I've paid 50-100% over market for truly irreplaceable coins and later turned down offers of 2-3x what I've paid. It's hard to overpay on a once-in-a-lifetime opportunity.
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Many coins are overpriced by 10% because certain people who think they are special will not buy any coin at the listed price even if it is a fair price, and so the seller has to overprice and then come down.
Numismatist. 54 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. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
This was an instance where I was the potential seller. I was wanting to buy sxcp stock at its low of $9.60 so I offered a couple of precious beauties at cost. No deal was struck because I paid about 10% over market in the first place. I was only willing to sell because I could have made an additional 50% with the money - unless that circumstance comes along again, they’ll not be available in my lifetime.
@tradedollarnut said:
This was an instance where I was the potential seller. I was wanting to buy sxcp stock at its low of $9.60 so I offered a couple of precious beauties at cost. No deal was struck because I paid about 10% over market in the first place. I was only willing to sell because I could have made an additional 50% with the money - unless that circumstance comes along again, they’ll not be available in my lifetime.
A fleeting chance never to return again?
This is the story? I wish I would have bought AMZN at $1.50 also. If I would have sold a few coins back then and bought it, man I sure would have made some money, and they were not "irreplaceable" either.
@tradedollarnut said:
This was an instance where I was the potential seller. I was wanting to buy sxcp stock at its low of $9.60 so I offered a couple of precious beauties at cost. No deal was struck because I paid about 10% over market in the first place. I was only willing to sell because I could have made an additional 50% with the money - unless that circumstance comes along again, they’ll not be available in my lifetime.
A fleeting chance never to return again?
50% gains on stock can come around again. Coins, not so much?
I've been thinking I need to spend more time on stocks than coins. I've been picking up some nice top pop exonumia, but I missed out on a 4.5x gain last year. That could have been more than a few Humbert and Pan Pac slugs
In the fifty plus years I have been collecting, I can only think of one irreplaceable coin that I have seen which I was able to afford. Bruce, you once owned it.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
As the mother in Moonstruck says; "All men do crazy stuff to deny death, but it's going to happen anyway".
Leave your best offer on the table and walk away; you may well hear from the seller in a few weeks.
In 50 years, the oceans will be flooding the beaches and no one will remember anything about this transaction.
lol ...depends how badly you or someone else wants the coin..my friend dealer bids up coins wanted for his 2 whale collectors ,double digits, over value if needed.....I had a rare paper note that went for 3x value.. because someone had to have it
Comments
I've paid 50-100% over market for truly irreplaceable coins and later turned down offers of 2-3x what I've paid. It's hard to overpay on a once-in-a-lifetime opportunity.
For an irreplaceable piece I think it would be difficult to value +/- 10%. The opportunity value is greater than that level of price precision.
Latin American Collection
Been there done that.
I'll go +35% easy if I've been looking for 5-10 years. 10% would be a walk in the park. Strike while the iron's hot.
Dave
Can’t wait to see what it is!
Then you are a sports card collector :-)
ANA 50+ year/Life Member (now "Emeritus")
Author: 3rd Edition of the SampleSlabs book, https://sampleslabs.info/
LOL. He answers his own question yet everyone feels the need to answer it anyway! Must be a nice one!
Many coins are overpriced by 10% because certain people who think they are special will not buy any coin at the listed price even if it is a fair price, and so the seller has to overprice and then come down.
This was an instance where I was the potential seller. I was wanting to buy sxcp stock at its low of $9.60 so I offered a couple of precious beauties at cost. No deal was struck because I paid about 10% over market in the first place. I was only willing to sell because I could have made an additional 50% with the money - unless that circumstance comes along again, they’ll not be available in my lifetime.
A fleeting chance never to return again?
What goes up, must come down?
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
This is the story? I wish I would have bought AMZN at $1.50 also. If I would have sold a few coins back then and bought it, man I sure would have made some money, and they were not "irreplaceable" either.
50% gains on stock can come around again. Coins, not so much?
I've been thinking I need to spend more time on stocks than coins. I've been picking up some nice top pop exonumia, but I missed out on a 4.5x gain last year. That could have been more than a few Humbert and Pan Pac slugs
In the fifty plus years I have been collecting, I can only think of one irreplaceable coin that I have seen which I was able to afford. Bruce, you once owned it.
"Seu cabra da peste,
"Sou Mangueira......."
As the mother in Moonstruck says; "All men do crazy stuff to deny death, but it's going to happen anyway".
Leave your best offer on the table and walk away; you may well hear from the seller in a few weeks.
In 50 years, the oceans will be flooding the beaches and no one will remember anything about this transaction.
Commems and Early Type
lol ...depends how badly you or someone else wants the coin..my friend dealer bids up coins wanted for his 2 whale collectors ,double digits, over value if needed.....I had a rare paper note that went for 3x value.. because someone had to have it
Whos the seller? If they have good eyes then pull the trigger and don't look back.