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Replies: 60 / Views: 6,025 |
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Pillar of the Community
United States
1302 Posts |
there was only one strike of American Eagle 25th Anniversery Sets. They made one run of 100,000. I don't think in this particular instance 1st strike is anything but a richness scheme for the grading company.
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Pillar of the Community
United States
716 Posts |
I totally agree with 'unholy roller'. Buying coins as investment and then paying for them by increasing your credit card debt just doesn't make any financial sense. This implies that you couldn't afford the coins in the first place. I don't know what interest rate you are paying or your total c.c. debt, but paying that off should be a top priority before buying any more coins.
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Pillar of the Community
United States
4901 Posts |
I kinda agree with the CC comment but if you do the math it might look a bit different. If you bought 2 sets from the Mint on a CC at 18% interest and hold them you would be paying around 1.5%/ month interest ($9). If you sold them in a year the total interest would only be $108.
Don't you think that the sets will fetch $360 each in a year? Sell them earlier and the interest is obviously less...also the minimum monthly payments will decrease the principal a tad also.
Now if you go with PCGS and the higher grading fees and lower grades then you definitely are complicating the issue. But raw sets from the Mint on a CC is not an issue...
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Valued Member
United States
404 Posts |
Learn a lesson and move on. Not every investment is going to be a home run.
What I've learned from this whole 25th set fiasco is...when trying to flip, speed is the key, especially if you're putting it on a CC. Get the product and get rid of it as quickly as you can.
Also, a few people are saying the dealer lowballed you, I disagree. If I'm the dealer, I don't care how much you paid for the item, I only care how much profit I can make.
Good luck, just remember, breaking even isn't always a bad thing.
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Previously Banned Member
107 Posts |
If I were you, I would take the $500 while you can. Some are winners and others are loses. I think you will have to cut your loses and move them quickly.
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Valued Member
United States
421 Posts |
I do know that there was a line of people in here looking to purchase this set. Like someone has already said you could list them in here. Good luck with selling them. I also agree it seems to have leveled out for the time being.
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Pillar of the Community
United States
1770 Posts |
i still feel OGP sets or sealed boxes never opened will rise in price over the years. and since most of us on this forum are true coin collectors we have those yrs to wait with no problem
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Valued Member
United States
109 Posts |
I went to my coin dealer today. Told him I have an in opened set, origional shipping packaging from the mint. He said $600. I am selling it to him tomorrow.
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Rest in Peace
United States
9104 Posts |
Quote: Used to be if a coin was VF it sold for VF prices regardless of any plastic housing. Now I hear all the time 'But this one is in a PCGS holder' and the price is hugely inflated just for that reason. If you check the price for slobbed coins (I think it's the bluesheet), you'll find they are lower than greysheet, because slobbed coins are overgraded on average. Quote: Then add the CAC sticker and you go up even more... I had a very heated discussion with one dealer at the last show I went to about this. All the bean does (should be easy to counterfeit) is confirm that the coin actually is the grade on the plastic, bringing it up to greysheet value. IOW, it does what the TPG should have done in the first place.
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Bedrock of the Community
United States
10047 Posts |
Biggfredd, I think you need to start a service - and only charge 10.00 each coin - to make sure the bean is legitimate. Maybe put a silver star on the bean? 
How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2
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Rest in Peace
United States
9104 Posts |
Maybe a little "poot" in a caption?
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Bedrock of the Community
United States
19973 Posts |
Without reading through this thread, I think the offer was pretty generous. Most businesses like a coin shop try to buy for half of what they thick they can get for it. They might wiggle up a little with some haggling, but not much. My dealer is very tough on modern stuff like this because it's easy to lose money. If he pays $500 and it sits in his store for months, he might see the inflated prices dive and he would be left holding the bag and forced to sell at a loss. Most of the modern stuff in his shop sells WELL BELOW the issue price, sometimes at half price. Your best bet is to put it on ebay at the going rate before the prices errode anymore.....or you might be left holding the bag.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
1903 Posts |
I owned a retail store for many years in an industry just like coins where "haggling" is the norm and "second hand" product is part of doing business. The gripe I always had with customers was two fold. One.....they think you are making a small retirement on each sale.....and Two...... they think we should operate as a nonprofit entity. Neither are realistic and most people if they knew just how little we make and how hard we have to work to make it, would think we were crazy for owning our business. Remember this the next time you go into a mom & pop store. Cut them some slack...if they can't make enough to live, they will close the store and just leave their money in the bank. Since I sold my store I do as much business as I can with mom & pop places and never haggle anymore....if they want to cut me a break...that is their choice, but I have too much respect for how hard our small business owners work and can't deny them a lively hood from fair profits. Look at it this way....let's say you sold a coin shop some collectable coin and a week later the price dropped by half. You would feel pretty good about your sale in that you got premium value for it before it crashed. Why should we deny the store owner that same satisfaction if that same coin doubled in value instead? We need to realize we as collectors and our dealers are playing the same game. Buy low....sell high. Dealers are just better at it because they do it every day. Don't think less of them for it, just learn from their expertise.
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Moderator
 United States
189969 Posts |
Quote:Your best bet is to put it on ebay at the going rate before the prices errode anymore.....or you might be left holding the bag. I agree. A dealer will always make an offer that is well below the going market value. The dealer, after all, needs to make a living.
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Pillar of the Community
 United States
6326 Posts |
But I reiterate, I have no "selling history" on ebay....and have never been a member. The coin shop was/is just the fastest sale, I'm supposing, not necessarily the "best" sale, but quicker. I wish I knew somebody offering to buy a PCGS slabbed Set for $750.00.......and they take care of shipping, packaging, insurance, etc., etc......I'd send it right out ! .......but this ain't gonna happen.....  I'll just have to sever my losses soon......... 
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Replies: 60 / Views: 6,025 |