did I make a mistake?

I got a $25 box of LP2 (formative years) Lincoln cents from the bank. I sold the box on Ebay (got about $150). Mistake?

 

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Not in my eyes. You made a profit. No sense thinking about what if. It could have been worse. If the buyer finds some good ones, feedback will be stellar.

 

Surely you jest. :mouth:

 

Nope. There's a sucker born every minute.

 

Mistake? I'm not sure I would call it a mistake, but I will play the devil's advocate for a moment....

While I don't look at coins as a profit center -- it is difficult to stand in judgment over those who do as there's nothing inherently wrong with profit -- I do question what value flipping mint products has in the grand scheme of numismatics. Is taking profits off speculation good or bad when it comes to the long term future of coin collecting?

So would I do it? Probably not. Was it a mistake? For you, clearly it wasn't, but isn't there a higher duty to the collecting community?

Just some food for thought, respectfully submitted...Mike (who realizes the above post is idealistic)

 

No mistake at all. Strike when the irons hot. I love to see a collecor be able to turn a profit. These will surely cool off.

While you can never go wrong with BU rolls at face value, the ideal thing would be to go buy another box at face and then put $125 less fees into your collecting budget:high5:

Way to go Dan.

 

Some more food for thought, if Dan was one of the TV coin retailers would that change our opinion on the topic?

Be honest....

 

Of course it would have been different.

The TV folks hype and intentionally deceive. I am sure Dan just posted the box and let the bidders decide. Free market capitolism at it's best.

 

I don't see how making $125 is a mistake.....congrats!

 

Why would that be a mistake?
Not like these are going to be RARE, or anything...
$150 and you paid $25... That makes sense to me

 

I don't understand the question. Are you asking if you made a mistake by selling them too cheap? Or are you asking if you made a mistake by flipping them for a profit?

 

Not a mistake at all in my opinion. Like Jack said he just listed it and let buyers set the price.

 

Exactly, these coins are going to drop like a rock before long I think...sell them while you can. There is a demand for them right now and I don't think it's going to last.

 

It's no more a mistake than making a profit off of any coins. Unless there's someone paying face value for every coin in their collection, I really don't see how they could justify saying what you did was wrong.
Guy~

 

Great !!!!!!!!!!

All for profit...you did good....buy at face and make some extra $ for your future .... whatta we do this for....collecting....for our future..... Great Job in my opinion....

 

Interesting perspective.......

 

I meant should I have held them in hopes that they would increase in value.

 

Absolutely not. These coins are going to drop like a rock in all probability. It's best to sell now while they are hot.

 

Oh so, these will become "RARE" out of nowhere?
No, people are hoarding these, and there will be tons in high grade examples!
You did the right thing.
If you find any 09 dimes and nickels, sell those now too, because you will feel like an idiot if you keep them, and everybody is finding them change and such.

 

Then no, I don't think you made a mistake. I don't see these rolls going up in value any time soon, and from what I've seen in other issues over the years it is best to strike while the iron is hot.