Krazie Money

mhammerman · July 28, 2008 6:04AM

Just put in a solid 4 digit bid on a Heritage auction coin. Put in a bid that would cover the next increment and the one after that realizing that I was offering a bid beyond what had been paid for that coin in that grade before, at least according to Heritage archives. Thinking that maybe I was reaching but knew that I was going to have to go strong or go home because that coin just doesn't come up much anymore; like 5 coins in three years. I felt comfortable with my bid and had no remorse. I also prognosticated that no one would make the increment above my final bid because it would be Krazie as would put the price well beyond what was a justifiable price for that coin. Well, pulled the trigger, bid accepted and I was already out bid at about 30% higher than that coin has ever sold for and it's not even a possible candidate for crackout upgrade. It is a mid grade, good for the grade, average for the grade, NGC grade...So where does this bidder get off, thinking that he can just walk over us collector swine like that??? This bidder must be an alien or something, it ain't rite, some people just have too much money!

AlixTCat · July 28, 2008 6:13AM

You put in a 4 digit bid and you think others have too much money? LOL!!!

I know how you feel. I've been losing bids on coins I want and my bids were not weak. Like you, most of the time I figure I've got it covered with my proxy bid of 10-30% more than the coins have sold for before. No! Someone up there just wants me to save my money for retirement. Wait, no, that's my wife. I tell her she should save for OUR retirement, not me. I've got coins to buy.

Sorry you lost your bid. Better luck next time. Next time put in a 5 digit bid.

Jonathan

Steve · July 28, 2008 6:14AM

Mike, the guy who outbid you is a collector who also knew the coin is rarely available and HE WANTED IT FOR HIS COLLECTION. When these kind of coins become available at auction, the so called "value" that the price guides place on the coin go out the window. In my collecting series of Lincoln cents, we have a coin (1909 VDB Matte Proof) in which very few are available. The prices these coins sell for continue to rise and I don't expect the prices to fall, even in a down market, because there are more collectors who want the coin than there are coins available. It is just supply and demand. Steve

mhammerman · July 28, 2008 6:28AM

Thanks, Johathan and Steve. Hey, anyone want a beer?

Gemineye · July 28, 2008 6:32AM

<< <i> Well, pulled the trigger, bid accepted and I was already out bid at about 30% higher than that coin has ever sold for >>

Some people just have all the money....

MikeInFL · July 28, 2008 9:32AM

Perhaps someone who saw the coin in person has an advantage?

MikeInFL · July 28, 2008 9:32AM

p.s. sorry you got outbid.

options26 · July 28, 2008 9:35AM

<< <i>Thanks, Johathan and Steve. Hey, anyone want a beer? >>

Thanks but mines still full, have a few more and you won't mind bidding up the next couple increments.

Krazie Money

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