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 Replies: 22 / Views: 3,631 |
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Pillar of the Community
United States
4000 Posts |
...that I might be overpaying for some coins. I mean, sure, I want to pick up coins at below book value, but if I have to bid a little more or the BIN (not ebay specific) price is a little over book, I don't seem to have a problem with it. I don't intend to get into the coin selling business and turning coins for profit. I just want them in my collection. I know, you've seen some of my coins listed here for sale, but that is more of a scaling back move and removing coins that I am currently not collecting and bought on impulse when I first started collecting. You'll see more of those, and on every one so far, I've taken a loss. Anyway, I don't seem to mind spending $50 (or more) on a coin that "books" for $40 (or more), I guess is what I'm saying. One day, someone else will own my collection, and it will be all profit for them. I can only hope they catch the bug first before just jump up and sell them. In fact, I think I will put in my will, that before they can sell them, they must sign up at CCF, buy a shirt, and ask for everyone's opinion as to grade and price. Then maybe, by the time they are done, they will have gained the knowledge and interest to keep them and expand upon the collection. To me it's just temporary outlay of cash and after that I don't think about it anymore. I look at some of my more valuable coins and I see the hunt and rarity of finding such a coin, rather than "This coin's worth $XXX!". Sorry, I'm babbling. |
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Pillar of the Community
Canada
3692 Posts |
I guess it depends on the scarcity. If one guy bids more than you and that coin won't see your eyes for another 2 years I'd say it's worth that extra $10. There's a saying in bazaars, that you should buy an item you like because it won't be there long or ever again. Depends on the supply chain. If you're buying something from a mint as opposed to something on the secondary market, then you have a better chance of obtaining it for market price.
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Pillar of the Community
United States
2120 Posts |
well its a valid babble indeed. I would say I agree, for the most part. I will sometimes "over pay" slightly, but that's on coins that I feel I want for a specific purchase. I have however done a bit of impulse buying the last few months and will probably be off loading some of it soon. Likely at a small loss.
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Pillar of the Community
United States
1534 Posts |
If you like it then the premium is worth it. Nicer coins are usually easier to liquidate so if you're paying a premium for nicer than average coins there's a good chance you'll get your money back. Although if when you mention "book price" you're referring to the Red Book, it might not be a good thing if you're paying too much over Red Book prices.  |
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Moderator
 United States
188052 Posts |
I agree with you completely.  I know I have overpaid based on what the supposed market value is, but I have no problem paying a premium for a coin that fits my collection better than the so-called bargain does. |
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Pillar of the Community
United States
2120 Posts |
Yea, bargains are bargains for a reason, the seller knows thats all they will get for it.
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Valued Member
United States
323 Posts |
I began by overpaying A LOT
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Valued Member
United States
254 Posts |
I heard a saying once that I liked which went something like "if you buy all your coins for below average prices, soon you will have a collection full of below average coins". Obviously this has to be taken with a grain of salt, but the point is that if a coin is scarce/rare, has superior eye-appeal, or is otherwise highly desirable, you will probably have to pay higher than "book value" to acquire it.
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Pillar of the Community
United States
1388 Posts |
I completely agree with you Scooby... I never mind if I pay more than the usual "book value" for a coin... I buy coins that I love and enjoy and that's what makes us collectors... yeah we might try to get a few coins cheaper here and there but the excitement of finding a great piece that you love makes that price tag irrellevant...  |
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Pillar of the Community
Canada
1733 Posts |
I tend to agree with this since coins you truly desire from a catchy eye appeal standpoint get noticed by others and it increases the demand/price ratio. I don't really care what the book value is, if it's what I want and I can afford it, I'll usually find some way to make it become one with it's brethren in the other capsules.
On the flip side, I've filled out some really visually appealing VF sets for beginning collectors. It's a great place to start with all the devices in place and even a beginner can notice if he/she comes across a better one.
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Bedrock of the Community
United States
19942 Posts |
I agree Scooby...but...it does depend on the coin. When you get to the higher grades, more eye-appealing or tougher coins, I have no problem paying higher prices. In fact, I've often seriously regretting not buying a lot of coins because I was being a tightwad. Probably my most "regretted" coin was a beautiful 1936 Lincoln brilliant proof that a dealer had at a big, yearly show 2 years ago. Man oh man, I had been searching for that coin FOREVER and it's the last Lincoln proof I need to have 1936-up. He wanted $850 and I had $900 cash in my pocket for show money. I was REALLY fighting it, go to the show and buy the one coin I really need, or move on and buy a bunch of coins I didn't really need. I was so torn up! I kept looking at the "worthless for Lincoln proofs" Gray Sheet it was listed at something stupid low like $150. I SHOULD HAVE BOUGHT THAT COIN! It's the last and only one I've ever seen like it....just a supreme example. That's what I get for being a cheapskate!  Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Bedrock of the Community
United States
14454 Posts |
I am the same as Scooby, if I want it I will add how much I want this particular coin in with the value and if I really like the looks of this one coin it doesn't bother me if I over paid because to me it was worth it no matter what others would be willing to pay. Of course ususlly when I do buy coins like this its not for resale so it doesn't really matter what its worth to others
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Pillar of the Community
United States
2600 Posts |
I have no problem over paying for a coin but it needs to be one that I need and then an exemplary piece.
Jim
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Moderator
United States
188052 Posts |
Thad, I feel the same way about a Twenty Cent Piece I wanted for my 7070! I did not have enough cash, but there was an ATM on site. Some would say it was way overpriced, but I have never seen another one like it. Beautiful tone. Nicely circulated with no dings or gashes, just honest wear. It would have been my first slab as well (to be broken out, of course). I still dream about that coin.  |
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Pillar of the Community
Canada
838 Posts |
I whole-heartedly agree. I find enough bargains (here and elsewhere) to justify spending a bit more on something else that I like and want in my collection.
By the way, I didn't know CCF sold shirts! You learn something new every day!
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Pillar of the Community
555 Posts |
Nothing wrong with overpaying. If you want it and can afford it, get it. It feels so much better to have that coin and pay 10-20% more, than have that sinking, empty feeling of depriving yourself of what matters to you. I got it from a good source, you only go around once in life...so enjoy it.
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Replies: 22 / Views: 3,631 |
Posted 06/11/2010 5:23 pm
