Any flippers out there?

[Carpe Diem]

Just wondering what people's thoughts are on flipping.  In other words, buying a certain coin with a view to selling it further down the line.

 

I've not yet got to the selling part, but I've picked up a few extra coins here and there and will be looking to turn a bit of a profit on them which can then be reinvested into more silver bullion.  I'd class myself more a stacker than a collector but still think as part of a diversified plan it's worth adding a few potential flippers to a delivery as it could pay off.

 

Anyone else gone down this route?  

[ChrisSilver]

To me flipping means buying with the intention to sell in the short term for a profit. Buying specific semi numis / numismatics which are likely to suddenly increase in the aftermarket as soon as they have sold out from the mint.

I think as soon as you can make a little bit of profit on something it is worth selling and reinvesting the money into something new. This way you will hopefully gain the largest percentage move in the shortest period of time.

[Carpe Diem]

Take the RM Lunar Horse 1oz for example.  This isn't one I'm looking to flip but this shows the potential demand for other coins, no?

 

£29 on ebay delivered with darlington coins?  That's a pretty healthy markup for the seller.

[watchesandwhisky]

I flip daily, it does help grow your stack there is no question, but id say there's actually a lot of work involved, photographing, listing, packing, taking to the post office ect. and the profits can be pretty minimal when you take into account ebay fees, paypal fees too. 

 

There is money to be made, but its not easy money.

 

It has however given me a very low DCA

[silversword]

My perception is that there's too much work for too little pay-off. I'm not a full-time coin dealer and nor do I want to be. Doesn't seem worth my while to be making - literally - a pound or two on flips. All my metals are for long-term.

[motorbikez]

To me flipping means buying with the intention to sell in the short term for a profit. 

 

That's also my interpretation of flipping,i do have a number of coins which are duplicates of my collection,but I buy the extra ones to pull down,or pound cost average coins bought from outside Europe.I sell the odd coin now and again if people express an interest in a particular series.I've only sold 5 coins this year.

[StackemHigh]

I started buying a couple of extras to up trade with

 

eg.

 

Purchased 3 kooks and 3 ASE and put them in storage for a year or two. Then when i trade a kook for a Panda i'll throw a ASE or two to sweeten the deal.

 

Not really flipping as such but a good way that i've found to upshift the quality of coins that i am holding.

[morezone]

When I started stacking/collecting I bought a few extra of this that and the other for trading at a later date.

I now carry multiples of all bullion and flip.  Some things I price high knowing it won't sell now but it's there ready for when the coin does hit that price point.  Saves me from having to keep records of what has been listed and what hasn't.

 

I do it along side my normal business so it's no big deal for me.  The % return after fees is relatively small and the number of scammers out there is HUGE.

[SilverPirate]

What scam do the scammers use? So we can try to have something in place to help protect our self's.  

[morezone]

Item not received. Unauthorised Pay Pal payment.

Hacked Pay Pal account.

Hacked eBay account.

To avoid these scammers you must send everything by a trackable service to be protected by Pay Pal.

[SilverPirate]

Item not received. Unauthorised Pay Pal payment.

Hacked Pay Pal account.

Hacked eBay account.

To avoid these scammers you must send everything by a trackable service to be protected by Pay Pal.

Many thanks.there is some scum bags out there.