Great! It will be interesting to see what you buy. I listed my ancient coin on a Facebook forum and a guy haggled me down to about a $5 profit. Haven’t received the funds yet so it’s not official. I did that because $100 budget is super difficult and any wiggle room is helpful and it sat longer than I expected. It will be interesting to see which strategies work better. I think I’m gonna go for a quick cash with small profit. But I get the impression that DDDDD is going to take the opposite approach. Once you buy something and I sell mine, perhaps I can create a leaderboard.
I sold my denarius. After PayPal fees and shipping cost, I netted a profit of $3.84. Considering that it was a $16 purchase it was a big percent but I was surprised the coin didn’t move faster than it did for the price I had on it. I was talked down to $25 shipped. Mail cost and PayPal fees ate up the profits. I also received my barber dime in the mail. It’s an AU 53. Toning isn’t bad! I’m going to list it on eBay right away.
The leaderboard now looks like this: Steve: $59 coin, $44.84 cash = $103.84 Ddddd: $57 coin, $43 cash = $100 Rob9874: $100 cash New entrants can participate with a $100 Budget.
That’s just me. Lol. I’m sure if you take your time find the right coin for a great price and then sell it for right price you don’t need to rush to do well. That’s part of why I wanted this contest to begin with...to see how others approach the challenge. The reality is there isn’t any winners or losers here because we’ll all benefit. I am viewing each sale as essentially compounding interest. Small increases occurring in rapid succession can equate to big changes over time. 5% a week will double your money in about 14 weeks. 10% in 7 weeks. I’m already getting quite a bit of interest in my barber dime on eBay. Makes me wonder if my price is too low and my profit too small. I don’t really know the answer. I also have no idea what to buy after the Barber Dime sells. I feel I lucked into a good purchase.
Great idea! I won’t partake this time but really looking forward to seeing how the competition unfolds.
You (or anyone) can jump in at any time and try it. Step #1 is simply to buy a coin less than $100 that's a "flip" candidate.
It only takes one buyer of a bogus eBay 'erroneous rarity' at an inflated price to win this contest - the $99.90 left over from your original contest kitty would be gravy Good example: https://www.ebay.com/itm/1995-error...632208?hash=item4b70a86890:g:LbwAAOSwVJFd9Pbz
Here's an update. The Barber dime just sold for $93. After ebay fees, paypal fees and shipping, I think I made about $14 on that $59 purchase. Now I have somewhere in the neighborhood of $118 to shop with plus or minus a few cents depending on shipping costs. Problem is, I don't have a clue what to buy next.
@stevereecy update...the Franklin sold for $99 and after the shipping/fees, I had a profit of $33.71 (original price paid was $57) ....I potentially have another coin (will update when that one arrives).
You maybe should put a rule in, that ones can not transact with another forum member , or intermediate family , or on loan or use total of a lot purchase as the price. Some of these people are very , very smart with coins and money. Jim
Awesome. You’re in the lead! For what it’s worth my shipping was $3.95 so I am right at about $118 to play with. And I’ve been shopping pretty hard but I haven’t found anything yet. It’s actually kind of frustrating to try to find candidates in such a low price range. The problem is you have to have enough profit built-in to be able to deal with shipping and eBay fees unless you sell through another forum. It’s tough with cheap coins!
The leaderboard now looks like this: 1. Ddddd: $133.71 Cash 2. Steve: $118 cash 3. Rob9874: $100 cash New entrants can participate with a $100 Budget.
I hear you. There’s a certain degree of honor system in this. I guess if somebody wanted to cheat they could easily “win“, but then what would they really win anyway? This is really just a way to test and sharpen you’re buying and selling skills. I’d like the bragging rights associated with winning, but I’m happy to just play.
It is difficult. I was fortunate to catch that Franklin but it’s often not easy to find something like that. My sales tend to be on the various forums as eBay hasn’t worked well for me lately (combo of fees and few views of items listed).
Dang man I’d almost buy that from you for $93! So that’s your official entry? I’m still looking. It’s hard to find a coin that fits the niche perfectly. Nice enough to make somebody want to buy it but still cheap.
Yep that is the official follow-up after the Franklin. And I'd have to probably hold out for at least a little more or else I'd lose money after shipping and fees (or break-even at best).