How important is......

Bankerbob56 · June 26, 2011 8:00AM

....making a profit when you sell a duplicate coin out of your collection? I just committed to selling a duplicate coin out of my collection to help finance the acquisition of an upgrade. I sold one for a slight loss and I sold the second one for exactly what I had in it. The second coin was sold at below price guide indicators, but not at a personal loss. Both went to one forum member. I wasn't "hell bent" on making a profit, I just wanted to free up some additional cash for the new purchase. How common is this among forum members and is a profit the primary consideration for very many forumites???

llafoe · June 26, 2011 8:02AM

I'm a minimalist... getting rid of the "extra" coin is more important than the money is to me.

illini420 · June 26, 2011 8:17AM

If I had to make money on every coin I sold, I guess I'd be a coin dealer

But I'm not, I'm just a coin collector so taking lsome losses on my coins is pretty normal when I want to move on to another coin. But in most cases I'm pretty happy breaking even on things I no longer want in my collection, especially if I know they are going to another forum member who really needs the coin for their sets.

Bankerbob56 · June 26, 2011 8:21AM

<< <i>If I had to make money on every coin I sold, I guess I'd be a coin dealer

But I'm not, I'm just a coin collector so taking lsome losses on my coins is pretty normal when I want to move on to another coin. But in most cases I'm pretty happy breaking even on things I no longer want in my collection, especially if I know they are going to another forum member who really needs the coin for their sets. >>

Great response illini......

I like your attitude!

keyman64 · June 26, 2011 8:30AM

<< <i>If I had to make money on every coin I sold, I guess I'd be a coin dealer

But I'm not, I'm just a coin collector so taking lsome losses on my coins is pretty normal when I want to move on to another coin. But in most cases I'm pretty happy breaking even on things I no longer want in my collection, especially if I know they are going to another forum member who really needs the coin for their sets. >>

This! As long as I don't get killed on something then it is all good. I'm going to post a few items on the BST and that will help me free up cash for a future purchase...someday, whenever that someday comes. I suspect across the 4 items I will come close to breaking even but will lose a little on one or two of them. I'm ok with that.

DRUNNER · June 26, 2011 8:35AM

Mike . . .

I hope you didn't take a loss on the last coin you gave up to another Forum member's set!!!!!

Sheeeeez . . . since I inadventently set the killer price anyway . . .but wow, was I glad to add it to a special 'set' !!!

Thanks again . .

Drunner

illini420 · June 26, 2011 8:52AM

<< <i>Mike . . .

I hope you didn't take a loss on the last coin you gave up to another Forum member's set!!!!!

Sheeeeez . . . since I inadventently set the killer price anyway . . .but wow, was I glad to add it to a special 'set' !!!

Thanks again . .

Drunner >>

Well, we'll be sure to even things out a little more on the next deal to make up for that last one!

mozin · June 26, 2011 8:57AM

Most coins I sell I have owned for about twenty years. I sometimes sell them at a loss, usually about at what I have in them.

GrumpyEd · June 26, 2011 9:03AM

<< <i>I'm a minimalist... getting rid of the "extra" coin is more important than the money is to me. >>

Me too, I always feel good to get rid of the extra and have the one I want.
If you lost a few $ or break even or make a few $ it's fine.

I justify it this way, if I bought almost anything else it's money gone but coin money sort of recycles into the next thing. Compared to most things it's cheap fun.

Rampage · June 26, 2011 11:41AM

Bob, rest assured they are going to a good home.

I am certain the new owner of the coins appreciate you working with him on the deal.

AUandAG · June 26, 2011 12:53PM

I pay attention to the price I offer them at, but do look at the current offerings on Ebay and such for similar
coins. If the market is down on a coin I may just put it back and find another way to make the purchase.

bob

jedm · June 27, 2011 11:47AM

I am curious if anyone else follows my logic when I upgrade a coin in my collection. If I sell my duplicate for a loss I figure that as part of the cost of my new purchase. Does this make any sense to you or am I totally off base in this way of thinking?

ctf_error_coins · June 27, 2011 11:54AM

I have sold many duplicates for a loss and many for a profit.

It is always good to move a duplicate at a good/fair price to purchase something needed for your personal collection.

ricko · June 28, 2011 12:21AM

I am not selling any coins (except for gold, eventually - and then not all of it). If I were selling... I would try to break even - the pleasure of owning the coins is reward enough for me. Cheers, RickO

How important is......

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