I told myself not to wait and I lost!

Discussion in 'Bullion Investing' started by Peter Economakis, Sep 20, 2020.

  1. Peter Economakis

    Peter Economakis Active Member

    Not to many just Coin shops in my town, mostly Pawn shops..
    After finding one pawn shop that finally had some silver 1/2's and and a few Morgans and Piece Dollars about a few months ago, those dwindled away but I at least personally bought bunch.
    Last Saturday this one Pawn shop had to have easily 500 Liberty .999 silver Dollars ranging from 1995 to 2020. 4 or 5 black velvet trays worth with probably 5 coins stacked on each other in plastic cases side to side..
    I was low on cash and did not wan't to use one of those dreadful portable ATM's they had in the store.
    $33 a pop for these coins and told myself I would come the next day or so, turns out I never made it till yesterday. I went there thinking ok maby they went up a tiny bit in price but no biggie.
    They were ALL gone except a few Homer and Bart Simpson ones and some Panda's I think:mad: Those I just don't like:( and were at $35 now.
    I didn't even think to hold some on a lay away thing.
    Just venting
    Last edited: Sep 20, 2020
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  3. Robert Ransom

    Robert Ransom Well-Known Member

    Been there, done that, and dislike my indecision. Normally, I see, then buy.
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  4. -jeffB

    -jeffB Greshams LEO Supporter

    $33 each wasn't a super-great deal, and they're dirt-common (with a few exceptions). You'll get other chances, possibly at a better price if you're patient and attentive.
  5. Peter Economakis

    Peter Economakis Active Member

    Yup true, but by buying 5 I think they offered something like $1.50 discount on each and plus no shipping charges.
    Also I could pic and choose which ones, some had toning or a little tarnishing that some like but not me.
    Biggest issue when buying from ebay or online is waiting for the shipping:eek:
    I did get one on a bid just yesterday for $32.25 but shipping was $3.80.
    Not the greatest deal but I just wanted to have one in my collection.
    Yes though, I am very very impatient which is my biggest downfall;):(

    Just to add I got out bid with literally 10 cut throat seconds left for one at $30.50 just before the bid I won.
    That eerked me really really bad but it's part of the game I guess.
    Last edited: Sep 20, 2020
  6. Collecting Nut

    Collecting Nut Borderline Hoarder

    You lived and hopefully you learned.
    Peter Economakis likes this.
  7. Mountain Man

    Mountain Man Well-Known Member

    If it is meant to be, it will be.
    Peter Economakis likes this.
  8. fretboard

    fretboard Defender of Old Coinage!

    Your day will come again! ;) I have some silver, not a lot but I have enough, all kinds Panda's, Libertads, American Silver Eagles etc. Years ago, I decided that I wasn't gonna buy anymore until I run into some raw ASE's at a decent price. That's right, I won't buy generics or anything else, just American Silver Eagles, no proofs either that's just me and my choice as I'm getting tired and older now so I just chill! :D
    Peter Economakis likes this.
  9. Jeffjay

    Jeffjay Well-Known Member

  10. Jeffjay

    Jeffjay Well-Known Member

    I think the single most important word when it comes to new collectors and collecting in general is patience.
    Peter Economakis likes this.
  11. medoraman

    medoraman Supporter! Supporter

    I almost never walk into a coin show or shop without at least 5 or 6 hundred on me. I have simply been in too many situations where cash gets me a good deal. One I remember was a coin shop in Washington DC where 4 Benjamins got me a gF-aVF Cleopatra 80 drachma piece.

    Having said that, ASEs at $33 are not like you lost out on a screaming deal or a rare piece. However, I highly recommend 7 or 8 $100's folded in the back of your wallet. They are very handy, especially in coin collecting.
    Peter Economakis likes this.
  12. Speedbump

    Speedbump Not a New Member

    Look at it this way. You can get them online from multiple places for $30 today. :D
    Peter Economakis likes this.
  13. Silvergmen

    Silvergmen SILVER & MORGAN Obsessed

    i stopped buying silver bullion once it got so high. I'm a buyer at anything under $15 or so an ounce. That rule has served me well for the last 20 years, and i have made money when it went to $45-50 and now again at its current prices when i sell or trade it. When it gets over $15, i start spending more money on morgans for my collection.

