I was just catching up on my youtube channel subscriptions and watching one of the couple channels that I like watching (blueridgesilverhound) and he was talking about trying to put together a type set and he was schooling us on how to make money flipping silver halves. I don't deal in silver halves but it was very informative and also the idea behind it very useful (to me at least). The other day I was witness to an individual on this forum who was extremely upset with the path that he felt the younger generation was taking in regards to coins. Although I feel he went about it wrong, he had some very valid points. I bring up both of these points because I'm wondering, personally, what is the happy medium where a new collector (no matter their age) should focus on the pure knowledge side of this hobby and also the flipping side to be able to grow their collection. I coin roll hunt different denominations, mostly cents, but I am looking to make a little profit so I can start my own collection. ALONG THE WAY, I am also taking the time to learn what I'm looking for and understand I need more knowledge from others on here and in my coin club. Is it totally wrong for someone to want to just flip for profit? If they are looking for that margin, are they really destroying the hobby? I mean they have to know what they're looking for so they've gained some knowledge along the way. What are your thoughts? I think if we really take a good hard long look at it all, we can learn from each other. Flipper or ANA library brain child.
Gotta learn to crawl before you can walk. Time and again, I've seen people come to these boards, with their only interest being making money. Wet behind the ears types too. Sit a spell and learn. In the long run, the knowledge gathered will make you a better seller (when the time comes).
You know, I'm extremely grateful to everyone on here who has had patience with me in the past and offered suggestions, (especially to find a local coin club). That would be my number one advice to other newbies. Listen, observe and join in. Don't get discouraged. You know I've sold a MINOR amount of CRH finds on ebay so far and all along the way I've learned. I don't think flipping is a bad thing, IF you learn. If you don't I don't think you'll be flipping long, you'll be eating, lol. Green said it well there when he said sit a spell and learn.
Is that the kid on this forum last year going to banks and claiming to get multiple rolls of silver halfs that drove a beat up Mercedes? What happened to him.
Like most things in life, you can choose to stay in experiential (real life) or you can choose to stay in the theoretical (reading about real life) - or you can find a mix that works for you. It's a spectrum. I think both are valid and both teach similar/different skills that are helpful to making a well-rounded collector/historian/businessperson. I have flipped on many occasions to fund the coins I hold on to (sort of my collection), but it's by no means the only thing I'm after. Being conscious of costs/margins/opportunities is generally a good thing, no? I think like everything...it will be what you make of it on an individual level, as will your opinion of "your" side and "the other" side of any issue.
You need some knowledge to know what to flip. The more knowledge you have, the more opportunities you'll find. The less you know, the more likely you'll get stuck holding a clunker. Just an FYI. I enjoy sharing what I've learned over the years with new collectors and others on this forum. However, I will not knowingly share anythng with someone just trying to make a buck. If You want to make money flipping, you do the research. Nothing personal, but I feel that if you want MY knowledge to make a profit, then I should benefit from that profit
I'm not sure who you're referring to, however I watched his channel for a while and he has not been on in a while. If you think I am him, (like getting carded for booze or cigarettes), I appreciate it but I am 36, lol.
That's honestly a decision everyone needs to make on their own. Obviously someone needs knowledge to be successful, but there is also a learning curve to it unless we are just talking about the most obvious of flips. You can learn by doing and even if it's not overly successful at first there is value to that as well. It's not wrong nor is it destroying the hobby. In that instance a service is being provided and products made available which is really what the majority of retail is. Some of them also get it graded first which also provides a service in the process.
I'm good with those that only flip as long as they have the knowledge to be sure of what they are selling. They need to be really sure of what they are saying about the coin. That's the honest way no matter what you are selling.
Raising my children, I always told them not to focus on getting the good grades at school. Instead I taught them that if they focused on learning well, the grades would come as a by-product of doing so. Focusing on flipping at the expense of learning is the surest way to abbreviate your flipping career. Learn about the coins first, and your hobby will pay you back many times over.
Apparently, he's moved on to bigger and better things in his never ending quest for attention.... https://m.youtube.com/user/DavidJensen66
My older brother used to have problem getting into bars, he would get carded and no one would believe he was over 21 even though his ID said he was. He was 33 at the time. I on the other hand could pass for being in my mid 30's when I was 16. Of course that can have it's own problems. On at least four occasions I was reported to the cops for possible child molestation. I looked like I was in my 40's and my girlfriend could pass for 14. We were both 21 at the time. I don't know how many people thought she was my daughter or even granddaughter.
I love bidding on a coin on ebay, as I am doing now, where the seller has it identified wrong and it seems to be a rather valuable coin. So I think I am smart and stop bidding, so as to not jack up the price, and meanwhile lay a killer snipe in the bushes. All the time thinking I am going to get some really great deal. Often times I end up paying too much, and don't feel bad about it at all. It is not like I am blowing the rent or grocery money, it is all for fun.
