What's the longest you've ever had any one coin up for sale?
coin22lover
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What's the longest you've ever had any one coin actively up for sale, whether you've already sold it or still have it?
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Can you add an option for those of us that don't sell coins so that we can see the results of your poll? >>
Yes, I can
When I was closing my business I had a couple Civil War tokens that sat in my book for more than 5 years. There wasn't anything wrong with them; they just common varieites and no one ever picked them. I eventually sold them via an auction and actually made a couple of bucks because the market for common CWTs had advanced after I bought them.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Any businessman that holds inventory for more than five years is not a very good businessman. >>
Sometimes coin dealers will intentionally hold a coin for far longer than 5 years.
<< <i>Any businessman that holds inventory for more than five years is not a very good businessman. >>
I have often wondered about this. Does it make more sense to price a coin at high retail and make a 300% profit while waiting 5 years to sell it, or, does it make more sense to sell quickly and make 20% profit......when finding inventory at the right price is such a challenge these days.
To me, that means that you are posting/advertising/talking/showing the coin for sale. If not daily/weekly, then at least monthly, or so.
Having a coin that you are wanting/willing to sell, but not doing any sort of promotion of it, is not "actively" selling, to me.
For me, as a flipper/collector, it's less than 3 months.
I've had a few things that I am willing to sell, but I usually don't even mention them....unless/until I see someone's BST asking for the same thing.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>
<< <i>Any businessman that holds inventory for more than five years is not a very good businessman. >>
I have often wondered about this. Does it make more sense to price a coin at high retail and make a 300% profit while waiting 5 years to sell it, or, does it make more sense to sell quickly and make 20% profit......when finding inventory at the right price is such a challenge these days. >>
At a 300% profit, he may be buried with it. Of course, if he ripped it from the proverbial widow who was selling her late husband's collection, he may be able to immediately flip it to another dealer for a 300% profit.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>
<< <i>Any businessman that holds inventory for more than five years is not a very good businessman. >>
I have often wondered about this. Does it make more sense to price a coin at high retail and make a 300% profit while waiting 5 years to sell it, or, does it make more sense to sell quickly and make 20% profit......when finding inventory at the right price is such a challenge these days. >>
At a 300% profit, he may be buried with it. Of course, if he ripped it from the proverbial widow who was selling her late husband's collection, he may be able to immediately flip it to another dealer for a 300% profit. >>
I don't know, I have this theory that working on a 300% profit margin would be possible operating exclusively online, while staying entirely honest on the buy and sell. Looking for deals and steals, varieties, etc.. and then being willing to sit on your coins for 3-5 years...thoughts?
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>For those who picked "more than 5 years", did it ever occur to you that you may be asking too much for your coins? >>
EAC 6024
<< <i>For those who picked "more than 5 years", did it ever occur to you that you may be asking too much for your coins? >>
Sometimes when something is sitting in a book with four to five hundred other similar items, it can get lost in the shuffle. When I was dealing in Civil War tokens, I would have at least 350 pieces in stock all the time. During the year I'd buy six or severn hundred more. The overall turnover was pretty decent, but there are a number of varieties with a libery head on the obverse and a wreath on the reverse that pretty much look the same. That's how things get lost in the shuffle.
I know one dealer who brags that he prices a piece once and then never changes the price until it sells. That's nice, but he often has pieces in stock that he's had for at least four years because they are over priced. After a while the market catches up, and he sells it. Of given the state of the current market his inventory turnover time might be a lot longer.