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What do you do when offered a coin you want but can't afford??

LakesammmanLakesammman Posts: 17,376 ✭✭✭✭✭
in U.S. Coin Forum
Do you:

Pass?
Offer a lay-away?
Trade in coins?
Modified lay-away - 90 days, then try to sell coins??
Open a line of credit?
Extend your LOC?
VISA?
Mortgage the house/rental?

Inquiring minds want to know.....examples appreciatedimageimage
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.

Comments

  • mgoodm3mgoodm3 Posts: 17,497 ✭✭✭
    Nobody's ever offered me a coin, so I wouldn't know.
    coinimaging.com/my photography articles Check out the new macro lens testing section
  • fcloudfcloud Posts: 12,133 ✭✭✭✭
    politly pass

    President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay

  • bozboz Posts: 1,405 ✭
    Any or all, except pass. Never pass
    The great use of life is to spend it on something that will outlast it--James Truslow Adams
  • krankykranky Posts: 8,709 ✭✭✭
    Oh, I just pass. There's only so much in the coin fund, and that's all there is. I'd consider selling/trading, but I don't have much luck in that area.

    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.

  • nederveitnederveit Posts: 1,038 ✭✭✭
    I agree, never pass! Dig deep, have a garage sale, sell coins that aren't nearly as nice (I don't recommend going into debt though). image
  • EvilMCTEvilMCT Posts: 799 ✭✭✭
    Find a way if I really want it. Do I really need all of this plasma?image

    Ken
    my knuckles, they bleed, on your front door
  • melikecoinsmelikecoins Posts: 1,154 ✭✭
    I look at it.

    Glen
    I don't buy slabs I make them
  • tjkilliantjkillian Posts: 5,578 ✭✭✭
    It all depends upon how much I like the coin and how much over my budget. I saw an awesome 1859 half dollar in a PCGS MS-67 holder for $30,000. That was about $29,000 more than I could afford. I just looked at it. Another time I saw a 1875-S half dollar for $1300.00. I had to have it. I extended myself just a tad and later sold a couple of coins to make up the difference.

    Tom

    P.S. the 1875-S half is now my icon.
    Tom

  • marcalan84marcalan84 Posts: 310
    I just buy it...and then figure out what to do. I like the pressure!
    Marc
  • mercurynutmercurynut Posts: 3,207
    Find a way to pay for it w/o going into debt or pass.
  • jbstevenjbsteven Posts: 6,178 ✭
    I usually cut back on the food for the family. They get a little hungry but at least I have a few cool coins.


    imageimage
  • LucyBopLucyBop Posts: 14,001 ✭✭✭
    the poor little ol HepKitty can't afford a thing. image
    imageBe Bop A Lula!!
    "Senorita HepKitty"
    "I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If the coin is a deal....then I'll do whatever. Sometimes you get one chance....but most of the time....the coin really never measures up or there others to take its place when you do have the $$

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BearBear Posts: 18,953 ✭✭✭
    Borrow the money from Lucy?
    There once was a place called
    Camelotimage
  • BoomBoom Posts: 10,165 ✭
    If the deal is legit and the coin PQ

    with room for an out -here's what I do

    Pull the trigger and GO FOR IT!!!!image

    wow...I'm a poet and dont even know it!image
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image
  • SunnywoodSunnywood Posts: 2,683 ✭
    tjkillian,

    I'm glad you didn't pay $30,000 for that 1859 half. I'm pretty sure I know the coin, and I remember how it started at one dealer at about $15,000 or $16,000, and got traded, consigned, flipped, sent out on memo, etc etc etc from one dealer to the next, with ever increasing prices spiraling upwards ... funny how some coins go 'round and 'round, from speculator to dealer to vest pocket dealer to collector-turned-amateur-dealer ... sometimes makes me wonder if anyone is a REAL collector and just keeps the coins ... anyway, glad you didn't fall into the vortex of escalating dealer margins and hyped up prices ...

    Sunnywood
    image

    Sunnywood's Rainbow-Toned Morgans (Retired)

    Sunnywood's Barber Quarters (Retired)
  • BurritoGrandeBurritoGrande Posts: 177
    I have done almost all of the above. I say, just buy it and figure out the details later!



