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What percentage of your coin purchases are intended to be flipped?
Moldnut
Posts: 3,113 ✭✭✭✭
About 10% of the time I'm thinking flip, but in reality, it ends up being only 2-4% that actually get moved for some reason or another.
Of course, a dealers percentage should be quite high
Derek
EAC 6024
EAC 6024
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Edit to add that even though I sell on eBay I still consider myself a collector and not a dealer.
that is never my intent
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
World Collection
British Collection
German States Collection
that is never my intent"
Ditto for me as well.
My Ebay Store
<< <i>I'm with Lindedad on this one. Right now just about all of the coins I buy I intend to sell. Mostly because I have stalled in what direction I want my collection to go, and buying for resale has allowed me to learn about many different series and examine examples that I may not have been able to afford to keep for myself. I still consider myself a collector, but right now I have just as much fun buying and selling as I ever did just collecting. >>
Me too.
I'm very uncomfortable with the idea of buying a ton of stuff that I'm unable to get out of without taking a 50% loss... so, getting into the selling side has become mandatory.
But I consider myself very much a collector, and don't really look at it as a way to make money.
In terms of items... I have no problems buying a big group if I see one or two pieces that I like. After I keep those one or two, I'm still leave with a lot. I'd say I'd be happy to flip 95% of what I buy if you count pieces individually.
Why - what do I have that you want??
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
60 years into this hobby and I'm still working on my Lincoln set!
and it sets us apart from practitioners and consultants. Gregor
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>0%. I don't sell coins. That policy makes me a more careful buyer. >>
Actually, buying a coin to resell requires you to be more careful since you could be stuck with something you don't want if you can't flip it for a profit or you may have to sell it for a loss.
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
For 40 years the percentage was zero.
Now that I am older, I am trying to sell much of what I have amassed so I'm setting up as one of those "wannabe" dealers at local shows. It's been a lot of fun learning how the guys on the other side of the table work. Although my intent is to sell, I do get offered material to buy. So now, since I have a ready venue, I am looking to buy and flip from time to time. But even so, I think the percentage is still below 20%.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Once I narrowed my focus to the set, I will buy with the intention of eventual resell, but only if something that I like better is taking its place. So, I'm more of a swapper right now.
<< <i>Almost all are subject to upgrade or sale if the price is right at this time, and I am not adverse to lateral improvements in the look of the coins I collect. Edit to add that even though I sell on eBay I still consider myself a collector and not a dealer. >>
What he said. I am always looking to upgrade if the right deal comes along. I'm also always on the lookout for a good "flip", even for a coin that I already have. Invariably, the gains from the flip are plowed back into something that I'll keep. As for a percentage? It's hard to say, at least for non-moderns. For moderns, it's probably 90%...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
I've had guys send me want lists, and I suppose I could try to fill them, but I'm just not much of a flipper these days.
<< <i>as I get older,seems to be more pleasure in the finding than the keeping >>
Chumlee nailed it for me...I'd guess about 80% of what I buy I intend to flip or sell in the short term. In my pursuit of 1950-70 cameo proofs it's hard to know what you have in the mint packaging until it's cut out and examined closely. I've been able to make some great high-end pieces by buying freely and examining under optimum conditions to see what I have. Of late I've been submitting multiples of the same date, keeping the highest grade one and moving the remainder. It has worked well for me so far.
By quantity - 98%
By value - maybe 5%
I do tend to flip a lot of bottom feeder material and of course funnel those funds into coin purchases.
No Way Out: Stimulus and Money Printing Are the Only Path Left
This is probably the biggest difference between a flipper and dealer.
``https://ebay.us/m/KxolR5
I'm still sitting on a bunch of Buffs i picked up in a bargain bin at deep discount. My initial thought was to flip them on the Bay but I like the series too much to even part with them..
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
<< <i>I buy to re=selll, not to flip.
This is probably the biggest difference between a flipper and dealer. >>
Are you saying a dealer won't flip a coin for a 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 buy to re=selll, not to flip.
This is probably the biggest difference between a flipper and dealer. >>
Are you saying a dealer won't flip a coin for a profit? >>
semantics
<< <i>Are you saying a dealer won't flip a coin for a profit? >>
Nope, that's not what I'm saying. I'll take a loss if I have to, but that's not my intent.
``https://ebay.us/m/KxolR5
<< <i>75% flippers pay for the 25% keepers. >>
This is roughly my goal, but I'm so bad about organizing and selling that in reality it is closer to 25% flipped and 75% kept.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
ZERO!
<< <i>75% flippers pay for the 25% keepers. >>
With keepers like your avatar, I say, "full flip ahead!"
<< <i>99% >>
Spoken like a true coin dealer.
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
Exception would be finding an upgrade, and then selling the undergrade in an appropriate manner,
usually to a fellow collector, or in an auction
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Some day!
Interests:
Pre-Jump Grade Project
Toned Commemoratives
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