How to get coins

showmethepenneys

Last time writing here i asked for free coins, dident work, so now I ask what the best and cheapest means for collecting error and key date coins would be. Like I stated in my previous post, I am trying to creat a bussinus selling coins. I am sure you all could help do this becuse of your experiance.
Any suggestions would be appriacited.

Weather11am

Number 1 Tip... speling...oops, I mean spelling.

Seriously though, I would say ebay is your best bet. Good luck!

Leiana

It takes money to make money. eBay is not a good place to start unless you already have quite a knowledge base.

-Amanda

Weather11am

Get books, they always say buy the book before the coin.

p8nt

Start out buying cheap PCGS slabs and then flipping them on Ebay for a bit more. Repeat until you have enough money to start working on a bit more expensive coins. Lather, rinse, and repeat as necessary.

Man

Bank rolls. You can always return the rest.
Coin lots on eBay. Be careful.
Make friends with cashier or tellers. Buy coins from them and they will always keep an eye out for good ones.

showmethepenneys

I own a few books. currantly I sort about 75 dollars in penneys a week(bank rools).I made a little bit doing this. I chose penneys becuse of the number of key dates and errors.
I like the Idea of buying cheap pcgs slabs and marking them up.
I apologize for my spelling, i type with two finger so i make mistakes.
Please keep the ideas coming.

coinandcurrency242

you have to set up small goals..... maybe only a few hundred coins at a time you can sell then work yourselve up to being a major dealer!

showmethepenneys

I think small goals is a excellent idea as well, a person must have a bussinus plan, that includes short term plans and long term plans.
I think I will review my plans to better include short term goals.

Weather11am

p8nt, where do you find cheap PCGS slabs?

coinandcurrency242

<< <i>p8nt, where do you find cheap PCGS slabs? >>



negotating?

eyoung429

First off......don't beg....everyone is out of flips, staples and staplers.

It takes money to make money.....If you are trying that route, get a LOT OF BOOKS and learn the series that you want to deal in. Next, learn the pitfalls of coins.....there is a long standing belief that "Buy the coin and not the plastic"....if ya can't grade...yer gonna get ripped!!! Next, READ and learn on counterfiets and errors if that is where you are going.....there are a LOT of knowlegeable people on this board who have written books on the subjects and have collected for years and know how to tell a real clip from a fake.

Secondly.....DON'T BEG....you will get a lousy reputation and if, and I mean IF you happen to get off the ground with your venture, you will lose a great buyers pool from here. Nobody wants to pay premium for coins that you got for free by begging.

There are a LOT of upstanding individuals in this forum with a lot of hands-on experience that you can learn from.....take advantage of that rather than pissing people off by begging.

Thirdly......READ,READ and research....it will take you a long way.

Goodluck!!!

showmethepenneys

Thats great advice. Id also like to apologize for my previous begging.
I dident think people would get that angry. Besides, id rather beg for you opinions then your coins, after all, you can give a guy a fish and feed him for a day, or teach him how to fish and feed him for a life time.

Man

I forgot the obvious about your business, do you have a website.

If not consider buying one and not using the free kind.

Keeping a simple website that is well organized, start it now to get all the bugs out.

showmethepenneys

Currantly I use ebay. Its excellent becuse its well organized and cheap,tons of buyers, great features and finacial safty.

Weather11am

<< <i>Currantly I use ebay. Its excellent becuse its well organized and cheap,tons of buyers, great features and finacial safty. >>



Ebay rocks!!! Except for the fees!!!

p8nt

Where do you get cheap PCGS slabs you ask?

From me of course. Seriously, I have a bunch for sale if you are interested, just PM me.




I agree with the website suggestion. I just sold a $1700 coin on Ebay and the fees combined cost over $100 on that coin! Ebay fees suck which is why I designed my site and now sell primarily through it.

showmethepenneys

the fees are small considering that you are advertising to million for just 3 to 4 dollars. imagine how much that would cost for nation television advertising!

dan8402

<< <i>the fees are small considering that you are advertising to million for just 3 to 4 dollars. imagine how much that would cost for nation television advertising! >>



Note that he said the fees were around $100 not $3-4.

p8nt

Just pulled up the actual amount it cost me to sell that coin... $110.45

Man

showmethepenneys do both have a website and an eBay page.
The website is like having a store and doing mail orders.
People like to see a independent business they want an alternate to eBay.

showmethepenneys

Currantly I am in the bigging throughs of my bussinus. Have a website would be to expensive. Ebays not that bad if you dont use the buy it now fature, then they take a cut of your profit if you do.
Anymore ideas for cheap coins?

p8nt

<< <i>Have a website would be to expensive. >>



Not true. It costs me nothing!





<< <i>Ebays not that bad if you dont use the buy it now fature, then they take a cut of your profit if you do. >>



Again, not true. I didn't use the BIN feature and the fees still totaled to $110. It was a standard 99¢ start auction. If I had sold it on my website for the exact same price as it did on Ebay, I would only have paid $51 for the Paypal fee or even had the possibility of receiving a check for it in which case there would have been $0.00 fees!

Boom

<< <i>I agree with the website suggestion. I just sold a $1700 coin on Ebay and the fees combined cost over $100 on that coin! Ebay fees suck which is why I designed my site and now sell primarily through it. >>



This is precisely why I NEVER sell a coin worth more than "x" EVER on FleaBay.


I WILL be looking into the website thing SOON.

johnsim03

<< <i>Currantly I am in the bigging throughs of my bussinus. Have a website would be to expensive. Ebays not that bad if you dont use the buy it now fature, then they take a cut of your profit if you do.
Anymore ideas for cheap coins? >>



Down the road, if you are serious about your business, you must have a web site. Web site hosting is dirt
cheap nowdays. I could recommend ICD - link as a reliable
hosting provider. I don't have any interest in this company, other than the fact that it hosts my high-traffic
niche domain, CORRESPONDENCECHESS.COM, and we have been around for 10 years now (see my anniversary
medal to the left!). Once you have a web site, you put a link to it on your eBay "About Me" page (the only place
where such a link is allowed - not on eBay listings) and then your regular eBay customers will hopefully start
visiting your web page...

Good luck to you!

John

smokinjoe925

I know im a YN but I went to my friends house and we went througn his parents change from the last 15 years and we found 3 double die pennies, plus tons of awesom toned coins. my personal opinion is to buy larg amounts of small change (not new) and go throught it one by one to find errors or anything else. but first you might want to research error types and other valuable traits befor you buy stuff.

showmethepenneys

I already do this, I go through circalted bank rolls, about 75 dollars a week worth. Ive found a few minor things, like the 1956 d over shadow D. i think i have two of them.

30AnvZ28

I have VERY little in my website for my boat restoration business. GODADDY.com is the best place to purchase your site... its dirt cheap for 1 or 2 year lengths.