Okay the first $500 witter box you just opened was a bust... lol so you have to rename this video to the six worst buys of the Year.. hi guys looks like you're having fun at the Orlando show! See you when you get back to foley. Rob
That's a fantastic question and a great point, but there are some reasons I am against holding a losing position I don't believe in on any investment. Some numismatic markets do consistently gain over time, some plateau and don't even match inflation, and some actually lose over time as the general trend. They do fluctuate, but sometimes a market will take significantly longer to recover than others. The note market was crazy high for a while which coincided with me buying the notes, so those could take years to recover IF THEY EVER DO. The problem with national bank notes is that more can be introduced into the market. That's an item where its value is based on known examples surviving. If someone finds more in an attic or family Bible (which happens), then scarcity reduces and so does the market on the note. So, in the case of an influx of one of those notes, no amount of time that I would see on this earth would account for the loss. Also, inflation is cruel to collectibles. Sure, I may get my money back out of it, but at a devaluation of 3.5% per year. The market on coins and exonumismatic items is HIGH and has been going up like crazy; however, no market can go up forever. On the Saloon Counterstamp, I bought well above the market now, which is high already. If the market corrects on those, it will pull back even further from my high purchase price. Taking the current high market out and looking at the average value over time of the counterstamp if the market corrects, I think it would probably take another 20 years for fair market value to reach what I paid ($640) unless another motivated collector like I was at the time comes along willing to pay higher to have the item. Being something that is in a weird category of exonumismatics, I don't see that market being nearly as stable as others over time. There are plenty of dealers and collectors who buy wrong and hold until the market catches up, they find the right buyer who is willing to pay up, or until they can pass along their poor decision to an unwitting collector. The third option I see as unethical, and I don't play that game. The second is tough and can take time if the person ever even comes along, and the first is either a good way to die with the coin or constantly wait for a dollar amount while inflation eats away at the value even further. So, just like in stocks, I cut my losses when I don't like the investment I'm in and put what's left into something that has higher potential of return. The numismatic market may trend up as a whole over time, but just like the stock market, it is filled with a diversity of dynamic prices for different individual items of which not all are going to be winners. So, in short, holding a coin isn't a guarantee the market will move up to a breakeven or win, traps the money in a loser when I could reinvest it in a better coin, and exposes the asset to further loss from inflation in that timeframe. Hope that helps out in explaining why I am willing to take a loss instead of holding and hoping it recovers and doesn't become a larger loss over time. I believe realizing losses are the expensive tuition of the trade, and dealers who avoid them often fail to learn from their mistakes.
Thanks! My goal with this channel is to combat all the misinformation online about coins and help people grow in the hobby, so showing my growth and mistakes hopefully helps some viewers think about their collection and works toward that goal. Thanks for watching!
I feel the same about most banknotes. I do like getting the Goldbacks IF I like the artwork. Seldom get them due to the high premium. AS for error coins - I avoid them unless it is a dramatic and attractive one and that usually prices them higher than I would prefer - I would rather use that money to get a very attractive unc coin.
With Nationals, the value of the notes will be higher for people who live in the city where the banks were.As far as design,rhey change with denomination and if they were 1st,2nd,3rd charters,and the 1929 small size Nationals
I'm aware of them from having a lot in the shop as well as a friend who collects them. Don't get me wrong, 1st and 2nd charter notes are gorgeous, and I think 3rd charters are nice looking as well. Ive even kept one scarcer $10 small size that I have in a shadow box of items form FNB Jackson, TN. It just wasn't for me as I said. Sure, I could collect the various denominations of different or the same banks for the various charters in a particular area (when they are available...you know how those things can hide), but I just didn't find myself liking them for my collection. As for value, absolutely they will do much better in the state. Hiwever, having talked to long-rerm national bank note collectors who rode the waves of the banknote market, I just didn't find it to be something I felt as stable on long-term for my personal collection goals. Not saying they aren't rare or genuinely valuable, it's just not my cup of tea, and I know that now after taking a couple gulps.
I always tell people collect what you like, and knowing you're a banknote collector, I assume you like them! I appreciate them, like to look at them, and definitely drool a little holding a stellar example of any large note, but in my collection it just doesn't resonate with me the same as coins and tokens do.
@@gulfcoasttreasurehunter9112 just like anything collectible,is finding the best deal for your money, doing your research,and making sure you don't get burned.That being said,I've seen a lot of coin collectors get burned on errors,fakes,and coins that are not in demand.Like you said, buy what you like, but know you might not get back what you put in.Thank you for your honest and very nice reply.Take care, have a great day
I don’t think #2 was cleaned. Sure on first, second and even third glance it would appear to be cleaned to most collectors and dealers. There are die file/polishing lines that run behind letters/devices. That’s not possible after the minting process. The devices are line free which is just about impossible. I believe PCGS graded it correctly. Cool token.
