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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.
I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."

Comments

  • speetyspeety Posts: 5,424
    I missed out last year image not that i didn't see the potential but as a 16 yearold there wasn't much cash available for me to spend on the quick flips.

    So nope, i wasn't flipping when it wasn't cool, let alone cool image
    Want to buy an auction catalog for the William Hesslein Sale (December 2, 1926). Thanks to all those who have helped us obtain the others!!!

  • segojasegoja Posts: 6,141 ✭✭✭✭
    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!

    Be careful with this year's offerings, they may be a repeat of the 74-S Ike!!!!!
    JMSCoins Website Link


    Ike Specialist

    Finest Toned Ike I've Ever Seen, been looking since 1986

    image


  • << <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 heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
  • Last year was a fluke.. the gravy train is over.. everyone and their brother is ordering everything they can in lots of 200-2000... ten years from now 95% will still be less then issue price.

    "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
  • 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 heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."


  • << <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.
    Witty sig line currently under construction. Thank you for your patience.
  • I've been flipping out for some time.
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭
    It's great when it works, but anybody thinking they're going to get rich flipping mint products should take a look at the current bid for 71-S proof sets for a reality check. Some days, you're the windshield and some days, you're the bug. image
  • ccmorganccmorgan Posts: 1,232 ✭✭✭


    << <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.
    Love the 1885-CC Morgan
  • CoxeCoxe Posts: 11,139
    Is flipping cool now? It is profitable to some people for a while. As I have said before, it requires no specific talent or special access. For that reason, it cannot be a perpetual goldmine. Congrats to those who have divined some quick cash. But don't quit your day jobs thinking you have boarded the gravytrain with inexhaustable fuel.
    Select Rarities -- DMPLs and VAMs
    NSDR - Life Member
    SSDC - Life Member
    ANA - Pay As I Go Member
  • I can think of a few. Coin Vault, HSN etc. etc.


    image


  • << <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?
    I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
  • 7over87over8 Posts: 4,733 ✭✭✭
    Since '78

    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 itimage
  • fcfc Posts: 12,793 ✭✭✭
    speculation in a hobby is such a foolish enterprise.
    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? )
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,574 ✭✭✭✭✭
    I think coins are great.
    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. image
    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 image.

    Anyone find a cheerios sacky in circulation , yet ?
  • KaelasdadKaelasdad Posts: 1,232 ✭✭✭
    I never saw the unpopular flipping times, got involved heavily last year. So far, so good, but completely understand that it could be a long 2007 before we see great opportunity again.

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