| Author |
 Replies: 28 / Views: 3,950 |
|
New Member
United States
3 Posts |
How hard is it to flip (short term) collectible coins for short profit that are also slabbed and mint or gem?
Moderator note: Please do not place your email in your posts.
|
|
|
|
Pillar of the Community
United States
1391 Posts |
Very difficult, some people try to make a living doing this and fail.
|
|
Valued Member
United States
161 Posts |
I believe you are referring to people known as "coin shop owners". They buy and sell coins for a profit. It is very difficult because slabbed coins don't spike and drop in price in short enough time to flip. Most people that collect coins keep them their whole life and pass them down. Coin shop owners have much more overhead so they don't only rely on flipping slabbed coins to make the rent. Either way, good luck..and when you make your first million, don't forget about us little people on the CCF.  |
|
Pillar of the Community
United States
615 Posts |
Slabbed coins are trickier. I've only bought and sold a few, and the profit margins were very slim. I'd imagine to have any real success with only slabs would be to have a very fast turnaround, and even then, there's not much to be made.
|
|
Moderator
 United States
23522 Posts |
It's an easy way to make a small fortune. Just start with a large fortune and go from there.
|
|
Pillar of the Community
United States
919 Posts |
If you travel the auctions, find strong strike coins, buy them for a steal, in time you can sell them for a profit. I have heard of dealers paying other dealers not to bid on coins to keep the prices low. They take care of each other and work the system. They only pay if they get the coin. Less people showing an interest can lower the final bid. That is why you see some slabbed coins selling for well under guide prices.
As far as flipping them, that takes luck. One thing I have noticed in my month here on CCF. Some people seem to be very lucky. They claim to buy at the low and sell out at the high on a regular basis. If you are like them, you can make money. I usually pick the wrong time to buy, but I'm here for the enjoyment.
|
|
Pillar of the Community
United States
3453 Posts |
Edited by CoinsKelly
12/18/2012 3:30 pm
|
|
Pillar of the Community
Canada
4944 Posts |
Quote:
Slabbed coins are trickier. I've only bought and sold a few, and the profit margins were very slim.  You have to get very lucky to get them under market price, as well. (When buying on ebay) |
|
Pillar of the Community
1283 Posts |
I'm with you Kelly. If I just knew I could break even on a coin shop it would be a no brainer as I have other business that I generate income from. It's just such a competitive business around here, I don't think it would be worth the trouble. That is unfortunately my dream job though as lame as it sounds. I would probably deal in high end jewelry and watches to, seems like there maybe some money to be made there.
|
|
Pillar of the Community
United States
615 Posts |
Quote:You have to get very lucky to get them under market price, as well. (When buying on ebay) Even then, usually the coins that are selling under the "market value" don't sell for the market value. You might make, but not likely in the short term. |
|
Moderator
United States
23522 Posts |
This may seem intuitively obvious, but if it were that easy we'd all be doing it.
|
|
Bedrock of the Community
United States
12437 Posts |
Sure, it can be done and I have done it numerous times with coins in the $25-300 range. The biggest problem is finding a source of slabbed coins that can be purchased at a low enough price to allow for a profit- that is the hard part.
|
|
Bedrock of the Community
13014 Posts |
Quote:
This may seem intuitively obvious, but if it were that easy we'd all be doing it. Exactly. Basically you either have to get lucky with finding a great deal, have the markets pick up and the value rise, or be real good at picking out under priced raw coins to send in |
|
Pillar of the Community
United States
3345 Posts |
A slab sold for $25 hardly pays for the slab cost, (depending on stuff on course) so you can see where it can take you.
|
|
Bedrock of the Community
Australia
21786 Posts |
If you are not a trader, don't bother, unless you need the money for some other numismatic item.
As a collector I have been motivated very rarely to flip coins for a profit.
|
|
Pillar of the Community
United States
8904 Posts |
I learned a long time ago, this is a hobby for me and not an investment. Flipping coins or slabs is tough to do well. That doesn't mean I want to over-spend on a coin and I definitely want a quality coin at a bargain price, and, as a reasonably educated numismatist, I am willing to wait, shop around, and pounce when the time/quality is right! Or, then again, sometimes, I see what I want and spend too much, but... then rejoice every time I gaze upon the "chosen one"!!    It makes it all worthwhile!!  Edited by Moe145
12/18/2012 9:53 pm
|
| |
Replies: 28 / Views: 3,950 |
Posted 12/18/2012 12:57 pm
