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 Replies: 8 / Views: 1,373 |
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Pillar of the Community
United States
2600 Posts |
I see sellers on ebay with a string of listings, selling the exact same proof coin over and over i.e., 2005 S Lincoln Cent. How do they get so many? I just visited the Mint site and can only find sets. Are they really buying this many sets and breaking them up? I would love to be able to by a tube of proof Lincoln cents each year, but I suspect that there is no way to do this. Jim  Do yo get the idea that I have never bought from the Mint before?  Edited by Jim1953
06/05/2007 4:33 pm
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Forum Dad
 United States
24150 Posts |
I'll hazard a guess that they break open sets, send in the one's they think will get 70's and sell the rest raw. Just a guess though.
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Pillar of the Community
United States
1952 Posts |
yes they do buy them by the hundreds sometimes. you wont believe how many some of them buy they break them out and roll what they are not looking for. what they are doing is looking for that one perfect coin and they sale the leftovers. it is a good business if you can find that one coin but it takes very deep pockets sometimes. so they make their money back on the rolls that they roll up. I don't know if they will get rich on it but if I had the money to try it I would do it too.
Gary too
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Valued Member
United States
455 Posts |
quote Jim1953: "..I would love to be able to by a tube of proof Lincoln cents each year, but I suspect that there is no way to do this..."
Jim, that's an interesting idea. What would you do with them?
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Pillar of the Community
 United States
2600 Posts |
Tuck them away. I really like Lincoln cents and I think that as investment opportunities go Lincolns are undervalued. Plus, it is just a matter of time before the cent goes away.
Jim
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Rest in Peace
United States
3730 Posts |
Along these same lines, it amazes me how coin companies come up with numerous "Gem Brilliant Uncirculated" coins dating back many decades.
I get several mail order catalogs every month, Coast To Coast Coins as an example, and they are always loaded with offers to sell Morgans, Buffalos, WL Halfs, etc. in BU condition.
I called one such company once and asked how many BU coins of a certain year they had for sale. The lady asked me "How many do you want?"
I guess what I'm wondering is where in the world do these companies find all these coins in BU condition?
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Pillar of the Community
United States
834 Posts |
Gary. I also get those same catalogs each month, and I would have to say that maybe just maybe they are DIP DIP DIP coins.  |
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Pillar of the Community
Canada
1106 Posts |
quote:
I guess what I'm wondering is where in the world do these companies find all these coins in BU condition?
As a non US citizen, I have noticed a common thread amongst US collectors when It comes to new coins. There are many hoarders among you who stash away quantities of BU product, and If this has been going on for generations, then it would explain why there is so much older BU coins out there today. |
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Valued Member
United States
455 Posts |
I've bought Morgans from Coast to Coast. They're sharp looking but I don't know if they're really "Gem BU" as their add claims. It wouldn't surprise me if they've been dipped. How can I tell?
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Replies: 8 / Views: 1,373 |
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Posted 06/05/2007 4:37 pm
