Poll: Do you purchase coins in auction for over $1000...
RYK
Posts: 35,797 ✭✭✭✭✭
without seeing the coin or having a trusted representative (collector friend or dealer) view the coin in person?
Danger, Will Robinson!
And if so, what has been your experience? In the past, when I was stupid and bold, I ended up with a lot of crappy coins this way. Now, I am just stupid and occasionally bid on expensive auction coins just to remind myself why I am no longer bold.
Danger, Will Robinson!
And if so, what has been your experience? In the past, when I was stupid and bold, I ended up with a lot of crappy coins this way. Now, I am just stupid and occasionally bid on expensive auction coins just to remind myself why I am no longer bold.
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Comments
what i am worrying more about lately, is buying a > 1000
dollar coin and not liking it.
then return it and ask to view another. then return it
and ask to view another... :-/
that is the problem with really rare coins.
you want to get your money's worth when you spend 2500.
you do not want a slab that says xf45 when your coin is
a xf40 seven days a week.
i am not surprised at all. the amount of people talking about
a dealer viewing there coins is about 3 in 10.
Likewise.
Rainbow Stars
I have also had the coins sent to me well in advance of the auction...that's the optimum situation.
I bought one sight unseen in my early days and was disappointed...I traded it for a better coin for a very small price months later.
The results, at this time, do not suprise me at all
Ken
Well, there's at least one vote that shouldn't be there [and most likely more]
I only read the title of the thread and then voted too quickly before reading the first post or the poll title.
how much does the coin have to value before you do consider
dropping hundreds of dollars on sets of eyes?
I only read the title of the thread and then voted too quickly before reading the first post or the poll title.
Sign in as two of your alts, one to "cancel" your previous vote and one to register the correct vote.
I was surprised to see you vote the way you did.
#5. Thou shalt not bid in auction sight unseen.
<< <i>I would never bother 3 people to go look at a $1000 coin for me, I would think they had better things to do
how much does the coin have to value before you do consider
dropping hundreds of dollars on sets of eyes? >>
It depends how undervalued I think the coin is. I bought a coin off the internet image for 15700 and turned down a 20,000+ profit on it the other day-------------------BigE
Bought this nice PCGS 62 sight unseen from the Heritage FUN auction a couple years ago. Had friend of a friend type info that it would probly go for 63 money, which it did.
Got this > $1,000 95-O PCGS 53 offa eBay. Not a really great buy but not a screwjob either.
Picked up this nice PCGS 63 green label 96-S BEFORE it got hot and could easily sell it for more than twice what I paid I think.
So yeah, I have rolled the dice a few times and so far I'm doin ok.
Bought one of my favorite patterns, a J211 in PCGS P66 pop. 1/0. Decided to trust PCGS on that one.
Bought a 1856 FE cent, PCGS MS64. It turned out to be a nice coin.
to screw them sight unseen.
it is almost like that was the original purpose of the outfit?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I do it for fun. I would not stake my $$$ on it.
<< <i>I find that I can buy coins sight-unseen and more often than not make money, but I've never bought a sight-unseen coin that I loved enough to keep in my collection. >>
Bingo. Although I tend to play more in the $100 - $1,000 range at this kind of thing, this has also been my experience. I can only think of one exception, an absolutely drop-dead gorgeous Morgan I got off of Teletrade very cheaply. The picture was terrible. I saw clues that it was probably nicer than it looked, and bought it thinking I'd flip it for a quick 20% return. I opened the package and -- dang! I'll never need another Morgan dollar.
Mercury