Ask A 19 Year Old Coin Dealer Anything
Owen1793
Posts: 368 ✭✭✭✭
Hello everyone. A lot of you guys might recognize me from the last post I created, touching on the fact that coin collecting is a thriving hobby.
I think there's a serious disconnection between the older and younger people of this hobby, and often times there's little to no communication between the different generations of coin collectors/dealers. When I tell older dealers and collectors that I'm a dealer they often have tons of questions for me, and it's always a fun and insightful conversation for both of us. So today I decided to make this thread, ask me anything.
I graduated HS last year and since then my primary occupation has been buying and selling US coins. I'm a legitimate business with hundreds of customers & thousands of completed transactions.
P.S. I'm not responding to forum trolls.
Comments
How does it feel to get rolls of uncirculated half dollars for nothing?
@basetsb_coins on Instagram
Do you have a website?
Hi, and welcome!
What is the level or degree of buying interest you experience for lower grades pre 1836 coins, versus mid grade 1837-1908 coins, vs high grade post 1909 coins? Excluding proofs and not bullion? Thanks
Liberty: Parent of Science & Industry
Haha it isn't quite nothing - but it feels fantastic.
I don't. But I really should. Its just something I've been putting off for too long, I've gotten too comfortable with my current set up. I do have a big presence on social media which acts as a website for me. I own the largest coin dealer Instagram. You can view by googling "@pa_coins Instagram". You don't need an account to see it.
I'll HTML you up a website pronto
-Sean
@basetsb_coins on Instagram
I really love early coins (pre 1836). But its hard for me to find them at wholesale or "profitable" prices. Almost the same story for the mid grade 1837-1908 coins. I do a very large majority of my business in post 1909 issues. I find these to be the most profitable by percentage, and I do genuinely enjoy the coins.
2014, but very lightly. I got serious in 2016.
I have the second largest customer base, behind yours. You opened your instagram up to the public before I did, and I still have mine private because I have people from Egypt and Syria and Afghanistan try and follow me for no good reason who will never buy anything from me. I have a strictly USA, UK, Western Europe, and US Military Bases abroad customer base. If I opened mine up to the public then I would have an exponential amount more followers, which I do not necessarily care about. I like screening the people who try to follow my page.
-Sean, @Boyernumismatics on IG
@basetsb_coins on Instagram
"If"
I should restate to say, "I never will open mine up publicly so I can screen my follower base to only legitimately interested people."
@basetsb_coins on Instagram
Does your SO go with you to shows ? And do they like it ?
She doesn't. Typically too busy with school. But she lets me talk her ears off about coins, And doesn't mind
Marry her. You wont find another... lol
My first wife hated my coin collecting, saw it as a waste. Told her its better than spending money on strippers, escorts or drugs... the second wife tolerates it but still doesnt love it.
Welcome and good luck in your endeavor
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Oh yeah, a question...what year was the 1652 Pine Tree shilling produced?
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
all the best and welcome.
What is you favorite series of coins young man?
I started in 1967 when I was 14. If you believe there is a disconnection between you and older collectors, the best advice I can give you is to listen, research, study, and focus. Hone your skills. Knowledge is power.
I learned a lot from others. I always listened and applied that knowledge. I researched things I heard.
The ones who disregard you because of your age may just be implying that there is a lot to learn, and that takes time.
Keep it up and believe in yourself.
You'll be OK.
Pete
Although dated 1652 it's hard to narrow it down to one year, at least that's what I've learned. Most of the ones I see are made in China around a couple years ago.
It would be a lot easier to list the series I don't like
but some at the top of my favorites list are early copper and colonials. Unfortunately I don't collect right now because I would hate to pull all the best coins away from my customers and keep them for myself. But early copper, as well as colonials are very fascinating to me.
Do you have a website? What is your eBay ID? How can we see your inventory?
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
I'm an active follower of your Instagram store. Why don't you add more Peace Dollars in your inventory?
Last coin show I went to had a table run by a couple of younger guys(probably early-mid 20's, I'm 32 for the record). I got a real bad taste in my mouth from them, arrogant vibe and coins priced nearly 2X PCGS price guide. Needless to say I did not make any offer and walked away after looking at the 2nd coin(after waiting about 10 minutes to do so). Don't be like those guys. I'll check out your IG, I forgot to do that after seeing your other thread on here.
