Do you buy coins that are over priced?

I'm not going to make it public who the player is. I don't want to have to pay a ton of money for the card...I'd prefer to pay closer to the traditional retail value. If someone was to see this posting...I'd rather not have them know which card it is. The chances I will ever find it are quite slim, but I still want to be as economical as possible.

 

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I'm with Camaro on this one. I absolutely would if it were worth it to me regardless of book value.

Bruce

 

I will frequently pay way over book or greysheet for coins it just depends on the coin. I will often pay big premiums for great toning luster strike or eye appeal. I have one 1880-s ms 63 Morgan I paid $880 for!! Over 10x book price but it's got amazing color a $100 coin with $1000 eye appeal!

 

Interestingly, some of the most overpriced coins I have encountered are the non-circulating legal tender (NCLT) current issues. In many cases, waiting awhile actually saves money.

 

I understand what you say. For sure. I am just conveying that investing in coins, usually cannot go wrong. Even if you pay a significant amount more. I do not mean buying a $1,000.00 coin for $2,000.00, although that may even be okay in time if you are young enough when you buy it. I will tell you of my most recent purchases, let me know what you think:

1914 15 Kopeks Russia VF+/XF condition $8.49
1882 1 Lev Bulgaria VF/VF+ condition $4.50
1944 2 Shillings GBR VF+ condition $5.95
1969 5 Schilling Austria VF+/XF condition $2.24
1957 100 Yen Japan VF+/XF condition $7.70 (Phoenix coin)
1905 J 1/2 Mark Germany F+/VF condition $1.99
1907 A 1/2 Mark Germany VF+ condition $5.00
1908 A 1/2 Mark Germany VF condition $5.00
1918 G 1/2 Mark Germany F+/VF condition $5.54
1876 A 1 Mark Germany F+ condition $5.50
1875 A 1 Mark Germany F condition $5.50
1876 C 50 Pfennig Germany F+/VF condition $5.00
1919 20 cents China Kwan-Tung Province F+/VF condition $5.54
1886 10 cents United States VG+/F condition $4.00

Total coin #: 14
Total Cost: $71.95
Total average cost per coin: $5.14

I personally have no specific interest in any of these at all, I just collect what I do not have. If I see a coin for a price I think is reasonable, then I pick it up. I try to only get ones I do not have. When I am buying these I am bidding at around the last 60 seconds of an auction, so I don't usually have time to research values. I purchased these over the last 2 days. I know some of these are more than current book price suggests I think. I have not actually looked any of these up yet to see how I made out. I will wait to hear opinions here before I do look them up. When I look them up I will first look through my 82 KM book, and then the new one. Once I get some opinions, I will post up what the 82 value was, and what the current value is book wise.

 

I don't think this is accurate at all. Coin values are extremely volatile. The rate of return is far more predictable and better with other forms of investments. Sure, money can be made with coins...but it is a very risk long term venture.

 

"I am just conveying that investing in coins, usually can go wrong."

There... that's better.

 

Not at all. Please refer to my prior post about me only referring to coins with 10m minted or less, actually let's bump that to 50m or less made. Demonetized counted only right now.

