At what point would you sell for a loss?

AnkurJ

I decided to get rid of a few coins for a loss recently just to clear some bad purchases and use the cash on better material.

One example was a coin I purchased raw and did not notice an issue. The coin was sent to PCGS after a few months and came back in a geunine. I met the dealer who sold it to me, and he agreed to buy it back at around $80 under what I paid. I was happy to get rid of the problem coin, and get cash that can be used elsewhere.

Have you ever done the same? I dont mean with quality coins and a swing the market. But with stale or poor quality material.
I would love to hear what everyone thinks.

AJ

RYK

I have sold many, many coins for a loss, especially to move into better or more interesting material. If you are a collector and buying and selling regularly, and not selling coins for a loss, you are probably holding on to your losers (which is fine, if you like them). To me, it's about winning the war, not winning every battle, and the "war" is to build a collection that I will enjoy.

!!!!!

blu62vette

Yes you should sell the toner we have PM'd about at a significant loss. It is time.

In seriousness, I do it when I need to free up cash and or when I made a bad purchase and take it as education.

jayPem

<< <i>I have sold many, many coins for a loss, especially to move into better or more interesting material. If you are a collector and buying and selling regularly, and not selling coins for a loss, you are probably holding on to your losers (which is fine, if you like them). To me, it's about winning the war, not winning every battle, and the "war" is to build a collection that I will enjoy.

!!!!! >>



I totally agree with this philosophy RYK, although as a collector with increasingly significant amounts of $$$ tied up in coins, I do like to feel that I can break even
or turn a small profit from time to time as well.
Being able to get out of the coins I want out of without getting killed allows me to keep collecting !

MrEureka

Whenever you decide a coin is not worthy of your collection, you should sell it. Get as much as you can get, of course, but take a loss if that's what it takes to make the sale.

greghansen

RYK

Bochiman

I have only sold 1 or 2 coins for a loss. Each time was to upgrade. I count the "loss" as a higher cost to the upgrade, so if I am ok with that higher cost, then I do both deals (sell the first, for a loss, then buy the upgrade, at the "higher" price).

I have some that I should sell, likely at a loss, but since I don't have any plans for the cash that would generate, then I just keep the coins. Some go back up, other stay the same, and others get worth less.

LindeDad

That keeps the tax payments at bay.

pennyannie

If you have to sell for a loss you should shop more carefully in the future I would not consider a loss of 80 dollars as any big deal unless the coin was 100 bucks to start with. 80 dollars is lunch money, 1/2 tank of diesel, both will be gone in a few hours.

I like to think that for every coin that is a loser, i have 3 that will fly the other way.

JamesMurray

80 bucks for lunch money ..wow..im living all kinds of wrong.

I sold all my barber dimes this week and probably took a bashing on them , its like PennyAnnie says though , i should have been more careful years ago but then again i didnt know any better.

AnkurJ

The biggest loss I took was about $500. It was a 1800 $5 ANACS AU55 I bought from Heritage that was cleaned. I did something stupid and didnt see the coin in hand. Heritage reauctioned it for me. I have never been so happy to get rid of a coin and lose that much money.

The coin I am speaking of today was a Large cent that had its surfaces smoothed. I totally missed it, but now I know what it looks like. I paid $550 for the coin and PCGS grading fees. Sold the coin back for $450. Good ridance!

All of this also comes back to why I trust CAC coins. There are problem coins in problem free holders. And while I know what most problems look like, I am not 100%.

Bochiman

Sounds like you bought the large cent raw?
Sounds like PCGS caught the issue?

AnkurJ

<< <i>Sounds like you bought the large cent raw?
Sounds like PCGS caught the issue? >>



Correct. Now I know what smoothed fields look like.

TURBO

<< <i>If you have to sell for a loss you should shop more carefully in the future I would not consider a loss of 80 dollars as any big deal unless the coin was 100 bucks to start with. 80 dollars is lunch money, 1/2 tank of diesel, both will be gone in a few hours.

. >>



WOW! Must be nice.

Walkerguy21D

<< <i>The coin I am speaking of today was a Large cent that had its surfaces smoothed. I totally missed it, but now I know what it looks like >>


Good thread, Ankur.
Do you have a photo of the coin? If you don't want to publicly post it, PM me. I'd like to learn more about it. There seems to be a lot of 'doctored' large cents around!

Shamika

I've sold many a coin for a loss as well as many coins for profit. You win some, you lose some. And that's okay.

TwoSides2aCoin

Bought an Englehart 100 ouncer last month for $3850. Sold it for $3250 a few weeks later, to pay the bills. The guy's sister come in a week later and sold me one for $3750.
I'll let it go tomorrow for $4350. Then I will break even, for today is a day of rest.

agentjim007

getting $10 over an once on that 100 oz bar is pretty good, Don't see why you had to eat $600 on the last one. This is a hobby I don't drink (much) don't gamble (much) and don't smoke at all. I take losses all the time. I do this for fun. PS I do make a few bucks now and then.

Unknown

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LotsoLuck

Many times I have sold at a loss but I would never pay $80 for a lunch

LindeDad

<< <i>Many times I have sold at a loss but I would never pay $80 for a lunch >>



Dinner many many times and many times that too sometimes.

jt88

<< <i>I have sold many, many coins for a loss, especially to move into better or more interesting material. If you are a collector and buying and selling regularly, and not selling coins for a loss, you are probably holding on to your losers (which is fine, if you like them). To me, it's about winning the war, not winning every battle, and the "war" is to build a collection that I will enjoy.

