Guilt Selling a Coin

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davids5104
davids5104 Posts: 805 ✭✭✭✭
in U.S. Coin Forum

I sold a coin on Ebay this afternoon and I have guilt selling it because I still "need it" for my collection. I had it listed for a big price and it sold for the big price I was looking for. The coin was part of a War Nickel set that I got for 100 bucks and was one of the popular varieties. I sold it because my profit margin was 65X cost.

How should I feel about letting a nice coin go that I made a killing on? Are there coins you all would NOT sell even making such a profit on? Reviewing my collection in my head, I do not have a single coin I would not sell if offered 10X my acquisition cost.

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Comments

  • Hemispherical
    Hemispherical Posts: 9,370 ✭✭✭✭✭
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    Sentimental value or family heirloom.

  • Zoins
    Zoins Posts: 34,489 ✭✭✭✭✭
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    What do you mean by you still "need it"?

    Private Mint News | 2010 Lincoln Reverse Finalists
  • davids5104
    davids5104 Posts: 805 ✭✭✭✭
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    @Hemispherical said:
    Sentimental value or family heirloom.

    In this case, not an heirloom, just a coin from my set that is in progress.... the "need it" is more it fills a slot that I at some point am going to have to refill

    @Zoins said:
    What do you mean by you still "need it"?

    I used the quotes because, I could live without it

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  • Zoins
    Zoins Posts: 34,489 ✭✭✭✭✭
    edited May 18, 2019 4:45PM
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    @davids5104 said:

    @Zoins said:
    What do you mean by you still "need it"?

    I used the quotes because, I could live without it

    Is it part of a set you have or is there any other reason beyond liking it?

    Private Mint News | 2010 Lincoln Reverse Finalists
  • davids5104
    davids5104 Posts: 805 ✭✭✭✭
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    @Zoins said:
    Is it part of a set you have or is there any other reason beyond liking it?

    It is a currently incomplete set I have been working on, that is still incomplete with or without this coin. Nice example of the coin, but I am going to have to reacquire one if I want to complete the variety set

    [Ebay Store - Come Visit]

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  • Zoins
    Zoins Posts: 34,489 ✭✭✭✭✭
    edited May 18, 2019 4:46PM
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    @davids5104 said:

    @Zoins said:
    Is it part of a set you have or is there any other reason beyond liking it?

    It is a currently incomplete set I have been working on, that is still incomplete with or without this coin. Nice example of the coin, but I am going to have to reacquire one if I want to complete the variety set

    I would have kept it unless you think you can replace it for less and be happy. I like going forwards in completeness than backwards.

    I would mind less selling it if I was getting out of the series.

    Private Mint News | 2010 Lincoln Reverse Finalists
  • PerryHall
    PerryHall Posts: 47,748 ✭✭✭✭✭
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    @davids5104 said:
    ........and was one of the popular varieties.

    What popular variety was it? The 1943/2 is the only popular variety that I can think of.

    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

  • davids5104
    davids5104 Posts: 805 ✭✭✭✭
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    @PerryHall said:

    @davids5104 said:
    ........and was one of the popular varieties.

    What popular variety was it? The 1943/2 is the only popular variety that I can think of.

    Perhaps I will back off "popular variety". It was the 1945 P FS-801

    [Ebay Store - Come Visit]

    Roosevelt Registry

    transactions with cucamongacoin, FHC, mtinis, bigjpst, Rob41281, toyz4geo, erwindoc, add your name here!!!

  • Broadstruck
    Broadstruck Posts: 30,497 ✭✭✭✭✭
    edited May 18, 2019 8:03PM
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    At "65 Times" what I paid just about everything in my core collection is available without needing any vodka.

    At that profit level there should be no sellers remorse.

    You should however remove what you sold tonight until the deal is done so if seen there's no buyers remorse.

    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • U1chicago
    U1chicago Posts: 6,993 ✭✭✭✭✭
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    I’ve let go of coins that I really enjoyed. Sometimes it’s just a part of developing your collection. The profit is always a bonus and will help you get the next great coin.

  • Eric_Babula
    Eric_Babula Posts: 448 ✭✭✭✭
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    At 65x what you paid for it, there is no such thing as guilt. Take the profit and buy another one, equal or better than the one you had. If I could make 65x on my coins, they'd all go! :smile: And, if I could get similar ones back for less money, my collection wouldn't suffer, and I'd still be happy.

