@CoinscratchFever said:
I recently posted some dredge dreck on the BST offering a 15% discount off book. I got like one hit and he ignorantly asked me the price and once I did the math FOR HIM, he said "No thanks"...
I replied something like " No problem it's an ugly as.. coin anyways, LOL.
Of course he/she/dip shot had less than something like 50 posts so, go figure another squirrel looking for a nut.
That's a little harsh. Lots of people will look at a coin and not buy it. My eBay listings often have dozens of lookers and not bidders. Even when they have watchers, there's about a 4:1 watcher to bidder ratio.
Which part? Me or him?
you
I figured as much. But remember I'm not a seller (for a living) so, I'am a seller to progress and steam along this path. Apparently, I will not sell for too much less than I have invested otherwise I will keep and move along...
Coins are new to me business however, is not. Every opportunity you miss is an opportunity I gain.
Rest assured, I appreciate YOUR knowledge of both
I'm not saying you had to sell to him or that your price was unfair. I'm just saying that there are a lot of lookers for every buyer and I wouldn't condemn the lookers. If he didn't buy this time, he might buy the next time. Well, unless he sees you calling him out. LOL.
Some lookers may have a similar coin and they just want to see what your coin sells for to get an approximate idea of what their coin is worth.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I figured as much. But remember I'm not a seller (for a living) so, I'am a seller to progress and steam along this path. Apparently, I will not sell for too much less than I have invested otherwise I will keep and move along...
Coins are new to me business however, is not. Every opportunity you miss is an opportunity I gain.
Rest assured, I appreciate YOUR knowledge of both
I'm not saying you had to sell to him or that your price was unfair. I'm just saying that there are a lot of lookers for every buyer and I wouldn't condemn the lookers. If he didn't buy this time, he might buy the next time. Well, unless he sees you calling him out. LOL.
Some lookers may have a similar coin and they just want to see what your coin sells for to get an approximate idea of what their coin is worth.
Yes, sometimes true also. But they are all potential customers, either now or in the future, and one should treat them as such.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@jmlanzaf . True, and my apologies to the coinhoarder as he just informed me that he will not be buying any of my coins in the future. Ok, well I'm not going to lose any sleep because I couldn't sell a coin for less than the grading fees.
@CoinscratchFever said: @jmlanzaf . True, and my apologies to the coinhoarder as he just informed me that he will not be buying any of my coins in the future. Ok, well I'm not going to lose any sleep because I couldn't sell a coin for less than the grading fees.
@CoinscratchFever said: @jmlanzaf . True, and my apologies to the coinhoarder as he just informed me that he will not be buying any of my coins in the future. Ok, well I'm not going to lose any sleep because I couldn't sell a coin for less than the grading fees.
This is part of the problem with playing the "grading game". You may have to sell a coin for MUCH less than the grading fees. A $10 coin is a $10 coin, even if it is in a $40 slab.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@CoinscratchFever said: @jmlanzaf . True, and my apologies toformed me that he will not be buying any of my coins in the future. Ok, well I'm not going to lose any sleep because I couldn't sell a coin for less than the grading fees.
@CoinscratchFever said: @jmlanzaf . True, and my apologies to thouldn't sell a coin for less than the grading fees.
This post is an even bigger mistake. Now you've publically called out a member of the forum.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I have actually not posted the text in case both of you want to just delete your posts and move on. You've got to remember he's an amateur who hasn't yet realized that buying/selling coins isn't a guaranteed lottery. Sometimes, you have to lose money.
In fact, if you are playing the "crack out" or "top pop" game, especially if you're not John Albanese, you should plan on losing money on 9 out of 10 coins and hope to win enough on the 10th one to make up for the losses.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@Hemispherical said:
Revisited the thread because it somehow went off the rails then got back on track.
I think.
It’s like watching one of those shows... Who shot JR?
