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Replies: 65 / Views: 7,032 |
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Moderator
 United States
188770 Posts |
Quote: As far as one specific coin that was just a straight-up overpayment, that would be this one, but with a mintage of 20,000 plus decent eye appeal, I don't regret it. Very nice! 
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Bedrock of the Community
Australia
21788 Posts |
I bought the Philip 11 gold stater of Macedon direct from Spinks London in 1983, and paid a bit too much for it, but I have never regretted the purchase, from then until now.
It has remained one of the 'stars' of my collection.
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Pillar of the Community
United States
722 Posts |
justanothercoinaddict...If you converted Canadian dollars to a rare collectible that, I'm assuming, has at least retained it's value, then aren't you UP 26%? I could be wrong.
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New Member
Canada
13 Posts |
@howell1018
Not quite. If justanothercoinaddict bought his coins just over a decade ago then the math would be thus:
If he buys a Canadian coin for $10 in US dollars and then the Canadian dollar drops 26% the coin is worth $7.40 USD all the while maintaining its $10 Canadian price tag. Assuming the coin appreciates at the same rate as inflation, which was 2.41% in Canada over the last decade, then the coin will take just under 11 years before its worth what he paid for it.
This of course doesn't include inflation of his own currency.
If the roles were reversed and he was a Canadian buying a US coin, he would have made 26%.
edit:my math was wrong, how embarrasing.
Edited by Sten986 03/24/2024 3:29 pm
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Valued Member
United States
60 Posts |
"The best stuff you'll ever buy will seem too expensive at the time..."
I'm a value-hawk but when you're dealing with stuff of a certain prestige, overpay is the way.
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Moderator
 Australia
16837 Posts |
It's an odd question for me, because any coin I really want, I don't consider that I've overpaid for it - I paid what I wanted to pay, at the time. I usually don't bother referring to price guides at all either before or after I buy a coin from a dealer or at a coin show, so I really would have no clue what "fair market value" might be for a specific coin at any given time. So the only coins I think of as having "overpaid" for are coins that I ultimately didn't really want (usually because I already had one which I'd forgotten about when I bought the second one).
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Moderator
 United States
188770 Posts |
Quote: any coin I really want, I don't consider that I've overpaid for it - I paid what I wanted to pay, at the time. 
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Valued Member
 Canada
191 Posts |
Quote: I usually don't bother referring to price guides at all either before or after I buy a coin from a dealer or at a coin show>> *** Edited by Staff to add Quote tags. [quote][/quote] Please use them in the future. ***then if I had a coin shop I would definately want you as a customer
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Pillar of the Community
Canada
1505 Posts |
I am not really a token collector, I think I paid around $400-$450 for this last year. I liked the look of the token, but kind of regret spending that much on it and not sure if it will hold its value. LC-60C2 (11) - BR-1012 
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Moderator
 United States
188770 Posts |
The real value is your joy. If you like it then continue to enjoy it! 
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Valued Member
Canada
138 Posts |
Probably this one - a higher grade than what I typically buy for ancients, but I like owning it  
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Moderator
 United States
188770 Posts |
Quote: Probably this one - a higher grade than what I typically buy for ancients, but I like owning it Lovely example! 
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Pillar of the Community
Canada
1505 Posts |
@cedargrove
That's a nice one!
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Valued Member
United States
467 Posts |
Quote: I am not really a token collector, I think I paid around $400-$450 for this last year. I liked the look of the token, but kind of regret spending that much on it and not sure if it will hold its value.
LC-60C2 (11) - BR-1012 [Click to see a Larger Image!] Wow, that's a spectacular token. I don't collect tokens either but that might make me stray, especially since so many of those that I've seen are worn-out junk.
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Pillar of the Community
United States
1058 Posts |
I'm a serious token collector and my CCF signature below pretty much nails my philosophy.
Perhaps some of the entries in this thread don't fully distinguish between "overextending oneself" and "overpaying for the coin." Whatever makes you happy and requires neither a firstborn child nor a second mortgage is generally a good rule of thumb, right? (Also my dear wife and I have an unspoken arrangement: I don't ask how much her day at the spa with her girlfriends cost and she doesn't ask me about that mail from Spink or Heritage.)
"If everything seems to be under control, you're just not going fast enough." --- Mario Andretti
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Replies: 65 / Views: 7,032 |