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Replies: 56 / Views: 5,105 |
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Valued Member
 United States
103 Posts |
Doubters. That's all
It may be hard - but I've learned a bit at the Wharton school of business. Ivy league for all those who don't know.
Obviously it isn't easy to do, but I can guarantee you I can make profit like this.
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Pillar of the Community
1283 Posts |
LOL, you sound a little naive but good luck. I like gold but you can't buy much on $250.
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Pillar of the Community
United States
830 Posts |
Fooled me Mr Ivy league school of business. 
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Valued Member
 United States
103 Posts |
Just saying. It isn't impossible
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Pillar of the Community
United States
1450 Posts |
If you insist on doing this,silver is the better option because the premium on fractional gold coins will kill you. Every time you buy you will pay a premium and unless you can sell for the same premium you will lose your shirt pretty quickly.
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Rest in Peace
United States
9104 Posts |
Quote: Doubters. That's all
It may be hard - but I've learned a bit at the Wharton school of business. Ivy league for all those who don't know.
Obviously it isn't easy to do, but I can guarantee you I can make profit like this. It looks like all you learned is how to be another Internet troll. You posted how you made $300 on a transaction where I showed your actual profit was at most $6, and likely a considerable loss. Then you had the chutzpah to remove your post, rather than admit you were wrong. I started out with very little cash, too, back when $250 would buy silver that would cost well over $5000 today, or a complete gold denomination type set, including the $3. Can you make a profit by buying and reselling, particularly buying larger quantities and selling smaller ones? Without a doubt. Is $250 enough to do this with gold or silver? Not as a general rule. You may be able to do some small selling (buy rolls of the eight 2009 cents and holders, and sell sets, for example), but you'll be making money mainly for doing a lot of hours of work, which isn't exactly the "sitting on your butt at a computer" that I believe you mentioned.
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Valued Member
 United States
103 Posts |
I feel sorry for those who doubt the power of money, and greed, human stupidity and the simple principles of economics. I took down the post because it didn't prove my point. A 6 dollar profit is still 6 dollars that I now have that I didn't before. ebay isn't the only way I sell. I sold each one individually at a coin/collectible show for 45 each...hence no shipping. So no, 6 dollars is still 6 dollars. I also sold 3 silver Peace dollars for 95 dollars, which I bought on campus for 20 dollars - that shows how easy it is to make money off a hobby which many young ones don't know about. Right there, 75 dollars in my pocket. Well about 68 if you take away ebay fees. Sorry to sound like a grotesque  but I find it insulting when someone calls me an internet troll, or someone living in a "fantasy land"
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Valued Member
United States
362 Posts |
Don't forget to report that 6$ to pay taxes on your profit lol
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Valued Member
 United States
103 Posts |
Doubters will be doubters
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Pillar of the Community
United States
3670 Posts |
Rbethell11, I admire your 18 year old spunk, but you are green my friend, as all 18 year old kids are green, as was I when I was your age, and as I still am at 37, it just is what it is. You are in bus school and into pm's already, so I will say you were smarter than I at that age.... My dad always told me..."Kid, how did you get smarter than me, and I am three times older than you?" The one thing you are missing my young friend, no matter how smart you think you are, nothing replaces EXPERIENCE, and these guys you are talking with here have been there an done it many times over, and one could learn much from taking the time to consider their point of view. Not saying you shouldn't decide for yourself in the end, but don't be so fast to discount their advice either, as my dad also always say...."If your gonna be dumb, you better be tough", lol. I do like you, so don't take it the wrong way, but my ol man ripped my backside most of my day, and if I really had been listening, I would have already retired by now, other than bar tending and buying and selling products on ebay....
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Valued Member
 United States
103 Posts |
Silverhawk - I respect everyones opinions here...obviously I have no where near as much knowledge in coin collecting as you and many others on here. But I will confidently say that there is a difference between being a coin collector who is a part time seller, and a seller who is a part time coin collector. I love coins - they are neat, cool, fun to collect. But I love making money more. Its just the way I'm wired. And I feel that there is a way to do so doing what I'm doing.
The people on here are much more knowledgable when it comes to coins compared to me, but numbers don't lie. If I can sell a 20 dollar purchase for 95 dollars, then I'm going to continue doing so. If I get burned, lesson learned. But in the long run 200 or so dollars isn't going to be a major hit. So why not try.
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Pillar of the Community
United States
3670 Posts |
I don't doubt that you can make some wise moves and buy and sell and make a profit in time.I also think you should consider what the vets who have bought an sold for years say, and know the ends and outs of hidden costs that eat up profit, via shipping, ebay, paypal, etc.. Nothing wrong with buying and selling often, I have considered it myself, as I also say often we own nothing we just rent it, lol. And being that driven to turn a profit that early is only a good thing IMO, as if I have stated if most of your generation thought that way, I would feel more comfortable about the society's overall future.... In the end, one has to follow ones gut, if all the great successes of the world also listened to someone who said something could not be done, then they may have not ever accomplished anything.... And lastly, I have little experience at this, as I just got into it back in January, so we are on similer paths  ....
Edited by Silverhawk74 05/22/2011 02:12 am
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Rest in Peace
United States
9104 Posts |
Quote: I took down the post because it didn't prove my point. A 6 dollar profit is still 6 dollars that I now have that I didn't before. You not only "didn't prove your point", you took a simple third grade math example and botched it so bad that you got an answer of $300 when it should have been $6. Not only was the answer obviously wrong, but anyone who managed to get into Wharton should be able to do the calculation in their head in not more than five seconds. Quote: Ebay isn't the only way I sell. I sold each one individually at a coin/collectible show for 45 each...hence no shipping. So no, 6 dollars is still 6 dollars. My quote of your post was verbatim, here it is again: Quote: Sold each one for 45 plus 1.99 shipping. Now you're saying you sold them at a show with no shipping. I say you've shown that you're a liar. You were either lying then, or you're lying now. TIP: When you've dug yourself into a hole, the first step is to stop digging. Quote:I also sold 3 silver Peace dollars for 95 dollars, which I bought on campus for 20 dollars - that shows how easy it is to make money off a hobby which many young ones don't know about. Right there, 75 dollars in my pocket. Well about 68 if you take away ebay fees. Do you realize that you're either admitting to using your inside information to take advantage of a fellow student, or got them so cheap because they were stolen? Either way, it doesn't speak highly of your business ethics (see Business Ethics 101). My suggestion to you would be to admit you lied, and apologize for trying to run your little fantasy business on here. Quote: Sorry to sound like a grotesque ;) but I find it insulting when someone calls me an internet troll, or someone living in a "fantasy land". It is meant to be insulting. So quit doing what validates people making such comments.
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Valued Member
 United States
103 Posts |
Yes. I took advantage of someone. When someone offers you free money you take it. Bigfredd I'm not going to argue with you. Obviously you feel that I'm lying and digging myself in a hole, but it is I who is laughing to the bank. I feel sorry for you, who feels that you know so much that anything out of your ability to comprehend must be "fantasy". I will gladly take a picture of my paypal transaction to show you how easy it is to make money when you stop living in your "fantasy land"
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Valued Member
 United States
103 Posts |
And there are no ethics in business - ask steve jobs or bill gates
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Replies: 56 / Views: 5,105 |