That crazy #$@%& did it. I love the episode when JR went to his brother-n-laws (I guess) in Knots Landing. He was eating a sandwich they gave him and he said this is pretty good what is it? Then the in-law said, Tunafish
@ShadyDave said:
Reddit is place I like to sell coins/bullion....just like Instagram, Facebook and other forums. It's more geared towards the lower end of the spectrum since its more of the younger crowd, however, I've bought and sold items from $1-$3,500 for 5+ years without any issues. As you can see, there are 9,236 users subbed to the pmsforsale sub and 5,903 for the coins4sale sub, so a decent number of eyes. I know a bunch of other PCGS forum users also buy/sell coins and bullion there as well:
@ShadyDave said:
Reddit is place I like to sell coins/bullion....just like Instagram, Facebook and other forums. It's more geared towards the lower end of the spectrum since its more of the younger crowd, however, I've bought and sold items from $1-$3,500 for 5+ years without any issues. As you can see, there are 9,236 users subbed to the pmsforsale sub and 5,903 for the coins4sale sub, so a decent number of eyes. I know a bunch of other PCGS forum users also buy/sell coins and bullion there as well:
PMs on Reddit tend to trade quickly at spot. Warning: those with egos tend to get spanked by that group,LOL
I've probably sold 50k worth of gold on reddit pmsforsale this year. They do not move quickly at spot in the environment we are in right now.
How are you handling payments? The problem with bullion in general is that the 3% transaction cost (PP + shipping) is higher than the bid/ask spread.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@ShadyDave said:
Reddit is place I like to sell coins/bullion....just like Instagram, Facebook and other forums. It's more geared towards the lower end of the spectrum since its more of the younger crowd, however, I've bought and sold items from $1-$3,500 for 5+ years without any issues. As you can see, there are 9,236 users subbed to the pmsforsale sub and 5,903 for the coins4sale sub, so a decent number of eyes. I know a bunch of other PCGS forum users also buy/sell coins and bullion there as well:
PMs on Reddit tend to trade quickly at spot. Warning: those with egos tend to get spanked by that group,LOL
I've probably sold 50k worth of gold on reddit pmsforsale this year. They do not move quickly at spot in the environment we are in right now.
What kind of gold are you selling that is taking long to move at spot if you don't mind me asking? Is it $20's/1 oz. gold AGE's? If so, like I said most people there are going to buy smaller amounts ($2.5 and $5 pre-33 and 20 Francs and things in the $200-$500 range). 100 oz silver bars, pre-33 $20's and 1 oz gold are going to move slower there...
@ShadyDave said:
Reddit is place I like to sell coins/bullion....just like Instagram, Facebook and other forums. It's more geared towards the lower end of the spectrum since its more of the younger crowd, however, I've bought and sold items from $1-$3,500 for 5+ years without any issues. As you can see, there are 9,236 users subbed to the pmsforsale sub and 5,903 for the coins4sale sub, so a decent number of eyes. I know a bunch of other PCGS forum users also buy/sell coins and bullion there as well:
PMs on Reddit tend to trade quickly at spot. Warning: those with egos tend to get spanked by that group,LOL
I've probably sold 50k worth of gold on reddit pmsforsale this year. They do not move quickly at spot in the environment we are in right now.
What kind of gold are you selling that is taking long to move at spot if you don't mind me asking? Is it $20's/1 oz. gold AGE's? If so, like I said most people there are going to buy smaller amounts ($2.5 and $5 pre-33 and 20 Francs and things in the $200-$500 range). 100 oz silver bars, pre-33 $20's and 1 oz gold are going to move slower there...
