lose sleep over, everything I can afford is replaceable which has its benefits.
@DeplorableDan
After several days of consideration of your post, this may be the most rational decision that you have made for some time. You took a lot of time and really considered all aspects of it, and in the end came to the obviously correct answer. You are happy, almost giddy (lol) with your decision and would otherwise have been miserable. Life is too short to be miserable. Well done.
And I totally get your thought process, as I have been there before.
There are a handful of coins that caused me to lose sleep, until I purchased them, b/c I knew that I would have regretted it for the rest of my life had I not.
With coins such as those, you have to just step up to the plate and worry about the financial ramifications later.
Congratulations-I think you did the right thing.
She’s a beauty!!
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
It's funny and I know it doesn't "matter", but still does -- I love that this superb coin has a superb NGC hologram. Now, if the CAC sticker were worn or damaged? Yep, I'd arrange to have a mint replacement made. Fortunately not needed here. The coin is something to behold!
Wrote this about a year ago after a major purchase (20 times greater than any of my previous coin purchases) but hadn't posted it.
DD wrote - "Over the course of the next several days I was researching records, establishing trends, and weighing out pros and cons, upside and downside. I realize not everyone does this, but I've always approached my large purchases with a business oriented rationale, and always like to keep resale value in mind. Some say that collectors shouldn't do that, but to each their own. It works for me and it helps me to rationalize the amount of liquidity and the opportunity cost of holding coins like this.
In the end, I realized that I was trying to rationalize the irrational. From the moment I laid eyes on it, the little voice in my head, which interestingly sounded a lot like Laura Sperber, was screaming at me to "Just BUY the COIN!"'
This is an interesting and entertaining read for me after going through a major purchase recently. Yes - All the analyses one goes through to assess the purchase, including the opportunity cost of holding. I'm down $10K on that alone at the moment (stock market took off immediately after the purchase). Then, there are the commitments to others in my life. I decided that I really don't mind living in poverty so long as I live in the country. Just plant a garden, raise some chickens, catch some fish, scrap, roll hunt, and metal detect. Seriously, though, I just decided to go wild and go for it.
In retrospect, my initial analyses were tainted with optimism and then confirmation bias. I had made up my mind as soon as I saw the ad and ran a 2-second analysis on the price to see it was reasonable. I just felt I had to build an argument to justify this purchase in my mind to my deceased father. I can still hear him swearing, particularly after I consider I hadn't seen the coin in-hand yet. A more realistic assessment after the sale only brought the coin's value down a few K in my mind, though. Considering opportunity costs, everyone was/is happy. Who knows what tomorrow will bring in a lightly traded market?
I know this is a year late, but I'm glad you're happy with your Clark Gruber. I took a long look at it. It started to glow a little.
Comments
Great writeup! Congratulations on acquiring a fabulous coin!
An authorized PCGS dealer, and a contributor to the Red Book.
Well-written. Fine story. Heckuva, heckuva, heckuva, specimen. Thanks for sharing.
Great coin and fun read, thanks. I can honestly say that I'm glad I don't buy/collect coins that I would lose sleep over, everything I can afford is replaceable which has its benefits.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
@DeplorableDan
After several days of consideration of your post, this may be the most rational decision that you have made for some time. You took a lot of time and really considered all aspects of it, and in the end came to the obviously correct answer. You are happy, almost giddy (lol) with your decision and would otherwise have been miserable. Life is too short to be miserable. Well done.
Great post and what a beautiful coin. Congrats!
Dammit, I didn’t need any more inspiration. Now I gotta go buy another coin I can’t afford.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Glad you are happy with your new purchase. A quite stunning piece of history!
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Excellent post!
And I totally get your thought process, as I have been there before.
There are a handful of coins that caused me to lose sleep, until I purchased them, b/c I knew that I would have regretted it for the rest of my life had I not.
With coins such as those, you have to just step up to the plate and worry about the financial ramifications later.
Congratulations-I think you did the right thing.
She’s a beauty!!
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
super. congrats
ParadimeCoins.com PCGS NGC CAC InventorySign up for our exclusive NEWPs mailing list - Subscribe
It's funny and I know it doesn't "matter", but still does -- I love that this superb coin has a superb NGC hologram. Now, if the CAC sticker were worn or damaged? Yep, I'd arrange to have a mint replacement made. Fortunately not needed here. The coin is something to behold!
Hoping it stays in that holder
Wrote this about a year ago after a major purchase (20 times greater than any of my previous coin purchases) but hadn't posted it.
DD wrote - "Over the course of the next several days I was researching records, establishing trends, and weighing out pros and cons, upside and downside. I realize not everyone does this, but I've always approached my large purchases with a business oriented rationale, and always like to keep resale value in mind. Some say that collectors shouldn't do that, but to each their own. It works for me and it helps me to rationalize the amount of liquidity and the opportunity cost of holding coins like this.
In the end, I realized that I was trying to rationalize the irrational. From the moment I laid eyes on it, the little voice in my head, which interestingly sounded a lot like Laura Sperber, was screaming at me to "Just BUY the COIN!"'
This is an interesting and entertaining read for me after going through a major purchase recently. Yes - All the analyses one goes through to assess the purchase, including the opportunity cost of holding. I'm down $10K on that alone at the moment (stock market took off immediately after the purchase). Then, there are the commitments to others in my life. I decided that I really don't mind living in poverty so long as I live in the country. Just plant a garden, raise some chickens, catch some fish, scrap, roll hunt, and metal detect. Seriously, though, I just decided to go wild and go for it.
In retrospect, my initial analyses were tainted with optimism and then confirmation bias. I had made up my mind as soon as I saw the ad and ran a 2-second analysis on the price to see it was reasonable. I just felt I had to build an argument to justify this purchase in my mind to my deceased father. I can still hear him swearing, particularly after I consider I hadn't seen the coin in-hand yet. A more realistic assessment after the sale only brought the coin's value down a few K in my mind, though. Considering opportunity costs, everyone was/is happy. Who knows what tomorrow will bring in a lightly traded market?
I know this is a year late, but I'm glad you're happy with your Clark Gruber. I took a long look at it. It started to glow a little.