What do you think of this coin for $5.53

CoinAddict · May 30, 2005 11:58AM

Just picked myself up another ancient. For the price I do not think I can go wrong. It looks pretty cool. So what do you think of it?

coldcicle · May 30, 2005 12:16PM

It looks off to me.

CoinAddict · May 30, 2005 12:24PM

What makes it look off to you? I have never boughten any ancients except for the one I bought yesterday so it would really help me out if you would explain what you see that does not look right to you.

Blackhawk · May 30, 2005 1:01PM

I'm not any kind of expert on ancient coins, but it looks good to me.

coldcicle · May 30, 2005 1:15PM

<< What makes it look off to you? I have never boughten any ancients except for the one I bought yesterday so it would really help me out if you would explain what you see that does not look right to you.

>>

Let me start off by saying I know very little about ancients.With that being said there are two things that make it look off.First there seems to be no lettering on the coin.Almost all the ancient coins seem to have some writing on them.Also the obverse portrait seems a little fake.It just has a look and a vibe that makes me suspicious.The seller seems legit though so I wouldn't worry.

spoon · May 30, 2005 1:25PM

It looks nice and real to me, albeit a bit circulated.. but that's history

If you're interested in ancients there's plenty of drooling material to be found at the various VCoins stores. I've spent hours just staring at all the stuff I can't afford there!

And made a few good buys too. There are some good, affordable deals to be had there, despite most things being high-end material. Some dealers have starter material also, which you may be interested in.

A decent forum for ancient coins (not that we don't have enough knowledgable folks here!!) is Forum Ancient Coins. Really friendly folks there too.

CoinAddict · May 30, 2005 1:30PM

To me it appears that the coin was struck on a planchet that was too small which it why there is no lettering of any kind but a few remaints are visible on the reverse.

AuldFartte · May 31, 2005 2:48AM

I don't know much about ancients, but I like that one

1jester · May 31, 2005 4:05AM

Addict, your title says $5.53 but it looks like you paid only $2.53 for the coin, which is an even better deal!! I know nothing about ancients, but this coin appears authentic. Enjoy your new collecting direction! It's amazing you can get so much history and beauty for so little.

CoinAddict · May 31, 2005 4:23AM

It was $3 for shipping so I went ahead and included it since I had to pay it also. I will get some pics of both of the ancients I have bought when they arrive.

CIVITAS · May 31, 2005 5:34AM

<< It was $3 for shipping so I went ahead and included it since I had to pay it also. >>

Good for you. It's amazing how many people think this cost just disappears. (Auction buyer's fees too.)

There is nothing wrong with that coin. Coins of this period (mid 3rd Century) suffer from miserable strikes and severely worn dies. The legend is there on both obverse and reverse, just very mushy due to a bad strike. The coinage was going through a period of severe debasement. Salonina was the wife of Gallienus. During his reign, the antoninianus went from being a silver coin that was probably 50-60% pure to a bronze coin with a simple silver wash on the outside to make it look silver.

1jester · May 31, 2005 7:25AM

I realize the shipping cost of a coin adds to the total cost, but I prefer to not add that cost to my own records, just like when I go to the store and buy a pair of Levi's, I don't go home and say I paid $35 plus $2.45 in gas plus whatever wear and tear on the car. I look at it as a matter of semantics rather than a true reflection of the cost of the coin, that's all.

CIVITAS · May 31, 2005 8:10AM

That's true. And as a collector, that's certainly good enough. And I wasn't necessarily digging on you.

But surely as the savvy bidder you are, if two eBay sellers were offering the exact same coin with similar eye appeal and you were willing to pay $50.00 max for that coin, you'd consider shipping if one seller charged $2.00 and one charged $7.50.

As a dealer, I do have to remember these little add on costs, otherwise if my markups are too small on items, I just slowly tread backwards into bankruptcy. For example, in any given European auction we bid in, we have to take into account the fact that we will be paying overseas insured/registered shipping ($20-$40), a conversion fee for currency (avg. 3.5%), a $20.00 charge from my bank for a foreign draft (sometimes a 10qd. charge from British auction houses to pay for their bank fees for accepting a foreign check). Taking all this into account, if we don't think we have a reasonable chance of picking up enough inventory to resell for at least an easy $300.00 gross profit, we don't bother bidding since it's very plausible we may need to pay $100.00 in costs not necessarily directly related to the coin. I consider the remaning $200.00 gross as a breakeven proposition when time, market risk and opportunity cost are assessed.

1jester · May 31, 2005 8:18AM

Yes, Josh, I knew you weren't ragging on me! I'm glad you stated the point so succinctly for all those others...

XpipedreamR · May 31, 2005 10:13AM

Hey, that's pretty cool...and you can't beat that price for a little chunk of history!

coldcicle · May 31, 2005 10:47AM

<< 
Good for you. It's amazing how many people think this cost just disappears. (Auction buyer's fees too.) >>

They only disappear when the significant other needs to know

lathmach · June 2, 2005 12:31PM

Nice looking coin. I never got into ancients though.
Jonathon Kern deals a lot in them, and I asked him once how a person could know for sure they were real.
He said, "be there when they dig them up".

Ray

lordmarcovan · June 2, 2005 12:37PM

<< What do you think of this coin for $5.53 >>

Crudely struck, but nice- especially at the price! Clear portrait and devices, even if the lettering is typically mushy.

<< For the price I do not think I can go wrong. >>

Philip · June 2, 2005 8:32PM

<< I realize the shipping cost of a coin adds to the total cost, but I prefer to not add that cost to my own records, just like when I go to the store and buy a pair of Levi's, I don't go home and say I paid $35 plus $2.45 in gas plus whatever wear and tear on the car. I look at it as a matter of semantics rather than a true reflection of the cost of the coin, that's all.

>>

Not exactly. Inventory should be recorded at cost, which is purchase price + all other direct costs. Shipping costs or gas for the car are direct costs, while the wear and tear are an overhead and so are expensed rather than capitalised.

I'm off to read for my accounting exam this coming Thursday.

CIVITAS · June 3, 2005 3:23AM

<< 

<< I realize the shipping cost of a coin adds to the total cost, but I prefer to not add that cost to my own records, just like when I go to the store and buy a pair of Levi's, I don't go home and say I paid $35 plus $2.45 in gas plus whatever wear and tear on the car. I look at it as a matter of semantics rather than a true reflection of the cost of the coin, that's all.

>>

Not exactly. Inventory should be recorded at cost, which is purchase price + all other direct costs. Shipping costs or gas for the car are direct costs, while the wear and tear are an overhead and so are expensed rather than capitalised.

I'm off to read for my accounting exam this coming Thursday.

>>

Gasp! Someone else who understands me..... <sniff>

1jester · June 3, 2005 8:09AM

I'm glad there are folks who really dig accounting!! I'm not one of them, however.

As a business owner, I understand the principles, but coin collecting is for me a hobby, so I don't involve myself in bean-counting like Civitas has to.

CIVITAS · June 4, 2005 2:16AM

I just wish I had more beans to count.

What do you think of this coin for $5.53

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