How is it worthwhile to sell 20 francs gold at spot? I get 98% from my guy who sells to the distributor at 99%. Can't be worth the risk, cost or trouble to ship 1 of them to someone.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@ShadyDave said:
Reddit is place I like to sell coins/bullion....just like Instagram, Facebook and other forums. It's more geared towards the lower end of the spectrum since its more of the younger crowd, however, I've bought and sold items from $1-$3,500 for 5+ years without any issues. As you can see, there are 9,236 users subbed to the pmsforsale sub and 5,903 for the coins4sale sub, so a decent number of eyes. I know a bunch of other PCGS forum users also buy/sell coins and bullion there as well:
PMs on Reddit tend to trade quickly at spot. Warning: those with egos tend to get spanked by that group,LOL
I've probably sold 50k worth of gold on reddit pmsforsale this year. They do not move quickly at spot in the environment we are in right now.
What kind of gold are you selling that is taking long to move at spot if you don't mind me asking? Is it $20's/1 oz. gold AGE's? If so, like I said most people there are going to buy smaller amounts ($2.5 and $5 pre-33 and 20 Francs and things in the $200-$500 range). 100 oz silver bars, pre-33 $20's and 1 oz gold are going to move slower there...
$20's/1oz. It is not that it takes so long to move at spot. It will not move at spot. When gold was $1200 an ounce, I could move it at spot. But in this environment, it will not. In my experience it has to be discounted more than 1% to get it to move and even then with back luck it can take a couple days.
It's tough to move quantity that small which is why I only sell $20's/1oz or the occasional $10/0.5oz.
From what I have seen, the people who do sell 20 Francs for spot or a little above spot usually buy them close to spot when there are eBay bucks promotions going on. They will buy enough to max out their eBay bucks while a 10% or 12% promo is going on and will earn $500. They will then sell the coins they purchased at their break even price and will have $500 to spend on eBay.
Most people conduct transactions through paypal Friends/Family. Others use bitcoin, venomo, google wallet, zelle or other normal online payments. Just like the BST here"caveat emptor". Do your due diligence and know who you're conducting business with.
From what I have seen, the people who do sell 20 Francs for spot or a little above spot usually buy them close to spot when there are eBay bucks promotions going on. They will buy enough to max out their eBay bucks while a 10% or 12% promo is going on and will earn $500. They will then sell the coins they purchased at their break even price and will have $500 to spend on eBay.
Most people conduct transactions through paypal Friends/Family. Others use bitcoin, venomo, google wallet, zelle or other normal online payments. Just like the BST here"caveat emptor". Do your due diligence and know who you're conducting business with.
Not worth it unless you don't have a BM nearby.
I can flip the 20s at 98%, doesn't matter what I paid for them. So, if you get 100% and have to ship it, that's $6 difference between your cost and my cost. You'll have to ship it uninsured 1st class to actually get the same price, with the associated risk.
All comments reflect the opinion of the author, evn when irrefutably accurate.
From what I have seen, the people who do sell 20 Francs for spot or a little above spot usually buy them close to spot when there are eBay bucks promotions going on. They will buy enough to max out their eBay bucks while a 10% or 12% promo is going on and will earn $500. They will then sell the coins they purchased at their break even price and will have $500 to spend on eBay.
Most people conduct transactions through paypal Friends/Family. Others use bitcoin, venomo, google wallet, zelle or other normal online payments. Just like the BST here"caveat emptor". Do your due diligence and know who you're conducting business with.
@U1chicago said:
All the usual venues seem slow for me lately (BST, eBay, Instagram).
The big auctions are still doing well from what I'm seeing.
The sales tax on eBay might be slowing some down (including those that might have purchased on here to resell).
The big auctions are also charging sales tax
Is Great Collections charging sales tax outside of California (I don't see it on their website)?
The big auctions have higher end material that is often harder to find and they tend to cater to clients that are less price sensitive (especially when it comes to a coin that might not show up for sale often) .
The other venues which have more of the everyday items are slowing down. The tax certainly plays a role. People who would pick up a gold oz, Gold Saint, a Morgan, or even a few oz of silver on eBay for a small premium over melt will certainly think twice if that same item includes 5%-10% in taxes. Some will also be more hesitant to buy from the BST if their main selling avenue (eBay) is no longer a viable option (with more buyers needing to pay tax, the prices will need to be lower in order to draw interest when selling).
