small deals can be big thrills...

One of the thrills I also get with the hobby is when I find the occasional bargain. Recently I was scanning through the lesser viewed pages of an on-line auction site that has been dying out.

Listed at auction and ending in less than 1 hour was a 3-coin, graded PCGS Congress 1989 Commem set. Opening bid was at $280 for the half, silver dollar and $5 gold coin ( 1/4 ounce). I did some quick math in my head...15% fee would be 28 +14.... = $42..$322 total for a $280 bid. 4x 322 is $1288 which was almost the exact amount of gold at the time..so I did a little more factoring.

If I could sell the half and silver dollar for around $40--that meant I could bid $320 max bid, resell the half and dollar to cover the buyers fees and get the gold coin for roughly melt cost.

So I bid the $320 and let it ride. A few hours later I checked the auction to see the results--good news!! The 3 coins hammered at the opening bid of $280. So I'll still sell the other 2 coins since I don't collect them and the 1/4 oz gold coin will be bought at the $280 or $1120 per oz rate..not a bad little deal.

I'm not making a large score when I find these small deals, but it is always nice to find a purchase that you know can be liquidated in the future for a small profit if I'm ever in need of some funds ( instead of small losses which most of us take when we resell and are paying fees and shipping costs on both ends.)

Anyhow, just thought I'd share the story in a journal so that I can re-read it in the future and remind myself that some of the time I spend perusing websites and auctions can actually pay off into real vbalue...happy hunting e1 and may you all find a few bargains on occasion.....

To see old comments for this Journal entry, click here. New comments can be added below.