Just One Bid

[Captain Clipon]

I suppose I should have known this was going to happen.

 

I was recently watching a business strike Lincoln Birth & Childhood 2009 MS68 on auction. Actually, I was doing more than watching it. I was checking it every 30 minutes for 4 days.

 

I have all the Satin varieties in MS69 and the business types in MS67. I was tied in 4th place in the Life of Lincolns set here on NGC.

 

I got a little stir crazy and thought I needed to draw a line in the sand. Which I did. I lost the auction by one bid.

 

I am now tied in 5th place in the Life of Lincolns set and I am pretty sure that if I check (and I will) the person will have recently posted a business strike Lincoln Birth & Childhood 2009 MS68.

 

Oh well, I just bought a new camera. We have to keep these things in perspective.

 

(insert favorite explicative here)

 

See more journals by Captain Clipon

[okbustchaser]

One thing to keep in mind is that you don't know how high the winner was willing to go. You could have doubled your max bid and still lost by one increment if he was willing to go that high.

[yonico]

One thing to keep in mind is that you don't know how high the winner was willing to go. You could have doubled your max bid and still lost by one increment if he was willing to go that high.

 

I came here to say exactly that.

 

Always upsetting to lose by just a dollar, but you have to remember how automatic bids work, the winning bidder's max bid could have been a lot higher than his winning bid

 

[JTO]

I have posted on Top Pop modern coins... You did the right thing! With more than 600,000,000, P&D, of these coins minted (that is a lot of zeros) there WILL be another 68 and then a 69 and then a 70. Just wait. I know that the hunt is 98% of the fun but you didn't lose you made the smart call.

 

JTO

[coinman_23885]

I agree with OKbustchaser and Yonico. The other bidder could have bid $10k [or other outlandish number] for all you know.

[coinman_23885]

Actually, I was doing more than watching it. I was checking it every 30 minutes for 4 days.

 

Also, I hope the post above is hyperbole. If not, and I mean this with all due respect, coin collecting is no longer your hobby but an addiction. Addiction can lead to some pretty negative consequences. Be careful. I wish you well.

[Captain Clipon]

One thing to keep in mind is that you don't know how high the winner was willing to go. You could have doubled your max bid and still lost by one increment if he was willing to go that high.

 

I learned some time ago that you have to know what you will pay for an auction. My wife and I used to go to live auctions and you can get emotionally involved very quickly.

Decide what you will pay and walk away with money in your pocket.

[Captain Clipon]

Actually, I was doing more than watching it. I was checking it every 30 minutes for 4 days.

 

Also, I hope the post above is hyperbole. If not, and I mean this with all due respect, coin collecting is no longer your hobby but an addiction. Addiction can lead to some pretty negative consequences. Be careful. I wish you well.

 

My life slogan is "Positive Obsession". If I wasn't watching some auction (and yes, I was exaggerating) I could just as easily be in some bar somewhere getting in trouble.

When I obsess on good things (or at least not BAD things) and I fall down it doesn't hurt as much.

Does that make sense?

[hunter's gold]

Out of curiosity what was the winning bid?

[Walkerfan]

Yes, it CAN be frustrating.........But how much is it really worth to you??? That is the REAL question. If you HAVE to have it, then go nuclear----if you still lose, then you have the satisfaction of knowing that you tried your best and that you made the winning bidder pay DEARLY. JMHO.

 

PS---as an example----if you are paying 65 money for a 64 coin, then it is likely time to STOP. If it is a TOP POP coin then the sky is the limit and the market will determine the price. Just bid what you are comfortable with. It is GOOD to stretch from time to time but just remember that YOU have to know your OWN boundaries.

[Captain Clipon]

Out of curiosity what was the winning bid?

$152.50

2009 D 1c Birth & Childhood NGC MS 68 RD

Top pop with 29.

 

I used to search these rolls in 2009. They are horrible quality, though I didn't have a date on the boxes they came out of. The later they were minted the worse the dies got.

 

There was a big craze on the double dies that were found in the 09 series. I actually found a couple of DDR's and got credit for them with Wesler.

 

[hunter's gold]

The doubled dies are really nice. The MS68 Formative Years example I have is a Wexler WDDR-002 example

[CBC]

How true. Last week I was outbid by one increment ($5.00) at the last minute on a very nice Morgan dollar. An identical Morgan - same date, same grade, same appearance - came up in another auction two days later, apparently from the same submission - NGC cert numbers were -001 and -002. I bid $40 higher on the second one than the final winning bid on the first one, and once again lost by one bid increment ($5.00) at the last minute. All that proves is there was one person that wanted it worse than I did, both times.

[Captain Clipon]

Out of curiosity what was the winning bid?

 

Sorry, I thought I answered this. It was right at $150.00... or one bid higher.