What's the most over "bid" that you've paid for a coin you really wanted?
FC57Coins
Posts: 9,140 ✭
I've been browsing toned Morgan's on Ebay and needless to say the ones that catch my attention are outrageously priced (In my opinion).
I was just wondering - what's the most you've gone out of your way to get an "I just gotta have it" coin?
Frank
I was just wondering - what's the most you've gone out of your way to get an "I just gotta have it" coin?
Frank
0
Comments
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
Frank
I've seen your coins - I have no doubt about that!
Frank
There is no such thing as a $225.00 Ike.
HolySmokes!
<< <i>$375.00 on a $225.00 Ike proof. There is no such thing as a $225.00 Ike. >>
Jim - if you have one of these I'll give you $225 for it!
Bytheway - it's a bad pic - but it's an MS67 - in case you have one!
I paid $3,300 for a common date Morgan in PCGS 64DCAM with incredible obverse toning and a cameod reverse. It sheets at around $90 that last time I looked.
Was it, is it worth that much? Tough question. I'm a connoisseur of toned coins and I bought if from a connoisseur of toned coins.
I think it's a 65, as do many people who have seen it. I have sold others that were in 65 holders for over 3K.
I have not sold the earlier referenced coin (appearing below) and I've had it for quite a while, but then again, I have not lowered the price either, I believe.
adrian
anaconda.rare.coins (on eBay)
I also overpay on Rainbow Morgans, but only by a few hundred dollars
My posts viewed
since 8/1/6
And yes, not only did I sell it, but I had TWO serious offers of profit on it as well.
The scary part, I was willing to pay $30,000.00 for the set! I rarely pass up items I feel are unique. This set WAS unique!
I'm even stupider on what I pay for wild colored Commems (I was the underbidder on the Roanoke PCGS MS66 that sold for $17,000.00)! Bid was only $260.00 on that puppy.
Laura Sperber
lsperber1@hotmail.com
JUST SAY NO TO WANNABES! They lurk and prey on unwitting collectors in chatrooms!
I paid 6x bid for a choice AU 1812 large cent
I Paid AU bid for an exceptionally choice 1796 Quarter PCGS VF35
I paid $25,000 over bid for a
1796 no pole half cent, PCGS F15
The graysheet is of only limited utility for rare and choice early US coins.
I fell in love with that coin and I still have it.
I once paid around $800 for a BTW commem that bid at maybe $15. Bid meant nothing.
Some of these wholesaled as low as $2. The guides still list them all at less than
$20. for retail. Quit advertising because they quit coming in.
Many would say it's a $4. coin and they'de be right.
peacockcoins
Hey, I will have you know I paid $5 for it raw and the dealer didn't want to sell it to me because it wasn't worth that much.
The good news is that it is in an older slab and therefore might upgrade.
Sometimes, ``bid'' is just plain unrealistic for certain coins and certain series. I own an 1851 and an 1852 Seated Dollar (originals), and they both are priced in the real world far in excess of bid. My 1851 is an UNC, and I paid $30K for it -- and happily!
I also bid on a number of Russ Logan coins in the latest Bowers Baltimore auction. Those coins were going for sky-high prices. I got 6 ex-Logan coins, but competing with all those JRCS members were really annoying. I think I averaged twice bid for those 6 coins.
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
::Shesh:: My wife is right.
I am a wreckless collector!!
peacockcoins
And honestly, I wouldn't have sold it for the same price to anyone else. I only sold it to you because I knew how much you wanted it.
sincerely michael
The last laugh is when I'm long gone and my children get to figure all that out. . .
peacockcoins
You win the prize for the biggest premium.
Tell us what you bought at 25-30X and why you felt encouraged, obliged, or obsessed to pay such a price!
Re-elect Bush in 2004... Dont let the Socialists brainwash you.
Bush 2004
Jeb 2008
KK 2016
it was a super monster toned superb gem morgan bag toned the finest bag toned morgan i had ever seen super common date also.......lol
with all the right colors in all the right places on the obverse!
unfortunately i got scared a few years ago at the price and quickly moved it to someone else!.............lol
it was in the top 20 finest known
sincerely michael
Thanks for the additional information on your 25-30X bid Morgan;
Thread records are short lived however as Sean (KK) quickly out did you at 100X bid.
These are purchases of either passion or astute recognition of the unique value of a particular coin.
In your two cases, I will assume the latter but suspect both are true.
Incidentally, have you been able to sell your World Com stock?
