In retrospect what is the worst purchase you made?

IrishMike

As I sit here typing I can spy out of the corner of my eye 16 unopened boxes of Connecticut state quarters in the mini bags, that I purchased from the U.S. Mint as an investment. Looking backwards I should have dumped them when prices hit $70 a bag. Anyone else want to share their wrong or misguided move in the coin market? Maybe we can all learn something.


Edited: Big Oops!, meant to post this in the coin forum

Typetone

Two+ years ago I had the chance to buy a 71P IKE in PCGS MS66 for $850 and passed. About a year ago I had a chance to buy a beautiful Peac*ock 1976D Type 2 IKE in PCGS MS67 for $2,500 and passed.

Greg

keithdagen

I can vouch for Greg and the Peac*ock Ike. Not sure that it is worth the current asking price, but it is by far the prettiest modern coin I have ever seen.

Worst personal purchase for 4 rolls of Sac dollars. Not a single one would have graded MS-65.

braddick

Worse purchase? A PCGS AU common date Kennedy for $25.00+.

TomB

My worst purchase was when I bought $500 in exchange for a monster toned German commem. You read it right, I got the cash and the other guy got the coin. I should have never let it go.

gmarguli

A raw monster toned Walking liberty half that was sold as an MS67 (by an auction company that used to overgrade), but I purchased as an MS66. I'd guess I submitted that coin 15-20 times to PCGS/NGC/ANACS and I could never get them to give it the MS66 grade. It graded MS65 over and over again. Saw it in an auction awhile after I gave up and sold it as an MS65. It was sitting in an NGC MS67 slab. I have no doubt that just based on the toning it could be in an MS68 slab today.

egsantos

I prefer told about an acquisition that I loose because I was out of the town during the auction without my notebook (Did anybody already hear of someone stay during the carnival in Rio de Janeiro with notebook?).......

A splendid Kennedy AH PR67DCAM.... You guys don't believe the price.....
Today have one in EBay for $3 K…… and I promised to myself complete my set with a 100% of DCAM…...

littlewicher

Lets see here, my worst purchase, I really can't say that I've ever had a worst purchase before.

fletch2645

2002-P SACS. These things look terrible. I can't believe the mint let these things out.

pontiacinf

the 18 C&C buff sets, the 2 coin sets, the proofs, the uncircs..

oh wait I think I told everyone ta buy these


most recently its an OHIO-p 1000ct bag I dont wanna open, but its gathering dust

Monstavet

Two worst purchases:

1) Worst slab purchase: 1994 Jefferson MS64FS for $25....not sure where my brain was here...
2) Worst raw purchase: "Original" roll of 1938-P Jeffersons - got it for a great price....turned out to be nothing but circulated mixed date coins. What a waste! I didn't discover it right away...I even left the guy positive feedback! What a laugh!

Ronyahski

Years ago I bought the first 50-D Franklin slabbed in NGC 65 for $2250. Thought it was so rare as a Pop 1 coin. I bought the holder and not the coin. I'll take $500 right now, any takers?

Moral: Careful on buying population rarities, especially when they are butt ugly.

coynclecter

A book about rare coin investment by David Hall,

he left out the chapter about starting your own grading service.

Spooly

I feel a new Numismatic term coming!

Ronyahski Razor

States: "Be Careful buying population rarities, especially when they are butt ugly."

dbldie55

Is there a Franklin Half that isn't ugly?

EVillageProwler

My worst purchase was in mid-'97 when I just resumed collecting after a very long hiatus. I saw on ValueVision a common date Indian quarter eagle being hawked at a very high price for a BU. So I overpaid by quite a bit for a BU specimen.

It gets worse, folks...

A year or so later, I get the coin slabbed by PCGS. It comes back AU53. Ouch!

I refuse to part with the coin. It is a permanant reminder of the value of patience and learning.

So, maybe it wasn't such a bad purchase after all?!? Isn't the lesson learned pretty valuable?

EVP