Hey Anaconda-How do I get stupid money for coins I paid stupid money for?

MadMonk · March 3, 2003 5:44AM

Got any advice?

Clankeye · March 3, 2003 5:49AM

You have to buy a secret list of stupid people. It's very, very expensive because all the dealers know it's a goldmine.

I will probably be shot for even mentioning "The List." Forget I said anything about it.

Clankeye

gmarguli · March 3, 2003 6:04AM

If the coins are MONSTERS, then there is a LONG line to the right.

If you were just stupid and the coins aren't worth it, then you are screwed.

MadMonk · March 3, 2003 6:14AM

<< <i>If the coins are MONSTERS, then there is a LONG line to the right.

If you were just stupid and the coins aren't worth it, then you are screwed. >>

The coins are nice. Not all go into the monster category, but all are better to much better than average.
I actually only paid semi-stupid money for about 5-10 out of about 60 coins. Just cause for years I coudnt find a nice piece, so when I found one, I paid basically full retail.

vam44 · March 3, 2003 6:20AM

Stupid is as stupid does...

Bear · March 3, 2003 6:38AM

Its just lucky I am a bear , or for sure I would be on the

stupid people list.

IrishMike · March 3, 2003 6:47AM

Utilize the greater fool theory.

Lakesammman · March 3, 2003 6:57AM

Sell them to me for a buck - that would be stupid money....

paigowjohnny · March 3, 2003 6:59AM

Put 'em on eBay with the caption..." L@@K...LQQK...Monster toned unsearched estate gem blast white free shipping !!!"

CLASSICS · March 3, 2003 7:11AM

theres one born every minute. ah yes, yes indeed.

Baley · March 3, 2003 7:12AM

actually, put them on eBay with stupid start prices or reserves, and let em sit until someone steps up.

if you paid Stupid (smart) money for Stupendous coins, they will sell, possibly at a profit for you!
if you stupidly paid stupid money for stupid coins, then you will have to sell them for a stupid loss.

sinin1 · March 3, 2003 8:31AM

I am not sure eBay is a good place for stupid coins - unless you can take very good photos -> it sounds like the big shows are where you need to go and get stupid money -> from dealers that have access to their stupider money client lists that are looking for what you have.

The hard part is looking the dealer straight in the eye and asking $500 for a $50 greysheet dollar because it has stupid color - and when he laughs (or she in Laura's case), smile walk away and do it again (and again, and again, ....)

Tonekiller · March 3, 2003 8:40AM

<< <i>Its just lucky I am a bear , or for sure I would be on the

stupid people list.

>>

+

Bear, you are a fast learner!!

SouthernBelle · March 3, 2003 8:49AM

Dear Members,

I don't know if stupidity is the core of the issue. I would prefer to make an analogy to drug addiction. You first spend a lot of time and effort creating a market, which requires identifying something that gives people a quick "high". Slowly introducing more and more of the drug into the market, cleverly marketing the product, and expanding your user (addict) base. Once you get enough people hooked on the product, the market becomes self-sustaining. Create a godfather image, cleverly create a base of small-time and mid-level suppliers, and get the money machine rolling. Eventually the addiction may even become acceptable - especially if you can keep the competition out by labeling a major portion of the market (the portion you don't control, as evil, or at least not authentic). Perhaps some of the addicts are stupid, but my guess most of them aren't, they are just hooked. It's a much more complex game then some would like you to believe. Of, course, I'm probably all wrong, just my silly little girlish head.

