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Were you flipping when flipping wasn't cool?

It has been an extraordinary six months for us. The Mint gave us 20th Anniversary Silver Sets (400% return), 20th Anniversary Gold Sets (200% return), 2006-W Platinum Four Coin Sets (300% return), 2006-W Silver Eagles (500% return), 2006-W Fractional & One Ounce Platinum (40% to 250% return), 2006-W Gold Fractional and Four Coin Sets (30% to 70% returns), and 2007 George Washington First Day Coin Covers (presently a 25% return in only three weeks). While there is some debate as to whether the 2007 GW FDCC profit is sustainable in the long run, we still have an incredible list of profitable opportunities.
What was the first Mint issue that you "flipped" for a profit? My first profitable opportunity was in the Goodacre presentation dollars back in 2000. They were selling for $400 on eBay while they were available from H. E. Harris at $210 each! My first "flip" on a Mint product came later that year, with the Millennium Set. They were released at 39.95 and briefly saw 125.00 before beginning a long decline.
P.S. I don't want this thread to become a "boast about your big scores" thread, so much as I'd like to reminisce with people who have profited (and been burned) by speculative opportunities in the past. It used to be extremely unpopular to talk about trying to profit from coins, but since so much of this profit has been reinvested in classic coins, hopefully it's an acceptable topic for discussion.
What was the first Mint issue that you "flipped" for a profit? My first profitable opportunity was in the Goodacre presentation dollars back in 2000. They were selling for $400 on eBay while they were available from H. E. Harris at $210 each! My first "flip" on a Mint product came later that year, with the Millennium Set. They were released at 39.95 and briefly saw 125.00 before beginning a long decline.
P.S. I don't want this thread to become a "boast about your big scores" thread, so much as I'd like to reminisce with people who have profited (and been burned) by speculative opportunities in the past. It used to be extremely unpopular to talk about trying to profit from coins, but since so much of this profit has been reinvested in classic coins, hopefully it's an acceptable topic for discussion.
I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
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So nope, i wasn't flipping when it wasn't cool, let alone cool
Be careful with this year's offerings, they may be a repeat of the 74-S Ike!!!!!
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
<< <i>Be careful with this year's offerings, they may be a repeat of the 74-S Ike!!!!! >>
Excellent advice. I'm afraid that after such a stellar year last year, people may think that anything the Mint produces will turn to gold.
"I am sorry you are unhappy with the care you recieved, is their anything I can do for you right now, how about some high speed lead therapy?" - A qoute from my wife's nursing forum
"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them." – Thomas Jefferson
1999 Silver Proof Sets
1999 DE Quarters (and a few other states as well)
1999 State Quarter FDCCs (until they were re-released later and the market crashed)
2000 Millennium C&C Set
2001 Buffalo Commemerative
2004 Peace Medal Nickel rolls
2005 USMC Commem, Ben Franklin Commem (do I have my year wrong? was that '06?), and Legacy Set
2006 20th Anniversary ASE & AGE, 2006-W Plat, Silver, and Gold
2007 GW FDCCs
The only lasting values have been the '99 Silver Proof sets and (to some extent) the DE quarter bags and rolls; the 2001 Buffalos, the '04 Peace Medal nickels, and the 2006 coins. The others went up for a time, cleared between 30% and 300% profit, and declined within six months. Notice the THREE YEARS without profitable releases. These things come in spurts. People should be patient and wait--and it could be a long wait...
<< <i>I tried to flip a 74-S Proof Ike back in 74. The 73's had gone wild, so I took my birthday money and bought the Ike for $10. I thought a quick double of my money. It just broke above $10 in the last few years. Waited a long time for that flip. Oh the wisdom of a 12 year old wannabe! >>
Sounds familiar. As a 14 year old in 1975, I nearly emptied my savings acount and bought 5 unc and 5 proof Bicentennial sets thinking they were going to be hot. Boy do I wish I would have taken that money to the dealer I used to buy from and bought some early coins instead. That purchase made the 1976 5 piece proof set my last US Mint purchase until last year. Took a 30 year break.
<< <i>Let's look at the history of profitable mint issues.
1999 Silver Proof Sets
1999 DE Quarters (and a few other states as well)
1999 State Quarter FDCCs (until they were re-released later and the market crashed)
2000 Millennium C&C Set
2001 Buffalo Commemerative
2004 Peace Medal Nickel rolls
2005 USMC Commem, Ben Franklin Commem (do I have my year wrong? was that '06?), and Legacy Set
2006 20th Anniversary ASE & AGE, 2006-W Plat, Silver, and Gold
2007 GW FDCCs
The only lasting values have been the '99 Silver Proof sets and (to some extent) the DE quarter bags and rolls; the 2001 Buffalos, the '04 Peace Medal nickels, and the 2006 coins. The others went up for a time, cleared between 30% and 300% profit, and declined within six months. Notice the THREE YEARS without profitable releases. These things come in spurts. People should be patient and wait--and it could be a long wait... >>
I have a feeling that sometimes when sales at the mint start to decline they "pull a stunt" like in 2004 with the clad proof sets. and perhaps the error COAs of 2003. I bought 10 -12 sets and they're not worth issue price now, but at the time thy were selling on flebay for upwards of $100+. I still have them and want to get rid of them.
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
<< <i>Is flipping cool now? >>
Good question. During the recent platinum frenzy, three-four dozen people actively discussed the issue and purchased the coin with the sole intent of reselling for a profit. When I first joined these forums, you would've practically gotten lynched for even suggesting the possibility of buying coins for speculative purposes. Now people are asking "Where's the next flip?!"
Does anyone on these forums remember those times? Was anyone else actively "flipping" coins during those times?
Proof Sets, Commems, Etc.
Missed the '97 Jackie
The all time missed opportunity is when I passed on 100 sets direct from the USM of Delaware Mini-Bags $25 at $29.95. MY point, "who wants these things for more than face when I can buy bank wrapped rolls". What a mistake. Those things went right to 500-800 per (and more) for a sustained period of time. How about 20x your money!!!!!!!
Whenever I intend to flip, I look at a few factors, in this order......
1) Popularity of the Issue (is it an easy sell with a decent collector base)
2) Past Performance (how did similar issue do in the past, relative to #1)
3) Real Risk (Delaware qtr bags above, risk is $4.95 over face, or $495 on $2995 investment - a no brainer-why didnt I do it
from comics, to coins, to baseball cards, has everyone not
learned the golden rule?
buy quality, not quantity. a bunch of shiny trinkets that
are mass produced rarely hold their short term value.
you will wait 50 years to get unburied with most of the mints
crap (franklin mint/US mint, is there a difference anymore? )
Shiney little orbs that are no fun unless they are flipped.
I may lose a lot of money peddling them on ebay, but I seldom get anyone whining and crying and makin' a fuss over them. Why ? Cuz they're cheap when ya think about it.
It's a hobby for most of us. For some , it's a habit. For others, it's an addiction. For others, it's a business. For me, it's good typing practice here
Anyone find a cheerios sacky in circulation , yet ?
``https://ebay.us/m/KxolR5