I think I learned something today.

Hi All!

As some may know, I'm trying to combine my collecting with buying and
selling coins. Since there was a coin show today I thought I'd go and do a
little vest pocket dealing. Now I have amassed a lot of coins and at
generally decent prices, so I thought I would be able to move a lot of coins
to the various dealers. I did manage to sell some things, but not as much as
I thought I would.

First off, my prices were not terribly out of line. My problem was I did not
have a lot of what the dealers were looking for. I had a lot of Morgans,
Peace Dollars, Barber Halves, WL Halves, Franklins, Liberty nickels, Barber
dimes, Mercs, wheats, etc, but not a lot of the good dates. Lesson learned:
good prices aren't enough if you don't have what people are looking for. So
my plan of action now is to concentrate on better dates.

Second thing I learned was that a lot of dealers don't want to mess with
gold pieces. I had an 1899-S half eagle and it was tough to move for $140.
Had a 1864 quarter eagle that was a cuff-link in a former life which I sold
for melt. But it was tough to get someone interested.

Did I make any money there? Not very much. BUT I HAD FUN!!! I got to sit
down and talk to a lot of decent sellers (a couple gave me sales when I had
something someone was looking for and they didn't) and I learned a bit about
coin dealing. So even if I had lost my shirt today it was a cheap education.

Anyhow, I thought I'd share my experience with the group since there is the
occasional query on here about how to get into coin dealing. Maybe one of
these days I'll be ready for prime time!

--
Ken Knapp
www.rktreasures.com

Ken Knapp let the group know about this:
Anyhow, I thought I'd share my experience with the group since there is the
occasional query on here about how to get into coin dealing. Maybe one of
these days I'll be ready for prime time!

It sounds like you furthered your knowledge of "supply and demand" and
expanded your numismatic horizons at the same time, Ken. This made it a
successful show for you to have a part in. This reminds me of my
maternal grandfather, who had only a third-grade education and was an
Arkansas dirt farmer all of his life. He once filled me in on some
country wisdom back when I was a kid. He said, "Son, ain't nothin' worth
nothin' till somebody wants it. And dependin' on how bad they want it,
the selling price is determined."

Larry
'all the good guys have double initials'

"Larry Louks" wrote in message
...
Ken Knapp let the group know about this:
Anyhow, I thought I'd share my experience with the group since there is the
occasional query on here about how to get into coin dealing. Maybe one of these
days I'll be ready for prime time!

It sounds like you furthered your knowledge of "supply and demand" and expanded
your numismatic horizons at the same time, Ken. This made it a successful show for
you to have a part in. This reminds me of my maternal grandfather, who had only a
third-grade education and was an Arkansas dirt farmer all of his life. He once
filled me in on some country wisdom back when I was a kid. He said, "Son, ain't
nothin' worth nothin' till somebody wants it. And dependin' on how bad they want
it, the selling price is determined."

Larry
'all the good guys have double initials'



Speaking of country wisdom.......

My father told me that he liked to buy for a dime and sell for 20 cents,
making 10 cents profit. He said......"that 10% profit is good enough for me".

Then he would have a big laugh :-)

Dale

Dale Hallmark added to the mix with the following:
Speaking of country wisdom.......

My father told me that he liked to buy for a dime and sell for 20 cents,
making 10 cents profit. He said......"that 10% profit is good enough for me".

Then he would have a big laugh :-)

Ha! Yep, that reminds me of the story of the old country preacher with
little education who was preaching to his flock back in the Great
Depression days. He labored from the pulpit one Sunday, telling the
faithful that the church was in a financial crisis. Then he added, "Dear
hearts, I know that times are hard, and most of you can't give a tenth.
But the least you can do is give a fifth."

Larry
'fractions and percentages can be tricky"

On Sun, 06 Feb 2005 07:33:30 -0600, Larry Louks wrote:

Dale Hallmark added to the mix with the following:
Speaking of country wisdom.......

My father told me that he liked to buy for a dime and sell for 20
cents, making 10 cents profit. He said......"that 10% profit is good
enough for me".

Then he would have a big laugh :-)

Ha! Yep, that reminds me of the story of the old country preacher with
little education who was preaching to his flock back in the Great
Depression days. He labored from the pulpit one Sunday, telling the
faithful that the church was in a financial crisis. Then he added, "Dear
hearts, I know that times are hard, and most of you can't give a tenth.
But the least you can do is give a fifth."


that is why preaching is totally separated from the state and now we are
giving only a second, I wish old times got back ;-)

Andy
Larry
'fractions and percentages can be tricky"

I guess I'm headed a little OT here, but there's a saying going around the net;
something like:

"The best education you can get is while sitting at the feet of an old person."

Larry, Grandpa was a wise man.

Jerry

"Larry Louks" provides:

Ken Knapp let the group know about this:
Anyhow, I thought I'd share my experience with the group since there is the

occasional query on here about how to get into coin dealing. Maybe one of
these days I'll be ready for prime time!

It sounds like you furthered your knowledge of "supply and demand" and
expanded your numismatic horizons at the same time, Ken. This made it a
successful show for you to have a part in. This reminds me of my
maternal grandfather, who had only a third-grade education and was an
Arkansas dirt farmer all of his life. He once filled me in on some
country wisdom back when I was a kid. He said, "Son, ain't nothin' worth
nothin' till somebody wants it. And dependin' on how bad they want it,
the selling price is determined."

Larry
'all the good guys have double initials'