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 Replies: 40 / Views: 4,710 |
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Pillar of the Community
3352 Posts |
True enough => I merely meant that I call-foul if you buy a complete set and then "tick-off" that box so that you wouldn't have to bother trying to collect that denomination anymore, know what I mean? ... as biggfredd said => cheque-book collecting (although he used the U.S. version "checkbook")  |
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Pillar of the Community
Australia
7096 Posts |
I haven't got a check book anyway  |
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Pillar of the Community
Canada
1733 Posts |
I make sets for people all the time, they buy them to give as gifts, to get started with a solid idea of what to upgrade and build on. I'm doing a complete Liz MS red small cent set for someone right now.
They think of it as a big start instead of being "complete" and I agree, it's just a start.
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Pillar of the Community
3352 Posts |
Sure ... I guess if you are insinuating that your complete-set is merely kind of like filling one hole in a bigger-picture set, then "yes, I will okay buying complete sets" ...
Hmmm? ... but it's still a bit shaky =>
"here Jimmy, it's a complete set of Canadaian 50 cent pieces, worth $5000" ... ummm, or $100,000?
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Pillar of the Community
Australia
7096 Posts |
Quote:
Sure ... I guess if you are insinuating that your complete-set is merely kind of like filling one hole in a bigger-picture set, then "yes, I will okay buying complete sets" ...
Hmmm? ... but it's still a bit shaky =>
It's not shaky at all, Just a cleaver buying strategy |
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Pillar of the Community
3352 Posts |
 Yah, ummmmm, sorry => If I'm ever losing an arguement, then I randomly post a photo of one of my kids ... this time it's Larry ("she" is pretty good with our -40 degree frozen-North temperatures) ... oh, and if I ever have any strong opionion then I might fire-back, but for now I'm good with saying => okay you'e 100% correct => coins rock!  |
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Moderator
 United States
188913 Posts |
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...the only time that acquiring a complete set is acceptable is if your Granny (or a close relative) leaves it to you when they pass-away... then the complete set is extra special because you know that your relative must have spent time and effort collecting and enjoying the set... but sadly, even then it is only valuable to "you", nobody else would pay for that extra sentimental bonus! It does not matter. A set like that should never be sold or broken apart! |
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Previously Banned Member
107 Posts |
Collect4Fun
I have been collecting for over 40 years and have been selling for about 8 years. In my opinion, the answer to your question is NO and YES. Like many collectors, I am a "hunter" of coins both in terms of finding the coin and finding the deal. So, for collectors like me, the answer is NO. I do not want to buy a collection from another hunter. I enjoy the hunt. However, since I have been selling coins, I have met another type of coin collector - the "non-hunter" sometimes referred to as the "lazy" collector. I have several of these "non-hunters" as clients and it is these "lazy collectors" off whom I can make a few bucks. The "non-hunter" wants the finished product and he is willing to pay for it. If I find a complete set for sale, I go to one of the "non-hunters" and tell him about the set that I can get and, after very little discussion, he usually says "send me an invoice". If he doesn't, I call the next "lazy collector" on my list. In other cases, one of those collectors sees a set that his buddy has and he calls me to find him a set. Of course, I have to hunt for individual coins until the set is complete. So back to your question and the answer YES. These lazy collectors will pay 40% to 50% over the total price of the individual coins in a set of coins. I think I should try for a 60% mark-up on the next set I sell to one of those "special" clients of mine.
Edited by coinvet
02/02/2012 12:36 am
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Pillar of the Community
United States
1817 Posts |
I agree with most of the comments on this thread, but can think of an exception: #1 registry set in those things called slabs with high numerical grades, particularly from a well known numismatist or the majority of coins have a pedigree. I might buy the set as is, and it would probably be worth more intact than the parts sold individually.
