kaiser613
Jr. Member
- Aug 23, 2013
- 63
- 8
- Primary Interest:
- All Treasure Hunting
hello all, I have a question for the experts roaming around the forum, ive starting making some money from crh and numismatics in general and the more I make the more I think about reinvesting that money in coin, when you grow up dirt poor you get pretty frugal and I want to know what the best deal available is, ive been looking into various venues for purchasing large quantities of coins at wholesale prices and ive managed to categorize these sources into various groups, I would appreciate it if yall could take a look at my notations and tell me which sources are legit and which ones are sh#t. if any of you have any personal experience with these companies and would like to post a review that would be very helpful.
here are the various sources of coins at resalable prices ive found.
1. ebay auctions
a. bulk single category coins- anything along the lines of " 5 lbs unsearched wheats" , "40 large cents" , " 10lbs copper pennies" , or " 100 buffalo nickels" . basically these are people who have a certain amount of a certain type of coin that they list as an auction, I don't trust these because.
A. its an auction not a buy now, the guy is just after as much as he can get plus hes not an established seller with consistent sales and quality feedback
B. almost everyone ive spoke to who has purchased these say that the coins are always very searched, culls, or otherwise worthless
as far as I can tell these are only worth buying for copper bullion or silver ( but the silver is always sold by weight at 90% prices and its all war nickels"
b. mixed lots- similar to the above but instead its of a mixed lot, has all the cons but now its even worse because you could be getting any kind of junk, these people make profits off of dumb people who will believe anything you write in the title, they build up these piles of junk by using words like " huge", "amazing" , " estate sale" and a lot of exclamation points. the picture is always some ridiculously unrealistic picture of a pile of gold eagles mixed in with $2 bills
wouldn't touch em with a ten foot pole ( and I don't much care for the poles either!) lol just kidding
2. ebay buy nows
a. bulk single variety- a buyer offering a fixed quantity of a specific style of coins for a fixed price, far more trustable that the auction version, typically only run by reliable sellers who take pride in the quality of there product which they supply on a regular basis, a bit more reliable but still wouldn't touch unless it was a well trusted seller and at a very good price.
b. mixed lot- these however are just as untrustable as the auctions, typically a 1 pound bag of junk foreign coins or similar garbage, with one exception, there are some reliable guys selling mixed us coins on ebay such as this one 1 2 Pound Obsolete USA Coin Lots ?best Mix on Ebay? | eBay I have to say this guy looks legitimate, there are other sellers in the same class but this one seemed to be the best deal. these guys typically make 3 specifications on the product received.
A. age, most promise all will be pre-1960
B. silver content, for example this guy promises at least 3 oz of every half pound will be 90% silver coinage
C. bonuses, although not as much with ebay sellers they typically proclaim " 1 silver dollar for every X amount purchased" ( usually 1 per 200 purchased)
I feel this guy is trustable and that the coins received would meet the terms, as for their condition Im not too sure, and it may very well be rife with wheats. price comes out to about 1.80 a coin.
3. private companies operating from their own site.
a. bulk single variety- 1000 pc bag indian head cent g-vf, 10,000 pc bag mercury dimes 500 full date buffaloes ect. ect. they sell large bags of a single style of coin, usually with an emphasis on silver, I use Buy Gold Online, Coins, US Mint Sets, Morgan Silver Dollars, Silver Proof Sets as an example, I assume this is how most dealers or serious numismatic investors purchase medium grade coins.
b. wholesale mixed lots- what I really wanted to talk about, this has really peaked my interest, basically these companies buy up huge amounts of mixed coins from estate sales hoards dealers ect. and these bag them up and sell them for resale, I imagine this is how most dealers stock a new store because such a broad spectrum of soins can be bought at 1 time. I have two sources for this style purchase, they differ mainly in scale and price of purchases, other than that these companies are so similar that either they are run by the same guy or they are in such fierce competition with eachother that they imitate the other. one is coinhappy MIXED U.S. COINS WHOLESALE BARGAIN BOX - CoinHappy.com their prices are lower as well as the size of their orders and they offer 1 old style silver dollar per 100 coins, then there is this Wholesale Bargain Box their prices are higher, you have to order more, and they offer 1 silver dollar per 200 coins but for some reason I feel that they are more reliable and that they could be trusted more. I really want to know weather or not these guys are for real, and if I order the largest lot they offer could it be resold for a profit piece by piece.
that's all ive got together so far, I would really like to know if these giant wholesale mixed lots are for real and weather or not this is how large dealers get their stock. HH
here are the various sources of coins at resalable prices ive found.
