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 Replies: 28 / Views: 3,958 |
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Moderator
 United States
189767 Posts |
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I learned a long time ago, this is a hobby for me and not an investment.  |
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Pillar of the Community
United States
2543 Posts |
Unfortunately it is the same way as making money flipping property and autos. Go on Craigslist , auctions , estate sales, find distressed people desperate for money, willing to sell their prized possessions for pennies on the dollar. Take advantage of them and then flip their desperation for profit. I know ...... I know, cynical and depressing.
About six years ago I was in desperate need of cash to keep my business afloat until the economy snapped back. I brought my coin collection and world silver collection to two different coin shops, one of which I had bought many of my coins from. They offered me spot for my MS 69 and 70 world silver , under spot for my MS 68's and pennies on the graysheet value of the rest. " take it or leave it "
Luckily I didn't take it or leave it and found other financing. Call it just business or what you will, but that is the way to make money flipping slabs.
I just put four MS 69/68 Panda,s on Craigslist last night . Some guy just emailed me this morning that he will give me $120.00 for the lot.
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Bedrock of the Community
United States
17884 Posts |
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If I just knew I could break even on a coin shop it would be a no brainer as I have other business that I generate income from. If you are breaking even, you are not generating income. |
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Rest in Peace
United States
10625 Posts |
I am positive it would not work for me. I would want to keep everything.  |
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Pillar of the Community
United States
615 Posts |
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I am positive it would not work for me. I would want to keep everything. That's easy. Only buy coins you don't like. I stay away from IHCs currently, if I bought any, I'd never sell them.  |
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Moderator
United States
189767 Posts |
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Only buy coins you don't like. Easier said than done. |
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Pillar of the Community
United States
615 Posts |
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Easier said than done. I got a few hundred pounds of Mexican that might change that opinion haha  |
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New Member
 United States
3 Posts |
WOW!Thanks for all the replies and info. to my original post. What about Gold (or silver) antiquated coins 10, 20, 50+ years ago as a short term coin investment? It would seem to me that a gold coin dated, say, 1900 would have a double valuation on it-the metal price and the collectible value price. Are these very profitable as a short term investment? Thanks, Dan
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Pillar of the Community
United States
3453 Posts |
All the advice given above hold doubly true for coins as a short term investment.
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Pillar of the Community
United States
919 Posts |
Dan, check Heritage Auctions for past deals. When gold fell to $300 an oz in the early 2000's the $20 pre33 gold coins fell to that as well. Gold coins (unless you are talking the high grade coins) follow spot plus some premium. The premium changes some but not a lot.
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Bedrock of the Community
United States
36880 Posts |
Much harder to make profits than one might think as you'll win on some but also lose on some. It all boils down to how cheap you can buy the coin that you plan to flip, providing it is graded properly.
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Bedrock of the Community
13014 Posts |
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Thanks for all the replies and info. to my original post. What about Gold (or silver) antiquated coins 10, 20, 50+ years ago as a short term coin investment? It would seem to me that a gold coin dated, say, 1900 would have a double valuation on it-the metal price and the collectible value price. Are these very profitable as a short term investment? Really depends on the coin. Rare coins generally wont have huge price increases over night like that. Basically in those cases your potential for a short term investment will be tied to the precious metal market. If gold or silver goes up significantly you win, if it goes down you lose. |
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Valued Member
United States
467 Posts |
The easiest coins to flip for short term profit are low mintage new releases that can be flipped on ebay or some other outlets of the like. There are not very many of these per yr and sometimes are hit or miss. Be prepared to lose on some of these ventures. This is speculation. |
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Replies: 28 / Views: 3,958 |
First Page
Posted 12/19/2012 1:08 pm
