Have any of you made a market for a coin ...
ctf_error_coins
Posts: 15,433 ✭✭✭✭✭
.... and how has that worked out for you?
I know of many candidates in my field and was wondering if that might be a good idea.
I know of many candidates in my field and was wondering if that might be a good idea.
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Creating a market = one creates and promotes a two-way market where the promoter sets and stands behind a buy& sell price for said issue.
Well managed promotion = the next step down where one drums up intrest and sets the price points with limited buy back promises.
I have seen less of creating markets than niches pushed and established by promotions. I have personally influenced prices and intrest in some things but have never come close to doing either of those on a professional level. I would think only a well capitalized dealer could truly create a market without pritisapation from his peers.
If you are simply talking about building up inventory and marketing I would say the numbers will mean the difference between wholeselling and moving at them retail. You build up price point will need to take into account advertising that expands your normal buyer base if you want to move abnormal quantity. Lucky the ROI in speclist hobby periodicals is quite high.
There's a token with a certain slogan I started posting when I got here.
At the time I could buy Choice to Gem examples for roughly $100...
In the last few years they have become uber popular and sell pretty rapidly for $500-800.
One being the 1928-S Inverted MM 25c
<< <i>I have alway been under the impression that
Creating a market = one creates and promotes a two-way market where the promoter sets and stands behind a buy& sell price for said issue.
Well managed promotion = the next step down where one drums up intrest and sets the price points with limited buy back promises.
>>
I was not talking about promoting or hyping a coin, but that would be a good idea if one decided to start SLOWLY selling a hoard of coins.
What I was referring to was very narrow markets with not many known examples ... such as ... the guy who is / was hoarding most of the sac 2000 mules ...
I do not have the capital to do such a bold move, but there are some error types and or dates that I think I could make a market in. Say buy all one one date / type of error up to a certain price point and at the same time offering a similar date type error at a much higher price.
<< <i>
<< <i>I have alway been under the impression that
Creating a market = one creates and promotes a two-way market where the promoter sets and stands behind a buy& sell price for said issue.
Well managed promotion = the next step down where one drums up intrest and sets the price points with limited buy back promises.
>>
I was not talking about promoting or hyping a coin, but that would be a good idea if one decided to start SLOWLY selling a hoard of coins.
What I was referring to was very narrow markets with not many known examples ... such as ... the guy who is / was hoarding most of the sac 2000 mules ...
I do not have the capital to do such a bold move, but there are some error types and or dates that I think I could make a market in. Say buy all one one date / type of error up to a certain price point and at the same time offering a similar date type error at a much higher price. >>
I know of a couple of collectors who are doing this, but they'd kill me if I ever let anyone know what coin their "hoarding"
But yes, it is absolutely being done as we speak (in secrecy).
<< <i>But yes, it is absolutely being done as we speak (in secrecy). >>
Exactly, you would NOT want to be promoting a coin you are buying.
<< <i>
I know of a couple of collectors who are doing this, but they'd kill me if I ever let anyone know what coin their "hoarding"
But yes, it is absolutely being done as we speak (in secrecy). >>
A huge % of collectors do this with one issue/type. The urge is almost part of the collector gene. The truth is that the rarely sell them and use the "corner the market" idea as justification to hoard and 95% of hoards/collections are lquidated quietly to a dealer later on who may or may not run a promotion.
It is slightly different when a dealer attempts it but only slightly unless they have a plan. The makeup of an outline of a solid plan is the inquiry here.
On top of my big plan, I was just wondering about cornering the market in a few select coins.
<< <i>What I was referring to was very narrow markets with not many known examples ... such as ... the guy who is / was hoarding most of the sac 2000 mules ...
I do not have the capital to do such a bold move, but there are some error types and or dates that I think I could make a market in. Say buy all one one date / type of error up to a certain price point and at the same time offering a similar date type error at a much higher price. >>
My standard answer: I think a lot of people imagine themselves making a killing by hoarding some rare coin and then holding the market hostage as they release them 1 by 1 for huge prices, buy a large luxury yacht and retire at age 41 in the tropics with a young Tahitian girl who wears a bra made of two seashells.
The reality is that most people who do try to hoard pick items that aren't that rare, they buy examples of the coins enthusiastically for a while, then realize that corning the market on some of this stuff is impossible and ridiculous and not that much fun and so they give up, but when they do give up they just unload everything all at once and take a huge bath trying to liquidate 100 of something at one time, which is no longer a hoard but a glut.
You're welcome.
Coin Rarities Online
You're welcome. >>
EAC 6024
That is NOT what I am up to, as I said, I want to make a market, which means I would be selling on the high end and buying on the low end.
<< <i>Q]My standard answer: I think a lot of people imagine themselves making a killing by hoarding some rare coin and then holding the market hostage as they release them 1 by 1 for huge prices, buy a large luxury yacht and retire at age 41 in the tropics with a young Tahitian girl who wears a bra made of two seashells.
You're welcome. >>
Works for me.
<< <i>I think about it until I do the math, then the whole plan flops on its head. >>
Where does really good coin photography fit into your math equation?