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<p>[QUOTE="Sholom, post: 3515119, member: 17753"]I answered "yes", but I'm not sure it was accurate: I was purchasing for <i>immediate only</i> turn-around and profit. Let me explain:</p><p><br /></p><p>Before I retired, I worked just two blocks from one of the only US Mint retail facilities in the US (in Wash. DC). One day, I noticed that rolls of $1 Harrison dollars, which had come out that day, were selling on eBay for around $180. (To this day I have absolutely no clue why). So, I went to the Mint store, and purchased every last one they had (they had around 15 left, at around $35 each I think) and sold them over the next two weeks on eBay, each for around $130 to $180. I couldn't believe my luck!</p><p><br /></p><p>Also around that time, the Mint would sometimes sell limited items, on-line only, and everybody knew that the price would go up, and it was luck of the draw if you could actually connect on-line right at 12 noon Eastern Time. I think I did that twice. I don't remember the first time, but the second time was in November of 2011, I purchased the "American Eagle 25th Anniversary Silver Coin Set" (maximum was 5) at a cost of $300 each directly on-line from the Mint (I was lucky to connect), and then sold all five within a week on eBay for a bit above (on average) $700 each.</p><p><br /></p><p>I also got rolls of each of the four variety of Lincoln cents that they sold at face value from this Mint store (not mint rolls but bank-rolls) on the day of issue, went to the post office and got a DC cancellation mark for that first-day, and sold them, too. Easy (but not a lot) of money. Actually, I still have a whole bunch (of all four varieties times two: P and D) sitting around somewhere. But, again, I was lucky that I could just walk to the store and pick them up.</p><p><br /></p><p>And, my final example: I find that (at least, back when I was doing this, around 2009 to 2011) folks would pay a premium to get a proof coin <i>right away</i>. So I would purchase 5 or so proof sets on the first day they sold (again, in person, so I didn't have to pay postage), crack open the case, and sell the coins individually. My profit -- percentage-wise -- was pretty good, but, still, it was fairly small beans. But I was bored at the time, and it was fun handling the proofs (no, not with my actual hands!). I also sold a few sets. Back when eBay was cheap, I could actually *undersell* the US Mint because they charged higher shipping than I did. Say, e.g., the Mint was selling at $29.90 with $4.95 postage. That meant I could get them at $29.90 with no postage. Then I could start the bidding $29.90 with, say, $3 postage. So, I'd make a buck -- except, again, on the first day of release, I could advertise that I actually had them <i>in hand</i> and would <i>ship within 12 hours</i>, and folks would pay a premium for that. (They had to have it right away), so I made $5 or sometimes $8 or $10 per set on the first day of each proof set release.</p><p><br /></p><p>So, do I purchase coins for long term investment and/or price appreciation? No. Never have and never will. I don't know enough about coins, or the coin-business, to compete with y'all who really know stuff.</p><p><br /></p><p>On the other hand, as noted, I purchased some (and, who knows, perhaps some day in the future, depending upon how easy eBay is these days) for *immediate*, essentially guaranteed, profit.</p><p><br /></p><p>(So how should I have answered the survey question?!)[/QUOTE]</p><p><br /></p>
[QUOTE="Sholom, post: 3515119, member: 17753"]I answered "yes", but I'm not sure it was accurate: I was purchasing for [I]immediate only[/I] turn-around and profit. Let me explain: Before I retired, I worked just two blocks from one of the only US Mint retail facilities in the US (in Wash. DC). One day, I noticed that rolls of $1 Harrison dollars, which had come out that day, were selling on eBay for around $180. (To this day I have absolutely no clue why). So, I went to the Mint store, and purchased every last one they had (they had around 15 left, at around $35 each I think) and sold them over the next two weeks on eBay, each for around $130 to $180. I couldn't believe my luck! Also around that time, the Mint would sometimes sell limited items, on-line only, and everybody knew that the price would go up, and it was luck of the draw if you could actually connect on-line right at 12 noon Eastern Time. I think I did that twice. I don't remember the first time, but the second time was in November of 2011, I purchased the "American Eagle 25th Anniversary Silver Coin Set" (maximum was 5) at a cost of $300 each directly on-line from the Mint (I was lucky to connect), and then sold all five within a week on eBay for a bit above (on average) $700 each. I also got rolls of each of the four variety of Lincoln cents that they sold at face value from this Mint store (not mint rolls but bank-rolls) on the day of issue, went to the post office and got a DC cancellation mark for that first-day, and sold them, too. Easy (but not a lot) of money. Actually, I still have a whole bunch (of all four varieties times two: P and D) sitting around somewhere. But, again, I was lucky that I could just walk to the store and pick them up. And, my final example: I find that (at least, back when I was doing this, around 2009 to 2011) folks would pay a premium to get a proof coin [I]right away[/I]. So I would purchase 5 or so proof sets on the first day they sold (again, in person, so I didn't have to pay postage), crack open the case, and sell the coins individually. My profit -- percentage-wise -- was pretty good, but, still, it was fairly small beans. But I was bored at the time, and it was fun handling the proofs (no, not with my actual hands!). I also sold a few sets. Back when eBay was cheap, I could actually *undersell* the US Mint because they charged higher shipping than I did. Say, e.g., the Mint was selling at $29.90 with $4.95 postage. That meant I could get them at $29.90 with no postage. Then I could start the bidding $29.90 with, say, $3 postage. So, I'd make a buck -- except, again, on the first day of release, I could advertise that I actually had them [I]in hand[/I] and would [I]ship within 12 hours[/I], and folks would pay a premium for that. (They had to have it right away), so I made $5 or sometimes $8 or $10 per set on the first day of each proof set release. So, do I purchase coins for long term investment and/or price appreciation? No. Never have and never will. I don't know enough about coins, or the coin-business, to compete with y'all who really know stuff. On the other hand, as noted, I purchased some (and, who knows, perhaps some day in the future, depending upon how easy eBay is these days) for *immediate*, essentially guaranteed, profit. (So how should I have answered the survey question?!)[/QUOTE]
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