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 Replies: 19 / Views: 3,104 |
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New Member
United States
17 Posts |
I have collected too much of what I don't need. Decided to sell things off. I sell them to locals from a store I work at. It's small right now and not much to invest at once. I was hoping I could get some advice on item to get that would help with the profit margin.1970 mint sets for the kennedy d I have known and had. But any mint or proof sets or anything else not too pricey you could suggest? Sold 20 copper bullion rounds in 2 days. 200% profit. So those did well. Anything else suggested? Also... anywhere to get fractional silver at a decent price anyone knows of?
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Rest in Peace
10197 Posts |
There's really no wholesale clearinghouse for coins like what you mentioned, no easy money so to speak. If you can find a collection to liquidate, you can do well but to just buy to resell, join the long list of losers like many on ebay. Yes, there are deals to be had, but you got to get down and dirty in the trenches with the rest of us. I don't make much most often, enough to keep my hobby going, but not a livelihood. Not with mint sets or even "junk" melt silver. Stuff like the copper rounds, those are bought wholesale and you markup to retail(your price). Some folks buy quantity to get the price break, got $25 grand? Me either! Sorry can't give ya much more, other than follow on line auctions, local auctions, garage sales (stay away from craplist and other similar venues), check out storage or safe deposit liquidations. If you can cut out the middle man and become one, you can flip a buck or two. This is what's called, oh for shame...CAPITALISM! Edited by Crazyb0
08/06/2018 10:30 pm
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Bedrock of the Community
13014 Posts |
Not trying to be a jerk but here's the honest truth. People that have figured out a way to make money filling a need and did the work will not give away their secrets or where they buy. The best you will get is learn to grade and you can cherry pick or find varieties but no one is going to say contact xyz that's where I make money selling from there like you are asking.
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Pillar of the Community
5464 Posts |
I've seen rolls of circulated Kennedy's (40%'ers and 90%'ers) on ebay going for about melt value. I see what look to be some very nice AU's and BU's mixed in with them. I'm just wondering, you pick up a 40%'er BU for $2 or $2.50. I see them going for 4, 5 bucks or better on the bay. I guess there are other hidden costs but the profit looks good on paper. Edited by USSID18
08/06/2018 11:47 pm
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Bedrock of the Community
United States
73756 Posts |
 To CCF Sparechange1981! Errers and Varietys.
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New Member
 United States
17 Posts |
I don't want to do ebay and I also don't want to take peoples sources. My boss let's ne sell out of the gas station I work in. She even got me a display case I can take home at night. She wants nothing from me but for me to do my job. The extra time is mine. I guess my continuing question would be, advice on things to buy. I used the 1970 mint set as a cherry pick example. I search varities at home and I'm only building a type set and Wheat cent set for me. Been practicing grading 3 years now. The guy who took me under his wing passed away last year. Someone on lookzee told me about this site and I have read and learned a lot. I appreciate all that was said. All the advice and the truths you all have said. Thank you for that. Heading 24 miles tomorrow to my closest lcs. Thinking some nice mint sets to cut open for stock as a beginning. Proof sets for the people who want either their or a loved ones birth year. Other than that maybe older constitutional silver and wheat cents and books for the kids. Dont know how many rolls and books I've gave away to kids to try and start the collecting passion like my jedi master did for me. Anyhow... thank you again and any ideas pop up I'm new here but plan on being active. |
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Pillar of the Community
United States
2023 Posts |
Maybe some modern clad or silver commemoratives? Those are relatively inexpensive and could generate interest in the hobby. Some of the themes are historically significant, some familiar names, some sports (Olympic) related. There are war-related issues that might appeal to veterans (notably the series of silver WWI medals released this year).
Might not be the best for your profit margin, but could help your display be "sticky" -- people may look and ask, and you may learn what they want to buy.
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New Member
United States
17 Posts |
Really like the vet idea. If they are a vet, they get it at cost. I have several who come in. Thank you for that Alpha2814
Edited by Sparechange1981
08/07/2018 01:45 am
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Pillar of the Community
United States
509 Posts |
to CCF. I have at least two hundred of mint & proof sets but if I was to sell them then it is not likely that the buyer would be able to resell them for much profit because people selling them are looking for profit also. But good luck to you in your endeavor. |
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Pillar of the Community
Canada
5239 Posts |
A friend of mine is a "vest pocket" dealer who sets up at local shows. As a result he can purchase wholesale, not retail.
But the most important thing is that he is a master of determining what things sell for, so he knows what to buy it for, and all sorts of collectibles including pottery, toys, etc which he picks up at garage sales. So you need to learn a lot to recognize deals and look everywhere for them.
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Bedrock of the Community
United States
17884 Posts |
Consider your customer base. Are you selling to coin collectors, or mainly to the general public that has no real interest or knowledge of coins, but who will buy something if it looks interesting and isn't too expensive. These two markets have vastly different interests and that will change the mix of what you want to stock.
Edited by Conder101
08/07/2018 12:19 pm
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New Member
United States
17 Posts |
Orile... that's kinda what I want to do. Based in a gas station when I'm there working. I like to see the faces of people so I can see joy.
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New Member
United States
17 Posts |
Very few collectors. But a lot bring me their coins they find to ask what it's worth. I take the steps and show them how and why.
Most of the time I'll make an offer. Got a nice shiny cartwheel morgan for a $5 pack of smokes last week.
Some people just come in and give me stuff they found. Wheats mostly. I'm the coin guy in the area.
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Bedrock of the Community
13014 Posts |
Quote:
Got a nice shiny cartwheel morgan for a $5 pack of smokes last week.
You're ripping people off if you're buying Morgans for 5 bucks |
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New Member
United States
17 Posts |
Not when I tell them what their worth. This guy is an older guy. We have our little daily banter at work. He said he found it in is storeroom closet and thought I'd like it.
Looked at it for a bit. looked at a few prices. Made my offer. 30 bucks.
"Naah... just buy me a pack of smokes."
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Bedrock of the Community
United States
73756 Posts |
Awesome deal Sparechange1981! You got a steal on that!
Errers and Varietys.
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Replies: 19 / Views: 3,104 |
Posted 08/06/2018 10:35 pm
