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lmwstamps

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  1. lmwstamps

    What's your standard vetting / fake-detection method?

    Most of my purchases are in person, so I typically vet before I buy. Since I focus on vintage silver rounds and coins, I make it a practice of researching what has been faked. I rely primarily on experience of having seen and purchased the same items before. If something looks off with the coin, I pass. As an aside, whether or not you choose to purchase off of eBay, it is a good reference point.for seeing what coins should look like. If you don't trust ebay then go to online dealers or google images. For the coins I don't buy in person, I typically vet the seller first. If I don't get a good feel for the seller, I pass. Next I vet the coin. If it's not something I've seen before I try to find others like it for comparison. If I do end up making the purchase and I have doubts about it, I test it on the Sigma Metalytics PMV.
  2. lmwstamps

    Gold to silver ratio.

    To answer the OP's question, I think there may be several reasons that the gold/silver trade doesn't occur very often. The primary reason is probably that both gold and silver are somewhat out of favor right now, with silver being a little more out of favor. At the end of the day, a trade occurs between individuals who each have something the other wants or can use. With both metals being out of favor right now, most people have a tendency to stick with what they have. With that said, back in the summer I did trade 19 ASE's for a 1/4 Oz of gold. This was with my LCS. I didn't need all of those 2015 ASE's but the LCS had a market for them and the LCS didn't have a market for the coin that I traded for, but I did. The trade was basically spot for spot but only occurred because we each had something we didn't need but could trade for something we each could use. I have silver that I intend to rotate into gold, but I don't want to do it at these prices. If the ratio closes, that will most probably signify that silver has increased in price at a higher percentage relative to gold. When this happens, it may begin to bring more silver buyers into the market making silver more desirable than gold and creating opportunities for trade. If silver begins to spike along with gold I think that what happened in 2011 will happen again. Dealers will not be able to keep enough silver on hand to satisfy the demand and they will willingly trade gold for silver.
  3. lmwstamps

    Is this a fake 5 oz Australian Lunar Horse ?

    It looks good to me as well. In addition, I'm unaware of this particular coin being faked. It doesn't mean that it hasn't been, it's just that the fakes tend to be of more common coins/rounds and most are of the 1 Oz variety. I do agree with HelpingHands, though, in the condition it's in it's pretty much worth spot price.
  4. lmwstamps

    Is this a fake

    It looks good to me. The versions with the radial lines only started in 2014 (I think). Here's my 1994 Maple leaf for comparison.
  5. lmwstamps

    Best way to sell silver/gold bullions

    The best places to sell will need to be determined by you at the local level. Bear in mind that you probably won't recover collector premiums unless you sell to collectors. Silver is not usually a good short term play and 12 months is short term. Now is the time to develop your exit strategy. Consider online dealers, local coin shops, and local shows. Find out if there is a collector club near you. They may have opportunities to sell.
  6. lmwstamps

    eBay is it worth it?

    That would actually be quite easy here in the US. Many of the large online dealers also sell through eBay.
  7. lmwstamps

    eBay is it worth it?

    There are bargains to be had on eBay in the US as well. The same reasonable advice already given applies here too.
  8. lmwstamps

    Would You Become a Part-time Dealer?

    That's interesting about eBay, but that's why it's important to understand your local market PM opportunities. I agree about brick and mortar stores. That's kind of the same story here in the US. For what it's worth, I think that restricting a business to one sales route is a bad idea. While I think opportunities for selling in person at shows may be better here in the US, I would still sell online and eventually create my own website as well. If I just put up a website and didn't market it then I probably would get no sales from it. In order for a website to gain recognition, it has to be marketed. I would envision using sales at coin shows to market the website for future sales. All that takes time so doing what I can now in anticipation of the future makes sense.
  9. lmwstamps

    Would You Become a Part-time Dealer?

    The tax laws just changed last year here in the US. Here, nobody is taxed on roughly the first $13,000 of income, no matter the source. Income is then placed into brackets for taxation. For the next 25K, the tax rate is 10%, then 15% for another 50K after that, all the way up to 36% for any income past 250K. The numbers probably aren't correct, but that's the general scheme. We don't have VAT, but we do have state and local taxes to deal with as well. The new tax laws made many of the specialized deductions (such as out of pocket expenses for healthcare, mortgage interest deduction, donations to charity, etc) less beneficial for the middle class by increasing the standard deduction. Nothing much changed with the Sole Proprietor business taxes. Deductions can be taken for all most business expenses.
  10. lmwstamps

    Would You Become a Part-time Dealer?

