Coin collectors are making millions

Discussion in 'Numismatics' started by JulieW, Dec 11, 2018.

  1. JulieW

    JulieW Well-Known Member Silver Stacker

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    Interesting note on certification.

    https://www.theage.com.au/business/...-young-people-cashing-in-20181210-p50l8u.html

     
  2. chansax

    chansax New Member

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    Just read that too.
    Also interesting that more young people with disposable income are getting involved in coin collecting. I would count myself as one of them. But I don't personally know anyone of my peers who does.
     
  3. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    I doubt they are "making millions"

    Turning over millions and making millions are two separate things

    I think most of us know that there isn't huge profits to be made in most cases
     
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  4. aussiesilver

    aussiesilver Well-Known Member Silver Stacker

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    Just more hype to keep the wagon with flat tyres rolling
     
  5. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    For those coins, they are making huge profits.

    It's not the pittance margin that bullion dealers can make on bullion coins.
     
  6. ozcopper

    ozcopper Administrator Staff Member

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    I'm on Drake's email list and enjoy the monthly emails. It is good to see a younger proactive coin dealer.
     
  7. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    Oh I don't doubt the profits made on the Holey Dollars etc, but the article is clearly trying to portray that they're all making millions, throwing out large turnover numbers but not a single mention of actual profits
     
  8. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Most of the coin dealers I know are only at the market stall levels and they are winding up their businesses, it has mostly been a hobby job for them in retirement but the cost of the stalls and getting up early to the markets is not worth the return.
     
  9. Philski

    Philski Member

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    We are lucky to have such a strong numismatics market. its not uncommon for sales in the hundreds and thousands on face value of Australian decimal coins and notes in every denomination issued from 1 cent upwards. I honestly cant think of another currency globally with such high prices achieved for the same value modern numi. And while the Royal Australian Mint continue to market commemorative issues and collectibles as well as it has. it will continue for years to come. I cant wait till they get rid of the 5 cent piece. If the one and two cent coins are anything to go by. Im not sure about getting rid of the lot though, The banks already make enough out of us.
     
  10. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Does anyone else remember a few years back when a big numi-investment mob went broke. At least one ss member got burnt by it. Problem involved the valuations versus the actual worth of many of the coins they dealt in.

    Retail price via an actual shop vs online vs hobbyists at markets vs auction price plus commission vs wholesale vs valuation price ( estimate) vs stackers rates vs melt value.

    The actual realised price, however it is sold, may be a long way off its valuation estimate as listed in something like a superannuation portfolio.

    Mossgreen were another who dealt in high end collectibles that sank due to reality not matching their opinions of what some things should be worth or supposedly will be when sold.
     
  11. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    Yep... Perth Mob - Rare Coin Company.

    Collectibles can be an easy target for an indirect Ponzi style thing, or even just a way of getting a loan to cover trading from your customers.
     
  12. The_Roll_ Man

    The_Roll_ Man Well-Known Member Silver Stacker

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    I once acquired a number of Aust. Sovereigns from an auction in Brisbane last year ( or maybe year before ) …

    They came in little packets with notations from the previous seller ( a Sydney-based dealer ).

    As an example, what I acquired for $750. was previously sold at some $9,950. in 1990.

    ( from a hoard of 'ship-wreck' coins )
     
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