Harder to find yes, but most coins offered by auction houses are not hard to find. It is only a low minority.
Maybe items aren't selling because the ask price is too high. I don't look on the BST but most listings I see on eBay are offered at inflated if not absurd fantasy ask prices.
That’s part of the story, but eBay and the BST have had overpriced and fairly priced items for many years now. And yet it is still getting slower.
I’ve also noticed items that don’t draw any interest sell for more when auctioned. There was a toned Morgan on Instagram that had no takers when it was priced in the mid $300s. It went to auction at GC and realized more than $1k. I’ve also watched some items sell at auction for more than similar items were available for on eBay as buy it nows.
For eBay and BST, I suspect that due to the falling price level, many sellers price the item high to reflect their cost basis. I also suspect that the prevalence of BIN is due to the weak market. I sold about 100 lower priced coins (all non-US) through GC about three years ago starting at 99c and a few sold for almost nothing. (To be fair, some also did very well.) Same story on SA's eBay equivalent.
For the auction example, I'd attribute that to others being willing to bid once they see their bid isn't on a financial island. There is comfort in numbers. That happened to me once for a coin listed on a dealer website. I could have bought it for about 35% less.
Then there are also the sellers who think (far too) highly of their coins. I think there a lot of these and many don't want to admit that their perception isn't shared by others.
I figured as much. But remember I'm not a seller (for a living) so, I'am a seller to progress and steam along this path. Apparently, I will not sell for too much less than I have invested otherwise I will keep and move along...
Coins are new to me business however, is not. Every opportunity you miss is an opportunity I gain.
Rest assured, I appreciate YOUR knowledge of both
I'm not saying you had to sell to him or that your price was unfair. I'm just saying that there are a lot of lookers for every buyer and I wouldn't condemn the lookers. If he didn't buy this time, he might buy the next time. Well, unless he sees you calling him out. LOL.
Some lookers may have a similar coin and they just want to see what your coin sells for to get an approximate idea of what their coin is worth.
Yes, sometimes true also. But they are all potential customers, either now or in the future, and one should treat them as such.
*"Investors are moving more and more money to cash in a sign of mounting skepticism about the ability of financial markets and the economy to deliver more growth.
An analysis from research firm DataTrek, drawing on fund flow data from the Investment Company Institute, shows that there was $3.4 trillion in U.S. money market funds as of October 2. That’s about 14% higher than at the end of 2018, and has risen nearly every week since May."*
We switched out 100% of our stock fund to a money market capital preservation fund. Waiting for Dow 18,000 to get back in.
Rasing cash on the coin biz to be able to buy, buy, buy.
From what I understand Money Market Funds are not covered by the FDIC for loss.
If stuff went really south you would be at a total loss in your investment. You might want to check it out with your broker or fund prospectus.
Sounds like your hoping to time the market...which is a bad idea.
BST for some reason trades at a bit of a discount to many other platforms. MS 64 $20 aren't even selling at spot, yet the big boys are charging spot plus $50-70. I find that a bit crazy.
I've never used BST. My observation is that I could sell Pre 33 $20' s but would need to discount to spot. For spot I can walk a few blocks and sell it for 1% below with no shipping, and walk out with a check.
Since, We mainly have 20's, my wife opened an E-Bay store. The costs are high so our prices aren't low. We do catch a break when E-Bay offers 8% E-bucks. After factoring in the discount our prices seem to be only slightly on the high side. We expect to sell maybe a coin or two per month and that's fine. If I come across a "deal" and buy more gold than I want, We have the option to use a bullion dealer to lay off my lower graded gold or Eagles. American eagles sell somewhat closer to spot. I do have to carry the coins to my office but the dealer is around the corner so no shipping is involved.
Auction houses really aren't on my radar since a 10% vig would have us selling well below spot on many offerings.
@jmlanzaf . said: This post is an even bigger mistake. Now you've publically called out a member of the forum.
