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 Replies: 38 / Views: 4,724 |
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Pillar of the Community
United States
570 Posts |
Quote:
One of the "problems" of coin "investing" is that the typical collector can only buy retail (often plus sales tax) and sell wholesale. That puts the collector at an immediate disadvantage if the "spread" between wholesale and retail is large. The retail price may double but you still may only break even. Less true these days. Online marketplaces have removed that barrier. Get an ebay account, build up some feedback and boom, you're a dealer. |
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Pillar of the Community
Canada
5241 Posts |
Quote:Venues like ebay can close the gap, but it still requires effort upfront to be successful. Quite true. I might also argue that it is also true for most investments. If you enjoy what you are doing, you have gained entertainment value whether or not you have also gained money. If you enjoy the hunt then it is a plus. |
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Pillar of the Community
 United States
3160 Posts |
I still enjoy the hunt but have found much less bargains on e-bay than say 5 years ago. Even though I have bought and sold hundreds of large cents I have kept maybe 100 or so. My comment about lower grade key date coins was simply stating a fact about buying at retail at whatever the prices are for that time is hard to do without losing money. I feel a very high grade example might have fared better but would be a large initial outlay.
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Pillar of the Community
Canada
3733 Posts |
there is money to be made buying and selling, there are thousands of people doing it.. But you have to have time and money in your hands.. You buy coins that are under priced or under graded,or under appreciated.. then you buy them, price them accordingly and wait for the right buyer to come along.. This isn't an immediate flip for 2 fold.. But if you know what you are doing you can certainly do well at it.. Not for newbies, or someone who need's their money back right away..
just my opinion..
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Moderator
 United States
188648 Posts |
Quote:
If you enjoy what you are doing, you have gained entertainment value whether or not you have also gained money. If you enjoy the hunt then it is a plus.  |
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Valued Member
United States
416 Posts |
For the most part there aren't any great bargains on ebay when you buy, nor any giant losses when you sell, as long as it's stuff that lots of people want. Watch enough auctions and you get a level of confidence. So anything I buy, I figure I can sell for a similar amount later on, and the price of ownership is just the ebay fee plus shipping or whatever .. well worth the enjoyment of having the stuff in hand. The idea of selling for 1/2 what you paid, or "no one wanting it at all" , that doesn't make any sense if you are buying stuff with a regular market. |
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Pillar of the Community
Russian Federation
1557 Posts |
It is very difficult to make money on coins if you are not a large dealer who has a customer base. The problem is that before buying, the seller finds out the approximate cost of the coin and is unlikely to put it cheaper than the market + delivery. Therefore, I have long accepted the fact that I can hardly sell my coins for more than I bought them. ebay showed us that coins that previously seemed extremely rare to us were not really so. I am almost sure that there are still very few Russian coins on the world market due to the law banning the export of coins. Now about the overvaluation of US coins. Yes, this is probably true, but I remember how one of the topics on this forum said that in the near future, coins of developing countries such as India, Indonesia, and the Philippines will become more expensive. Perhaps we should all pay attention to these coins. On the other hand, the market for US coins is very large and there is a good chance of good revenue for the sale of a particular coin. |
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Pillar of the Community
United States
614 Posts |
I usually only sell doubles I end up with for whatever reason it happens.
For me it's the history of it. Your holding a coin, and check the what was happening on this date in history.
Now imagine what tale that coin would tell.
If Your trying to just make money, it's a job that requires patience, and a lot of capital lol
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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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Replies: 38 / Views: 4,724 |
First Page
Posted 09/10/2020 5:42 pm
