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Coin collecting good and bad buys
Hussulo
Posts: 2,953 ✭✭✭
I'm sure we've all made some and its like falling off a bike, a learning curve.
Anyone want to share? pictures would be good as well.
Anyone want to share? pictures would be good as well.
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I also used to have a penchant for buying cleaned and/or re-colored coins without realizing it. I have mostly gotten over that now but I am still not so good at detecting cleaned and re-colored coins.
On the flipside, and a positive note, I've made some lucky scores over the years by cherrypicking bulk Darkside lots. Some of these cherrypicks had American colonial associations and were listed in the Redbook, which is always good for their pricetags. These were a London Elephant Token (damaged but real, for which I paid mere pennies), a Connecticut copper (low grade but undamaged and ditto), and a St. Patrick farthing (actually quite decent and ditto).
Probably my best coup was this $700-ish coin that cost me less than a nickel. It was in a bulk box of Wheat cents I purchased on the BST forum. It had a bit of dirt concealing the mintmark. At first I was happy enough just to find a nice 1914, but when I removed that dirt with a toothpick, I was over the moon. "D" doesn't just stand for "dirt"!
PCGS graded it XF40.
Collector since 1976. On the CU forums here since 2001.
One good guy that stands out is Bob Pasin. I used to buy a lot from him when he was more active on ebay, always quality at great prices. Anyhow, I was trying to complete a set of the 1928 Mewar city view coins in UNC. He had a nice half rupee which I won for a very modest price. When it arrived I found the quarter and eighth rupee in there as well with a note saying he didn't realize he had those as well and included them as freebies!
Here's a so-so pic of the 1/4 rupee:
I later found a rupee at a show to round out the set, AU/UNC but nicely toned so it'll do
My wantlist & references
Collector since 1976. On the CU forums here since 2001.
Reason: R13 and got it cheap last year on the 'bay.
Reason: Large '8' - I had no idea it was "extremely rare" (the Krause catalog just listed it as another common variety). I don't even know who I bought it from!
Bad buy:
Reason: bad artificial toning to cover up cleaning. I was even more ignorant then than now. It was one of my best lessons and really didn't cost me much, luckily.
1787 Massachusetts Cent (Ryder 8-G) only a handful know and very rare in VF or above.
Here's a link to a discussion about it:
http://forums.collectors.com/messageview.cfm?catid=26&threadid=717161&STARTPAGE=1
Don helped my send it in and it came back PCGS VF25BN.
My worst buys were a Russian Paul I rouble counterfeit I purchased for about £110 on ebay when I was not long into coin collecting.
Looking at it know it screams FAKE but at the time I didn't have a clue especially about Russian coins.
I still have it as a memento and a reminder to do some research before you buy something you don't know much about.
Likewise another couple of coins I bought when I was visiting an antiques shop whilst on holiday on the coast of Scotland. I have a habit of asking antiques dealers if they have any coins.
The owner and his helper had a metal box of mostly very worn George V and Victoria Pennies he was asking something like £60 for the box.
I asked if had anything nicer, the helper answered that he did have some coins a metal detectorist or collector (something along those lines) once sold him and we arranged to meet the next day to look at them. There were two hammered silver looking coins which I know very little about and a Roman copper one.
I noticed one looked to say something like PFFA on it and remembered there once were coins struck for an OFFA. I didn't have any reference material with me the best price he would do was £130 for the three as he said he paid £110 for them. The colour didn't look right on them in the shop but I took the gamble as I was keen not to return from my holidays empty handed. Anyway after returning and doing some research I found the Roman one was genuine but worth a couple of pounds and the "hammered" ones were both fakes.
Another expensive lesson leaned. I still have them and will try and upload pictures if I get time.
C'mon, fess up. It was you, wasn't it.
Edited to add Best and Worst Buys...
My Best Buy at under $100 (about $125 after getting it certified PCGS AU55) - 1928/7M US-PI 20 Centavos Mule
Worst Buys are numerous mint sets purchased over the years, which are still selling for less than they cost directly from the US Mint.
<< <i>lordmarcovan, I remember a My Three Sons (or possibly a Leave It To Beaver) episode where someone stole The Beave's 1914-D.
C'mon, fess up. It was you, wasn't it. >>
If the Beav was the forum member who sold me that bulk lot, then yeah, I stole it from 'im.
