The Worst deals/overpriced thread

Let's see your worst purchases!

Just last year, for some reason, I thought this was a steal at $3 for 6 nickels that weren't even that nice. Ouch

 

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and the dealer who wrote the price in magic marker should be shot

 

Haha... indeed. I didn't notice the utter brilliance until you mentioned it.

 

Consider yourself lucky. You should see the 2004P Westward Journey nickels. They were in such bad shape that they actually snagged my cotton gloves when I removed them from the Mint bag.

Chris

 

The worst deal in the history of coin collecting is undoubtedly the South Africa 2008 Mandela Birthday 5R NGC MS-69 (yes, it is a mouthful). The South African Coin Company reportedly sold it about five years ago for the USD equivalent of $338,000 (Rand 2.3MM).

At the time it sold, it was one of two in the population report. Today, the combined NGC/PCGS count is 13 with several hundred as a 68 and over 20,000 as a 67. I expect it to ultimately lose at least 99% from this price and even then at a 99% "discount", it will remain one of the most overpriced coins in the world.

 

Gee. Now I feel a bit better about my nickels

 

Ahh, but what if you had Jamie Franki sign the reverse under the Buffs with a Sharpie? Now how much would you pay? By the way, Jamie is fighting leukemia and had to miss the Anaheim show. He designed every ANA medal since 2011 at least and the 2005 Buff reverse and the 2006 to date obverse. Say a little prayer to your favorite deity for Jamie's swift recovery.

 

By the way, if you need or want a "clean" replacement plastic for the priced one, I have extras in my miscellaneous junk box.

 

I remember when I took the tour of the Denver mint, there was a guy with a little stand right outside the guest entrance selling westward journey nickels and other gimicky junk. His prices were ridiculous and all the foreign tourists were paying his prices for coins you could find in circulation. They were better off buying the same coins in the mint gift shop. Crazy how he was able to do that right outside the entrance where everyone was waiting to get in.

 

He was benefitting from our hobby's bizarre distrust of government. "If the gummint's doin' it, it must be bad." Okay then, overpay, moron.

 

Thanks! But I don't think it would be worth it, as the coins really aren't that nice (especially the milky proofs...)

 

The 2015 c&c sets that weren't Truman or Ike

 

I don't know that I'd call the distrust "bizarre"

 

I finally snagged my missing set - the Ike that sold out while I was taking pictures for the ANA, and I paid VERY little over issue price. I keep expecting to be arrested - I nearly "stole" it.

 

I would. But that's my standard rant about this hobby. The distrust of government never made any sense to me since at its core, what we do is collect little metal discs issued by a ... wait for it ... government. I mean, to be internally consistent, if we wanted to be all anti-government, wouldn't we all be collecting private mint pieces? Is not "The" government a uniquely indispensable piece of what we usually call numismatics?

 

There's a movie where some guy goes to some rich guy's place for something, expecting to get paid 500 grand.
Turns out the rich guy was planning 500 grand in his privately printed bills, for use after he seceded from the Union.
But with all money, it's only worth as much one believes it is.
Geez, i forget what that movie was now

 

Dumb and Dumber?

 

Probably, haha

 

Wasn't that from "Better call Saul"?

 

You nailed it.. It was going to be a retainer for his services.