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Replies: 24 / Views: 2,008 |
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Pillar of the Community
United States
1180 Posts |
@lars1963 ... With all due respect ... you asked for advice & you are receiving advice from people with many decades of experience in this field....
...have you talked to any professional financial advisors about your plan? ... of the 5 that I personally know (2 are coin collectors), all would agree with what folks here are trying (emphasis on the work 'trying') to tell you, that coins are a very risky investment vehicle, with low odds for much, if any, profit ...
...are you asking whether or not your idea is sound? Or, are you just wanting experienced dealers/collectors to agree with you?...
...You are receiving plenty of answers on the former, & none of the latter ...
...I hope you grasp the significance here ...
Edited by mrwiskers 03/05/2025 08:43 am
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Pillar of the Community
United States
1099 Posts |
If your having fun then you are doing it right.
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Moderator
 United States
71929 Posts |
@lars1963: *** Your reply was moved to the appropriate forum for the proper attention. ***And I added to your post count.. 
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Pillar of the Community
United States
6120 Posts |
Sounds to me this activity is just a "hobby" to occupy your time pre and post retirement....Best of luck and have fun doing it. Quote: Some higher value Morgans auctioned raw on HiBid might be there because they were cracked out of details holders. That sentence has been in the back of my head from the start of this post....only because I have seen this situation happen on ebay....Again wishing you the best and  to CCF Looking forward to seeing some of your buys.... 
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Pillar of the Community
 United States
4380 Posts |
One additional item. HiBid is just an auction aggregation platform. The individual auctions are run by various sellers with their own policies, practices, and terms.
-----Burton 50 year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, OnLine Coin Club Owned by four cats and a wife of 40 years (joined 1983)
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Pillar of the Community
United States
1882 Posts |
It is difficult to make money on coins, and if you manage to break-even after five years, you will have done well.
I'm with the others. Enjoy the hobby! :)
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Bedrock of the Community
 United States
18661 Posts |
Quote: HiBid is just an auction aggregation platform. The individual auctions are run by various sellers with their own policies, practices, and terms. Including buyer's premiums between 10% - 25%, credit card fees, tax, and shipping. What seemed like a good deal can turn into a not very good one very quickly.
Inordinately fascinated by bits of metal with strange markings and figures
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Valued Member
United States
413 Posts |
Instead of trying for the investment angle, why not give them to you kids or grand kids? It could be a legacy thing. That's what I am doing anyway.
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Pillar of the Community
United States
2026 Posts |
When I began collecting as a young teen 50 years ago, I always had it in the back of my mind that someday I might get rich from buying coins, holding them and then selling them for a profit.
Once, I was so confident that I spent good money buying a handful of coins from a dealer who said in their mailer, "These coins are guaranteed to go up in value!" About five years later, not only had they not gone up in value, a few had gone down. I needed money so I cut my losses and sold them to my local dealer.
I know you want to see some return on your investment. But another option is to keep them, invest in some handsome coin albums and display them for your friends and family. They might garner you a few extra dollars; on the other hand, 85 beautiful Morgans are a treasure for the eyes.
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Replies: 24 / Views: 2,008 |