"Flipping" Coins - Do You Do It?

What a great thread this has turned out.

I sell because, quite frankly, I cannot afford to collect what I want to own. I can only afford the coins I want to keep if I supplement my income, and I do that by flipping smart purchases which offer profit. On an hourly basis, I make squat. It takes too long to learn how to choose the right targets, and (worse), to scour the Internet to find them.

I spend 30+ hours a week looking at potential purchases, and haven't cleared $5000 in my best year. And none of it is about profit, but only about collecting.

In 13 years of selling, I've had zero Negative feedbacks and zero returns. I think I'm doing it right.

Over the years I've had dozens of people with the "great idea" of opening a second location or adding a product line, and they could run it.

I counter offer that they could open the store, I'd sell them inventory and provide advice.

Oddly enuf, it never seems to be such a great idea anymore. Guess they figure a paycheck would be more money than if they kept all the profits.

I don't think that you would have to pay yourself at all, I think the profit and enjoyment that you get out of flipping coins would be enough. When you start to bring in paying yourself for each hour your looking at coins, then I bet doing this would get really boring really fast. The way I look at it is, I am already at home doing nothing, so technically any profit I would make is more money than I would have made sitting around at home, plus its another excuse to be around coins.



Yeah, a lot of dealers will sell some of their inventory to other dealers to free up some capital.

Depends on the coin or set. I flipped a couple 25th ann. silver eagle sets and 3x US Army commems. Made some decent money last year on those. I also cherrypick coins out of bank boxes and flip those to make a couple bucks.

Last year, because of illness, I unexpectedly lost my left arm. I went into panic mode because I was definitely not going to be able to perform the work I had done in the past and anyone that has ever dealt with filing for Social Security disability will tell you it is not a quick process.I used my knowledge of coins to get me through this tough time. I would pick up varieties and under priced coins at local shows and shops to sell on ebay. I am definitely not a professional coin dealer and I don't feel my actions were morally and ethically troublesome. I did what I had to for my family and myself. I have no problem with anyone flipping coins for profit even if they are not in as bad a shape as I was.

85% of my coin purchases, I flip. I usually turn a small profit on all. The other 15%, are coins I am adding to my personal collection.

My definition of flipping would be buying the coin in question with the intention of selling it rather shortly at a higher price. I do not do this except with Ike dollars. However, I have sold coins before where I did not get them intending to sell them, but did end up selling them in order to buy an upgrade for the coin sold. I view that a bit differently than true flipping.

Never sold a coin in my life. Only have one that would be worth selling, but I think I'm inclined to keep it because of its scarcity more than anything. So no, never tried, never will, probably never will sell anyway.