An investing competition - Page 2

mikenoodle · 11-19-2009, 11:09 AM

I have to repeat cave troll that this a is fun and learning!!! Not personal!!! No one should be singled out, aimed at, or ridiculed. Talk with your entries. Show what you know rather than talking so much about it!!

For the love of Pete! Don't tell me what you're going to do, just do something and let everyone judge it on merit!

CamaroDMD · 11-19-2009, 11:11 AM

I think this will be fun. Count me in.

coleguy · 11-19-2009, 11:19 AM

Sounds fun! Though I won't proclaim I'll beat anyone...at least as far as coins go, as I don't invest in coins. Now, if we're talking stock in a future contest, thats another ballgame

Guy~

stainless · 11-19-2009, 11:28 AM

I'm in.

question: US coins only (is what the OP said)...can it be ANY US coin? Like errors and such? and...can it be a coin WE own, a particular one?

Also, how are we going to determine value?

the reason why I'm asking is because if I say MS-66 Barber Quarter (for example), ones MS-66 could be a dog, while another could be an attractive PQ example which would sell for more than the dog, and another could be a nicely toned example which would demand a premium.

stainless

CamaroDMD · 11-19-2009, 11:40 AM

Quote:

Originally Posted by stainless

I'm in.

question: US coins only (is what the OP said)...can it be ANY US coin? Like errors and such? and...can it be a coin WE own, a particular one?

Also, how are we going to determine value?

the reason why I'm asking is because if I say MS-66 Barber Quarter (for example), ones MS-66 could be a dog, while another could be an attractive PQ example which would sell for more than the dog, and another could be a nicely toned example which would demand a premium.

It sounds like they are going to use the PCGS price guide. So, I assume that any coin listed in the guide will be fair game. That's how I'm planning on preparing anyway.

mikenoodle · 11-19-2009, 11:53 AM

Quote:

Originally Posted by CamaroDMD

It sounds like they are going to use the PCGS price guide. So, I assume that any coin listed in the guide will be fair game. That's how I'm planning on preparing anyway.

yes, that's the plan. US coins only, we're using the PCGS price guide (online) and Kitco.com for metals prices. All subjectivity on coins is left out in this particular contest universe. For the purposes of making it a fair contest, 1 MS-66 coin is the same as ANY other!

Varieties are acceptable provided that they are listed in the PCGS guide.

mikenoodle · 11-19-2009, 11:58 AM

I will also add this caveat...

If you make personally attacking posts in this thread or the contest thread, you will be disqualified!!! (my contest, so purely MY judgement)

No talking smack, no being competitive on the thread. Just post your list of coins and let your actions speak for themselves. Let's not litter the thread and make it difficult to wade through with meaningless posts not relevant to the entries.

Good luck to all who wish to enter! and hopefully good learning to all who read it over the course of the year!

coleguy · 11-19-2009, 01:10 PM

Another question kinda inline with Stainless'. Who will keep track of the prices? Are the contestants responsible or is the contest host responsible? That may determine how creative we get and how much work we wish to pile onto Mike

Guy~

mikenoodle · 11-19-2009, 02:21 PM

ok... after giving things some thought, here's how I figure it

1) everything will of course depend on how many entries, but all of them will have to be entered by a date set in early December (limiting the number somewhat) and keeping everything fair.

2) everyone will have to PM me their list by date X and then they will post them the next day This keeps people from giving others insight (via exposing their choices) before the contest. Everyone plays on a level field using only their own expertise.

3) when people send me their lists, they will have to have itemized the list with the current price according to the website (IOW, I am not going to have to look them all up, the entrant will be required to and it will be my job to verify it afterward).

4) My list will be sent to two neutral parties by the deadline. ( I will have to follow the same rules as anyone else.) I will also post my list in the thread.

The winners will be determined by me when the contest ends. Instead of then re-pricing all of the lists, those who feel that they won will PM me, and ask me to check their entry. I will verify those who PM me, and we will post a winner as well as runners up.

any other suggestions? that's what this thread will do best is explore how best to do this fairly.

snaz · 11-19-2009, 03:11 PM

I think the latest plan sounds great, and certainly count me in. Although, I would love if the boundaries were stretched to accomodate Canadian coins as well.
So I wonder when Lehigh will pipe up and try and sneak some toners in here...

illini420 · 11-19-2009, 06:38 PM

Sounds like a fun contest, I'll play.

Are we limited to only purchasing the existing population of a coin??? If the coin I want to buy for my investment is a Pop 3 coin for example, am I allowed to buy 50 of them for my investment if that's still under the dollar limit? I'm guessing yes since not all of us have access to PCGS population reports and since not all coins are in PCGS holders.

Anyways, whatever the rules are I'm in and I'll do my best to win (short of lobbying PCGS for changes to the Price Guide which does happen more than you would think - it's not just based on auction prices realized!!)