Hey guys, I know I know, so the new guy is asking yet ANOTHER question. In your guys opinion what coins have been the best to historically flip?? I"ve been getting a TON of great finds in my CRH with nickels lately, but just curious what you guys think about it. - Jeff
Any really. What people don't "get" usually is your profit is most of the time made on the purchase, not on the sale. Flippers can and do make money on any coin, (or any thing), its about KNOWLEDGE. Know your market and your product, and you can flip most any coin for a profit.
But if you don't know your market, if you don't have that knowledge, then you are almost assuredly going to lose money.
A lot of hard work and research. Chinese and Indian coins have been very hot but again you need to know what you buy and sell otherwise you will get burnt with counterfeits.
I never said it was easy, that I was good at it, or even that most others succeed, just that it is possible with anything really.
I am not being snide at all, but if one needs to ask which is the best coin(s) to flip, they are at a tremendous disadvantage. It is similar to someone asking, who is the dealer to buy from to get the best coins at the lowest price. If anyone knew, they would probably not say due to it conflicting with them buying the best coins at the lowest prices. The question will require a large amount of research into ebay and auction houses results, and a lot of observations as to what people at shows are looking for, and which coins are selling at premiums. Seriously , I do not know the coins coming from roll searching at face could validate the advertisement and selling expenses. Only if one had knowledge of varieties and grading could one justify it. Knowledge can make it work out, but it is not an easy path. Best wishes, Jim
Love the statements above guys, big learning curve too...but I can't say how much fun I am having breaking into rolls of nickels and just looking through them. Also if you think about the history of that coin...who's pocket it may have been in, when it was minted...just amazing to even think about!
Appreciate the words Jim, as I"m just starting in my collecting and hunting I"m learning quite a bit already and this site has been an amazing resource. At times it seems overwhelming how much information you need to learn to really know whats out there. I"m hoping to goto the Orlando coin show in January. Any resources and books or videos you guys think would help would also be an amazing help! - Jeff
Also to the posters that have said you don't want to be cold, my intention was not to be combative, I probably should have asked what your FAVORITE flip has been, that would probably have gotten a better response. =- ) Nothing in this world is without hard work, and learning, it's just been a facinating journey so far and I definitely don't mean any disrespect to those of your that have been doing this for years. Thanks for your patience with the resident new guy = ) - Jeff