It's fine. Funny, even. I mean, these deals are sometimes hard to believe, but heck, one of our new members may have just found a 1888/7 AU+ Indian Cent in a junk box... a $20k to 30k coin! Yesterday I nabbed 2 buy-it-now listings off Ebay consisting of 6 BU Indian Cents. I paid the seller's asking price. I think the total was $19 shipped for both lots. My first thought was, "YES!" My second thought was, "Wonder if these guys will believe me?"
Sets up the polygraph machine...... This machine senses a lie and gives a little elertric shock to help the suspect remember the truth.....
That's what makes this thread fun. It shows that knowledge can help you build a nice collection at a very reasonable budget. Hell, I once paid $7.00 for a coin that I sold for over $5k. Here's one I posted back in June. It's a $400.00 coin I paid exactly $50.00 for it. Just because you know what it is and what it's worth, does not mean the dealer knows it. I also paid $4.00 for a 1994 Mint Souvenir Set that I sold the next day for $200.00 on eBay. All you have to do is hunt for the deals.
The other thing one needs to do is read,research,and have patience. Over 75 % of the dealers I know are very smart business men and women....however have no interest in varieties. Leaving a lot of meat on many a bone.... I'm sometimes shocked when I tell a dealer that $300 coin has another $100/150 profits to be made.....yet to them it's to much trouble to learn how to increase their profits.
Well, I think you paid a bit on the High Side on this one. I am no Morgan expert, but I'd put it at about AU-50, which has an NGC Retail Value of $40. I try to get anything WAY under retail value. Just my humble opinion, though. Nice Coin, nonetheless!
That's one of the reasons I'm newbie. But, losing to learning now... and get lot money after. (I hope).
It seems to be my “magic number” , $20. You know that amount of money where you say “what amount to me would be the point at which if I made a complete mistake and overpaid it wouldn’t upset me about the money? That is your magic number. I figure that I’d spend $20 on entertainment on a Sunday afternoon and so if I get something of value to keep, I’m happy regardless.
I don't consider that a failing. This is a big field, and nobody has enough time and attention to master all its specialties. If a dealer makes a sustainable profit on his bread and butter, leaving some meat on the bone won't hurt him. In fact, it'll earn him more faithful and reliable customers.
Knowledge is power....and power earns respect. To educate ones self to the best of your ability instills confidence in others to trust in you. Maybe that's just me..... but making yourself better , is the seed that can nurture others to reach for higher goals. One should never run from learning,but run to it.......and one should strive daily to both share ,and learn something new . By doing so ...one not only enriches themselves, but to all who surround them.... And that my friends is a gift that cost nothing,but is always remembered by those who recieve such riches.