Any interest in a Horse Trading Competition?

Remember the guy who started out with a paper clip and started buying and selling until he bought a house?

Anyone interested in a horse trading competition? It would be based on the honor system and you'd report your results. The object of the competition would be to start with a set amount of your own money (we'll set it at up to $100), and then buy a coin (or more than one coin) with the express purpose of reselling it for a profit. Then use the new (greater) amount of money to buy more stuff and repeat the process. Who can "flip" your way to greatness?

What can you win? Bragging rights...that's all.

There would be few simple rules, like:

1. You must show your progress along the way (we get to see the coins!).
2. You can't "loan yourself money until your coin sells" when you see a bargain while you're waiting for it to sell. You need to sell what you have first and hope that bargain is still there when you have the cash to buy it.
3. You are allowed to add your own funds to stretch for a coin, but no more than 25%. For example, if you have $100 to spend and you see a coin for $120, you can add $20 to your spending money as long as you subtract that $20 back out after you sell.
4. We'd have a leaderboard showing your budget to buy a coin to keep track of who is winning the race. Example, if you take $80 of your $100 budget to buy a coin, and the coin is worth $150, you can not report a "score" of $170 until you actually sell the coin. Then your score would stay on the leaderboard at the current dollar amount until your next buy and sell occurs.
5. Ebay, paypal, and shipping fees must be accounted for.
6. If you want to join this competition late, your initial budget must be equal to the person in last place who is still reasonably active in the competition.

Who's interested in joining? Think you're good at flipping?

 

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It sounds interesting.
One question that came to mind: what if you sell a coin on eBay and then it gets returned after you already bought the replacement?

 

Hmmm... I guess you’d have to just pick one of the coins to proceed with. You in? I think it will be a lot of fun. Hoping to see how others approach the challenge.

 

I'll play...I have a coin arriving this week that I think would be a good start.

 

While I know a lot of people are really bored during this pandemic, I am way too occupied with other things right now, so I wish all that join, "Good Luck."

 

Best wishes to all that have the time to do this.

 

Hey, I buy and sell collectibles to support my collecting interests anyway. This will be fun! (I always make time for having fun).

 

But, but, you call yourself "Coll....never mind

 

This will be my first entry:

 

Sweet! For the record (literally), what did it cost you? You don’t have to divulge your plans but I’m real curious to know what venue you’re going to use to sell it and how much you’re going to ask. I still haven’t picked out anything to buy yet!

 

54 plus 3 shipping for a 57 total cost. What's unique about it is that it's the only Franklin graded AU 55+ at PCGS. Now to most that does not matter, but some find it interesting to have a population 1 coin. The plan is to list it on a few forums and eBay. The goal is to net a reasonable $25-$35. So the price will be slightly different on forums vs eBay (to account for the eBay fees).

 

Diabolical! Hopefully I can give you a run for your money! I’m still shopping. While shopping I did see this though. Thought it was really interesting.

iPhone snapshot of a Bar graph of the price distribution of recent eBay sales.

 

Sounds fun, I'm in.

 

Cool. With 3 amigos, it will be more fun. You’ve got $100 for your first purchase, though you can loan yourself up to an extra 25% for a coin that’s just out of reach.

I’ve been shopping hard in the last 24 hours to play catch-up with Ddddd and this is hard! I’ll probably hit the coin shop this weekend too but my local shop doesn’t miss a thing. Bigger challenge than I realized. Good luck and keep us updated.

 

Something from nothing leaves nothing...

 

Gentlemen, you’re in trouble now. $15 plus tax equals $16.13. Local pawn shop purchase. I have taken a picture of the pawnshop box in case you don’t believe me. I picked through all of them and most were crap but this one was good.


edit: I’ve listed it on a Facebook forum for a $15 profit. I need more breathing room to buy stuff.

 

I'd say take #3 out...its just like loaning yourself more money to leverage your buying opportunities.

No matter as fun as it would be, I dont have the spare time but I'll check back in and see what everyone else found to flip.

 

Hmmm...I hear you. But on the other hand, businesses often utilize a line of credit for daily operations and everyone is allowed to loan themselves funds, so it's not like anyone has an advantage.

What do you guys think? I could change rule #3 to "Boasting and playful denigration of other contestants without malice is acceptable".

Only problem is that I can't seem to edit the first thread anyway.

 

I'd say it's your call; I'm ok either way.
And on CoinTalk, you can't edit your posts after a certain time (you have less than an hour to edit....only posts in the for sale forum can be edited at any point).

 

The game is afoot. Put me in, coach! These are screen shots from a video. I just bought this NGC AU53 Barber Dime for $55 plus $4 shipping. It came from an offer made on a Facebook buy/sell/trade group. That puts me at $75.13 spent. The video indicates pretty nice toning...a good type coin for someone.

Oh, and regarding that 25% rule...let's leave it as is for now, but with an understanding that the borrowed amount can't be the majority of an additional coin's purchase price. In other words, it wouldn't be fair for me to buy a $49 coin right now since half of the purchase price would be "borrowed" funds. The 25% is there to facilitate a "stretch purchase"...not make new ones...so let's say you can't go more than 25% beyond your remaining available cash. Sound fair? (example: that would allow me to buy something like a $31 coin including tax and shipping with my remaining $25)