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 Replies: 10 / Views: 1,363 |
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Valued Member
469 Posts |
I am a brand new coin collector/seller. Recently, since I really have no collection, I have been buying and selling coins on ebay to provide funds to begin a nice collection. What I'm looking for is how to buy coins in bulk or at a good enough price to resell. (Don't worry, I'm not in it for the money, I just need the money first for the coins.) I have bought a couple nice coins for significantly lower than retail value, but buying and selling one coin at a time in time consuming and difficult. Hopefully some one can help me out. |
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Pillar of the Community
United States
1215 Posts |
CRH; otherwise, work for a longer time and use the extra money on coins.
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Pillar of the Community
United States
1215 Posts |
I don't see numismatics as a way to make lots of money, unless you work full time at it as a dealer.
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Pillar of the Community
United States
1005 Posts |
I'm going to have to agree; there certainly is a fair amount of luck involved in finding bulk lots that are actually a good deal, either that or a lot of searching on ebay, Craigslist, or other venues. Typically people do not make steady profits without dedicating a ton of time, i.e. going into business as a dealer, at which point in time the coins typically come to you due to commercial visibility. |
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Pillar of the Community
United States
3843 Posts |
I'd suggest trying to get a part time job with a coin shop first before going out on your own. See what they buy and more importantly what they pass on. You have to be able to correctly grade and check for problems coins from a wide array of series. Unless you have a tremendous eye for quality and under-graded pieces it is very hard for a seasoned pro let alone a beginner to make a decent profit. Getting the material for your ebay store at the cheap levels you need so that a profit can be made will be the greatest challenge. Try to establish relationships with your local coin dealers and ask what they wholesale out, perhaps they will give you first shot at it. Personally I've long considered getting into the business side of the hobby but I feel that would disrupt my enjoyment of collecting and that making a profit would be much harder than it appears. |
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Pillar of the Community
United States
1215 Posts |
In terms of reselling bulk lots, I would try buying large face value junk silver bags from APMEX or Pvdnt and selling them for some markup on ebay. Some "junk" quarters, for instance, sell for $6. This will take years and years for you to sell your bag entirely. However, you do get decent profit %age wise even after the ebay overhead. Very slow, and risky (silver can increase or decrease drastically), but if you are looking for a profit with bulk lots, this may help, especially if you sell many kinds of "junk" silver at a time or in larger lots. Be honest when selling on ebay. That will help you too. Then of course, you will have to pay for your constant trips to the blue mailbox. Edited by 0xDA71D
01/10/2015 8:50 pm
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Moderator
 United States
23522 Posts |
Keep in mind if what you wish were that easy, we'd all be doing it.
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Pillar of the Community
United States
1215 Posts |
Edited by 0xDA71D
01/10/2015 9:10 pm
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Pillar of the Community
United States
677 Posts |
Quote:
Keep in mind if what you wish were that easy, we'd all be doing it. This pretty much sums it all up |
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Pillar of the Community
United States
4333 Posts |
Personally, I would undergo the process of having all my teeth extracted manually with pliers before I'd sell on ebay, but would say it's your best route to buy in bulk...next would be Craigslist, in general... When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
Canada
495 Posts |
I would make a poor dealer if I opted to start a business of selling. I can see me with a room full of coins and the banker knocking on the door waiting to foreclose on me because I cant make a decision on whether to sell my inventory to pay the bills or feed my family  I have a 48 Can silver dollar that a local dealer would like to have but after a year I still haven't given him a reply as he waits patiently for me to make my mind up. |
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Replies: 10 / Views: 1,363 |
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Posted 01/10/2015 8:22 pm