    Hello, my name is BurrioGrande, and it has been three days since I bought my last coin...
    imageimageimage

    imageimage
  • XpipedreamRXpipedreamR Posts: 8,059 ✭✭
    Pass? check!
    Offer a lay-away? check!
    Trade in coins? check!
    Modified lay-away - 90 days, then try to sell coins?? check!
    Open a line of credit?
    Extend your LOC?
    VISA? check!
    Mortgage the house/rental?


    image

  • quattrocoinsquattrocoins Posts: 1,881
    Sell a kidney on eBay!
    Heck, I don't need but one! image
    FULL Heads RULE!
  • BoomBoom Posts: 10,165 ✭
    If it's a Quattrocoin or from manofcoins -I just buy it and eat Potted Meat and Honey Buns for a month!image
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image
  • BladeBlade Posts: 1,744 ✭
    Pass, but show appreciation for the offer.
    Tom

    NOTE: No trees were killed in the sending of this message. However, a large number of electrons were terribly inconvenienced.

    Type collector since 1981
    Current focus 1855 date type set
  • quattrocoinsquattrocoins Posts: 1,881
    Boom,

    I'll send you some squirrel and artichokes with the next one! image
    FULL Heads RULE!
  • paul43438paul43438 Posts: 44 ✭
    Depends, but mostly I'd pass. There is always the next deal, always. image
    My Collection of National Notes
    "We are what we pretend to be, so we must be careful about what we pretend to be."
  • BoomBoom Posts: 10,165 ✭
    fantastic...I LOVE SQUIRREL!! For real.image I can't wait till I get to sell you something!image

    OOOOHH - I just noticed- my 1000th post is fast approaching.

    Looks like I'll be doing a giveaway soon!
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image
  • ElcontadorElcontador Posts: 7,522 ✭✭✭✭✭
    Blade has the right idea. I've never seen a coin that "had my name on it." There will be others. Besides, if it's a pop 1 coin, I can't afford it anyway.

    Just an observation: if you're not a patient collector, you're going to get screwed big time.
    "Vou invadir o Nordeste,
    "Seu cabra da peste,
    "Sou Mangueira......."
  • BoomBoom Posts: 10,165 ✭
    Hey Jeff...what do you collect-got a Registry Set?
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image
  • LakesammmanLakesammman Posts: 17,376 ✭✭✭✭✭
    Hate to admit it but I've done ALL of the above. imageimage

    The longest lay-away was a 1 year deal for a coin I HAD to have. Made monthly payments until paid off. Still grin every time I see the coin, a beautiful proof-like MS coin, one of about 20 known. imageimage

    There aren't many times I can recall passing, though there are a few, and I regret every oneimageimage
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • K6AZK6AZ Posts: 9,295 ✭
    In the past, I have pulled the trigger even though the coins didn't fit in my budget at the time. I learned the hard way when I was getting hit for 21% on the plastic on several thousand dollars. These days, if I don't have the cash, and don't think I'll have the cash by time the CC shows up, I pass.
  • BoomBoom Posts: 10,165 ✭
    Wise words you little devil!image

    21%.....THAT'S EXTORTION-LOAN SHARKING!image
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image
  • foodudefoodude Posts: 3,568 ✭✭✭
    If it's a good deal, cut someone else in.
    Greg Allen Coins, LLC Show Schedule: https://forums.collectors.com/discussion/573044/our-show-schedule-updated-10-2-16 Authorized dealer for NGC, PCGS, CAC, and QA. Member of PNG, RTT (Founding Platinum Member), FUN, MSNS, and NCBA (formerly ICTA); Life Member of ANA and CSNS. NCBA Board member. "GA3" on CCE.
  • joeyukjoeyuk Posts: 3,282
    I've done a couple of trades. I've sold some stuff and also did lay away. It is hard to pass on thing you do not see often.
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    Borrow money from Lucy and Bear!
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • BAJJERFANBAJJERFAN Posts: 31,075 ✭✭✭✭✭
    Buy a Democrat for what he is worth and sell him for what he thinks he is worth. image
    theknowitalltroll;
  • BarryBarry Posts: 10,100 ✭✭✭
    Pass. Gotta be sensible and maintain reality. It's only a coin.
  • darktonedarktone Posts: 8,437 ✭✭✭
    Over the years I have built up a coin fund that I buy coins with that I can make money on and on occasion I have borrowed from this fund for a coin that goes in my collection.image mike
  • BustmanBustman Posts: 1,911 ✭
    Negotiate terms, 15-30 days, then sell an older coin or two, to help fund the new one.
  • TrimeTrime Posts: 1,863 ✭✭✭
    Depends on lots of factors:
    How special is the coin to me?
    How confident I am about non coin funds.
    My mood and impulse at the time
    My wife's mood at the time.
    Unless this coin is really at the top of my list or the moon, planets and stars are in allignment, I pass.
    Trime
  • BAJJERFANBAJJERFAN Posts: 31,075 ✭✭✭✭✭
    Assuming that one chose to sell off other coins would you sell one $5000 coin or 10 of your $500 coins?
    theknowitalltroll;
  • MSD61MSD61 Posts: 3,382 ✭
    Pass, the instant gratification is not worth it in the long run financiallyimage
    Omnicoin
  • toothpullertoothpuller Posts: 600 ✭


