buying/selling in a hot in demand market

[michael]

the coin game is a very difficult place as it is filled with............. well i guess that is for another thread

 

and of course i understand all sides of this issue

 

i really do not have the answers

 

all i can say to the sellers/dealers is do what you think is right for you and everyone else be damned as remember if you try to please everyone you will please no one

 

if you believe in something stick to it you have to be true to yourself first

i think if you do that then everything will work out for you

 

as for buyers i think you need to find a coin seller that meshes with you and that you feel comfortable with and trust

 

sincerely michael

 

[bigd5]

We should start a book on Michael "isms", or proverbs.

Always the wise (as in smart, not fresh ) comments.

All you can do is your best. That's it. If that's not good enough, there's not much more that can be done.

I think the most important part of the hobby is to have fun. Keep it simple, and collect what you enjoy regardless of the hype. If you like it, whatever segment it is, the ups and downs of value won't have much effect on your feelings towards the hobby. Sure we all want our collections to appreciate, but if you want to get real serious, stocks and bonds may be a better option, in that regard.

Ever tell a kid what they SHOULD collect? They look at you dumbfounded. They collect what they like regardless of someone else's opinion, and a lot of us forget that as we get older.

 

[IrishMike]

Hey guys, two great posts with a great deal of wisdom. All of us have our reasons for why we collect and what we collect. Both this coin board and the CU have developed a community spirit and friendships have been fostered in our collecting world because of the boards. There is also a downside to this if we aren't careful. Sometimes we forget what we like to collect and let others sway us, this can be good or bad. New avenues of collecting have been opened to me as a result of these friendships. However you still have to maintain that little boy spirit that got you into collecting coins in the first place and purchase what really pleases you.

 

It pains me to see someone spend a lot of money because some coin is currently hot and because it pleases the collecting community on this board. This can be a recipe for disaster if you need to sell the coin in the short term. I know how tough it can be to resist this temptation, but getting in over your head either knowledge wise or budget wise is sure to ruin the hobby for you. I know instantly when a coin is special to me, don't know if I can describe this feeling or not. I think most of us have had this experience and part of it being special is that is it priced fairly according to how you value it. This part of the equation calls for some knowledge. To me if I have to vastly overpay for a coin it loses its appeal to me. In the end it doesn't matter how many other people you impress with a coin purchase, it only matters how much you enjoy owning it.

[TomB]

As I have always written-

 

Buy what you like with money you can afford to lose.

[barberlover-migration]

If i don't have to sell a coin i like i won't because i didn't buy it for investment purposes.

 

But if the people who pay 10 x bid for high grade coins with pretty eye appeal want to look at my collection i might be talked into selling a few.

[Elcontador]

It also takes quite a bit of self-discipline.

 

I have probably passed on more nice coins because while I really liked them -- and I could have somehow paid for them -- I felt they were overpriced. Someone else obviously didn't feel this way.

 

Several months ago, I passed on the niced Draped Bust Half Cent I'll probably ever see. At this week's Superior auction, I didn't want to ante-up another $300 for a truly beautiful super-grade Seated Quarter.

 

You must set limits, and stick to them. Sometimes I've spent 2 years before I found a particular coin. For others, I've been looking for over 2 years and still not found it.

[Todd-migration]

So true.Honesty is the best policy and you definitely cannot please everyone, just so long as you please someone you are doing a good job. Matching a coin with a collector can be a tricky thing because no two collectors are the same, everyone has a different opinion on coins.

[michael]

ttt