What is the difference between "strong money" and "overpaying" to YOU?

TheLiberator

Can you even qualify or quantify this? I am interested in what methods board members use to determine the difference. For me, I HAVE to know the coin well and I HAVE to have seen many in the same grade to know strong one versus an outrageously priced one. What about you all?

Wait! I've got it! When I buy it's strong money. When someone else buys it's overpaying!

haha!

JoyofCollecting

"You overpaid when you bought that coin....however, I'm offering you strong money today."

razorface1027

It all depends on my desire to own a particular specimen. Granted, there are some coins that people will pay moon money and not blink a eye. The "Difference between strong money and overpaying" is based on, IMO, the individual. I hope I'm reading your question correctly.

elwood

You left out MOON MONEY!!!

rays

Another Shiba!

relayer

Semantics

Catch22

Strong money to me would be winning an auction with heavy competition and participants. Overpaying is usually realized when you go to sell your favorite coin.

nwcs

Overpaying is when I regret what I spent for that particular coin the moment I get home. Strong money is what I feel I paid when I can still enjoy the coin even if it was costly. So far it's about a 4:1 ratio for me.

TheLiberator

<< <i>Overpaying is when I regret what I spent for that particular coin the moment I get home. Strong money is what I feel I paid when I can still enjoy the coin even if it was costly. So far it's about a 4:1 ratio for me. >>



That is an awesome way to put it! I think you nailed it!

ziggy29

<< <i>Overpaying is when I regret what I spent for that particular coin the moment I get home. Strong money is what I feel I paid when I can still enjoy the coin even if it was costly. So far it's about a 4:1 ratio for me. >>

Yep. This is pretty much what I was going to say, but you beat me to it. "Overpaying" is when I have buyer's remorse almost immediately after committing the money. When it's just "strong money," I may think about how much I paid but don't regret it at all.

Myqqy

To me the difference is about knowledge of the coin that you are buying- you overpay when you haven't done your research, and you've misgauged the amount of competition from other collectors. Paying strong money happens when you understand the true level of rarity and desireability that a coin has.....

cladking

Strong money is making an offer between the minimum and maximum amount at which
a specific sell is likely to accept. Over paying is offering more than this, especially if it's
caused by ignorance or the desire to make a point.

Blackhawk

Strong money is what it's called when a big named dealer buys a coin...when you buy it for the same money, it's known as overpaying. However if you take a loss and the dealer whom you've sold it to sells it to another nationally known dealer for a big profit, the dealer who bought it once again has paid "strong money". Get it now?

mhammerman

Over paying is when you get home with the coin and have to check your body parts to see if you lost something in the hunt. Strong money is when you know what you are looking at and you know that it is gonna take "strong money" to get it home and you look at it a month later and you still go...YEAH!!!

fcloud

If you have buyers remorse you overpaid. If there is no buyers remorse you paid stong money.

BAJJERFAN

<< <i>If you have buyers remorse you overpaid. If there is no buyers remorse you paid stong money. >>



Exactly Right!!

jdimmick

To me thats an easy question:

Strong money to me is paying a substantially higher price than normal for a coin becuase of one or several factors including: the quality, the rarity, PQness, not readily availble on the market, etc. A buyer willing to pay the extra to obtain a coin that he/she would like to aquire.

Overpaying to me means that the price paid was too much realative to what any other typical buyer would have paid for the same coin. A price that is a good distance ahead or higher than what the coin is actually worth on the market.

jim

RegistryCoin

When you have a buyer at a higher price, then it is "strong money". If you are the end user, without a thought to the value added to your set, but a thought to the emotional value, then you may be "overpaying".

Baley

To me, paying "Strong Money" means the piece cost me more than "sheet" or more than an "average" example of the coin would cost, but I feel confident that I could sell it for almost as much, if not more.

"Overpaying" to me means paying quite a bit more than I could get for the coin if trying to sell, either because I overbid in my zeal, or the coin was misrepresented (intentionally or unintentionally) by the seller.

edit: LoL! I responded to the initial post, without reading the replies; I see that I've basically echo'd the last 3 posters at least and maybe more great minds think alike i guess.

ElectricEye

Perception.

majorbigtime

Strong money may be very shrewed; overpaying is just plain stupid!

nolimitz

This is beyond strong money IMHO
1999 silver proof