The two coins? One was a 1908 no motto $20 PCGS 65 wanting $3800 and the other was a 1927-S $1 PCGS 64 w/cac priced at $2800, not particularly attractive for a 64 either.
Collector, occasional seller
I do not thing that there is a disconnection between younger and older collectors. What is Instagram?
Yes I click on your link and see nothing. How you gonna sell if you can't be found?
No. My eBay ID is Owe_Seymo. Lately I've been orientated largely toward wholesale, my wholesale is done via email listings. Some of my inventory both available and sold can be viewed on my Instagram @pa_coins.
Forgot to ask a question. Without a physical shop, does most of your inventory come from ebay picks? Local ads?
Collector, occasional seller
From personal experience I find peace dollars to have pretty tight profit margins and tend to move slow.
Haha I've been on Instagram for about 3 years now I guess.
What guide or self styled pricing tool do you use_ buying_ PQ type coins in NGC or PCGS non CAC holders? Assume a 1875 CC 20 cent piece in an NGC holder F-15.
Thanks
Exactly. Instagram is a social media app. Users post photos and can choose to follow other users. The posts from the people they follow appear on the app in a chronological order.
Mostly shows and shops. I travel all over PA and surrounding States to buy inventory. Some eBay picks as well when I'm bored.
It sounds like you concentrate on old US coins.
Do you have much knowledge base for world/ tokens/ medals/ moderns?
Any customers?
I really appreciate your kind words & advice, thank you!
Auction records & experience. It takes a little more time to analyze auction records but in my opinion you get a much more accurate feel for the coins value.
Owen - I envy you for having the guts, and the finances, to become a coin dealer so early in life, and to be successful at it! I did read your initial post, about your affiliation with the Hipps family and Steve Feltner (PCGS Grader). Would love to know more about your story: how you got started, how much your initial investment was, where you got/get your funding from, and how long it took you to realize that you could make a living doing this. It's always been a pipe dream of mine to do what you're doing (distant pipe dream, as are many other things - but I always thought it would be cool), but it takes a special breed to actually jump into the waters.....and a certain amount of $$$$ that I'm guessing I don't have! I congratulate you on following your dream, and making this work!!!
Rocking my "shiny-object-syndrome"!!!
I actually do mostly 1909-1970. I don't do anything in world/tokens/medals. Some moderns though.
@OwenSeymour Auction records & experience. It takes a little more time to analyze auction records but in my opinion you get a much more accurate feel for the coins value.
Do you take the highest and lowest auction sale and split or take the lowest auction record only and go down from there, or something else?
Many schools have scholastic chess programs, heavily subsidized by individuals and supported by the local school systems. What would it take to have numismatic programs as well as other subjects that have real world significance incorporated into the K-12 teaching?
Once you open an Instagram account and start following coin related accounts you will be shocked how fast you get a following. I recently started a thread about Instagram because I believe there is a disconnect between older and younger collectors. I think social media sites like Instagram could bridge that gap some.
As an older guy, I don't think an Instagram account is what I want to do. Shocked, I tell you, shocked!
With no shop and website, and with no employees, I would think he would have an advantage over dealers that have that overhead. True the expense of travel to buy coins is there, they do not walk in the door... He can pay more for good coins and still make a margin. Lots of crack outs as well helps.. With the technology he uses, sounds like an ok business model. I wish you much success!
is there one series that's hot right now, and do you find that your younger customers prefer a specific grading company over the other?
eBay ID-bruceshort978
Successful BST:here and ATS, bumanchu, wdrob, hashtag, KeeNoooo, mikej61, Yonico, Meltdown, BAJJERFAN, Excaliber, lordmarcovan, cucamongacoin, robkool, bradyc, tonedcointrader, mumu, Windycity, astrotrain, tizofthe, overdate, rwyarmch, mkman123, Timbuk3,GBurger717, airplanenut, coinkid855 ,illini420, michaeldixon, Weiss, Morpheus, Deepcoin, Collectorcoins, AUandAG, D.Schwager.
You said ask anything, so here goes. Whats your yearly profit estimate? I do ebay sales as a part time job, but ebay and paypal are sucking up all my profits. I've never heard of selling on Instagram.. interesting. Also, do you ever sell gold? That's mainly what I deal with.
What do the young collectors think of Walkers? Do they like them?
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/