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<p>[QUOTE=&quot;dougsmit, post: 3059233, member: 19463&quot;]It also works the other way.&nbsp; Coins that failed to sell in some auction with excessive reserves have tuned up at shows at considerably less than the failed reserve.&nbsp; On several occasions I have been surprised to find a new show purchase listed online as having sold for much more not long before.&nbsp; Some of these are cases where the high bidder never paid for the lots.&nbsp; I suspect there are many paths between sale attempt and final disposal to a collector who plans on keeping the coin for a long time. </p><p><br /></p><p>I agree 100% with this but point out the operative word here is &#039;think&#039;.&nbsp; A buyer who pays twice the CNG estimate for a coin he &#039;thinks&#039; he can sell for three times what he paid sometimes makes a killing and sometimes is discouraged from being a dealer when he discovers his &#039;thinking&#039; was faulty.&nbsp; Like any business, some coin dealers succeed and some fail.&nbsp; There is no guarantee that promises a profit from faulty thinking.&nbsp;&nbsp; I would love to know the statistic of how often Clio is approached by someone who bought a coin figuring he would be able to sell it for a profit to the rich guy.&nbsp; The second statistic of interest would be how often this ploy resulted in the desired sale. </p><p><br /></p><p>There was once a coin dealer of some repute who told the story of being asked if it was true he had made a small fortune in coins.&nbsp; His reply was that it was true but that he had started with a large fortune.&nbsp; I do not know if he was joking but he no longer deals in coins.[/QUOTE]</p><p><br /></p>

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