I'm bidding on a peace dollar error coin on ebay and was outbid by Fred Weinberg. On the good side, it lets me know I was bidding on a worthy error coin. On the bad side, he knows the market to a "T" and will not bid more than its worth.
I fail to see the bad side. For if he is unwilling to pay more than fair market value, then you should be able to win the auction for little more than that. The security in knowing that you were bidding on a worthwhile coin against a knowledgable collector is worth one more bid, IMO.
Hey Pcrdnadave, depending on if you are buying for your own personal collection or for resale.....you may want to bid more than a dealer is willing to pay for the same item.........remember ,he has to include his profit margin for resale........you do not if it is just for your enjoyment!! Good Luck!
Well no I haven't but since I don't buy rare coins I'm not surprised I have gotten coins from some big time dealers but never gotten outbid by them...I've gone to auctions and see I know the high bidder and sometimes I'll bid and sometimes I'll let them get it. There is one guy that seems to like the same things I do--I'll go to a item and I'll say, "Oh look, ___ is bidding" ...but he doesn't stop me... If you want the coin I'd say to outbid Mr Weinberg. Sometimes I'll go a little over list just to get one coin..I know I'm nuts. Speedy
I don't think that's nuts at all. Market values are generally based. Each individual has his own opinion on what a coin is worth to add to his collection. If the stated value for a coin is $25, and you have $35 that you can spend and the particular coin is worth it to you, you should buy it. Don't always be guided by the market trends.
