Mistakes You Have Made

I was (and now still am) om the hunt for 2006 reverse proof 10th anniversary toonie silver with a 22k gold gold center/
I was dealing to someone who wanted %40-50 dollars more than he could get from a coin dealer but at 1-150 less than from a dealer.....was about $440Cdn. For some sill reason I got stubborn about having to pay more than he could get elsewhere.....now I can only find the coin a little north of 1k.

Never look at the other guys pocket and don't imitate a mule...

Starting in the late 70's through the 90's, my parents first convinced me to buy mint and proof sets instead of new sneakers, stereo equipment ect. then it just became something we did together. Amazing how much space that that togetherness has insidiously accumulated.

Thanks for all the great stories.

Like everyone I've regretted not buying coins when I had the chance. I remember seeing a gorgeous Victoria Young Head Crown in VF+ condition in the window of an antique shop when I was about 18. I went in and asked the price, expecting the dealer to quote something ridiculous (it wasn't a coin shop) but the elderly lady behind the counter said "£9". Unfortunately I didn't have the cash on me, and when I returned a few days later, the coin had been sold.

I purchased several BU French coin sets from the Monnaie de Paris in the 1970s and 1980s but then stopped, as they were getting a bit expensive and I reckoned that in time they would become cheaper on the secondary market. In fact, there was an explosion of coin collecting in France during the run-up to the Euro in 1999-2002 and sets that had sold for the equivalent of 30 euros soared in value to several hundred euros, and prices remain sky-high.

When I was in my late 20s I received a J S Fforde £20 note with an 'A01' prefix - the very first £20 Bank of England note prefix - as part of a float from my employer. I saved it for several months, but £20 was a lot of money in those days and I eventually spent it when I needed some money at the end of the month. Today it would probably be worth about £150, but I suppose with adjustment for inflation I didn't really lose that much money.

And this should perhaps go in the stamp forum, but I wish I'd bought a few gold or silver coins instead of buying first day covers for every issue of UK commemorative stamps from the early 1970s until 2006...

I haven't made any big mistakes, but I also haven't bought/sold any really expensive coins either. Perhaps that's just a matter of time.

While it's terrible to hear about others' mistakes, hopefully everyone reading them will be able to learn from them and avoid making their own.

These are all hard to read...

Having been in the game less than three years, I haven't really had any huge mistakes. My first was cleaning my first Morgan dollar (we've all done it), and purchasing a proof merc that I will have to take a $10-$20 loss on.

I buy my coins to great prices so if something is wrong, then I can still resell it for more.

If I had known when I first started collecting that I'd be purchasing higher end coins, I would have avoided purchasing lower grade, beginner class coins. I will probably start selling some of those off slowly to buy some more early bust halves. Lower grade type coins are cool and all, but they don't satisfy my bust half fever.

Many years ago bought a 1909-1940 Whitman cent folder about 90% full. Coins in the folder had dates which were buffed-up rather harshly--didn't show that badly in the photos. Fortunately, I didn't pay and over-the-top sum.