Thought On This Peace Dollar

I agree. I think most collectors place limits on what they are willing to pay. Unless they have unusually deep pockets, of course.

 

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I have a friend who is from Austria and he's got deep pockets but he is cheap. He loved Morgans but he didn't want to pay more than $100 for a Carson City Coin. But on the other hand, he saw an old rare 1800 gold coin uncirculated and he paid more than $10K. It doesn't matter where you come from. Some people think differently at different times and their preference differ on their economic status. Last time I talked to him was last month and he purchased another gold coin for over $5K. Now those people from other countries who have deeper pockets are totally a different kind of buyers and their country of origin doesn't matter.

Edited: What is funny is that he is not even a coin collector. He loves old fast cars and women.

 

Well, how is my ethnic origin played in determining what is overpriced or not. You sure don't even know me. If I really wanted that coin, I would just pay for it and I can afford it. You also mention that some coins are priced to benefit buyers which is not so true. Price are lower for one reason and is to unload them to turn over that money for something else. I'm from the Philippines and have ran my fathers business and I sure know how to turnover that money and I sure don't have to be an expert on coin to determine what is "Value" for something that firmly believed and I was raised. See ethnic origin doesn't play here at all.

Edited: My dad has only two coins and he likes coin collecting but Its not that interesting to him. Same applies to me, if the coin interest me it can be cheap and I won't buy it. Otherwise, I would shut up and just pay.

 

I have a friend who is 98 and he got me interested in coin collection again. Most of his collection are Morgans. He doesn't have the CC even though he can easily afford this. His mentality/perspective is that a lot of Morgans even key dates and graded coins are overpriced so he just doesn't buy it. Instead he donated some of his money to 30 different charities. He is caucasian, live simple and still cooks his food. He just told me that he sold all his Morgans that he purchased in 1960s. He netted over $100K of his collection. @Clawcoins and @Santinidollar would love this. He is a true Veteran WWII Hero.

 

That’s awesome! Good for him!

 

He lost his drivers license two years ago and since then I volunteer to take him out on weekends to the donut shop. He just love coins and now he kept only two Morgans only.

Edited: Amazing man. Just listening to him and learning things from seniors is an eye opening.

 

When I look at all my old price guides from the 80/90s I think all coins are over priced too. When I think of buying high grade St Gaudens for $440 back in the day, I think all gold coins nowadays are over priced.

I should have bought all the 1955 DDs from back then too. I have a hard time convincing myself to pay over $1k for one single cent. or nickels/half dimes, etc. Everything is over priced.

But I still collect one of each major design because it's history and cool to have.

I have my 1921 Peace Dollars because they are cool. But I don't have a 1928 becz it's over priced lol.

Hopefully over time, their prices will go up and up. So when I look back, I'll reflect of how cheap they were back then (now) versus in the future vs reflecting back today to the 80s or 90s.

 

That’s awesome too! Good for you for being a good friend to him.

Unfortunately and because life often moves too fast, I don’t think we generally give “old timers” a chance to share their wisdom and life lessons with us.

 

That’s true for a lot of things. Apple stock, for example. Look at the price you could have paid back in 1982!

 

I made a mistake when I bought them after they split at $65. Stock went up to $120 and I dumped it. Now, they are way up. They will have another split. Unfortunately, they are very dillutive now. Look how many outstanding shares they have. P/E ration in multiples.

 

That’s not a mistake at all. You almost doubled your money!

 

Quote: KR, NLSN, DLPH, GT Good deal now. In two years these stocks will double.

 

AT&T in 1985 at $4.5 after two years sold and made money. I bought my first coin collection. The Coins of the Caribbean by the Franklin Mint. I loved it even though I know it was overpriced. $19.95 per coin and 4.95 shipping. Now the same coin are way less. This is how I started my collection. After that I stopped. Moving forward 30 years later, this is where I'm now.

 

ahhh .. one of my tokenized stock buys. APPL
I had $10k of apple stock at avg $5 a share back in the late 90s. Then they went to $80, split 2-1 to $40, went to $80, split 2-1 to $40. Then went to $770 before 7-1 split then back to where they are now.

Too bad I had to sell early on. I rebought after the 7-1 but sold out at 128.

But after getting rid of the situation I'm back on my game 9 yrs ago.
bought FB cheap, rode to close to it's high before selling out at over 300x and bought more SQ.
I started buying SQ at $15 up until $70. Just holding and watching now; too high for any new buys.

I only look at up and coming companies to maximize valuation gains. I dumped my 3 prong strategy (high yield dividends, high yield bonds, and stock price valuations) and stuck to high yield stock price valuation.

Of course this was part of my education and I've been doing stocks since 1980. A lot of research goes into stock evaluations and then some of it is hit and miss.

Of course on the coin side I got lucky too. I had ASE Congrats sets that I sold out of last fall.

 

Don't be too quick to go on the attack, my comment was merely that it was apparent to me from reading your posts that your country of origin might not be the UK or the USA, and, thus, you were misusing the term, overpriced. One of our greatest presidents, Abraham Lincoln, is often quoted as saying, "It is better to remain silent and be thought of as a fool than to speak and remove all doubt."

 

Just to let you know, @Robert91791 is one of the only folks on this forum that I have thoroughly considered ignoring. But with all the rubbish and absolute ignorance that he posts I have a hard time doing so.
I do not wish to run him from the forum, just ask that if he is going to act like a long time collector, then he should have the knowledge to back it up.
His ignorant statements and failure to correct them may lead other young collectors in the wrong direction. Just my two cents.

 

I categorize him as a "value hoarder" which is one of the many things I do.

I mean really, he's hoarded like 6,000 quarters in the past year or so or something like that. He's just storing the stuff in vacuum sealed bags - he's worse than me LOL (I store stuff in old glass jars - jelly, pickle jars, tuperware, etc). And he's branching out to other denominations and specific designs now.

I totally understand the "too high of price stuff" as I have the same issues with some things I want to collect in my "coin collection" and not my "coin hoard".

 

That is not my point, I have hoarded coins in the past myself. I have seen many threads were he opened his mouth and blatantly said things that just aren't true. Then when confronted he stands his ground and try's to make a victim out of himself. Or, he plainly will not respond. It is fine if he wants to be a hoarder, I have no problems with that. If that is what you want to do, don't respond to subjects that actually require an education on the subject, especially acting as if you are the authority. It is misleading to YN's who are trying to learn. This thread is a prime example of one opening his mouth and inserting his foot.

Should I post a few more?

 

Yes, I'll agree with you there looking over this thread again about a 1921 and his $31 comment. I countered his comment in post #30ish with information on why the 1921 is higher value, also the 1928, 1934 S.

It's the "coin hoarder", versus "coin collector" mentality.

 

LOL. I give it a rest. That 1921 rarity doesn't mean anything to me. It's not worth the hassle. Hey there are some new coins coming out soon.