Frank
and I know that coin is highly unique in its appearance I guess you
might say I am at the mercy of the dealer. I am not ashamed to say
that. I have paid well above asking on many rare items in the
past because if I didn't, someone else would. I once even
got into a bidding war with another dealer who was trying to buy
a rare coin from another dealer and he paid much more
than asking, beat me out, bought the coin. I then approached him
right after he bought the coin and offered him an instant $1000
profit. He still wouldn't sell.
The old saying "everybody has a price" doesn't always apply.
My website
I hate it when you see my post before I can edit the spelling.
Always looking for nice type coins
my local dealer
I hear her whisper to me,"buy me...buy me... my price is no object...buy me...buy me."
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
You should know enough about what you are buying to have confidence in your own opinions.
Furthermore, it is my opinion that expecting your dealer to pay you 10K in 10 years on something you bought now for 3K (just because you've had it 10 years) is an unreasonably expectation.
adrian
Sounds like a cop out response for burying someone.
Furthermore, it is my opinion that expecting your dealer to pay you 10K in 10 years on something you bought now for 3K (just because you've had it 10 years) is an unreasonably expectation.
No one said "just because you had it for 10 years", your missing the whole point. I'm saying a dealers statement as to how much over bid he paid (which it the topic) means little when most likely he's immediately out at a profit. If this coin hold its value for the long term it would give this dealers "genius" for paying the high price (and putting his customer into it) some credibility. The 10K in 10 years was just an example. I would be happy if my "monster" common MS65 Morgan I pay 3K for is still worth 3K in 10 years. As far as your $3300, $90 coin Anaconda I think that maybe you are the customer and will have to hope it holds its value.
this part bugs me also. Quit talking like a lawyer and talk like the honest, fair coin dealer you are. There can be no level of trust that this dealer isn't burying you to your gills?
As I re-read this I see I'm rambling a bit and getting off the topic, but my point is in there, it's my opinion you probably don't agree but I still think it's a valid point. The short version is Don't brag about paying 10,000 for a hundred dollar coin when you turn around and sell it for 11,000. the guy who paid 11 can brag and hope its not a hundred dollar coin down the road. This is an example and the topic is how much over did you pay.
When you deal in coins like I deal in (high grade and high end coins) there are many people who think I'M buried in the coin -- but when you see what the critic possesses, you think they're specializing in cheap but ugly coins.
Really fabulous coins can't generally be had at bluesheet. I cater to the people who want the best and it's a fuzzy world out there in non-sheet land.
Truth be told, I was actually trying to give non-lawyer but really good advice.
As far as burying someone - last year i sold a college student a Trade Dollar in NgC proof 66 cameo for 8600 and bought it back from him not long ago this year for 9000.
I sold a proof 64 seated dollar to someone at 9,000 (twice greysheet bid), he 65'd it and passed up my offer of $14,000.
I sold a pci common date morgan for more than 4 times bid, buyer re-holdered it into a pcgs ms 67 holder sold it back to me for 1400, i sold it for 1600 or so.
And then there's the roanoke. Bought it for 7400, sold it for 8500, bought it back for 19500 sold it for 22000 to a guy who read the whole thread.
Every one of the guys who bought these coins from me can easily find someone right after they bought the coin from me to say "Crane buried you" but some might, when told "the rest of the story", say, hey, you shore got the best of ole anaconda!
Trusting your dealer isn't a good idea. Knowing what things are worth is tough but extremely important!
It will save you grief and might even make you some money.
As I have said many times before, if you REALLY want an education coins, try selling them.
adrian
anaconda.rare.coins (on eBay)
I have to add this . You said don't trust a dealer know what your doing. It's my opinion again but your Roanoke is an example of you and the person you sold it to not knowing what your doing. There is no history of any kind to base that price on. You picked a number and it stuck.
Whew! Jim, I thought for sure you were gonna slam me. Thanks.
That's true, we're not gonna see what happens down the road. Certainly many dealers went bankrupt in the early 80s after the crash. I think now is a good time, though, to buy awesome coins.
As far as the roanoke and superb toned morgans go, I think there are a lot of guys that would love to see a crash in the market place. I know I for one would love to be able to buy awesomely toned morgans and commems at 1/10th of the price they're currently at. My inventory isn't heavily weighted in toned morgans or toned commems. Those may comprise 1/10th of my inventory.
Every investor knows that diversification is the key to not taking major losses (it's also the key to average returns). But, one thing for sure with regard to the long run. We're all gonna end and coins and their values don't amount to a pile full of anything. What's really important is what comes (or doesn't come) afterwords.
In summation, yes, values are important but if your buying coins primarily for pleasure rather than investment, lower prices are not a bad thing. Just cost average down unless you're getting really old. In that case, give your coins to me before your un-appreciative children get them.
adrian