Without Having A Storefront.... (question)

GregTheGreat · October 27, 2004 4:38PM

I have turned to the boards for know-how before and I shall here again....

I have a general question for some of the seasoned vets. to the boards.... Any opinions you can offer are graciously thanked.

I was wondering.... If you don't have a storefront, how is the best way to get inventory?

Mainly I am looking for the stuff the people bring off the street. (ex. Low Grade Morgans, Silver Qtrs, Dimes, and Halves, Buffalos, etc.)

Now see I can't be picking these kind of items up on the internet for 45 cents each spending 2 cents on a flip and selling them for 55 cents and be turning any kind of a good profit. What advice can you give on where I can locate items like this (either in low or high quantities) for a good (profitable) price.

I just need to get items like this before my next show and I am kind of at a loss when it comes to finding these kind of "low-grade" items that can return more the a 1 or 2 cent profit.

Thanks In Advance Everyone.

-Greg Ullstam (GRU Coins)

MadMarty · October 27, 2004 8:17PM

Running an ad in the local paper, putting cards up in supermarkets are a few ways. Now that you made a profit your last coin show be sure to report it to the IRS (thread forwarded). Gotta keep you on the up and up!!! Remember all those free flips you received are considered income, be sure to report them!!!

TheNumish · October 27, 2004 8:31PM

Hey Mad Marty,

Why don't you take some of the leftover coins from the proof sets you break up and memo them to Greg for a few months. Your in them for nothing and it'll help Greg get going. I'll provide the 2X2's.

Sphinx357 · October 27, 2004 8:48PM

<< Running an ad in the local paper, putting cards up in supermarkets are a few ways. Now that you made a profit your last coin show be sure to report it to the IRS (thread forwarded). Gotta keep you on the up and up!!! Remember all those free flips you received are considered income, be sure to report them!!! >>

darktone · October 27, 2004 9:16PM

There is probably a wholesale type dealer in your area that all the small dealers sell this type of stuff to- get hooked up with this guy. mike

kieferscoins · October 27, 2004 9:31PM

Check with a local shop and I bet they will be more than willing to unload those types of coins at competitive prices.

Cameron Kiefer

my3cents · October 27, 2004 9:44PM

there are some folks around here with a lot of low grade stuff...just post on the BST forum. Of course, you'll have to buy it.

Also - go get a metal detector - you can find lots of low grade stuff that way..and it's free!

FC57Coins · October 27, 2004 9:55PM

Or you could always rely on good ol'

kieferscoins · October 28, 2004 3:48AM

Get the things you need like a stapler before you even try to get inventory. Seriously. If you don't have the supplies and a stapler how are you going to make it in the coin business?

Cameron Kiefer

GregTheGreat · October 28, 2004 3:50AM

<< Get the things you need like a stapler before you even try to get inventory. Seriously. If you don't have the supplies and a stapler how are you going to make it in the coin business?

Cameron Kiefer >>

My stapler broke last night and I needed a new one so thats why I made the post. Sorry for any confusion. I had one of the old "clipper" staplers and it broke so I need a new 1.

-Greg Ullstam

kieferscoins · October 28, 2004 3:51AM

I see. It sounded like you didn't have one yet especially when you were asking to borrow. Hopefully someone will be able to help out.

Cameron Kiefer

JadeRareCoin · October 28, 2004 3:58AM

Seriously. If you don't have the supplies and a stapler how are you going to make it in the coin business?

Cameron, do you think that B. Max Mehl had a stapler? I think not. He still made it big in the coin business even without a stapler. Maybe Greg will make it big without the supplies.

kieferscoins · October 28, 2004 4:00AM

I haven't read that B Max Mehl didn't have a stapler. He did have tons of employees though.

Cameron Kiefer

EVillageProwler · October 28, 2004 4:04AM

The point that Jade is trying to make, Cameron, is that your harping on supplies as being one of the primary ingredients for success is wrong. The two biggest things that Greg needs to worry about are cash flow and inventory flow. Everything else is secondary. In this thread, Greg is clearly trying to address his inventory flow issues.

EVP

TWQG · October 28, 2004 4:21AM

<< Ingredients: Pork and Ham >>

-huh?!?

