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 Replies: 846 / Views: 86,650 |
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Pillar of the Community
Canada
2124 Posts |
"If I'll sell it just because of raising in price, and later will search for bargain - why I need it at all? We have many nice coins reduced, why to chase for something old (NCLT I mean)."
Well, many people say that they sell (flip) just to help them buying more coins with the profit.
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Pillar of the Community
Canada
1751 Posts |
Like Arianzo pointed out, the profit goes towards buying coins I wouldn't otherwise be able to afford. Addressing why buy older coins rather than new, because everything becomes old, can't always chase new! If old art like Mona Lisa didn't hold value, there'd be few art collectors. Bare in mind value can be personal and not related to money always. It's hard to keep up with new releases, so if I like a coin, I don't care how old it is, I will still buy it. To me collecting isn't about staying current.
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Pillar of the Community
Canada
2984 Posts |
Flipping coins to make money to buy coins you like is a good idea. I try to do that too.
Unfortunately that is hard to do because none of the coins this year except the Gold Superman coin is profitable. After all the eBayéPaypal fees I end up losing money, breaking even, or minimum profit like $10 a coin. You would be better off playing the stock market.
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Pillar of the Community
United States
1026 Posts |
I fear that with gold spot dropping, these will be worth less than issue in the near future.
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Valued Member
Canada
204 Posts |
I think it depends on your location and how you sell the coins, I got a profit of around $1250-$1300 out of superman, more than enough for a full years spending on coins I like
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Pillar of the Community
Canada
6768 Posts |
 That's right. According to the local Kijiji adds, I saw, that the minimal sales were in "City of Toronto", where few sellers asked $890-$950 for this coin. However, in other area someone had it for sale for $1800. |
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Pillar of the Community
Canada
1751 Posts |
I agree as well and add patient is a big factor. I routinely get top dollar, when I sell, it's never quick. I take the attitude: I don't care if or when it sells. I takes a certain personality to be able to get good prices.
I get $30 for $20 for $20 coins, some a litte higher. I think when people stock pile, and prices start sliding, them people panic and lose money. I see a handful of sellers, who routinely get above average prices. It depends on your approach and attitude.
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Pillar of the Community
Canada
1528 Posts |
Quote:
Unfortunately that is hard to do because none of the coins this year except the gold Superman coin is profitable. After all the eBayéPaypal fees I end up losing money, breaking even, or minimum profit like $10 a coin. You would be better off playing the stock market. It may be true that Superman gold is the only hot coin this year. It doesn't mean people can't make money flip other "non hot" coins. If you are hoping for $100 profit for each coin, keep on waiting for those opportunities. It only comes once or twice a year. I am doing ok flipping coins to add to my collection. I am ok with making lil money as for me, it doesn't require much effort. Put the coin in the box, walk to post office which is 5 min from me and ship it. It takes less than 20 min. $5 profit for a coin? What a waste of time. Well, true but it keep my mc status and again, I don't find it inconvenient to get rid of a coin I no longer like. Instead of having it sit there doing nothing, I sell it to someone that might enjoy it. I even sell them below cost at time locally. It's nice to see someone enjoy the coin that I no longer enjoy, even if I loose money on the coin. The point is I get rid of something I no longer enjoy and use that money to buy something else I enjoy. I know it frown upon here regarding MC status but I don't mind. I am buying coin anyway, might as well keep MC status. It kinda like people complain about 1% cash back. If I am gonna buy stuffs anyway, why not get what ever bonus that come with it. |
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Pillar of the Community
Canada
2984 Posts |
Lostwords, how could you make any money by flipping "non hot" coins when there are eBay/Paypal fees of 13%, if you are not a dealer? On top of the 13% fees, I have to pay another 7% PST since I live in BC. That mean I have to mark up a coin by 20% just to break even. For example, for a $120 coin, I would have to sell it at $144.00 just to break even. To me, a non-hot coin is one that can be found at the Post Office, big dealers like Gatewest Coins and Colonial Acres, and local coin shops at issue price. And non-hot coins account for the vast majority (95%+) of the coins issued by the RCM. How can you sell above issue price when so many places have them at issue prices? Or below issue price when dealers like Colonial Acres have their frequent sales. On top of that, moderately hot coins like the Glass Frog coin have fell drastically in price. You can buy them much cheaper now, as they can be bought for near issue price. It seems the longer you hold on to coins, the less value it retains. Edited by MoneyPenney
11/01/2014 3:50 pm
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Pillar of the Community
Canada
1751 Posts |
@ lostwords Great Post! I agree 100%. @ MoneyPenny I can sell a 1973 or 1975 silver dollar I pay $10 for $25-$30 and over 100,000 were minted. There are buyers out there that choose to pay more for costumer service/ some don't care how much they pay, if they like the coin. Not all collectors seek deals if they love the coin! We forget not all consumers seek deals, some are impulse buyers, not all collectors read forums either. Look how many consumers file for bankruptcy yearly or make only minimum monthly payment on credit cards. Most people aren't gifted money managers.
