Geeze, I am so used to the other direct (what was your best buy) that I really have to think about this one. Who screwed me the worst? What was my worst deal? I'll let you know.
Probably a grab-bag I purchased a couple of years ago. It was supposedly from Ft Knox. There were 15 common (F) wheat back cents (*6 were damaged), three dateless buffalo nickels, and a 194? mercury dime. I think I paid like $20 for it lesson learned.
When I was collecting as a kid, a local coin dealer grossly overcharged me for a variety of coins. After I found out about it, this experience soured me on the hobby for decades. Dealers probably have collectively lost countless millions of dollars over the years because of sales that were lost because they didn't treat customers honestly. They don't seem to be able to think beyond the moment to build a loyal client base. Many people don't want a hobby with a predator class of participants in it.
I would have to say the 2006 Old San Francisco Mint 1/10 oz gold proof coin that I bought from the US Mint. The price was the equivalent of paying $2,350 per oz for gold. Or did I get it wrong; was this coin really platinum?
without a doubt, 1943 Mercury Dime - i paid $6.00, the dealer was asking $10.00 - once home it looked cleaned. at best it's an AU58 and i should have only paid $4.50 for it. i can't believe i got taken for $1.50! live and learn -steve
I know i overpaid for an 1837 large cent. I didn't have any in my collection and was bored on Ebay one night. Lesson learned...no impulse buys!! Wasn't all that much, but i know it was more than it was worth
Mine would also be one of those "grab bags". Several months ago I decided to take a chance on one of those lottery-style grab bags on Ebay and of course what I got wasn't worth anywhere near what I paid. I ended up paying $42 for several coins worth a total of maybe $20.
questions...learning time again How do you know a 'first strike' coin? What the heck is a Business strike?
There's no way to know if (at least for the US Mint) if a coin is 'first strike'. The US Mint does not keep track of what day a coin is made or whether it's the first or last to be made from a particular die. It's a marketing gimmick based on the shipping date of coins and is not only nonsense, but fraudulent. Two of the major TPG's were sued last year for false advertising for using the designation on slabs. They've replaced it now with the equally dishonest "Early Release" (which is true, but equally meaningless). "Business strikes" are coins intended for circulation. They are made without special preparation (like polishing dies) and are handled fairly roughly (on conveyor belts and in bags) after they are minted.
I bought a 1945-S ANACS war nickel graded MS-65, the obverse is great, but the reverse has a giant gouge at the bottom.
My worst buy was on a bag of 14 large cents at an auction. I bid $21. The trouble was that I didn't have time that day to look over the lots before the auction. The only 3 with visible dates had about a third of the coin cut out, like a piece of pie. I had to hear about that lot for 3 months, from my Dad and Grandfather...lol
A roll of "average circulated" Standing Liberty and Barber quarters that I bought as a newbie on ebay. Guy was selling them dutch style. Never new that "average circulated" meant that people had carved their initials in them. I pulled about 5 decent quarters out of the roll and let the others sit on my desk. Always told my wife "If someone breaks in I hope they take these". Finally decided to get rid of them and listed them on ebay as "Crappy Quarters". With a title like that people just "had to look" and they did. Pretty much broke even in the long run by selling them as junk silver and being honest about it. Honesty - what a concept!
Mine was probably a grab-bag auction that I won from the guy who did those Ft Knox safes. I won one of his other grab bag auctions for about 20 dollars shipped, and I got a nice big bag of.....wheaties. Oh, and 1 dateless Buffalo nickel. I sent an email complaining about it, and he sent me another bag. This was pretty much the same. Wheaties, 3 dateless buffaloes, and a Franklin. Wheee.
You got it slightly wrong...the $5 gold commoratives are 0.247 oz of gold. So you only paid an equivalent of $940/oz. Much easier to live with :smile My worst purchase...Isabella quarter off eBay...cleaned:headbang:
My worst buy was a 1903 Morgan that I paid about $80 for at auction because I felt that it was a MS-64 coin. However, after the auction, when I got the coin in better light, I would tell that the coin was quite heavily hairlined. It certanly wasn't a 64 and wasn't worth $80. I now take a lighted loupe to every auction I attend.
Several Walkers I bought at a show last summer, from dealers selling cleaned coins at inflated prices. I've learned alot from folks around here since then. So hopefully in the future I don't think I'll mistake MS coins for AU coins, or mistake weakly struck coins with worn and cleaned coins.
I bought a Napolean III 10 franc coin for €50....without noticing that it was cleaned....not really bad cleaning, but it still looks a bit bleached. Oh well...only bullion price.
