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Do you think $6 a coin profit is worth it?

ajbaumanajbauman Posts: 1,174 ✭✭✭
in Precious Metals
If you could purchase 2008 Britannias for about $17 each delivered....

Do you think you could sell them fast enough and with enough profit to make it worthwile?

I would have to buy at least 500 at a time to get the price mentioned above. I figure the average selling price would be about $23 after fees, but I'm not sure if I could move the quantity fast enough and still have enough interest.

What do you think?
Buying £2 Britannias

Comments

  • fcfc Posts: 12,793 ✭✭✭
    2008 brits i assume are 1 oz of silver?
    17 per oz is steep. i had no idea brits sold for that much above spot.
    what did ebay show lots selling for?
  • agentjim007agentjim007 Posts: 6,256 ✭
    $17 to $23 is $6 profit and a decent one for bullion.
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    if the numbers hold, 25% profit is good for a flip, IMO.
    imageQuid pro quo. Yes or no?
  • ajbaumanajbauman Posts: 1,174 ✭✭✭
    I would say that if anything I think that my numbers are pretty conservative.

    The actual price delivered would really be about $16.4 and it looks like the average selling price on eBay is closer to $30 minus about 15% for fees -> $25

    Completed items - you have to sign in first, then it will show you the completed items. I hate this 'function' in eBay!

    However I'm more concerned about selling them fast enough in that quantity while not bringing down the overall prices. And if I only sold 1 a week, that would take forever. I guess I could discount them and sell them using a multiple fixed item auction, but that raises my fees.
    Buying £2 Britannias
  • fcfc Posts: 12,793 ✭✭✭


    << <i>I would say that if anything I think that my numbers are pretty conservative.

    The actual price delivered would really be about $16.4 and it looks like the average selling price on eBay is closer to $30 minus about 15% for fees -> $25

    Completed items - you have to sign in first, then it will show you the completed items. I hate this 'function' in eBay!

    However I'm more concerned about selling them fast enough in that quantity while not bringing down the overall prices. And if I only sold 1 a week, that would take forever. I guess I could discount them and sell them using a multiple fixed item auction, but that raises my fees. >>



    man i would be all over your setup deal like a bear on honey.
    i would list lots of 1, 3 and 5. Every day until i ran out. Drop the price
    a few bucks, who cares? Make that money!!! List 10 in one day and
    see what happens.

    The real question is how many can you get and how fast? I would
    want 200 yesterday and 200 more every week.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Seems like a lot of work for $6 a pop.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • clouisejewelersclouisejewelers Posts: 329 ✭✭


    << <i>Seems like a lot of work for $6 a pop. >>



    Yet so many here scream that dealers are crooks if they make half that on a coin.
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>Yet so many here scream that dealers are crooks if they make half that on a coin. >>




    Indeed.

    A 25% profit on each coin would be a dealer's dream.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    can someone post a pic of what the brittannias look like? Why do they bring such a premium?
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • ajbaumanajbauman Posts: 1,174 ✭✭✭
    Britannia Info and Pics

    They usually bring large premiums, like the Pandas, because there aren't that many minted and they are beautiful designs. At least that's my opinion.
    Buying £2 Britannias
  • DeadhorseDeadhorse Posts: 3,720 ✭
    image


    The 2008 is a one year offering only.

    One Ounce of .958 Fine Silver.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • jmski52jmski52 Posts: 22,899 ✭✭✭✭✭
    They are absolutely knockout designs. I agree with fc, except that I'd sell them in lots of 10 for maybe $4.50 premium.

    Edited: I mean, a starting bid of $4.50 over cost for a lot of 10. I bet you'd still get the $6.00.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    the 2008 britannia doesn't look as good as the other britannias in my opinion.

    Is it true from what deadhorse said that its only 1 oz of .958 silver instead of .999???
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    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
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