| Author |
Replies: 19 / Views: 2,322 |
|
New Member
United States
11 Posts |
I'm a former collector who still enjoys coin looking for something I could make a high profit on. Any ideas?
|
|
|
|
Pillar of the Community
Australia
3831 Posts |
Join in the crowd of people buying newly released mint products that are high in demand and sell it on ebay. Thing is, it's another question if you can get on the mint list. Otherwise you gotta look through a batch of coins and find key dates, etc. Welcome to coincommunity by the way.
|
|
Moderator
 United States
6563 Posts |
"Former" not sure I have ever heard that word used on this Forum  There's no real get rich quick aspect of collecting/selling. Sometimes ya hit it lucky with a good investment that turns 10 fold. Other times you find a gold coin in a bag of wheaties. Buy in bulk...sell individually. That's the best way really they seems to work for me as well as others. If you are wanting to turn a profit real quick buy a bunch of silver and hope the market goes up. Or just buy some coins that have steadily risen in value over the last 50 years and save them for 50 more. Good Luck
|
|
New Member
 United States
11 Posts |
I'd more call myself a dormant collector. I'm sure I'll collect again, I just don't really have a collection right now as I have other priorities.
|
|
Bedrock of the Community
United States
14454 Posts |
coins aren't the get rich quick vehicle allot of people think it is, most people that are really seeing a huge profit on their return have been collecting many many years and pulled most of their collection out of circulation or inherited some of the coins from their grandfather many years ago. If I was wanting to make a quick buck there are allot of things I would invest in besides coins because from my experience it takes years to really see a sizable profit even on the key date coins
|
|
Pillar of the Community
United Kingdom
2217 Posts |
Aren't you supposed to charge for that kind of information ;) hehehe....
|
|
Valued Member
United States
83 Posts |
your best bet would be to search out VAMS most dealers can not know every one, nor do many of them even look.... find a VAM and the price has 2x - 20 x what you pay for it...
|
|
Bedrock of the Community
United States
14454 Posts |
quote: ind a VAM and the price has 2x - 20 x what you pay for it...
Not every VAM makes the coin worth more money, it is actually only a handful that actually has a large return like mentioned above. Every Morgan and Peace dollar is a VAM, it is just a specific die marriage, it is the ones that "everyone" is looking for that has the large return for your money and it can take years to actually familiarize yourself of even one specific date of VAM's and I know no one that knows all the "good " VAM's just by looking at the coins without some sort of reference to check to attribute such special VAM's
|
|
Pillar of the Community
United States
1984 Posts |
You can make a high profit on items you purchase at a low price relative to their value and sell for a lot more. There is no formula. Some people will tell you 'buy key dates' some will say 'look for varieties.'
I will say 'arm yourself with knowledge.'
|
|
Pillar of the Community
United States
2797 Posts |
 HABIB says "Buy Low and Sell High" You can't go wrong with that formula! On a more depressing note ... many sellers on ebay are doing it by misrepresenting their product ... usually via over-grading. And the uninformed/inexperienced are being taken. They won't know until they go to sell and are told their SGS-graded MS-66 Morgan is actually AU and oh, by the way it's been cleaned. Spend some time here and see this first-hand. The CCF members are good at "Outing" these Con Artists! 
|
|
Bedrock of the Community
United States
20753 Posts |
Best way to make money with coins. Now why didn't anyone else ever think of that? More than likely this is a new concept. However, there are many methods. For one thing you need a lot of US coins acquired cheaply. This can be accomplished by the most common method of becoming an armored car holdup person. Might be easier to just rob a bank or two. Remember to just say you want coins or they may had you those lousy paper types of currency. Now once you have all those coins, pay some kids to go through them for valuable ones and return the excess to your account in a bank you haven't robbed. Next sell the good ones on ebay using a story of must sell fast before the coming arrest by the police.  On a serious note. Go to banks, buy as many coins as you can and if possible uncirculated ones. Next purchase piles of 2x2's. Next put the best coins in the 2x2's, take to a coin show, rent a table and sell with grades written on them of MS-XX. If any slight errors are found, note the type of error and also place in 2x2's and sell for minimum of $1 to $10 each. Another method would be to not collect cain at all but read many books on coins, write one yourself, find a publisher, have them printed and go on TV with one of those sleezy type programs on how to get rich fast.
|
|
Pillar of the Community
United Kingdom
2217 Posts |
Umm what's a VAM? 
|
|
Pillar of the Community
United States
2797 Posts |
A VAM is a die variety for Morgan and Peace silver dollars. VAM is short for Van Allen - Mallis, two pioneers in the field who published the first study about 40 years ago. It's a very interesting obsession for a niche of Morgan and Peace collectors. Be cautioned, once you're hooked, you're in it for the long haul.  Start Here: http://www.vamworld.com/ VAM
|
|
Valued Member
United States
470 Posts |
Go to Amazon and buy the book, "How to profit in the new rare coin market." The premise is this: Search for slabbed under graded coins ....crack out and resubmit for an upgrade and reap the rewards. That's how I started, now I flip but I'm always searching dealers tables for a 64 that will go 65 for a couple hundred dollars profit. It takes a lot of work and you have to learn a few series of coins but the chase is worth it and the profits are unlimited.
Edited by Andrew289 10/09/2007 12:33 pm
|
|
Valued Member
United States
193 Posts |
I have discovered a "sure fire" way to make a Mint of money on coins. 1. Buy a bunch of president dollars at your local bank. 2. buy time on a local T.V. station 3. Show your infomercial Touting the Ultra Rare dollars that "by Law" are limited production and Once they have stopped production they will "Never" be minted again. $39.00 each. $299.00 for the complete set Remember these are "limited production" 4. Optional.. Buy Cool plastic slab's from ebay Print Fancy grading labels MS-70 "Highly polished" 5. take profits to bank and buy more dollars and repeat (thanks and credit to the "Coin Vault" for the Idea and business model) 
|
|
Pillar of the Community
United Kingdom
2217 Posts |
Thanks Seated Nut - you live and learn...
|
| |
Replies: 19 / Views: 2,322 |