by Recyclersteve » Wed Dec 31, 2014 2:09 am
There are much easier ways to make money than with errors. One of the big problems with errors is this... You could find something really exciting and rare. You show it to ten or twenty people and nobody wants it at anything close to a decent price. You could have to hold onto it for years to get even a small portion of what you were expecting.
Of course, there are exceptions to everything. An exception could be as follows. You find a fairly wealthy error collector who loves to buy errors but doesn't want to spend a lot of time looking for them. Work out some kind of deal with this person and hope that he offers a fair price for the tremendous amount of time you have to invest.
Try making contact with a group of VAM collectors. They specialize in silver dollars. Lot's of people don't actively search silver dollars for errors, hence the opportunity to find VAM's. I had a friend who was interested in VAM's, but he lost interest a few years ago, so I don't know whom to check with now.
By the way, don't ask me what VAM stands for. I'll let you look this one up on the Internet yourself.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.