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Guess The Price - Season 3 Champion: Coinaholic

 
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 Posted 12/22/2008  3:15 pm Show Profile   Bookmark this topic Add jbuck to your friends list Get a Link to this Message
Welcome to SEASON THREE!

The Original Contest (First Season) is here.
The Second Season is here.

The Contest: Guess the price of a recently acquired, auctioned, or purchased coin.
The Prize: BRAGGIN' RIGHTS!
Season 1 Champion: CoinHunter53562
Season 2 Champion: trdhrdr007
Season 3 Champion: COINAHOLIC
    The Rules:
  • Post guess in whole dollar increments. Final prices will not include shipping or other fees.
  • Only the first person to guess a specific value will be counted. Repeat guesses for the same value will not count, so PAY ATTENTION! There will be no ties during the rounds!
  • One guess per person per round. If your guess is a duplicate, you will be given a chance to correct it; anyone can post a warning to the player and they will have until the round finishes to have a legitimate guess.
  • Unless you posted a duplicate guess, there will be no editing guess posts. If you edit your post, please include a comment why you edited it. Otherwise, edited posts will not count.
  • Minimum round duration: Each round requires eight different participant guesses or three days, whichever comes first.
  • There will be ten rounds. In the event of a tie, there will be playoff round.
  • New Rules for Season 3: The winner of the round must host the next round. They can choose any coin they want, but must follow these guidelines:
    • No finished auctions (eBay, Heritage, etc.) can be the basis for any round.
    • If an auction is used, the round must end at least one hour before the auction does.
    • If the coin is from a personal purchase, please round your final price to the nearest whole dollar.
    • If you cannot remember the exact price paid, please use your best guess and establish this price (to yourself) before hosting the round.
    • For personal coins that were not purchased recently, please give an approximate time frame the coin was purchased (earlier this year, ten years ago, etc.)
    • Specifying that where the coin was sold (auction, personal purchase, yard sale, estate sale, etc.) is NOT required!
    The Points:
  • The person getting the closest will receive 10 points.
  • The two people getting the next closest guesses, above and below the price, will receive 5 points. That is, there is no The Price is Right "must not go over" rule!
  • Each other person that gives a unique guess will get 1 point, those that duplicate or unjustifiably edit a guess will get no points.
  • The winner of the round must host the next round, therefore being ineligible for points in that round. This will prevent someone from winning too many rounds and mathematically eliminating many of the competitors.

Sample scenario with Final Price of $42:
Player #1 = $43 Winner 10-points
Player #2 = $22 1-point
Player #3 = $36 Lower Runner-Up 5-points
Player #4 = $12 1-point
Player #5 = $35 1-point
Player #6 = $18 1-point
Player #7 = $56 Upper Runner-Up 5-points
Player #8 = $12 Disqualified, duplicate guess to Player #4.

Even though Player #5 was closer than Player #7, Player #7 was the closest runner-up above the winning price.

Season 3 Final Results!
COINAHOLIC          31 <- Our New Champion!
nohope587           30
pls                 30
Sir Ferrari         26
chris1222nascar     24
eaglefoot           22
SHAFTA9a            22
trdhrdr007          22
nod2003             21
DL20K               14
CoinHunter53562     13
Parklane64          13
MorganNoob           9
jayceeg              5
vermontensium        5
docsfishn            1
manilagalleontrade   1
Mike1923A            1
steve199             1
wd1040               1
If anyone finds any problems with the tally, please let me know!
Edited by jbuck
02/27/2009 09:53 am
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 Posted 12/22/2008  3:56 pm  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply
I'd like to propose a new rule about the coins we guess on. It's not a guessing game if the coin has been sold & info about it is listed on the internet, it's more of a contest as to who sees the coin first & does a google search. In my opinion that kind of defeats the purpose. I'll admit that I have benefitted from the lack of a rule about this, but I think it will be more fun & fairer to all participants if we have some sort of rule.

