POLL: What's your limit?

MrEureka

Hypothetical: You have been looking for a certain coin for TEN years. You haven't even seen one, much less had the chance to buy one at any price. Based on what similar (and just as rare) coins have been selling for, you figure that when your coin shows up, you shouldn't have to pay more than $1000 for it, even at a competitive auction. Finally, the coin pops up at auction and you have every intention of buying the coin.

Baley

I voted for $2000, based upon this recent experience: Scarce 200+ year old coin I wanted very badly, trends is only $300 or so in the grade (low grade circ) but this was an original surface, unplayed with example in an old holder, there was some competition in the auction, and I ended up winning at $660.

Now, it's not a coin that only shows up every ten years, but you only see a couple offered in a year in ANY condition, and in higher grades they go for mid four to low five figures, and the vast majority have been played with. So I figured it's now or never and bid what it took to get the coin.

There ARE limits, though, and I wouldn't have gone all that much higher

MrEureka

Maybe this question isn't as hypothetical as I thought. I'd be curious to know if anyone here has had an experience like this, and if so, what was the coin and what did you do?

mrearlygold

A holed Higley at a stacks sale and I blew it.

Now I'd be happy to pay multiples.

Tom

mrearlygold

Oops wasn't a 1K coin but not all that much more ( 5K)

What about you Andy?

Tom

MrEureka

What about you Andy?

In the 80's, I collected a short but expensive series and I never backed off. Still, I was never really tested. I never had to pay much more than I thought I should have to pay.

Since then, I've collected huge series of much cheaper coins. I let lots of things go when they get too pricey for me. There are still so many things I need that I know I'll have no trouble spending my money on something else later. But in twenty years, when my want list is much shorter, you will NOT want me as an underbidder.

Cratylus

To Everyone who answered "Whatever It Takes"...

Please send me your Want Lists so I can retire early.

Shamika

10 years is a long time to wait. Bite the bullet, you won't regret it.

magikbilly

I only regret coins I didn't buy.

Billy

DennisH

Not nearly enough choices were given; I'm past $2000 but "whatever it takes" implies the possibility of financial suicide.

tradedollarnut

I've been looking for an 1875 - P chopmarked trade dollar for 10 years... came close a few times but they always sold before I called. It should be worth between $750 and $1,000. One recently came up on ebay and I bid $2,001 and didn't get it. Could have gone higher but I figured there's a few of them out there ... one will come along eventually.

Kindof regret not going to $2,500...

Elcontador

Andy, this is a very personal decision. No coin out there "has my name on it." If someone wants to pay more for it than I do, it's theirs. Something that interests me always seems to turn up at the right price if I am patient enough.

Based on my life experiences, there are very few "must haves" (in my life). Though I love numismatics, it is not one of them.

dorkkarl

10 YEARS? there's NO LIMIT for me then. in fact, this has happened. i've got several coins where i'm sure i paid 10x, 20x OR MORE of what would be considered "reasonable" at the time.

so yeah, i voted for the option which you so adroitly named after me....

K S

dthigpen

If I was waiting 10 years, I would say $2,000; however, on a whim in the heat of bidding, I'd probably blow through that limit if neccesary.

OKbustchaser

What dorkarl said. I would just put my paddle in the air and sigh.

Jim

alergar

I have to say $2000.00 because the most I have paid for a coin is $1999.50.
Graysheet for the coin is $3200.00 so think I made out ok !!!!