There is a lot of speculation concerning the actions of flippers without actually asking a flipper. I am a recovering flipper and here is what I have done in the past to insure profitability and in fact how little profit I would consider acceptable. I started the flipping process with silver eagles and would buy somewhere between 300-400 silver eagles each year. I did this enough times that I was able to become a registered NGC dealer. This was also back when the mint had a 30 day return window. I set up multiple PO Boxes and had many different credit cards associated with them. Once my coins were delivered I had weeks to prescreen the silver eagles for the highest quality. I returned all coins I thought were PF69s or lower and only sent in what I believed to be PF70s. My success rate was around 85% and as long as I could get about $20 over gross cost, I was doing fine. I switched believe it or not, to those proof presidential dollar sets as they were cheap (around 18 bucks per set) and was able to put together 100s of perfect sets. I would order nearly 1000 sets and prescreen all individual coins. The Lincoln coin was especially profitable selling for nearly 100 dollars each. With 1000 sets coming in and 30 days to prescreen for PF70s I ended up with about 300 PF70 Lincolns at 100 each! It really didn't matter what happened to the other coins as this was crazy worth it. I also found 4 triple strike rotated die errors in successive packages which was a bonus. needless to say these issues became almost a full time job. Here is something that anti flippers will love. One day while looking through the presidential proof sets, the mint itself called me and asked me what the hell I was doing as my return rate was ridiculous. I told them exactly what I was doing and they stated that I could no longer buy coins from the mint. My response was that I was working within the rules of the mint and was returning coins I believed were not perfect. They didn't buy my rationale and cancelled my accounts with the mint. One week later is when their return policy was reduced to 7 days so you can all blame me for that LOL. I have flipped every single issue that I though would be profitable (25th anniversary silver eagle set with 10 HHOL - got 57 sets of those, SIlver eagle with the previous years reverse - forgot the year, bought and received nearly 80 of those errors, and that oh so profitable silver Kennedys PL and DMPL - literally had 100s of those. So this ended up being more of a story, but thought I would post it anyway for those who want to hate flippers (and I have to admit it, it felt wrong and that is why I quit) and for those who ever wondered why the mint reduced their return window.
Jaycee- cannot tell if you are bragging or saying the truth behind why folks despise flippers for their multiple accounts and hhl violations etc?
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@Mgarmy said:
Jaycee- cannot tell if you are bragging or saying the truth behind why folks despise flippers for their multiple accounts and hhl violations etc?
Not bragging, this is what happened and the behavior of this level of flipping is something that I cant partake in anymore as the whole process seems seedy.
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
@WQuarterFreddie said:
Who cares about the flippers/dealers? Enough already! This thread is supposed to be about the coins and their release.
Please start a new thread to debate flippers/dealers
Why don't you start a new thread to talk about the coins and their release? This thread has gone in this direction. You aren't oven the OP of this thread. So exactly who are you to tell us what we can or cannot talk about?
The bots and the flippers are tied to the release of these coins. It is NOT off topic.
@Mgarmy said:
Jaycee- cannot tell if you are bragging or saying the truth behind why folks despise flippers for their multiple accounts and hhl violations etc?
Not bragging, this is what happened and the behavior of this level of flipping is something that I cant partake in anymore as the whole process seems seedy.
It was seedy because of the way YOU did it. I'm a flipper. I've never returned anything to the Mint. There are a lot of flippers who keep the 69s and sell them to break even and then make their profit on the 70s without abusing the return privilege.
@Mgarmy said:
Freddie-it went flipper page one…SOL
Ironically, I once started a thread dedicated to flipping and people told me they would prefer to talk about it on the thread devoted to the individual issue and asked me why we needed a separate flipper thread.
@Mgarmy said:
Freddie-it went flipper page one…SOL
Doesn't mean you have to continue wasting our time on a subject unrelated to the OP. Its getting ridiculous to have to read a bunch of flipper/dealer debate instead of the OP topic🙄
Comments
There is a lot of speculation concerning the actions of flippers without actually asking a flipper. I am a recovering flipper and here is what I have done in the past to insure profitability and in fact how little profit I would consider acceptable. I started the flipping process with silver eagles and would buy somewhere between 300-400 silver eagles each year. I did this enough times that I was able to become a registered NGC dealer. This was also back when the mint had a 30 day return window. I set up multiple PO Boxes and had many different credit cards associated with them. Once my coins were delivered I had weeks to prescreen the silver eagles for the highest quality. I returned all coins I thought were PF69s or lower and only sent in what I believed to be PF70s. My success rate was around 85% and as long as I could get about $20 over gross cost, I was doing fine. I switched believe it or not, to those proof presidential dollar sets as they were cheap (around 18 bucks per set) and was able to put together 100s of perfect sets. I would order nearly 1000 sets and prescreen all individual coins. The Lincoln coin was especially profitable selling for nearly 100 dollars each. With 1000 sets coming in and 30 days to prescreen for PF70s I ended up with about 300 PF70 Lincolns at 100 each! It really didn't matter what happened to the other coins as this was crazy worth it. I also found 4 triple strike rotated die errors in successive packages which was a bonus. needless to say these issues became almost a full time job. Here is something that anti flippers will love. One day while looking through the presidential proof sets, the mint itself called me and asked me what the hell I was doing as my return rate was ridiculous. I told them exactly what I was doing and they stated that I could no longer buy coins from the mint. My response was that I was working within the rules of the mint and was returning coins I believed were not perfect. They didn't buy my rationale and cancelled my accounts with the mint. One week later is when their return policy was reduced to 7 days so you can all blame me for that LOL. I have flipped every single issue that I though would be profitable (25th anniversary silver eagle set with 10 HHOL - got 57 sets of those, SIlver eagle with the previous years reverse - forgot the year, bought and received nearly 80 of those errors, and that oh so profitable silver Kennedys PL and DMPL - literally had 100s of those. So this ended up being more of a story, but thought I would post it anyway for those who want to hate flippers (and I have to admit it, it felt wrong and that is why I quit) and for those who ever wondered why the mint reduced their return window.
you've posted this before.
I too received the same call from Mint HQ but was not banned
Work quicker - 7 days is still a long time to go through sets / coins from the mint.
Jaycee- cannot tell if you are bragging or saying the truth behind why folks despise flippers for their multiple accounts and hhl violations etc?
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
Who cares about the flippers/dealers? Enough already! This thread is supposed to be about the coins and their release.
Please start a new thread to debate flippers/dealers
Freddie-it went flipper page one…SOL
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
Not bragging, this is what happened and the behavior of this level of flipping is something that I cant partake in anymore as the whole process seems seedy.
I thought you said the mint cut you off? Or shorten your return window. I can see why you got “religion “
🎶 shout shout, let it all out 🎶
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100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
Why don't you start a new thread to talk about the coins and their release? This thread has gone in this direction. You aren't oven the OP of this thread. So exactly who are you to tell us what we can or cannot talk about?
The bots and the flippers are tied to the release of these coins. It is NOT off topic.
It was seedy because of the way YOU did it. I'm a flipper. I've never returned anything to the Mint. There are a lot of flippers who keep the 69s and sell them to break even and then make their profit on the 70s without abusing the return privilege.
Not everyone flips the way you did.
Ironically, I once started a thread dedicated to flipping and people told me they would prefer to talk about it on the thread devoted to the individual issue and asked me why we needed a separate flipper thread.
Doesn't mean you have to continue wasting our time on a subject unrelated to the OP. Its getting ridiculous to have to read a bunch of flipper/dealer debate instead of the OP topic🙄
Move along, nothing to see here, folks.