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Would you sell your favorite coin if it went up in value by at least 100 % above what you paid?

barberloverbarberlover Posts: 2,228 ✭✭
in U.S. Coin Forum
My answer is if i end up needing the money to keep a roof over my family's head i would whether the market was up or not.

But if economic circumstances don't end up forcing me to do so, then it would take "stupid money" like 10 x bid to get me to part with my favorite coin.

There sure are alot of pretty icon coins on this forum, the question is if you paid 3,000 would you sell it for 6,000 or if 10,000 would you sell it for 20,000 etc... Les

The President claims he didn't lie about taxes for those earning less then $250,000 a year with public mandated health insurance yet his own justice department has said they will use the right of the government to tax when the states appeals go to court.

Comments

  • CarlWohlforthCarlWohlforth Posts: 11,074 ✭
    I think it matters how fast it went up in value. I bought a proof Buffalo nickel 6 years ago
    <<<<<<<
    and it has doubled since then. It is not for sale. It might not even be my favorite coin anymore, but we sure do like it.
    Carl's Coins website w/ links to Carl's auctions
  • ccrdragonccrdragon Posts: 2,697 ✭
    Like barberlover it depends on the circumstances. If it were a matter of keeping a roof over the family or putting food on the table, then absolutely I would sell the coins (regardless of the market).

    If it were not such an emergency, then probably not (unless it were going for REALLY, REALLY, REALLY stupid money image)
    Cecil
    Total Copper Nutcase - African, British Ships, Channel Islands!!!
    'Do not meddle in the affairs of dragons, for you are crunchy and taste good with ketchup'
  • MadMonkMadMonk Posts: 3,743 ✭
    In a New York Second!
    Today's mighty oak is just yesterday's nut that held its ground.
  • krankykranky Posts: 8,709 ✭✭✭
    I will say no, unless economic need forced me to. I don't really follow the prices of coins I already own so unless it was talked about here or in CW or NN I probably wouldn't even know which coins are going up or down.

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • dorkkarldorkkarl Posts: 12,691 ✭✭✭
    no, but it's only a $2 coin anyway

    K S
  • BearBear Posts: 18,953 ✭✭✭
    I guess I would sell the coin if something became available that I liked better.
    There once was a place called
    Camelotimage
  • satootokosatootoko Posts: 2,720 ✭


    << <i>I guess I would sell the coin if something became available that I liked better. >>

    AND I couldn't afford the new one without making the sale!
    Roy


    image
  • UncleJoeUncleJoe Posts: 2,544 ✭✭✭
    Yes. I have sold coins for much less of a mark-up.

    (I guess I don't get emotionally attached to any one coin)

    Joe.
  • orevilleoreville Posts: 12,081 ✭✭✭✭✭
    No. Selling your favorite coin should be based on when you no longer desire the coin for your collection or when you want something for your collection even more or unfortunately when you need to sell it for financial reasons.

    A Collectors Universe poster since 1997!
  • KimKim Posts: 104
    I have one coin in my collection that will never be for sale by me. It carries my maiden name in the Pedigree at NGC, and I adore it. No money would get me to part with it. I have other coins in my collection that ARE my favorites, because of the of investment potential. My collection paid for my college degrees, and saved me oodles on my home loans! I am in the process of having my dealer sell my Half Dime registery set. The time is right in my life...that should be what dictates the sale of our dear coins.
    K

    Life is not measured by the number of breaths we take, but by the
    moments that take our breath away.
  • nwcsnwcs Posts: 13,386 ✭✭✭
    I already have that. I paid $125 for a mint set and got PCGS grades of MS66 (and FL) for the 1955D 25C and 1955 50C. Ain't sold them yet!
    Blog and Pics
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>Would you sell your favorite coin if it went up in value by at least 100 % above what you paid? >>



    No. To do so would be incredibly stupid since my favorite coin has a market value many, many times what I paid for it. image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • mikeschmidtmikeschmidt Posts: 5,756 ✭✭✭
    Typically, 300% over "value" is my threshold -- I think it is rather hard to make a decision about some arbitrary percentage like 100% without considering when and what you paid for it.

    If I could flip in a few months for 100% -- no worries. But if I've had my favorite for a few years -- circumstances often have changed the value, so original price paid is no longer relevant
    I am actively buying MIKE SCHMIDT gem mint baseball cards. Also looking for any 19th century cabinets of Philadephia Nationals. Please PM with additional details.
  • DeepCoinDeepCoin Posts: 2,781 ✭✭✭
    I would not sell my favorite coin, but then it is a 1865 3CN in XF that was given to me by my aunt and is not worth very much, maby $35 +/-.

    The question did NOT ask if I would sell my most valuable coin if its value doubled. That is a different answer, but for now it would have to be no (given no economic circumstances requiring a cash inflow) as it is the only pop 1/0 coin I own and is in my main collecting area of interest.
    Retired United States Mint guy, now working on an Everyman Type Set.
  • VeepVeep Posts: 1,437 ✭✭✭✭
    Yes, I would sell and have numerous times. In fact, 100% appreciation is the threshold that I use when deciding to sell one of my "investments." With the buy/sell spread, it doesn't make sense to me to sell any sooner. These are typically the most expensive coins that I own.

    The coins that I collect are lower value and wouldn't mean beans if they doubled in price. Those I'd keep regardless.
    "Let me tell ya Bud, you can buy junk anytime!"
  • michaelmichael Posts: 9,524 ✭✭
    it depends.....................................

    on many factors


    sincerely michael
  • DeadhorseDeadhorse Posts: 3,720 ✭
    If I paid near market price.........yes, immediately. I would then go find another "favorite" coin.

    If it was one of my steals, where I only paid 10 to 50% of market value, of course not.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • relayerrelayer Posts: 10,570 ✭

    Yes - that's why it would be my favorite
    image
    My posts viewed image times
    since 8/1/6
  • merz2merz2 Posts: 2,474 ✭
    I have coins that are worth 10x's bid,which is way more than I paid.I wouldn'y sell unless I was in dire finacial straights.
    Don
    Registry 1909-1958 Proof Lincolns
  • MacCoinMacCoin Posts: 2,544 ✭✭
    I find it hard to dump coins that aren't my favorites. my house is paid for my car will be paid off in 3 months I live in a 3 income family. so I don't see it happen.
    image


    I hate it when you see my post before I can edit the spelling.

    Always looking for nice type coins

    my local dealer
  • Dog97Dog97 Posts: 7,874 ✭✭✭
    Some of my favorite coins are white CC Morgans and they have no reason to double in value anytime soon so I would sell them for 100% in ½ a heartbeat.
    Change that we can believe in is that change which is 90% silver.

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