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 Replies: 21 / Views: 3,267 |
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Pillar of the Community
 United States
3058 Posts |
Buying early coppers before I knew what they were worth...
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Pillar of the Community
United States
4211 Posts |
 and most of them..... |
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Valued Member
United States
97 Posts |
Filling holes. I've gotten much better over the years at buying one quality coin at a time and not worrying about completing sets.
The second was starting a set like Standing Liberties without doing due diligence about what was available and how realistic it was to identify and obtain coins that would meet my expectations. I've moved on from that set and not regretted a day since. Now I have some nice coins for my type set!
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Pillar of the Community
United States
2212 Posts |
I received a piece of direct mail from a respected coin investment house listing a bunch of coins that, in their words, are guaranteed to go up in value.
So I bought about five of the coins. I think I spent about $500 total.
Well, after about three years of holding the coins, not only had they not gone up in value, they had decreased. So I cut my losses and sold them to another dealer, losing about $150 in the process.
It's difficult to call it a mistake, because all signs pointed toward it being a smart move. It's sort of like putting money into the stock market and the investment doesn't pay off. It happens all the time.
Edited by jpsned
06/21/2017 9:30 pm
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Pillar of the Community
United States
1609 Posts |
Buying a large cent with a big ol gouge on the forehead.
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Valued Member
United States
124 Posts |
Buying the 2007-s NGC proof 70 presidental dollar set for $199 back in 2007. Now I know it's only worth face value. All modern proofs are just shinny change. I feel dumb for this purchase and almost quit coin collecting but didnt. I still have the set to remind me of never buy modern proofs.
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New Member
 Puerto Rico
16 Posts |
Thanks for all the replies, it's very helpful.
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Moderator
 United States
14463 Posts |
This was my post in this thread Let's be honest now. I'm curious to see,Quote:
When I was much younger, I didn't know any better. I thought my US cents looked dirty, so I took some brass cleaner to them while still in the folder
I have since replaced all the coins and they are in an album now. Live and learn. |
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Pillar of the Community
United States
885 Posts |
I have never made a mistake when buying/collecting coins. Some may feel that all purchases or collections must lead to profit or gain over time but that has never been my goal.
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Valued Member
United States
186 Posts |
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Moderator
United States
14463 Posts |
ouch  |
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Valued Member
United States
338 Posts |
I bought a bunch of raw AU Saints last year when gold was approaching $1400 per ounce. I probably should have bought slabbed MS64-65s instead. Live and learn!
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Valued Member
United States
61 Posts |
I bought some Wheat cent rolls off of ebay. It was fun sorting and I did find some nice pennies however, I overpaid. I will always do more research before purchasing. This is a great place to do that. |
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Moderator
United States
189222 Posts |
Quote:
Some may feel that all purchases or collections must lead to profit or gain over time but that has never been my goal. Agreed!  |
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Bedrock of the Community
United States
17884 Posts |
Not getting into Conder tokens LONG before I did. I knew about them back in the early 70's around the time when I first started collecting. Back then mint red pieces could be had for $3 each. Brown Uncs for $2. But the book about them cost over $100. Today COMMON brown uncs are over $200 each an 11% per annum compounded rate of return for 45 years (To have kept up with the rate of inflation they would have only had to be $8 each today.)
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Replies: 21 / Views: 3,267 |
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Posted 06/21/2017 5:27 pm
