Share Your Most Expensive "Mistake"
RainbowGrader
Posts: 15 ✭
Let's see a coin that you sold raw or slabbed that is in a higher grade holder than what you anticipated. Thankfully, I made mine earlier on in my collecting days so I had learned earlier.
I had discovered this coin with reverse facing up in a mint set and paid $5 for it individually. I sold it raw for a good amount. I sold it raw because I had it a technicaly grade of MS64, I saw marks under the color. Remember, this is early in my days so I didn't know how color could affect a coins grade.
I bought it back to own it a second time after the buyer sent it back and it received a MS66 grade with our host. I sold it in the holder for a profit after owning it a few months. Worst mistake so far.
The person I sold it to is a major registry collector who upgraded it to MS67. The second mistake with this coin I made is not buying it back for $600 more than what I had sold it for after it was upgraded to a 67 with our host.
The person who bought it in a 67 holder upgraded it to 67+ with our host which is the top pop of the date/mm.
In the end, the coin is currently in a 68 holder at NGC. The TV is while a 66. 
Comments
What is that old saying about lipstick on a pig? Of course that was no pig, but the lipstick analogy could apply to coins of color with beauty being in the eye of the beholder when a coin goes from a 64 to a 68. Of course we will probably never know how many total submissions the coin actually went through to find those beholder eyes that saw what others didn't.
To clarify, the coin was never actually in a 64 holder. When it was raw, I had thought it would holder as 64, but got 66.
What I do know is it was upgraded to 67 on the first try. I also know it ended up with Larry Shapiro so I presume that since he's a big dealer it went from P67+ CAC to N68 the first try.
I recognize the story and coin Gary, beautiful coin and interesting story, but aren't you banned from the CU forums? From @Pokeplayer101
My ex-wife, but she will not allow me to post her photo!
Sorry... that could get me in trouble.... some mistakes are better buried....Read that any way you want. Cheers, RickO
Welcome back Gary,
eBay ID-bruceshort978
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This deserves a separate thread, but since when does the color of a coin have anything to do with its grade? Isn't rainbow or other toning in the category of eye appeal rather than grade assignment?
Dude, bad form, send him a PM.
This will not help your "writing skills".
POST NUBILA PHOEBUS / AFTER CLOUDS, SUN
Love for Music / Collector of Dreck
My biggest mistake was not sending in a PCGS 66 OGH beautiful toned 38-d buffalo for regrade. It had a spot on the neck, so I figured at best 67, and would probably just leave it in the ogh. Well , big mistake, it upgraded to a 68 holder an sold last year in a stacks auction for big money, Spot was removed, but you could still see where it was if you knew what it was prior.
thing is, I probably wouldn't have been able to get the upgrade to 68 myself.
Knowing what you do now, if you had a similar coin, what would you do?
My biggest mistake was taking a day to do research on something rare and it was picked up by someone else. Now if I see something, I try to learn enough to make an offer on the spot and ask questions later.
I ALMOST made a mistake once back in 2001, I was a long time bid board member at a local B&M, however the original owner had sold it and they had a new owner, anyhow I had 2 raw common date nickels, a 1964D & 1953D BU Full Step that I put on the same Bid Card and I placed a reserve of 25 Dollars on it But the new owner felt that it was wasting precious space on his precious bid board and rejected them............So I sent them to the PCGS/Teletrade deal and the 64D graded MS65FS (POP 5) at the time and the 53D graded MS66FS (POP 2) at the time. long story short, Teletrade auctioned them and sent me a check for $ 3900.00...........so I was rather happy with how that turned out..........Oh and I thanked that New Owner several times before he went out of business.
Steve
Stella to Trash
I've yet to sell a coin which later upgraded that I know of.
The name is LEE!
I've made too mistakes that I've literally lost track of them. One however, I will always remember. I sold TDN his 1849 Seated dollar in a PCGS 66 holder after trying it 4-5 times for a 67. He later upgraded it to 67, which was a 6 figure upgrade. I still consider it the Finest No Motto Seated dollar I've ever seen. At least it went to a good home!
OUCH! That hurt me just to read!
Just thinking....
"Post your favorite coin" : Hundreds of replies
"Post your best deal": Hundreds of replies
"Post your biggest mistake": 20 posts, most of which are idle chatter.
Human nature. (And, no, I think my biggest mistake shall remain buried quietly in my type set, overpayment be damned).
In dollar terms this wasn't my biggest mistake - actually it was just what I call "a stupid tax."
I was looking for a nice Franklin type coin and I had been following a couple of 58-D toners in 66FBL at auction. They both went for more than I was willing to pay but then a very nicely toned one that I hadn't noticed before popped up on the live bid display. It was at the same grade and seemed to be selling at a very low price. In an instant I hit the bid button and was patting myself on the back when I noticed it was a 66, but not an FBL. Sigh!
Obviously I overpaid and eventually sold it for a small loss. In retrospect, the experience probably saved me plenty as I almost completely stopped bidding on anything I hadn't personally previewed or had someone preview for me. Bidding on-the-fly is a bidiot move.
Probably buying this coin at auction. I way over paid for it, but I really like the piece.
I have a couple others that had their market die after I bought them. They are "blue chips," to many collectors, but in reality they were over priced four or five years ago given their current market value.
That's what really matters,
The true value of something is what you're willing to pay for it.
POST NUBILA PHOEBUS / AFTER CLOUDS, SUN
Love for Music / Collector of Dreck
But when you throw away $25 to $30 thousand because of "auction stupidity," that fact that you heirs will probably be the ones who will eat the loss, only softens the blow slightly.
I got run up by a phone bidder who reneged on their bid in the middle of the auction. I should have walked away right there, although I have to admit I have not any pieces of late that I like as well as this example.
Wow, nice spot. This coin was his IG profile picture for a good while, and I even believe it was his previous (banned) account's profile picture. A ban is a ban.
"Give the kid a rest" is the funniest thing I've seen, especially after the thread fiasco that he got banned for...
What's up Gary, how's it hanging in Bantown???
@basetsb_coins on Instagram
Hi Gary. I recognized the coin immediately and realized it was you, so I would assume many others will, as well.
In honor of the memory of Cpl. Michael E. Thompson
fiascos
Banned now...
I for one feel everyone deserves a second chance,
Apparently 'Gary' did not...
POST NUBILA PHOEBUS / AFTER CLOUDS, SUN
Love for Music / Collector of Dreck
In theory, I agree with you 100%; however, that ship sailed long ago. Our host and NGC both color bump.
You are so lucky.
This is twice as concerning: grade inflation and a failure to recognize the spot removal.
When you come back as an alt so soon you have to wear a better disguise
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
The RainbowGraded handle is ironic given that he started a thread about a surprise raw to high grade on a rainbow quarter.
Latin American Collection
That guy lol who purchased Toned Rosevelt Dimes Raw and could not return them despite having a registery of them and brags about his knowledge on them.Them gave some sob story he needed to sell items to pay for them along with unrelated comment abotr G.C. makes him top of the list.
Don't have any photos, but sold a 1948-D Franklin in an NGC fatty graded 64. A couple years later saw it on eBay in a pcgs 66FBL holder. So realistically it's probably actually a 65, but someone was blessed by pcgs.