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GotTheBugGotTheBug Posts: 1,718 ✭✭✭✭✭
edited August 20, 2019 5:07PM in U.S. Coin Forum

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  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    I do not think that would work. I would just sell the coin for a loss ( current market value) and put that money into something you do want.

  • BillJonesBillJones Posts: 34,797 ✭✭✭✭✭

    I don't think that the cash part would work if it were tied to the amount someone overpaid for a coin. It works if the difference in the fair market value of the two coins were a factor.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • ChrisH821ChrisH821 Posts: 6,730 ✭✭✭✭✭

    But you would still be trading coins of similar value, at that point it doesn't matter who paid what for them so it essentially boils down to a regular trade.

    Collector, occasional seller

  • morgandollar1878morgandollar1878 Posts: 4,006 ✭✭✭✭✭

    If the two coins are valued really close to the same amount then you have a chance. Both parties just need to be on the same page.

    Instagram: nomad_numismatics
  • oih82w8oih82w8 Posts: 12,597 ✭✭✭✭✭

    If you can find a mutual partner...otherwise cut your loses and sell now before you get buried deeper.

    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

    BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
  • KccoinKccoin Posts: 1,086 ✭✭✭✭✭

    I think its a good idea. Trading towards a coin you can enjoy can eliminate some of the "buried" factor.

  • TomBTomB Posts: 22,079 ✭✭✭✭✭

    It reads like any other trade scenario, am I missing something that makes it unique to coins underwater?

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • rheddenrhedden Posts: 6,632 ✭✭✭✭✭

    I actually like this idea quite a bit, and I have used trades to get out of burial situations before. The real problem is not so much the excessive price paid, but the fact that you no longer want the coin in question. Trading it for something you really want can avoid the additional losses associated with sellers' fees on both ends of the trade. If you hold the new item for a few years, it might not be a burial any more.

    Here's a quick example from my own dealings. I bought a raw DMPL Morgan for $180 at a show and realized it was a surefire burial as soon as I got home with it. It had hidden hairlines from a wipe that I didn't see under the show lights. Kiss of death for grading. Rather than dumping it and getting $50 back, I took it to the next show and traded it to the same dealer (plus cash) for a 1909-S Indian cent in VF25 ($350 total outlay). I got the 1909-S graded VF25 at PCGS (additional $30-35) and held it for a few years, and it's now $525 in the PCGS price guide. A sure burial turned into something that would realize a marginal profit if sold.

    The main obstacle is that it takes a critical mass of people and coins to make a trade system work. If there are only a few coins available for trade, then transactions are unlikely.

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    It would be like finding a needle in a haystack, to post the coin you want to be rid of, and find a fellow spirit who wants to be rid of a coin that you want, whether you both are buried or not.

    However, I don't see why you couldn't post your proposal and list of coins you would want to trade and the ones you'd like in return, on the BST Board. Who knows? You (and the other person) might get lucky.


    Here's a warning parable for coin collectors...



  • GotTheBugGotTheBug Posts: 1,718 ✭✭✭✭✭
    edited August 20, 2019 5:05PM

    .

  • TommyTypeTommyType Posts: 4,586 ✭✭✭✭✭

    The first step to recovery is accepting that the current value is the real value.
    (I don't know if there are 11 other steps). ;)

    Once you've done that, you can sell, trade, auction, as you see fit. I don't think there is a special status that "buried" coins have in this...or any other....transaction.

    Easily distracted Type Collector
  • GotTheBugGotTheBug Posts: 1,718 ✭✭✭✭✭
    edited August 20, 2019 5:06PM

    .

  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    Why don't you start a thread in the BST and see if something comes of it???

    @GotTheBug said:
    _It would be like finding a needle in a haystack, to post the coin you want to be rid of, and find a fellow spirit who wants to be rid of a coin that you want, whether you both are buried or not.

    However, I don't see why you couldn't post your proposal and list of coins you would want to trade and the ones you'd like in return, on the BST Board. Who knows? You (and the other person) might get lucky._

    It would be a smaller haystack if everyone posted their buried coins to the same thread.

  • AMRCAMRC Posts: 4,280 ✭✭✭✭✭

    It is merely emotionally easier to swallow a loss if you "trade it in" for another coin you would like better. In real math, there is no difference.

    MLAeBayNumismatics: "The greatest hobby in the world!"
  • WalkerfanWalkerfan Posts: 9,743 ✭✭✭✭✭
    edited March 21, 2017 2:36PM

    The only 2 or 3 coins that I'm 'buried' in are coins that I REALLY wanted. That is why I paid up for them in the first place.

    This seems like an unlikely scenario but I suppose that it could work, if you didn't like the coins, anymore. You'd still be buried in the new ones, though, so that would remain the same.

    Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍

    My Full Walker Registry Set (1916-1947):

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • stmanstman Posts: 11,352 ✭✭✭✭✭

    Yes, but what are the dealers gonna do? ;)

    Please... Save The Stories, Just Answer My Questions, And Tell Me How Much!!!!!
  • 291fifth291fifth Posts: 24,689 ✭✭✭✭✭

    Just take a deep breath, sell, and never look back.

    All glory is fleeting.
  • originalisbestoriginalisbest Posts: 5,971 ✭✭✭✭

    @291fifth said:
    Just take a deep breath, sell, and never look back.

    Good lord. Since you sold all your coins several years back, I guess it's your self-appointed mission to rescue us all from the risk of being buried in coins we enjoy talking about, selling/buying/trading/etc. You'll probably want to chalk me up as a lost cause, sadly.

  • pennyanniepennyannie Posts: 3,929 ✭✭✭

    @291fifth said:
    Just take a deep breath, sell, and never look back.

    @291fifth said:
    Just take a deep breath, sell, and never look back.

    Good advice in my opinion. I have gotten to thepoint point I do it in my regular business. I never look back at the would of, could of, should of. I part company and look forward. A lot less stress. Not everything is a homerun.

    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"

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