Major Cherrypick -- Sell or Keep?
QCCoinGuy
Posts: 335 ✭✭✭✭
What would you guys do? What have you done in the past? Have you ever sold something you collect just to cash in?
Editing to add it's between $5k-$6k but virtually irreplaceable.
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If the price was right I would sell, problem is...............I don't know what the 'right' price is
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If it fit in my 19th Century Everyman collection, it would possibly be a keeper. If it was outside...sell it!
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It would depend on what it is and if I am collecting it.
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You are asking the wrong guy. I should have some some stuff years ago if profits had been my goal.
It all depends upon how you will feel after it’s gone. If it doesn’t bother you, let it go if there is money to be made.
If you are a regular seller of coins you have acquired then sell. If you have a varied collection, you don't need the money, then it could be the highlight of your Cheery Picked Winners special collection.
...cash it and then hit the mall with a couple thousand...winter up your wardrobe with some new kicks and then double fist a couple bags of Auntie Anne’s pretzel bites on the way out
As I always say,,,,,,, "Take the money and run"
If it's not what you collect, sell it and use the proceeds to buy what you do collect. If it's what you collect, you're set.
If we were all the same, the world would be an incredibly boring place.
Tommy
How should I know? If it was something I'd been hunting, I'd keep it. If it was something I just wanted to make a few $$ on, I'd sell it. If I was going to be evicted and needed rent money, I'd sell it. You are the only one who knows the variables.
There is nothing wrong with profit-taking.
If you are emotionally attached to it, it's probably better to keep it.
For the record, I usually sell things in the same situation. Out of several hundred, there are only maybe 1 or 2 coins I regret selling.
You can bet your bottom dollar that if I found a pcgs 1958 67+ fbl cac wildly toned Franklin half it would be gone asap! Not sure that I would get six figures for it but I wouldn’t care.
I would most likely keep a coin that is in a series that I collected unless it was a dog.
Enjoy until the newness wears off then sell and keep looking for another! Repeat, repeat, repeat......
bob
Sell, reinvest in more cherries, rinse and repeat!
Coin or a relic?
Since you're asking I think you truly don't want to part with it.
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I sold off my half cent die variety collection, which included some cherry picks, and have never looked back. They were fun when I was collecting them, but then I slammed into an impenetrable wall. There was no where to go but drift.
If it were me I would ask myself the following 2 questions.
Does it fit my collection and would I miss it if I sold? If the answer is no to both questions, then I would sell. If the answer is yes to either question, then I would keep it.
Good luck, Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
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It's hard to make a call for you. A couple years ago, I was in the same position. I photographed my cherrypick and then I sold it. I still have the images that I can go back and look at. I have the nice equipment that I bought with the money from the sale. I look back with no regrets. I'm sure if I found another one, I'd probably sell it again and buy some really nice coins that I am more passionate about.
If the coin belongs in your collection, keep it. Otherwise, sell it. Your cost is irrelevant.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I would sell it.
You weren't expecting to come across it which leads me to believe you`d be fine without it, and a nice bit richer
Or maybe not and you just want to brag? 🤑
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
If it is truly irreplaceable, and it is of the type you collect, I dont know how any true collector sells (unless they are behind in their finances or want something else more.)
Isn't that what drives most of us in this hobby? The hunt...the history...the story behind the coin? Or is the goal simply to make money?
I go to work to make money.
Dont get me wrong, buying and selling coins as a part of the hobby is an excellent way to slowly build a collection with the profits.
But, a huge cherrypick? One that you would otherwise buy at retail for your own collection if you could afford it (or even find one to purchase?) I'd keep it.
My grandfather received a 1942/1 dime in his change on a coffee break in the early 50s. His cherrypick has become a legendary tale in my family. Story has been told a million times, and I can assure you it would mean a lot less if the coin were not present at the conclusion.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
As has been said-depends on what it is. I sold my set of major doubled die Washington quarters for just over 25 grand. Most were cherrypicked and the rest were obtained with other coins I cherried. The total cost to me was under 2 grand so, even tho I loved those coins, I was happy when all was said and done.
I agree with this. If you have no immediate need for the money, keep it and see if it keeps making you as happy as it does now.
I don't know about virtually irreplaceable most coins can be replaced. But if price is what you are talking about it can be herded for some to spend that kind of to buy a coin in the $5K $6K range but that is what makes Cherry picking so fun and lucrative to some. You can do very well in Cherry picking as long as you know what to look for.. Now for me I pick a lot and if I don't like what I'm picking I'll sell it, if I like it at that time I'll keep it around for a bit but I don't know for how long.
That's just me dumb Type2.
Hoard the keys.
FWIW, I have kept every one of my major cherrypicks over the last 20+ years.
At some point, I'll let them go, maybe if I ever get into a lower tax bracket on long term gains.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
My rule is that if I cherrypick something in my area of interest that I couldn't afford to buy or replace, I keep it.
