So much for that idea!! Selling MS 65 Morgans for Profit (and fun!)

ElKevvo

Since my coin buying budget is getting a bit tight these days I am trying to think up some ways of coming up with some dollars to add to the budget. I recently got an email from a major dealer and they mentioned that they had some MS65 NCG Morgans in a variety of common date/mm combos, one of which was 1879-S that they were offering at slightly over wholesale bid in groups of 20. The math came out to $121.25 per coin. Since the tax return will be coming any day now I thought here might be a good opportunity to pick up an extra few hundred dollars if I can, figuring maybe make 20 dollars or so per coin. Then I checked recent sales of NGC 1879-S Morgans on eBay....one even went for 107.00. So much for that idea! The results of my search showed a lot unsold and of the few that sold I would have, at 121.25 made money on only one sale...and that does not count listing fees, PayPal fees, the opportunity cost of the capital outlay, etc.!

I think wholesale on this might be a little high if you can buy them in the retail eBay market for less! Just a thought on the subject...we are talking about common, nothing special major TPG graded Morgans here.

K

BlindedByEgo

The sheet really isn't very accurate on that stuff, is it?

AUandAG

I would expect that the dealer knows this information and wants you to do the marketing for
whatever loss it would be. Hmmmm, offer him $85 per coin and see what he says. Or, make
your own deal that could work for you and see if he bites.

good luck,
bob

guitarwes

"offered at slightly over wholesale bid" means that they can't sell them in the secondary market either for near 'bout bid or ask. There's just too many of them available, unless they had some great toning or were a good VAM.

relicsncoins

Good photos can help a lot. If the Ebay sales you looked at had poor photos, that could have resulted in a lower sale price. I am going to run a test this week on poor photos vs. good photos.

JJ

segoja

Look at the opportunity this way....buy them from E-Bay (Which is below wholesale) and sell them. NGC MS65's that are white are bringing around $115 wholesale in lots o 20 or more.

E-Bay has become a selling ground for common material that is at or below the true wholesale market. The problem is no dealer wants the hassle of buying one MS65 Morgan and making $10 on it. They want to make $10 x 20 coins.

You should look at the glass the other way around!!!

advalorem

$121 for a common 79s or 81s NGC-65 is not a bargain.

I would think $100 is a better price for the buyer since NGC grades lighter vs. PCGS, in my view only.

sinin1

eBay isn't considered retail by most people


its a garbage dump, with nice stuff buried in the crap