Saving $ after the sale.

[Beachkid23]

Beach, my friend Angela did the Dave Ramsey thing. She was incredible! She went to a huge extreme. I am not sure if she has it all on her site, her whole story. She was featured on something of his as a success story. But she did drastic stuff like cut out heat in the middle of the winter (they live in the mid-west), among other things. http://groceryshrink.com/ She has a newsletter you can sign up for. The last few months I have been making enough to pay off my credit card bill. I finally took a deep look last month when I ran up 5K in purchases. I really sweated that one out, trying to make enough money to pay it off. (I did, yay!) Like you said, I felt like I was on a treadmill, just keeping slightly ahead of my credit card bill chasing me from behind. I think having a plan is a great idea! Congrats to you on doing this. I'm just curious .. how much time to you put into shopping and how much time do you spend listing? It's also very true about wants vs needs. It is something I've been working hard on. I think twice before I say "I need". Cuz most times I don't really need it. I just want it.

I will definitely check out the newsletter. Thank you very much for that. I've been trying to list more than I buy lately and we're going out of town for 10 days so I ended all my listings. But while I'm gone we're going to run close to 100 auctions. So I buy A lot often that I list but I do average about 120 sales a month. This month so far it's 140 with 90 more starting on Saturday. So I've been trying a lot harder to get a lot more for Christmas time.

Kind of off subject but I just got a call on the coin collection and the guy wants $30,000 for it. Silver value alone's $54-60,000. So there's a good possibility I'm maxing out my credit card when I get back. So you guys might see some silver quarters for sale on the site because there are 5; 5 gallon water jugs full of them. Largest coin hoard I've ever seen!! This person trust no one. He wants no one but me to come into his house besides one other person to help move them and he has to screen them before he even made some so we have to meet at a store somewhere else first or restaurant. He's kind of a creepy dude but if you wants $30,000 for his quarters I think we can work something out! To me that's life-changing money right there. I mean it's not $1 million but I think there's more than $60,000 worth in there anyways if they are also over and also if there some key dates in there plus stuff that's older than Washington quarters. He said all of it was his moms and grandmothers. There's also 900 Morgan silver dollars as well. Over 30 gold coins from $1 up to $20. And he estimated about 15 pounds of silver half-dollars as well. I've already seen the corders just mind blowing how many are there I just haven't gotten the dumping out them to make sure they're all silver but it sure looks like it from the sides. The $30,000 is only for the quarters though. but he said he will gladly sit on everything else until I have the money to buy it.

This scenario right here is what I dream/dread! It has the potential to change our family's income for a long time. And it also puts us in a ton of debt right away as well. And how fast can they be sold where to sell them obviously not the coin dealers because I won't make back very much. I think I have somebody who is rich enough to buy all of them catch I'm pretty sure I haven't mentioned them to him yet but he's the biggest coin collector I've ever met. And he has more money than brains and he loves silver.

So I'm not sure what's going to happen with us yet I won't know until the beginning of the year however again I might know as soon as next Monday as well. I've actually found somebody to front half the money as well without the seller knowing that because he would not go for that at all. Which I don't know why he cares how he gets his money as long as he gets it but whatever.

But it goes back to the whole thing of not going into debt and that will be the most amount of money I have on the card ever my wife time and I think I can cash advance all the way up to $25,000 and I have the rest if the guy decides not to go half which would be foolish on his part.

I think I'm going to read up on the Dave Ramsey stuff. I've never really looked at it all that much so I don't know we've heard about it in our church is preached about it but I've never really looked into it or read it personally. I don't know if he can agree on taking out $30,000 in credit card debt to buy things... So I think that's going to have to be personal choice that my wife and I make however she's in agreements with me. So if you see on the classifieds silver quarters for sale it's probably mine. I will run a special if you went buy anywhere from one roll up to as many as you want no matter how much it is! Even though I don't want to going to dad buying them I don't think I can sleep passing the steel off to somebody else the size of the debt is scary but the size of the reward is...... I wonder how much of it I would try to keep though.... Once it's all paid back and something like this would also be hard to sell for me. I could pay back the initial and probably make a good chunk of change and then want to keep probably at least one jug full!

