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John Kamin--"The Forecaster"
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<p>[QUOTE="GDJMSP, post: 2049128, member: 112"]Oh I'd agree that some dealers can be very passionate about coins, and more than a few collect themselves. But I think the point he was trying to make is that dealers have to be careful because for them it is a business, and no matte rmuch you like them you can't collect the inventory - if you want to stay in business.</p><p><br /></p><p>As for profit, wellllllll, I'd have to agree with Chris. The sad fact is that maybe 5% of collectors ever realize a profit on their collections. Now a lot of people argue that because they say - I've sold coins and made money. Well, I'm sure they have. But there is a huge difference between selling a few individual coins and selling an entire collection. It is when the entire collection is sold that kills your profit.</p><p><br /></p><p>The reasons for this are pretty simple. As mentioned, you have to buy the right coins. But you also have to buy them in the right grade, at right time, and then sell at the right time. Miss or get any one of those 4 things wrong, and it's almost a certainty that you will lose money at sale time.</p><p><br /></p><p>And that 5% number, that's a pretty accurate number. Because very few people, myself included, ever get all 4 of those things right.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 2049128, member: 112"]Oh I'd agree that some dealers can be very passionate about coins, and more than a few collect themselves. But I think the point he was trying to make is that dealers have to be careful because for them it is a business, and no matte rmuch you like them you can't collect the inventory - if you want to stay in business. As for profit, wellllllll, I'd have to agree with Chris. The sad fact is that maybe 5% of collectors ever realize a profit on their collections. Now a lot of people argue that because they say - I've sold coins and made money. Well, I'm sure they have. But there is a huge difference between selling a few individual coins and selling an entire collection. It is when the entire collection is sold that kills your profit. The reasons for this are pretty simple. As mentioned, you have to buy the right coins. But you also have to buy them in the right grade, at right time, and then sell at the right time. Miss or get any one of those 4 things wrong, and it's almost a certainty that you will lose money at sale time. And that 5% number, that's a pretty accurate number. Because very few people, myself included, ever get all 4 of those things right.[/QUOTE]
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