Do You Feel Guilty When You Sell a Coin?

Coinosaurus

Do you feel guilty that the only thing you have suceeded in doing is just burying the next guy in line

Think about it, whenever you sell a coin, there is one less buyer for it. You have diluted the market of buyers, meaning it will just be harder for the next guy to get rid of it.

renomedphys

It's all part of the game

leothelyon

And regretting it?


Leo

ctf_error_coins

Most of my ebay auctions start at .99 cents so if someone wants to bury themselves in a coin then it would be their own fault. A couple of weeks ago someone bid up a coin I paid $3 for to $102. The coin was worth maybe $20. I kinda felt bad that the guy buried himself in one of my coins, but it was his own doing. A few days later when the guy got the error coin he emailed me , and sounded mad and accused me of selling him a "fake" coin. Well I emailed him back saying it was real, no doubt at all as I specialize in errors. Have not heard back from him. Needless to say, after he accused me, I don't feel bad for him at all.

pf70collector

Not not at all.
I have been on the receiving end also. I was buried in a coin for 3K. Didn't want to sell for 5 years, finally sold it two weeks ago. We are all responsible adults here. No quilt whatsoever in selling either at market /greysheet bid/ask prices – which is what I sold the aforementioned coin at a tremendous loss.

Coinosaurus

<< <i>Most of my ebay auctions start at .99 cents so if someone want to bury themselves in a coin then it would be their own fault. A couple of weeks ago someone bid up a coin I paid $3 for to $102. The coin was worth maybe $20. I kinda felt bad that the guy buried himself in one of my coins, but it was his own doing. A few days late when the guy got error coin he emailed me , and sounded mad and accused me of selling him a "fake" coin. Well I emailed him back saying it was real, no doubt at all as I specialize in errors. Have not heard back from him. Needless to say, after he accused me, I don't feel bad for him at all. >>



It was mentioned on the Forum yesterday that "a good dealer doesn't bury his customer in a coin."

I have no reason to doubt you acted ethically in the above transaction, but what is the likelihood you will get repeat business here?

ctf_error_coins

<< <i>

<< <i>Most of my ebay auctions start at .99 cents so if someone want to bury themselves in a coin then it would be their own fault. A couple of weeks ago someone bid up a coin I paid $3 for to $102. The coin was worth maybe $20. I kinda felt bad that the guy buried himself in one of my coins, but it was his own doing. A few days late when the guy got error coin he emailed me , and sounded mad and accused me of selling him a "fake" coin. Well I emailed him back saying it was real, no doubt at all as I specialize in errors. Have not heard back from him. Needless to say, after he accused me, I don't feel bad for him at all. >>



It was mentioned on the Forum yesterday that "a good dealer doesn't bury his customer in a coin."

I have no reason to doubt you acted ethically in the above transaction, but what is the likelihood you will get repeat business here? >>



I am sure I will not get repeat business from him. But what am I to do, he and another bidiot bid it up. Am I suppose to say after someone bids a (99 cent) auction to way more than it's worth that you paid way too much for it so I will give it to you at X ?? An auction is just that, an auction which goes to the highest bidder. Do auction houses say that you paid too much for that so we will cut your price by 75% ???? I think NOT.

Lakesammman

As a collector, I always hope that I'll get offered back coins that I've sold.

There are many I would like to have back but the new owners seem to like them.

Billet7

I usually feel guilty that I sold it, but not for the reasons you think, I feel guilty becuase I should have kept it....actually I think stupid is a better word. I sold an 1808 half a while back on the BST. I wish I didn't. It was nothing stellar, but a nice original XF'ish coin with a nice strike...I got a great price on it and should have kept it.

crazyhounddog

I've sold a few I felt sick over. One I just sold recently was a 1913-s type 2 Buff. I made a HUGE profit on this coin, but now that it's gone I feel a large void in the pit of my gut....

lkeigwin

I bought an estate collection not long ago, to help out a friend. I put a lot of it on BST.

A forum member bought two VF WLH's, a '21 and '21-D. It was a good price ($450 for both) but he decided it didn't fit his set so he returned them.

I put them both on ebay for 99c, no reserve. Same guy won both auctions...paid $850. That's more than they were worth IMO, but 20 or 30 bidders drove the price that high. The winner posted 5 star feedback. He was happy and I don't feel any remorse.

I think I feel most guilty when I buy a coin, not sell it. LOL.
Lance.

Egger

I dont think the us mint feels bad, do you?

questor54

<< <i>I bought an estate collection not long ago, to help out a friend. I put a lot of it on BST.

A forum member bought two VF WLH's, a '21 and '21-D. It was a good price ($450 for both) but he decided it didn't fit his set so he returned them.

I put them both on ebay for 99c, no reserve. Same guy won both auctions...paid $850. That's more than they were worth IMO, but 20 or 30 bidders drove the price that high. The winner posted 5 star feedback. He was happy and I don't feel any remorse.

I think I feel most guilty when I buy a coin, not sell it. LOL.
Lance. >>



Well at least you were able to help your friend. I bet he was surprised when he got $850 for the coins instead of just $450.

jmcu12

To me it is the market. If a bidiot pays ways too much for something they must have thought it was worth it. They created the market so why feel bad for them?

Would a buyer who pays too little for a coin offer to pay more because they feel bad about not paying enough??

djdilliodon

I've sold a few coins that I wish I could get back but what ya gonna do

Walkerguy21D

Never guilty for charging too much, as I feel I price things pretty fairly to begin with. If anything I feel remorse at not charging enough, as many times my coins are
resold for a profit soon after purchase.

Coinosaurus

<< <i>Would a buyer who pays too little for a coin offer to pay more because they feel bad about not paying enough?? >>



That happened to me once by accident. I asked a dealer how much a coin was, he says "$5300." He didn't talk too loud, so I thougt he said $6300. I offered $6000 and thought it was a good deal at that price. He looks at me real funny and says, "No, I said $5300." He should have said "OK" to the $6000! I bought it at the $5300 and did not feel bad. Later learned that the coin had just walked up to him at $4300. Today would easily get a nice return at auction.

jsf

sometimes I feel guilty just selling a little ol' XF like this, but it's not because of the money...

PerryHall

Remorse and regret---sometimes
Guilt---never

dsessom

Most coins I've owned, I really liked and would most likely repurchase if the opportunity arose. In fact, I have seen a few of my ex coins (as many of us probably have) for sale elsewhere after I sold them and it's kind of neat actually - like seeing an old friend.

I never feel guilty, but sometimes a little sad to see them go. If I could have my way and didn't need to pay bills, I'd keep them all!

Steve27

I've only felt guilty about coins I've given away. In particular, I gave each of my friend's kids an unc 1943 cent, a well worn 1943 cent, and a magnet. I showed them how they would stick to a magnet using the well worn coins, and I explained they would damage the unc coins if they used the magnet on them; well you can guess the rest. So I feel guilty about contributing to turning unc cents into AU cents.