I don't know how the rule could be worded. I think that any coin that was mentioned on this forum, or sold on ebay would be disqualified. That would leave currently running ebay auctions & coins bought from shows, brick & mortar stores, online stores, yard sales,etc. What do ya'll think about this?
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Poland
3201 Posts
 Posted 12/22/2008  4:05 pm  Show Profile   Bookmark this reply Add DL20K to your friends list Get a Link to this Reply

Quote:
That would leave currently running ebay auctions


So do you mean that:
- Item is currently on sale
- Bidding ends on 12/20/08 at 11:00
- Contest round ends on 12/20/08 at 10:00 or earlier - at least an hour before the auction ends.
If so, I am in favor of this rule.
Edited by DL20K
12/22/2008 4:05 pm
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 Posted 12/22/2008  4:33 pm  Show Profile   Bookmark this reply Add Sir Ferrari to your friends list Get a Link to this Reply
That's a brilliant idea, it should definitely be a currently running auction.
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 Posted 12/22/2008  4:49 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
The first round that I ran, and at least a couple of the others, were based on current auctions that ended after the round did. AFAIK, only my tiebreaker used a coin that was easily researched on the forum; which I did on purpose to see who paid attention to the details, which as we know, only COINAHOLIC caught!

But for the record, using open actions that close after the round is scheduled to end is the preferred way to handle an "auction" based round.

Keep in mind, the contest is by no means limited to finding auctions to follow! One can always use a coin purchased in a private transaction (coin show, coin dealer, yard sale, estate sale, another collector, etc.) like eaglefoot did for his round. I believe that the fewer details given (as to when, where, who), the more chances for a wide range of guesses!

I will leave it up to each round host to be responsible and not choose a coin that has its sale price readily available! I encourage everyone to avoid closed auctions, coins that were sold on the forum, and sales that involved fellow contestants!

Cool?
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 Posted 12/22/2008  5:57 pm  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply
I'm glad to see that other people think this could make the contest better. As far as any currently running ebay auctions, maybe make the cutoff for guessing 4 to 6 hours before the auction end time. The rounds that I posted in season two were currently running ebay auctions.

One problem I see with this is that it might slow the process down a little. There are really a limited amount of us that participate. If the auction lasts 3 days & all of us have guessed by the end of the first day we'll be sitting around waiting for the round to end. I don't see any way around that.
Edited by trdhrdr007
12/22/2008 5:59 pm
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 Posted 12/22/2008  6:15 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
The three day rule was added because one round blew by with a lot of people missing out. But you make a good point. I am going to wait to post the first round until after we have some more feedback on this one.
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Poland
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 Posted 12/22/2008  6:24 pm  Show Profile   Bookmark this reply Add DL20K to your friends list Get a Link to this Reply
Although the usual number of participants has dwindled to about 8, let us not forget the situation that not all people have the time or the possibility to access CCF on a daily basis.
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 Posted 12/22/2008  6:49 pm  Show Profile   Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
. I work for an airline and have tons of down time. That's why I am off and on between working flights. I don't think most people have that amount of time to dedicate to the CCF nor the internet access.
Edited by vermontensium
12/22/2008 6:51 pm
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 Posted 12/22/2008  9:04 pm  Show Profile   Bookmark this reply Add pls to your friends list Get a Link to this Reply
Speaking as an educator as well as a collector ... these contests are an excellent way for us to learn about our coins, not just guess and go. I purposely chose an auction that was running on eBay for the coin that I posted; I was fortunate in finding one that already had 22 bids on it and still had about 4 days to run so that I could post a deadline for the contest several hours before the auction ended, as I felt that there would be a lot of chance involved in the end of the auction. There's no doubt in my mind that almost everyone who guessed in the contest found the eBay auction and made an educated - word used purposely - guess, although no one could predict how badly two or more eBay bidders might want the coin and therefore bid it up. I would suggest that no finished eBay auctions be the basis for any contest, and I would support all contest rounds ending at least an hour before any auction ended.
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 Posted 12/22/2008  9:11 pm  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply

Quote:
The three day rule was added because one round blew by with a lot of people missing out. But you make a good point. I am going to wait to post the first round until after we have some more feedback on this one.