I can't recall who it was, actually. It was somebody who came and went off the forums in a fairly short period of time. Add to that the uncertainty caused by my mixing several bulk lots together before I found that, and I really don't know for sure which lot I got it from. But I have a strong suspicion it was the one I got off BST. There were more early dates in the lot, but many of the coins had been whizzed orange (fortunately the dirty '14-D escaped.) Had that guy still been around by the time the coin graded, I probably would have thrown him a bone.
It would be interesting if you could track down the TV show you mentioned. There have been a few threads about coins in movies and TV shows.
Collector since 1976. On the CU forums here since 2001.
Worst Purchase:
An Australian 1910 3d in Gem from one of Australia's best known dealers. At the time it was the most I'd ever spent on a coin ($200 or so) and I spent several hours agonizing over it at a coin show before buying it. For two years it was my favourite coin until I pulled it out of the Eagle holder to send to PCGS and realized it was wiped. I've since found out said dealer is quite well known for 'improving' his coins.
Best Purchase:
The best financially would be an Australian 1969 Yarralumla PNC which I picked up for $50 and that usually sell for $700-$1000 or perhaps a 1919 penny that slabbed up as MS62BN and cost me $10. There's been a number of room auction coins that have slabbed up extremely well but the one I've been most happy with is a 1919 plain penny which I bought from my favourite coin dealers stock book for quite a bit of money. It slabbed up at the grade expected and I've been very happy with it ever since. While not a bargain I was happy at the time spending the money I did for what is just pure quality.
1919 1d Plain - PCGS MS65RB
Well, one of my luckiest snags was probably this nicely toned BU 1914 shilling.. not even $4 shipped, bought on ebay. Had to sell it for funds recently, didn't really want to let it go, but at least it made me a little profit
Seller's pics:
My pics:
That guy had a lot of nice GB stuff go super cheap that week, I mean hammered, milled, everything.. if I weren't completely broke at the time I would have bid on a lot more than just this! Ever since that he starts all his auctions at $9.99
Edit for LM: Yeah, I'm not sure if those are properly termed "city view" anything (I've never heard anyone call them that), but that is a fortress/walled city from the area on it so that's what I call 'em
My wantlist & references
I think my bad boy is this 1937 Crown PCGS PR67 which I paid £431 after being told by Torex that it's a VIP proof. I'm less than convinced as there's very little difference when compared to my proof from a proof set. I think what I have is just a kicking proof not a VIP.
Still, even with his pictures, it's a wonder that it went for so little, and that he charged so little for shipping. Many sellers would have charged you four bucks for shipping alone- forget about shipping AND the coin! That grab qualifies for a "you suck" award, though it might not have been as big a financial windfall as some of the others here!
Collector since 1976. On the CU forums here since 2001.
Well, just Love coins, period.
The only time I could see something as bad is if I get a counterfit and don't know it. Most of my world coin collection comes from bulk lots from a trusted source (actually, a board member) so I don't think it's too likely.
I'm not in the hobby to make money so if I overpay for something I want...it's not the end of the world as yes, I may have paid a little more then I should have BUT, it's not like I am empty handed...I still have something I wanted for my collection!
If I was one of those guys who was actually able to afford stuff, I might not have the same post to make!
<< <i>It would be interesting if you could track down the TV show you mentioned. There have been a few threads about coins in movies and TV shows. >>
My Three Sons
Love Errors and Varieties
<><><><>
WTB an error forum!
Oh who cares, I still have that beauty and it's definetely not a bad buy, just too pricey. The real bad buys, were done in the mid 90s and I 've sold them all,most at a loss because I couldn't stand looking at them, so I was willing to let them go cheap, as long as they were out of my sight.
But it's an interesting topic. I'm sick and tired of collectors bragging about super buys (example coins worth $3K slabbed that cost them $400), but they never speak about their bad buys, making them look like Dr Geniuses.
myEbay
DPOTD 3
<< <i>
<< <i>lordmarcovan, I remember a My Three Sons (or possibly a Leave It To Beaver) episode where someone stole The Beave's 1914-D.
C'mon, fess up. It was you, wasn't it. >>
If the Beav was the forum member who sold me that bulk lot, then yeah, I stole it from 'im.
I can't recall who it was, actually. It was somebody who came and went off the forums in a fairly short period of time. Add to that the uncertainty caused by my mixing several bulk lots together before I found that, and I really don't know for sure which lot I got it from. But I have a strong suspicion it was the one I got off BST. There were more early dates in the lot, but many of the coins had been whizzed orange (fortunately the dirty '14-D escaped.) Had that guy still been around by the time the coin graded, I probably would have thrown him a bone.
