I'm not into ASE proofs, but when I seen this one on ebay I could not resist thinking I could make some quick money on it. Notice the title is wrong, but the description is correct. It's a 1996, not a 1986. Cost me $42.29 buy it now price with shipping. http://www.ebay.com/itm/190715998430 Sold it for $89.99 a few days later. http://www.ebay.com/itm/120972984671 Used the money to buy some more ASE bullion to keep for myself. Have you ever purchased coins on ebay just so you could turn around and sell them right away?
I have not but I know of a few people that buy off of proxibid and sell at the local auction house and usually triple their money.
You see it happening all the time if you are watching close enough. Of course I am one of those ones who always check closed auctions on heritage and ebay to see what the best I can get a coin for. I saw one coin sale for around $300, sold again and now is listed at 1049 - it did not sale at 1199. Funny to me. I only allow so much over heritage before I become dis-interested.
Do it all the time. That is how I pay for most of my coins. I don't normally double my money, but it has happened.
I have done it several times. I bought a few PCGS MS66 1950-D Jefferson Nickels for around $25 through ebay auctions. I kept the best looking one for myself and sold the other 2 for around $40 after fees and shipping. So nothing major price-wise, but still. If you look for coins that are either incorrect listings / graded coins from sellers who have low feedback / not great pictures I think you can make money flipping coins on ebay. The quality of your pictures, in my experience, makes a huge difference. So if you can find coins selling for a bargain without high-resolution pictures, then take some good pictures of them, you can make some decent money. I haven't tried it on anything but a few $25-$100 coins so far, but if it keeps working I might try it on some others. rlm, do you have a particular type of coin that you flip? are they usually graded or raw?
Almost exclusively graded, but occasionally I have found some raw that I trusted. I also do rather well with a line of Christmas ornaments that people sell during the spring and summer. Great time to sell Christmas ornaments, right? Anyhow, I buy them then and sell them around November when people are looking for them.
All of my coins are for long-term investment. I only buy for bullion content. However, there have been several I could have turned around for instant profit. Sometimes you have to find people selling stuff that they don't know anything about. For example, if I wanted to search for silver quarters I'd type in "silver quarter" in ebay's search field. However, if you want to take the time to sort through you can do a search like this "1953 quarter -silver" This means you want to find all 1953 quarters but you'll only see those who's title does not include the word silver. Obviously anyone who knows what they have will put silver or 90% in the title to increase search hits. However, it takes a lot of time to search this way, especially since there are so many different years and whatnot. But I've managed on occasion to by junk silver at half-price because nobody else was bidding on the stuff due to the poor description. Good deals can be had on eBay but it takes a lot of extra work. I actually bid on nearly 100 items a day sometimes. But I only win a very small percentage of them. In fact, most days I don't win anything.
I like looking for mint packaged products sold by individuals that perhaps they don't know the value of. Some of these are not listed in price guides and unless you do some research you may not be aware of what they go for. I think most people just assume that mint issues always sell for less than the original price. While this is true of the majority of them, some of them sell for multiples of what the mint sold them for.