I bought a 1922 1 shilling coin 10 years ago, it was worth about $8.00 then, it's now worth over $200.00, now that is an extreme case, however. Let's say you purchase a random coin with 50 million made. There are Billions of people in this world, and millions of them collect coins. Out of those people ONLY 50 million will ever own that coin at most. the rest are "S.O.L." and will be forced to pay a premium if they want it. Invest wisely and be rewarded, 100% true in my opinion, you will never see me collecting a coin with over 100m made on purpose, if I get them by circumstance so be it, I won't toss them out. but I ask you this simple (?) Please name a coin that has gone down in value that is demonetized, that has 50 million produced since 1982 (Since that is my oldest KM book) I will answer for you, not a single one. They will not go down in value, thusly meaning that no matter what you invest in, you will never lose money as long as it is demonetized. (I should have specified demonetized from start) Now I am specifically taking into account a good deal of time in this equation. It may take 50 years for this coin to gain in value, but I am 25, and I plan to live forever like all of us 20's-30's people do. So before I die, this coin with 50m made will be worth more than I paid for it now, the only hindrance is the end of society, or the end of the world. refer back to my example a coin gaining $0.01 in value per year after 50 years is worth $0.50 more, and that is a SUPER low number since I literally cannot find a coin that is demonetized that hasn't gained more than $0.01 per year from 1982 to now. Use Occam's Razor. If it isn't made any more, it will be valuable one day. The Romans never thought in their lifetime their money would be worth anything, but it is now, and everyone knows ancient coins are not as valuable as some newer ones from the 1000's-present. It all depends on scarcity and production and desire from others. If the coin looks cool chances are it is going to be valuable. Example form 1 I just bought the phoenix Japanese coin from 1957. do you think that will never return my investment? At the end of the day, it literally is all about what someone will pay, If I have all 1,080.00 of the Cyprus 1 Piastre coins from 1949, how much will you pay me for one?

 

I will pay a premium If the coin is the one used by pcgs as their coin fact example.

 

Paying for toning is market price not overpaying. Many toned coins will bring a premium. Just look at eBay auctions, you will routinely see people pay more then grey for a toned coin

 

I absolutely agree. The op was referring to so called "book" price. Many of the coins I buy have exceptional eye appeal as I know many of your coins do as well. You really can't go by "book" price on them I guess the value on coins of this type is whatever the market will bear or whatever someone's willing to pay. In my opinion there's no real set value on say a beautiful toned proof trade dollar or a rare pattern coin my feeling is the best way to price or value them is by auction prices realized. I just bought a great toned trade at ha this last week. in 2001 it sold for $3450 this time $3960 with bp I feel a upgrade to a pcgs holder will help the value more

 

On exceptional coins like the one I just bought the value is what it's worth to me not any book price. I feel if it appeals that much to me it will to someone else too. That's how I buy coins.

 

I will pay more than "market" price if it means paying in the $1 to $50 range, if I need the coin to help complete a collection. Above that, I rarely pay more than what I am sure is close to actual "market" price.

Usually, I am paying (sniping) at below market prices. That's when I'm lucky.

And about Krause: If you get into World Coins, there is STILL nothing better than knowing the actual market for coins, getting to know what the numismatic value is in their countries of origin (which CAN be a very, very different from North America, or wherever you're from), and finding the coin collector catalogues from the coins' country of origin (if any).

In other words, you have to know your coins! Just because their "World Coins" doesn't mean you can get sloppy in regards to knowledge about prices and average conditions of coins/rarity, etc.

Just my opinion.

 

I think, the answer I liked them most was that it was all personal perspective.

I think I made out pretty nice on the coins I bought, listed earlier on this page. I cannot afford high $ single coins, so I go for the quantity. After all, 10,000 coins with a cool $0.10 more per coin value per year makes it worth while for me. I'd rather have the quantity, than the specific single valuable coin.

 

Technically, nobody has ever bought an "over-priced" coin. If they paid the price, then that was the price. Over book value means nothing. If you look at most auction records, they are all over book value, thus the reason we need new books and price charts updated a dozen times daily. The price paid always sets the benchmark. In that sense, yes, I buy over-priced coins every time I buy a coin.

 

Yes, I will "overpay", either deliberately since I like the coin and think it worth the price to me (thus perhaps I did not overpay) or I did so rashly and made a mistake (overlooked issues with the coin or that I later became dissatisfied with the coin due to my collection standards changing). In those cases, I try to cut my losses quickly by selling the coin and then learn from it. Overall, my goal is to break even when I sell my collection and will consider myself ahead of the game because I gained pleasure from the experience.

 

Money is no object, give me the most expensive common you have!

 

Yes, I like toned coins, so I pay over book sometimes. Fact of life for toners.

 

I think its a fact of life for the series I collect too. Seated quarters are a bear to find in problem free conditions and almost always command a premium.

Original coins are even worse. You can find problem free blast white headlights for near book, but try to find original surfaces with a nice patina or tone....fuggetabout silly book values.