    Stay patient, you likely will see another good opportunity to own it a lot cheaper.
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  14. medoraman

    medoraman Supporter! Supporter

    Yep. I wrote here just a couple of years ago of the gold I was buying because the market was dead and premiums and market price was soft. Always try to buying when no one wants it. Best way I have found. Two years ago I had all of the PM I wanted at nearly melt.
    Peter Economakis likes this.
  15. Peter Economakis

    Peter Economakis Active Member

    Capture.PNG Capture.PNG Seeing that the price of silver dropped a bit I looked at ebay to see prices.
    No changes yet that I see in prices in general for obvious reasons and it's not that easy for sellers to change prices or even wanting to.
    I did see this one seller who is $10 less on average for these .999 $1's.
    Looking at seller feed back it's 100% but I saw one buyer saying it perfect for him/her to melt down to make into a ring.
    The seller is also only showing the obverse of these coins.
    How would one of these $1 coins even wear out? They don't circulate and only thing I can think of is some are carried as a daily luck type of thing?
    The price difference is also a little worrying. I offered him $21 for each coin of 2 if he could combine shipping. I didn't get a response. I know $21 is low but they are only asking $24.95 and I thought I would get a counter offer or flat out no. I'm going by members suggestions to be patient;)
    Being $10 on average less than all other similar $1's does anyone have a opinion?
    Last edited: Sep 23, 2020
  16. -jeffB

    -jeffB Greshams LEO Supporter

    I'm not in a position to check eBay at the moment, but I'd be really nervous about a seller offering a large number of ASEs that close to melt. I'd check whatever I got with a scale, calipers, magnet, and possibly acid/file.

    Remember that as long as a seller offers a return/refund for a dissatisfied buyer, they can have any negative feedback from that buyer removed. So that 100% feedback may not mean anything. Make sure none of the positive FBs say something like "good imitation".
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  17. medoraman

    medoraman Supporter! Supporter

    I agree. In coins, something too good to be true is usually for a reason. Sure, you can find flea markets where they don't know what they have, they can have US dealers not knowing the value of a few random ancients that came in the door, but for the most part, especially for something so ubiquitous as AES's, WHY would a seller sell $10 under the market except to prey on your greed and sell you a fake.

    I would run away.
    Peter Economakis likes this.
  18. -jeffB

    -jeffB Greshams LEO Supporter

    Now, I have seen -- and bought! -- "too-good-to-be-true" eBay listings. Sometimes they were fraudulent. Other times, they weren't; they were just someone listing something based only on what they had in it, or because they didn't know any better. These were almost always Buy It Now listings where I just happened to be the first person to see it.

    In many cases, I've messaged the seller saying "you probably didn't really want to sell this at this price", and offering to cancel the transaction. Sometimes they take me up on it, sometimes they don't.

    But those bargains are few and far between, and finding them is a matter of luck. They're vastly outnumbered by the bogus items, which in turn are vastly outnumbered by the legitimate listings priced too high to be of interest.
    Peter Economakis likes this.
  19. mynamespat

    mynamespat Dingus

    They are auction format, entertaining an offer for BIN. That is the starting price- opening bid. I'm sure the seller hopes that they will be bid up higher. The opening bid is simply the number the seller came up which they decided will garner interest from bidders. However, if only one bidder shows up the seller won't be taking a bath.
    Peter Economakis likes this.
  20. -jeffB

    -jeffB Greshams LEO Supporter

    Ah, right. I misread the listings.
    mynamespat likes this.
  21. Peter Economakis

    Peter Economakis Active Member

    Yes its a bid and spaced it out although looking at the feedback "which I know doesn't mean much" it shows a few coins sold for the opening bid price.
    Now just wondering why he didn't raise the lower bid price? although again some of these coins do look worn, at least with the obverse only pics..

    Edit: I guess I was off a bit, they sold a few for $26, and some for $29 and $30.
    Last edited: Sep 23, 2020
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