As a collector, why do you care if you get a "deal"

Coppernicus · December 5, 2003 5:55PM

This has always bugged me. If I see a coin that I want, I mean really want, I'll pay up for it! Throw out Blue/Grey Sheet, Trends, PCGS, etc. I want it, I buy it. Maybe I over-pay but so what? Only if I think like a dealer will it matter. As a collector, I think, "Hey, I've got it, so why should I care that I paid a bit too much?"

Everytime I see a thread announcing a great "buy", I want to ask the originator, "Do you like the coin?" If you do and you got it "cheap", great and more power to you. But really, as a collector, why should it matter?

Thoughts?

Mike

CaptainRon · December 5, 2003 6:37PM

uuummmm, so I can buy more coins that I really like.

Actually the purchase is a big part of the fun for me, I like to hagle back and forth. It's not like I can go and do this when I go shopping at Home Depot, or Marshal Fields.

greghansen · December 5, 2003 6:41PM

why should it matter?

Because money is a means of exchange and can be used to buy other goods and services other than coins. I need to care how much I spend on a coin...even one I 'really,really, want', because whatever amount I agree to pay for the coin, means that money isn't available to buy something else.

If I see a ______ that I want, I mean really want, I'll pay up for it!

I took out the word 'coin' to make my rather simple (and I would think self evident) point. You can say the same thing about any good or service. You can insert the word 'car', 'home', 'painting' or any other tangilbe item. You can take the attitude that 'hey, if I really, really want it, or like it, it's O.K. to pay more than fair market value'. In my world that is called impulse buying, and in the world I grew up in (one of limited means and where choices about how to use money had to be made all the time) that kind of thinking just never got incorporated into my value system.

I ALWAYS care what I spend for not only a coin, but any other goods and services as well. It's just in my value system.

Skipper53 · December 5, 2003 7:09PM

Everybody's financial situation is different.
Every coin collector's situation is different.
Some collectors are only interested in finishing a set.
They're not that worried about a "deal".
Other collectors look at the hobby as a potential investment.
For them , getting the best deal on a coin translates into a
substantial profit if and when the time comes to sell.

I see nothing wrong with either approach.
i have to give a "thumbs-up" to anyone who gets some
enjoyment from collecting coins.

hamiltonjh · December 5, 2003 7:14PM

for me...simple matter of budget and right along with CaptRon.

Of course there is a profit margin to be considered (seller wants to make some money whether dealer or private and thats to be expected), but I have only X dollars to spend. Maybe I can work a deal and get a good price for 2 coins vs 1. But, I've spent more than I should have too because I've wanted THAT coin NOW before someone else gets it.

Jody526 · December 5, 2003 7:15PM

Greg Hansen pretty much said it all. The only thing I could add to that is this: All my money comes from what I earn as a labourer. If you have to do much of that, you'll learn the value of a dollar.
So therefor, I simply can't afford to not look for bargains.

hoardmonster · December 5, 2003 7:29PM

Nothing personal Coppernicus, but this strikes me as being a rather silly question. IMHO unless one is very wealthy, it doesn't make sense not to care what one pays for a coin or anything else.

Bochiman · December 5, 2003 8:06PM

What others have said.

Also, why should I NOT care about padding the dealer's pocket unnecessarily?
Seriously, everyone in business needs to make a profit or else they shouldn't be in business, but, I really disagree with the pricing on some items. Coins priced by certain dealers fall into that category.

I am not rich. I do impulse buy at times, but there is a limit. I would love to have a boat, and I could buy one. I would then be very hungry (no food) and lonely (wife would be POed at me at the best, and leave me at the worst) if I did buy one. Same with a convertible car.
Those 2 things are more usable (maybe not as nice to hold) as a very nice coin, but i still don't just go buy them. Would you pay whatever was marked on the sales tag on a new car? If not, then why not if you really wanted it?

Commodities are generally not negotiated. Things that are not commodities are negotiable.

But, Coppernicus, I realllllllyyyy wish I had some coins in my possession that you wanted

razorface1027 · December 5, 2003 9:14PM

Greysheet, along with other references, is the best thing that my money could buy. My money, accompanied by me, was purchasing at ebay haphazardly and spending too much on,... Yup, those coins I wanted bad enough to pay just about anything. One day I cried out what the *#*#@% am I doing! Deals you ask? Sure, why not! Now that I have some type of numismatic reference, including those people with greater expertise about these boards I'll add; I now have piece of mind admidst the "Shark feeding frenzy" at ebay b-4 I spend too much money, a grip on the shillists(not everyone's a shillist), and most of all I have BARTERING POWER(I can now keep a watchful eye on vendors that have what I WANT/NEED that they can't sell and make a SOUND proposal for the coin I NEED/WANT today)...I'm merely a collector looking out for my MONEY'S interest...