The flipside to the Butkis story goes something like this: And when I say this with all do respect I mean with all-due-respect.
Don't yank my flippin chain and I won't yank yours back I couldn't give a rats rip if someone buys another coin from me or not. I'm not in the business, the coin list for $38 then came the 15% discount take it or leave it. But don't yank it.
@CoinscratchFever said: @jmlanzaf . said: This post is an even bigger mistake. Now you've publically called out a member of the forum.
The flipside to the Butkis story goes something like this: And when I say this with all do respect I mean with all-due-respect.
Don't yank my flippin chain and I won't yank yours back I couldn't give a rats rip if someone buys another coin from me or not. I'm not in the business, the coin list for $38 then came the 15% discount take it or leave it. But don't yank it.
Well, future business aside, is there any point in creating ill-will with a member of the community?
All comments reflect the opinion of the author, evn when irrefutably accurate.
Comments
Some lookers may have a similar coin and they just want to see what your coin sells for to get an approximate idea of what their coin is worth.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Yes, sometimes true also. But they are all potential customers, either now or in the future, and one should treat them as such.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@jmlanzaf . True, and my apologies to the coinhoarder as he just informed me that he will not be buying any of my coins in the future. Ok, well I'm not going to lose any sleep because I couldn't sell a coin for less than the grading fees.
This is part of the problem with playing the "grading game". You may have to sell a coin for MUCH less than the grading fees. A $10 coin is a $10 coin, even if it is in a $40 slab.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I wholesale to dealers, offline now.
``https://ebay.us/m/KxolR5
.
This post is an even bigger mistake. Now you've publically called out a member of the forum.
All comments reflect the opinion of the author, evn when irrefutably accurate.
The hobby needs more venom.
Nor should you.
I have actually not posted the text in case both of you want to just delete your posts and move on. You've got to remember he's an amateur who hasn't yet realized that buying/selling coins isn't a guaranteed lottery. Sometimes, you have to lose money.
In fact, if you are playing the "crack out" or "top pop" game, especially if you're not John Albanese, you should plan on losing money on 9 out of 10 coins and hope to win enough on the 10th one to make up for the losses.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@CoinHoarder . Should be money hoarder... Just kidding man
. If you want I will mail you the coin for free. I see my mistakes moving on now.
Revisited the thread because it somehow went off the rails then got back on track.
I think.
It’s like watching one of those shows... Who shot JR?
That crazy #$@%& did it. I love the episode when JR went to his brother-n-laws (I guess) in Knots Landing. He was eating a sandwich they gave him and he said this is pretty good what is it? Then the in-law said, Tunafish
I've probably sold 50k worth of gold on reddit pmsforsale this year. They do not move quickly at spot in the environment we are in right now.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
How are you handling payments? The problem with bullion in general is that the 3% transaction cost (PP + shipping) is higher than the bid/ask spread.
All comments reflect the opinion of the author, evn when irrefutably accurate.
It may be slow on the BST, but this thread about how slow it is on the BST already has 1,000 views.
So... we've got that going for us.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
What kind of gold are you selling that is taking long to move at spot if you don't mind me asking? Is it $20's/1 oz. gold AGE's? If so, like I said most people there are going to buy smaller amounts ($2.5 and $5 pre-33 and 20 Francs and things in the $200-$500 range). 100 oz silver bars, pre-33 $20's and 1 oz gold are going to move slower there...
How is it worthwhile to sell 20 francs gold at spot? I get 98% from my guy who sells to the distributor at 99%. Can't be worth the risk, cost or trouble to ship 1 of them to someone.
All comments reflect the opinion of the author, evn when irrefutably accurate.
$20's/1oz. It is not that it takes so long to move at spot. It will not move at spot. When gold was $1200 an ounce, I could move it at spot. But in this environment, it will not. In my experience it has to be discounted more than 1% to get it to move and even then with back luck it can take a couple days.
