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Price Of Silver, Up Or Down?

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Pillar of the Community
UltraRant's Avatar
Norway
1358 Posts
 Posted 10/16/2017  1:54 pm  Show Profile   Bookmark this reply Add UltraRant to your friends list Get a Link to this Reply

Quote:
I was real impressed that I bought a 10-oz silver bar just weeks ago and the buyback price is only about $2 short already. Wish my rare coins could do that. With all the commission charges, it's hard to turn a profit on coins in anything less than 5 years.


For what I know, there are two ways to make a profit on coins.

The first may be obvious: just advertise that you buy coins and wait for some clueless heirs of a coin collection to show up on your doormat. Then tell them you pay 2 cent for every cent in the penny album, which includes the s-vdb and other key dates. Or maybe be nice and make it 3 cents or so. Then turn to the bay and... profit!

The second option is to buy the right coin at the wrong location. A lot of 'foreign' coins which get sold at auctions would raise much more when being sold 'at home'. I've traveled extensively and one of the things I found out is that the further a coin is from home, the less it raises. One sample is a 1877 50 Øre coin. I bought it for $4 in Prague and sold it again for $20 at home. Do this with high end coins, and... profit!
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