Guilt Selling a Coin

davids5104 · May 18, 2019 4:30PM

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.

Coinstartled · May 18, 2019 4:33PM

Shot of Vodka will make you feel better.

Hemispherical · May 18, 2019 4:33PM

Sentimental value or family heirloom.

Zoins · May 18, 2019 4:34PM

What do you mean by you still "need it"?

davids5104 · May 18, 2019 4:37PM

@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

Zoins · May 18, 2019 4:37PM

@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?

davids5104 · May 18, 2019 4:43PM

@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

Kyle · May 18, 2019 4:45PM

@davids5104 said:
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.

If the coin can be replaced for less than what you sold that example for, I don't think there is any need to feel guilty about letting it go. Take the money you got for it and continue adding to your set.

Zoins · May 18, 2019 4:45PM

@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.

PerryHall · May 18, 2019 4:59PM

@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.

davids5104 · May 18, 2019 5:00PM

@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

Broadstruck · May 18, 2019 8:01PM

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.

U1chicago · May 18, 2019 8:21PM

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 · May 18, 2019 8:32PM

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! 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!

Stuart · May 18, 2019 8:48PM

@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!👍

Aspie_Rocco · May 18, 2019 9:16PM

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.

oih82w8 · May 18, 2019 9:23PM

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.

GRANDAM · May 18, 2019 9:34PM

I learned a long time ago the best policy is to

"Take the Money and Run"

lkeigwin · May 18, 2019 9:41PM

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.

skier07 · May 18, 2019 9:49PM

There’s not a single coin in my collection that I wouldn’t sell for 65 times my purchase price.

cameonut2011 · May 18, 2019 9:59PM

@skier07 said:
There’s not a single coin in my collection that I wouldn’t sell for 65 times my purchase price.

This.

Edthelorax · May 18, 2019 10:37PM

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.

Edthelorax · May 18, 2019 10:38PM

*IF I did

ricko · May 19, 2019 5:17AM

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 · May 19, 2019 5:59AM

I hate selling. I'm a collector though. Not here for monetary gain.

291fifth · May 19, 2019 6:15AM

If you sold a war nickel for 65x cost ... celebrate!!!!!!!

CommemDude · May 19, 2019 6:20AM

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.

davids5104 · May 19, 2019 7:07AM

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.

logger7 · May 19, 2019 8:22AM

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 · May 19, 2019 8:28AM

It was just an 11 coin war nickel set that sells for 80 to 150 bucks on Ebay or in stores.

ctf_error_coins · May 19, 2019 8:28AM

Do not go into business.

davids5104 · May 19, 2019 8:29AM

My retirement dream is to own a coin store but that's 30 years away

ctf_error_coins · May 19, 2019 8:40AM

@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 · May 19, 2019 10:00AM

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

ctf_error_coins · May 19, 2019 10:08AM

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 · May 19, 2019 10:48AM

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.

savitale · May 19, 2019 11:19AM

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.

291fifth · May 19, 2019 11:33AM

@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.

bidask · May 19, 2019 11:41AM

Sometimes I make money selling a coin.

However I take losses all the time.

shortnock · May 19, 2019 12:25PM

Selling your duplicate stuff helps/allows your collection to make progress... Selling...get over it.

MarkInDavis · May 19, 2019 12:56PM

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.

tommy44 · May 19, 2019 1:03PM

A dealer that I respect a lot once told me "if you were happy when you made the sale never look back".

Guilt Selling a Coin

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