It's tough to move quantity that small which is why I only sell $20's/1oz or the occasional $10/0.5oz.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
@jmlanzaf I don't sell 20 Francs there for spot.
From what I have seen, the people who do sell 20 Francs for spot or a little above spot usually buy them close to spot when there are eBay bucks promotions going on. They will buy enough to max out their eBay bucks while a 10% or 12% promo is going on and will earn $500. They will then sell the coins they purchased at their break even price and will have $500 to spend on eBay.
Most people conduct transactions through paypal Friends/Family. Others use bitcoin, venomo, google wallet, zelle or other normal online payments. Just like the BST here"caveat emptor". Do your due diligence and know who you're conducting business with.
Not worth it unless you don't have a BM nearby.
I can flip the 20s at 98%, doesn't matter what I paid for them. So, if you get 100% and have to ship it, that's $6 difference between your cost and my cost. You'll have to ship it uninsured 1st class to actually get the same price, with the associated risk.
All comments reflect the opinion of the author, evn when irrefutably accurate.
The one armed man !
I can make more money on e bay even after all the fees then on bst
Well sure. BST requires an 80% discount to work.
On some things, certainly.
All comments reflect the opinion of the author, evn when irrefutably accurate.
1st time I've seen Bitcoin referenced as a normal payment method!
For eBay and BST, I suspect that due to the falling price level, many sellers price the item high to reflect their cost basis. I also suspect that the prevalence of BIN is due to the weak market. I sold about 100 lower priced coins (all non-US) through GC about three years ago starting at 99c and a few sold for almost nothing. (To be fair, some also did very well.) Same story on SA's eBay equivalent.
For the auction example, I'd attribute that to others being willing to bid once they see their bid isn't on a financial island. There is comfort in numbers. That happened to me once for a coin listed on a dealer website. I could have bought it for about 35% less.
Then there are also the sellers who think (far too) highly of their coins. I think there a lot of these and many don't want to admit that their perception isn't shared by others.
From what I understand Money Market Funds are not covered by the FDIC for loss.
If stuff went really south you would be at a total loss in your investment. You might want to check it out with your broker or fund prospectus.
Sounds like your hoping to time the market...which is a bad idea.
BST for some reason trades at a bit of a discount to many other platforms. MS 64 $20 aren't even selling at spot, yet the big boys are charging spot plus $50-70. I find that a bit crazy.
I've never used BST. My observation is that I could sell Pre 33 $20' s but would need to discount to spot. For spot I can walk a few blocks and sell it for 1% below with no shipping, and walk out with a check.
Since, We mainly have 20's, my wife opened an E-Bay store. The costs are high so our prices aren't low. We do catch a break when E-Bay offers 8% E-bucks. After factoring in the discount our prices seem to be only slightly on the high side. We expect to sell maybe a coin or two per month and that's fine. If I come across a "deal" and buy more gold than I want, We have the option to use a bullion dealer to lay off my lower graded gold or Eagles. American eagles sell somewhat closer to spot. I do have to carry the coins to my office but the dealer is around the corner so no shipping is involved.
Auction houses really aren't on my radar since a 10% vig would have us selling well below spot on many offerings.
Hamburgers are for profit.
Coins are for fun.
@jmlanzaf . said: This post is an even bigger mistake. Now you've publically called out a member of the forum.
The flipside to the Butkis story goes something like this: And when I say this with all do respect I mean with all-due-respect.
I couldn't give a rats rip if someone buys another coin from me or not. I'm not in the business, the coin list for $38 then came the 15% discount take it or leave it. But don't yank it.
Don't yank my flippin chain and I won't yank yours back
Well, future business aside, is there any point in creating ill-will with a member of the community?
All comments reflect the opinion of the author, evn when irrefutably accurate.
The OFR is for that!
I wonder how often the Mayan's sacrificed one of their own to appease the Gods.
Good morning people, nice to know my avatar isn't stained red.