Is it piggish to own more than one example of a rare coin?

RYK

I own a rare coin that is desirable to many who collect the series and quite a few who do not. I felt fortunate enough to buy it about 18 months ago, and it is one of the favorite coins in my collection. Since I purchased mine, only one has appeared on the market in "collector grade" in the subsequent year and one half. Another will be available soon, and I am contemplating buying a second. I enjoy owning one, so two will be twice as enjoyable, maybe even four times as much.

With additional contemplation, I am having second thoughts. It is likely that some other collector (these exist in dealer inventories for no longer than a few nanoseconds) would probably also enjoy owning this coin, and if I were to purchase it, perhaps would never find a suitable piece. If a friend needed it to complete his set, I would certainly back off.

Should I buy what I want and disregard what is best for the greater collecting community? Or should I pass and let someone unknown to me have the same joy of ownership that I currently have. BTW, this is not an "investment" decision, though the coin by most standards (including my own) is expensive. This is all about pride of ownership.

goose3

if you like it, buy it.

I once owned something silly like 4 or 5 1955/1955 lincs at one time.

Petarded

RegistryCoin

Have no qualms. If you like coin, and desire aa dup., and the coin is offered to you at an acceptable price, gobble it up.

relayer

<< <i> >>

What are you Petarded or something?

RegistryCoin

Have no qualms. If you like the coin, and desire a dup., and the coin is offered to you at an acceptable price, gobble it up.

Petarded

Buy what you choose.... remember the post about a certain member losing a friend over a coin he outbid his friend on? Most in that thread said he should feel no remorse, as the friend wasnt much of a friend to let a coin come between them....the moral there is buy what you want...If the coin is desirable, and it makes you happy owning one, buy the second and be happier!

Petarded

Relayer...I must be...have no idea how that empty post happened.....

relayer

This thread seems to have some sort of warped echo going on

In answer to the original question is - No

291fifth

Maybe we should call you Virgil Brand?

goose3

I thought registrycoin was talking bra sizes in his first post....

RYK

Maybe we should call you Virgil Brand?

I recently read that Virgil Brand owned 22 1894 proof quarter eagles.

BAJJERFAN

NO!! its not piggish; its smart.

TwoSides2aCoin

the more you own, the less rare it is (quantitative)

so let's say you are a "one in a million kind of guy" but you live in china....(qualitative)

yer gonna have a thousand other guys just like you .... Whats the big deal ?

this is a math problem ~ Buy it

Stooge

<< <i>Maybe we should call you Virgil Brand? >>


Isn't this the guy who also collected as many Stellas as he could find, not to mention he had over (100) 1796 Quarters? I want to say I read that in my 100 greatest coins book.

Later, Paul.

mgoodm3

Don't just buy because it's rare, buy it if you like it.

Bochiman

I disagree....it IS piggish.
So, to assuage your guilty feelings, when you buy the 2nd one (you know you will!), just send me your first one, and in exchange, I will tell you to feel better about yourself.

RegistryCoin

<< <i>I thought registrycoin was talking bra sizes in his first post.... >>


Sorry for the dup. post. (AA??? isn't that for training purposes only?)

goose3

DDuh!

BlindedByEgo

Yes, but I have a solution.

Send me your extra.

ER

Be a pig, hoard them all you can.

Outhaul

For just about every UNC I own, I own a duplicate as a pocketpiece. I have one to look at, and one to enjoy...

nolimitz

This is all about pride of ownership.

Pride is one of the seven deadly sins..... your call

ER

Btw, what coin?

Reece

That a hard question RYK if it is that rare there might be somebody bidding quite strong against you, and therefore price it out of the market!! I know a collector that has the only 2 uncirculated examples of a very rare 0-mint date that I need, I have been upset with him for over two years, but he had every right to own the coins. The only way he will part with one coin is if I or someone else gets him a coin that he needs!! Not too many collectors are like you RYK that will back off a coin if you know that a friend needs it

RYK

Not too many collectors are like you RYK that will back off a coin if you know that a friend needs it



Btw, what coin?

TBA

CarsonCityGold

It depends on whether or not its one I need !

dwssws

if you want it and can afford it go for it!

Gemineye

You have my permission.........as long it isn't the one I'm looking for.....................................

GOLDGUY

Bid aggressively. Win or lose, you've increased the value of your current example.

mozin

<< <i>Bid aggressively. Win or lose, you've increased the value of your current example. >>


On Bustie varieties I especially like, I always bid them up to protect my holdings worth.

roadrunner

If you like them buy them. Whether for investment, protection or both. I had the unique opportunity to buy EVERY decent UNC specimen to hit the market on one key date 19th century coin over the past 18 years. And I did not take advantage of that because I wanted to let others have a shot. Each piece I let go sold for half of what I knew they were worth. Not only did I not protect my investment piece which was the finest known (67), but I could have owned the 3 understudies (64,64,62) and held the entire UNC population....and done so in secret w/o anyone knowing the wiser. Besides pride in ownership, I would have realized 5X my cost on the lower grade pieces as well in a few short years. I would have been in a position to dictate what the market was when it was time to sell. So this should have been about business and not being a good guy. Being a good guy can cost you. I had the knowledge and the opportunity on those pieces (and wanted to own them all). But some guy on my shoulder kept whispering "piggy" in my ear.

