Quick Query. What do I do?

[abhinumis]

I'm getting a 1909 Edward Rupee Calcutta Mint from a local jeweller near my home. He is asking 1150/- rupee for the piece. I've done the ping test and the coin is in all probability a genuine peice. The grade of the coin is F+- XF, now I'm confused whether to take it or not.. The upside is the date 1909 which is uncommon among the edward rupees and not easy to get but the downside is that the grade of the coin is a bit lower than what I wud like it to be ideally. What do u all feel should I do?? Go for the coin at the given rate or wait for a better grade coin??

[Md. Shariful Islam]

If you don't take it, take it for me .

Islam

[repindia]

This coin is not something which is rare so I would wait and pass on the offer.

[Harry]

Abhishek,

I face this dilemma quite often and I'm sure others do too. As collectors we are really excited to find the date or type of coin and our first instinct is to buy because we have been seeking it out for quite some time.  However, I would say hold off and go for a better grade, the grade and type that you really want.   The 1909 Edward Rupee is scarce but not at a F or F+ and should not command much of a premium. 

I faced the same issue with a 1862 1/2 Anna that I have been looking for for years, I could get them at F or VF and they are not expensive.  Last year I saw one in AU and was so tempted to buy it (even though I wanted an Unc) and a good friend advised me to hold off.   I held off and recently I got the 1862 ½ Anna in Unc.  Looking back I think it was the right decision to wait. The way I see it, I'm a lifelong collector so if I get a coin now or in two years  it makes no difference. 

So be patient and go for the grade and condition that you really want. 

[PeaceBD]

I was in the same situation recently. I was offered a 1922-B rupee in Uncirculated condition with brilliant luster (based on sellers description and pictures) at a price which was hard to pass on. I am trying to collect these BI coins in MS64/65 grade. So the coin would not exactly fit in my collection. But I believe the coin based on the pics would give me pleasure to own it plus considering the price I would pay I could recoup the cost right away. I might get one in gem grade later when it is offered but it won't hurt to own this one too. That is how I go about it. I have deviated on my own collecting principal on this one. If it was a more common date I would have passed as I recently did on a 1886-B rupee which was in a ANACS MS 62 holder.
I would say if you know you would not be happy with the coin do not bother. Especially if it is a common date and grade.
BD

[Figleaf]

I think it depends on your collecting philosophy. If you collect strictly for yourself, it pays to buy it for Islam . If you get a better preserved coin later, selling the first one will be hard and you'll probably lose money. If you collect for other purposes also (e.g. as an educational tool or to amuse friends and visitors), showing as many dates as possible becomes more important and may become worth the loss you should expect, taking into account the risk that you don't find a better specimen.

Peter

[abhinumis]

I think I'll let the coin pass off.. Thanks Repindia, Harry, Bhushan, Islamda For ur valuable suggestion. It really helped me to come to a conclusion and decision. I feel most of us collect coins as they are a source of great pleasure and satisfaction for each one of us.. So I think I'll take those coins which will make me satisfied and I was sure about this particular 1909 rupee. And Harry put it absolutely right we are lifelong collectors and patience is a great virtue for us. 1909 rupee cannot be said to be something rare so I'll wait. Thanks again to all of u wonderful people and I wud look forward to many more advices in future......
Cheers

[Md. Shariful Islam]

Asking only from curiosity. Have you got a better one according to your desire? Today I got one in less grade and I was seeing a 1909 for the first time. Failed to hold off in greed of filling the blank for completing Edward rupee. Done. Paid high. But I am happy.

Islam

[abhinumis]

Not yet Islamda!! Still looking for one. Good that u picked up what u got! do share with me the pic of the 1909 rupee

[squarecoinman]

I think Peter hits the coin on the head, it depends on your way of collecting, I for myself would buy it if it would fill the blanc in my collection, and then later i will be on the lookout for a better grade.  If i would find the better grade I would still keep the first one. I would feel very unhappy selling it , but i may give it away to another collector that is missing it.

scm

[The Oracle]

I am trying to collect these BI coins in MS64/65 grade.

. If it was a more common date I would have passed as I recently did on a 1886-B rupee which was in a ANACS MS 62 holder.

Best of luck you are going to need it.  they have stopped restriking the coins 

how much was the anacs thingy?  i am not biased against anacs or ms 62