Love it or Sell it?
drei3ree
Posts: 3,430 ✭✭✭✭
So, here's the dilemma... You're newly retired, in good health, and have enough money to do whatever you want and still leave your children enough cash to pay off there homes, student loans, and all other debt. You've collected wine, coins, guns, art, etc. most of your life. However, coins are your first love. One day, your coin dealer calls and says he has an interested buyer for coin X. Coin X isn't your favorite, but it's top 5. It's also not likely to be offered for sale again (in the same condition) in your lifetime. It's a mid six figure coin and the offer is for triple the consensus value. The money won't change your life...your heirs love you but they couldn't care less about your coins. What would you do? KEEP IT or SELL IT
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"the offer is for triple the consensus value"
THIS is the opportunity you might not see again. Sell it.
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Sell it and buy it back at half price a year or two later when the new owner becomes less infatuated with it and submits it for auction.
sell it:
I always hated selling my core stuff or stuff I like, but have come to the conclusion in recent years, "theres no better time to sell than when you have an eager buyer, whether you could use the funds or not"
In my case I could use the funds for something!
For an offer like that... sell it. You could take a bonus vacation, treat yourself to something that you may not want, but always thought it would be nice to have, treat someone (or several) special to a surprise something. Keep pictures of the coin. Cheers, RickO
sell :
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When it does come time to sell, Do you think you'll regret passing on 3X the value. Just something to consider.
Unless you want it to be one of the highlights of the "Drei3ree Collection" if you plan on selling your collection at auction, I would sell it now
Ask for five time the consensus value then meet at four since the money nor the coin won't change your life.
"the offer is for triple the consensus value."
Sell , sell , sell
sell it and treat yourself to something you been wanting to do for a very long time, sell it.
At triple, you can get a new top 5 coin and have money left over. You don't lose. You get to still have amazing coins, pick up something new and interesting, and have money left over.
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
Couldn’t hurt to ask for a bit more...
I'm leaning toward the "keep it." I look at and enjoy my better coins a couple of times a month and would probably regret selling...
It's your decision, but I would sell it. Get the money while the getting is good.
Since its not your absolute favorite, I vote Sell. Besides the actual money, getting that kind of premium has its own personal satisfaction of getting it right.
Is there another item of interest that is high on your list that you could buy and still have some money left? I would seriously consider the sale if the money gained from the sale could be used as an opportunity. But only you can decide if there is another opportunity.
Experience the World through Numismatics...it's more than you can imagine.
Since it is a mid-six figure coin and you were offered 3x the value I would sell.
If your leaning towards "keep it" I certainly would. You don't need the money. You enjoy the coin. Special coins are hard to find.
My 1866 Philly Mint Set
Sell it and donate your windfall to your favorite charity since you don't really need the money. Something like that could really benefit those less fortunate and you might get even more pleasure from knowing that. Just sayin...chances like that don't come along often.
Jim
If you like it that much, keep it. For me I would definitely consider though that 3x mid six figures equals about 1.5 million, If I read this right. Add a little more to the kitty and find yourself your new number one coin for a couple million. Though one though, I personally don't sell any because I always seem to regret it.
sell it
It's an object. 3X what it would be worth on the open market? I don't love any material thing enough to pass up a gain like that - at that level that is. Of course, if I thought it would appreciate beyond 3X in a fairly short time...but a coin?
Is the so called 3X “consensus value” a truly accurate gauge of what you think or know to be fair market value?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
It hurts me to say it, but...
sell it
BHNC #203
Turn it into a trade for something more liquid (e.g. generic saints) and perhaps avoid taxes for now. Perhaps your kids get stepped up cost basis in the future. Something like generic saints would be easy for the estate to sell.
He who knows he has enough is rich.
There isn't a thing I own, that I wouldn't sell for 1.5x fair value much less 3x.
Anyone want the shoes i'm wearing?
Hmmmmmm. Tough question. It isn't about the money...... but it's always about the money, right?
I dunno. When you're in a rosy financial situation, it all comes down to your priorities I guess. There's nothing wrong with letting really nice things go to new homes once in a while, especially if the new owner is going to appreciate it. I did this (on a smaller scale, financially, but not emotionally) not long ago and I still feel pretty good about it.
I agree with the sentiment of taking the windfall and plowing it back into a VERY significant coin. If you do that, there's a chance that you'll soon have a new favorite.
Sell immediately, if not, sooner!
Dave
sell and don't look back
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Sell it or you will be forever talking about the buyer that got away....Don't succumb to the collector's emotion that if someone else wants it badly, I can't possible let it go.
Commems and Early Type
Don't fall in love with something that can't love you back. That feeling of seller's remorse will fade quickly. However the thought of giving even a dollar of any gains to those money wasters in Warshington might convince me to keep it.
Keep it. While you're alive, it's important YOU enjoy the coin. Your heirs can sell it when you're gone.
It would depend on health and age.
We should have such problems. Sell.
Sell it and buy 2 new coins to fit in the top 5! Or use the funds to start a new set!
@drei3ree can we see this beauty?
The chances of that are very good. How many times have we seen that?
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I agree! Let's see what's causing you so much grief! Ha ha!
Sell, use part of the funds for a family memory/trip, use other portion to find a new coin to really appreciate, maybe a new type of coin(world, old gold, special pedigree, area you never delved into before).
Picture...?
Your playing with us right? Are you some kind of millionaire?
I would sell it in a heartbeat and spend it all on my gf (take her on a cruise).
I plan leave nothing to my heirs Except maybe the house if anything. I have sacrificed enough in this lifetime on their acct. I will die with a smile on my face.
Almost all estates I have viewed the guy did a good job in looking out for no 1 and just left the junk. Perhaps he spent it on a boat, muscle car, girls or all 3.
Sell em off and have fun w what’s left of your life. The bids (market) arent going anywhere any how.
Looks like I am out numbered here. I say keep it. Especially since you don't need the money. I know from experience.....I sold my Seated Dime collection that I spend 40 years assembleing . I still regret it EVERY day and it's been 3 years!
Don't do it!
That's what I say(I want to see it) before I would pass judgement. If you were offered 3 times now who's to say it won't be 5 times next time!
I'd lick it, stick it to my forehead and run around the house singing Na-nana-naa-nah in the nude.
I really don't care about zeros in an account somewhere.
My Saint Set
The dog in your profile pic?
Smitten with DBLCs.
Sell.
I'm not the dog's owner, I'm her caretaker.
But if you want to give me 1.5x the $1 billion she's worth, I'll be right over.
Since you don’t need the money do whatever will make you the most happy. But keep in mind that we’re not here forever and you would be helping your estate/family the most by selling now.
Sell it and smile on your way to the bank.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
OP stated , " The money won't change your life" so keep the stupid thing. It's in your "top five" so you'd miss it if you sold it and....
...as stated...
....The money won't change your life.
Missing the dumb coin ....will.