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Do you ever bid on coins that you have no idea of what they are worth?

relayerrelayer Posts: 10,570 ✭
in U.S. Coin Forum

And if so, how do you determine your bid?
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since 8/1/6

Comments

  • tlhoytlhoy Posts: 2,204
    NO
  • MercMerc Posts: 1,646 ✭✭
    Yes! I have made bids on coins when I have no idea how high they could go. Some coins, like very early proofs have mintages of 10 or less. Here a price guide is about worthless since the coins are auctioned so infrequently.
    Looking for a coin club in Maryland? Try:
    FrederickCoinClub
  • CameonutCameonut Posts: 7,293 ✭✭✭✭✭
    I do it on occasion but I wouldn't do it with serious money (<$500).

    Here is an auction I won last night that I did for fun. Pillar Dollar Set
    I know it is a reproduction, but looked interesting. Because it is a reproduction, it is not listed in Krause.

    Turns out I made a good buy. Went to a local show where there was a dealer that collected coins from Mexico. He knew exactly what I won and indicated that they typically sell for double what I paid.

    Sometimes you get lucky, sometimes you don't. Collect what you like and have fun...

    “In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson

    My digital cameo album 1950-64 Cameos - take a look!

  • 100proof1957100proof1957 Posts: 6,231 ✭
    Almost daily !
    image
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    Only a couple of times and stayed lower than the grading fees for the coin.
    image
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • CrackoutCrackout Posts: 1,368 ✭✭✭✭✭
    I've placed bids on coins that have Sheldon or Overton numbers that I didn't have reference to exactly what the attribution was - I figured if I won and the attribution was something very rare, then that would be my bonus over the "common" value of the coin. But so far no such luck - those who collect these seem to find the auctions (usually without any reference in the auction titles) and are willing to pay much more than me!
  • RGLRGL Posts: 3,784 ✭
    I try to only bid on coins that are worth more than I ultimately pay! image
    The Ludlow Collection (DCAM/CAM)
    The Ludlow Brilliant Collection (1938-64)

    image
  • AgMeAgMe Posts: 881
    Hello all,

    Yeah, but only for my "eye candy" hoard...

    pt 2: My bid: I factor in metal content, eye appeal and how it compares to other things I've bought. If it's something very unusual... then it depends how much "I have to have it" (but that happens very rarely).

    -g image
    I listen to your voice like it was music, [ y o u ' r e ] the song I want to know.

    image

    I'd give you the world, just because...

    Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
    and the blackness when the dream dies, of lovers, fools, adventurers and kings while I sip my wine and contemplate the Chi.
  • coincollector1989coincollector1989 Posts: 856
    No.
    Stacy

    Sleep well tonight for the 82nd Airborne Division is on point for the nation.
    AIRBORNE!
  • jdsinvajdsinva Posts: 1,508 ✭
    I bid on an 1809/6 half cent that was double struck and a real eye-catcher. A regular 1809/6 half cent in the grade of this coin is priced in the $50-60 range so I figured 4x regular price might get it. It ended up selling for over $2000. . .taught me a lesson, stick to Morgans.
    Jeff

    image

    Semper ubi sub ubi
  • gyocomgdgyocomgd Posts: 2,582 ✭✭✭
    On every no-reserve auction for decent coins, the bidding starts at $5.imageSo tons of people don't know what they're worth on that end, either.
    image

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