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Last Updated (Friday, 30 December 2011 09:30)

 

COINS ARE THE WAY.

Yes I have been a bear on gold and silver but there is a way to play this market and it is with high grade coins. The difference between a coin that grades good and one that is in mint state can be thousands of dollars.

 A coin that you find that is in wonderful condition can be mailed to NGC or PCGS for grading and if it is returned to you grade MS 60 to 70 you now have a treasure. For example I purchased a silver dollar for $35 and sent it off for grading, when I received it back it graded MS 66 and was worth $875. Another coin I had graded was a 1909 SVDB Lincoln penny which I purchase for a few hundred dollars, it graded VF and sold for over $1000. These services cost about $30 per coin but they are well worth it. You can find out more about these services on line by going to their websites.

 The best way to take advantage of the coin market is to ask everyone you come in contact with if they have coins to sell. Often you will find that people have coin that have been left to them by relatives or friend and the coins have very little meaning to them, so when you offer well above face value for their coins often they will sell them.

 However to be able to grade coins you will need a guide and the best book that I have found on grading is PHOTOGRADE by James F. Ruddy. It shows different coins in all their states from good to MS. The only other book that I would recommend would be The United States Coins by R.S Yeoman. With these two book you are on the way to finding treasure regardless of what gold and silver do.

 Break that old piggy bank because you may be surprised at what you find inside. I will be spending more time on coins because I believe that is where the money is at the present time. I will be a big buyer of coins so if you have any to sell please contact me.

Last Updated (Friday, 16 December 2011 09:25)

 

WHEN CAN WRONG BE RIGHT FOR “ GOLD AND SILVER” ?

 I have been a critic of gold and silver for several years but they proved me wrong for the last year. Yes I recommended selling gold and silver at much lower levels than they obtain this year, but was I wrong?

 To me gold and silver are nothing but commercial metals but others still see them as hedges against bad times. I have often ask if I owned a pig and you owned a gold brick would I trade with you during a depression? I don't think that I would trade because I couldn't eat the gold brick.

 This run up in prices has been created by unscrupulous people scaring the population that they were going to lose everything and gold and silver would save them. Have you noticed how many of the gold commercials are no longer running on television, that is because those that bought in at the highs have lost about ½ of their money and I believe this down turn has further to go.

 There is no justification for gold prices reaching $2500 or silver topping out at $50 but the scam artist have made there money, now time will tell how the people that bought all this gold will fair. I don't believe they will fair very well. To me if a person starts to look at stocks it may prove to be very profitable here because the dollar is rallying and in my opinion stocks are under valued.

 There is however still a way to make money with gold and silver and it is with coins. I will explain this tomorrow. I am glad to be back but during my trip there might not be a blog everyday because of not having access to the Internet. After the first of the year we will get back on track but I need our members to give me direction on what they would like me to cover.

Last Updated (Thursday, 15 December 2011 15:19)

 

WHAT IS CHEAP ?

 

Over the last few months I have had to re-evaluate my buying programs. The reason for the change in my thinking is that retail prices no longer exist and therefore the 25% rule no longer works. You may ask what was the 25% rule if you haven't read my book “ 31 Steps to Your Millions “ and the answer is we always wanted to make our purchases at 25% or less of the retail price.

 So what do we do now? First let me give you examples of today's markets. I listed a painting by Jean-Peirre Dubord that should have had a retail price of $5000 on eBay with a starting price of $1250 and didn't receive one bid. Next I listed several pieces of good Nippon with values from $250-$500 and they brought less than $100 each. Even at the better auctions prices can't be predicted. The latest Rookwood auction didn't even achieve 50% of what the past action would have reached.

Yes you may see a comic book sell for $2,600,00 and a historic document bring $7,000,000 but I don't know of anyone that owns these. It seems that there are still people that have so much money that they purchase items at outrageous price just so that others will talk about them, but I don't think they will be our buyers.

 Here is the best advise I can give you for purchasing items today, make your offers where they even seem ridiculous you. I promise some of your offers will be accepted because the seller can't find anyone that will even offer as much as you did. Now you may have a chance at making a profit. I no longer am beating myself up about offering to low a price to the seller because I am still in this business to make a profit.

 I had one of our members ask me about a toy boat, that was pulling a car, and it was still in the box. I believe he thought the toy was worth thousands but I didn't. My answer was that after some research my appraisal would be $300-$500. This seemed low to the member but they weren't willing to wait the 3-6 months for a toy auction so it was listed on eBay where it brought $300. Now is a time to be safe rather than sorry.

 Please write me about problems you are running into so that I may share them with the other members.

Last Updated (Wednesday, 14 December 2011 15:12)

 

I'M BACK

Yes I'm back and thanks for all the wonderful notes asking if I was okay.

From now till the first of the year I will be posting general blogs plus
 a few requested by our members. These will be subjects like "What
can we do in these markets." Also I will be sharing the direction I hope we can go next year to insure success.

I will be away from the 17th till the 26th but after that we will get back on the program to success. 

For now I want to wish all my Reader's a " MERRY CHRISTMAS
& HAPPY NEW YEAR."

Last Updated (Tuesday, 13 December 2011 16:45)

 
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