time to see my psychiatrist-I'm looking at a 72-cc $20!

barney

Hi kids (especially Michael),

Well, I found another unique little item on eBay, of all places. Check this out, dreamweavers.

I have a lot of time on my hands right now between classes and was just awarded a lot of Social Security money. You've all seen my little
Morgan. Well, how 'bout a NGC 61 72-CC $20 to go with it?

Only problem: the guy wants $31,000 for it.

Rarity: only 3 at NGC 61, none higher, one at NGC 60, PCGS pop 0 in MS-60+...
History: early type 2 CC Liberty, rarity exceeded by only the 70 and the 71 cc's.
Aesthetic: Well, liberty heads aren't the most gorgeous coins but this one appears to have nice proof-like qualities.

I can't pay off the coin all at once, but the dealer has offered to "finance it" over two years. My total payment would be $36K.

Can you imagine paying so much for a coin? Yes, it's time to see my psychiatrist or go to my "support group." Well, here I am. Fire away, kids.

Hmm, and I used to dream about a hi-relief $20. Now I can pay cash for a low-grade one!

I've never had so much money before and I used to have a severe gambling problem. Maybe I should get a life or something, but I dig coins-
and I might be helping someone you all know and love represent his wares on the West Coast. Then I'd be able to meet you all in person.

Take care,
Barney

michael

that cc dollar is too much money for you!!........lol

sincerely michael

Placid

You can buy 12 $3,000 coins over the next two years, thats one every two months or buy that one coin and no others for two years.

supercoin

First, your Morgan is far prettier than that $30 grand beat up hunk of gold.

Since you asked, I would never recommend buying any coin that wasn't paid for from purely discretionary funds, and certainly not if it required financing.

How will you feel two years from now if in addition to overpaying $5000 for the coin for financing, the coin has also dropped $5,000 in market value? Will you still enjoy the coin being $10,000 in the hole?

Personally, that would be well outside my enjoyable limit unless I had about $1 million to spend on coins.

And what will you do with all that free time on your hands while waiting 2 years for your coin budget to recover? So my advice, of course, is to buy Ikes instead.

Steve27

Tell the dealer you want 0% financing or you're going to buy a car instead ($5,000 in finance charges over a two year period sounds very high).

its4real

Not too high...about 8% interest rate.

pmh1nic

Ultimately it's your money and your decision but I'm of the same opinion as Supercoin that you should only spend disposible income on coins in general and especially on a high end coin like this CC Double Eagle. Price is relative but the fact that you're financing the coin is a bad sign IMHO. If you had to turn around in a month and sell the coin for 50% of what you paid for it how badly would it hurt your financial situation?

Do you have a wife? Talk to her about it. That's why God gave them to us, to knock some sense into us when we're about to make a stupid move .

au58

<< <i>Do you have a wife? Talk to her about it. That's why God gave them to us, to knock some sense into us when we're about to make a stupid move . >>



Most profound statement and best advice I've seen on the forum this week.

DesertLizard

Depending on what other coins you have consider a partial trade.

Don't chase coins, they are not ging anywhere. Coins in that range I have found these days are purchased not by collectors but speculators, dealers and "flippers". These coins suddenly also appear available.

If this is an investment....Read my post of last week of why some people never make money in coins.

Again depending on your resources, a 30k coin for most is an investment.

Personally i would prefer 10 $3k coins.