    Thanks for all the responses and insight. There are obviously some differences between the US and the UK, but there are similarities as well. Taxes will always be a factor. I also believe that it will take time and effort to turn a stack into a revenue stream. Whatever I can learn, prepare for, or consider now will make it much easier to make that transition in the future if I choose to. Sometimes my tendency is to see my stack as merely a golden egg. Once it's gone, it's gone. I'm trying to think about ways to turn it into a goose that lays golden eggs. If that can be done, then it will provide much more stability in my latter years.
  11. lmwstamps

    Would You Become a Part-time Dealer?

    Those things are definitely considerations for those in the UK. Living in the US, I don't know what HMRC is a VAT is currently not a factor. In the US, I would file taxes as a Sole Proprietor along with my personal taxes. Capital gains would not be a factor and taxes would be based on profits. Any expenses (coin purchases, supplies, fees, etc) used for the business would be mostly 100% deductible and removed from the gross income. The net income would be taxed at the same rate as personal income and based on a sliding scale of total income. That's how it currently works in the US, but who knows 25 years from now. As an aside, I do currently sell on eBay as a private seller but that certainly doesn't maximize my profits. Yesterday I sold a coin on eBay for $45. My gross profit was a little over $36 after subtracting out fees, shipping, etc. Yesterday, coincidentally, I also sold coin for $45 at at local coin club auction. My gross profit after subtracting fees, shipping, etc was $45. eBay is very much a middle-man.
  12. lmwstamps

    Would You Become a Part-time Dealer?

    Since every Since every PM market is driven by local trends, I can't answer for the UK, but I would ask a question in return. Is the only option in the UK to sell online? Are there no shows, no open air markets, no places for small businesses to sell person to person? For me, I can answer the questions and suppositions in the following way: 1) I could realistically beat the big boys in setting up a functional website and SEO costs. By trade I'm a computer programmer and have developed websites before so it would mostly be a matter of time on my part. 2) Could I beat the big boys on prices? For many items, yes, for newer bulk bullion, probably not. With that said, I have no intention of competing with the big boys or of making online my primary selling venue. I get better deals when buying in person and can offer better deals when selling in person so that would be my primary business model.
  13. lmwstamps

    Would You Become a Part-time Dealer?

    In the interest of full disclosure, my primary purpose in stacking is for pension purposes and wealth preservation. Being in my 40's, I anticipate that there are at least 25 more years ahead of me before I need to use my stack for it's intended purpose. More and more, though, I am beginning to consider that one of the best ways to dispose of it when the time comes is to become a part-time dealer. This seems to have the benefit of maximizing the proceeds of selling by cutting out the middle-man and of potentially transforming something of a hobby into a revenue source in my later years. I find that this idea in particular impacts purchasing habits in the present in terms of what I chose to buy. Has anyone else thought along these lines? If so, is there any advice or pitfalls to consider?
  14. lmwstamps

    Numismatic Coin Collectors Must See This

    If you don't mind me asking, what is your exit plan? Will you be trying to sell all at once or will you be doing the legwork yourself and try to sell it piecemeal to maximize your profits?
  15. lmwstamps

    Silver rises to £25 per ounce - would you..

    If silver were to rise to £25 per ounce I would be doing the same thing I am right now, both buying and selling. I think that it would be similar to 2011 in that the opportunities to sell would be greater with more buyers coming into the market. Buying would probably be a little more difficult and deals might not be quite as plentiful. The premiums on semi-numismatics would probably compress. I would probably end up trying to sell cheap generics and rotate into semi-numismatics. If the GS ratio dropped into the 40 range I would be looking to rotate some silver into gold. I would probably also be looking to buy more gold than silver. My guess is that if the GS dropped into that range, silver would be hot and gold would be cooling off. tend to be a contrarian buyer and buy the metal that's unloved at the moment. That's why I'm all in silver right now.