In hand you could tell they were hairlines from cleaning and clearly incuse. Also, no other example had these marks and being a very short-run private token, you would expect die polish lines to appear similarly on other examples. I wish it was otherwise, but seeing it raw, it was definitely a cleaning.
But taking another look at it, you have a good point about it stopping at the devices. I remember seeing some hairline on the bust, but they don't seem to show up in the true view. It's possible I misdiagnosed this one, but having looked at it under magnification, I determined at the time it was incuse and therefore cleaned...I guess not having it in hand now, it's hard to know for certain.
Unfortunately I bought silver for the first time at a high price unfortunately last year. The bug kinda bit me when a friend sold me a couple of pieces. Oh well.
Silver may be the one thing I don't sell if I buy high because if you watch my video about silver, I never stop buying it. I dollar cost average that and over time it makes up for any overpayment I made. This isn't financial advice, but I see bullion ad something completely different from collectibles and historically it has yielded a return that outpaces inflation. Check out that video on silver where I talk more in depth about what I personally do for that investment.
Banknotes don't have any resale value. I collect some, for fun and history, but I have no illusion, they cost NOTHING. Banknotes however could be cheap, so for poor people, like myself, they are useful to treat colleting addiction. :)
Depends on the note, just like the coin. There are notes worth quite a bit, but the volatility in the market just isn't for me. There are some really pretty ones though. I've always thought the educational series is gorgeous.
@@gulfcoasttreasurehunter9112I was just going to say the same thing I have several bills that appreciate not depreciate they're worth quite a substantial amount
Okay the first $500 witter box you just opened was a bust... lol so you have to rename this video to the six worst buys of the Year.. hi guys looks like you're having fun at the Orlando show! See you when you get back to foley. Rob
Haha! That's on Dash's list. Got 3 more to open so jury's still out.
Noticing your worst buys is definitely good to look back on. Sometimes humility can be a great teacher.
Great Video. Interesting results. Thanks for sharing.
New subscriber and enjoyed the video and honestly seeing the good / bad. Thanks look forward to watching other videos
Thanks and glad you enjoyed it!
Rather than take a loss, why not hold the coin/note for a few years and see if the market improves?? Loss only becomes realized when you sell.
That's a fantastic question and a great point, but there are some reasons I am against holding a losing position I don't believe in on any investment. Some numismatic markets do consistently gain over time, some plateau and don't even match inflation, and some actually lose over time as the general trend. They do fluctuate, but sometimes a market will take significantly longer to recover than others. The note market was crazy high for a while which coincided with me buying the notes, so those could take years to recover IF THEY EVER DO. The problem with national bank notes is that more can be introduced into the market. That's an item where its value is based on known examples surviving. If someone finds more in an attic or family Bible (which happens), then scarcity reduces and so does the market on the note. So, in the case of an influx of one of those notes, no amount of time that I would see on this earth would account for the loss. Also, inflation is cruel to collectibles. Sure, I may get my money back out of it, but at a devaluation of 3.5% per year. The market on coins and exonumismatic items is HIGH and has been going up like crazy; however, no market can go up forever. On the Saloon Counterstamp, I bought well above the market now, which is high already. If the market corrects on those, it will pull back even further from my high purchase price. Taking the current high market out and looking at the average value over time of the counterstamp if the market corrects, I think it would probably take another 20 years for fair market value to reach what I paid ($640) unless another motivated collector like I was at the time comes along willing to pay higher to have the item. Being something that is in a weird category of exonumismatics, I don't see that market being nearly as stable as others over time.
There are plenty of dealers and collectors who buy wrong and hold until the market catches up, they find the right buyer who is willing to pay up, or until they can pass along their poor decision to an unwitting collector. The third option I see as unethical, and I don't play that game. The second is tough and can take time if the person ever even comes along, and the first is either a good way to die with the coin or constantly wait for a dollar amount while inflation eats away at the value even further. So, just like in stocks, I cut my losses when I don't like the investment I'm in and put what's left into something that has higher potential of return. The numismatic market may trend up as a whole over time, but just like the stock market, it is filled with a diversity of dynamic prices for different individual items of which not all are going to be winners.
So, in short, holding a coin isn't a guarantee the market will move up to a breakeven or win, traps the money in a loser when I could reinvest it in a better coin, and exposes the asset to further loss from inflation in that timeframe.
