Message:

<p>[QUOTE=&quot;rhoggman, post: 390061, member: 13987&quot;]On an earlier thread I had mentioned that it is possible to make a profit on generic pre-1933 gold by utilising e-bay(or other auction houses). Although I have been doing this slowly over time and do not use it as a get rich quick scheme(impossible IMO), I just wanted to give a small example of the risk/ reward of doing this. </p><p>&nbsp;</p><p>Ok.... I&#039;m looking for a decent deal, and nice looking coin that I am not going to lose my shirt over, but could realistically make $20 - $200 on. My strategy is usually to find a coin that I think is an EF-AU without a doubt, but possibly a BU coin. My bidding strategy is simple: I start out with a wholesale bid equal to the XF greysheet price, and bid up to somewhere in between AU-58 and MS-60 greysheet depending on how I really think the coin will grade. This strategy has a risk involved, and I could lose money. However; that risk it limited to less than a hundred dollars, and I only bid on items I really have confidence in. So far I have done pretty good.</p><p>&nbsp;</p><p>Here is an example on a recent coin I won on an ebay auction.</p><p>&nbsp;</p><p>XF greysheet = 265 AU 58 greysheet = 300 MS 60 greysheet = 415</p><p><b><u>1913 $5 Indian Head $361/ won:</u> seller claims coin is UNC. The picture looks good, the seller has a lot of positive feedback, and is upfront about any problems on other coins. Assuming the coin is real, but only XF or AU I lose about $100 bucks, and try to get my money back. </b></p><p><b>If the coin is UNC I can probably make at least $40 selling it at wholsale to someone in my local area.</b></p><p><b>If I send it off to be graded (which I probably will), and it comes back AU55 I am pretty much left with a break even coin which I will have to trade, or hold on to. </b></p><p><b>If the coin comes back MS 60 or MS 61 I know I can make $70 - $150 easily. If it happens to get a grade of MS 62 or higher obviously I have made out quite handsomely, and this has happened to me in the past. I will post the pics below, and let you all pick apart my insane methodology. Please let me know if you think I am destined to be a pennyless fool.</b></p><p>&nbsp;</p><p><b>BTW this coin is actually little more on the risky side for me, but I thought this one could be worth it, and it possibly grade an MS 62.&nbsp; A chance like this I am willing to take to more than double my initial investment of $370.</b>[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in