I'm able to expend my coin collection by selling ordinary coins. If I had to reliable on non coin income, I'd have a meagre collection and nothing to talk about. I also have a store so I only pay 9% fees. Living in AB there's no extra taxes on 99.99 silver.
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Pillar of the Community
Canada
2984 Posts |
pocket change 50, not everyone has an ebay store. Especially if you only have 10-30 items at any one time. The monthly fees will kill you if you don't sell much. Sometimes I don't sell anything for weeks at a time and the monthly fees will not cover what I sell. And how many of those $10 1975 silver dollars do you sell each week? Enough to cover your costs? I did a quick check on ebay ended auctions and there were very few 1975 silver dollars sold. Edited by MoneyPenney
11/01/2014 5:29 pm
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Pillar of the Community
Canada
1528 Posts |
Quote:Lostwords, how could you make any money by flipping "non hot" coins when there are eBay/Paypal fees of 13%, if you are not a dealer? On top of the 13% fees, I have to pay another 7% PST since I live in BC. That mean I have to mark up a coin by 20% just to break even. For example, for a $120 coin, I would have to sell it at $144.00 just to break even. To me, a non-hot coin is one that can be found at the Post Office, big dealers like Gatewest Coins and Colonial Acres, and local coin shops at issue price. And non-hot coins account for the vast majority (95%+) of the coins issued by the RCM. How can you sell above issue price when so many places have them at issue prices? Or below issue price when dealers like Colonial Acres have their frequent sales. you assuming everyone is like you, me and folks in this forum and RFD. Not everyone know where to get coins. Not every post office have every coins they wants. In fact quite a few of the people I sell coins locally don't even know GW or CA existed. I know it's hard to believe with technology today that people still don't know how to google search for stuffs and don't know how to research for stuffs they buy, but these people do exist. Plus, some have a life and have no time to looks at the forums daily for deals. To them, let pay a few $ extra (which they could afford) and use the time to spend on other things such as family and friends. Again, let me restate this, not every coin I sell make money right away. I've recently sold some coins that I lost money one. Ex: I purchased the royal baby set. I purchased it because I had a lil girl last year and figure I wanted something different than the usual baby coin with the baby feet. We can all agree that this set is not hot. I liked the set but this summer, I took it out and look at it again and decided that I no longer like it and my daughter won't appreciate this years down the road. So I put it up on Kijiji and sold it for $190. A lost of $60. I meet the people I sold to and they were ecstatic to have the set. They were buying to give it as a gift to a friend that have a son born on the same day as prince George. They got my contact info and occasionally they buy other coins from me or I ordered coins for them and sell to them at cost. There's not much to gain in this transaction other than meet other collector and able to help them out. That being said, the $190 that I got from selling the set, I use that money to buy other coins that I liked. So it all work out for me. If you in this just to flip coins for profit, then that's a different story. Most folks here are collector at heart and occasionally flip. To me, it is just same as trading coins. I don't like trading coins because it is hard to find the right value for the coins between the two party. |
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Pillar of the Community
Canada
1751 Posts |
Checkout ebay seller: little Debbie's fun stuff. Here's a few of her Solds :2012 $20 canoe $55/ 2001 proof Twoonie $31/ 2012 $20 queen $55/ $20 for $20 polar bear $40/ 1927 nickel $17/ 1993 silver dollar $70 / 1996 silver dollar $33. These prices are in USD. The seller is also top rated, so saves 20% on fees. This just shows it's doable if a person wants to be a serious seller. I agree 100% with Lostwords posts. It all depends on what your goals are and how determined you are. Another example: 2015 the Wolf Proof, I sold 3 the first week of MC for $150 USD. I sold through ebay. There's are certainly not hot coins. |
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Pillar of the Community
Canada
6768 Posts |
Quote:Checkout ebay seller: little Debbie's fun stuff. They have very nice stuff, presented well, but overpriced. Well, they usually accept reasonable offer. So yes, he/she serious seller. But let's go back to Superman :) I see some member in other forum like me, just returned coin to the RCM. And some rerent sales show that it not worth to deal with it. (Of cause, some of people earned couple of hundreds on it, why not). So basically, if you serious seller, with good finance stand, and you ready to spend a time and do effort - you will be good with re-sale. Occasional seller - yes, will "make" some amount, and there is a risk involved too. |
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Pillar of the Community
Canada
1751 Posts |
Looking at a broader picture there's nothing in life that's not risk free. Everyday of living is full of risks. It comes down to individual risk tolerance and managements. We are all different in our success rates. I'd love to get prices like little deb, but I'm not on that level and may never attain it, and it's okay with me. Sometimes I will partner with others, and we help each other. Many times a profitable sale can be hit or miss. ebay sales are a mystery many times. Some sellers get phenomenal prices, whiles others sell at give away prices. This applies to all coins, not just superman. |
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Posted 10/21/2014 3:07 pm
