Hi all Being pretty new to the game, I wanna know what you think. Do you hold new Numismatic releases (think Star trek, Olympus, Red-back) or do you hold onto them and hope there values increase and increase. Reason I ask is I read somewhere that at its height the Red back was selling for $2200 (can't remember where I read that, may have been here somewhere) but are now selling for $1000, so although still being insanely high, has come down. While the Star Trek coins are currently selling for $400 and rising. What is your strategy? Sell while the iron is hot, or wait and hope for appreciation?
I use to flip these things and sometimes still do. It's usually the first issue of a series that does well, it rises and hits a peak then falls. The red back spider really hit it this modern thing off in a serious way for perth mint along with the lunar series which remains a massive winner. Hmm... Star Trek is a unknown quantity in this area. It does look promising to rise but it is geeky, which is a good thing for this type of thing if you like it or not. On stackers this type of thing is unpopular as it's a stacking site and people like getting things for far below spot if possible. Why I think this is in a different league as much as I dislike this type of thing. * Star trek has a cult and I mean cult following. * There are tons of collectors for anything star trek and they are obsessed. * It's super geeky box and packaging. They love that type of thing. * These things are getting massive views and watchings on ebay already. * The thing is 1,500 and these guys love to show off to one another. * My partner watches that geek show and I hate it. Even that show harps on about Star Trek. * A lot of fans have $ and love collectables. * Did I mention a massive fan base, cult and massive. I'm no geek in fact I dislike that whole thing. I don't mind scifi though. My 2 cents is these things are going to go higher... probably like $1000. Worth flipping for a profit, that never hurt anyone and no one has a crystal ball but I think its going higher, much higher.
Care for it like it was one of you own and if one day you decide to part ways sell it for a profit or a loss it all depends on the market.
"Just what the world needs , another flipper" No danger of that. At this stage I'm not sure I could part with any of my pretties. My strategy is simple: Only bargains (which is obviously relative) and the really really pretties.... I understand why the Star Trek issue will do do so well, it all about target audience (I am more a Star wars man). But the red back baffles me... Yes its a pretty coin, but are the people buying them actually collectors, or just dealers taking advantage of fluctuations in international currencies? If you spent a easy grand on a coin, wouldn't you also want to finish the collection? Who know,s maybe in years to come there will be as high a demand for the the Yellow bellied Snake, and the Snake eating Spider??? Fascinating hobby I've got my self into Thanks for your Thought s. Keep em coming
Forget this as a money making exercise. For every coin that goes from $100 to $1000 there will be 20 that go from $100 to $20. If you want to buy them as a collector go ahead, and enjoy the collection, but don't buy them hoping they will make you rich.
As with any speculative trade, only spend what you can afford to lose. If you think a particular coin will do well, just buy 2 and sell 1 later if the price increases. If it doesn't, just keep it !
I think it depends on the coin, the hype, the current market sentiment, whether the coin is part of a series that could see a lot of popularity, where you intend to sell, etc, etc, etc....there are lots of variables. Flipping generally may be better in terms of value return but for some issues it may be premature.....and it would only work anyway if you are keen on picking up coins that don't turn out to be duds....which there are a lot of....20 (or how many it may be) for every 1. And even when you think you have it figured out, you could be wrong. A good example to look at may be the U.S. Mint's 5 oz silver America The Beautiful series. When I first heard about them, the general sentiment toward them was very low. Then sentiment got strong. Now I think it's somewhere in the middle. I suppose with this series, the strongest determining factor for whether to flip (on eBay for example) or hold a raw coin would be how popular the specific issue is initially (assuming that you are not buying the particular coin to build a complete set....which ironically could be flipped as soon as it's complete. But I suppose that's set flipping, not coin flipping. . .
Why not just buy the coins because you like them, then whether they go up or down in value you'll still be happy to look at them now and again.
Because some people have more money than common sense, they then want to make more money in the hope it may give them a bit more common sense! Its a life balance thing! lol
^ Maybe not to one another exclusively but all silver products, whether blobs or collector coins will need to be sold in order to obtain money to pay expenses and bills, buy food, etc, etc, etc, etc. Silver hasn't been functioning as money for a long time now for the vast majority of people in the world. Silver can be seen as a store of value with inherent risks but it is not money. .
Alan Greenspan is wrong on silver and gold when he claims they are currencies. Gold can function like money for CB's and for those countries whose currency may be backed by gold (if there is any remaining today). Silver is neither money nor currency. .
If you are in the US, then Fed Reserve Notes are what you spend when you use paper money. Legal tender US coinage, authorized by the US Treasury are also what people spend as money. The Fed notes are legal tender and are backed by the assets of the Fed Reserve Banks. They are obligations of the US Treasury I believe. Legal tender coins are backed by the full faith and credit of the U.S. Government. The government asserts the right to tax its citizens as much as need be to fulfill the obligations of legal tender. .
missingalink, the whole board I reckon disagrees with you. Can you let this thread stay on topic as it is without the misdirection? Back to the thread. I agree the majority of these coins produce loses and for every 1 that succeed the majority fail to rise in price. Also these things are designed for collectors. Many of the first coins did superbly well like the red back spider, treasures of Aust Sapphire etc. and they were winners but then many people saw this and started to buy 100 of the one coin to sell on ebay. Lots of people did this. And the coin dealers in the city held back their allocations to ebay to sell for inflated prices. This destroyed a lot of sentiment and shook out those flippers who ended up getting burnt. Personally I think shops must be made to sell their consignment to the public at their release price and not ask for more. Who knows, I doubt perth mint has any control over the distribution of products it puts their name too. Mainly because it's designed by a coin company who uses perth mint to simply produce it for them and attach their name to it. Like I said these coins rise, peak then gradually fall. Though I think the Star Trek one may hit a chord, just a hunch. But it needs to get into the hands of collectors and not 50 people/shops that buy the entire consignment to flip on ebay. Everyone wants something new and in trend... the sizzle sells. But once the sizzle dies down then it's the next new thing that sizzles. People like whats new and trending, that's the thing that's hot in that moment. In Europe I remember new product launches, all they had to do is slap a red stick saying "NEW" on it and it would sell like hotcakes. Eventually it would find its market place but usually its never the same volume as when it was launched.
