LJ
Silver Member
- Dec 23, 2006
- 3,469
- 17
- Primary Interest:
- All Treasure Hunting
This is something I have been thinking about for a while now. I have been keeping all that I find during CRH'ing knowing that wasn't a real market for these impaired proofs But didn't want to turn them back into the wild.
About two weeks ago I figured I would run this by the owner of the local coin dealer on my next trip there to buy the half dollar protectors. I wanted to do this in person and not over the phone because I thought my chances would be better this way. It worked out just like I planned and hoped it would.
I went in today to get the protectors and just started browsing around the store making small talk with the employees until I got the owner one on one. Our conversation moved into his office when I asked him if he had a market for circulated proofs knowing what his answer would be.....no.
After a little more conversing on this subject I mentioned the possibility of him selling them from his "bargain bin". I saw his expression change on his face and knew right then my plan had a chance. I told him they were like old lettuce....nobody wanted it but you could feed it to a rabbit....lol.
He asked me how many I had and where I got them from which I replied I got them from a bank (which I did) and had about 40-50. He said someone must have broken sets up which I agreed. He told me he would give me $1 for each proof without even seeing them. He then explained he would check the gray/grey sheet for each & mark them down to half price and put them in the bargain bin.
We both agreed these impaired proofs were not for the serious coin collector and would probably be purchased by the younger cost conscious group.
I was happy when I walked out knowing I will make 100% profit on each proof which isn't alot of money but at least I can move them and make a profit.
I just wanted to share this because this is something we have discussed a few times previously. You might want to check with your local coin dealer. Good luck.
About two weeks ago I figured I would run this by the owner of the local coin dealer on my next trip there to buy the half dollar protectors. I wanted to do this in person and not over the phone because I thought my chances would be better this way. It worked out just like I planned and hoped it would.
I went in today to get the protectors and just started browsing around the store making small talk with the employees until I got the owner one on one. Our conversation moved into his office when I asked him if he had a market for circulated proofs knowing what his answer would be.....no.
After a little more conversing on this subject I mentioned the possibility of him selling them from his "bargain bin". I saw his expression change on his face and knew right then my plan had a chance. I told him they were like old lettuce....nobody wanted it but you could feed it to a rabbit....lol.
He asked me how many I had and where I got them from which I replied I got them from a bank (which I did) and had about 40-50. He said someone must have broken sets up which I agreed. He told me he would give me $1 for each proof without even seeing them. He then explained he would check the gray/grey sheet for each & mark them down to half price and put them in the bargain bin.
We both agreed these impaired proofs were not for the serious coin collector and would probably be purchased by the younger cost conscious group.
I was happy when I walked out knowing I will make 100% profit on each proof which isn't alot of money but at least I can move them and make a profit.
I just wanted to share this because this is something we have discussed a few times previously. You might want to check with your local coin dealer. Good luck.
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