When you’re offered...
...irreplaceable coins at 10% too much because of a unique circumstance, what do you do?
My suggestion is to jump, because that circumstance may never again rear its head.
Comments
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I would gladly pay an extra 10% for something rare that I really desired.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
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Half of Heritage buyer's fee.
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I suppose it would depend on how you came to believe that the coin was 10% too much.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.7 -
It would take more than 10% for me to pass.
Don't ask me what that percentage is.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress2 -
I’d buy if I wanted it. That’s better than what I have experienced in auctions. That’s one of the reasons why I am out of the U.S. coins game. I feel like I have been shilled.
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 ... ?4 -
@tradedollarnut said:
...irreplaceable coins at 10% too much because of a unique circumstance, what do you do?My suggestion is to jump, because that circumstance may never again rear its head.
Ten percent of what value? In your world 10% could be a six figure sum that would buy a nice middle class home.
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Depends, is 10% $100,000 or $100?
Collector, occasional seller
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I think TDN is trying to tell us he bought something.....
Easily distracted Type Collector15 -
@tradedollarnut said:
...irreplaceable coins at 10% too much because of a unique circumstance, what do you do?My suggestion is to jump, because that circumstance may never again rear its head.
Did you manage to finally convince Pogue to part with his 1854-S gold $5 at more realistic price?
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Show some pics, Bruce.
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Sounds like someone bought something...
Got Crust....y gold?0 -
It may be a unique coin, but in the TDN end of the pool they’re are not many buyers either. They may need him as much as he wants (needs) the coin. Reach a arrangement where nobody feels taken advantage of, and leave the door open for future transactions
Just moo standing in the shallows2 -
At 10% over market value, I would jump on it. I was contacted recently about an irreplaceable item and was prepared to pay double market value but I was quoted quintuple market value .......
Member ANA, SPMC, SCNA, FUN, CONECA
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Huh? You've paid far more then that for what you need. 10% is NOT overvalued at all
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@tradedollarnut said:
...irreplaceable coins at 10% too much because of a unique circumstance, what do you do?My suggestion is to jump, because that circumstance may never again rear its head.
It depends on how core it is to my collection. When you look at some exonumia, there's actually too many irreplaceable items! I routinely walk away from R7 - R9 tokens not in my core, while bidding strong on ones I need. An unfortunate situation can happen when something non-core becomes core after declining to buy!
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If you want the coin you should take the +10% bait. I often pay more than 50% for irreplaceable coins .......... if they have spectacular toning.
But given your success with coin arbitrage, a long term holder might find +15% a reasonable price.
OINK
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In many cases even 50% isn't too much!
Collecting since 1976.4 -
@SethChandler said:
In many cases even 50% isn't too much!In some cases, 50% below market is too much! 😉
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What did you buy TDN??
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that is out of my league!
I may have some nice coins but NOT irreplaceable !Pat Vetter,Mercury Dime registry set,1938 Proof set registry,Pat & BJ Coins:724-325-72112 -
@tradedollarnut ...... I am sure you are talking within your league meaning > 10K therefore the 10% premium would be too much for common collector like me
In the other spectrum I would jump even on 30% for those <3K
.... and now would you show us what you have in mind?2 -
What's your timeline for ownership?
Seated Half Society member #38
"She comes out of the sun in a silk dress,
running like a water color in the rain...."1 -
There are irreplaceable coins I would not pay extra for because I don't collect them. For coins that I collect, I have paid far more than 10% too much.
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@tradedollarnut said:
...irreplaceable coins at 10% too much because of a unique circumstanceOxymoron.
Some refer to overgraded slabs as Coffins. I like to think of them as Happy Coins.1 -
"Irreplaceable" items do not have a definable "market value," only a "value opinion."
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If I had the funds to bid on such a coin, I would not have to even consider whether or not to do so for a mere 10%. No brainer.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain2 -
Plus 10% is a no brainer for any collectible that you're collecting UNLESS that 10% eats into your budget for something family related.
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Heck I've paid 10% over value for replaceable coins. For irreplaceable I might be willing to go 15%...
How can you have a set value for something that is irreplaceable anyway?
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10% in your case could conservatively mean up to a half million
Steve
Promote the Hobby2 -
10% ? Did you say TEN PERCENT?
GOOD LORD, MAN...TEN PERCENT?
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in the first place there is no real market value for such a rare coin. Only opinions.
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There is no such thing as "10% too much" for something "irreplaceable" as rarities have a fluid market value. Only widgets have a clear market value.
All comments reflect the opinion of the author, even when irrefutably accurate.
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Who said, 'sometimes you gotta pay up'? ;-)
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Every one has heard the quote "There's no Santa Claus in Numismatics".
But, about 30+ years ago I heard someone say, "The only Santa Claus in Numismatics is the opportunity to buy".
I'm not 100% sure where I heard that, but I seem to thing it was from @FredWeinberg .
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If the piece is really that hard to find, paying only 10% too much does not seem that bad. Of course, if the base price is in the millions, that might cause me to pause.
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 ... ?3 -
I bid 11% over.
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In this market ... never overpay. Curb your enthusiasm.
All glory is fleeting.6 -
@291fifth said:
In this market ... never overpay. Curb your enthusiasm.Agree. I can't think of any coin that I can't live without. Also, I find it hard to enjoy a coin knowing that I over paid for it.
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."----Voltaire2 -
Yes.
Professional Numismatist, Retired. 55 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Winner of the PNG's 2026 Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.1 -
Opportunities aren't endless at the top of the numismatic food chain. 10% more is not too much to pay, if the opportunity doesn't present itself again.
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@MWallace said:
Every one has heard the quote "There's no Santa Claus in Numismatics".I believe you misheard that... it's actually "There's no Sanity Clause in Numismatics".
-----Burton
ANA 50+ year/Life Member (now "Emeritus")
Author: 3rd Edition of the SampleSlabs book, https://sampleslabs.info/10 -
How many % over "market" before it becomes a problem?
How do you define market price on an irreplaceable item?
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If it’s good material and I need its 10% no problem
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/publishedset/209923
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/album/2099232 -
@tradedollarnut said:
...irreplaceable coins at 10% too much because of a unique circumstance, what do you do?Uhhh, every coin in the marketplace for sale is already 10% - or more "too much". This coin sounds like it is already priced right. Pull the trigger.
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@MWallace said:
Every one has heard the quote "There's no Santa Claus in Numismatics".But, about 30+ years ago I heard someone say, "The only Santa Claus in Numismatics is the opportunity to buy".
I'm not 100% sure where I heard that, but I seem to thing it was from @FredWeinberg .
Nice quote but it doesn’t ring true.
Santa Claus in numismatics is at least the cherrypick where you get a You Suck.
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if I liked the coin well enough and thought it would be a good fit into my collection then maybe/yes
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What if your criteria is "the cheapest dreck I can find?"
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I give them my best offer - around 80 - 90 pct CDN Bid if something really want.
Coins are not an addiction for me. If something can’t buy at my price just go in other direction.
My criteria more buy low / sell high. The bids not exactly plussing at 10 pct every week lol. Even a vest pocket trader knows better than use that line “this is a must have” in this market.
Investor1 -
Sounds like a group. One view of thinking is if you resell some in the group you don't necessarily want, you might regain the 10% over value.
A risk vs. Reward situation.0
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