Tracking Challenge

Discussion in 'Contests' started by Cazkaboom, Jan 17, 2012.

  1. Cazkaboom

    Cazkaboom One for all, all for me.

    Dealers need not participate. You'd already win this one...

    Okay guys, many of you may have not seen it, but a while back Doug said something that really struck me like a baseball bat to the nose. He challenged some of us to keep track of our purchases and compare it to "Book" Value. So let's all do our purchasing and keep track on a piece of paper divided into four sections.
    1. Coin date and mintmark
    2. price paid
    3. Book value
    4. Amount over/under spent.

    So say you buy a 1915 Barber half dollar:
    Lets say I paid $80 in VG condition.
    2012 Redbook places it at $170 in VG
    I am up $90 dollars.

    Now lets say I bought this 1864 2 Cent piece:
    Lets say I paid $30 for it.
    Book value says it is $19
    I am down $11 on this one.

    So right now I am up $79 right now. Get it?

    So my (previously Doug's) Challenge to you is to keep track of your purchases and If you end up with more value than you paid, you have bragging rights. I don't know if there is a prize for this, but we shall see when the end of the year comes. Do not cheat, you are only cheating yourself. Hope you have fun on this one,

    If possible, update where you are each month. I would like to see how this goes.
    Post at the end of each month how many purchases you made (multiple purchases from one seller in one day counts as one) and how much you are up/down that month. Keep tally and we will do a final tally at the end of the year.

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  3. cciesielski01

    cciesielski01 Laced Up

    i just started keeping track this year lol i didnt write down what the coins are worth just what i paid but that will be an easy fix this sounds fun!
  4. Kid_Collector

    Kid_Collector Member

    1. Coin date and mintmark -1864 s Seated Liberty Quarter
    2. price paid - $0
    3. Book value Got it appraised, $700-1000
    4. Amount over/under spent.- +$700-1000

  5. Cazkaboom

    Cazkaboom One for all, all for me.

    I do practically the same thing with my coin club purchases and sales and often find it disappointing.
  6. Tyler G.

    Tyler G. Active Member

    I have sorta a ledger book where I write down the coin, grade,paid,when...etc.
  7. Tyler G.

    Tyler G. Active Member

    Triple Post!
  8. cciesielski01

    cciesielski01 Laced Up

    so do you want us to post every purchase and how much were up? or do you want us to wait and tally up at the end?
  9. Cazkaboom

    Cazkaboom One for all, all for me.

    No. Just keep track and update every month. I edited it in green. Just say how much you are up or down and how many purchases.
  10. cciesielski01

    cciesielski01 Laced Up

    okk i can do that :D
  11. Cazkaboom

    Cazkaboom One for all, all for me.

    So I am going to say right now, I am up quite a bit so I can have a bit of room for failure.
    To begin with, I am up $452 from January 1, 2012
  12. cciesielski01

    cciesielski01 Laced Up

    so far ive spent 60.41 and the value of the coins is 122.00 making me 61.59 in profit.
  13. GDJMSP

    GDJMSP Numismatist Moderator

    Before you play this game you need to decide what "book" you're using. Red Book aint gonna cut it. The most recent auction on Heritage shows a 1915 Barber half, graded VG10 by PCGS sold for about $100.

    And you also have to make sure that you compare apples to apples. In other words you can't buy a problem coin and then compare what you paid for it to the value of a problem free coin. That aint gonna cut it either.

    And, it is highly important that the "book" value be noted at the time that you buy the coin. Otherwise it doesn't count.

    Not meaning to reign in on your contest, but if you're gonna play the game, you gotta play by the rules. Not my rules - THE rules. Otherwise you're just fooling yourselves.
  14. tacobelldog52

    tacobelldog52 Member

    It would be better to use greysheet value or even a coinworld magazine
  15. cciesielski01

    cciesielski01 Laced Up

    how about we use bluebook value? or as tacobell dog said a coin magazine? if we use blue book it will be harder for us to be in the positive :p
  16. zach24

    zach24 DNSO 7070 71 pct complete

    Same here! It's titled Yearly Coin Transactions.
  17. gypsy_gear

    gypsy_gear New Member

    I would sooooooo win this contest!!! I'm going to pass and let the others play.
  18. rtk1909svdb

    rtk1909svdb Member

    1956 wheat pennie paid $.5 worth .03 profite -..47
  19. cciesielski01

    cciesielski01 Laced Up

    ive spent 125.66 value based on coin magazine 198.30 so i am up 72.64
  20. tdogchristy90

    tdogchristy90 Dieu et les Dames

    Just got back into collecting but with my single purchase thus far I'm at

    1884 CC Morgan PCGS MS64
    PCGS has it valued at 270
    I payed 240
    Positive value of $30
  21. Cazkaboom

    Cazkaboom One for all, all for me.

    Spent: $125
    Value: $423
    Up $297
    % possible profit: 338.4%
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