I have a coin I am selling.....

***Please note...not actually selling anything***

This is what happens when you have too much time on your hands. You start thinking about all this crazy stuff. I wanted to get members honest opinions about some questions.

These are real situations that happened. Think about your responses. All that I ask is to be open minded. Don't say this is stupid and I would never do this. This is true, you may never do this yourself, but answer this from the mind of a person who would as well as yourself. This may not be what you collect, but you can substitute any coins that you would like in both examples.

Scenario #1
I purchased a 1880CC Morgan graded MS65 by PCGS for for $1200. It was a super nice Morgan. Great luster, awesome cameo appearance, probably undergraded. I send it off and have it CAC'd. I then flip it for $2200.

Does anyone have a problem with this? Why or why not and be specific.

Scenario #2
I purchased a 2014 gold baseball coin for $440. I have it slabbed for $50. Total investment is $490. It is a great coin. Awesome looking. Great cameo. Grades PCGS PF70DCAM. I flip it for $4000.

Does anyone have a problem with this? Why or why not and be specific.

Whats the difference? Is there any? Let the dance begin.

 

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#1 nope # 2 nope. They only differ by degree. It's what floats your boat, so don't let others dissuade you.

 

No difference, why would anyone have a problem with either example?

 

Scenario 1....what's the problem? I don't think anyone would have a problem with this, UNLESS it was from a member or friend, trying to help you fill a 'hole' in your set, and there were intentions of that coin being yours. If not, as I said, what's the problem? If it isn't needed, I think it's something we'd all consider, and ultimately do.

Scenario 2....see my answer for Scenario #1, though, with something as new as the HOF coins, I don't/can't see it as someone doing you a favor by selling it to you.

Bottom line....noone should have a problem. If YOU didn't do it (purchase the coins), someone else would have, and way more than likely have done the exact same thing (I know I would).....take the Morgan....if it WAS for a 'hole' in your collection, you flip it for an extra grand....you can now buy another '80-CC and have a grand left for another coin. Isn't that one of the top ways (well, THE top way) we try to come up with extra funds to purchase more coins, or to fund an upgrade? Sure beats the hell out of robbing a convenience store...and the store wouldn't even have as much as you could make by flipping the coins in both scenarios. It's how this numismatic world revolves, isn't it???

UNLESS, as I mentioned, it was someone/a friend/buddy/forum friend trying to be gracious and helping you out to fill a hole, I could see that causing friction, but that doesn't sound like it's even part of the equation.

Ask something more difficult to answer!!!

 

No issues either way. You are supplying the demand, and pricing it at the going rate of the commodity.

 

I have no problem with either Scenario. IMO, you are taking advantage of current market conditions. You made smart purchases of two quality coins, took the calculated risk that both coins would grade highly, and then found buyers who were willing to pay premiums for both coins.

Now, could one argue whether the people who bought these coins made smart purchases, but who can blame someone for buying the particular coin they WANT for their collection at a price they are comfortable with?

Just my two cents. I say bravo for increasing your coin budget by a few thousand dollars, and I look forward to seeing what you're able to pick up with that money.

 

No problems with either of them in my book.

Scenario 1: You have developed a good eye for great coins. Made a pick that you felt was in the top of its grade and had it confirmed by CAC. People are will to pay more for coins that have better eye appeal, you just happened to spot one that was being sold for less than what it was worth and flipped it for a price someone was willing to pay for a better coin.

Scenario 2: I feel a little weird about people flipping mint coins for massive profit when it is possible for the buyers to get on and buy their own (not really possible with this since it sold out fast) or for paying massive premiums right when it comes out as opposed to after the price has settled down a bit. However, that is the responsibility of the buyer to know these trends and not pay too much for what they are buying. If someone is willing to pay for it and you haven't used any dirty tricks to make them think it is rarer than it is or otherwise deceive them then no issue here.

The only difference I see is that the first one is more about you being skilled in finding eye appealing coins while the second is more about just knowing when mint products come out, being lucky enough to get it shipped first, and lucky enough to get one that graded 70. In the end they are both business moves, but I would say that I have respect for the person who can do the first while the second I am ambivalent to. Although, I will say for the second one that while I do understand it, and people would do it anyways, I feel that people should not be buying extras just to flip and taking them out of the hands of collectors that genuinely want them who now have to pay much higher prices on the secondary market. Still, that is a personal issue, and seeing as how there is no real way to stop it I don't hold it against people who do, especially since I don't collect these coins.

 

If offered as what they are and without a bunch of fluff and promises, no and no. Both are certified which better allows the buyer, regardless of experience, to make their decision. Now if you swore up and down that the 80-CC was an absolute shoo-in 66 or that the commem was a spectacular investment knowing full well that the buyer didn't know any better, then you and not the coins themselves would be, IMO, somewhat questionable (just an example, of course).

 

No issue with either as I have done both other than I resubmitted the coin for a higher grade. It's the way you make more coin money as I am a collector on a budget and every bit helps.

 

These are some great responses.


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No problem with either scenario as long as the buyer is happy with their purchase. If not and if sold on ebay there is the chance you may be required to accept a return though.

 

Scenario 1 - No problem for the buyer. Lots of risk for the seller though.

Scenario 2 - Foolish impulse decision for buyer. Good investment for seller.

No problems with either of these.

 

I have a problem with #2. Why didn't you get me some of the same?

 

No issues with either transaction unless you "made" the purchaser buy the coin. There is this thing called "free will" and we get to use it on a regular basis. I suspect some might accuse you of taking advantage of a mis-informed buyer because of the HOF coin hype. But, if that $4,000 coin (for whatever reason) suddenly increased to $6,000 no one would have an issue with the original selling price of $4K except you for not waiting longer

 

I see no problem with either scenario. People buy what they like in a free market that determines prices. Glad to hear you would use PCGS instead of NGC with the gold HOF coin as you would definitely want the slab and label to be in perfect shape for the buyer...lol. TC

 

Buy low, sell high - capitalism at it's pinnacle of performance. Next...

 

I have no problem with either situation. You didn't use a gun. They are legit grades. You can't protect someone from their own stupidity.

I have the problem when you mess up your listing. Post a novel on the sight complaining you made a lot of money but missed out on an even bigger score while numerous members still wait for their original mint order

 

I have no issues with either scenario.

It should also be noted that, in my opinion, there is only one way you can change an idiot. Put a "B" in front of him!

Chris

 

I just think they're stupid questions.

 

If that is "the market", ("educated" buyers and sellers of coins), then of course no issues at all. Peddling these on tv for $4000 telling uneducated people they are "bargains", I think that would be slimy. So would cold calling seniors and high pressure selling them coins. But, short of that, whatever the going rate for a coin is, no possible way is it unethical to sell at that. Now, would I pay "market" for high grade common coins, or modern MS70 BS? Hells no, but that is MY CHOICE. If someone wishes to pay $4000 for a coin struck yesterday.......whatever, its their money. I will spend $100 on a coin struck 1500 years ago and truly is rare.