!!!!! >>



I agree with you. I sold couple hundreds Morgan and Peace at loss, break even or little profit after fee. I just sold some coins at loss last week on eBay. Sometime you need to get money to buy better coins. This is just like stock trading; cut the loss and move on.

MrEureka

<< Whenever you decide a coin is not worthy of your collection, you should sell it. Get as much as you can get, of course, but take a loss if that's what it takes to make the sale. >>

Don't you all wish dealers would do the same at times!


The most successful dealers tend to be very quick in taking appropriate losses. This is no coincidence.

yellowkid

While I hope that my better pieecs would hold their value, or appreciate over time, I'm here to have fun and will sell at a small loss if I decide I would rather put the money somewhere else.

coinlieutenant

Everyone that has been doing this for any length of time has/will take a loss. I certainly have in the past and will in the future too.

Best idea is to not put yourself in a place where you have to take a loss because you need money. Decide what you want to sell and then properly utilize your contacts to get the most money out of your mistake or change of direction.

Don't hold out for the last penny, but don't give away the farm either.

RYK

Anyone who thinks that all coins go up in value should be prepared to hold them 100 years and cross their fingers, too.

BillJones

At what point have I sold at a loss?

When I've lost interst in something and realize that the market for it is not going to turn around any time soon.

ambro51

The trick is to view the big picture and on some you win and on others you lose. If it averages out, then you are good to go.


The main principal of buying retail and selling wholesale (and taking into account ebay fees or auction house juice).....you are of course going to get less money in hand at sale time, unless you have been in the game for years, or are selling an item that is "hot".

BigMoose

Anyone who has never sold a coin for a loss has not bought very many coins.

AnkurJ

<< <i>Anyone who has never sold a coin for a loss has not bought very many coins. >>



Very well said!

ColonialCoinUnion

<< <i>At what point would you sell for a loss? >>



1. If I really needed the money.

2. If I thought I would not be able to get more for it anytime soon.

3. Both of the above.

AnkurJ

<< <i>Anyone who thinks that all coins go up in value should be prepared to hold them 100 years and cross their fingers, too. >>



I think there are exceptions to this though. Such as a 1792 Half Disme or the $50 Pan pac slugs. What do you think?

coinbuf

<< <i>Anyone who has never sold a coin for a loss has not bought very many coins. >>



Not really true for all I have sold very very few coins over the last 20yrs(I can count the number on one hand other than bullion) and did not lose on any. In that time I bought the bulk of my collection. I'm sure that when the time comes to sell I will have some losers but hopefully the wins should more than offset. Perhaps I'm in the minority or simply just a horder, time shall tell.

TwoSides2aCoin

Went to a show in Minnesota this weekend to move a couple nice coins out of inventory. Almost broke even on that silver bar that I lost 6 hundy on... with one coin (pcgs slabbed).

Thank you PCGS.

RedSticker

Anyone that collects/accumulates coins and has sold coins has probably taken a loss. The great thing about coins is if you are knowledgeable and buy and hold for the long term (5 to 7 years+) overall you will typically come out okay. The most I have lost on a coin is about $300, but I have never purchased a coin for over $4,700. I still own some losers.....that I love!!! On the other hand I just love coins, even if I never made anything off of my holdings.

cape

Realone.... we do take losses..... sometimes really bad ones! At least selling at a loss gives you some capital back for better purchases.

Bochiman

<< <i>

<< <i>Sounds like you bought the large cent raw?
Sounds like PCGS caught the issue? >>



Correct. Now I know what smoothed fields look like. >>




So, buying PCGS and not necessarily having to have it CAC'ed would have worked just as well then?
I know I have only bought 1 EAC over $200 raw and that just slabbed exactly as the dealer said it would (gradewise) when I bought it ~5 years ago. Until I feel better about myself and EAC, I buy already PCGS'ed.

RYK

<< <i>

<< <i>Anyone who thinks that all coins go up in value should be prepared to hold them 100 years and cross their fingers, too. >>



I think there are exceptions to this though. Such as a 1792 Half Disme or the $50 Pan pac slugs. What do you think? >>



I stand by my quote as stated.

Bear

When the potential use of the sale money exceeds

the potential incrcrease in the value of the losing

purchase, then it is time to consider bailing out of the

burning aircraft.

mkman123

You win some, you lose some

pontiacinf

Sold some today on BST for less than paid, and have done so under certain circumstances. I also
have sold things into reg collections with stipulations they come back to me when done, which were also
under what they were bought for, but they always come back for what recieved monetary wise.

Right now I am trying to clean out a few rooms and reclaim some space, its not a daily habit.
Prices are based on what I think they are worth present day to me.

again, I do not make a habit of it, and we are not talking thousands of dollars.

SoCalBigMark

Are you trying to say some collectors actually make money on coins?

Bear

I think I might have made some money back

in 54, but I can't be sure.

golfer72

If you dont like the coin sell it. What you paid for it does not matter. People are funny. They think they havent taken a loss unitl they sell. Wrong. They havent taken a gain untilthey sell. Same as stocks.

Bear

Even If you buy the right coin, in the right grade at the right price,

time is the element, that is usually necessary for a profit.