Has the Wrong coin ever... Become the Right coin?
Broadstruck
Posts: 30,497 ✭✭✭✭✭
Did you ever pass on a coin that you figured you could better...
And then realize after aimlessly hunting that it may have been the example you should've grabbed
And then realize after aimlessly hunting that it may have been the example you should've grabbed
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
0
Comments
<< <i>Are we talking about coins or is this a euphemism for women?
<< <i>Did you ever pass on a coin that you figured you could better...
And then realize after aimlessly hunting that it may have been the example you should've grabbed
When I was a collector, probably a couple hundred times. As a dealer, probably a thousand times.
The tough part is re-finding the coin, and then buying it. That has happened only a few times. I missed a coin at auction in 1997 and kicked myself for doing so. I didn't know if I would ever get another shot at it. In 2004, it came up for auction again, this time I was smart enough to buy it. Still have it, and am very happy that I do.
An authorized PCGS dealer, and a contributor to the Red Book.
I have pretty definite standards - if it doesn't fit the bill the first time, it's unlikely to do so later. I'd rather have a hole in the collection than a coin I don't really like.
For error coins, many are unique so there is only one to buy. For other rare coins that are thinly traded, sometimes you have to jump when one becomes available. You can always upgrade, if and that's a big IF, a better example comes along. Of course if the one example has a problem that will always distract you, then I would pass.
a well-known New York Rare Coin
Dealer (now deceased).
He told me (back in the '70's) that:
"Sometimes, the opportunity to buy
a rare coin is rarer than the coin itself"
True words of wisdom............
chances are what you missed will become available again. and at least this time you wont have to try and outbid the last guy who bought it.
<< <i>I always like quoting Lesker Merkin,
a well-known New York Rare Coin
Dealer (now deceased).
He told me (back in the '70's) that:
"Sometimes, the opportunity to buy
a rare coin is rarer than the coin itself"
True words of wisdom............ >>
Thanks, Fred. I have heard that statement many times, but no one was able to attribute it.
And for a coin that this applies to, how about that F-12 Strawberry Leaf 1793 Cent? Sold in 1941, disappeared until a couple of years ago. That's an absence of over 60 years!
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>
<< <i>Did you ever pass on a coin that you figured you could better...
And then realize after aimlessly hunting that it may have been the example you should've grabbed
When I was a collector, probably a couple hundred times. As a dealer, probably a thousand times.
The tough part is re-finding the coin, and then buying it. That has happened only a few times. I missed a coin at auction in 1997 and kicked myself for doing so. I didn't know if I would ever get another shot at it. In 2004, it came up for auction again, this time I was smart enough to buy it. Still have it, and am very happy that I do. >>
The last one that comes to mind is a coin I returned and later snapped up and sold by RichUrich for twice the price. I still don't like the coin but I could have used the money I could have made by just flipping it.
<< <i>I always like quoting Lesker Merkin,
a well-known New York Rare Coin
Dealer (now deceased).
He told me (back in the '70's) that:
"Sometimes, the opportunity to buy
a rare coin is rarer than the coin itself"
True words of wisdom............ >>
This is merely a trivial truism, not words of wisdom. Unless all examples of the coin are perpetually and simultaneously available for purchase, the statement is true.
<< <i>I always like quoting Lesker Merkin,
a well-known New York Rare Coin
Dealer (now deceased).
He told me (back in the '70's) that:
"Sometimes, the opportunity to buy
a rare coin is rarer than the coin itself"
True words of wisdom............ >>
I've always liked that quote, and found that it aptly describes many issues which aren't terribly rare, and seem like they should be available, but which seldom trade. And, as per the OP's question, you may not realize that the one you had a chance to buy, but passed on, might just be the best one you see for a really long time.
Gone in 60 seconds.
Of course I would have sold it in the subsequent economic slaughter, but I haven't seen that date offered in a worthy example since.
Did you ever buy a coin, with the OP's thinking in mind, and later realize you really could have done better? That's been a more common problem, if not the bigger one.
Lance.
<< <i>And, as per the OP's question, you may not realize that the one you had a chance to buy, but passed on, might just be the best one you see for a really long time. >>
Oh I learned the hard way as I passed on it in 08 then saw the finest last fall and instantly liked the other better