Have you ever made a big profit on a coin.
A lot of talk about people losing money on coin purchases. I was just curious how many of us ever made a great profit on a coin that you held for a relativity short time.
Comments
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Never.
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Yes-cherrypicking.
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Define big?
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
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Sold a penny for 100 times what I paid for it.
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@privatecoin said:
Define big?Exactly. Percentage? Dollar? Is 25% big? Is $10k big even if it's only 1%?
All comments reflect the opinion of the author, even when irrefutably accurate.
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I have some huge upgrades, but in general those negated other losses at sale time. Funny game all that stuff. It’s more fun just to collect.
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Long ago pre internet when Heritage sent bid sheets in the mail. No buyers premium and no reserve tpgs coins. Low-ball everything but the high dollar coins expecting nothing and being shocked to win one or two per auction. Off to the coin shop and double my money giving him a good deal. Felt bad for the previous owner but learned not to put coins into a no reserve auction. Those days are long gone.
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Overall ahead of the game - save the occasional losers to offset some of the gains.
Gone but not forgotten: IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Ricko, Big Moose, Cardinal, CoinsAreFun.0 -
I did very well on this one. Bought it raw and paid $290. Sold it after getting graded for $1100 or so.
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Yes, also cherrypicking. Multiple times.
“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!1 -
That's what I call big profit. Percentage gains are more relevant to me.
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Two really good ones come to mind. Without giving specifics paid $7 and $30 for coins I sold for $14000 and $22000 respectively.
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Only one time, many years ago. A clad dime from a mint set that I sent to PCGS myself. I don't remember the grade but it was maybe 64 or 65.... It had attractive toning and went for extremely stupid money on eBay.
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If I answer do I have to pay taxes on my gains? If I do have to pay then I have never made money on a sale!
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$35 for a raw Roosie on eBay. Slabbed then sold for $8000. $40 for a raw wash quarter on eBay. Slabbed then sold for $4000. Bought an album of raw Roosies on eBay for $350. slabbed half a dozen then sold one for $5000. Bought a board of complete war nickels for $800 on eBay. After slabbing sold them off for over $5K. I can keep going on but I will have to qualify that all these purchases were 15-20 years ago. Now I buy a raw Roosie on eBay for $50 then I spend it. I've done that at least 20 times.
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Two really good ones come to mind. Without giving specifics paid $7 and $30 for coins I sold for $14000 and $22000 respectively.
On a percentage basis, can't even come close!
Gone but not forgotten: IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Ricko, Big Moose, Cardinal, CoinsAreFun.5 -
Wowza! Some grand slams. Well done - assuming you paid your taxes, donated a bit to charity, and told your wife. (smile)
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Years ago, many times. Recently, no.
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In well over 50 years of collecting I can't say for sure that I ever made anything on slabbed coins, especially considering the effect of inflation. But absolutely way ahead on gold and silver bullion.
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I am pretty sure I have helped a few others make a profit on a coin.
So far, by not buying the 2019 platinum reverse proof, I made $2000.Now riding the swell in PM's and surf.6 -
I bought a cud error penny for one cent and sold it on eBay for 53.00 and I also bought an easy German 20 mark for 5 dollars that I sold for 145$.
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Just bullion when silver hit $40 and sold (2 out of 3) 07reverse of 08 Silver Eagles...
Need to try to sell some of my actual collection, but can't bring myself to part with them.
AKA Pakasmom
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In 2001 I purchased a 1794 Silver Dollar graded by NGC as MS64 for $400k, and then I sold it in 2005 for $1,150,000 - that's 187.5% profit, nearly triple what I paid. That same coin sold privately in 2017 for $2.75 million.
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OK, you definitely beat my story.
Now riding the swell in PM's and surf.1 -
Many times cherrypicking. I was also got into full step nickels early and I made good money slabbing and selling some of those coins. Some of them came out of rolls bought for close to face value and sold for $200 when slabbed.
Sean Reynolds
Incomplete planchets wanted, especially Lincoln Cents & type coins.
"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'Connor4 -
@Gluggo said:
If I answer do I have to pay taxes on my gains? If I do have to pay then I have never made money on a sale!You have to pay taxes on your gains even if you don't answer!
But don't worry, since you like to buy U.S. Mint products, you've got more than enough losses to write off against the gain.
All comments reflect the opinion of the author, even when irrefutably accurate.
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I recently sold a coin for 5 times what I paid for it less than 3 years ago. I bought it from a Heritage auction. Someone made several offers for it via the make offer to owner program. I did not want to sell it but the offer was too much to turn down.
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Bought a nice early mint state gold ten for 35,000 sold it 3 months later for 63000. Sadly salary pay, no commission. Only move 4 or 5 coins like that a year, not always that kind of margin.
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More than I can count. Saved a bunch of CC dollars from when I was a kid (all heavily worn) when they were a dollar each as they were still in circulation. Just a couple of years ago I had a bunch graded and got several PO 01's. Sold one for a grand and two CC's one of which was an 1885cc. Made bank on those CC's.
Another instance I purchased a group of three silver dollars on ebay. One looked like the 1888-o scarface and looked AU'ish from the pics. Put a $3k bid and ended up getting all three for $870 or so. The Scarface graded MS63 and I sold for $10,005 on GC.
