Is that amazing someone can make 28% out of coins in a week

jcping

Check the leader board here.

robertpr

So he had a lot of time on his hands to study the price guide, find obvious errors he believed would be corrected shortly, and guess what he was right! That strategy likely will not make a long term winner but did get him an early jump.

Personally, I made ten bucks on my portfolio this week.

RYK

I know. I only made 15%. This coin biz is harder than I thought.

Tassa

<< <i>So he had a lot of time on his hands to study the price guide, find obvious errors he believed would be corrected shortly, and guess what he was right! That strategy likely will not make a long term winner but did get him an early jump.

Personally, I made ten bucks on my portfolio this week. >>



I wonder if it will affect the decisions of those thinking about entering-especially those who aren't Collector's Club members but were considering joining now because of the contest.

mirabela

I've only been following this contest from the sidelines, but what has it really got to do with how money is made in coins, anyway? Besides buying raw & making them, upgrades and all that, doesn't the bread and butter come from being on the right sides of the buy/sell spread? This contest doesn't take that into account at all, does it?

TwoSides2aCoin

here are my stats off of that link :

Rank 294
Portfolio Value $999,030
Today's Change $0
Total Coin Position $997,460
Cash Available $1570



Notice I saved enough cash to buy a hundred shares of CLCT plus the broker's fees. Any windfall and maybe I can get lunch at BK™.

robertpr

<< <i>

<< <i>So he had a lot of time on his hands to study the price guide, find obvious errors he believed would be corrected shortly, and guess what he was right! That strategy likely will not make a long term winner but did get him an early jump.

Personally, I made ten bucks on my portfolio this week. >>



I wonder if it will affect the decisions of those thinking about entering-especially those who aren't Collector's Club members but were considering joining now because of the contest. >>



People not in the club cannot see the standings or anything about the contest, except that it is occuring. Think it will inspire people to sign up, just so they can play? Maybe.

Tassa

<< <i>

<< <i>

<< <i>So he had a lot of time on his hands to study the price guide, find obvious errors he believed would be corrected shortly, and guess what he was right! That strategy likely will not make a long term winner but did get him an early jump.

Personally, I made ten bucks on my portfolio this week. >>



I wonder if it will affect the decisions of those thinking about entering-especially those who aren't Collector's Club members but were considering joining now because of the contest. >>



People not in the club cannot see the standings or anything about the contest, except that it is occuring. Think it will inspire people to sign up, just so they can play? Maybe. >>



I think anyone can see the leader board.

BigE

Since the coins he bought already went up 28%, it would seem he should trade into other coins. I would do a similar thing but mine only went up 400.00-----BigE

bgrice

<< <i>here are my stats off of that link :

Rank 294
Portfolio Value $999,030
Today's Change $0
Total Coin Position $997,460
Cash Available $1570



Notice I saved enough cash to buy a hundred shares of CLCT plus the broker's fees. Any windfall and maybe I can get lunch at BK™. >>



Don't tell me that you bought the other 50% of the Seated Halves that I don't own? Made a whopping $300 the first day and sold that one coin to solidify the profits. (Nada since)

RedTiger

It reminds me a bit about a classroom newspaper stock contest that I participated in. I won easily buying a warrant that consistently traded between 3/8 and 1/2 on volume of 1000 shares or something like that. With no transaction costs, and no bid/ask spread, I made like 33% every couple of days. I did not have the heart to take the "crown," using such underhanded tactics. If it had been a real cash $10k prize, I may have chosen otherwise.

PCGS tried to close some of the loopholes, with limited numbers of coins available. However, there are obviously still some big enough to drive a truck through. It does make a mockery of the contest for those taking it seriously, though it is fun to catch proofreading errors for some. It does accomplish two goals: getting press when the winner arrives at the finish with a high dollar total of maybe $5 million, and it does enlist hundreds of "volunteers" to help check their price guide. The high winning total will make many newbies think it is easy to make money in PCGS coins. Looking at the ten year performance for most series, most coins, and that is not the reality.