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 Replies: 9 / Views: 1,902 |
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New Member
Canada
35 Posts |
Boy for such a short time in collecting a little more seriously I am beginning to learn that not all things are created equally. I recently took some coins into one of my local coin store and discovered that even though they look good in pictures some of my purchases have proven to be costly to me. What I thought should price out to about $600.00 according to the Charlton Catalogue grading turn out to be valued at only $140.00 ( at a cost of over $350.00 to me ) so I have discovered that not all clam shell coins are equal to their grading and that I need to be more careful. I am now at the point where I check several resources before I bid or purchase and that I look at the highest grading that I can afford ( in the last three months I have spent over $3000.00 )and some have been super great deals and some so not so great deals after all. This is certainly a very tricky hobby and that if you don't pay attention there are folks out there that are glad to take your money and take you for a ride ( including some dealers, not going to mention any names ). So for the rest of you newbies like me do your homework and save yourself the lessons of others and spend more time asking what we sometimes think of as stupid questions. I have noticed that there are a lot of very great folks here who are willing to share their knowledge and we all need to take advantage of these kind folks. So thanks all I am learning a ton from this forum and I guess a few dollars down the drain isn't the end of the world  .ship |
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Pillar of the Community
Canada
1554 Posts |
 Half the fun of this Hobby are the learning mistakes you make. Even if it costs you a few bucks along the way, it's those memories that will actually last you a lifetime! Glenn  |
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Valued Member
Canada
290 Posts |
The seller from whom you've made the purchase, did he mention the grade of the coin(s) or did you solely rely on the pictures ? Quote:
...turn out to be valued at only $140.00 Is that the price estimation of your local coin dealer ? If so, do you think it's possible he wanted to buy them off of you and quoted a lower price for this reason ? |
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Valued Member
Canada
196 Posts |
Just wondering what is the coin that caused the grief?
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Pillar of the Community
United States
3486 Posts |
Hey ship!
I am so impressed that you chose to share your "mistakes" with the group.
It takes courage to admit making mistakes.
Just last Sunday, at a small, local coin show, a dealer was showing a pair of altered 1914-D Lincoln Cents. One he caught immediately. But the other he bought and paid good money for only to have it declared an alteration.
Both Newbies and long-time collectors have made and will continue to make mistakes.
But the good folks here share their experiences in order to teach each other.
Now THAT is what makes this group so special.
Matthew
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New Member
Canada
1 Posts |
Good advice, Thanks for sharing.
I think in any hobby when collecting is involved one can only best learn from their mistakes.
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Valued Member
Canada
491 Posts |
Next time you go in to the coin shop ask them if it's okay to take picutures of the coins before you buy. I've done it and been verifying coins that are of interest with no issues from the coin shop.
If the coin is in question and you need to have it verified Heritage Auctions will review the coin/s for free (with photos)and give an estimate of its value at auction.
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Pillar of the Community
Canada
576 Posts |
Surely, you're not going to take the opinion of a single coin shop owner or manager as the final word on your purchases. I've been in this hobby a long time and routinely see mislabelled and misgraded coins at dealer booths at coin shows. It is not up to me to set anyone straight but it does make me aware that in the end the only one you can completely rely on is yourself. You have to be confident in your own choices and decisions. And you do that by always learning more.
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Pillar of the Community
United States
4897 Posts |
There is no way to say this any better... Quote:
You have to be confident in your own choices and decisions. And you do that by always learning more.
Kudos! |
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Pillar of the Community
United States
629 Posts |
If you haven't already, look to join a local coin club. It will be made up of mostly older guys that have a lot of knowledge about the hobby and I think vast knowledge about strike and weakly struck coins.
How do you tap this info? I am trying to get my coin club to feature a couple of different demoninations every once in a while and people bring in what they have, what they think it's grades and learn from each other.
Knowledge is key in this hobby, the more you have will help you make good decisions.
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Replies: 9 / Views: 1,902 |
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Posted 02/21/2012 12:03 pm
