Best Type Of Coin And Grade To Get Slabbed And Sold.

That is a question that get's asked by a lot of new people to the hobby

I will try to be nice ...but honest.

I guess I should ask first how much experience do you have buying coin..grading coins .. And selling coins?

One of the hardest thing to do in this hobby is to buy coins that can be sold for profit. Unless you have your own coin shop.

If selling on ebay most cases the fee's eat up most any profit you might make.

The idea of buying from dealers, at a coin show or coin shop, and being able to resell at a profit would be a very hard thing to do. Ask yourself, if the coins you are hoping to buy we're worth more ... On ebay . Than why wouldn't the dealer sell there or for more.... Most cases the coins are a little higher priced at coin shows.

If you are a expert on Morgan dollars there is a chance you might be able to cherry pick some good coins.

The only way I have made substantial profit from coins is to hold onto them for at least 15 years.
I have successfully done this to pay a 15% deposit on our first house.
That collection went to a major public austion.

You can find coins dealers missed or undergraded but its not easy. You can also search uncirculated rolls for high end examples, but you need to know what youre looking for. Even if you know what youre doing youre going to miss on some, you just have to hit more than you miss money wise.

If you were going to do this, the best suggestion would be start studying up on ebay. Find rare things and what they sell for and see if you can find some examples of that at the show in a low enough price range to make some money. Common items are going to sit on ebay for a long time, the more rare sought after things have a better chance of moving quickly. They dont have to be thousand dollar coins but you dont want something that already has a 100 listings for it already were your item is just one more in a sea of them.

Im not sure if youve sent coins in before or not, but if you havent I would suggest picking coins youd be happy to keep if they dont do as well as you thought.

with everyone above.
The way that may be most profitable would be not to go to coin shows, but antique stores, pawn shops, stores that do coins "on the side." This will most likely give you the best chance at profit, there may be none and you will have to know many of the key dates, varieties, and other coins that are undervalued by the shop. I have had the most luck going to antique stores and pawn shops. Over the past 2 years I think I have increased my collection by a hefty amount using this method.

Keep in mind those bags of BU Morgans are coins somebody else, probably a lot of somebody elses, didn't see fit to be graded and slabbed. If there was a way to make a profit off them you can bet there's 10K people that would already be doing it.

Unless you can get in on some huge estate sales or find someone locally that's selling their entire collection it's going to be tough turning a profit starting out with no inventory. I'm sure most of the people on this forum have contemplated at least once how to turn their hobby into a business.

But I don't want to be a downer, if you have the focus, passion and drive you can accomplish anything. Go out there and make us naysayers eat crow!! I like mine with ketchup.

Rick

Not sure where I heard it ...

Know how you make a small fortune buying and selling coins...
Start with a large fortune


Do think the best way, as mentioned, is to learn the coins your interested in. The buy the right coins , mostly problem free key and semi key dates,
And hold the for 10, 20 or 30 years. Then find the best outlet.

For me my plan is, I have been putting coins away for 40 years.
Some time in the next few years I think I will start selling the bulk
of my coins just to see how much money I have put away.

I feel some of the coins I will pass down .... But most I have bought for part of my retirement. Many of my coins are worth multiples of what I paid for them, because I have had them for many years.

I totally agree with all the sage advice the CCF experts have given. Studies have shown that it takes about 10,000 hours of study to "master" a skill, whether it's chess or hockey or coin grading. I know I'm very far from that, so I don't even pretend that I can beat the pros at their game. Thus, coin collecting is a hobby for me - and I don't expect to make money from my hobbies.

That said, returning to the OP's post, is there a place where buying raw coins and investing in slabbing them might be worthwhile? I would look for situations where there is more demand for slabbed coins than supply. Two areas spring to mind:

In early coppers, the community is widening from an "all-raw all the time" expert culture to a more inclusive "slab the best" culture, which pulls in type and investment collectors. The advantage here is that there are still good quality, unslabbed coins available. Identifying attractive candidates, getting them into problem-free slabs, and ESPECIALLY getting them CAC'ed takes a lot of expertise, but could pay off well.

Most dealers concentrate on rare coins - whether from population or condition. However, many collectors can't afford those rarities - or just like honest circulated coins. I believe there is a strong market for attractive, circulated coins, both in high-end (AU58, for the PCGS Everyman crowd) and mid-grade (XF45-ish are often attractive and affordable). The key word is *attractive*. There are tons of mid-grade circulated coins floating about. Finding the absolute prettiest, problem free, uncleaned and undipped - in other words, true premium quality - and getting them slabbed could be a strong business model.

Both of these options still require mastering grading and considerable hours at shows, on the internet, and at coin shops, finding the raw coins others have overlooked. Not a weekend's work. But I'd sure love to patronize a dealer with either of these business models!