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 Replies: 19 / Views: 2,326 |
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Pillar of the Community
United Kingdom
2217 Posts |
Aren't you supposed to charge for that kind of information ;) hehehe....
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Valued Member
United States
83 Posts |
your best bet would be to search out VAMS most dealers can not know every one, nor do many of them even look.... find a VAM and the price has 2x - 20 x what you pay for it... |
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Bedrock of the Community
United States
14454 Posts |
quote:
ind a VAM and the price has 2x - 20 x what you pay for it...
Not every VAM makes the coin worth more money, it is actually only a handful that actually has a large return like mentioned above. Every Morgan and Peace dollar is a VAM, it is just a specific die marriage, it is the ones that "everyone" is looking for that has the large return for your money and it can take years to actually familiarize yourself of even one specific date of VAM's and I know no one that knows all the "good " VAM's just by looking at the coins without some sort of reference to check to attribute such special VAM's |
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Pillar of the Community
United States
1984 Posts |
You can make a high profit on items you purchase at a low price relative to their value and sell for a lot more. There is no formula. Some people will tell you 'buy key dates' some will say 'look for varieties.'
I will say 'arm yourself with knowledge.'
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Pillar of the Community
United States
2797 Posts |
 HABIB says "Buy Low and Sell High" You can't go wrong with that formula! On a more depressing note ... many sellers on ebay are doing it by misrepresenting their product ... usually via over-grading. And the uninformed/inexperienced are being taken. They won't know until they go to sell and are told their SGS-graded MS-66 Morgan is actually AU and oh, by the way it's been cleaned. Spend some time here and see this first-hand. The CCF members are good at "Outing" these Con Artists!  |
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Bedrock of the Community
United States
20753 Posts |
Best way to make money with coins. Now why didn't anyone else ever think of that? More than likely this is a new concept. However, there are many methods. For one thing you need a lot of US coins acquired cheaply. This can be accomplished by the most common method of becoming an armored car holdup person. Might be easier to just rob a bank or two. Remember to just say you want coins or they may had you those lousy paper types of currency. Now once you have all those coins, pay some kids to go through them for valuable ones and return the excess to your account in a bank you haven't robbed. Next sell the good ones on ebay using a story of must sell fast before the coming arrest by the police. On a serious note. Go to banks, buy as many coins as you can and if possible uncirculated ones. Next purchase piles of 2x2's. Next put the best coins in the 2x2's, take to a coin show, rent a table and sell with grades written on them of MS-XX. If any slight errors are found, note the type of error and also place in 2x2's and sell for minimum of $1 to $10 each. Another method would be to not collect cain at all but read many books on coins, write one yourself, find a publisher, have them printed and go on TV with one of those sleezy type programs on how to get rich fast. |
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Pillar of the Community
United Kingdom
2217 Posts |
Umm what's a VAM?  |
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Pillar of the Community
United States
2797 Posts |
A VAM is a die variety for Morgan and Peace silver dollars. VAM is short for Van Allen - Mallis, two pioneers in the field who published the first study about 40 years ago. It's a very interesting obsession for a niche of Morgan and Peace collectors. Be cautioned, once you're hooked, you're in it for the long haul. Start Here: http://www.vamworld.com/ VAM |
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Valued Member
United States
470 Posts |
Go to Amazon and buy the book, "How to profit in the new rare coin market." The premise is this: Search for slabbed under graded coins ....crack out and resubmit for an upgrade and reap the rewards. That's how I started, now I flip but I'm always searching dealers tables for a 64 that will go 65 for a couple hundred dollars profit. It takes a lot of work and you have to learn a few series of coins but the chase is worth it and the profits are unlimited. Edited by Andrew289
10/09/2007 12:33 pm
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Valued Member
United States
193 Posts |
I have discovered a "sure fire" way to make a Mint of money on coins. 1. Buy a bunch of president dollars at your local bank. 2. buy time on a local T.V. station 3. Show your infomercial Touting the Ultra Rare dollars that "by Law" are limited production and Once they have stopped production they will "Never" be minted again. $39.00 each. $299.00 for the complete set Remember these are "limited production" 4. Optional.. Buy Cool plastic slab's from ebay Print Fancy grading labels MS-70 "Highly polished" 5. take profits to bank and buy more dollars and repeat (thanks and credit to the "Coin Vault" for the Idea and business model)  |
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Pillar of the Community
United Kingdom
2217 Posts |
Thanks Seated Nut - you live and learn...
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Bedrock of the Community
United States
17884 Posts |
7070 beat me to it. That is the simplest way to make high profits, although after you pay all the expenses for the TV time, you may find your profits aren't all that high. People like to gripe about how the TV people are ipping people off with the high prices they charge but they don't stop to consider the very high overhead costs.
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Valued Member
United States
101 Posts |
I know its not a rocket scientist approach but what I do to make 500-850 a month profit on ebay is to buy low and sell high. Best way to do it is to find coins that are cheap in lots or coins that are nice but the pic is horrible then take very high res blown up pics and put them in the auction and you can get way more then spent. Case for example I bought a 1927 Gem BU buffalo for 17 bucks with a horrible pic and I sold it last week for 103.63 so like 6ish fold profit just by using a good pic in place of a bad one. |
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Pillar of the Community
United States
1952 Posts |
the best way I have found to make money on your coins is to not get into them in the first place. lol I know a lot of guys that have been into selling and buying for years but I don't know one rich coin dealer. most of them are retired and live off their retirement and do the coins for fun
Gary
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Pillar of the Community
United States
1247 Posts |
Buying low and selling high is just trying to be contrarian. But if "buy low and sell high" is a crowd mantra--(*and it is*) how can it be contrarian? Most "contrarians" lose because they don't really buy low and sell high; they buy low and sell lower.
If you really want to be a contrarian investor don't invest at all. Simply collect what you *really* like and you'll be living the world of other coin collectors who at the end of the day are the real buyers. And who one day *with luck* might want to buy what you have.
Speculators aren't real! There are 30,000 stunned mullets in Miami holding condos with no one left to flip to and no end buyers in sight. This is the other half of "investing"---the hard part. There has to be a buyer to sell to or your dead. We don't get bailouts from the gobblement.
In coins, speculators tend to buy the easy way; the way that doesn't take up a lot of a "mover and shakers" time. This is why the slab was invented--throw some money on the desk and walk out with a brief case full of slabs. Hold them for a month or two and when all the collectors start banging on your door, walla! your a millionaire. Their "investment advisor" should toss a hookah pipe in that briefcase before they leave. Or a genie in a bottle.
It's a hobby for collectors and we don't consider that our time is "being consumed" or "wasted" with the details. We don't have "time horizions" but we do have dozens of collecting options. In topical collecting we probably have thousands of options. It's hopeless for a speculator or even a collector to think that he is going to foresee where any of it's going in the long term. But at least the collector might collect today what will be popular tomorrow. If a collector makes money, it's a gift. Collecting coins gives us pleasure. They don't owe anything else--they never did.
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Posted 10/09/2007 07:41 am
