Sold a few Morgans today—FWIW

For that matter, I can't remember the last time I picked up a few loose shares of stock from the CoinStar return slot, or found a share of 1980 pre-split Apple in with the stack of P&G I just bought.

 

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Thanks for sharing,yea understood I probably wouldn't ever get back the money I invested in my Coin Collection,personally I do it for the history & heritage and ultimately will pass everything down to my sons with the hopes they carry things on.
I have every year of the Morgans and Peace except for 1893 & 1895 also excluding every mint but along with Mint sets from '55 to current and ASE's '86 to present it's a decent little collection and one day someone else can enjoy it.

 

And your house example makes my point: You stand to profit if you sell because of favorable market conditions. Your negotiating ability won't have much to do with it.

The stock market is overvalued and the consensus among analysts is that a correction is on the horizon. As long as this correction is anticipated and weathered through diversification, it won't be the end of the world and the market will recover.

 

There are two sides to coin collecting versus coin investing. I buy a coin because I like it and only buy a coin as an investment if I think it has a good chance of appreciating and I happen to like the coin. I bought the Congratulations coin, because of the low mintage and the San Francisco mintmark. It is a PCGS PR70 ER so I've added to my Set Collection (still haven't figured out why they call it a "Set"" when it's one coin) and have a coin that has a good chance of going up in value over time.

 

Till the 'Limited Edition Silver' set comes out (with this coin) later this year.......

 

After checking, apmex was selling 1881 s ms 63 for $179 in Jan. 2009, quite a bit more than they're going for now. Ebay sold listing 1881 s ms63.

 

My last house I sold in '07 "because of favorable market conditions" for top dollar and I bet the guy who bought it was under water for years. My negotiating ability is used in buying coins not houses, I leave that to my broker. I find it funny that you call the mother of all bubbles in the stock market simply "overvalued".

 

Over a longer term, picking semi rare, and overlooked items, money can be made. Auctions are worthwhile resources, in particular those you attend in person. I have seen doubling doing this, but you cannot always be a buyer. That too is a wave approach to buying.

 

I'd say you did OK. In my opinion and from what I've seen occur people seem to have an inflated idea of what their coins are actually going to be worth when liquidating. Many people seem to value their coins at strong retail prices not wholesale. While also forgetting to considering that when selling to a dealer that their margins are going to come into play on offers received also.

 

The old saying "Buy low and Sell High" certainly applies to coin collecting, that and timing I think are the biggest factors in a profitable deal. In 2009 I remember paying around $5500 (+/-) for a box of ASEs and sold all I had in 2011 (for almost 4 times what I paid), remember when Apmex was paying almost $2 over spot for eagles? I do, because I sold off a couple of thousand oz. back then. But this isn't 2011 and like I said before I'm more of a buyer now than seller, but if and when the price goes back up I'll be more of a seller.

 

I have no illusions about this hobby although I agree with you that many do, especially when they're starting out. I've done fine with some higher-end pieces. I don't buy/sell that much.

 

You did well.

 

Maybe the focus of this discussion should be the dangers of buying graded Morgans, because I can honestly say that I don't own any, I consider them to be a specialized market that I know nothing about so I stay away.