I suggest you follow through if you have any desire to own them all as well. It's not often one can get a chance to corner an entire market and know what the potential is.

roadrunner

Cladiator

<< <i>Is it piggish to own more than one example of a rare coin? >>

No.

21Walker

NO!

AgMe

If it's one I don't want, then go ahead and buy it... but if it is one I want, then may the blood of a thousand HIV infected monkeys be pumped through your cold, black heart you uncharitable bastige.


~g

majorbigtime

<< <i>Have no qualms. If you like coin, and desire aa dup., and the coin is offered to you at an acceptable price, gobble it up. >>




Meee too!

mirabela

It's a good question.

Two of something? Unless it is spectacularly rare, not a big deal.

I actually have more of a beef with die variety guys who snorkle up sixteen examples of each of thirty different dates of a thing, making it ridiculously expensive for type collectors just to get one. And even there, whether I like it or not, they have a right to pay what they're willing for those coins, and sellers have a right to sell to them... so I don't have a very strong complaint.

If it's nice and you really want it, buy it.

Coxe

Perhaps.....OINK OINK!!!! hehe

michael

pass on the coin

RYK

Don't just buy because it's rare, buy it if you like it.

Part of the charm is its rarity. Then, there is the history. And CCG and Reece, it is nothing that you would want.

BigE

No, you need to have a grading set to make sure you got good deal on the first one------BigE

goldisgood

I would if I could but am in fact just about to bid on a low pop rarity duplicate myself. If I win it'll be in good hands well appreciated and cared for. Good luck!

dlimb2

No, it is not piggish...I believe in two boxes of twenty...if I can do doubles of rare or keys in the best condition...and I have the money...I will buy them....I do not look at them as an investment for myself but for the future of those I leave them to...Of coarse I am happy to look at them once in a while.

tradedollarnut

Very few serious set collectors can afford to own multiple examples long term. Short term, however, buy it if you like it and you feel it undervalued. You can always use it for a trade later on.

Coin Finder

What is it?

raycyca

BUY THE COIN! Why? Many reasons. First, remorse. How many times do you ask yourself, why didn't I do that? What happens when it takes 5 or more years to have another example show up for sale, and it's 4 grades lower? Would you rather be kicking yourself because you didn't get it? If after 5 years you want to dispose of it, you can sell or trade it. Then you won't be saying I wish I bought that! This way you can go back and sell it, but the buying opportunity may not come back up, ever! You can undo a buy, but usually you can't undo a not buy situation. We usualy regret selling certain coins, but I'm sure there are more regrets of not buying certain coins. How many of us would like to go back and buy the 1995 W silver eagles when they were a HIGH of $1000?

I know of several board members that have tried to corner the market in certain types. For example, look at the 1972 type 2 Ikes. TECC was almost the sole seller on E-bay recently. Now, they have no more. There are a couple of board members that have accumulated a small quanity of them. They are going to hold onto them, at least for now. When will the next one be up for sale? For how much? I have a very small quanity that I have picked up raw and have had slabbed. They will not be for sale.

I am working on another set and have started accumulating raw and slabbed coins of a certain issue. For several reasons. One is greed. What if I can hold a large percentage of these coins? Then, when/if they catch on, there will be a demand but no supply. Then it will be a good time to sell! How many 1964 AH Kennedys does Russ have?

Another reason is to have grading examples of the coin. I have several slabbed as MS 65 in different comapny slabs. There is a BIG difference even in the smae companies' slabs. I'm working on obtaining a high grade top pop example but it's probabbly going to be impossible from a raw coin. So re-submitting for upgardes will be the only way. I have also broke out a few and have them in Wayte Raymond albums to try and have some pretty toned examples. NO, they will NOT be for sale. My wife likes toned coins as bright ones are boring. Toned examples are hard to come by.

One thing you can do if you feel guilty, is to occassionaly post the two coins side by side after you get them. That way we can all enjoy them. How many times have we seen Trade Dollar Nuts' dollars? Do we ever get tired of seeing them? I don't! How many of us would be bored by photos of the 1804 dollars, etc? Just my opinion, NOT subject to change. Ray

BAJJERFAN

Why would you care if its piggish or not unless you would be one of those who would come here and rub it in every chance they got. Especially if no one else knew that you had more than one.

CharlieB

If that's true then I am a pig and proud of it.

PerryHall

Me too! Oink ! Oink! There are several dates in the US gold series that I feel are undervalued or I just like and I have muntiple examples of them.

RYK

Why would you care if its piggish...?

I am not sure I understood the second part of the question, but it is a coin that is scarce enough that there are always more collectors seeking one than there are coins available. If someone has two, it means that someone who wants one will not get one.

SG58

Sounds like one of those D mint coins to me!!!