What is now proved was once only imagined. - William Blake
I just realized you’re on wxactly 26,000 post. That’s pretty cool
This!
I like to parlay my picks into more picks. In the case of "irreplaceable" $5-6k might be a bargain today.
I decided to keep it. 14+ years now, only 3 more examples have turned up so far..
https://forums.collectors.com/discussion/224321/new-variety-draped-bust-half-dollar-1807-o-115-discovered-here-prev-unknown-obv-12-not-described/p1
Liberty: Parent of Science & Industry
A few years ago , I was on a quest for Large Cents. My Cherrypick was an 1802 1/000 error PCGS as VF35. That was also a highlight for the series for me. Last year I sold all but the 1802, I just couldn't part with it . after about 6 months, the 1802 had lost its flavor, I finally wound up selling it off. I made a nice profit on the series as a whole and I thought about it for a while but my real motivator is wheat pennies. Selling the 1802 and my 1909 SVDB VF 30 allowed me the pleasure of buying an MS63 1909 SVDB that I really cherish. I have that 1909 in a lighted Showcase sitting right across my desk. If its not what you collect, sell, take the return and buy something you've longed for.
Bob Sr CEO Fieldtechs
I did that very thing. One in particular is still king top pop.
I have Made a few finest known in my series, then sold them. Deep regret. If I could time travel to then and punch myself in the face, I would.
Unless you are hurting for the money DO NOT LET IT GO.
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
I once cherried an R5 1798 large cent, sold it to a major EAC dealer, then went back to the original dealer and used the profit to buy an 1810 that I needed for my date set.
So...are you gonna tell us what it is?
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Sell if it is out of my league.
I bought some raw Ike's off e-bay, and score an MS67 clad Ike. It was pop 7/0, and valued at $4K. While I collected clad Ikes, that coin was worth more than any other coin in my collection, including a chain cent, flow hair dollar, and MS/proof seated coins. Yeah, I sold.,
honestly, take the coin, and flip it.
heads you sell it.
tails, you keep it for whatever amount of time and revisit
let the universe decide
I have unfortunately.
desperate times have called for crying the whole time in my world anyway
If it was something that I needed for my set and I couldn't find another one, as nice, especially at that price, then I would definitely keep it.
PS-I have taken my own advice and done precisely that many times.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I collect and use Leica rangefinder film cameras. My holy grail has always been an M4 model with Black Paint finish. They only made about 4000 and nowhere near that many exist now.
Fast forward to the beginning of last year and I had the opportunity to buy one that came into the camera shop I work at. It’s only the second one I’ve ever seen in the store in 19 years. I sold my digital kit to buy it, got a good deal. I paid about $2800, they’re worth about $3000. If it was chrome instead of black paint, it’s worth $1000.
After a lot of research up to now as I’ve been using it, I’ve come to the conclusion it’s actually a very early serial number version with slightly different but more desirable parts. I’ve only seen one camera with an earlier serial number online and it was only about 10 digits off! So my $3000 is actually a much rarer and collectible version worth around $6000+. I have no intention of selling it nor do I plan on putting it on a shell to admire. I bought it to use and I’ll keep using it and watch the beautiful brass show through little by little as the paint rubs away.
Some Leica collectors think I’m insane and it’s a travesty to keep using it. I think it’s my holy grail and it would be a travesty not to.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
If you are looking at it as something that will continue to increase in value, that isn't a given. Some do appreciate, while many lose value when they fall out of favor, or more are found.
I am a collector, not a dealer.... so I keep my coins. One caution - your cherry pick may be one that is currently sought after, thus the value. These can dive in value quickly when interest passes or more are found. You have not told us what the coin is, so hard to give you better advice. Cheers, RickO
I just got my uncle's Leica IIIa from 1937. Never used a film camera before (I am under 30...). Got a crash course from my father in law and look forward to taking it out. The f stops are weird so I don't have the right light meter for it. Exposure is entirely guesswork.
Here's my acquisition. I collect these McGill medals. The seller described it as bronze. I thought there was a 60% chance it was gold based on the pictures he posted, so I took a chance and snagged it. Comes with the original leather case. These are extremely rare. I know of only one other in gold. Possibly one or two more exist based on other medals in the series.
Dealing in Canadian and American coins and historical medals.
@QCCoinGuy Thread mount Leicas are fun! If you pick the setting closest to the meter you should be ok. When in doubt go with the number on the camera that is lower. Better to give a little too much exposure than not enough.
I don’t know anything about these medals, but it sure looks nice!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
If there are other coins in your collection you do not like as much as your cherrypick, sell those coins first. I had a couple nice cherrypicks 10 years ago that I "cashed in" that I now wish I kept and sold other coins instead.
So, to 99.99% of the collector world, this is worth a percentage of melt, depending on gold content. Probably a good score, but not a major cherry pick.
Sell it, but not til you get some "you sucks.".
If you collect them, then keep it.
If it is a 1916 DDO Buffalo, keep it!
So, what was the pick?
Tell us!
BHNC #203