The "what was I thinking" thread...

[kryptonitecomics]

That's right...this is the admit your mistakes thread

 

 

I am not talking about the time you paid $1000 bucks for a 1 oz Gold eagle when the spot price of Gold was $850 an oz but rather post a coin that you bought with say limited knowledge of the series and then later you realized it was a big mistake. This especially goes for those that specialize in a series and when they first began they were buying all the wrong coins and then years later they realized they threw a bunch of money away on dogs whether they be cleaned, damaged, overgraded, low end for the grade etc

 

 

Since I am a toning fanatic I will post 3 coins I just found in a box that were 3 of the first toned coins I ever bought. Not only were the coins cleaned, they were AT and I overpaid by a huge margain since they were essentially worth pocket change

 

 

Coin #1

 

1955 Washington quarter in AU.....dipped and stripped with no luster but NT album toning that can typically form on a dipped out coin. I paid $35 dollars for this coin and even had the nerve to show it off to David Hall at a show many many years ago cause I was so proud of my purchase. He took one look and said yeah so what it's a dipped AU? I don't think I got it then......

 

 

 

coin #2 & #3

 

I bought these at the same show as the other coin from a traveling merchant if you will.... I was at one dealer table looking at toners when a guy walked up with a few albums of coins and asked if I was interested in toners.....well of course I was but I didn't want to let the guy know that as I certainly didn't want to pay too much. Imagine my surprise when I talked hime down to $20 a piece for these winners I am just glad I never tried to send them in for certification back then....I am sure the graders would have gotten a real good chuckle

 

 

Outside of being AT, ugly and probably lightly circulated I think they are very attractive coins

 

 

 

 

 

 

 

 

So now it's time to man up...or women up and show off how far you've come in your collecting adventure

[MunkyMan95]

I don't make mistakes

[Old Pueblo]

Most of my flubs have been promptly vetted by the folks here at the forum.

Fortunately for me, I was able to return that "What was I thinking" coin for a full refund. I will say this, people of the forum have been a valuable source of information and probably saved me some money. Thanks!

[cpm9ball]

I din't make no missteaks never

 

You forgot your period.

 

 

See below!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Punctuation, that is!

 

Chris

[cpm9ball]

There is no such thing as a mistake. It is negative reinforcement. It's like being in the Marine Corps. They don't retreat. They just fight in a different direction.

 

Can I shoot you in your good foot, now?

 

Chris

[Catbert]

Here was a $200 tuition lesson I received regarding an XF40 1803 large cent. The back story is here:

 

http://www.cointalk.com/t44472/

 

We all have to pay tuition to learn this hobby. Some pay more for their education versus others. I'm still learning and have yet to receive my "bachelor's" degree.

[JIM F.]

After dipping a PCGS PF-65 Morgan dollar and getting it back as a PCGS PF-65 DCAM, I rolled the dice again and dipped another PCGS PF-65 Morgan and got it back in a body bag marked "altered surfaces". Hmmmm, "altered surfaces" seems rather severe for a quick dip -- and the coin looks pretty darn good too.

 

It's been a few years, and the coin has toned a bit....I think it's worth another shot.

 

No pictures at this time since I do not want to alert "the authorities".

 

 

[SkyMan]

Ah yes, mistakes... a subject with which I am intimately familiar.

 

For example, in 2005 I bought, via auction, a couple of toned Peace dollars that looked attractive AND were slabbed by NGC. I knew Peace dollars fairly well, having put together a white set in the late '80's, (and eventually sold most of it in the early '90's... I stopped collecting between 1991 - 2003 as I had kids by then), but I didn't know much about AT toning in 2005, and was naive enough to assume that if either PCGS or NGC slabbed a coin then, BY GOLLY, it MUST be NT. I proudly showed the coins to assorted members of the Toned Coin Collectors Society, TCCS, and was gently informed that both were probably AT. I put them up for auction and lost around 50% on both of them. To make things even worse, when I look through the catalogue of the auction I originally got them in, there were several stunning NT toned Franklins that I could have gotten if I hadn't spent the money on the Peace dollars. Nothing quite like going to school, bending over and saying, "Please sir, may I have another"...

 

Here are images of the dollars, they do not look as wild in hand as via these images, e.g. the images are a bit juiced.

 

 

[kryptonitecomics]

I believe I saw both of those coins in hand Sy and probably imaged them too.....let me see if I can find the pictures

[Walkerfan]

Dave Ramsey, the financial advisor, calls it 'paying your stupid tax'.

 

I did that once when I bought 2 coins from 'Tues night coins' an ebay user. I think it is another user name for 'great southern' or similar dealer as he was from Miss. or Ala. don't rember which. One was supposed to be a 63 and I knew it was an AU-he gave me my money back to his credit. The other one, he claimed was 65, and I took it to a local dealer that has been in business for 40 years and was a supposed expert. He told me that it was probably 64/63. NGC body bagged it and dealers since then have told me it is a 59 slider with a little wear that I still can't see myself, even with a loupe. Anyway it has cost me a bundle and proves how subjective our hobby is and that even 'experts' get fooled. It was my first and hopefully last mistake.

 

BTW- the minute you start braggin that you don't make em (mistakes) is when it will happen to you, so watch out! The only people who don't make em are the ones who never spend their money or buy anything much. Happy Coin Hunting!!

[fishfinder]

ah gee etc. wish I had found this site earlier in my sudden desire to collect! I scrubbed up a 1999 $50 eagle cuz it had some darkness to it, got 1909 half eagle all scrubbed up and the dealer wouldn't take it back, some more cleaned coins on e-bay....can't go on it's painful.....stupid tax yea and lessons learned like buy the book before the coin.

[leeg]

Cracked this coin out instead of sending in as a crossover:

 

 

 

 

 

 

This is just one of many.

[JIM F.]

oops

[kryptonitecomics]

Ok....now I am thinking I got off cheap with my $75 dollar loss

[Dene]

I've been collecting since the early 70's and at first it was mostly whites but then I started to like the toned coins and since I was buying coins certfied by different business that certfied coins I bought a beautiful? 1928 toned mercury dime certfied by PSI as a MS-68. Well I couldn't have been happier and went to a coin show in Syracuse NY and proudly showd my coin to a respectable dealer and was told that the coin had been dipped and was AT. He showed me the problems and I started learning about NT and AT since then but I'll be honest I still make a buy that I think it good and it turns out bad. Well at 65 I'm still learning about toned coins. Wish I had the picture of the mercury dime, but sold it many years ago for a loss.

[gbsten]

Cracked this coin out instead of sending in as a crossover:

 

 

 

 

 

 

This is just one of many.

 

What was the problem with this coin? Looks pretty nice to me! Any ideas?