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 Replies: 38 / Views: 4,723 |
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Pillar of the Community
United States
570 Posts |
It does require patience and capital, as well as a few other things, but for me, it certainly does not feel like a job.
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Pillar of the Community
 United States
7941 Posts |
I was only a buyer until 8 years ago, when I decided to sell off most of the world and U.S. coins I had collected as a kid, and focus my new collecting on 4 themes (in world coins) that interest me now, 40 years later.
Because all of those coins I began selling were bought more than 40 years ago, it was interesting to see which had appreciated and which had not (though my purchase price records were kind of spotty). But that's a lot different than buying with the intention of re-selling.
These days I occasionally buy a small lot (2 to 6 coins) to get a specific date or type I want, then re-sell the others. Usually it works out pretty well, I guess because when you buy a lot, you're paying closer to "wholesale."
Edited by tdziemia
09/13/2020 10:03 am
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Pillar of the Community
United States
7941 Posts |
I get a sense that there is a certain amount of activity in the world coin market of buying up high quality raw coins, sending them in for grading, and re-selling.
As pointed out upthread, you'd better know what you're doing (and have some capital on hand), or you will lose your shirt on the cost of grading. I doubt it's collectors like me doing this... probably experienced dealers with established relationships with the TPGs.
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Pillar of the Community
4628 Posts |
I am between the 2, I will buy a coin if it interests me and its expensive and rare and I can afford it, but 99% its for enjoyment, education and erudition.
I love categorising and ordering inanimate objects (Blame me being gay and having autism) and coins fill that void. There's a real joy watching a coin type evolve over 300 years and I never buy for profit.
But on the other side of the coin, If I had a real financial crisis I would have to sell some or all of the coins. And I am aware that they are worth money and at least their silver value (A year ago I had 13 silver coins, now I have 643 and they weigh over 3.4kg of silver (About 7˝ pounds or 120 ounces).
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Bedrock of the Community
United States
17884 Posts |
Quote:Venues like ebay can close the gap, but it still requires effort upfront to be successful. And even with ebay there is still that 13% bite they take. So you have to get at least 13% more just to break even. |
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Pillar of the Community
United States
570 Posts |
13% is a whole lot better than the old days when you sold to a dealer at 50%. I don't like paying the fees that come with selling on ebay but they do bring the buyers. It's particularly great for coins which attract a smaller segment of the market. |
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Pillar of the Community
United States
3237 Posts |
Who says we younger people don't collect anything?
Granted, a lot of us can't afford to because the Millennial generation hit the work force during two of the greatest economic recessions of this century (first 08, now covid).
Edited by SamCoin
09/15/2020 11:06 am
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Moderator
 United States
188643 Posts |
Quote:
13% is a whole lot better than the old days when you sold to a dealer at 50%. I have to agree. |
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Pillar of the Community
 United States
3160 Posts |
I think the younger generation tend to be minimalists. Not saying there are no younger collectors out there but not nearly as many as say 50 and older. Yes paying e-bay fees beats the offers most dealers will give you. My main reason for starting this post was to say if you pay close to full retail for an expensive key date coin and then expect it to increase in value in say 8 or 10 years it does not work. This I know now just not when I started.
Edited by jerryc39
09/15/2020 4:11 pm
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Moderator
United States
188643 Posts |
Quote:
My main reason for starting this post was to say if you pay close to full retail for an expensive key date coin and then expect it to increase in value in say 8 or 10 years sometimes does not work. This I know now just not when I started.  |
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Pillar of the Community
United States
5672 Posts |
ebay is not a totally efficient market, and the final sold prices for comparable coins can vary quite a bit, especially for items sold by auction. If you're careful about your bidding and good at interpreting mediocre photos, you can do pretty well flipping coins bought by auction and then listed buy it now with some patience. Doesn't always work out, but you can usually beat the 13% cost of selling on ebay.
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Pillar of the Community
United States
570 Posts |
Agree, Zurie. Heck, I sometimes look for bad photos. :)
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Pillar of the Community
United States
7941 Posts |
I don't buy with intent to quickly flip, but I agree that poor photos and low seller feedback can add up to a good opportunity for a bargain.
Edited by tdziemia
09/15/2020 7:41 pm
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Pillar of the Community
United States
3160 Posts |
used to buy and flip large cents often. Bad pics sometimes worked out well sometimes not so much. The prices have gone up so much that its much harder to do now IMO
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Moderator
United States
188643 Posts |
Quote:If you're careful about your bidding and good at interpreting mediocre photos, you can do pretty well flipping coins bought by auction and then listed buy it now with some patience. Doesn't always work out, but you can usually beat the 13% cost of selling on ebay. I suppose it should be said that using better photos for the flip will contribute to your success. |
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Replies: 38 / Views: 4,723 |
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Posted 09/13/2020 09:58 am
