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<p>[QUOTE=&quot;ToughCOINS, post: 1936689, member: 20480&quot;]I wear different hats, depending on the coin.&nbsp; Each of the following cases are very different from the others:</p><ul> <li>Common coins which, when I buy them to acquire one or more&nbsp; accompanying rare coin(s), will immediately be sold off to restore cash reserves.&nbsp; These I pay well below bid for, because I know the dealer / wholesaler willing to buy and hold common coins is paying behind bid.&nbsp; I may not make a profit on these, but if I can buy them at a level which permits me to sell them off without losing, I need not tie my money up for long. </li> <li>Nice coins, which I feel are a good fit for my current business inventory, I pay strongly for, but not insanely so.&nbsp; I want to be known as a very strong buyer for the right material so that I receive the first opportunities to offer and purchase. If I&#039;m constantly beating up sellers of truly nice coins, I won&#039;t last long in this business.</li> <li>Outstanding coins . . . whether rare, uncommon with unparalleled appeal, or with some highly sought attribute . . . those are a different story altogether.&nbsp; I look at every one of these with the auction mentality.&nbsp; Is my first offer always the maximum I&#039;m willing to pay?&nbsp; No, but I&#039;ve usually got that figure in mind already when I make my fierst offer.&nbsp; Negotiating room is important to establish with such items.&nbsp; A couple of weeks ago, an 1883-O Gold Eagle was offered on eBay . . . a coin I wanted to own.&nbsp; I placed an early bid to put my stake in the ground, and then programmed my max bid into a sniping program.&nbsp; Several days later, with only one day left in the auction, the item ended early.&nbsp; I checked to see why, and saw that the seller closed the auction.&nbsp; Curiously, under the bid history, the amounts of all bids placed showed up on my screen . . . I don&#039;t recall ever seeing that before.&nbsp; If the bidding hadn&#039;t changed, my sniping bid would have held up with plenty of room to spare.&nbsp; That was a seriously tough coin that got away from me . . . despite my willingness, no . . . eagerness to pay insanely high money for it.</li> </ul><p>We all have different buying habits, but if you always approach your purchases with exactly the same perspective, you&#039;re either very narrowly focused on what you buy (not necessarily a bad thing) or you&#039;re missing out on a lot of deals.[/QUOTE]</p><p><br /></p>

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