| Author |
 Replies: 25 / Views: 3,131 |
|
Bedrock of the Community
United States
11880 Posts |
I was offered a lot of money for a coin that I own. I didn't spend a lot of time looking for it, it just kind of fell into my lap. I've wanted to own this coin for a long time and it is a really nice one that would be very difficult to replace with another just as nice. In this particular case, I would be able to pocket about $9K after owning the coin for 3 weeks. I decided not to sell it.
What would it take for you to part with a coin that you love in your collection?
|
|
|
|
Pillar of the Community
United States
7273 Posts |
As I don't have a million dollars (well I wouldn't spend a million dollars) to spend on coins, if a coin has a profit of say $2000, I would probably consider selling it. The only coins I have that would come close are the 2019 S-ERP, but since I paid $65 for each I'm not feeling a real rush to sell at this moment.
As to other coins/currency, many times as soon as I buy an upgrade I'll sell or give away the lower cost coin. Since the majority of my coins aren't super expensive some young collectors have been the beneficiary of my gifts.
|
|
Moderator
 United States
187702 Posts |
Quote:
What would it take for you to part with a coin that you love in your collection? My death?  Kidding aside, I never say never, but in this case it is not even a consideration to sell any coind I have. |
|
Pillar of the Community
United States
1373 Posts |
I think that most of us collectors would NEVER think about selling away their coins. For me, I'd have to need spendable cash d-e-s-p-e-r-a-t-e-l-y, but I can picture that could happen.
|
|
Rest in Peace
United States
10625 Posts |
With the exception of a couple of coins given to me by my mom and Grandmother I suppose my arm could be twisted to let most anything go if the situation were right.
I have traded coins with a couple of CCF members in the past and even given a few away to YN's.
|
|
Pillar of the Community
 United States
5177 Posts |
I don't have a problem selling coins that were left over as a result of an upgrade. I also have no problem selling coins outright if they no longer appeal to me.
Case in point, me selling off my half-completed 19th Century Type Set after I discovered that the cost to completion would be too costly. Instead, I used the funds to assemble a very nice 20th Century Type Set which I am very happy with and which I won't be selling anytime soon (aka "never").
|
|
Bedrock of the Community
 United States
11880 Posts |
It is kind of surprising that some would never sell anything out of their collection. Tastes and interests change over time and so does attachments to coins you love or once loved. For me to never sell anything, upgrade or hang on to things forever, I would have had to know exactly what I wanted early on and would have to never change from that conviction. But I suspect that many do add and never subtract from their collection. Part of the allure of the hobby is the many ways in which we approach what we do, formed by how we were fundamentally formed as a person and as a collector.
|
|
Pillar of the Community
United States
3848 Posts |
I have a hard time selling the coins that I like most. If somebody wants a special date for the franklin series, I have no problem selling a small piece of silver. If someone wants one of my nice bust halves, I would need to make a LOT of money for me to part with it. Quote:
I would be able to pocket about $9K after owning the coin for 3 weeks. This seems like a lot of money in my eyes, but context is key. If you spent $1,000 on the coin, well heck that's a significant profit. If you spent hundreds of thousands, the profit is small. But if you can make $9,000 in three weeks, how much can it sell for in 20+ years... Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
|
Pillar of the Community
United States
4233 Posts |
I would only sell something if I needed the money. You don't strike me as someone who really needs 9k versus a coin you wanted for a long time. I can only think of one coin anybody would seek me out for, and similarly I had wanted it for a long time. So I'd say no as well. I can think of a bunch I don't really need or want anymore, but selling seems like a hassle for little value so I'd rather just have the coins. Certainly others on here are constantly upgrading and selling, so I can appreciate that strategy too. What concerns me more are a bunch of coins I pulled from circulation as a kid that are still just pocket change - my heirs are going to think they're special or something. I should just spend them but I can't even do that.
|
|
Moderator
United States
187702 Posts |
Quote:
For me, I'd have to need spendable cash d-e-s-p-e-r-a-t-e-l-y, but I can picture that could happen. Quote:
I would only sell something if I needed the money. Luckily, my investments (not coins; I have never, ever invested in coins) have done well (over 25+ years) and if I had to liquidate something, it would be that.  Quote:
Tastes and interests change over time ... True, I have expanded into new areas over the years.  Quote:
...and so does attachments to coins you love or once loved. Negative! I still love every coin I have bought.  This reflects my situation and my opinion. Your mileage may vary.  |
|
Bedrock of the Community
United Kingdom
17894 Posts |
I tend only to sell coins that I've upgraded. Even then I sometimes keep hold of the lower grade specimen for sentimental reasons, especially if it's one I originally found in circulation or metal detecting.
I don't really collect error coins, although I put them aside as curiosities when I find them. If someone wanted to buy one of my error coins I might sell it and spend the money on something I wanted for my collection.
|
|
Bedrock of the Community
United States
11880 Posts |
Quote:
But if you can make $9,000 in three weeks, how much can it sell for in 20+ years... I agree that context is key. In this case I'd be making a little over 30%. But with my luck this coin will be worth half what I paid for it in 20+ years. |
|
Pillar of the Community
United States
3848 Posts |
Quote:
In this case I'd be making a little over 30% That's not shabby by any means. If you want to take this money, you can upgrade and get an even better coin! That would work unless this coin is exceedingly rare and you won't see another like it. Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
|
Pillar of the Community
Canada
5239 Posts |
Every coin I have has a price. Some I would be way more reluctant to part with. That being said, my collection is not so choice that there are a lot of pieces that everyone wants, so this is a bit of a theoretical question. Also, in most cases nobody knows what I have. Most of it it quite commonplace and inexpensive: the effort finding everything is most of the value.
If I was very sure that I could get the equivalent for little effort and less than I was offered, then sure, but I would wonder why this person would not do the same. Perhaps I have some special knowledge that I can benefit from.
|
|
Bedrock of the Community
Australia
21786 Posts |
Some of my coins have been in my collection for more than 50 years.
I love my kids much more that I love my collection.
After I have kicked the bucket,
they will love and keep different coins to what I have loved.
And they will auction the rest.
Except for two:-
There are two coins in my collection that are very special:
A 1826 (most common date) British shilling in VG condition.
My father gave it to me, and that was the start of my collection way back in 1958. I have instructed my kids to keep this particular coin.
Numismatic market value? -about $5.
The other is an 1894 German New Guinea silver 5 Mark in AU condition. My wife's grandfather was a missionary in New guinea. The subject coin was one of 5 similar coins given to each of his kids to be kept as an heirloom. That coin is now destined to be given to my son. He is well aware of its significance, and would have no intention of selling it.
Numismatic market value? - about $2,500.
To me, both coins have the same value, and that value cannot be measured in dollars.
Edited by sel_69l
11/12/2021 12:02 am
|
|
Pillar of the Community
United States
1302 Posts |
Unless you need the money, I'd hang onto it, JMHO. I've sold on three occasions, once to buy my first car in high school, secondly to pay past due taxes, and lastly to get my wife off my back. I regretted the last two. especially the last, price of silver doubled shortly after I sold. Might you give some indication, as to what kind of coin it is, or are you trying to keep it under wraps? I have a $10 dollar Charlotte coin, that my LCS has offered a huge profit, but it's probably the best coin in my collection.
|
| |
Replies: 25 / Views: 3,131 |
Posted 11/11/2021 11:03 am
