[QA]Can a person with about $1000-$2000 make a profit buying pandas...

Discussion in 'Modern Chinese Coins & Medallions' started by Honestcoins, Apr 20, 2012.

  1. Honestcoins

    Honestcoins New Member

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    Question needing a frank and honest answer.

    I know very very little about the panda market so i am looking for an seasoned response. Not a promise, just a general intuitive answer...

    Can a person with about $1000-$2000 make a profit buying pandas in omp, getting them graded, and flipping them in a six month time frame, assuming spot remains flat.
     
  2. fishball

    fishball New Member Silver Stacker

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    If you have a keen eye and can pick out good coins then yeah you can.

    If you get a 70 grade coin it could be worth from $200-$3000 (or more) depending what it is.

    Pandas don't really follow spot price either so it doesn't matter what spot does.
     
  3. Honestcoins

    Honestcoins New Member

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    How do you suggest i use a keen eye to purchase pandas? Most pandas in the united states seem to get sold online and the pictures are rarely high detail, or are stock photos.
     
  4. shano73

    shano73 Member

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    Hi Honest,

    You might want to chat to Yennus, Fishball, Maggie, Musemellow, Zinger, JC888888 or Comeaux, these guys really know what to look for in OMP.

    A few of these guys have sourced all of my OMP Panda's and I havent been dissapointed yet.

    They do not choose crap coins.

    I personally wouldnt buy OMP Panda's off online shops etc cause you never know what condition they might be in, I would buy only graded ones.
     
  5. fishball

    fishball New Member Silver Stacker

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    If you're buying online aim for reputable dealers & try to buy whole sheets as opposed to loose coins.
     
  6. Honestcoins

    Honestcoins New Member

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    Do all silver 1 oz pandas still come double sealed? I thought i remembered reading somewhere recently that they didnt.

    Thanks for the responses thus far.
     
  7. yennus

    yennus Well-Known Member Silver Stacker

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    Hard to guess a grade without seeing the coin in person (even with detailed photos)... if you have access the coins before purchasing (like at auctions), then it is easier to pick winners.

    But yes, most people, after doing their homework, if they have access to Pandas in OMP, should be able to make a decent return on graded Pandas.
     
  8. musemellow

    musemellow Member

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    If you have around $2000- $3000 range you should be able to buy a mint sheets panda,
    As Fishball mentioned try to find pandas in mint sheet than loose omps (easier said than done)

    I think instead of expecting for MS/PF 70 you should aim for 69s,

    make sure that the price for the omp pandas + grading cost is less than the value of the coins if all were graded 69s --> profit
    so getting a 70 will just be an icing on the cake, since you know that you will get profit out of 69s

    it is fairly difficult to get a 70 unless you are able to handpick the coins like Yennus does.
    Even after you found a flawless coin, the fate of your coin will still be in the hands of NGC grader
     
  9. Honestcoins

    Honestcoins New Member

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    Are there any particular places panda lovers like to go online to look for sheets of omp pandas? I can look on ebay, but in general prices are usually higher there
     
  10. yennus

    yennus Well-Known Member Silver Stacker

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    The Panda Forum @ SilverStackers! :) eheheh... that's where I've picked up a couple of sheets :)
     
  11. Honestcoins

    Honestcoins New Member

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    Can you post some figures or pm them to me just to give me a general idea? Like how much did that sheet you bought off jc cost that yielded all 69's(if you don't mind my asking).

    Did you also get those conserved?
     
  12. yennus

    yennus Well-Known Member Silver Stacker

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    Wow... we is getting deeply intimate now...

    Send JC88888888 a message, I don't mind sharing the deal details, but he might.

    Yep, I conserve all my coins.
     
  13. Honestcoins

    Honestcoins New Member

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    Bump

    Btw, i really appreciate you guys taking the time to answer my questions. I am very interested in pandas but i realize there is more to them than going to apmex and buying a few. I don't want to enter the battlefield half-cocked and get destroyed :)

    Oh, and i did read the two pinned how-to threads in here!
     
  14. yennus

    yennus Well-Known Member Silver Stacker

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    Double sealed days ended in 2005. Now they come in capsules.
     
  15. Honestcoins

    Honestcoins New Member

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  16. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Watching this thread with interest...

    Of course I would have to get over my Panda and slabbing predjudices, I just don't like spending a ton of money on modern coins and then spending some more money to have a stranger tell me if they are any good or not.

    Plus I secretly think they will steal my MS70 coins and send back inferior ones.

    However if the returns on $2000-$3000 made it worthwhile, why not?
     
  17. Honestcoins

    Honestcoins New Member

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    Watch that video, their security measures look pretty strict. Other than the fact that is shows the coin graders handling coins with no gloves...........wtf?

    I am apprehensive about spending so much on grading as well. But if i can reliably make money doing it.....like you said, who cares that it cost me more? Hence all the questions!
     
  18. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    When my boss comes round I look pretty busy too, having a videocamera on you keeps you honest, but when the camera crew have left...

    I have nothing to even hint that they would or could substitue coins, but when you are dealing with human beings, who like things, and feeding their family, and the difference between your MS70 and their MS69 could be $1000s, then I do not trust human nature enough to let them grade without me supervising. Hence I have no slabbed coins.
     
  19. Honestcoins

    Honestcoins New Member

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    The camera crew doesn't leave, that was my point. There is a camera above everything, lol.
     
  20. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Well, the post office worker will probably steal it then!

    I have a lot of issues around expensive things coming and going in the post, despite only having lost 2 or 3 items many years ago in the UK and nothing recently.

    Still keen on buying a slab of coins though, less chance for substitutions, not so keen on slabbing.
     

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