Hope that helps out in explaining why I am willing to take a loss instead of holding and hoping it recovers and doesn't become a larger loss over time. I believe realizing losses are the expensive tuition of the trade, and dealers who avoid them often fail to learn from their mistakes.
Love the honesty
Thanks! My goal with this channel is to combat all the misinformation online about coins and help people grow in the hobby, so showing my growth and mistakes hopefully helps some viewers think about their collection and works toward that goal. Thanks for watching!
I can not wait to see the book!
Thanks! It's a history of the companies and the catalog so it's taking a lit of time. Hopefully will be finished in the next 18 months.
New subscriber 😊😊🥈🥇
Thanks for subscribing! I hope you enjoy the channel.
@gulfcoasttreasurehunter9112 😊😊 welcome
I feel the same about most banknotes. I do like getting the Goldbacks IF I like the artwork. Seldom get them due to the high premium.
AS for error coins - I avoid them unless it is a dramatic and attractive one and that usually prices them higher than I would prefer - I would rather use that money to get a very attractive unc coin.
With Nationals, the value of the notes will be higher for people who live in the city where the banks were.As far as design,rhey change with denomination and if they were 1st,2nd,3rd charters,and the 1929 small size Nationals
I'm aware of them from having a lot in the shop as well as a friend who collects them. Don't get me wrong, 1st and 2nd charter notes are gorgeous, and I think 3rd charters are nice looking as well. Ive even kept one scarcer $10 small size that I have in a shadow box of items form FNB Jackson, TN. It just wasn't for me as I said. Sure, I could collect the various denominations of different or the same banks for the various charters in a particular area (when they are available...you know how those things can hide), but I just didn't find myself liking them for my collection.
As for value, absolutely they will do much better in the state. Hiwever, having talked to long-rerm national bank note collectors who rode the waves of the banknote market, I just didn't find it to be something I felt as stable on long-term for my personal collection goals. Not saying they aren't rare or genuinely valuable, it's just not my cup of tea, and I know that now after taking a couple gulps.
I always tell people collect what you like, and knowing you're a banknote collector, I assume you like them! I appreciate them, like to look at them, and definitely drool a little holding a stellar example of any large note, but in my collection it just doesn't resonate with me the same as coins and tokens do.
@@gulfcoasttreasurehunter9112 just like anything collectible,is finding the best deal for your money, doing your research,and making sure you don't get burned.That being said,I've seen a lot of coin collectors get burned on errors,fakes,and coins that are not in demand.Like you said, buy what you like, but know you might not get back what you put in.Thank you for your honest and very nice reply.Take care, have a great day
We all been there, babe...
I don’t think #2 was cleaned. Sure on first, second and even third glance it would appear to be cleaned to most collectors and dealers. There are die file/polishing lines that run behind letters/devices. That’s not possible after the minting process. The devices are line free which is just about impossible. I believe PCGS graded it correctly. Cool token.
In hand you could tell they were hairlines from cleaning and clearly incuse. Also, no other example had these marks and being a very short-run private token, you would expect die polish lines to appear similarly on other examples. I wish it was otherwise, but seeing it raw, it was definitely a cleaning.
But taking another look at it, you have a good point about it stopping at the devices. I remember seeing some hairline on the bust, but they don't seem to show up in the true view. It's possible I misdiagnosed this one, but having looked at it under magnification, I determined at the time it was incuse and therefore cleaned...I guess not having it in hand now, it's hard to know for certain.
Unfortunately I bought silver for the first time at a high price unfortunately last year. The bug kinda bit me when a friend sold me a couple of pieces. Oh well.
Silver may be the one thing I don't sell if I buy high because if you watch my video about silver, I never stop buying it. I dollar cost average that and over time it makes up for any overpayment I made. This isn't financial advice, but I see bullion ad something completely different from collectibles and historically it has yielded a return that outpaces inflation. Check out that video on silver where I talk more in depth about what I personally do for that investment.
Copper rounds
I haven't peraonally made that mistake, but that is one a lot of people buy and regret! Especially with the super high premiums over copper melt.
Banknotes don't have any resale value. I collect some, for fun and history, but I have no illusion, they cost NOTHING. Banknotes however could be cheap, so for poor people, like myself, they are useful to treat colleting addiction. :)
Depends on the note, just like the coin. There are notes worth quite a bit, but the volatility in the market just isn't for me. There are some really pretty ones though. I've always thought the educational series is gorgeous.
@@gulfcoasttreasurehunter9112I was just going to say the same thing I have several bills that appreciate not depreciate they're worth quite a substantial amount
I'm a banknote collector, and you obviously have no idea what you're talking about