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<p>[QUOTE=&quot;kaparthy, post: 21757, member: 57463&quot;]Let us know when you sell the coins for more than you paid for them.</p><p><br /></p><p>Back when electrons were particles, I was a sales clerk in an electronics store.&nbsp; As with automotive parts and other markets, we had huge books of prices based on volumes.&nbsp; </p><p><br /></p><p>Column 1: Manufacturer&#039;s Suggested Retail Price</p><p>Column 2: Discount Retail Price</p><p>Column 3: Wholesale 1-10</p><p>Column 4: Wholesale 10-20</p><p>and so on.&nbsp; </p><p><br /></p><p>Note that there is a discount retail price in numismatics.&nbsp; I call it &quot;the cool guy discount.&quot;&nbsp; If the dealer knows you as a good customer -- has made money off you in the past&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> -- you get the material a few points back of Red Book or Trends or whatever.&nbsp; A dealer can get a little glow or halo that has a market edge by being able to say, &quot;You that Noyes 7 that I had in the PCGS 10 holder? I sold it to Smedley.&nbsp; He liked it.&quot;&nbsp; Since Smedley is the author of the new standard book, that carries weight in the market.&nbsp; Of course, Smedley is no one&#039;s fool since this is his speciality, he got it at the price he wanted, which is not the price <b>you </b> will pay.</p><p><br /></p><p>Collectors think that &quot;Greysheet&quot; is a coin dealer&#039;s wholesale price list. Dealers use it for the easy buys and sells, frequent traffic between dealers who know each other; coins easy to sell retail; etc.&nbsp; Collectors can get the Greysheet price pretty easily.&nbsp; (At the electronics store, <b>we treated a lot of hobbyists like dealers</b>: they were volume buyers, in a couple of times a week with a list of parts for a project.&nbsp; Sometimes they fixed TVs for their neighbors, etc.)&nbsp; However, there are other prices, down to 40% or less of retail.&nbsp; In real estate, it is said that there is no money in selling houses: the money is in buying them.&nbsp; That also applies to numismatics.</p><p><br /></p><p>In <i>The Celator</i>, the magazine for collectors of ancients -- David Vagi (a dealer and a recognized authority in Roman coins) said that if you want to make money on your collection, then buy the most popular coins in the highest possible grades and hold them for at least seven years.</p><p><br /></p><p>You have to hold them for seven years so that the 7% p.a. appreciation catches up with the wholesale/retail spread -- but he did not say that. </p><p><br /></p><p>A &quot;cool guy&quot; with a lot of upfront money could do well holding on to a portfolio of keys in all grades: the 09-S, 1877, 16-D, and so on.&nbsp; Throw in an Ides of March, an Electricity Note in CU, and you have a portfolio.&nbsp; It still comes down to the person and their personality.&nbsp; One reason that numismatics is not a federally regulated investment medium is that <b>no two people get the same prices for the same coins.</b>[/QUOTE]</p><p><br /></p>

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