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 Replies: 91 / Views: 22,183 |
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Pillar of the Community
United States
1348 Posts |
I started out buyinf and selling only. Then got bitten by the bug so to say. I usually make about 15% profit when I do sell. My general idea is to be able to buy a collection, keep the ones I like the best, sell the rest for what I paid for everything. That is how I fund my collection.
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Valued Member
United States
470 Posts |
I flip on big releases but not on a daily basis. I flipped the 2006 eagle sets, the 2011 eagle set, the first 3 issues of the First Spouse coins and a couple high relief gold eagles.
These usually yield the highest profit margins due the frenzy that is in the air and folks tend to have more money than sense when the fever is running rampant.
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Rest in Peace
United States
9104 Posts |
 , streg2! Quote:
Is it common for dealers to sell each other "inventory"? The dealer I talk to says he buys and sells with another local dealer pretty often but that seems odd to me. Like collectors, dealers often have specialties, and would rather trade into familiar territory. Since dealers often buy it all, trading into a balanced stock is also useful. |
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Rest in Peace
United States
9104 Posts |
Quote:
Why not lower the price maybe 20% and move it vs lowering it 30%-40% to another dealer. Because while a collector will waste your time deciding to buy (hmmmm, he lowered the price, must be something wrong with it), another dealer will be writing a check for thousands of dollars. |
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Valued Member
United States
192 Posts |
I try to get my honey to "flip" coins... only twice to check for odd ones. I flip all my change over twice before spending!
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Rest in Peace
United States
9104 Posts |
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Moderator
 United States
16677 Posts |
I also tend to bid on coins on ebay where quite frankly, the person is no where near the correct grade, always below, and those are the ones I jump on, even if the picture is not that great, I have turned profits on all regrading, selling. I just picked up a 09-S Lincoln on ebay seller was calling a Fine, and BIN as such. Turns out, in hand, it's upper VF. swcoin.ecrater.com
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Pillar of the Community
United States
593 Posts |
I really don't have the time to get into reselling coins, but I have purchased a lot with more than I need with the expectation that I would sell the stuff I didn't need.
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Pillar of the Community
 Canada
4944 Posts |
I would love to see this thread moving again, I find it very interesting. So, I have another question. If you are buying coins, to turn around and resell. Where are you reselling them? If you buy on ebay, do you have multiple accounts? One for buying, and one for selling? Or are you selling in a different place completely? |
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Pillar of the Community
Canada
1005 Posts |
I get coins from the bank and sell copper and nickel for 1.5x face to a dealer. Some rarer coins go on ebay. Collections of mint sets I buy and sell the extra sets or coins I don't need or want. If I get a nicer coin for myself I sell the other If I didn't sell some coins I would have way too many. I sell to keep the size and cost of my collection manageable. |
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Pillar of the Community
Australia
7096 Posts |
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Wrong "flip", Wilson What can I say,got a bit choked up when I read this old thread. Hay. this was Big Fred as normal. I miss the old bugger   |
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Pillar of the Community
Philippines
1156 Posts |
In the three years of collecting,I havent sold any yet, now am looking to sell at our local club's auctions
10 to 15% over bulion for an xf crown is what usually gets my interest
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Valued Member
United States
200 Posts |
I generally buy for my own collection. But sometimes I get duplicates (multiple successful bids on ebay) and I try to sell the duplicates. But I have rarely made money this way, I am lucky to get back what I spent. But I do acknowledge that I started collecting coins very recently, so I do not know much about numismatic coins, am buying as close to spot as possible. |
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Moderator
United States
23522 Posts |
Quote: If you buy on ebay, do you have multiple accounts? One for buying, and one for selling? Or are you selling in a different place completely? I do the majority of my buying and selling on ebay and yes, I use two accounts. |
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Bedrock of the Community
13014 Posts |
Quote:If you are buying coins, to turn around and resell. Where are you reselling them? If you buy on ebay, do you have multiple accounts? One for buying, and one for selling? Or are you selling in a different place completely? I do a lot of buying and selling on ebay and have sold thing I have bought on there, but usually after a few months if not longer because I upgraded or whatever reason decided to end that set. If I were to start doing that regularly I would open a buying account. Most of my flips have been from a special somewhere else where I know its going higher on ebay or from the mint for a limited run like the 2012 sf eagle set |
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Replies: 91 / Views: 22,183 |
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Posted 05/08/2012 09:25 am
