What is the biggest collecting mistake you’ve made?

When I go to coin shows, I seem to always find that certain coin I really want, pay for it, and bring it home. When I go through my purchases, I find out I picked up the wrong coin, and worse, I already had it. This has happened so often that I have a box full of my mistakes.

Roy Robertson, Address withheld

Mine was not realizing I could afford a very rare Burmese silver coin that came up for auction in 2019. I thought I couldn’t swing it financially, but I could if I thought outside the box. I could have had it since no other collector of Burmese material appeared to be bidding in the live auction. I’ve regretted the decision ever since.

Phil Hauret, Address withheld

Selling. I had an eye for great coins. Likely today, they would be among the finest graded, but along the line, I succumbed to the allure of the dollar and the profit margin. Among the coins were a fully struck 1941-S WL 50c, 1851-O 3c silver, 1852 3c silver, 1909-S VDB 1c, a nearly complete set of gem Barber 10c, a 1907 5 coin proof set, numerous Morgan now recognized in MS67-68 holders and more.

Gary Burhop, Address withheld

The biggest mistake I’ve ever made was to assume the coin was nothing.

Kyle W Clarke, Address withheld

I didn’t buy a $10 gold Turban Head back in the 1980s. It was $100 over spot.

Lyle Daly, Address withheld

By far, the biggest collecting mistake I’ve made is not properly learning how to grade coins in the 1970s, when they were all raw.

As a newbie to the hobby then, I have bought cleaned coins, AT coins, a few polished coins, and even a tooled large cent. Fortunately, most of them were under $100. Even some of the coins I bought at auction by the large houses were misrepresented.

I have used these errors to learn how to properly grade all the series I collect, so now I consider myself proficient. I hope to attend the ANA convention and take an advanced grading class in the future.

Also, whoever said, “Buy the book before the coin,” was spot on.

Roy Herbst, Address withheld

Started collecting when I was 10. Had all Indian and Lincoln cents. Missing key date higher value coins. Had all V nickels and Jefferson nickels. Had all Roosevelt dimes plus all Washington quarters. All Kennedy halves and all Ike dollars. All in Fine to Proof grades. Until 1978. I sold it all.

I just have a few coins now in my 70s.

Paul Hildebrand, Address withheld

Not starting sooner.

Thomas Hale, Address withheld

The biggest mistake I made in coin collecting was when I was just starting out in my teens in the early ’70s. A friend of mine told me about a San Antonio dealer where he used to get coins at great prices, especially BU coins. I bought quite a few coins until I started suspecting the quality and found out years later they were all whizzed and worth a small fraction of what I paid for them.

Louis Ludiciani, Cumberland, R.I.

Without a doubt, my biggest collecting mistake has been annual purchases of many U.S. Mint products, including modern mint sets, proof sets, and commemorative coins. These items were overpriced when issued, especially modern commemorative gold and silver coins, which imposed surcharges that went to special interest groups. I have made unrealized gains on some American Eagle programs and some gold issues, but it has taken many years for these coins to overcome the hefty Mint spreads over spot prices. As a result I have turned my focus to the beautiful American classical issues from the past 200 years as well as beautiful low-mintage modern Mexican Libertads.

Bill R., Address withheld

Selling my ANACS XF 1877 Indian Head cent for what I paid for it.

Joe G., Carlsbad, Calif.

I bought several high-value uncertified coins (1909-S cent, 1921-D half dollar, 1928-P dollar) that were cleaned or had edge nicks before I really knew what I was doing.

Gary Hudeck, Address withheld

I stopped collecting in my late teens. I just now picked it up again in my senior year.

William Rubenstein, Address withheld