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So, you are in charge of a coin investment fund. What would you do?
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<p>[QUOTE="johnmilton, post: 12644656, member: 101855"]Resign immediately.</p><p><br /></p><p>My short term record has not been very good, except when I was dealer. Then I was buying stuff that I could turn over within a couple months or less.</p><p><br /></p><p>As a collector I have purchased better material, although I did sell some big coins when I was dealer. My record was $78,000, but it was quick flip, and my mark-up was low compared to the total. BTW the coin was an 1898 $5 gold in Proof-66, Cameo.</p><p><br /></p><p>So far as the long term goes, I've done well financially. But that's not what these funds are all about. It's about instant riches. The only people who do that are the Chinese who make their own inventory, or bottom of the barrel dealers who rip-off the widows of coin collectors. And yes, I've seen a couple of those.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 12644656, member: 101855"]Resign immediately. My short term record has not been very good, except when I was dealer. Then I was buying stuff that I could turn over within a couple months or less. As a collector I have purchased better material, although I did sell some big coins when I was dealer. My record was $78,000, but it was quick flip, and my mark-up was low compared to the total. BTW the coin was an 1898 $5 gold in Proof-66, Cameo. So far as the long term goes, I've done well financially. But that's not what these funds are all about. It's about instant riches. The only people who do that are the Chinese who make their own inventory, or bottom of the barrel dealers who rip-off the widows of coin collectors. And yes, I've seen a couple of those.[/QUOTE]
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