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Previously Banned Member
107 Posts |
To confirm my point, I puchased a 28 coin set (14 x $10 & 14 x $5) of Canada 1976 Montreal Olympic 92.5% silver coins. The total silver weight is s little over 30 ounces. I paid $1100 plus $35 shipping for this set at 8 am this morning. By 10 am I had it sold to a client for $1575, so $1575 - $1135 = $440 profit. My return on investment was nearly 39% within 2 hours. This is what I call short term investment. Most of my coin investments are for the short term or medium term. Buy low and sell high and keep inventory minimal, except for your long term investments. Remember, I sat on my silver for 8 years (2003 to 2011) and had over 800% return. The following image is like the set that I purchased. I am watching the set in the photo and may also purchase it if I can get it for under $1200, the starting bid is $1095 and with only 11 hours remaining, there are not any bids. If I was buying this set as a coin collector, I would consider it a bargain at $1400, but I would go as high as $1550 if I really wanted it for my colletion. As a coin investor, I cannot pay more than $1200 for this set and $1100 is my benchmark and I would consider it a bargain at $1000. A coin investor has to be far more disciplined than a coin collector. I often compare coin investing to real estate investiong. If I purchased 3 two-apartment homes to rent in 2003 for $160,000 each and sold them in 2011 for $349,000 each, I can say I made a sound investment. However, if I purchased a family home in 2003 for $160,000 and sold it in 2011 for $349,000 I would now need another family home and if I bought a comparable home to the one I just sold I would have to pay $349,000 (or more). On the family home, I really did not gain anything. Take coin collecting and coin investing for what they are ... two vey different ways of looking at coins (sometimes the same coin). If you are a true coin collector, do not worry about making money but rather enjoy the coins. If certain coins in your collection increase in value, that is great but only if you sell those coins and do not replace them. The problem with most coin collectors is they do not want to part with their most valuable (profitable) coins and this is the main difference between a coin collector and a coin invester. Coins collectors die without disposing of their collections. Many say they want to pass their collections (investments) on to their children. Then, the kids sell the collection to a dealer for 50% to 60% of the retail value and take a trip to Disney World. However, it is a great investment for the coin dealer like me who buys your coins and sells them for nearly double for what your kids accepted.  Edited by coinvet
02/02/2012 11:26 am
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Rest in Peace
United States
9104 Posts |
Interesting you choose that example, but that's no sort of investing, it's simply called dealing, not that there's anything wrong with that.
That set, $210 face, at one point was worth considerably less than face value for its 30 ounces of silver. A bunch of dealers tried to turn in a few hundred thousand dollars worth, and no Canadian bank would accept them, even as a deposit. The mint eventually let them spend them for other mint products.
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Previously Banned Member
107 Posts |
I call it investing ... that example was a short term investment .... I do the same with certain stocks. I sometimes buy shares early in the day and sell them later that day or the next day or the nest week. Like the stock market, with coin investing you have to buy low and sell when its higher, timing is everything. You have to get in and then out with more than you had before you got in.
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Rest in Peace
United States
9104 Posts |
Quote:
I call it investing ... that example was a short term investment .... I do the same with certain stocks. I sometimes buy shares early in the day and sell them later that day or the next day or the nest week. Call it whatever you want, it's dealing. When done with stocks, it's called day trading. |
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Pillar of the Community
Australia
7096 Posts |
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Call it whatever you want, it's dealing. When done with stocks, it's called day trading I call it taking advantage of the slow or simple minded |
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Bedrock of the Community
United States
20753 Posts |
Almost anything that some use as a hobby can be turned into a profitable item. For example there are those that rebuild old cars and resell them for a profit. Others would rather take their time and rebuild one themselves. To buy an old car already fixed up can be fun but never as much as if you did it yourself. Building a flying type plane is another example of what some buy complete and others build themselves. Of course with that one when it crashes, and many do, it hurts a lot more if you did the building.
In the past I noticed when I was a kid, others that just bought or were given a car never really took care of them. Why should they? Just a car to them. BUT those that spent hours on even just the carburator also spent a lot of time washing, waxing, vacuuming that thing. They cared since it was now part of them.
Coins are sort of like that. For those that just buy a collection, when it is sold, so what. Just coins. I would suspect, maybe wrong, but anyone that spends hundreds of hours building a collection and had to sell it, would be like that person with a home made plane that crashed. There is a pain in loosing something that is part of you. Might well be why I just can't sell any of my coins.
And if I did ever inherit coins, again, they would always to me be a part of the person that left them to me. Would sort of be like selling memories.
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Replies: 40 / Views: 4,710 |
First Page
Posted 01/28/2012 6:26 pm
