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 Replies: 52 / Views: 15,626 |
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Valued Member
United States
124 Posts |
It seems that coin collecting is dying. proof sets are dead nobody wants them, not even for face value. It seems that your coins are only rare and valuable when its on dealers hand, when its in a collectors hand it isn't worth their time. so is coin collecting dumb? buy coins then if you want to sell it isn't worth much. I tought this was the case only with hsn coins. Ex gold plated quarters etc. but it seems is the case with any coins. dealers sell you a coin for $1000 because rare and when you turn around and try to sell it the dealer will tell you its not a rare coin its only worth bullion. what you just told me it was a rare coin a minute ago, try it youll see its true, So is coin collecting dumb are we getting ripoff with this hobby. Edited by alvaro77
05/06/2016 6:02 pm
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Moderator
 United States
187702 Posts |
Spend enough time reading posts here at CCF and you will see it is far from being either dead or dumb.
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Pillar of the Community
United States
3644 Posts |
Remember the key word 'hobby'
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Pillar of the Community
United States
724 Posts |
I learn the same lesson.
Never buy something cheap and common. You lose money when you sell. Have patience to find coins you really like and are proud to own. I will never buy any flashy modern craps any more.
It is a hobby anyway.
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Pillar of the Community
United States
1211 Posts |
What are you talking about? Coin "COLLECTING". If you are only concerned with resale value then you are doing it wrong.
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Valued Member
 United States
124 Posts |
im not consern about reselling only jerseyben. I just lost interest in some coins like the Presidential dollars I dont want anymore and trying to get rid off and finding out they worth less than face value. I'm a coin collector but all of the sudden lost interest in the modern proof sets I only collect vintage coins now like Morgan dollars etc. that could happen to you also losing interest in some of your coins and trying to sell and finding out its not worth their time, you will be disappointed also. I didnt bought for resell for profit I bought to keep but lost interest change mind etc. Edited by alvaro77
05/06/2016 7:05 pm
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Pillar of the Community
United States
724 Posts |
President dollar coins are ugly. I do not want to own any of them. So many people have the same taste, obviously.
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Pillar of the Community
United States
3644 Posts |
Can't be less than face  |
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Pillar of the Community
United States
703 Posts |
Both of my local LCS are hoping on the weekends!! And we have 4 quarterly coin shows that do very well. I'm only 37 and think the hobby is very much alive!
Edited by ElonU
05/06/2016 7:15 pm
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Valued Member
United States
124 Posts |
slamnbass mintproduts offers $3.50 for the Presidential dollar $4.00 face value set. And $1.00 for the State Quarters that are $1.25 face. all coin shops in my area also pay below face. isn't that illegal Edited by alvaro77
05/06/2016 7:19 pm
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Pillar of the Community
United States
3843 Posts |
Well you've learned that you need to research ( ebay completed auctions, heritage, stacks) the items you're interested in before you buy. Many collectors do this before buying to gauge the resale market in case they need to sell down the road. If the dealer wants too much don't buy it in the first place. There are big margins in the coin business, not unlike many industries. Modern coins that have been hyped up by big marketers aren't good investments. |
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Pillar of the Community
United States
2543 Posts |
I agree with ben, the key word is collection. Just because some people collect things are are not valuable doesn't mean they are not collectibles.
Just because what you chose to collect has no resale value, doesn't mean the hobby is dead or dumb. (I understand you were not calling us dumb; brain dead? Perhaps at times)
Think of it in terms of cars (another hobby of mine) If you buy a Ford Taurus, and 3 years later, go to a used car dealer and try to sell it at a buy cost/profit, no luck. If you sell it to a private buyer, you will do a little better.
If you buy a 1970 Charger and go to sell it in three years, you are going to see a profit or at least your money back.
It's not the hobby, it is what you chose to collect.
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Valued Member
United States
124 Posts |
i didnt call collectors dumb denco7 I meant, is the hobby dumb. not collectors. it seems the dealers are taking advantage of collectors. dealer sells you a coin for $1000 he tells you its rare and valuable then turn around right there and try selling it back right away because change your mind he will tell you its not a rare coin its only worth bullion and offers you $300. youll be like didnt you told me it was a rare coin a minute ago. that just seems wrong unetical.
Edited by alvaro77
05/06/2016 7:30 pm
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Pillar of the Community
United States
1068 Posts |
Quote:slamnbass mintproduts offers $3.50 for the Presidential dollar $4.00 face value set. And $1.00 for the State Quarters that are $1.25 face. all coin shops in my area also pay below face. isn't that illegal Why would it be illegal?... It is not a crime to offer someone less than its face value... If you accept it then it is your loss and their gain... |
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Valued Member
United States
124 Posts |
see Bryan78 thats why I mean by coin collecting been dumb you as a collector should be on my side it seems that you are in favor of the dealers that are trying to rip off us collectors. it seems that people here in the forum dont believe what I'm saying, try it yourselfs take your coins and pretend to sell your coins to a dealer and youll see I'm not lying. ebay not an option for me. paypal froze my account once for no reason lucky I didnt have any money in it at that time. and not a fan of selling online. shipping coins and hopefully get a check in the mail later. they could just easily say we didnt receive any coins and what could I do about it. Edited by alvaro77
05/06/2016 7:41 pm
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Pillar of the Community
United States
1068 Posts |
Quote:see Bryan78 thats why I mean by coin collecting been dumb you as a collector should be on my side it seems that you are in favor of the dealers that are trying to rip off us collectors. it seems that people here in the forum dont believe what I'm saying, try it yourselfs take your coins and pretend to sell your coins to a dealer and youll see I'm not lying. ebay not an option for me. paypal froze my account once for no reason lucky I didnt have any money in it at that time. and not of fun of selling online. shipping coins and hopefully get a check in the mail later. Whoa, first off I'm not choosing any sides here... I just answered your question... You asked if it was illegal and I said no it wasn't... Is it shady.. YES... Illegal...NO... I also understand how businesses like coin shops work... They buy it for less and sell it for more and if I took any of my coins to a shop I would expect the same treatment cause I know how they work so I would not be shocked by their offer.... If you don't like their offer then refuse it and move on... If I was going to buy your proof sets off you I wouldn't offer you a penny more than face for them because the market is saturated with them.... |
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Replies: 52 / Views: 15,626 |
Posted 05/06/2016 6:08 pm
