by Recyclersteve » Fri Nov 29, 2019 4:34 am
Recently a guy I run into at coin shows told me he was interested in buying 1976 Bicentennial halves in average circulated condition for 55 cents each. I'm positive that these are not for him, but for resale. I told him I'd get him a bunch (this was a one shot deal) and decided to see what I could come up with. Well I went through approximately $1,550.00 (3,100 halves) to pull them out. I ended up getting 531 of the 1976 P and D halves, which is 17.1% of what I went through. I figure that whomever is buying them will likely keep them 10-30 years or more and I was glad to get them off the street! So even though that amounts to making only $26.55 in profit for the halves (not much at all when you consider the time it took to get them, go through them and return them) I made additional money on other transactions with him so it wasn't quite that bad.
Also, I did manage to get four silver halves when going through the boxes:
(3) 40%ers
(1) 90%er (1964)
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.