Have you learned more from your rips or from your burials?

MrEureka

Any stories to back up your answer?

Lakesammman

Burials.

It's like at work. The rips are about things you know already - didn't learn a thing.

The burials are about the things you don't know and you learn something because of it.

I bought a IHC once, 64R, the guys virtually guaranteeing it would upgrade. Paid alot for it. Never upgraded, now I'm buried in it. It was early in my collecting career and it taught me 2 things.

1. Learn to grade for yourself.
2. Never again trust a dealer.

Russ

I never get any rips, and I try to forget my burials.

Russ, NCNE

roadrunner

I never seem to learn anything from my burials or my scores. Maybe that's my problem!! The scores tend to make you think you can do it again and again (you can't), and the burials make you afraid to take any risks (even when you should).

roadrunner

coinkat

good question... I think it depends on your level of interest in the coin and/or series that was either the rip or burial.

jdimmick

I totally concur with roadrunner, The few rips I have had, made me feel invincible to future buying mistakes, or that feeling I can do that again and make a bigger score.

and from my bumps in the road "burials" in the past have made me cautious, sometimes to the extent of missing out on a good deal.
One example I posted a year ago regarding a 1855-C $ being to cautious, I lost a chance to make 7000.00 on a coin.

jim

mgoodm3

The burials. You remember them because you are trying to avoid that situation of losing money again.

Mikey

wtf are you talking about?

Wondo

Burials are a painful lesson - never forget 'em.

RGL

Russ and no rips: You sir, are a liar ... and don't challenge my sources.

I don't put mega-bucks to risk like many, but I can sincerely say my burials have not been that expensive at all. The rips, on the other hand, encourage one to keep looking for the cherries by going through auction after auction after mind numbing auction until you come upon one... make a score and then the hunt starts anew.

MrEureka

wtf are you talking about?

Mikey - You're smart. I think you can figure it out. WTF do you think we're talking about?

Russ

<< <i>Russ and no rips: You sir, are a liar ... and don't challenge my sources. >>



Okay, so maybe I was fibbing a little bit. I haven't had any rips lately, though! Friggin' Marty keeps getting them all.

Russ, NCNE

Merc

Well, I have learned from both. I don't have any "rips" where I bought an expensive coin for nothing. I have bought several coins that rose in value over the past 5 years. That lets me know I am buying coins that are popular with others and have demand.

For a mistake, I learned don't try to improve a low end coin. I had an ugly MS65 DMPL morgan. It was a 65 with a clean cheek and few contact marks, but had haze and unattractive toning. I thought I could improve it. Well, it came back MS65 PL. I should have returned it nad not messed with an ugly coin.

ARCO

I have learned that the second I buy a coin for a rip I know it and there are no doubts. A rip for me is $50-$200 on a coin so nothing too big. Usually it is finding a coin undergraded, or the dealer doesn't specialize in the series and sells the coin at greysheet when the market is paying far more.

My icon coin is a nice rip, paid $69.00, would probably sell for $250.00+ raw or $300.00 holdered.

I have been buried enough to keep a small mortuary busy! Buying on impulse and not excercising patience and a not following certain buying disciplines that I have outlined for myself almost always result in a loss or problem coin.

I am learning.

Tyler

tradedollarnut

Since she only gloats on the burials, take a wild guess!

Hey! How come they're all burials.... grrrr.

relayer

All my buys are rips - until I try and sell them, then they become my burials. It's a well rounded education.