An interesting turn of events on a FUN purchase: Has your dealer ever done THIS to you?

percyb · January 18, 2008 2:55PM

Keep the coin.

Unknown · January 18, 2008 4:47PM

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rooksmith · January 18, 2008 5:29PM

It all depends on two things:

1. Did you feel you paid an honest fair price for the coin, or did the dealer make a mistake on pricing?

2. Do you feel somehow obligated give up your coin back to the dealer (whats it really worth to you?? )

and

3. Do you really want the coin, for irrational collector reasons (which money doesnt factor into)

IGWT · January 19, 2008 1:38AM

OK . . . just got off the horn. The offer has been increased to 43% more than I paid. Chances are very good that this is the one and only time that I'll be able to sell the coin for that much money. BTW, in case I was too subtle in my earlier posts (and a few comments make me think that some folks don't understand), I want to make clear that I know what the other collector is offering, not just what the WBD™ is passing on to me. The WBD™ asked for nothing more than a nominal transaction fee, even though he would deserve more if I were to sell.

Russ · January 19, 2008 5:43AM

<< The offer has been increased to 43% more than I paid. >>

Is your post office open today?

Russ, NCNE

Julian · January 19, 2008 5:47AM

If the coin is a difficult coin, you have been looking for one for a while, and is very attractive to you for your collection, there is no question that you should keep the coin.

If it was a lark purchase, then take the profit. But, again, if it was for your collection, KEEP IT!!!!!!!!!

RichieURich · January 19, 2008 5:52AM

Everyone here can provide advice. But it's your decision, IGWT. Do what your heart tells you to do.

JRocco · January 19, 2008 5:53AM

Without knowing what the heck I am talking about.....
Is the piece something that you will be looking for again once you sell it? If so, are you going to be able to find its replacement for a reasonable price the second time around?

Signed,
Confused in NY

rainbowroosie · January 19, 2008 6:00AM

You do have a good dealer; 33% in a day!!! Sell that coin ASAP.

tydye · January 19, 2008 6:09AM

I would sell. I was in a similiar situation about 4 years ago. I received a 1799 large cent in trade. A dealer that I knew offered me about 50% more than I had in to the coin. I passed as I never owned such a coin before. 2 years later I wanted some money for something else. It took a while to sell the 99 and not nearly what the original offer was. Still made a few bucks however and got to own a cool coin for a while though

thebeav · January 19, 2008 8:27AM

<< In my experience, whenever you pass on an offer like this you end up selling the coin years later for a loss. >>

Been there, done that.....I couldn't agree more....

greghansen · January 19, 2008 8:43AM

I guess even though I'm not a dealer, I must have more of a 'dealers' mentality than a collectors. To me its not even a close question. I'd flip that thing in a heartbeat.

pontiacinf · January 20, 2008 9:52AM

do what suits you best, your in the drivers seat

BECOKA · January 20, 2008 10:01AM

If it's replaceable then I would sell.

I have 3 coins that I would need 1000% profit before I would consider selling. Everything else has it's reasonable price.

IGWT · July 25, 2008 10:29AM

Still have the coin, and still enjoying it more than the money. Unfortunately, I haven't found any any gem to buy in my series since January (although I've been lucky enought to cross paths with a couple of nice errors and one or two die varieties).

But maybe something will happen in Baltimore.

MrEureka · July 25, 2008 10:38AM

I'd ask myself two questions:

1. Would I have been willing to pay whatever it is that I now stand to net on the sale? If the answer is yes, then of course I'd keep the coin.

2. Does the offer change my perception of the value of the coin?

MrEureka · July 25, 2008 10:40AM

"Bijon frise" is French for "frizzy rat."

My bill for the above advice will follow shortly.

fivecents · July 25, 2008 10:42AM

<< Still have the coin, and still enjoying it more than the money. >>

Sounds like you made the right choice passing on the quick 33% profit. Sometimes it's not about the money.

IGWT · July 25, 2008 11:01AM

<< I'd ask myself two questions:

1. Would I have been willing to pay whatever it is that I now stand to net on the sale? If the answer is yes, then of course I'd keep the coin.

