A well known dealer is running radio commercials claiming he has
KollectorKing
Posts: 4,820 ✭✭✭✭✭
has bought & sold over $2 Billion in numismatic etc in his career.
I doubt that he deals a lot in buillion.
Is that possible?
4
Comments
Yes.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Yep. Silver Towne does about 1/5th of that every year.
Probably by selling massive amounts dealer to dealer for a finders fee. That would be my guess - being involved in those sales however small financially I guess is still classified as buying/selling maybe?
However careers can be long so it depends? Selling $2bn is also not netting $2bn (or a third of what star wars sold to Disney).
Looking forward to responses here.
With bullion?
I doubt it. His firm deals mainly in “high end” coins etc. He has been mentioned numerous times here.
JA better be buying lunch next time!
$2 billion gross is definitely possible for a high end dealer. But it isn't easy sans bullion.
Imagine a 25 year career. That ends up being $80 million in sales per year. Dealing in coins that are $500 and above. If your average coin sale is $2000, then you need to sell 40,000 coins per year. That's a LOT of high end coins. But possible
If you include bullion and "bullion-like" coins [$20 libs and saints], it's pretty easy. $80 million in sales per year is only about 60,000 $20 gold pieces per year. I'd bet Apmex sells that much in $5, $10, and $20 gold pieces.
Again this dealer in all likelihood does NOT deal in buillion. If he did even DUMMMIE me know $2 billion is possible.
He gave an example of someone getting a quote of $600 from a jeweler for an inherited diamond ring. The seller thought it was kinda low. He went to this well known dealer & received $6K for it.
Seems possible. Everybody knows some of these guys not only have store and show sales but can be big consignors to dealer associates on invoice in the bourse room. It all adds up for them. Super deal for both parties.
I have had say about a dozen or so slabbed $20 DE consigned to me on invoice at shows to sell at my price, buy, and turn back in cash on sold (invoice price) and unsold material at end of show. So nice pickups for me and profit on ones I retailed.
I'm confused. HE deals in jewelry but not "bullion"?
Even Dummy Me understood you when you said he didn't deal in "bullion". But dealing in 65, 66 Saints isn't exactly bullion but would run up your total in a hurry. And if you throw in 63/64 Saints which are kind of bulliony, same thing.
I'm the dummy for reading this "fluff."
perhaps if you named the dealer, you would receive an answer!
STOP SHOUTING
If he buys jewelry, I'm guessing $1.5 billion of his $2 billion is gold scrap/bullion. Most local coin stores do 75% or more of their business in gold/silver scrap.
Sorry you can spend time doing a lil research & find out, instead of reading this fluff.
I tried a couple little searches, but came up with nothing.
Edit: although I did find THIS THREAD! lol.
The OP deserves it. This discussion could have been over long ago yet it keeps cluttering the top of the board!
To me, it's just as some ah...like some ah, ah a new member asking "What is this on my coin?" Of course,
with no image!
It’s been up a couple of hours what’s the rush?
Full disclosure: I used to own this coin. One of my favs. GTG, former & current.
Inquiring minds want to know...
NOW
Could be Bowers. After all, he's 1000 years old, so that's only $2 million per year.
I'll take a guess, VF-20?
It could be Apmex - if you don't count @Acop returns.
I had a good year last year, but it's not me. I only did $200,000 last year. That leaves me only 10,000 years away from crossing the $2 billion threshold...I hope I can keep up the pace.
I’ll buy as many as you have for a coin like that @VF prices
LOL, not only are you stalling to keep this miserable thread alive, now you are fussing at a member who understood your lame attempt at humor and replied in kind.
Who is the dealer? We don't listen to the same radio stations.
Wow I must be in heaven having ONE of many known/ respected numismatic scholars almost “begging” to name name?
I’m curious but only because I’ve never heard a radio ad for a
Coin dealer.
Every coin listed by every dealer on Collector's Corner breaks down as follows:
Coins (all) $158,637,295
Currency $18,094,602
Cards $228,722
Stamps $1,701,046
So added up, that's $178,661,665 total. Sure ...only for the listings on that site.
