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 Replies: 26 / Views: 2,623 |
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Pillar of the Community
United States
648 Posts |
Hey everyone. So I recently just bought 6 coins. I didn't have much money so I tried to get something cheap. The coins I received were: 1957 Wheatie, 1943 Mercury dime, 1943 Steel Wheatie, 1906 Liberty V nickel, 1937 Buffalo nickel, and a 1905 Indian Head penny. Got all 6 for 12 dollars. Let me know what you think. Don't be afraid to let me know if it was a stupid purchase because I feel like it was a decent one and I wanna know if I'm wrong. Lol. P.S. Sorry for the bad pictures. These are sadly the best I can get. Thanks.  -Zack    Edited by xZACKx
01/11/2013 1:54 pm
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Pillar of the Community
Israel
2420 Posts |
Hey, it's kinda hard to tell by these pics, I'd pay 8-10$ for the lot.
If the 57' is a proof (hard to say from the pic), 12$ is probably fair.
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Valued Member
United States
271 Posts |
About four dollars too much.
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Pillar of the Community
United States
3453 Posts |
Hi Zack! I did a comparison of the low / high sold amounts on ebay looking at the lowest and highest amounts paid for all the coins: Low: $6.14 High: $14.45 While you MAY have done a little better, overall in comparison to what is being sold on ebay, you are not that far off. |
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Pillar of the Community
United States
4337 Posts |
nice purchase Zack
you did not get ripped off at all and I think for the budget you were working with you wound up with several nice examples of the coinage shown
at this point knowing the pricing was fair, are you happy with what you have? if so, your a winner my friend.
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Pillar of the Community
United States
3453 Posts |
Now I have some homework for you: using a loupe look at the coins closely. Research to see if there are any varieties and see if any of your coins are those varieties. Also, compare them to sites that help you grade and assign a grade. Then post the coins you have graded for opinions here (1 coin per thread in the right section) to see if your opinion of the grade is in sync with the opinions on the forum. This exercise will help you refine your grading skills in your continued quest for your collection!  |
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Pillar of the Community
United States
3453 Posts |
Oh yes, and what dsfreeworld said!
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Bedrock of the Community
United States
11951 Posts |
If your happy, it does not matter.
If I were selling those coins. I would sell them for around $5.00.
The coin shop I help at would also sell those same coins for $5.00
And still make a dollar ...or two
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Pillar of the Community
United States
2480 Posts |
Wholeheartedly agree with dsfreeworld and CoinsKelly Edited by ThisIsFun
01/11/2013 4:03 pm
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Pillar of the Community
United States
6384 Posts |
I think you overpaid a bit but if you like the pieces there's no problem. Liberty nickels are one area where you might be able to pick up a nicer coin for cheap. My local dealer has a bin of these for less than $2 each. While most are heavily worn, with a little work you can pick out solid VG or even occasional Fine pieces. From what I can see from your pictures that 1906 nickel would have been one of the lower-grade pieces in my dealer's bin. |
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Valued Member
United States
84 Posts |
You really didn't invest a whole lot, so the loss is relative. But that is a nice 57 Linclon. If you want to keep your losses to a minimum, research your coins before you buy so that you know that they're at least in the ballpark.
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Pillar of the Community
United States
3755 Posts |
The answers here should tell you something. The value of a coin is relative to the person you are talking to. Some folkscant stand to pay full retail or anywhere near that. Others don't mind if it is something they want. I would say the same as coinskelly and ds. You did fine. Not a killer steal, but you did not get ripped off. The Mercury dime on it's own is 2.19 just in silver value alone. If you do this long enough you will make better purchases, and you will make worse. It's all part of the learning curve. |
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Pillar of the Community
United States
1261 Posts |
That was a fair purchase. Keep in mind that this is a hobby. In fact, it's considered the King of Hobbies. While you can make money with some astute purchases, it takes time and knowledge to know what to look for. Man, have I overpaid on some coins I really wanted. Probably paid too much for most of my collection. But I want problem free, original, semi-key date stuff and that goes for a premium sometimes. Likewise, I have been known to sell too soon. I still wish I had that 1 oz. silver eagle collection I sold in 2001 when silver was like $8/oz or those MS-63 St. Gauden's I sold for $600/ea. But, I have learned from each purchase (and sale) and have had a great time doing it.
So, like I said, it was a fair purchase. Study those coins, catalog them and save up for the next big purchase.
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Pillar of the Community
614 Posts |
I would say that you purchased those coins at a HIGH collectors price, however not too far off. Sort of like how I bought a George Washington commemorative half for $20 this summer although I knew for sure that you can find them on ebay for $13. |
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Pillar of the Community
 United States
648 Posts |
Thanks for the input everyone:) And Kelly, I'll be sure to do that as soon as my loupe arrives.
Also, I knew it wasn't the best purchase, but these are coins I'm a huge fan of so I figured I might as well get all of them for a little higher price than they should've been, instead of having to purchase each one separate.
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Valued Member
United States
386 Posts |
xZACKx: You like the coins; you did okay. But, slow down. Don't be in a hurry. The more I interact here, the more I learn. I use this knowledge when I buy. But I won't think right if I'm rushing.
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Replies: 26 / Views: 2,623 |
Posted 01/11/2013 2:31 pm
