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Do you remember the first coin you hesitated on because of price?
MWallace
Posts: 4,333 ✭✭✭✭✭
Mine was an 1883 No Cent V-Nickel in XF/AU. Price was $6. It was the late 1970's and I was making less than $20/day so $6 was a hefty sum to me. I still have the coin.
Edited to add: I thought about it for about 2 weeks before taking the plunge.
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No doubt it was a 1950D Jefferson Nickel back in the early 60's when I was just starting to collect. I don't remember the price but it was the key Jefferson back in those days and as a 10 to 12 year old kid, I couldn't find it in change and couldn't afford to buy it from the local coin shop.
Funny thing now is I don't have my nickel collection anymore but I do have a 50D in MS66 PCGS which I bought maybe 10 years ago. (It's the only Jefferson nickel I have in my collection) Not worth much but I guess the hunt for it "back in the day" must have affected me.
A CC Morgan dollar!! I thought those would be out of reach forever!
Yep, first collectible coin I bought, and tripled my money within 6 months.
No Way Out: Stimulus and Money Printing Are the Only Path Left
The Octagonal Gold Pan Pac.... still hesitating...
Cheers, RickO
What was it?
I walked away from a 1938d Buffalo Nickel graded MS67+.
Must have been CAC'd but at $1250 made me pucker up a bit.
Still holding off.
Probably be as close to a MS68 that I will see.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Yes, it was just last week! 1883-CC Morgan, MS 66+ blast white. Way north of $1000.
Oregon exchange company FA2 should have gone the extra mile and sold a kidney
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
I was offered a fifteen cent piece that I NEEDED for my collection.
That price was I think about 4 grand. It was way more than I could afford at the time.
Because I did not buy that piece, I decided I could not complete my set and thus I decided to sell it all and become an error coin dealer.
It turned out to be a fantastic move.
I was at a FUN show in Orlando in the early 1980's. I saw an 1849-D Gold $1 in a nice XF-AU at Bob Medlar's table. I passed and then came back later to buy it. It had been sold.
Probably the first coin I ever had to pay for, and nearly every coin since.
Every once in a while a ‘no brainer’ comes along, but in general most of my purchases tend to be thoughtful decisions.
I hesitated on this one in probably 1973 or so, instead of picking up several BU Franklins. At the time I was earning $5 to mow an acre of lawn.
On advice of my investment newsletter (Peter Schiff) I bought three 2006 proof gold buffalos from the mint for $600 ea. Following his advice I joined PCGS and submitted for grading. All came back PR70. Flipped for $1800 each on ebay. This was my intro to mint moderns, grading and flipping.
No Way Out: Stimulus and Money Printing Are the Only Path Left
PR40 Gold Norse. I Didn't want to walk away but was strongly encouraged to by my wife
Lafayette Grading Set
Yes-a 1937-D 3 legged Buffalo 5c in VG for $35 back in 1961 when I was 12. I did end up getting it via lay-away.
An 09-S VDB cent for $135.00. I had a paper route so it was a dream coin at that time.
Probably a 34-S Peace dollar in MS. It was the last coin I needed to complete the set and probably 3 times more valuable than any previously purchased coin.
It was fun to finish, but it and the others were sold long ago.
In 1962, shortly after I started collecting I recall agonizing of the cost of a BU Mercury dime from Empire Coin Company. I think the price was in the $2-3 range. At about the same time it was a stretch to buy a copy of the 1963 Edition of the Red Book for $1.75 in June of 1962.
This gal! First MAJOR purchase. Old NGC Fatty MS65.
A 1921 d walking liberty vf for $220. Didnt pick it then. Got one now, but it cost a bit more. 5X more.
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1893 S Barber Half, raw G-VG. First coin I ever bought.
Yes. First coin I ever bought. It was a 1910 Barber dime. I was 8? years old. The cost was probably around 25¢. Big money. After careful consideration and begging mom for additional funds I bought it. I still have it. The reverse is a slick. I loved it then and I still do.
Yup, remember her well......
Sure do...….It was a 1925-S Buffalo in f-vf raw for 5 bucks. That was back in the early 70's and I hadn't "bought" many coins yet.
