Ever Bid Too Much for One Because You Paid Too Little for Another?

Clankeye

Just wondering how some of you look at coin purchases (and sales for that matter).

I kind of look at them as one on going transaction.

Like yesterday, I won three coins at well under my max bid, and then had to pay a bit too much to win the fourth in a dog fight.

But I averaged the cost of all those coins out and I was comfortable with what I spent on them as viewed as a lot.

I try not to get too caught up in the numbers of coin collecting. There use to be a time where I obsessed over every dollar spent. I know you have to use your head, but I just don't have time for the aggravation anymore.

This is something I do for pleasure and interaction with my fellows. I'm not going to get tripped up by the pluses and minuses. What is given today, can be taken tomorrow and vice versa. When I think of what I have gotten out of my participation in this forum over the last year, how do you price that?

Clankeye

JohnZ

Very well said, Clankeye. I often pay more than Kruase value on darkside coins that I really want, but then I'm not the least bit interested in coins as an invesment. I collect purely for aesthtic reasons, whether artistic or historic. Still, I have managed to steal a few nice coins for much less than they should have sold for. I suppose it does all even out...

Clankeye

<< <i>I'm not the least bit interested in coins as an invesment. I collect purely for aesthtic reasons, whether artistic or historic >>



John--that sums it up for me quite nicely.

My return to collecting has just been such a positive experience for me a yardstick of money lost or gained just doesn't have any relevance anymore.

Clankeye

spinaker2000

It's called "cost averaging" and yes I do, esp. if it's from the same seller and you are saving on shipping cost. That's one major advantage of buying in lots or whole collections, only one shipping fee vs. per coin.

ajaan

Ever have momentary insanity and bid too much hoping you will get out bid?

I do.

spinaker2000

done that too.

ajaan

Scarce coin. I was checking his reserve and hit it.

Clankeye

<< <i>Ever have momentary insanity >>



Momentary insanity has become a permanent fixture in my life.


Clankeye

cosmicdebris

Coins??????????? Investment???????? That's what all those mutual funds in my 401K are for, right?

laurentyvan

Hell, I thought I was the only one using the weak justification of "cost averaging". Glad to see I'm not and I've gotten very comfortable with it;rationalization is a wonderful thing!
Ajaan, if you win that Vickie at that price it's still less than half of book

ajaan

<< <i>Ajaan, if you win that Vickie at that price it's still less than half of book >>


Not really Laurent. The $350 he lists as 'book' is C$350 which is about US$250. Have to be careful with some of these sellers who quote Charlton and neglect to mention Charlton is in Canadian Dollars.

Bruce

I don't think I do, at least I don't consciously do cost averaging. I am always trying for a bargain.

mongoose

I do a bit of cost averaging too, and sometimes end up with a nicer piece the second go around.

wybrit

Ever Bid Too Much for One Because You Paid Too Little for Another?

Absolutely. If I have a big hole to fill and the example is worth it, what the hey.

Cost averaging is just like buying a large lot from someone. Some of the coins you get won't be worth the money you paid, others are a steal. Pretty typical for my adventures at coin shows.

nwcs

Not really. I am generally good about not chasing an item. I kind of have this natural spidey sense that starts warning me if I'm going to waste money of something. Most of the time it's right. Sometimes I'll go down in the trenches, though, in a bid war. But it's rare that it's something that I will regret not getting. So far that has happened for one item that I lost because my internet connection and ebay was too slow.

ajaan

YES! I've been outbid. Whew!