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How To Flip a Coin Successfully

how-to-flip-a-coin-successfully

Silver coin flipping is sometimes confused with the act of spinning a coin in the air which is also called flipping a coin. Flipping coins for profit is simply buying coins at a good price and reselling them at a higher price. To successfully flip silver and gold coins for profit is not an easy thing to do. Most of the money is made by either the mint and/or the dealers. Those are the people who make the most money when it comes to profiting on silver and gold coins.

There are a couple of things involved in flipping; if you want to flip on eBay, one thing to keep in mind is that you are already approximately fourteen percent in the hole. That is if you charge the buyer for shipping, if you do free shipping then you are more in the hole than just fourteen percent. It is fourteen percent because ten percent goes to eBay and four percent goes to PayPal so you have already lost fourteen percent to logistics. Knowing what to buy in order to flip for a profit is an art that requires hard work.

If you know the art then you know what is going to be popular on the secondary market. Then you have to put in time and energy to make lists on eBay. Shipping out orders as well as filing takes a lot of work as well. You have to have trust in the person on the other side of the transaction because when you are selling on eBay, they tend to favour the buyer in any dispute. For instance, if a buyer says he did not receive any shipment, no matter what the seller says, eBay almost always favours the buyer. In this case what that means is that the buyer will be given a refund; so you lose both your money and your merchandise.

The art involved in flipping is knowing what to flip as well as knowing what to buy. Not every coin on sale is worth buying. Some coins depreciate in value over time which is why you should do some research before deciding on which coin to buy. One thing to consider is that there has to be more buyers for a product than the product itself. This is where the rarity of a coin comes in. If there are 200 pieces of a particular kind of coin in production, there has to be at least double of that number of people willing to buy that coin at a good price for it to be valuable.

There are certain coins that remain in high demand by collectors and there are others that lose value over time. If you happen to buy a coin that is losing value, it is best to sell it off because it will only continue to go downhill. Coins are not like cryptocurrency that fluctuate in value, most times a losing coin will keep on losing until it becomes valueless.

What to flip as well as who to flip to is also something you should consider. If you have a local coin shop, you might want to find out what they are interested in before buying your stash. A person who is not so confident in people he doesn't know might want to sell to his local community instead of selling online where there is always a risk of losing money. So if you are selling locally, it will profit you to do a little survey on what people around you are interested in buying before you buy any coin. Selling on eBay might give you more profit, but selling locally will save you the cost of shipping as well as the cost of using PayPal.

Local coin shops tend to favour old constitutional, numismatic coinage like rare Morgan silver dollars, peace dollars and others of that type. Which is why it is important to find out first what they are interested in. You might do some research online on what coins are selling only to find out that your local coin shop doesn't want it. Online research is for people who sell their coins online. If you are selling locally, do a local survey, talk to the people you plan to sell to.

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