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I have lost money on every coin i have ever purchased.
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<p>[QUOTE="COINnoisseur, post: 1673092, member: 40106"]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.[/QUOTE]</p><p><br /></p>
[QUOTE="COINnoisseur, post: 1673092, member: 40106"]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.[/QUOTE]
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I have lost money on every coin i have ever purchased.
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