Instant regrets…
MrEureka
Posts: 24,499 ✭✭✭✭✭
Today was one of those rare cases where I dropped out of the bidding, lost the lot, and almost immediately decided I should have kept going. It’s a 1695 French Louis d’or, struck over an older Spanish 2 Escudos. I’ve never seen one before. Sold for about $6500 all in. I’d have been much more aggressive if the undertype was more dramatic, but I still should have gone higher.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
9
Comments
Did you have a buyer in mind?
Agree
I know a couple of people who would definitely have been interested at some level. But mostly I just liked it, and like it more than $6500.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I didn't know there were Louis XIV overstrikes on to Spanish escudos. Very nice piece.
Sorry to read about this one...
Experience the World through Numismatics...it's more than you can imagine.
Happens to me every time...
Sorry to hear that, hope you will not lose sleep on this. Yu might not see this coin for a long time.
What a cool piece!
Mine doesn't compare to that but I made a royal screwup the other day. I was bidding on a coin online and for some strange reason I thought I was winning a lot and didn't realize the other bidders automatic bid took the lead. So I should have bid higher like you but I thought I was leading....I was sick and still am.
"He is no fool who gives what he cannot keep to gain what he cannot lose."
Jim Elliot
I still wish I had put in one more bid on this. John Agre beat me out and promptly got the coin into a PCGS 63+ holder as it deserved. (I still often think about a fantastic 1803 $10 that Agre also beat me out of but since this is World, I'll just cry quietly into my cup.)
I have a nice, original XF45 that I like a lot but I still think about this coin every time I look at mine.
https://auctions.stacksbowers.com/lots/view/3-17B30A/great-britain-guinea-1776-london-mint-george-iii-ngc-ms-62
chopmarkedtradedollars.com
sometimes you win a gamble other times you lose, all depends on how you play the game
https://photos.google.com/album/AF1QipNmiAijitpq-ZDHsmIgGZ1pmlYcLP-8_hB7JrLk
Nice coin - I missed that one.
This has happened to me as well. All I can think of is “brain fart.”
Maybe not really the point of the thread, but definitely related/the inverse situation...
Described as "Struck over a piece of the Spanish Empire"... Spanish Netherlands? Southern Italy?? Milan??? I've never put much effort into figuring it out - but I've not seen another.
PS - I wouldn't be shocked if another piece semi-like that exists, @MrEureka... after all, much of France's silver coinage in the 1690s was struck over earlier pieces.
It's happened to me too.
I rarely kick myself for not going further because I often bid one level more than I think it’s worth. If I get outbid, which happens about half the time, I feel happy that I’m not buried. I’m not trying to resell anything these days, I offer stupid money because I’m buying as a collector.
People think I’m nuts, but I am happier buying from a dealer than messing with auctions. For me auctions are no fun. They are mostly disappointing. You have grade from photos and then pay through the nose if you get it. People tell me to travel to see lots in person. As far as I’m concerned you end spending travel money and can often end up with nothing.
Have you considered using an agent for auction viewing?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
@lermish
I am curious as to how much different that 1776 Guinea looks in hand in contrast to the image. I am really trying to see how it graded 62... 63+ seems to pass the straight face test. It looks quite attractive. While George III Guineas are available, nice attractive ones are tough with exception of a few dates that were hoarded.
@BillJones
For the real special coins that involve $$$, an agent makes sense as long as that agent understands and appreciates your expectations.
Experience the World through Numismatics...it's more than you can imagine.
@lermish when CRO sold the coin it was in a 62+ holder I think.
@MrEureka it has happened to me a couple times but more often it takes a day or two for the regret to sink in. I know it’s coming when I can’t easily stop thinking about the coin after the auction.
The agents I would have trusted have retired or passed on. I’ve reached the age and the level with my U.S. coins to where it doesn’t matter.
Of course it doesn’t matter. None of this silly coin stuff does. But we’re here to pretend that it does, aren’t we???
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I agree with Bill Jones in that some of us are not in that league anymore. I many times used agents to great effect & this can have more than the obvious benefits, not to say that collision & that sort of thing ever occurs....
Well, just Love coins, period.
The instant regret works in other ways too.
Frequently after winning a coin at auction, I get the feeling of "There are 8 billion people in the world. More than 5 billion of them have access to the internet. Any of those 5 billion could have registered to participate in this auction. It was a public auction and every collector in the world who cares about these particular coins would have been aware of this auction and its offerings. The auction was properly promoted, the catalog description was accurate, and the photos allowed for a good assessment of the coin and its attributes and flaws. And despite that, I decided to bid more than any other fool in the world. What's wrong with me? And how am I gonna pay for this?!"
Fortunately the regret is transient.
Interesting points. Except:
1) Not everyone sees the auction for whatever reason.
2) A potential competitive bidder doesn't currently have the funds to pay for the coin.
3) A potential competitive bidder isn't currently collecting that area, but starts to do so at a later date.
4) The auction isn't properly promoted and/or cataloged and/or the photos aren't good (happens more than you realize).
5) You know (or postulate) something about the potential market for that coin that isn't generally known by others.
See? You aren't a fool! And there is nothing wrong with you! You're welcome for the diagnosis!
Interesting how we all tell ourselves the same lies.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Dr. Eureka, are you insinuating the patient is not well?
This was a really fun read, thanks guys! 😂
I'm BACK!!! Used to be Billet7 on the old forum.