Cointalkers- are there any mistakes/regrets that you'd like to share?

Discussion in 'Coin Chat' started by JayAg47, Apr 9, 2021.

  1. JayAg47

    JayAg47 Well-Known Member

    I've been collecting coins/buying bullion for 2-3 years, I think I should've stayed within my means rather than spending certain amount per month or so with my little student savings, as more than 90% of my 'net worth' is now stored in coins and metals, and I really wish I have more dollars to my savings account.
    Another thing is that I should've bought coins with more quality than to just cross-off the list, except niche/rare coins in conditions that I could buy with my budget, which would otherwise be more expensive in nice conditions or hard to even come-by.
     
    Last edited: Apr 9, 2021
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  3. ldhair

    ldhair Clean Supporter

    In my early days, I ran my CC balance beyond what I could pay off the same month. I let the coin fever get to me.
    My next mistake was to hold on to too many coins. Should have been selling off more of the low value stuff. It's hard to catch up. Selling is a lot of work.
     
  4. SensibleSal66

    SensibleSal66 Casual Collector / error expert "in Training "

    Selling some of my coins in the 9th grade . Walking Halves mostly to got to a concert .
     
  5. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    My biggest regret is that I sold most of my major collections about 8-9 years ago for fairly nice profits.
     
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  6. kanga

    kanga 65 Year Collector Supporter

    When I moved my interest area back into the 19th century I sold off my 20th century keys -- and some other items.
    Gone is my:
    -- 1909-SVDB Lincoln cent
    -- 1909-S Lincoln cent
    -- 1914-D Lincoln cent
    -- 1922 Plain Lincoln cent
    -- 1955 DDO Lincoln cent (it was XF)
    -- 1937-D 3-Legged Buffalo Nickel
    -- 1916-D Mercury dime
    -- 1942/1 Mercury dime
    -- 1942/1-D Mercury dime
    -- complete date/mm Morgan set (never had the 1895)
     
  7. Conder101

    Conder101 Numismatist

    Yes but with the sales of those 20th century keys you could get some nice 19th century pieces
     
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  8. Bradley Trotter

    Bradley Trotter Supporter! Supporter

    One of my biggest regrets is from when I was about 14 years old, I had the opportunity to purchase an honestly circulated 1918 $2 "Battleship" FRBN and a 1896 $1 "Educational" Silver Certificate, both for $200. Mind you, both notes had seen their fair share of circulation, but by my estimation, both notes would've merited a VG-10, or a VG-8 had they been sent in for TPG grading. However, my grandfather talked me out of it, saying that I'd have a hard time selling both notes for the price I would've paid. Regardless, if recent trends are any indication, I would've done quite well by today's standards.
     
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  9. wxcoin

    wxcoin Getting no respect for 65 years Supporter

    To come up with the down payment for my second home, which is now my retirement home, I had to quickly sell my IHC, LC, and Buffalo nickel sets (in Dansco albums) for a loss to a local dealer; my loss, his gain. The only positive was that I was able to sell my primary home, retire early, and move to my dream location. I guess some times there are more important things than money. At least that's my story and I'm going to stick with it.
     
  10. GoldBug999

    GoldBug999 Well-Known Member

    My biggest mistake has been not being patient and waiting for the right coin, at the right grade, and price. Getting these three things to align takes patience, or you have to change your parameters, e.g. be willing to pay more, accept a coin at a lower grade, or perhaps buy a less rare coin.

    My desire to acquire more coins sooner, rather than later, perpetuates my dilemma.

    I have at least been patient with acquiring a $3.00 gold coin. I've been researching them and watching several auction companies and coin dealers' websites in my quest. This is for a type set, so I'll only being buying one.
     
  11. John Johnson

    John Johnson Well-Known Member

    I have a regret that still bugs me more than 20 years later. It shouldn't be that big of a deal, really. I had a "Round Tuit" token in my pocket once while I was in Las Vegas for a weekend. The token wasn't worth even a dollar then and today they sell for less than $2.00, but I really liked it and planned to keep it. The thing is I had a silver dollar in my pocket with that token and they were about the same size. When a waitress brought me a drink I reached in my pocket for the silver dollar to give her as a tip and just kept pulling the lever on the one-armed bandit. When I got home later I reached in my pocket and found the silver dollar. I had given her the token. I felt bad because it meant I stiffed her on her tip and lost that token that I thought was pretty cool.

    Incidentally, I found a lot of old nickels when using those slot machines, and one casino downtown still had cent machines where I pulled out quite a few wheat cents.
     
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  12. Silverpop

    Silverpop Well-Known Member

    no regrets, very minor mistakes i have made and those mistakes were easy to correct and were not made again
     
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  13. kanga

    kanga 65 Year Collector Supporter

    True.
    Somewhere I got the money for my 1907 High Relief Saint-Gaudens.
     
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  14. furryfrog02

    furryfrog02 Well-Known Member

    Was it a good concert though?
     
  15. SensibleSal66

    SensibleSal66 Casual Collector / error expert "in Training "

    @furryfrog02 . Yea, it was my first concert and we saw Black Sabbath . One of the guys that went was so stoned and drunk he fell asleep during the whole thing !! LOL / then when it was over said " is it over?" Definitely a first experience .
     
  16. furryfrog02

    furryfrog02 Well-Known Member

    Well worth it then :)
     
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  17. Mr.Q

    Mr.Q Well-Known Member

    When my dad brought me in to coin collecting he advised me to buy but do not sell. I've always stayed the course and have never sold a coin or note yet. Our only hope is that our heirs are careful and follow a good example by way of our inventory and family values.
     
  18. VistaCruiser69

    VistaCruiser69 Well-Known Member

    I have only one coin-related regret. At the very beginning of my senior year in high school, my family was moving out of CA and relocating back in NE. I gave my entire coin collection, my most prized possession at that time, to my girlfriend to hold for me in CA before I left, a token that I trusted her but more so that I would come back to her after I graduated. My collection consisted of every coin that I had gotten from the time I was around 7 years old until that present time. These coins consisted of ones my relatives and family had given to me over the years as gifts. The entire collection of coins was in a 2' x 1' x 1'6" wooden treasure chest. 8 months later I came back after graduating like I said I would but the coins and chest were both gone. Her little brother took it and sold/traded all the coins to support his drug habit at that time. Never seen one coin from it ever again. Just goes to show she really didn't care about me as much as I had thought and believed that she did.
     
    Last edited: Apr 9, 2021
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  19. Neosynephrine

    Neosynephrine Member

    In 1993 when my then fiancee left (looooong story), I suddenly had money burning holes. From a mailing ad, I bought full Franklin, Walkers, SLQ minus the big two, and Merc sets. The flyer had Morgans for $2200 for the entire set less the 1895P. The cost of the others was less than the Morgans (VG or better), but I couldn't afford all of them. That is my biggest coin regret. She, however, is my all time biggest regret.
     
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  20. ewomack

    ewomack 魚の下着 Supporter

    I bought too much without thinking and often bought things purely for the sake of buying something. When I used to attend local coin shows, I often felt a kind of sense of duty around not coming home empty handed, so I often just bought something because I wanted to buy something. I regret about 99% of those purchases. I also regret, much longer ago, not waiting to purchase something until I had enough money to buy the thing that I actually wanted.

    I no longer make these mistakes and taking part in this hobby now feels more like an enjoyable hobby and less like a mental disorder.
     
  21. Omegaraptor

    Omegaraptor Gobrecht / Longacre Enthusiast

    Once I was at the LCS and they had several Soviet mint sets in their bargain bin for $2 or $3 each. Passed up on those and still kicking myself over it.
     
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