I overpaid for quality and I'm happy about it!

Since joining CT a couple of years ago I have gained a lot of valuable insight from a lot of knowledgeable numismatists. Probably the most important lesson, which I'm coming to appreciate more and more, is the value of quality within a given grade. As a result I've become a lot more selective about the coins that I purchase and keep in my collection.

The Trade Dollar is one of my all time favorite designs, and since an uncirculated piece would be over my budget I've always wanted to acquire a nice problem free VF-XF example. However, this has proven to be easier said than done, as I have found the series to be an absolute minefield of dreck. In less than two years I have bought and sold two TD's, both in problem free PCGS holders, that still had issues that would have probably earned a details grade in most other series. I learned that regardless of PCGS's opinion, a circulated dipped coin just doesn't do it for me...

So I finally moved out of my comfort zone (the no reserve auctions on Ebay) and made an offer on a BIN listing. I paid around 20-30 percent above the going price for a VF35 without a CAC sticker, but now I'm finally satisfied and here's the result. Even though it may seem that I overpaid, I'm realizing that the satisfaction of good quality means that I really didn't overpay at all.




Please go ahead and post other coins that you were happy to overpay for.

 

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This all day long. In the long run it is more expensive to keep buying and selling pieces that don't really make you happy then to pay up for one you can enjoy for a long time anyway.

That was a great choice, I love the look of that piece

 

It's more of a color premium than anything, but this coin price guides for like $2. I paid $75 for it and I'm happy about it.

I always tell people I'd much rather pay a fair price for a great coin than a great price for a fair coin.

 

I don't have a problem with paying too much for a coin I love and plan to hold on to for many years. I gave more for this one than any auction price I could find. I'm happy with it.

 

Those are some seriously nice coins! Keep 'em coming!

 

Trade dollars are definitely a tough series to find high-quality circulated examples with strong eye appeal. My guess is that it's because most of the coins circulated overseas, and non-American collectors are even more likely to clean and dip their coins. I would readily make the same decision in paying the premium for a coin like yours.

 

Gordian III denarius worth about $35, bought for $50 at a show. I'm happy with it.

 

Pics? We love the viewing experience.......

 

Hey, i have an 1877 s that if Vf 35 =) it is not as nice of a quality, and is an icg holder, great coin though!!!!

 

You didn't overpay at all, yes I know what you paid and that's a very fair price

 

I think novice collectors get caught up in grade vs price too much and fail to understand or appreciate that nice coins will always be worth more. Their focus is on the slab and eBay's sold listings and finding that "good deal." Q. D. Bowers' book "Collecting and Investing in Rare Coins" is really all about picking high quality coins in whatever grade, and I wish that had been my first coin book.

 

After looking for around 3 years for a "pristine, eye appealing" example of a German Mark, I purchased this one last year from Heritage for what at the time I thought was "silly money"...turns out that 3 more of this date and grade have since sold for around $700 each (about 3 times what I paid for mine).

I agree with others posting here that sometimes you just have to pay up for nice coins. When a truly special coin comes along, "Just do it" is a pretty apt philosophy.

 

This is one of my "paid-too-much-but-still-happy" purchases. Estonian 1924 5 marka, PCGS MS65. Almost impossible to find in that quality, PCGS population in MS65 is 1 and NGC also 1. None better. Paid probabably twice what its worth, but doesn't matter - I needed that coin.



Funny story actually - I must be coinaholic. Now if I think about it, I don't regret any overpaid purchases I have made for my collection. The only thing I regret - I haven't bought some of the coins when I had the opportunity...

Edit - Forgot to mention, the picture is made by PCGS.

 

Wow, MS68! Is that some kind of special mint set/presentation piece? Great looking coin.

 

I agree with your comments. When something is really important to me, I will pay for quality. Coins fall into this category.

 

Is quality worth more than run of the mill dreck? It is to many--but, not to everyone. That said, it is a logical impossibility to "overpay" for anything since if you are willing to pay X dollars for an item then at that particular point in time it is worth X dollars to you--and your valuation (and, of course the seller's) are the only values that matter.

Is it possible to pay more for an item than you can ever turn around and resell it for? Sure, but that that is a different time, place, and valuation. That has absolutely nothing to do with its value when purchased.

Coins are worth whatever a willing purchaser is willing to pay (and a willing seller to accept) for them--regardless of what any market sheet says.

 

Quality leaves little room for regret ...

 

On the trade dollar vein. Is my favorite series. To the op I like the nice original skin coin. Is how I like circulated early silver Here's a couple trades I paid a bit extra for the color

 

Here is a nice toned Ike I over paid for. It did complete my set of Ike in proof, Cam, DCam, and MS.
This was a tough set to complete. But it was fun. I completed it by PCGS Coin number and this short set was now with 56 different coin numbers.


Finding a 1978-S proof with no designation is also a hard coin to find, number 7438, Cam #87438, DCam #97438.

Here is a link to my set.
http://www.pcgs.com/setregistry/showcase.aspx?sc=2281