Would You Sell A Coin...
Banemorth
Posts: 986 ✭✭✭
This is just one of those random things that floats through my head on any given day.
Let's say you had a rare coin in your collection, maybe 100 in existence, and someone offered you double what you paid for it but you knew that person would use it towards nefarious ends. (Try and doctor it up, over dip it, make counterfeits with it, blow it up, etc.) Would you sell the coin to that person or would you rather take less money selling it to someone whom would care for it properly and preserve it as it is?
Let's say you had a rare coin in your collection, maybe 100 in existence, and someone offered you double what you paid for it but you knew that person would use it towards nefarious ends. (Try and doctor it up, over dip it, make counterfeits with it, blow it up, etc.) Would you sell the coin to that person or would you rather take less money selling it to someone whom would care for it properly and preserve it as it is?
Justin From Jersey
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That said, when someone is in NEED of currency.... that tends to alter our decision making process
.. I guess it would all depend on my circumstances.
Ray
Pick wisely.
bob
It's one of 3 known and was in poor shape as is 1 of the others.
I was instantly offered ten times what I paid and it was gone prior to any additional arm twisting!
<< <i>When to sell is always tougher than knowing when to buy. >>
Now THAT'S a good quote.
This was just meant to be an interesting discussion. If some Hollywood exec came in wanting to buy Ultra Rare Coin X because, even though he's going to CGI most of the coins in the rare treasure vault of the next Indiana Jones movie, he wants one really rare one the actor can hold and they can then blow up and melt on screen! Or if perspective buyer XYZ said "This would be the perfect coin to make a cast mold with!" and then made his offer. I'm not entirely sure if there's a right or wrong answer to this question. More just asking is the coin's "well-being" more important than the sale?
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Hoard the keys.
We spend a lot of time admiring coins, wishing we had them, buying them, selling them, and talking about them. To knowingly sell a coin to someone who wanted to mess with it, in my humble opinion, isn't doing the numismatic community a whole lot of good, as the material associated with our hobby (and for some, careers)- it literally destroyed or devalued. Here's an example to state what I mean: the other day, I came across an otherwise beautiful Morgan dollar at the show, had the mint mark not been tooled with. Now, I know many would just say "who cares, move along, find another one, etc." That's cool to some, I guess. I look at that coin and wonder, gosh, some lucky numismatist would have been thrilled with the coin had some guy not been an idiot and did a bad job doctoring the coin. It's never an isolated incident- there are plenty of times on the forum where we've seen nice coins with one little problem and thought, "gosh... if only it didn't have this" or "man, if it weren't for this little thing, I'd totally buy the coin" and so forth.
And how about those who do an excellent job of doctoring the coin?
There's an infamous member on this forum- I'm not going to bring his name up as I'm sure he's tired of it after making up for his actions, but many older forum members know him well- who doctored slabbed Morgans *while* they were in the holder. It's bad for the hobby for a reason- beside being dishonest, it causes fear and skepticism in our hobby that eventually turns people away, and it ruins the coin for future enjoyment. The forums literally erupted in chaos when his doctoring was uncovered, and I highly doubt he takes any active role on the forums today.
So sure, I can say "well, it's up to him to do what he wants with it." And it is. I'm certainly not going to dictate other peoples' actions. In these situations, however, I have a choice to protect my interests as well as the interests of others by not selling the rare coin to the buyer. Would I compromise these ideals for some temporary financial gain? That sounds like greed to me. Not the "good" sort of greed that we're (subjectively) taught to appreciate as we're growing up, but just useless greed that could have been avoided. Besides- if one guy wants it, I have a hard time believing another doesn't. Especially when the coin's rare.
Just my 2 cents. I respect others' opinions of they disagree with mine
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<< <i>I took a medal to a show last year to see if any dealer could give me more info on it then I was able to research on my own?
It's one of 3 known and was in poor shape as is 1 of the others.
I was instantly offered ten times what I paid and it was gone prior to any additional arm twisting! >>
Did it end up being the finest known?
<< <i>
<< <i>I took a medal to a show last year to see if any dealer could give me more info on it then I was able to research on my own?
It's one of 3 known and was in poor shape as is 1 of the others.
I was instantly offered ten times what I paid and it was gone prior to any additional arm twisting! >>
Did it end up being the finest known? >>
No a PL UNC had sold in the 1870's and mine was a beast with about 5 different issues. I only picked it up as I knew it was rare, cheap, and would be fun to research. I already knew when I bought it that this wasn't something I'd keep long term as it wasn't really presentable. I was asked what I paid for it and was honest about it and in turn was offered 10 times that amount if I was interested in selling. I sold it on the spot and knew I was most likely leaving money on the table but felt I wouldn't ever find the end buyer that would pay me more. We both parted happy and the sale of medal funded a couple superb HTT's which better fit my collection.
Eric
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
There is only so much protection around a coin. If someone is going to do something wrong, I'm not going to follow them down the street and watch.
There is the old saying : "it ain't no skin off my nose".
``https://ebay.us/m/KxolR5
Happy Cinco de Mayo
Hoard the keys.
<< <i>If the offer was generous and I no longer wanted the coin, I would sell it. Once I sell a coin I can't worry what the new owner will do with it. It's his coin and he can do whatever he wants to do with it. >>
agreed