I have lost money on every coin i have ever purchased.

Almost makes me wish it was 5PM........

 

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There are a lot of uneducated buyers out there who overpay, and also many buyers (including educated ones) who make impulsive buys every once in a while.

 

Why not just sell on ebay ? Yes it takes a bit of preparation and time pre and post sale but then YOU are in charge and should have an idea of what each item is worth.

Brian.

 

Since the OP doesn't drive, eBay appears to be his ONLY option, other than big online auctions like Delcampe or bidStart.

 

Gotta ask Revi, what was it? Picture?

 

i will be starting a new post soon on the proper way to grade coins.

 

Can I ask why? For someone who thinks so low of the hobby to tell all of us "the proper way to grade" seems a little inappropriate in my opinion.

 

I wasn't aware that you are an expert grader, that changes everything. Here is how you make money selling coins. Go to your local coin show, buy raw coins that are condition rarities, buy them for the grade point underneath what you already know it is, send them in for grading and make a fortune. Simple.

 

Never thought of that..........

:rollling:

 

It was an XF dos mundos 2 reales from 1765, Mexico City mint. I became fascinated by them and traded a gold coin for it. I am not regretting it, but I am over the reales thing now.

 

In Vogt's book, there's an illustration of an 1764 Mo two reales, and its pillars are considerably taller than the top of the crown?? Also the denticles don't look right.

 

He tried that already with disasterous results... a lifetime ban from selling on eBay.

http://www.cointalk.com/t224794/

 

Oh dear........

 

I predict at least a four page educational and spirited debate is about to begin.

 

Shock -- I don't know beans about reales and cobs, etc. But the pic in the catalog looks radically different than the OP's coin. At the moment, I'm looking for Sedwick's book for another image to compare.

edit
It also appears you can buy a decent 1760s two reales for well under $50 at just about any foreign coin dealer.

 

Being unsuccessful in every transaction for 5 years would tell someone to adjust their approach or get out of the business. No single aspect is causing the problems. Your lack of desire and interest in the hobby, no matter how much research you've done is preventing you from understanding how your customers think of and appreciate coins. You've also mentioned that you do not drive and the community that you live in has no coin shops or a coin collecting presence. This another problem. Your trying to make money in a hobby but your access to purchasing quality coins and having a large selection to choose from is almost nonexistent. Also, you have very limited means of selling your coins. The cash-for-coins type model is a terrible way to sell coins. You have to do it face to face and have enough of a potential customer base to be able say no to a buyer if you don't like their offer. You said you were concerned about sending the check back because you didn't want to lose this guy as a buyer in the future. You cannot be in a position where your afraid to say no. Your customers need to be numerous enough for you to decline a terrible offer from someone. Whether or not the offer is actually a bad one, you believe it is and if you feel that way then say no and sell to someone else. As far as selling your coins, it seems you have almost no options and your forced to use this guy as a buyer. Set a price and if the buyer will pay that then that's great. Don't send your coins off to someone and just wait for a check without discussing a price. That is the worst business model I have ever heard of. I didn't know that this existed and that people would do something like that. Another very important factor that I don't think you've realized yet is that you have to be able to sit on coins for years. I have never paid more then $205 for a coins and that was by far my largest purchase. However, I have over $2,000 just in silver value in coins. It has taken me a few years to build a decent collection and if I ever decided to sell and silver goes up I'll make a profit. You don't have to be wealthy to prosper in this hobby. You have to be patient. In your current position there are to many factors lined up against you for you to make money. Unless your a sadomasochist(thanks spell check) I would find find something else to fill my time.

 

second that

I'm selling coins more than a year. I lost only 3 times: 2 coins were lost, and one got milk spots so reduced pricing. Sold about 300 coins with an average price of $88. How did I do it? Research the market, learn about coins, make an offer to friend collectors, if rejected - goes to eBay (where I get more most of the time).

 

I wouldn't be too concerned at variation on a coin that age. Every die was individually made and variation is to be expected.

 

When I first started reading that I thought you were going in a totally different direction. But you summed it up perfectly.