When you’re offered...
tradedollarnut
Posts: 20,166 ✭✭✭✭✭
...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.
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Comments
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):
https://www.ngccoin.com/registry/competitive-sets/16292/
Half of Heritage buyer's fee.
I suppose it would depend on how you came to believe that the coin was 10% too much.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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 progress
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.
Ten percent of what value? In your world 10% could be a six figure sum that would buy a nice middle class home.
Depends, is 10% $100,000 or $100?
Collector, occasional seller
I think TDN is trying to tell us he bought something.....
Did you manage to finally convince Pogue to part with his 1854-S gold $5 at more realistic price?
Show some pics, Bruce.
Sounds like someone bought something...
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 shallows
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
Huh? You've paid far more then that for what you need. 10% is NOT overvalued at all
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!
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
In many cases even 50% isn't too much!
In some cases, 50% below market is too much! 😉
What did you buy TDN??
that is out of my league!
I may have some nice coins but NOT irreplaceable !
@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?
What's your timeline for ownership?
"Got a flaming heart, can't get my fill"
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.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
Oxymoron.
"Irreplaceable" items do not have a definable "market value," only a "value opinion."
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 Twain
Plus 10% is a no brainer for any collectible that you're collecting UNLESS that 10% eats into your budget for something family related.
U.S. Type Set
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?
10% in your case could conservatively mean up to a half million
Steve
10% ? Did you say TEN PERCENT?
GOOD LORD, MAN...TEN PERCENT?
in the first place there is no real market value for such a rare coin. Only opinions.
@tradedollarnut I couldn't agree more with your statement.
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.
Who said, 'sometimes you gotta pay up'? ;-)
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 .
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.
I bid 11% over.
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."----Voltaire
Yes.
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.
I believe you misheard that... it's actually "There's no Sanity Clause in Numismatics".
ANA 50 year/Life Member (now "Emeritus")
How many % over "market" before it becomes a problem?
How do you define market price on an irreplaceable item?
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/209923
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.
Nice quote but it doesn’t ring true.
Santa Claus in numismatics is at least the cherrypick where you get a You Suck.
if I liked the coin well enough and thought it would be a good fit into my collection then maybe/yes
What if your criteria is "the cheapest dreck I can find?"
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.
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.