I'm not asking for links but I am wondering, how does one go about buying whole sale? Or, get wholesale prices? Here's an example of why I ask this, I paid about $600 for an MS 63 1885-cc Morgan dollar. That's almost exactly how much the Grey sheet has it listed at. Unless I wait 10 years, I really won't make money money on it. So, that begs the question. Wholesale.. Do I just have to hope and wait for someone who doesn't know how to value a coin to put up an auction on ebay? Just curious.
I think it is more how you build a network as a dealer. Many dealers wholesale out generic coins that don't fit thier inventory. There are companies that deal mostly with low end graded coins in bulk that did not fit other dealers quality control for eye appeal etc... It would be very difficult to sit and stare at thousands of aucitons looking for 1 or 2 deals. It's all about who you know.
Sure will. I posted the commemorative 09 lincoln in the "An Update on My..." thread since that's the only coin i have so far.
That would presume that you know how to value coins, and please don't take this the wrong way, but you don't.
p.s. the closest you'll get to wholesale prices are in auctions, but even then it's a crapshoot depending on who you're going up against.
I think for starters you need to purchase in bulk the more you spend the better the discount. I think there's three levels or types of dealers the bulk authorized dealers that buy directly from the Mint for both coins and bullion at discounted prices but large $ volume, then there's your BM corner shop that also buys in bulk but much smaller volume at wholesale prices from the mint authorized dealers and lastly your small time or virtual dealer who buys a few items here and there at slighlty less than full retail from the BM shops who then sell online or some other method at the higher end retail prices. I know it sounds like a bunch of mumbo jumbo but in a nutshell you need to be able to buy in bulk and build a relationship with a dealer you trust.
Its not easy to find wholesale, dealer to dealer sales I guess. Maybe APMEX, or other similar places, sight unseen. If finding wholesale coins was easy everyone would be a coin dealer.
Or what the reserve is set for. You could also be going against the owner as that is allowed in most auctions.
