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 Replies: 10 / Views: 1,658 |
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New Member
United States
11 Posts |
I got some coins from some friends and a few from family. So I have gotten interested in looking at coins. I have looked at the US Mint (Thinking they would have the best coins for the best price). BUT I have seen on " ebay" US Mint coins selling for less that the mint sells them for. How is this possible? Don't collectors get their coins from the mint?I have seen some that do not "do ebay". I would like to understand some of this. Please help! |
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Moderator
 United States
6563 Posts |
It's for the same reason that ANY product you buy brand new and never use...will be resold for less money.
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New Member
 United States
11 Posts |
So somebody spent 35.00 on a new coin and sold it for 25.00 on ebay with a PCGS certificate? This is not clear to me. Please help?! |
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Bedrock of the Community
United States
19931 Posts |
Lots of dealers roll the dice with several submissions of the same coin. They hope to hit some MS/PR-70's since they sell for big bucks. The lesser ones that come back < 70 they just sell in the secondary market for a loss. They figure they will more than make up the loss by selling a few 70's.
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New Member
United States
11 Posts |
That seems to make sense. BUT is it for the love of the coin or is is for the profit.
Are coin dealers like used car dealers?
Please don't take the talk personal, just a question?
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Valued Member
United States
120 Posts |
Like anyone else, a coin dealer is in the business to make money. Just like anyone else you have those that are going to make their money buy selling quantity over quality and those that are willing to wait for the right quality item and turn a large profit. There is nothing personal with ordering coins off the internet, its just another form of business and the same rules apply.
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Moderator
United States
6563 Posts |
Quote:
Are coin dealers like used car dealers? Sadly yes...some of them are. But as stated...it's a business for the most part. The money that they might loose reselling the gambles can be made up for on the high dollar finds and trades. |
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Pillar of the Community
United States
581 Posts |
Ok, Look at it like this.
Buy 100 pieces @ 50.00 each.=5000.00
Given the I want it now factor you sell 50 of them at 75.00 or more = 3750.00 +/-
You then sell 25 more for cost(or a bit more) = 1250.00 +/-
Thus leaving an additional 25 pieces still in your possession, to sell for whatever you can get to increase your profit margin
You could theoretically "give" these 25 pieces away and still not lose any money.
Edited by mrwisker
08/31/2009 12:24 am
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Bedrock of the Community
United States
14454 Posts |
its more like this, buy 1000 pieces at $50.00 a piece=$50,000.00 send the ones you think have a shot at a 70 grade off to be graded (at a discount for bulk submissions) and send the others back to the mint for a refund sell the 70's on ebay at a huge profit (sometimes close to $1000.00 when they are still hot) and sell the 69's at a small discount from what the mint sells them for You have to be able to spend big money to make big money, if you only have a small amount to spend you will most likely only make a small amount |
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Pillar of the Community
United States
6326 Posts |
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You have to be able to spend big money to make big money  Seems I used to hear that same phrase around the Black Jack tables, back when I used to enjoy doing that sort of thing ! |
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Valued Member
United States
321 Posts |
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Replies: 10 / Views: 1,658 |
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Posted 08/30/2009 10:50 pm
