I’m pretty sure we’ve all lost money on a coin purchase at some point in time. But why dwell on it? You live and learn. What I’ve learned is if you want beauty in your collection, most of the time you gotta pay up for it. So my answer is, yes.
The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
That’s like asking if a football team has ever run a play for a loss lol.
For coins my take it’s all about timing: 1972 - 1989 up, 1990 to now pretty much a slide down. Look at the beating walkers, Dollars, Commems took even from 2015.
I've already lost around $1000 on just one coin this year; every dealer I know takes a loss regularly unless they are super sharp and buy in their shops.
I will probably never know. If I ever sell anything, I won't remember what I paid for it. Even if I remember, I won't care, because if I need the money instead of the coin, I'll take what I can get.
There are non controllable factors causing one lose money on a sale like decrease in BV or CDN Bid (sell pricing basis) decrease. To stay alive in the biz one needs cash flow.
The dollar and commem markets have taken some hits in 2019. The bids aren’t increasing at this point but items close to BV like slabbed common MS 63 and 64 dollars and mod Commems looking attractive with the uptick in silver. Time to bulk up?
Yes! I've only sold 13 gold coins and one Walker some 20-25 years ago and lost money on every one of the gold. I did break even or made a couple of bucks on the Walker. I have not sold anything (in the last 2 years) since I started coin collecting again.
To me it was all well worth it as I enjoyed the years I held those pieces very much.
It depends on if you consider paying tuition a loss or not. I don't consider the tuition that I paid for my B.S. a loss.
If you keep making the same mistake over and over, then it is. Baby steps, not leaps.
Many of them filed bankruptcy as result of 89 coin market crash. A guy in coin club filed bankruptcy in 1998 from post market steady slide after 89 crash.
That market (for US Coins) was just a constant dead slow, down slide. I remember one show the promoters were handing out free greysheets to the public showing tons of minus signs. I was yet to receive that issue in the mail. Many setup (who had paid huge table fees) absolutely livid. I remember one guy looking at a coin “well bid is only xxx”. I asked him if he had one sell me at that - he said no. I told El Stupido “we’ll take your little sheet and go find one.”
Comments
A have lost a lot. I had fun, though!
I’m pretty sure we’ve all lost money on a coin purchase at some point in time. But why dwell on it? You live and learn. What I’ve learned is if you want beauty in your collection, most of the time you gotta pay up for it. So my answer is, yes.
Seems we could frame the question or provide an answer to produce a more encouraging result...
So here it goes
Yes... But the good news was bankruptcy did not come into play.
Experience the World through Numismatics...it's more than you can imagine.
That’s like asking if a football team has ever run a play for a loss lol.
For coins my take it’s all about timing: 1972 - 1989 up, 1990 to now pretty much a slide down. Look at the beating walkers, Dollars, Commems took even from 2015.
I've already lost around $1000 on just one coin this year; every dealer I know takes a loss regularly unless they are super sharp and buy in their shops.
@crazyhounddog That is one eye appealing quarter eagle!
"Got a flaming heart, can't get my fill"
I will probably never know. If I ever sell anything, I won't remember what I paid for it. Even if I remember, I won't care, because if I need the money instead of the coin, I'll take what I can get.
If you buy it right you will never lose money... Or so dealer convention is.
Used to start silver coins on ebay at face value. Occasionally they'd close with one bid. Free shipping!
Liberty: Parent of Science & Industry
Nope. Just on the sale!
There are non controllable factors causing one lose money on a sale like decrease in BV or CDN Bid (sell pricing basis) decrease. To stay alive in the biz one needs cash flow.
The dollar and commem markets have taken some hits in 2019. The bids aren’t increasing at this point but items close to BV like slabbed common MS 63 and 64 dollars and mod Commems looking attractive with the uptick in silver. Time to bulk up?
Some good responses. I have a few (coins and stories) I keep secret.
``https://ebay.us/m/KxolR5
Yes! I've only sold 13 gold coins and one Walker some 20-25 years ago and lost money on every one of the gold. I did break even or made a couple of bucks on the Walker. I have not sold anything (in the last 2 years) since I started coin collecting again.
To me it was all well worth it as I enjoyed the years I held those pieces very much.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
ever lose money buying a stock?
It depends on if you consider paying tuition a loss or not. I don't consider the tuition that I paid for my B.S. a loss.
If you keep making the same mistake over and over, then it is. Baby steps, not leaps.
Did you ever lose money on a coin purchase ?
Hummm?
Let me mull this around for a while.....
Many of them filed bankruptcy as result of 89 coin market crash. A guy in coin club filed bankruptcy in 1998 from post market steady slide after 89 crash.
That market (for US Coins) was just a constant dead slow, down slide. I remember one show the promoters were handing out free greysheets to the public showing tons of minus signs. I was yet to receive that issue in the mail. Many setup (who had paid huge table fees) absolutely livid. I remember one guy looking at a coin “well bid is only xxx”. I asked him if he had one sell me at that - he said no. I told El Stupido “we’ll take your little sheet and go find one.”
ever lose money buying a car? :
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date