2. Does the offer change my perception of the value of the coin? >>

I understand point no, 1, but not so much point no. 2.

SeaEagleCoins · July 25, 2008 11:07AM

Ya know...there ought to be some rule about two people with the same avatar not being allowed to post on the same thread...

For a minute there I thought Andy had "lost it" and was talking to himself...

Mark · July 25, 2008 11:11AM

IGWT:

That avatar is just so wrong for you...

I was scratching my head just as was SeaEagleCoins. I thought Andy had taken a dive off the board into the deep end.

IGWT · July 25, 2008 11:16AM

<< Ya know...there ought to be some rule about two people with the same avatar not being allowed to post on the same thread...

For a minute there I thought Andy had "lost it" and was talking to himself...

>>

Have you looked into the mirror recently?

MrEureka · July 25, 2008 11:20AM

<<2. Does the offer change my perception of the value of the coin? >>

I understand point no, 1, but not so much point no. 2.

Here's an extreme example. Let's say that MadMarty buys a rare NJ copper at a garage sale and flips it to Russ. Russ then offers it to you. You like it and it sounds cheap, but you really don't know what it's worth. Then again, neither did MadMarty or Russ. Anyway, you're in a gambling mood and you buy it. Then, CCU hears about the coin and offers to triple your money, sight unseen. Since CCU knows the market, your perception of the value of the coin has just changed, hasn't it? And you probably won't be so quick to sell.

SeaEagleCoins · July 25, 2008 11:25AM

<< 

<< Ya know...there ought to be some rule about two people with the same avatar not being allowed to post on the same thread...

For a minute there I thought Andy had "lost it" and was talking to himself...

>>

Have you looked into the mirror recently?

>>

ahhhh....a wise guy, eh?

Mark · July 25, 2008 11:29AM

IGWT:

IGWT · July 25, 2008 11:31AM

-- Here's an extreme example. Let's say that MadMarty buys a rare NJ copper at a garage sale and flips it to Russ. Russ then offers it to you. You like it and it sounds cheap, but you really don't know what it's worth. Then again, neither did MadMarty or Russ. Anyway, you're in a gambling mood and you buy it. Then, CCU hears about the coin and offers to triple your money, sight unseen. Since CCU knows the market, your perception of the value of the coin has just changed, hasn't it? And you probably won't be so quick to sell. --

Well, if I'm the typical collector, my perception has changed . . . my perception of myself, not of the coin. I'm now damn smart investor instead of an simple collector.

MrEureka · July 25, 2008 11:34AM

This is getting pretty weird...

OnlyGoldIsMoney · July 25, 2008 11:34AM

If you can find a replacement without much difficulty I would sell the coin. Remind the dealer thereafter that he owes you one.

IGWT · July 25, 2008 11:39AM

Tell me, have I returned from China yet?

FatMan · July 25, 2008 11:49AM

<< The coin arrived safe and sound, and it was every bit as nice as I judged it at the show. Happy, happy, happy. >>

I have not read the replies. Lou, my question is a simple one...would selling for the quick profit make you happier? And for how long? I say keep the coin.

Al21 · July 25, 2008 11:58AM

This is a similar situation (sort of) that my wife and I had. We bought a beautiful piece of property in Canada (near Golden, BC) for 250k US. When we got back to California our agent from Canada called with an offer of 10k from someone who really wanted the property. We said no, and a week later they offered 20k. We kept it, and it's worth 600k+. We made the right decision.

mike92694 · July 26, 2008 10:02AM

<< This is a similar situation (sort of) that my wife and I had. We bought a beautiful piece of property in Canada (near Golden, BC) for 250k US. When we got back to California our agent from Canada called with an offer of 10k from someone who really wanted the property. We said no, and a week later they offered 20k. We kept it, and it's worth 600k+. We made the right decision. >>

Do you mean +20K or 20K altogether?

Al21 · July 26, 2008 11:45AM

20k more than our purchase price.

Tvac897 · July 26, 2008 12:31PM

I'd flip it immediately...unless you really like it.

An interesting turn of events on a FUN purchase: Has your dealer ever done THIS to you?

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