Have you ever examined a coin in your collection/inventory...

UtahCoin · January 10, 2012 2:40AM

and wondered, "I paid WHAT!!!! for this? What was I thinking?!"

I know I have. I was looking at a coin this morning (that was buried waaaaay back in the vault) that by all rights is a $250 retail coin max. For some reason I paid $425 for it 2 years ago.

Perhaps at the next show I'm set up at, I'll use my favorite dealer quotation, "That's the best I can do, I'm in it $425"......

I know a collector that has a couple of 1903-O Morgan dollars he bought 50 years ago for moon money, and won't part with them for less.

bsshog40 · January 10, 2012 2:47AM

Well I've never had to worry about paying Moon money for something and looking at a serious loss for it. I do have some mediocre coins I've bought that I now think was not worth buying, but then again, I just keep them for a YN to give to one day.

OldEastside · January 10, 2012 2:54AM

I know this old guy thats bought BU rolls back in the 60's
when rolls were HOT, stuff like 55s lincolns, 55 jeffersons
and 55d washingtons, for 60's moon money, He'll never
part with them

Steve

donzme · January 10, 2012 2:58AM

As a person's numismatic knowledge, skills, and market awareness mature over time, there will be plenty of opportunity to reflect on previous purchases and say

Elcontador · January 10, 2012 3:02AM

No. But I have looked at some of my coins and wondered why I bought them in the first place.

bosco5041 · January 10, 2012 3:03AM

Yes I have, more times than I care to admit. I quess thats why we upgrade.

LanceNewmanOCC · January 10, 2012 3:05AM

.
a few times and if the item can't sell in the period i dictate, i simply sell it at a loss and move on

i prefer to live free and not have little things like that hanging off of me

but if i paid too much and i like & believe in the coin then i just put it in the back of a box and forget about it for a while

usually a creative solution pops up
.

123cents · January 10, 2012 3:08AM

<< No. But I have looked at some of my coins and wondered why I bought them in the first place. >>

MidLifeCrisis · January 10, 2012 3:20AM

Ha! For practically every coin in my collection!

elmeister · January 10, 2012 3:24AM

I've been selling off a number of coins I wasn't in love w/ to buy a few more choice examples... I had your reaction to a few of my oldps but luckily I wasn't nearly as buried in them as i thought i'd be... what I noticed is that the stuff I sold off and paid too much for were impulse buys, last minute auction bids, and quick reactions to BST deals.

The coins I love and have kept were researched and honestly evaluated for an extended period of time before purchase...

silverpop · January 10, 2012 3:36AM

nope not once

AUandAG · January 10, 2012 3:37AM

I have a neighbor that called me when silver was $49oz. Said he should have sold his Morgans
back in 1980 but thought it was going higher. Had me look at his "hoard" of about 1,500 slot
played Vegas dollars. Said to call him when silver hits $50. Was not going to miss this boat this
time and was sure it was going higher.
He still has them.

bob

Sonorandesertrat · January 10, 2012 3:54AM

<< No. But I have looked at some of my coins and wondered why I bought them in the first place. >>

Ditto

Rollerman · January 10, 2012 6:51AM

<< and wondered, "I paid WHAT!!!! for this? What was I thinking?!"

Yes, especially in the early years...but I ease myself the pain of this reflection by getting rid of such pieces as soon as I realize they weren't what I wanted. I may lose money on them, but once they are gone, I don't have to have them rubbing my nose in the bad deal. Now, I have paid too much for some coins, and I'm still very glad I did - I like them that much! Different scenerio!

Interesting thought.
Pete

Barndog · January 10, 2012 6:55AM

more than once. Doesn't stop me from selling at a sane price level.

messydesk · January 10, 2012 7:27AM

Almost every proof set I ever bought from the mint.

MedalCollector · January 10, 2012 7:35AM

<< Almost every proof set I ever bought from the mint. >>

I just sold most of mine.

keyman64 · January 10, 2012 7:38AM

A couple of times but now I just view those as lessons learned, events that will not be repeated.

CarlWohlforth · January 10, 2012 7:41AM

Sure, though not so often anymore.

Re: Proof Sets. Most products I've bought directly from the mint are lower than what I paid, yet, net-net, I'm up because of issues like the '99 Silver set and a few others.

coolest · January 10, 2012 7:55AM

Many of my earlier acquisitions turned out to be coins that I find less than appealing.

I put them up for auction and sell them for what the market thinks they are worth and move on to nicer coins.

The attitude that I paid x for this coin so I must now sell the coin for x+y (y being a positive number) has always be highly irritating to me, considering we all know the value of collectables, or even for gold, rises and falls, and those same people would get angry with another seller that was insisting on selling his common Morgans for the $50 he paid before silver dropped to $28.

I just laugh to myself when I picture his/her heirs’ dropping their inheritance into a Constar machine.

WaterSport · January 10, 2012 7:57AM

Yep, Got at least 3 I am top heavy in.

WS

crypto79 · January 10, 2012 10:37AM

RedTiger · January 10, 2012 10:52AM

There have been a couple of times that I have come home from a coin show with some obscure low value purchases and do some online research. Most of the time I paid way more than the going rate, so I've stopped shopping at those particular dealers. For most U. S. coins there are so many price guides available that I usually have a ballpark idea of what I want to pay.

RYK · January 10, 2012 11:01AM

<< No. But I have looked at some of my coins and wondered why I bought them in the first place. >>

Dan769 · January 10, 2012 11:15AM

<< .
a few times and if the item can't sell in the period i dictate, i simply sell it at a loss and move on

i prefer to live free and not have little things like that hanging off of me

but if i paid too much and i like & believe in the coin then i just put it in the back of a box and forget about it for a while

usually a creative solution pops up
. >>

I like this thinking. I collect coins because I like them, of course getting them at a fair price matters, but I do not keep track of what i paid for them. When it does come time to sell, sell as the market dicates and move on. Life's too short to worry about getting at least $325 for it because I have that much into it.

TwoSides2aCoin · January 10, 2012 11:42AM

<< 

<< No. But I have looked at some of my coins and wondered why I bought them in the first place. >>

>>

some appear to have taken a chapter out of my book.

I guess we're human.

metalmeister · January 10, 2012 12:27PM

Never look back. Only move forward and enjoy each day.

Have you ever examined a coin in your collection/inventory...

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