What's the biggest mistake you ever made NOT buying a coin?

MrEureka

What's the biggest mistake you ever made NOT buying a coin? What did you learn?

tradedollarnut

A blazing PCGS PF65 (Red) copper Gobrecht pattern - 1836 name under base! I saw it at a show and by the time I went back for it, it was sold.

I know where it is now, but it's unobtainable.

oreville

My story is almost legendary. I had the chance to buy the finest 1945-P FSB dime on the planet back in 1970 in New York City and thought $200 was too much, first time.......too stupid.

I turned down paying $300 in 1973. This time........ too poor.

In the intervening years I ended up hoarding MS-63FB, 64FB, and 65FB 1945-P's, all in PCGS holders because I became obsessed with that date. But it wan't enough. None of them replaced that first love in 1970.

In 1996, Jay Parrino, The Mint somehow gets ahold of a 1945-P NGC MS-67 FB dime. He wanted $11,000. He was very firm, price wise. I half heartedly took it and was stunned to see that it was the same exact dime I saw in 1970 and 1973. I was not going to invent double stupidity. I bought it in 1997.

I said to my daughter then 11 years old...someday this may pay for your College....

Now my daughter is now 17 and needs money for College. You think I will be stupid enough to let this coin go NOW?????????

I suffered too many years between 1973 through 1997 to go through this all over again!!!!

Edited for stupid speeling mistakes.

Fairlaneman

1916D Merc Dime about 2 years ago. The Dealer was being square with me but I was just a Putz.

Ken

barberlover

in 2000 at the central states show i saw an absulutyly stunning p.c.g.s. 64 1799 bust dollar that the dealer who had it wanted 56,000 for and i started ooking for someone at the show to buy my collection to help pay to buy this coin, but someone i know said "Les, why would you want to sell your entire collection to own one coin?]

I listened to him!!!!!!!!

Can anyne tell me what a pq m.s. 64 bust dollar would be worth now?

mbbiker

I passed on a 1916-D merc in FR-2. It was the only coin i needed to finish my merc set (still is the only one i don't have) the shop was closing up for good and just wanted to get rid of all their coins. Said they would give it to me for $100.00 I passed because i thought 100 for a FR coin was way to much, shows what i know

njcoincrank

In 1979 I had the chance to buy a superb 1878 $3 from Charles E. Hayes (from Rolla, Missouri at the time) for $3200.00.

I didn't.

He sold it to either Tom Noe or Marty Haber at the very same show for $4000.00

Years later it was certified MS-67 by PCGS and sold for around $150,000.

It was a moose way back when, it was a moose in a slab, and I'm sure it's still a moose.

njcoincrank

oreville

It is depressing to read this thread!!

MrEureka

Because I don't want to piss off the current owner, I'm not going to tell you what the coin is, but I'll tell you why I regret not buying it. I was offered the coin for 32K. It had nice crusty original toning, like a late 19th century silver type coin should have. I graded it 63 +. I had never seen one quite as nice and was tempted to buy it and put it away. CDN bid was 20K or so and I couldn't help but counter in the high 20's. The seller passed and sold it to - you guessed it - a coin doctor. The coin is now dull greyish white and in a 64 holder. The coin is now, to me, dead and gone. I wouldn't pay a nickel for it. (Well, maybe.) Anyway, I should have bought it, kept it and protected it. Shame on me.

roadrunner

In 1975 I had targeted a pristine gem 1867-s quarter being sold by Stacks in the James Stack sale. I knew this was a vastly underrated date just by auction appearances. I didn't know jack back then and actually bid blind on the coin because I got to the sale late. I was determined to blow away the competition and pay 3x RED BOOK ($300 RB in 1975 or UNC). Well at $900 I was blown out of the water and the coin went to Kleinman for $1800. Was he nuts??
A superb gem 1901-s quarter went for $5500 in the sale too.

Within 2 years that coin was trading hands for over $5000. I finally saw it close up then (Corky Vena owned it) and it was a superb orig white gem. Jim Halperin ended up with it. 3 years later he sells it as part of the NERCA RCF 1 sale and it fetches $30,000 as an MS65! Figuring this one is gone forever I just let time lapse.

