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<p>[QUOTE=&quot;Jaelus, post: 2743457, member: 46237&quot;]I couldn&#039;t disagree more with this.</p><p><br /></p><p>Let&#039;s say you&#039;re at a show and a dealer shows you exactly what you&#039;re looking for but your maximum is $200 for the coin and they are asking $250. If they offered to split the difference at $225 would you say no?</p><p><br /></p><p>If it&#039;s the right coin, saying no has an opportunity cost. Perhaps you won&#039;t find as nice an example after much additional searching, and that wasted time is money. Perhaps you eventually find another example for $200, but it&#039;s not as nice, and you spend another $200 upgrading it a year later. Now passing on that extra $25 cost you a two year additional search and you&#039;ve got an extra coin to sell that you paid $200 for. Is that worth it? What if it turns out that the coin was a sleeper with a market value on the rise, and you can&#039;t find an example that nice for less than $250 later on?</p><p><br /></p><p>I know I&#039;ve passed on coins before because the price was a little more than I wanted to spend, only to spend more than twice as much over the next few years buying examples I didn&#039;t like as much and upgrading them. What has this taught me? That my maximum bid needs to be <i>flexible</i> when bidding on the right coin.</p><p><br /></p><p>Think of it like shipping insurance. Someone pays $10 insurance for every coin they mail out over and over again, until they realize that very few actually get lost in the mail and they are paying more in insurance than the losses would cost them out of pocket. So at this point they stop paying for insurance. In the long run they save money even though once in a while they end up taking a hit.</p><p><br /></p><p>In the same way, if you consistently place bids over your maximum when the coin is the right example, most of the time your winning bid will be well under this value, but once in a while you take a hit and end up overpaying. In the long run you may very well save money by saving time and extra money searching for examples of the right coins you missed out on.[/QUOTE]</p><p><br /></p>

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