But.... To get to 2 billion, that would have to be increased 11 times.
Add in the BST and it's still a lot of coins to sell.
Looks like a lot off beer was left over from the holiday weekend.
Two billion buying and selling would be one billion in actual coins (you guys can figure that out).
Divided by 35 years you have $28.5 million per year. Substantial but certainly doable.
I know who it is. I question the reality. BUT I will agree with 1 Billion.
It is massive to sell over $25 million of anything in a year. The physical volume is massive and is time consuming. The profits are maybe 1-2%. I never knew them to have a big staff.
Been doing it for 40 years fully time. handled every major rarity and more $1 million dollar (and $5 million) coins then anyone. Did a $40 million dollar pattern deal in 2008. I am barely at $1 billion. Only the HUGE bullion guys can probably say they did a billion-with most of it coming still from 1980!!!!! Guys like the late Jules Karp, Joel Cohen, Silvertowne, combined easily did $1 billion in 1980 alone! I doubt Dillion Gage or Heritage today does zoo numbers in bullion and they are huge. Maybe A Mark does the biggest numbers but that is it.
Sounds a little more like hype to me
I think he should have just said over 1 billion - it sounds more believable.
Or say “almost a billion” would be more believable.
What's a radio?
Just to set the record straight, said dealer stated he did over $2 billion in his CAREER, not per year.
I just happened to notice that the words billion and bullion are very similar in letters, only separated by a different vowel in the second letter of each word.
Considering the importance and integrity of this thread, I just thought that this was an important point to note for posterity.
I found the seller on google:
Hey that’s me. You have NO permission to post it. You’ll hear from my lawyer ms g. All. soon!
It's Blanchard. If I'm wrong, then prove it.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
From their web-site:
“Founded by one of the most distinguished numismatists and all-around experts in the US rare coin market, Xxxx has been involved in over $2 Billion worth of transactions, many for historically important rarities.”
You must be complimenting my brother. He is away for the weekend and I'm watching the house.
Great guess, but no cigars to you.
May @Insider2 teach you a thing or two.
OK, then it's Tangible Investments. Not sure why the cloak and dagger surrounding revealing their name.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I guess Messy listens to the same radio station. Agree, why the secrecy?
Winnah winnah!!
See my op & answer it if you want.
From their web-site:
“Credentials
Founded by one of the most distinguished numismatists and all-around experts in the US rare coin market, Tangible Investments has been involved in over $2 Billion worth of transactions, many for historically important rarities.
Tangible Investments opened in 1984 when Silvano DiGenova, a rare coin prodigy who single-handedly created the coin grading set used by the Professional Coin Grading Service (PCGS), decided to start his own business. Led by Mr. DiGenova, whose distinguished career has cemented his identity as a rare coin market maker, the buying power of Tangible Investments has resulted in the following landmark purchases.
Co-purchaser, consultant and minority partner of the Trompetor Proof Gold Collection for $15.2 million. This represents the largest RARE COIN private treaty sale in history at the time.
Purchaser of the 1907 Ultra High Relief $20 Gold PR-67 for $1.2 million the highest priced ever realized at public auction for a U.S. gold coin at the time.
Buyer of the Jasper Roberson Collection ... over $1 Million!
Buyer of the Clifford-Kagin San Francisco Mint Collection ... over $2 Million -- and then later resold for $3.1 Million!
Buyer of the Connoisseur Collection ... over $2.5 Million!
Buyer of the 1879 $4 Coiled Hair Stella PR65 & PR66 ... over $1.3 Million!
Buyer of the 1851 Augustus Humbert $50 Choice Proof ... over $600,000!
Buyer of the 1855 Kellogg $50 Choice Proof ... over $400,000!”
They’ve run commercials over several major radio stations in SO. CA.
https://scrapmonster.com/company/tangible-investments-inc/49609
I'm guessing that it was just to aggravate you.
Two Billion dollars is a lot of money!
Since it is Tangible Investments, it is worth noting that the $2 billion includes coins, bullion, antiques, etc. Very believable number. Look at what Heritage sells in a SINGLE YEAR across all categories.