There has to be a balance between giving everyone a shot & letting the contest drag on. I think it would be better to have too much time to guess rather than too little. The more competition the better.

The round you are talking about was posted late one night & ended early the next evening. I know I would have missed it if I was gainfully employed.
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 Posted 12/23/2008  08:13 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
Well, for me, Ebay auctions are a foreign world. I've never participated in them and know nothing about them. So I certainly never "found the coin" there. To me, if the coin in question can be found by many people and therefore they can guess very close, if not spot on, to the price.....well.....it seems almost cheating !
Finding a similar coin through diligent researching is one thing, but finding THE coin is something else entirely! I guess for "Ebay hounds" this would be right up their alley......but then it's really just a hunt to find the coin on Ebay. To me, it's the mystery of the price and where it was acquired from, that should make this game competitive and the great equalizer for everyone. You won't ever know (beforehand) if the coin would be sold at about the right price, way over what it's worth, or way under what it's worth because ya got such a good deal, etc. etc. etc.
But if the auction (coin) can be found and tracked by a guess competitor.....well....dunno.....just my two cents.
Edited by eaglefoot
12/23/2008 08:20 am
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Poland
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 Posted 12/23/2008  08:18 am  Show Profile   Bookmark this reply Add DL20K to your friends list Get a Link to this Reply
Since it's just a game, I do not check the ebay auctions. And I really use the dice to determine my guess I do not consider checking ebay as cheating, unless, of course, the auction has already ended and one can still post guesses.
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 Posted 12/23/2008  08:24 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
But it could be the difference in your guess being $6.00 off on Ebay or $275.00 off without Ebay, if the auction is "about to end", but hasn't quite ended yet and one could formulate one's guess accordingly. So there could be bidding still going on Ebay......but you'd be able to see "pretty close" to what it'll go for in awhile. Versus a guess where you have no "starting point guess". I think that's kinda what I meant.....sort of....
Edited by eaglefoot
12/23/2008 08:26 am
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Poland
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 Posted 12/23/2008  09:32 am  Show Profile   Bookmark this reply Add DL20K to your friends list Get a Link to this Reply
I do agree that eliminating ebay altogether would make this game what it's supposed to be. And I once tried predicting the outcome of our local auctions: I'll say that after a little research, seeing the price 1 hour before the end of the auction, enables you to predict the final one quite correctly.
You won't be always right but you do have a great advantage.

But if not ebay then? Not everyone will remember the exact price of a coin that one bought (unless one writes down the price of every purchase) years ago, especially if a given coin isn't one of the main ones in a person's collections.
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 Posted 12/23/2008  10:08 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
.....agreed.

But any recently purchased coin would do IMHO. And yes, for many people, maybe they have made a purchase recently or haven't in a year and a half or so......but the rules state :
Guess the price of a recently acquired, auctioned, or purchased coin.
So, to me you have to remember SOME kind of purchase you made at SOME point in recent memory and have some kind of documentation of the transaction for the price you paid for the coin. I have always, generally, saved every receipt from all of my coin buying excursions. It's not very organized, but traceable nonetheless. Even an email purchase from a collector could show you what you paid for the coin.
But really I was just making a point that it shouldn't be 98% focused on Ebay for those, like me, who don't participate in it. And for me, I'm at a very bad disadvantage because of this. So, the more VARIED the contest is, the better for all.
The "honor" system is assumed here too of course. So that in these cases someone should never just "make up" a price they thought they MAY have paid 4 and a half years ago or something. That would not be too cool. And so, I suppose if it's someones turn to post a coin and they can't.....maybe they could defer or forfeit their round......dunno......maybe another added rule for that is needed.
I'm not sure on these details and specifics......my brain hurts now !.....
Edited by eaglefoot
12/23/2008 10:13 am
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