    Actually, right now, if I could make 2x on much of my collection, it would go! As I re-evaluate what my collection wants to be, I'd have no regrets selling at any type of profit and buying other things I want in my "new" collection!

    Rocking my "shiny-object-syndrome"!!!

  • Stuart
    Stuart Posts: 9,831 ✭✭✭✭✭
    edited May 18, 2019 8:50PM
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    @DavidS5104 This just demonstrates your continued passion for our hobby.

    Enjoy your profits by purchasing something else that you’ll also enjoy owning, as well as buying additional coins with significant upside.

    You’ll enjoy the Fun of the Hunt!👍


    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • Aspie_Rocco
    Aspie_Rocco Posts: 3,872 ✭✭✭✭✭
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    Another will come along. They can occasionally be had for a lot less than you might expect. (801)
    There are a lot of varieties in the complete war Nickel set, some much more rate than others. I would consider the 45 ddr a more popular variety in that series. Many of the Cherry pickers RPMs in that set are quite “rare” or what ever term is used for graded populations under 15.

    https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/

  • oih82w8
    oih82w8 Posts: 13,206 ✭✭✭✭✭
    edited May 18, 2019 10:02PM
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    I just sold some of my Type collection because I needed to pay off a bill. I did not want to, but I needed to. If I did not want to sell something, I would not have put it up for sale.

    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

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  • GRANDAM
    GRANDAM Posts: 8,785 ✭✭✭✭✭
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    I learned a long time ago the best policy is to

    "Take the Money and Run"

    GrandAm :)
  • lkeigwin
    lkeigwin Posts: 16,895 ✭✭✭✭✭
    edited May 18, 2019 9:42PM
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    Yeah, I take the money and run. Then I can't remember the important thing I sold it for. And the coin is gone.

    I have pictures to remind me of my stupidity.
    Lance.

    Coin Photography Services / Everyman Registry set / BHNC #213
  • skier07
    skier07 Posts: 4,833 ✭✭✭✭✭
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    There’s not a single coin in my collection that I wouldn’t sell for 65 times my purchase price.

  • cameonut2011
    cameonut2011 Posts: 10,861 ✭✭✭✭✭
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    @skier07 said:
    There’s not a single coin in my collection that I wouldn’t sell for 65 times my purchase price.

    This.

  • Edthelorax
    Edthelorax Posts: 229 ✭✭✭
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    I think one should focus on what would one pay for a coin as opposed to what they did. My wife always tells me "Now someone else can enjoy it, buy something else you like." I take that to mean , I found that deal once, i can do it again.
    I i got a 55/55 in change, I wouldn't sell it for 1000x.

    http://www.silverstocker.com
    Anyone can PM me Any Time about Any thing.

  • Edthelorax
    Edthelorax Posts: 229 ✭✭✭
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    *IF I did

    http://www.silverstocker.com
    Anyone can PM me Any Time about Any thing.

  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    Since I do not sell coins, I have not had to deal with seller's remorse...however, such a profit margin would lessen my pain if I did sell any....Maybe someday....maybe not. ;) Cheers, RickO

  • mt_msla
    mt_msla Posts: 815 ✭✭✭✭
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    I hate selling. I'm a collector though. Not here for monetary gain.

    Insert witicism here. [ xxx ]

  • 291fifth
    291fifth Posts: 25,218 ✭✭✭✭✭
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    If you sold a war nickel for 65x cost ... celebrate!!!!!!!

    All glory is fleeting.
  • CommemDude
    CommemDude Posts: 2,444 ✭✭✭✭✭
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    I loved my Amazon stock, but when something increases 30% in three months, it's time to say bye-bye.

    MANY people have fallen madly in love with a stock, a house, or a coin when they discovered that someone else wanted it enough to pay a lot for it. Usually it ends in disaster for the love-struck.

    Dr Mikey
    Commems and Early Type
  • davids5104
    davids5104 Posts: 805 ✭✭✭✭
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    I appreciate everyone's comments. I believe I truly isolated the reason for my guilt. The nickel was from a war nickel set as stated.
    I have guilt because I currently can not afford without saving up, for a while, a coin of this amount and so I am saying goodbye to a friend I may not ever see again.

