Dealers that deal in both US and World coins....

Bochiman

Is one side easier than the other? More profitable?



I don't do darkside coins (have a few but those were given to us and none are slabbed/collectable...as far as I know) but I have heard people on the boards talk about leaving US coins and going darkside due to costs.



So, when I got a NEWPS list this morning of combined US/Darkside material being offered, I just started wondering if perhaps darkside material may be more profitable or fluid in some areas that US coins?



I can't imagine, based on the very tiny base of knowledge I have on darkside (local shows only have a few dealers with darkside material, even when they are the bigger shows), that the audience here in the US is as large as for US coinage. So, I would imagine a dealer has a much smaller audience to buy from/sell to, unless they reach out globally.





Just had me wondering if dealers that deal in both find darkside material to be as, or more, profitable....?

jcping

If you have good knowledge on foreign coins (at least for a few countries), you should be able to make money in large size US coin shows and very likely, it is easier than making money then buying/selling US coins in today's market. Of course, you need to have connections to sell many of your cherrypicks oversea. In other words, I believe it is easy to make more $$$ with foreign coin numismatic knowledge to buy better foreign coins in the US and sell them in oversea market now.

Just my two cents.

Jinx86

My best margins are on world coins. Mostly because locally they are hard to move, but take a strong online presence to sell.
And as stated above for the really good stuff you almost need an overseas representative or buyer.

I've bought 2 Birds over Junk Chinese Dollars in 3 years from dealer scrap lots. It's all what you know.

coinhack

I have sold both and I have definitely made more money with world coins. As you noted, it seems like more collectors are adding world coins to their collections and the number of dealers selling world has also increased. When I first started selling a few world coins about 15 years ago there was little competition. Most coin dealers were willing to wholesale anything that wasn't U.S. Not so much any more. Now dealers who would have "dumped" their world coins to me just to get rid of them are now my competition.

I noticed this trend of increasing dealers at the just completed Anaheim ANA World's Fair of Money Show. There have always been world dealers at this show and just like other ANA shows, several were from Europe. I never kept close count at past ANA shows but in walking the show looking for coins it seemed like less than 25% of the dealers specialized in world and 75% in U.S. In fact, that 25% might have been world and ancient dealers combined. This last show had way more than that and they weren't grouped together like I remember from other shows. They were everywhere and it seemed like nearly half the booths had some or all world coins.

I didn't know if that was just my perception because I was looking for these coins or if there were really that many more world dealers so I looked up the dealer list on the ANA WFoM directory and found that by category there were 73 dealers listed under United States Coins and 83 dealers listed under World Coins. So it does look like you are on to something of a trend.

mustangmanbob

One of the BEST DEALS I got was from a dealer who was getting out of World Coins.



He was set up somewhat in the corner at a relatively large show, and his tables front the aisle, except 2 that wrapped around to a dead end.



I was looking for some oddball coins for Boy Scouts, and started flipping through his books, and he told me everything was 50 % off marked prices, (IIRC) and if I bought a bunch, another 10% off.



This was a few years ago when silver was sky rocketing.



I noticed some big honking silver dollar sized coins, like Dutch Guilders, French Francs, Bahamas, Canada, etc. marked for the pre silver run up prices, and just started pulling all of them out.



After a while he noticed the big pile, looked at them, kink of shrugged, and told me I was getting the deal of the show, and he was honoring the 50% off and the extra 10%, but make sure that I was done, because when I was, the silver coins were effectively going to market price, no discounts. He even help me pick out a few that I was overlooking, and also some that he thought the Boy Scouts would like.



I told him there was a world coin dealer at the show, and would he want him to come over and check his stuff. Definitely Yes was his response. I told the world coin guy, and some of the prices, and he hustled over there. He came back with a pile, and said that even at the "new" prices, there was a lot of bargains, as they were basically priced as type coins, without any regard to rarity, mint marks, condition, etc.

pruebas

It's not the size of the audience, but the aggregate size of the audience's checkbook.



There may be many more collectors of US material here in the US, but a very large percentage of that audience has a tiny checkbook or a checkbook sewn into their pants pocket.



Also there is no "sheet" for world coins. Makes for a larger spread and a more profitable business.

MrEureka

When considering if US or World coins are more profitable, much depends on the business model.

In US coins, your margins can be huge if you're sorting and slabbing top grade moderns. They can be very strong if you're specializing in thinly traded fringe items, like die varieties, errors, tokens, medals, etc, especially if you're a hard working cherrypicker. They can also be very strong if you're a top level upgrader or, even better, coin doctor. (Yes, I know. Boo hiss! Well, boo hoo. I'm just answering the question.)

On the other hand, trading in US "product", i.e., coins that have already been graded, have no chance to upgrade, and are easy to price will mean much small margins, but much higher volume.

As for world coins, most trade more like the "thinly traded fringe items" mentioned above. Which usually means higher margins and lower volume for dealers. And FWIW, it also means more bargains for knowledgable collectors and more "burials" for those who don't do their homework.

Cougar1978

They both have their advantages and disadvantages. Local demand favors US. I do well with World Gold when that market active. A beautiful toned Canadian gem MS 65 10c sold within a few days after acquisition. While it was just a $50 coin I was amazed it went so quick. The 1950 Mexican RR $5 silver Peso is really popular. A really choice MS 64 1934 $100 Lire Vatican gold went fast at a recent show I set up st. The 1910 era Caballito Silver Pesos one of my favorites. A 1931 Mexico $50 Gold Peso graded MS 64 one of my favorites to have had in inventory.

Many collect by their birthday or some anniversary date. So with these folks both US and World in demand. World coins offer excellent value but demand can be slow.

bidask

As a world coin collector I bought this gold aureus raw.

Note the date and what the coin is commemorating.....coincides with destruction of Jewish temple.

Both biblical and historical.

Love this coin.........Rare !

TopographicOceans

My local shop has a small selection of world coins, but one area he refuses to deal in are tokens (civil war, hard times, etc.) and especially Fugio cents which he considers a token.

lordmarcovan

I had that Vespasian Judaea Capta aureus' kid sister in silver!









I think they even used the same dies for some of the denarii and aureii.



I have yet to own an aureus, of course. Any aureus. A Judaea Capta aureus? Dream coin.





As to the topic at hand in the OP, in my limited (small-time) dealing, I've done well with World coins by cherrypicking bulk lots. You can almost get "something for nothing" if you do this long enough and learn enough about the various coins you encounter. Of course it isn't really "something for nothing"- there is much work involved. But it can be done on a shoestring, capital-wise, which is what always made it a preferred game for me.



The margins on US coins in the sort of price ranges I usually deal in are quite thin.



Here is an old eBay guide I wrote about the game, many years ago.



How I Got Two Genuine 1877 Indian Head Cents for Eight Dollars (Or, Cherrypicking World Coins - Even If You Don't Collect Them)

Bochiman

Thanks for the answers, folks.



Kind of what I thought but wasn't sure. I'm not planning to deal, nor go into the darkside, but when I saw the NEWPS and it was, again, at least 50% darkside, it did make me wonder.



Lately, this dealer has had a high % of darkside vs lightside in the NEWPS. They know what they are doing and play at a higher level than I would anyway, so it made me wonder about the margins and ease of selling.

lordmarcovan

Phil Arnold made that gif, back when he was "Darkhorse" here, in the pre-TrueView, pre-PCGS Photo days.

asheland