Options
What do you do when you make a mistake buying a coin?
Bear
Posts: 18,953 ✭✭✭
1. Sell it at a lose just to get it out of your sight
2. Hold on to it in the hope that age will make it more appealing
3. Keep the coin and hope inflation will bail you out.
4. Bury the darn thing in the back yard and never talk about it again.
5. Give it to a friend as a gift at Christmas time.
2. Hold on to it in the hope that age will make it more appealing
3. Keep the coin and hope inflation will bail you out.
4. Bury the darn thing in the back yard and never talk about it again.
5. Give it to a friend as a gift at Christmas time.
There once was a place called
Camelot
Camelot
0
Comments
Commems and Early Type
Successful BST Transactions!SIconbuster, Meltdown, Mission16, slothman2000, RGjohn, braddick, au58lover, allcoinsrule, commemdude, gerard, lablade, PCcoins, greencopper, kaz, tydye, cucamongacoin, mkman123, SeaEaglecoins, Doh!, AnkurJ, Airplanenut, ArizonaJack, JJM,Tee135,LordMarcovan, Swampboy, piecesofme, Ahrensdad,
If it was $5 I might give it to a friend
If it was $1 I would use it as a hockey puck or throw it at people as I cruise down the highway (
Not really looking for much these days but if I were, it might be a toner.
Camelot
On the other hand, if there is a lesson to be learned, I may keep it around. I keep a $2-1/2 and a $5 counterfeit Indian gold piece around just to remember how deceptive they can be and to remind myself never to buy without a very thorough review or unless it's from a trusted seller. Fortunately, I did not get fooled on those particular pieces, though I have certainly purchased counterfeits unknowingly. Hasn't everyone?
Tom
<< <i>Give it to a friend as a gift at Christmas time. >>
Not an option.
I can't bring myself to give away or donate my mistakes.
I throw it in one of the nine 55 gallon garbage cans I keep in the back carport alongside the cabana casita.
"Inspiration exists, but it has to find you working" Pablo Picasso
if the seller you bought from offers a liberal return priv.
............mistakes that get jammed up your posterior are usually those you have no return option on
<< <i>Somehow, I always find a way to maximize my lose and minimize my profit.
Hoard the keys.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
I.e. I have an MS63 and buy the MS64 this week.
Only to buy the MS65 next week.
Then I either keep the MS64 and never look at it, or lose out on all fees and the buy/sell spread on the MS64 and sell quickly to further increase loss.
It goes along with my impatient nature
me that I am fallible. When the box gets full, I sell everything and move on. Sometimes it
takes years to get full, sometimes just a few weeks, and once a single show filled it.
<< <i>I put it away in the disappointment box in the safe and check the prices on all of them in the next 10 years. You can't be in the buisness/hobby without making mistakes once in a while. If you haven't then your not really learning anything. >>
Sure you can.
I don't make mistakes buying coins. That's not to say that I haven't ever bought a coin that I couldn't resell for a profit because I own several that are in that boat.
BUT
Did I like the coin well enough to pay the price for it that I did? Obviously, yes so since I don't participate in the hobby for financial gain it wasn't a mistake.
<keeping fingers crossed>
I will admit as I've run out of things I like to collect, I've started upgrading some of my sets and correcting mistakes as part of the process.