....DEALS?..HELL YEAH!...

itsnotjustme · December 5, 2003 9:46PM

I need to care because myself and my family have future financial needs. I'm not saying I buy these as investments. I'm just saying:

1) My coin budget is limited
2) I care about the value at sale time--could be 1-2 years out if I buy a better coin, could be my grand kids in 50 years.
3) I carry insurance on my collection--it would be hard to insure for way above value.

That all said, I do my best to not buy coins that are ugly or low end for the grade. I'll see a Heritage auction of say an MS63 Seated half going cheap, and when I see the picture of an over dipped washed out piece of dull silver, I wonder why anyone will pay what they are, regardless of sheet value.

MSD61 · December 5, 2003 11:02PM

Unfortunately, it's a matter of budget with me also.

RYK · December 5, 2003 11:13PM

Mike,

I agree with your point. To some extent, you get what you pay for. In the old days, when I thought I was getting a rip, what I actually was getting was an overgraded raw coin or low-end slabbed coin for the grade, and I probably paid fair value for it. I have learned that for me it is better to buy fewer coins and pay up for nice ones than to be always on the lookout for "the deal."

BAJJERFAN · December 5, 2003 11:16PM

Since most of us are not filthy rich we must be mindful of what we pat for things including coins. I suppose there are situations where one might throw caution to the wind but I would expect that those are few and far between.

<<"That all said, I do my best to not buy coins that are ugly or low end for the grade. I'll see a Heritage auction of say an MS63 Seated half going cheap, and when I see the picture of an over dipped washed out piece of dull silver, I wonder why anyone will pay what they are, regardless of sheet value.">>

As far as price guides are concerned a 63 is a 63 with no differentiation for a coin that is a "dog" from one that is a "fox". Same with blue book for cars; no distinction between a well cared fored car and the same model beaten to death by a hotrodder. These can be points of negotiation however when it comes time to buy.

BTW the difference between a dog and a fox is about 4 beers.

mozeppa · December 6, 2003 12:31AM

Price doesn't matter to me...i have all the money in my world!

its just not my world............that they sell coins in!

Dog97 · December 6, 2003 12:39AM

<<<why should it matter?>>>
Cause I would rather get a "deal" than get shanked.

XpipedreamR · December 6, 2003 12:42AM

Duh!

lathmach · December 6, 2003 1:34AM

<< <i>This has always bugged me. If I see a coin that I want, I mean really want, I'll pay up for it! Throw out Blue/Grey Sheet, Trends, PCGS, etc. I want it, I buy it. Maybe I over-pay but so what? Only if I think like a dealer will it matter. As a collector, I think, "Hey, I've got it, so why should I care that I paid a bit too much?"

Everytime I see a thread announcing a great "buy", I want to ask the originator, "Do you like the coin?" If you do and you got it "cheap", great and more power to you. But really, as a collector, why should it matter?

Thoughts?

Mike >>

Mike....You Da Man!!
Of course you're right. It doesn't matter one bit that you overpay for coins as long as they're something you really want.
You are one of the few that really has a handle on this coin collecting hobby. It's really too bad there's not more collectors that feel this way.
Please PM me as I have a lot of coins for sale.

Ray

Coppernicus · December 6, 2003 1:45AM

You've made some very good points! I didn't mean to imply that I never look for a "deal", only that there are certain times/coins where it's "damn the torpedoes, full speed ahead!"

Of course I have a budget for coins as we all do - once in a while, though, getting the best price on a particular piece is less important than getting the piece.

Interesting range of thoughts on this - thanks for sharing.

Mike

oreville · December 6, 2003 1:46AM

ROFL.

If it is a very special coin or a irreplaceable coin (in general or to you), you will pay what you need to get the coin. "Bargains" no longer matter.

If it is replaceable and is not a special coin in general then I hust want to make sure I get good value for the money paid. Whether it means a premium coin for premium money paid or an acceptable coin for cheap prices, it doesn't matter.

mgoodm3 · December 6, 2003 2:03AM

I don't care too much about prices as long as they're in the right ballpark. Saving a couple buck here and there won't make much difference in the long run. I will pay higher prices at a small outfit that I like. I would rather keep the small businesses alive than to haggle them out of business.

Baley · December 6, 2003 2:43AM

Depends on the coin.

Yes, if I'm shopping for something that's common and I have several to choose from simultaneously, I'll try to get the best price. An example would be a gem Morgan dollar or a WLH.

On the other hand, if the coin is rare and seldom offered, and I really really want it, I'll pay up. For example, a certain early half eagle, which cost "all the money" but is my favorite coin by a mile.

Of course, the best of both worlds is the hard to find coin that you get a deal on, such as this one for $300:

paigowjohnny · December 6, 2003 4:04AM

Because EVERYBODY, no matter what they buy, wants to feel like they got a bargain. All the coin people I know love the thrill of a "steal"

As a collector, why do you care if you get a "deal"

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As a collector, why do you care if you get a &quot;deal&quot;

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As a collector, why do you care if you get a "deal"