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LeoS's Last 20 Posts
| Please Help Selling Dad's Coins
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LeoS
Valued Member
United States
168 Posts |
 Posted 09/29/2022 3:33 pm
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I would suggest taking to 2-3 dealers, tell them you will be taking to 2 others and will be selling for highest offer. That keeps everyone as close to honest as possible.
I dread the day my kids have to do this, I am starting to thin out my stuff and move into gold/bullion, which will be less confusing when they try to sell.
Good luck and what a great gift dad left you! |
| | Forum: Main Coin Forum |
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| Auto Coin Roller/Wrapper?
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LeoS
Valued Member
United States
168 Posts |
Posted 03/16/2015 8:56 pm
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| I will be using my $20 amazon scale, which I bought to weigh 82 pennies. Simply count and weight 40 nickels once and then go to town making perfect counts every time. |
| | Forum: Coin Roll Hunting |
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| P M ?
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LeoS
Valued Member
United States
168 Posts |
Posted 03/15/2015 1:01 pm
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yup, I get that, but "averaging down" by definition indicates you know it's still going to fall further, which only a fool would do. However, sensing the bottom (since it cannot be predicted), and buying can have it's rewards. As an example, if the "real bottom" is 15 for silver, and I bought 1,000 oz at this price, at $18 (not including premiums), I could see a return of 20%. Waiting these chops and minor rises, I might begin to buy at $30, in which I would:
1. only be able to buy 1/2 as much, or 500 oz
2. have to sell at $36 ($6 increase), which is a lot more heavy lifting vs 15-18 in previous example
However, I would have the same % and $ gain in either ($3,000)
I think for a lot of us physical stackers, it's not a averaging down, but a dollar cost averaging effort, as many don't have $100,000 as disposable money just sitting and waiting, so we nibble at $200, $400, and then when the price drops, we might double down (or more) and buy a couple ASE tubes when price is (or appears low). The money spent makes us feel better about what we bought at $30, and continues to build this. I still stand by my thought communicated to you a couple months ago, I think the paper market might have a day of reckoning, and when a lot of people want delivery, or if/when the market starts to climb and people want physical, it may be tough to get your hands on without huge premiums. |
| | Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum |
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| P M ?
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LeoS
Valued Member
United States
168 Posts |
Posted 03/15/2015 12:19 pm
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I dont think the comment regarding YUP was a personal attack. I too would caution anyone who blindly follows someone else's word as gospel. I have watched these threads and "catching a falling knife" analogies.
No one knows where the floor is. We could be there now, or at $4 per ounce (Or $500 for AU). While, it would be best to find that bottom and then buy, but especially for physical stackers, we cannot buy at a seconds notice and tend to have a slow and steady strategy in our buying.
Paper traders have the advantage of quick in/quick out. At least what I have I can touch, hold, and admire. I also know it is mine and not just an entry on some ledger somewhere, hopefully backed by something physical....
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| | Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum |
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| Jm Bullion
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LeoS
Valued Member
United States
168 Posts |
Posted 03/07/2015 10:51 pm
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You also need to consider the human cost of packing an order. If it's just a $30 sale, I'msure it takes at least 5 minutes to pack it, label it, and send it. If someone is making $20 per hour (which is what a $14 employee costs), that's almost $2 in labor. Add packing materials, utilities, etc, and the cost is probably $4, add another buck or two for their cost to ship, and you are at $5-6 dollars.
Now take a $100 order, it may take another minute or two to pack, an extra dollar on shipping, but other variables are the same. $6 to handle, pack and ship that order provides some profit(ability) for the merchant.
I've used JM and like to know they ship pretty quick and I get what I ordered. |
| | Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum |
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| Hours And Hours Spent.
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LeoS
Valued Member
United States
168 Posts |
Posted 03/07/2015 2:19 pm
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First rule, stop when it's not fun. If you enjoy doing it and don't waste your dump money (have a good dump strategy) the cost is only time. Yes, we could all work more hours, but when I CRH I am in "the zone" where I feel that time stands still, and all is well in the world. Now, if I was doing it for 30 hours per week, I might be a little more concerned.
Regarding the smoking, I agree totally. I was a 2 pack a day until 10 years ago (i was in my late 30s) and I read an article that showed with my 25 years of smoking, if I stopped by 40, by the time I'm50, i'll be almost as clean as if I never smoked. If I continued until my 50s, it was almost certainly irreversible. Lastly, someone said "It's not about cutting 10 or 20 years off of your life, it's the quality of life that degrades and rots your last couple decades that stinks", that was also a major wake up. I am thrilled I stopped, and couldnt imagine dropping $5 a pack on that crap today. |
| | Forum: Coin Roll Hunting |
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| 2015 Dump Strategies
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LeoS
Valued Member
United States
168 Posts |
Posted 03/07/2015 2:06 pm
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My local Coinstar does Amazon and that's my most often strategy. They also do Lowes and Home Depot, so if I need a new saw/tool/supplies, i'll dump that much and get a no fee credit for them. I miss when they used to do a $50 for $40 promo, where if you dumped $40 you'd get $50 in iTunes ( and I think they did Chili's restaurant once also).
However, I found that since I can get no fee credit at Amazon, i'd buy crap on Amazon that I didn't need, thus wasting money.
Lately, I've been slowing down and CRH, so I just dump into a 5 gallon bucket for a rainy day fund. |
| | Forum: Coin Roll Hunting |
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| Kenedy Half Rolls At My Local Regions Bank
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LeoS
Valued Member
United States
168 Posts |
Posted 02/24/2015 10:06 pm
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I could've never left without them. Even if I had a few dollars in my pocket, I would've bought, went outside, searched and if anything good was in there, walked back in and said, "You know what, i'll take all you got".
Heck, I once went to a regular pick up bank, the teller said she had 10 rolls. I bought them and drove to the grocery a couple miles away. I sat in the parking lot and opened them. THere was ten 40%ers and a couple 90%ers. The bank was scheduled to close in 5 minutes. I FLEW back to the branch and charged inside. I am sure I looked a little scary. I had this vision of having the tellers find cases and cases of this "dump".
Sadly to say, the teller looked at me like I was insane and said that she gave me all that was in the bank. I literally spoke loudly to the other tellers and asked them to double check.... no luck.
So, never, ever think that just because a bank has some rolls that it must be someone's dump. There's no risk, only potential upside.
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| | Forum: Coin Roll Hunting |
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