    [Ebay Store - Come Visit]

    Roosevelt Registry

    transactions with cucamongacoin, FHC, mtinis, bigjpst, Rob41281, toyz4geo, erwindoc, add your name here!!!

  • logger7
    logger7 Posts: 9,857 ✭✭✭✭✭
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    I'm curious how you got it so cheap? There is cause for guilt if it were obtained at someone else's substantial loss or through misrepresentation; but not if liquidation to pay bills was the story.

  • davids5104
    davids5104 Posts: 805 ✭✭✭✭
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    It was just an 11 coin war nickel set that sells for 80 to 150 bucks on Ebay or in stores.

    [Ebay Store - Come Visit]

    Roosevelt Registry

    transactions with cucamongacoin, FHC, mtinis, bigjpst, Rob41281, toyz4geo, erwindoc, add your name here!!!

  • ctf_error_coins
    ctf_error_coins Posts: 15,433 ✭✭✭✭✭
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    Do not go into business.

  • davids5104
    davids5104 Posts: 805 ✭✭✭✭
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    My retirement dream is to own a coin store but that's 30 years away

    [Ebay Store - Come Visit]

    Roosevelt Registry

    transactions with cucamongacoin, FHC, mtinis, bigjpst, Rob41281, toyz4geo, erwindoc, add your name here!!!

  • ctf_error_coins
    ctf_error_coins Posts: 15,433 ✭✭✭✭✭
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    @davids5104 said:
    My retirement dream is to own a coin store but that's 30 years away

    30 years from now?

    B&M's are on their way out and the internet is where it is at.

    Wanting to open a B&M 30 years from now seems like an odd goal?

    Why not build an internet business starting now?

  • davids5104
    davids5104 Posts: 805 ✭✭✭✭
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    I sell a few hundred dollars worth of coins a month on Ebay, but a good portion of my 70 coins I have listed for sale are at cost plus ebay's take. One of the hardest parts of being "just a collector" in my opinion is i/we dont have access to inventory by not having a store front

    [Ebay Store - Come Visit]

    Roosevelt Registry

    transactions with cucamongacoin, FHC, mtinis, bigjpst, Rob41281, toyz4geo, erwindoc, add your name here!!!

  • ctf_error_coins
    ctf_error_coins Posts: 15,433 ✭✭✭✭✭
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    There is "inventory" to be had all over the internet. I have many, many sources of material, all online.

    You make money in the coin business buying, not selling.

  • tommy44
    tommy44 Posts: 2,347 ✭✭✭✭✭
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    Every coin in my collection has a price. For some of them I have no idea what that price would be but if a serious buyer came along I'm sure I could come up with a price.

    it's crackers to slip a rozzer the dropsy in snide

  • savitale
    savitale Posts: 1,410 ✭✭✭✭✭
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    It would be very hard for me to sell a coin that was part of a complete set. What is the point of having a complete set minus one coin? I would just have to replace it.

    But it sounds like yours was a special case, where you found a rare variety in a common set. You can easily replace the variety with a common version for a fraction of the cost and pocket the difference. I don't see any reason for regret in that case.

    LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album

  • 291fifth
    291fifth Posts: 25,218 ✭✭✭✭✭
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    @davids5104 said:
    My retirement dream is to own a coin store but that's 30 years away

    The problem is that in 30 years coin stores are likely to be as rare as 1913 Liberty Nickels and collectors may even be of greater rarity than that.

    All glory is fleeting.
  • bidask
    bidask Posts: 14,057 ✭✭✭✭✭
    edited May 19, 2019 11:57AM
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    Sometimes I make money selling a coin.

    However I take losses all the time.

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • shortnock
    shortnock Posts: 522 ✭✭✭✭
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    Selling your duplicate stuff helps/allows your collection to make progress... Selling...get over it.

  • MarkInDavis
    MarkInDavis Posts: 1,752 ✭✭✭✭
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    Acquisition cost is irrelevant. It is in the past. The question is would you rather have it or the money yo got for it? Although it is a moot point now as you have sold it. Never consider your acquisition cost in determining a fair market value of a coin you are contemplating selling. The buyer cares about what he is paying for it, not what you paid for it.

    image Respectfully, Mark
  • tommy44
    tommy44 Posts: 2,347 ✭✭✭✭✭
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    A dealer that I respect a lot once told me "if you were happy when you made the sale never look back".

    it's crackers to slip a rozzer the dropsy in snide

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