1896-S Barber half dollar selling for $110 in barely F12 back in 2000. My wife thought I was crazy for spending $110 on an old beat up looking coin. I thought that myself. Once I broke the $100 mark, it was all down hill from there.
Not my first but my most memorable hesitation I guess.
There's a certain error coin I want that is VERY scarce. I know of only 5 specimens, but there is the possibility others could be out there of course. About 10 years ago the best and certainly most desirable example I've seen in existence was up for auction and was priced in the 4 figures at about double what I would value it at the time. I thought about it for a bit but ultimately didn't bid. The coin sold and has not reappeared since to my knowledge. I really regret not giving it a bid. I do now have an example and it's OK, but it's a far cry from the one I let slip away.
For the record I will answer zero questions about these coins and what I'm looking for, I don't want any competition.
A 1916-D dime in Good. Price at the time was $90.00. Alot for someone earning $3.20 an hour.
I'm always impressed by your collector to dealer story. I was wondering what your prior line of work was, if you don't mind sharing it.
Yes! But I thought maybe expensive price has high quality. After all, it has complex crafts.
It took me 2 years to pick up my first trade dollar. I seen many ok coins but all over 1,500 so with all the fakes felt I was not qualified to pull the trigger. Finally picked up a 5 coin ungraded set from reputable company and am pleased to have them. Not the Grades I want but authentic.
Best place to buy !
Bronze Associate member
I was at the O'Hare Antique show in Chicago and happened to notice the 1999 World's Fair of Money Show next door. Picked up some literature including a free book on Commemorative Coins. For three years I dreamed about owning one and finally pulled the trigger in 2002 buying a MS64 Hawaiian as my first coin. Back then there was a lot of talk about coins being an investment vehicle. After picking what I thought was the best from three MS64s and three MS65s, the dealer pulled out from the vault a 1916-D Full Band Mercury Dime and a 1916 Full Head Liberty Standing Quarter which were both PCGS MS64 and I believe fairly priced. Obviously, I was no in position to buy them; but, I wonder to this day if I had missed an opportunity,
Far from my first purchase, but several years ago there was a very decent example of the "Vote The Land Free" counterstamp on an 1840s large cent on eBay. I had put in a few halfhearted bids on others and although I was hesitant, I really wanted to get it over with. So, I went crazy and won it for just over $200. That was a very healthy price then and is still pretty solid, but I have seen lesser coins go for more since then.
I still cringe a bit at the price but I have never regretted it.
This was about 25 years ago I was 9 years old and my dad was about to go to a show so he had his inventory at home. I was flipping through the dollars because after looking in the Red Book I decided I wanted one. I found a 1904 for $100 which according to the book was a great deal. I think my allowance was a few dollars a week at the time so it was a lot of money for me. I bought it. A few years later I sent it to PCGS and it graded MS63.
I am a master professional nature photographer for 40 years now.
During the great recession, it became clear that high-end nature photography pricing was being decimated by giant corporations. No way to make a decent living ANYMORE in that field. Big Business destroyed the market.
I made a conscious decision to became an error coin dealer. Much better and faster cash flow. Way easier business to run.
Being a professional photographer, gave me an edge because imaging is so important for internet transactions. My photo skills make it easier to sell my coins
I still do sell nature photography, but fortunately or unfortunately all of my time, money and thought goes into growing my error coin business.
So you make your living off of other peoples' screw-ups....
That's one heck of a business plan, sort of like an autobody repair shop.
No, I make a living off of skill.
Many coins! But I remember this one. I walked out of the show. Then I went back in to buy it.
100% Positive BST transactions
All I have.
Back in the 1990's I saw a 1918/7-D Buff in my local dealers display case. He just got it in and had it priced at $500.00. That was a VG price back then.
I argued and argued and argued that there wasn't enough Horn to justify that price. He wouldn't budge.
I wanted the coin badly, so I gave in and bought it. Before taking it home I had it slabbed.
It came back PCGS G-6, and when I showed the Dealer, of course He had no comment.
I'm still glad I bought it.
Pete