Baley · March 3, 2003 9:04AM

Valuation of Collectibles, beyond what's published in the price sheets, is subjective. the more subjective, the "stupider" a high premium will seem to those who don't think it's "worth it"

to me, coins like the 1913 nickel, 09SVDB, 1943 copper, 1804 dollar are not "worth it", and not simply because I can't afford them, even if I could afford them, I'd rather spend the money on different coins.

similarly, beautiful toning, while desireable to me, is not "worth" what it costs for the pieces I would want, so I choose not to "afford" them. there is too much demand to compete for the coins with all the money chasing the very very best, have to move down the quality ladder to get me some value,

similarly, with respect to ultra high grade modern coins, I would rather have a nice, uncirculated kennedy half set in an album than one MS69, and I would rather have a whole set of unc and proof Ike dollars in an album rather than one MS68 coin. thats just me, I'm sure people who feel the opposite are very happy with their coins, and maybe they think I am stupid for my choices, i dunno.

alls i know is, in the collectible field, the more esoteric an item, and the more "special" premium attached to it, the harder it is to find a buyer who will pay "stupid" money for it. not saying there's no buyers, it's just a liquidity issue. you have to hold out for your price and find someone with the same subjective taste as you to take it off your hands.

more ordinary pieces are more liquid if you need the money in a hurry.

jamesfsm · March 3, 2003 9:48AM

"more ordinary pieces are more liquid if you need the money in a hurry."

This statement is NOT true.

Try selling 50 white, common 1881-S MS65 PCGS Morgans for around $5,000 compared to selling a few monster toned Morgans of the same date, grade and service to get the same $5,000. The monsters will sell immediately while you'll need to sell the ordinary pieces slowly, over time, to get decent money.

braddick · March 3, 2003 9:56AM

Better to have a box of twenty beautiful coins you overpaid for than a shoe box full of 200 slabs you "bought right" because really, no one else wanted them.

What will you be more proud of in ten years?

Baley · March 3, 2003 10:04AM

well, i guess it depends on BY HOW MUCH you "overpaid" doesn't it?

and just HOW MUCH you paid for your monsters vs the box of normal coins.

yes, I'd rather have 10 monsters than 100 white ones

would I rather have 1 monster than 100 white ones?

how about 1000 white ones?

at some point, you can overpay by so much that finding a stupider buyer is tough.

Ronyahski · March 3, 2003 10:45AM

SouthernBelle - I don't get your analogy. You seem to be comparing drug addiction to the overall coin market. Are you a part of it, and where do you fit in the analogy? An addict? A social user? A drug enforcement agent?

ANACONDA · March 27, 2003 1:30AM

If you have coins that generate the "mother of all coin lust urges", send them to me. I can capture the
beauty of the coin (that which removeth all common sense) and sell the coin, charging a modest sum.

adrian

Zerbe · March 27, 2003 1:35AM

And don't forget the beautiful holder !!!!!!!!

MadMonk · March 27, 2003 2:21AM

<< <i>If you have coins that generate the "mother of all coin lust urges", send them to me. I can capture the
beauty of the coin (that which removeth all common sense) and sell the coin, charging a modest sum.

adrian >>

I guess we need to talk.

ANACONDA · March 27, 2003 5:05AM

They can indeed be held by the beautiful holder.

ursabear · March 27, 2003 12:01PM

Anaconda, MadMonk,

This was a serious weirdness experience. I'd forgotten about this thread and re-read it when it TTTd.

I thought for a second (as I re-scanned the posts) that Greg(TM) was back.

relayer · March 27, 2003 3:16PM

I saw the same ghost

BTW: Coins trade in a circular queue. To make money, you have to sell it to somebody dumber than you. Once the stupidest person owns it, it then gets sold at a big discount to a dealer and the cycle starts over again.

ANACONDA · March 27, 2003 3:48PM

So, coins never end up in collections where they are enjoyed by their owner for years to come?

Everyone violates what seems to me to be one of the basic guidelines for enjoying numismatics which is buy the best and hold for the long
term?

It seems to me that ugly and average coins go from one hand to another but that the really gorgeous coins get held for longer than a few years.

adrian

PQpeace · March 27, 2003 3:49PM

Greg is back ??
how did that happen ??
welcome back,
Larry

braddick · March 27, 2003 4:12PM

<< <i>Greg is back ??
how did that happen ??
welcome back,
Larry >>

Larry, take off your gas mask, it was just another false alarm.

Hey Anaconda-How do I get stupid money for coins I paid stupid money for?

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