It would be interesting if you could track down the TV show you mentioned. There have been a few threads about coins in movies and TV shows. >>
Rob,
I've tracked down a reference to the My Three Sons episode to Ernie losing his 1914-D cent and blaming his brother Chip. http://www.coinworld.com/articles/coins-starring-roles-in-tv-shows-a-pleasant-r/
I still can't find a YouTube video, but it would have to have been an episode after the 1965/1966 season, since that is the season Ernie was adopted. If memory serves, he was 2 or 3 years older in that episode than when he first joined the cast, so that should put the broadcast date somewhere between 1967 and 1969.
Steve
Edited to add...
In the show, Ernie said the coin was worth $37.50.
My 1966 Redbook priced it at $45 in Good, my 1967 Redbook priced it at $42.50 in Good, and my 1968 Redbook priced it at $35 in Good, so the price was going down from 1966 to 1968. Perhaps in 1969 it had risen from $35 to $37.50 in Good?
My worst buy was a raw german thaler thatI discovered later had altered surfaces.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Also had a 25kilo darkside lot sent from Hungary that had heaps of silver not stated in the auction or shown in the photos. Had months of fun going through that.
TalerUniverse.com is a curated numismatic project dedicated to the silver talers, crowns, and medals of the Habsburg Empire and the Holy Roman Empire, spanning the 16th–18th centuries. The collection emphasizes historically significant issues, rare mint varieties, and high-grade NGC/PCGS examples, presented with detailed historical context, scholarly references, and high-resolution photography. TalerUniverse aims to serve both as a private collection showcase and a growing reference resource for collectors, researchers, and students of early-modern European coinage.
Worst was a 3$ US Gold piece that I purchase and it was a fake. Sold it to a collector of counterfeits.
FOR SALE Items
best purchase percentage wise was a Polish 5 zloty dated 1932 (the woman's head type). there are two varieties, one minted in Warsaw w/ mintmark, the other minted in London w/ no mintmark. Seller listed a cleaned XF on ebay with a BIN of around five dollars but showing only one side (not the side w/ mintmark). $5 was a reasonable price for the London version at the time in that condition, but the Warsaw was a $100+ coin. I e-mailed asking for a photo, and it came back right away.... Warsaw. Needless to say I jumped on it very quickly.
That's hilarious! (Unless you bought it from me. Did you?)
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I sold a Chinese coin (forgotten the year) in PCGS MS 65, with gorgeous toning on both sides
about six months ago for $950. The feedback I got was "VERY pleased with my purchase".
SInce i'd paid less than $300 for it about two years ago I was "VERY pleased" with the price I got.
Now I see "Genuine"s in the same date selling for about the same price.
Needless to say I'm "VERY pixxed off" for not holding on to it for awhile
It's just that I got my PCGS grades.
<< <i>Best buy, Unique in Gold 114 gm 22k, Purchased on ebay as Bronze.
That's hilarious! (Unless you bought it from me. Did you?) >>
I don't thinks so Andy. The gentleman was in England. He stated in the Auction that he thought it was Gold but did not know for sure. I guess everyone was asleep that evening. Interesting feature of this piece and the Bronze ones is that they are all Cliche's pressed together at the edges, The medal is Hollow,The only Victoria medals that I know of to be fashioned as such.
FOR SALE Items
Worst Buy: 1934/3 overdate 3d, scarce in EF/AU and bought as such. When it turned up it had been wiped ever so slightly and wouldn't grade. Spent $1000 on it, expect to get perhaps half that back for it.
Best Buy: 1924 1d sold as EF for $80. Just got it back from PCGS where it was graded as MS64RB and catalogues at $2500 in choice. Lovely die clash on the reverse.
I suspect a number of weak strikes and die clashed uncirculated coins have been undergraded by sellers who don't understand what constitues wear.
That 1924 1d is a beauty and was certainly a good buy!
Having just made my first submission in 2 years, (8 coins in total), I hope to have 2 or 3 of them turn out to be fantastic buys 5 or 6 weeks from now, especially this one.
I also suspect this one will turn out to be another one of my bad buys, and bad action in that I cracked it out of the other TPG holder. I'm certain it won't get the AU58 it was previously assigned, but I am hoping another one (purchased raw) that I'm sending along with it will make that grade.