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Replies: 11 / Views: 12,488 |
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New Member
United States
37 Posts |
where do all these dealers at the flea market buy these coins ? they get so many and then mark them up so where are they getting them *** Edited by Staff to clarify topic title. Titles are important! ***
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Valued Member
United States
54 Posts |
Garage sales, estate sales, craigslist, ebay are all good sources if you're persistent and you make it a second job. They might also own a shop. You'd also be surprised how many old timers have buckets and buckets of junk silver that they've been hoarding for years. Just because they put a price on their stuff doesn't mean that that's what they expect to get for it. I'm sure that they're happy when someone just pays the asking price but they don't expect it. If you see something you like make an offer and don't be embarrassed to haggle. The more you buy the better the deals you can expect to get.
Edited by artyboy 04/25/2010 9:30 pm
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Pillar of the Community
United States
1534 Posts |
The majority is from customers looking to sell or people who have no clue about coins selling to the flea market dealers.
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New Member
 United States
37 Posts |
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Pillar of the Community
United States
4000 Posts |
The Morgan pros will have a more in-depth answer, but I would say probably because mintage was only 450,000 and that's not considering the survival rate. Try looking for an 1893-S and see what they go for just as road kill.
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Pillar of the Community
United States
1534 Posts |
Because of the low mintage and most were destroyed in the 1918 Pittman Act.
I suggest you look and read all you can on this forum. Many of the questions you are asking can be solved with a bit of reading on the forum or doing a little bit of research.
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Bedrock of the Community
United States
20753 Posts |
Availability of coins at the flea markets are pending where your flea market is located. Some are just regular coin dealers and actually have a coin or hobby store and find the amount of possible customers is much better at a place where possibly thousands walk by on one day. In such stores your sitting there waiting for a customer whereas at a flea market you could possibly find individuals that never considered a coin store. This is also true of other people at flea markets. For example at one I go to there is a Doctor that works in a clinic during the week. A barber that has a shop during the week. A plumbing person that also has a plumbing operation during the week. Then too there are people that own a pawn shop and sell all kinds of merchandise broght in to their pawn shops during the week including coins. One person I know that basically sells coins, comes from another state and in his area coins are no big thing so he can buy them from hobby type stores for practically a fraction of what he sells them for at a flea markets in big cities. Then too there are many situations where people have inherited a coin collection, start selling it off at a flea market, find it is a decent buisness, start looking for people that have coins to sell. Of course there are many situations where the merchandise was illigally obtained and is now being sold at flae markets. Two such flea markets were raided here a few weeks ago for all those illigal copies of movies and many not even released at the theaters yet. I do know one coin dealer that owns a coin store and sells at a flea market on weekends. He said he does more buisness on one Sunday than all week in his store.
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Valued Member
United States
71 Posts |
I will be using flea markets as a way to generate some revenue (during retirement/traveling years) selling off my "stores" of coins and stamps. It also seems to be a great place to talk with "like minded" individuals ... not unlike hanging around this community !
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Valued Member
423 Posts |
I know for a fact some flea market guys buy wholesale from coin shops.
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Pillar of the Community
Canada
1733 Posts |
I'm not a dealer but I do/have bought a lot of collections from other people over the years. The reality is people need cash for various reasons and I'm always willing to make an offer for cash on entire collections without picking them. After I do that, I'm stuck with 99 per cent of the coins being ones I don't want, don't need etc.. I'll often make an offer just because the collection has one or two nice pieces. I don't cherry pick them either, I make an offer on everything. So I end getting rid of a lot of middle of the road coins. Especially Royal Canadian Mint silver proof sets - I have far too many now. I consign to my cousin who does live and ebay auctions. I sell bulk to two flea market type guys I know. Some things I just hoard indefinitely and never sell. Bullion value silver coins are starting to overwhelm me though.
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Pillar of the Community
United States
581 Posts |
Like everybody above said...Auctions, personal collections(they add up quick)flea markets, the more people you ask the more people will bring you stuff. This works on so many levels...It's the if you build it, they will come. I know a guy that opened an stamp and coin shop (coins were always second to stamps with him though) He had his initial investment, and never sunk a dime of his own personal money into the business after the first three months. On a good Sunday afternoon, he would get no less than 6 or so collections that came through the doors. He would look through maybe half of the first book, flip through maybe one or two of the others. (briefly) He would then ask...what were you looking to get for the collection? After a brief haggle session, they would sell the lot to him. After all, they just wanted to move it along. On more than one occasion, after the deal was made, He would pull out maybe a half a dozen pieces out of the first album, set them aside and make the comment...Well that collection is paid for...then toss the rest of the collection off to the side for sorting later If people know what you collect, you can't imagine what people will bring in. Case in point...The above dealer, scored a stamp that sold for auction for 75k I don't think he knew it until several years after he closed the shop.
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Pillar of the Community
United States
1213 Posts |
This is a nice list of great ideas for obtaining a nice pile of coins. Thanks to all of you.
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Replies: 11 / Views: 12,488 |
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