Murphy · October 28, 2004 4:35AM

Greg is trying to bypass the formal business education process by becoming a self-taught business man and he wants us to teach him. That's very good and even commendable if there is someone willing to do so. So far, we have complied by telling him where and how to get flips, where to get supplies & coins, where to sell them, etc. Now we're into the chapter on overhead and taxes, lol.
Got to have supplies and operating equipment. I'm no dealer, but what kind of a dealer would I be if I went borrowing 2x2's and staples from the dealer next door every time I ran out? I should not run out of basic supplies and if I do, then I go to the other next door dept store and buy them there! Greg, ya made a profit on your last show. You got operating capital now! Be self-sufficient and buy you the cheapest stapler you can find and that would probably be a flat stapler, at the Dollar Store. Then go to any coin shop in your area and look for good buys. If you know what to look for then buy it and sell it for a profit on EBay. If you don't know what to look for, then read these forums and links here until you know what you're doing and have confidence you can make money and build your collection on the side. I feel that if you were truly informed about what coins to buy and sell, we wouldn't be having this conversation right now. You'd have more than enough money to buy a stapler.

dthigpen · October 28, 2004 4:54AM

Greg,

Check this out...

Cheers,

pharmer · October 28, 2004 5:03AM

There, done and done. No more legs being pulled.

UncleJoe · October 28, 2004 5:07AM

Check this out...

I think it's worth $6.95 just to see what he sends.

Joe.

Tsimmerdown · October 28, 2004 5:27AM

"This is the information you are looking for! Don't waist any more time trying to squeeze pennies out of the products you sell. If you are serious about making money on eBay, This is what you have been looking for!!

***I have recently added 2 new chapters full of my trade secrets that I didn't want to reveal!***
I decided that you guys deserve to know, so I added two of my most effective methods! I figure if I share the wealth, it'll all come back to me. Take advantage of this now! These methods are HOT!

Hit the BUY IT NOW button NOW, and I'll have Your copy of this 9 page Step-by-Step ebook emailed to you within the day!"

I wonder if this "ebook" he emails is written with proper grammar or not. It makes me doubt his expertise, even with the 2 new chapters full of trade secrets. Those must be short chapters if this 9 page version contains an additional 2 NEW chapters. I wouldn't want to "waist" any money on low-quality advice.

GTG: Since you seem to have continual cash flow problems, may I suggest looking at small community newspapers or magazines to buy some coins? Some of them will allow you to list an ad for free.

mrearlygold · October 28, 2004 8:22AM

Who in the world would want to sit in a fish bowl in todays day and age?

Tom

mrearlygold · October 28, 2004 8:23AM

<< Greg,

Check this out...

Cheers, >>

GregTheGreat · October 28, 2004 8:33AM

For All Of Those Who Have Given Me Suggestions....

THANKS!

I know some of you may have taken a few of my posts the wrong way with the supplies and such.... and for that I take all the blame. I have recently purchased 10,000 flips and when I got about on flip 400 my stapler broke and I was meerly looking for suggestions on the other thread. I was hoping someone may have had an extra one that they might be looking to sell at a used price. I hope that I have clarified all of my recent posts with this paragraph. If you have any other questions or comments feel free to p.m. me or e-mail me.

Thanks,

-Greg Ullstam

Fairlaneman · October 28, 2004 9:40AM

One suggestion. Use some common sense before you proceed to do, ask or say something. Case in point recently. The Stapler.

Ken

Sequitur · October 28, 2004 9:46AM

I thought the stapler request really was in jest, given the "free flips" debacle. I wonder if this is part of some larger conspiracy to fool us.

dthigpen · October 28, 2004 9:47AM

<< I thought the stapler request really was in jest, given the "free flips" debacle. I wonder if this is part of some larger conspiracy to fool us. >>

Unfortunately, I don't think so.

relayer · October 28, 2004 9:53AM

<< I wonder if this is part of some larger conspiracy to fool us. >>

I guess it depends on your definition of fool.

I just hope he doesn't rip his underwear

my3cents · October 28, 2004 9:53AM

to get inventory:

RUN an ad EVERY DAY for a month that says "I buy old and rare coins - any condition".

You will have several opportunities to purchase some stuff at pretty good prices.

Coinhusker1 · October 28, 2004 9:54AM

<< 

<< I thought the stapler request really was in jest, given the "free flips" debacle. I wonder if this is part of some larger conspiracy to fool us. >>

Unfortunately, I don't think so. >>

I agree. This is like watching the proverbial train wreck.

Without Having A Storefront.... (question)

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