Options
Weekend Poll: What do you think of coin speculators?
RYK
Posts: 35,800 ✭✭✭✭✭
There is a bit of flame thread going on at the BST boards: Flame thread.
It involves a speculator who purchased a coin from a reputable dealer with the intention of turning it for a profit. He has cancelled two "No Reserve" ebay auctions in the final minutes, has blocked certain bidders in those auctions, and has conceded that he does not really care about coins, just the profit he can make from them.
It involves a speculator who purchased a coin from a reputable dealer with the intention of turning it for a profit. He has cancelled two "No Reserve" ebay auctions in the final minutes, has blocked certain bidders in those auctions, and has conceded that he does not really care about coins, just the profit he can make from them.
0
Comments
Time is the only consideration on turn-around time. I voted good on both and perhaps because of as Russ put it, the entertainment value!
NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!
WORK HARDER!!!!
Millions on WELFARE depend on you!
In my mind, a dealer is a source for information, not just product. A speculator just wants to bang a buck out of the coin. The collector-dealer relationship can be very valuable when assembling a collection. There is no meaningful relationship with the pure speculator.
Sorry, but this poll is invalidated by the doofus factor of the example chosen.
Russ, NCNE
Russ, you are correct, and as I ponder the issue further, I think of YOU.
I know that you are, to some degree, a speculator, buying coins at the flea market and selling them on ebay, presumably for a profit. And others do the same. But I also know that you are an avid collector, a fair person to deal with (here and on ebay), helpful to other collectors on these boards, and that you have a passion for coins. So maybe you are, perhaps, 10% speculator and 90% collector. Perhaps the percentages are not precise, but my guess is that I am in the ballpark.
Our friend selling the coin is clearly only motivated by greed. Whether it is a coin or a speculative stock (like the one he namedropped in the thread), all he seems to care about is money. And Brittany Spears, of course!
Since you put it that way, I'd have to say yes, speculators are good for the hobby.
On a serious note. Honest speculators are indeed good as they provide an additonal layer of liquidity.
Russ, NCNE
WNC Coins, LLC
1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
This old world takes all kinds to keep it interesting. If everyone was just as we wanted them to be, it would
be pretty boring.
I'm sure some out there will flame me for that, but that's my opinion.
<< <i>Sorry, but this poll is invalidated by the doofus factor of the example chosen. >>
Agreed!!!
<< <i>Our friend selling the coin is clearly only motivated by greed. Whether it is a coin or a speculative stock (like the one he namedropped in the thread), all he seems to care about is money. And Brittany Spears, of course! >>
I read some of this and while this may be true how bout most dealers and collectors. Sure there are some decent dealers on this board and off, and collectors as well. But just because they are decent doesn't mean the bottom line is not greed or about the money.
How about everybody and their brother submitting crack-outs for upgrade and profit? At the shows most dealers are only concerned whether a coin will cross or upgrade. Is this greed, or just business?
I see collectors and dealers on this board held in high regard and all they are concerned about is crossovers and upgrades for profit. Are we not condemning them because they are part of the clique here?
I see what you call "Greed" on this board all the time. But I guess it's OK for members to be greedy, but if it's an outsider lets hang them. Hey, I'm just saying it like I see it, you asked so I gave my usual un- popular honest answer.
<< <i>But I guess it's OK for members to be greedy >>
Damn straight! I'm greedy as hell. I want ALL the high grade Accented Hairs and ALL the deep cameo SMS coins.
Greed is good...
...Gordon Gekko
Russ, NCNE
<< <i>that Russ guy bought the famous "Flea Market Morgan" and got greedy and sold it for I'm sure was a huge profit. >>
Now, how can I be greedy when I sold a coin graded MS65 that was later upgraded to MS66*?
Russ, NCNE
having said that coins like that don't belong on the BST, cleo clown boy
is wasting space and time, if he wants to list on ebay and continuely pull it before
end, hes the idiot wasting his money and ebays space.
But posting his stuff here and not even planning to sell it here is a giant WASTE
Go BIG or GO HOME. ©Bill
<< <i>Now, how can I be greedy when I sold a coin graded MS65 that was later upgraded to MS66*? >>
Heh, I never said you were greedy. Yeah the "story" was it got conserved than upgraded to 66*. And the person/dealer/member admitted greed. Then what was it graded? MS64
Edit, yeah I guess I did say you got greedy. But I didn't really mean it in the true sense of greed. Just in fun.