Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Moderns v. Classics
>
Reply to Thread
Message:
<p>[QUOTE="bg35765, post: 1907112, member: 42710"]statequarterguy requested some backup here, so I'll try to provide some.</p><p><br /></p><p>First, let me say that I always make a point to read medoraman's opinions on things. I think he is very rational and has a lot of experience. In general people here would benefit from paying close attention to what he says, especially on the precious metals forum. And I'm 100% with his advice on classic keys as well.</p><p><br /></p><p>But in this case "buying everything the mint offers" has never been recommended by anyone trying to profit from modern mint products. There is so much stuff that has high premiums for packaging that most of it inevitably will sell for less than issue price.</p><p><br /></p><p>However, there are products that will be winners and there are some general rules to follow to help find them:</p><p><br /></p><p>1. Watch for backorder notices on the mint's website. Analyze the sales report and decide whether you think it is likely they will produce another batch of the item or not. If it is a low mintage for a popular item, stock up.</p><p><br /></p><p>2. For the most part, avoid clad. If you are going to buy clad items, try to choose the ones where the mint price is a low percentage over face value. (i.e. the S business strike quarters are a safer bet than the Uncirculated Set, which is a safer bet than a clad commemorative.)</p><p><br /></p><p>3. If it is the first year of a new annual product, don't buy it. Look at the first year mintages for proof silver eagles, proof gold buffalos, proof gold eagles, first spouses, 5 oz ATBs, etc. The first year demand is always the highest.</p><p><br /></p><p>4. If they make a proof an uncirculated of the same coin, always buy the uncirculated. Feel free to buy one shiny proof for your collection (I prefer them too), but buy multiple uncirculated to flip because they almost always are worth more than the proof years down the road.</p><p><br /></p><p>I have done OK following these rules in my short time collecting coins. And my profits have allowed me to add to my personal collection.[/QUOTE]</p><p><br /></p>
[QUOTE="bg35765, post: 1907112, member: 42710"]statequarterguy requested some backup here, so I'll try to provide some. First, let me say that I always make a point to read medoraman's opinions on things. I think he is very rational and has a lot of experience. In general people here would benefit from paying close attention to what he says, especially on the precious metals forum. And I'm 100% with his advice on classic keys as well. But in this case "buying everything the mint offers" has never been recommended by anyone trying to profit from modern mint products. There is so much stuff that has high premiums for packaging that most of it inevitably will sell for less than issue price. However, there are products that will be winners and there are some general rules to follow to help find them: 1. Watch for backorder notices on the mint's website. Analyze the sales report and decide whether you think it is likely they will produce another batch of the item or not. If it is a low mintage for a popular item, stock up. 2. For the most part, avoid clad. If you are going to buy clad items, try to choose the ones where the mint price is a low percentage over face value. (i.e. the S business strike quarters are a safer bet than the Uncirculated Set, which is a safer bet than a clad commemorative.) 3. If it is the first year of a new annual product, don't buy it. Look at the first year mintages for proof silver eagles, proof gold buffalos, proof gold eagles, first spouses, 5 oz ATBs, etc. The first year demand is always the highest. 4. If they make a proof an uncirculated of the same coin, always buy the uncirculated. Feel free to buy one shiny proof for your collection (I prefer them too), but buy multiple uncirculated to flip because they almost always are worth more than the proof years down the road. I have done OK following these rules in my short time collecting coins. And my profits have allowed me to add to my personal collection.[/QUOTE]
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
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Moderns v. Classics
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...