Bought a collection of silver dollars from an estate and paid silver melt. Did not think there would be anything other than slot machine stuff (Vegas here). There were lots of 2x2 and enveloped coins that were pricier that the seller had carefully put away. His being so meticulous is why I never expected to find any good silver dollars. Several thousand were purchased at $8+ each. Results of one of the submissions is below (will post when I get allowed to access my orders page.....locked out for now)
bob
1 1 08573134 7286 1903-O $1 MS64 USA
2 1 08573135 7226 1893-S $1 VF20 USA
3 1 08573136 7228 1894 $1 AU58 USA
4 1 08573137 7232 1894-S $1 AU58 USA
5 1 08573138 7156 1884-S $1 XF45 USA
6 1 08573139 7148 1883-S $1 AU55 USA
7 1 08573140 7131 1881-S $1, PL MS63PL USA
8 1 08573141 7270 1900-S $1 MS62 USA
9 1 08573142 7186 1888-S $1 AU55 USA
10 1 08573143 7356 1921 $1 High Relief, Peace MS64 USARegistry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com4 -
Never sold though could make more , I bought a 1802 large cent for $4 worth around 10 times more, around $40
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Yes but I have also paid handsomely for Items I missed.
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!1 -
@jmlanzaf said:
@Gluggo said:
If I answer do I have to pay taxes on my gains? If I do have to pay then I have never made money on a sale!You have to pay taxes on your gains even if you don't answer!
But don't worry, since you like to buy U.S. Mint products, you've got more than enough losses to write off against the gain.
Thanks!!!!
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I will be very happy if I or my heirs break even or come close to doing so when it’s time to sell. Then I can say I got a lifetime worth of fun essentially for free. I’d call that a nice score.
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@georgiacop50 said:
Two really good ones come to mind. Without giving specifics paid $7 and $30 for coins I sold for $14000 and $22000 respectively.
BOO
Without specifics - at lest their grade or type...LOL. BTW, I paid $33 for a coin and it sold for $89,000.99. Get my point?
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@Gluggo said:
If I answer do I have to pay taxes on my gains? If I do have to pay then I have never made money on a sale!Did you keep a paper trail?
Just kidding, maybe the OP is doing a ride along with the irs.
What is this profit you speak of?
That would require sell something.1 -
Found a 1909-S vdb in a bag of cents from a penny weight scale, and sold it for $275. Probably the best percent wise. (52 years ago though)
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Yes, quite a few times, not because of me, I give thanks to Teletrade and PCGS for the windfalls
Steve
Promote the Hobby1 -
My biggest percentage gain was buying a F12 1909-O on Ebay for $10 and selling it for $90 a few months later. In the early years of Ebay, while coins were a bit hotter, it was easy to break even or to make 10-50% on maybe 1/3 of coin auctions. At least in my experience.
2011-2014 market seemed to change.
2014-2019 all losses, almost every time.Only one coin gain in the last 150 coin sales: 1857-S Seated Half dollar. Made 30%, or about $300. That helps to offset the 15-20K I am down. Yippee.
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No. Since I do not sell coins, no profit. That being said, there are several coins that would realize handsome profits if I were to sell them....No reason to sell though.
Cheers, RickO1 -
No.
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Yes. Finding unattributed varieties in high grades has been extremely profitable at times. 300%-500% profit.
These are usually far and few between and require a niche market of top PCGS Registry competitors.1 -
im with you ricko but difference is I don't have any high end coins to sell. either way not selling but would be interesting to figure out way to flip coins. I am sure people are doing that but I am too much of a novice to attempt.
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I once sold a rusty washer on Ebay for $63: coincd.com/sites/914/sites/09-giving-back/index.html
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No, but one of my coins did. Whoever sold my 1871 finest known dollar after getting it out of the MS-64 rattler and into the MS-66,
:'(0 -
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“$35 for a raw Roosie on eBay. Slabbed then sold for $8000.”
Onlyroosies - You “ripped me off”.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.2 -
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I bought a raw book of Lincolns minus the 4 keys ebay auction from the same seller that had a 1914-d BIN so cheap I thought it may be counterfeit.
I sniped the auction just under my max.
I don't think I will ever get a deal like this again.
The 14D came back 63BN and it paid for itself, the book, shipping, Trueview and grading the 18 coins.
the 11D 12D were AU58 so i didn't send those. 09s 10s 11s 12s 13s 14s 15s all were G/VG
The ones is sent were:
1913-D MS63RB
1915-D MS64RB
1916-D MS64RB
1917-D MS64BR
1918-D MS64RB
1918-S MS63RB
1919-D MS64RB
1920_S MS63RB
1922-D MS64RD
1923-S MS62BR
1924-S MS63RB
1925-D MS65RD 36958197 This is going back in someday. I studied all the 65Rd's before the Coinfacts change and it is one of the best 65's for sure. I think it deserves at least a plus if not 66RD (2 known)
1926-S MS63BR
1927-D MS64RB
1928-S MS64RB
1943-S MS66 DDO FS101Do crypto coins count?? $.04 to $.72 $22 to $1260 there are more but i don't think they count.
http://www.silverstocker.com
Anyone can PM me Any Time about Any thing.2 -
In my younger days, I borrowed $6,000 from my father to purchase a single coin, which was sold 2 weeks later for $28,000.
I used that money for a down payment on my home.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
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