In 1986 the coin shows again at Auction '86 and is buyable at under
$10K. This time it doesn't get away. It took 11 years and cost me
over 5x the orig price. Turned down $45,000 for it in 1989 (dumb mistake). Still have the coin though (NGC MS67) and it's still the only gem of the date known and 1 of only 2 UNCs graded above MS62 and the only UNC at NGC. Finest known by 3 points.

roadrunner

roadrunner

Oops....what did I learn on the quarter? Like Oreville, I bought the darn coin next time around.

roadrunner

EVillageProwler

My biggest mistake occured when I was just getting into Seated dollars in a big way. I saw a gorgeous 1866 dollar in an old PCGS MS63 holder. The dealer was asking not too much more than sheet. He even lowered his price slightly. I still walked away. I wanted to think about it, but forgot to ask him to hold it for 15 minutes.

I decided to buy it about 10 minutes later, and I go running back. The coin was gone. Sold at the original asking price!!!

I was soooooo stupid.

And, a couple of years later, I thought I didn't have a chance at the Hayes 1866 specimen (in the Sotheby's sale). I didn't bid. Unfortunately, it sold at a price that was less than I was willing to pay!

EVP

tradedollarnut

EVP - you can still buy the Hayes 1866. I just saw it at LB for a mere $125k!

EVillageProwler

Too rich for my blood. At its last auction appearance, it sold for perhaps a bit under $50K. I was willing to go to $60K for the coin. Oh, well. Stupid me.

EVP

MrEureka

Speaking of 1866 dollars, does anyone know what happened to the one from the Christies NY sale in the late eighties? Same sale had a matching quarter and half...

Android

I passed on a 1916 D merc in NGC AU58 that my local dealer had that he would have sold to me at 10% over grey sheet bid. A beautiful and correctly graded original example. I had just finished a "spending spree" on some other coins I needed and was feeling drained, so I passed. Really dumb move on my part. It's tough finding 16D's like that.

Andy

zep

I would not call it a "big mistake" but I passed on the Eliasberg 1797 Dollar so a friend could buy it.

BigD5

I passed on a rainbow toned three cent nickel. Pcgs ms/64, or 5, can't remember. Dealer wanted double bid, or a similar "astronomic" amount..........passed on the coin, went back later in the show to counter offer, and the coin was sold. I haven't seen another example with that eye appeal for "astronomic" money since. I put astronomic in quotations because that was my initial feeling whent he dealer quoted me a price. I figured three cent nickels are in demand about as much as pet rocks. I wanted a "more reasonable" price. I was a moron for not buying the coin. Plain and simple.

I learned that if you like the coin, buy it.

airplanenut

I don't remember perfectly, but my dealer had a 3 cent nickel... frosty so it might have been proof... probably cam... $15 and I didn't have the money on me and didn't want to get rid of the rest of my stuff...

Lessons learned:
1- don't be stupid
2- carry more money
3- reserve what you like

RKKay

I could have bought the Faraday J-1593 in 2001.

boiler78

What he said!

EVillageProwler

I would not call it a "big mistake" but I passed on the Eliasberg 1797 Dollar so a friend could buy it.

Zep,

Which one? BB-72? If so, I know where it is.

EVP

njcoincrank

RKKay,

Did you see my post regarding J-115 and J-116?

njcoincrank

zep

EVP,
Actually it was BB-71.

EVillageProwler

Ahhh... Eliasberg's BB-71 specimen was very, VERY nice!!!

EVP

IrishMike

Several years ago I saw a proof 1892 Columbian in a dealers case. It was one of the most attractive toned coins that I have ever seen. I really wanted it, but a combination of the price and not knowing how toned coins would fair over time ignited a little voice that told me to pass. I see the coin today is in a cameo proof 68* holder. The lessened I learned was simple, if the coin knocks you out, it probably will others.

onlylincolns

I should have purchased the 1c 1943-D copper for 79K when I had the chance...

Lakesammman

A IHC 1864-L P64R, the only red speciman.

When I previewed the coin via mail, it was raw and had been rejected as AT by PCGS. When the sale occured in Baltimore, it had been certified 64R and I didn't know it. I was the underbidder on the phone thinking I was bidding on a raw, potentially AT/uncertifiable coin, the folks at the show bidding on a PCGS 64R. It sold for around 68K.

