I'm thinking of adding a new type of offering to the ToughCOINS website. That being an offering of randomly selected common gold coins by type. This is done by numerous sellers already, so I don't expect that it will set ToughCOINS apart from other businesses in any way. It would be just another means of generating business revenue, but it would help grow the company's inventory of the types of coins I like to sell. Are there any particular sellers of common gold by type that you especially like, and are you willing to share what it is about them that I might learn from? If so, I'm eager to consider all options. - Mike
If selling generic by type, be it slabbed or raw, select and sell only very solid examples for the grade, particularly if raw. Slabbed is somewhat less important, of course, but even so, I'm sure you know as well as I that buying generic can be a crap shoot. If you remove this from the equation, it has been my experience that you'll greatly increase the chances of repeat buyers, as well as up the likelihood of them taking an interest in other more profitable material you may sell, which seems to be your end goal. It's tough to do what so many others already are, but with time and patience, one can certainly still set themselves apart. Over the years I learned the biggest hesitation people have when considering such a purchase is ending up with a dog. Yes, I understand that margins are often very slim on such material, so being selective isn't quite as easy as it is with other coins, but Walmart doesn't make money on milk (if you know what I mean). In a business that relies so heavily on repeat business, a little less now can pay off, sometimes handsomely, down the road.
I'm not 100% sure what you mean. Do you mean you would offer a coin at random, and the buyer does not know which date they would receive? I always avoid those deals, as I like seeing what I am buying. You already have a decent selection of gold, so I'm not sure what the main goal is.
Most of the gold you see on line or at shows is better date, higher grade, or has something else special going for it, but there's a fair amount more that is common date and / or lower grade, both raw and certified. I don't have time to photograph and list such coins individually, but could justify selling them as nondescript, random selections. If I had problem coins, they would be offered in a problem category, much like is done on APMEX with cleaned coins, which get their own category. - Mike
"Common US TYPE Gold Coins" category will suffice well I suppose. Makes things a bit easier for the guy like me that can only afford common date gold really. I like the idea,anything to make the life easier of the shopper I am all for.
Although the idea of "common guy" gold is excellent, I think you'll strangle yourself by offering it without imagery. That will exclude all but bullion-type customers, because it's so easy to find things imaged these days. This might be a good time to contemplate a more bespoke imaging rig; the stuff I preach has - among its' capabilities - mass-production potential. It's trivial for me to do 4 coins a minute, obverse and reverse, and most of that time is wasted in positioning the coin properly. When you know the equipment and the process, your first shot gets it right. By employing interchangeable jigs to place a coin in the same spot relative to the sensor each time - especially easy with slabs - you could script a postprocessing flow which would turn cropping (for instance) into a one-click operation.
