So I am battling with myself on a coin... no pictures.
I set a rule for myself 15 years ago to not set the market with my purchase but I am now facing a coin I want but I have to pay up...
Southern Gold
Civil War Gold
Rattler
CAC green bean...
Price is twice the PCGS/CAC guides... But not irresponsibly high within my socioeconomic standing... make sense?
Just thinking aloud. This not necessarily about my coin or my decision I am more wondering about others decision making process.
What things do you folks think about when if you decide to pay above highest auction history for grade?
Comments
If I were to consider doing something like that it would have to be a once in a lifetime opportunity. Maybe this is that time for you.
I mean BAD !!
And went nuts on a CAC approved one. GOT IT!
Don't much care the price. It's filled a "want" and that's that!
It's an issue where there aren't many with beans. Well, I know where ONE is.
I HAVE IT !!
Now that I have paid for it... I can introduce my newest addition...
This fills more than a few holes for me.
Southern Gold
Civil War Gold
When I saw it I had to have it. I want to extend a thank you to CRO for working with me. I appreciate it.
At the time I bought my ‘29 Saint ms 64 I felt I paid very strong money , but it was the cleanest I had seen offered in a while. I paid $57,750.00 for it with BP etc . I wondering how it would perform at auction these days ?
I had a dealer offer me $58,500 which I politely declined . Thoughts ?
I agree 100 % with “ sometimes you gotta do what you gotta do ! “. He sure did buy a nice piece !! 👍🏻👍🏻
I used to be concerned about “overpaying” for a coin. However, I took a new perspective on things in life five years ago when my lovely wife of 46 years passed away suddenly within minutes with no medical warning. She was only 64 and my best friend. So now, if there’s a real nice coin that I really want, and if I can afford it, I don’t mind paying a record price. Happiness and joy are precious - grab them when you can!
Steve
Winesteven- I guess everything in life is about perspective.
The point of the post was not to find out under which scenarios I would violate my own rules. The lines drawn are between my and my checkbook. The questions I asked were when others were going to step out what did they consider.
i can't say much about my own personal experiences or situatiions, but i will say that i will not go beyond my limited budget* even if i really would love to continue bidding on a coin in an auction
i think setting "rules" for myself is basically unrelated to the auction history and i only think in terms of a bid on a coin based on my own perspective of collecting coins simply as a hobby and not a big deal otherwise
*budgets are based on a tiny fraction of net ordinary income after taxes and small amounts of $s just sitting idle in a checking account available to pay invoices etc.
How does one put a price on a great rarity, To me when a great rarity comes up, it isn't just a matter of pricing it, it is a matter of possessing it and doing whatever it takes to accomplish that if it means going the mile and paying above all the rest. Because one never knows when one will get a second chance and for a great collector when given a second chance I am sure one would take it.