The coin recently sold for 168K.

What did I learn?? Go to the shows in person.

MadMonk

Full set of gemmy bu silver washingtons, wildly and concentrically toned....Kick myself at least once a week.

I guess some day I'll get over it...................I hope.

Baldy

I guess mine would be back at the ANA that was held in St Louis a 1917 matte proof buffalo nickle was being offered in one of the auctions which if memory serves me was authenticated by Walter Breen was being sold. I wanted this to had to my #1 set of (1913-1916) matte proffs. I went double what I had originally decided on going but still lost. does anyone know if a 1917 matte proof has ever been proven to exist or sold besided that one? I later sold that set to Jim Halperin when he was at New England Rare coins for $15,000.

Fred

MrEureka

does anyone know if a 1917 matte proof has ever been proven to exist

I've handled a couple of the pieces that Walter had been authenticating as proofs. I've seen about six of them. In my opinion, they're all kind of iffy, including the one you mentioned. I've only seen one that I considered a stone cold proof, at the 1982 ANA. The fabric was completely different than the others. As far as I know, it has not traded hands since then. (Sorry, no, I can't get it for you.)

I will tell you a funny story about one of the 17's I did handle. It was an unattributed gem, in a two-piece lot in a B&R sale, back in the mid eighties. I paid maybe $500 for the lot and reauctioned the 17 for big money, possibly through MidAmerican. (There may have been a full page color plate of the coin, if memory serves me. Anyone know?)

The funny thing is that the other coin in the B&R lot was a cleaned 27-S with an added mintmark! No, I didn't have the nerve to try to return the 27-S.

LanLord

I actually just found out the "impact" of this yesterday.

For years I have been holding on to a bunch of bullion gold and it really hasn't done much (until recently).

I had been intending for several years to trade it in for a 1901s quarter. If I had done that prior to about Oct - Dec 2002, I would have been way ahead of the game. These coins took a huge jump in late 2002. As it is, I just picked one up, for a trade in bullion gold, but it cost me more of that gold to do so.

However, the knowledge of ownership of such a coin, over powers the "wishing" that I had done it last year.

jeffnpcb

A 1916-D in F or better from a show for $525!

Veep

A few years ago, I was looking for a 1932-D quarter in MS65 when I saw a clean, white one on David Lawrence's website. Sheet at the time was about $5,500. I discussed the Lawrence coin with John Fiegenbaum and he told me it was a consignment and the owner wanted a firm $7,500. I laughed and openly wondered about the consignor's mental state. Today, you'd be hard pressed to buy that coin for even 10% over today's $12,500 Ask price.

EVillageProwler

I've handled a couple of the pieces that Walter had been authenticating as proofs.

I've heard it said that, after a while, Mr. Breen would apply his florid signature to any authenticating document for a fee. I've never met the man, so I openly admit that this is at best 2nd-hand information.

EVP

gsaguy

I've passed on a couple of beautifully toned pieces that today I wish I had in my collection.

Both were offered to me back in the late 1980's. One was a fantastically toned pattern (I don't even recall its denomination although it was probably a 50 cent piece) that was offered to me by a collector buddy. The other was a beautifully toned German proof piece in the possession of dealer Michael Annis.

Looking back, I know that had I bought those pieces I'd still own them today.

GSAGUY

cladking

I passed on a 1982-NMM dime in solid MS-65+ (And about the best strike possible)
in 1983 because I already had one for my collection. The same coin appeared again
at a coin show at a slightly lower price in '86 and I passed again. It would go for far
more now so I'd probably pass yet again and kick myself in ten years when the cur-
rent price looks cheap.

MrEureka

I've heard it said that, after a while, Mr. Breen would apply his florid signature to any authenticating document for a fee. I've never met the man, so I openly admit that this is at best 2nd-hand information.

Not really. My experience with Walter led me to believe that he would authenticate anything that he could justify authenticating. So in my opinion, he was loose (don't go there!), but not dishonest.

That said, the 1917 nickels that he authenticated were substantially different than all other business strikes that I have seen. They just weren't anywhere near as convincing as the one piece I saw in 1982.