1. ebay auctions
a. bulk single category coins- anything along the lines of " 5 lbs unsearched wheats" , "40 large cents" , " 10lbs copper pennies" , or " 100 buffalo nickels" . basically these are people who have a certain amount of a certain type of coin that they list as an auction, I don't trust these because.
A. its an auction not a buy now, the guy is just after as much as he can get plus hes not an established seller with consistent sales and quality feedback
B. almost everyone ive spoke to who has purchased these say that the coins are always very searched, culls, or otherwise worthless
as far as I can tell these are only worth buying for copper bullion or silver ( but the silver is always sold by weight at 90% prices and its all war nickels"
b. mixed lots- similar to the above but instead its of a mixed lot, has all the cons but now its even worse because you could be getting any kind of junk, these people make profits off of dumb people who will believe anything you write in the title, they build up these piles of junk by using words like " huge", "amazing" , " estate sale" and a lot of exclamation points. the picture is always some ridiculously unrealistic picture of a pile of gold eagles mixed in with $2 bills
wouldn't touch em with a ten foot pole ( and I don't much care for the poles either!) lol just kidding
2. ebay buy nows
a. bulk single variety- a buyer offering a fixed quantity of a specific style of coins for a fixed price, far more trustable that the auction version, typically only run by reliable sellers who take pride in the quality of there product which they supply on a regular basis, a bit more reliable but still wouldn't touch unless it was a well trusted seller and at a very good price.
b. mixed lot- these however are just as untrustable as the auctions, typically a 1 pound bag of junk foreign coins or similar garbage, with one exception, there are some reliable guys selling mixed us coins on ebay such as this one 1 2 Pound Obsolete USA Coin Lots ?best Mix on Ebay? | eBay I have to say this guy looks legitimate, there are other sellers in the same class but this one seemed to be the best deal. these guys typically make 3 specifications on the product received.
A. age, most promise all will be pre-1960
B. silver content, for example this guy promises at least 3 oz of every half pound will be 90% silver coinage
C. bonuses, although not as much with ebay sellers they typically proclaim " 1 silver dollar for every X amount purchased" ( usually 1 per 200 purchased)
I feel this guy is trustable and that the coins received would meet the terms, as for their condition Im not too sure, and it may very well be rife with wheats. price comes out to about 1.80 a coin.
3. private companies operating from their own site.
a. bulk single variety- 1000 pc bag indian head cent g-vf, 10,000 pc bag mercury dimes 500 full date buffaloes ect. ect. they sell large bags of a single style of coin, usually with an emphasis on silver, I use Buy Gold Online, Coins, US Mint Sets, Morgan Silver Dollars, Silver Proof Sets as an example, I assume this is how most dealers or serious numismatic investors purchase medium grade coins.
b. wholesale mixed lots- what I really wanted to talk about, this has really peaked my interest, basically these companies buy up huge amounts of mixed coins from estate sales hoards dealers ect. and these bag them up and sell them for resale, I imagine this is how most dealers stock a new store because such a broad spectrum of soins can be bought at 1 time. I have two sources for this style purchase, they differ mainly in scale and price of purchases, other than that these companies are so similar that either they are run by the same guy or they are in such fierce competition with eachother that they imitate the other. one is coinhappy MIXED U.S. COINS WHOLESALE BARGAIN BOX - CoinHappy.com their prices are lower as well as the size of their orders and they offer 1 old style silver dollar per 100 coins, then there is this Wholesale Bargain Box their prices are higher, you have to order more, and they offer 1 silver dollar per 200 coins but for some reason I feel that they are more reliable and that they could be trusted more. I really want to know weather or not these guys are for real, and if I order the largest lot they offer could it be resold for a profit piece by piece.
that's all ive got together so far, I would really like to know if these giant wholesale mixed lots are for real and weather or not this is how large dealers get their stock. HH
