Possible Flipping of a coin

1943 S Jefferson Nickel(NOT PURCHASED)

LCS Price-$8
in 2x2 with estimated grade of MS 65


Values
CDN Greysheet-15 Dollars
Red Book -20 Dollars
PCGS CoinFacts-$30
NGC-$20


True Apporximate value-$21

Agree, Disagree?
Polite comments and feedback requested

 

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Recent ebay sold items show PCGS/NGC graded MS65s selling for less than $20 on average.

 

The LCS price is average for a raw UNC Silver War Nickel. To get the $20, the coin would need to either be certified (which would cost you more than $20 and would thus not be worth it) or be a very eye appealing example (i.e. colorfully toned, prooflike, or blazing luster).

 

Estimated grade of MS-65 means nothing.
You can get the coin and it could be a 63 or an AU-58.
Let's see some photos.
Love the war nickels.

 

I don't own it
Still at the LCS
Thats why I said Not purchased

 

Lets see. It's an $8 coin and you need help?
If you can't grade it in hand, don't buy it.

 

It's all in the "in 2x2 with estimated grade of MS 65"

depends if it's close to a MS65 or not. Use pcgs.com/coingrade program to compare to see if you think it is a 65 or not.

If it is, then $8 is a good deal.

 

I disagree with your approximate value and so does the owner of the LCS. Why would he be selling a coin at a fraction of its value, and how long would he stay in business if he did this regularly? The war nickels can be fairly easily found with nice pastel toning in the old capital plastics holders in the $60-75 range for the entire run. I paid $120 for a set recently because they were ALL stunners with nice toning and dripping with luster. They are destined for my Dansco.

 

I think the give away here is the “estimated grade” in his listing. If I sell a car I always show the good side first and that’s rather the vibe I get here. Jefferson’s are something of a hard sell anyway. I think it may be a reasonable gamble if your intent is to flip the piece. I rather don’t think you will get the return you hope for. And you will have a lot of effort invested for a very minimal return.

 

Imma buy the coin just for the hecks of it. Then i'll post a picture

 

This is somewhat of a dilemma for me also, I have coins that are not worth much, that I purchased for less than what they are selling for now, but WHERE do you sell such items. E-bay fees would eat up any profit.

 

Craigslist ?
lol

That's the problem. SOLD Auctions are the amount before fees are tacked on thus lowering the actual total revenue.

You have to sell to the collector, as selling to a middlemen is just going to lose your total revenue. Otherwise Hope for a bidding auction war ...

 

Disagree.

1. The price guides are inflated.
2. To get PCGS/NGC prices it needs to be in PCGS/NGC plastic.
3. 8-12 is probably full retail for a coin depending on whether it really is a gem, eye appeal, etc.

 

If you're looking to buy the coin for the sole purpose of flipping it, don't. It wouldn't be worth the time or effort required.

If you're looking to buy the coin because you like it, then buy it. We're talking about $8, so there is no potential bankruptcy-inducing loss at risk here, and that's even if you are a newspaper boy.

 

It is very hard to make money in this hobby unless you are experienced and know what you're doing. There are no shortcuts unfortunately.

 

I dont have a nice war nickel example and so I'm going to buy it for my type set

 

Perfect reason to buy ANY coin! Enjoy it, and update with pics.

 

@CoinBlazer Like these guys said, making money flipping coins is difficult. You need to have a high level of specialized knowledge (grading, varieties, etc). Basically, you're betting that you know more than dealer about the coin. I'm not trying to be rude, but if you have to ask on a forum like CT, you probably don't have the requisite experience yet.

 

no offense taken. Just a thought that rolled through my head while browsing his inventory

 

I just read on a facebook forum from some more newbie flippers. They're losing a bunch of money trying to buy a coin from one site, and sell it in facebook. Of course, they're learning to now set reserves, of which then it may not sell and it will stay in their inventory.

A few years ago when some of the FB stuff started taking off, I took advantage of it becz I saw coins selling for much less than on eBay. So I snatched up some things that I liked. Of course, I think I overpaid for some other stuff too .. so ...

It all comes down to your purchase price (ever notice how dealers here say a coin is worth much less versus someone giving a general value guidance); and how much the buyer wants it - especially in a heated auction environment.

The more you know about the market for a particular coin, your purchase price, and your overhead costs, the better off you will be. You'll also have to track when the better times are to sell it (like the day after christmas isn't a good time; although several weeks after when ppl are trying to get something that they really wanted may be a good time).

I have some stuff I bought years ago that I'm thinking of selling, but some I overpaid, others I underpaid, and others were about right. Of course since then some of it's valuation has gone up, others gone down. So some I would make money on, to breakeven to actually losing money. Oh well ...