    Pass. It's a hobby and only discretionary income should be allocated for purchases. There will always be another coin when more funds are available. image
  • LanLordLanLord Posts: 11,714 ✭✭✭✭✭
    liquidate stock options.

    Did that for a 1796 quarter and a 1793 chain cent. The stock has languished, the coins have increased in value. For the time being I think I made a good decision, although I am not sure my wife would agree.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭


    << <i>I usually cut back on the food for the family. They get a little hungry but at least I have a few cool coins.


    imageimage >>



    Hahahahahaha! image

    TP

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • NeptuneNeptune Posts: 2,221
    PASS. Gotta keep priorities straight! image
  • RobgettyRobgetty Posts: 1,112
    My vote is (reluctantly) to pass. If you buy that one when you can't
    afford it, the problem is what do you do when the next "gotta have"
    coin shows up 3 weeks later, etc.
    Robert Getty - Lifetime project to complete the finest collection of 1872 dated coins.
  • BoomBoom Posts: 10,165 ✭
    Life itself is a gamble. There are no guarantees, There is no guarantee that your heart will beat the next beat...

    that you will draw your next breath. Recall 9-11...how many souls, just another day on the job-even had the

    vaguest thought on their way to work, that this day would be their last and that two beautiful sky scrapers

    would crumble and cease to be. It's still surreal...almost like a dream!


    There is no guarantee that you will wake up tomorrow. Luck is when preperation meets opportunity. As monster-

    man recently said, "You have to know when to pull the trigger. If you snooze-you lose!" I particularly liked his


    sharing the incident when he found an interesting piece at a show and told the dealer, "I'll think about it." By the

    time he thought about it and returned for it-the coin was gone , just having been sold for $30,000 more than

    he could have paid for it not a half hour earlier! "That could have been my $30,000 profit", he exclaimed.

    Sure we should behave rationally yet there are times when true opportunity knocks and it may NEVER present

    itself again. Read the book and study what you seek....your "Game".

    There is a plaque in my office and the last paragraph is so very true. It states the following:

    " Upon the plains of hesitation, bleached the bones of countless millions who, on the threshold of victory, sat

    down to wait.....and waiting they died!"

    We only go around once guys and gals therefore live life to the fullest and follow your instincts and you'll have

    no regrets because you will have been true to yourself. If it appeals to you, you may believe that somewhere

    out there is someone else that it will appeal to as well! "Think long-think WRONG !" JMHOimage Know yourselves and

    and to thine own selves be true. Big time results many times require big time, daring moves. If you do what your

    instincts tell you to do-how can there be any regret? If David Hall or Donald Trump et al played it safe-would they

    be the men they are today...would there be a PCGS?? Yeah-we only go around once...if you're scared, welcome to a

    mundane existence. He who hesitates is lost! If your instinct says "Go", them dammit, GO FOR IT.image
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image
  • MacCoinMacCoin Posts: 2,544 ✭✭
    I have used layaway many times. but I paying for a new boiler and range so until May its a pass on by.
    image


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

    Always looking for nice type coins

    my local dealer
  • ElectricEyeElectricEye Posts: 2,354
    pm me lakey and I'll email it to ya ~ seems to be a snafu brewing with this pic
  • LakesammmanLakesammman Posts: 17,376 ✭✭✭✭✭
    I've had a hard time in the past staying focused on my collecting goals. Lately, I've been alot tougher, realizing that the junk I buy keeps me from getting the really nice stuff down the road. But, if it's a coin that fits in my goals..........the LOC on the house is under 6% and the interest is tax deductibleimageimage

    Electric Eye - what did we miss??
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • Prometheus183Prometheus183 Posts: 385
    If it's a coin like the Barber that Anaconda was offering a short time ago on PayBay,... a prime proof Barber (i forget the year, and forced myself to do so because i can't afford it anyway), perhaps take out a construction loan and tell the bank the foundation is already slabbed! imageimageimage

    Craig
    The Rede we live by: If it harms none, do what you will.
    image
  • ElectricEyeElectricEye Posts: 2,354

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