We will see but until then have a Merry Christmas, I'm headed to Greenville South Carolina... guess for going to go feed animals out of the car from when I was told and hopefully go find some snow in that state so my kids can see it because I never have! Have a fun safe holiday!

 

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[dieselram94]

Beach, please do not take a cash advance to do this deal. The interest charges are sky high and it will also diminish your credit score. Dave Ramsey would also never suggest doing that. Can you just buy some for now with your cash and as you sell some stuff off buy more? It's your money and you can do what you want but the risk is way to high...


Sent from an empty soda can!

 

[trdhrdr007]

If you can buy it for less than spot there is very little risk. I bought a large coin collection a couple years ago. As soon as I had it in hand I contacted Apmex. They gave me a buy price on the junk silver, I boxed it up & sent it registered mail insured for the entire amount. Two weeks later I had a check in hand.

There are 3 big areas of risk with this deal. First, if you take to long to move the quarters you are exposed to the risk of cahnges in the spot price. Second, you have to be absolutely certain it really is worth more than you are paying. At the very least I'd be making random checks for fakes by acid testing & weight of individual coins. I'd also verify that every quarter in the jugs was in the right date range. Finally, what happens if you show up with $30k in cash & you are robbed.

 

[Beachkid23]

Beach, please do not take a cash advance to do this deal. The interest charges are sky high and it will also diminish your credit score. Dave Ramsey would also never suggest doing that. Can you just buy some for now with your cash and as you sell some stuff off buy more? It's your money and you can do what you want but the risk is way to high... Sent from an empty soda can!

Well the advances 8% and it's through our credit union. They won't give us a personal loan on anything anytime we want to try or have tried in the past they tell us to use our credit card instead and just take the advance because the interest rates the same. And I have a cash buyer for what I put into it lined up who will fly to Florida to buy whatever I want to sell them so now I just have to get the coins. He actually said he'll front me the money but he wants to go through everything before I do. And I don't like that idea at all. Or I could give him all of it for what I'm buying for it and then he would give me like a $5000 finders fee. Which sounds stupid at the same time. I have been after this collection sent silver was $46 an ounce and now he's willing to sell he's afraid it's going to go lower. But I won't know anything about it until after Christmas unless I get a phone call while I'm on vacation.

 

[trdhrdr007]

What are you basing your value estimate on? I tried a search on google for how many quarters fit in a 5 gallon jug & numbers ranged from 4000-23,000. That's a pretty wide range.

 

[Beachkid23]

What are you basing your value estimate on? I tried a search on google for how many quarters fit in a 5 gallon jug & numbers ranged from 4000-23,000. That's a pretty wide range.

Well I'm going to take one of them for sure home and count it. Based off of that I'm going to buy the rest mostly when I read up I found average to be about 4000 corders. If it ends up being 20,000 corders then $30,000 isn't even a fair estimate so deafly going to have to calculate out how many air are in there. To be honest we will probably figure out how much the glass jar ways and then away the thing with the coins and it would be the smart idea. Then go from there. So $30,000 is what he was hoping to get for all of them. However if we get into it and there's $80,000 and one jug then we're gonna have to do some different figures. We're not planning on ripping anybody off here on this. We want the deal to be fair for him and myself as well so that's what he threw out there and that's what we're going to start with but it figures change then I will be looking for someone with deeper pockets. Or just do one at a time. 20,000 corders would be sweet!!! I can't imagine that many though! 20,000 Barber corders looking better though!! It's hard to tell exactly what they all are in the dates there so many on the bottom and you can only see the jug in the front there still four more behind it in the closet. I can't even move them by myself. I will need a dolly and help however who knows it may fall through to but the goal is to get at least one of them here shortly.