Well... How many 70s do you expect? I almost guarantee you'll lose money or barely break even on 69s.

15 minutes ago, Revenant said:

Well... How many 70s do you expect? I almost guarantee you'll lose money or barely break even on 69s.

Based on last year's numbers, you can expect 87% 70s and 13% 69s. And yes, the 69s lose money. The only way I can see making some decent money here is by getting First Day of Issue Labels, as those only cost $8 on bulk submissions per coin, but you can charge $35 more for them (meaning, MCM and the other majors *are* charging $35 more for them). So that takes you to a $20 profit (once you subtract the label fees and increased selling fees on the higher price). But with how backed up the Mint's shipping is right now, good luck getting them to your house and then back out the door to NGC within 7 days, which is what they require for FDOI labels.

Modern Coin Mart is based in Sarasota, Florida where you guessed it NGC is home based. They can hand carry their submissions back and forth from NGC to save on postage. Next, since they are a regular bulk customer I have to believe that their grading costs are negotiated. Finally, they can sell their coins through their website and bypass E-Bay altogether. Next I have noticed that some sellers that sell on e-bay and their website offer in some cases a discount to the people who buy from the website. In some cases I have bypassed e-bay to reap a discount from a dealers webpage. Other dealers give a discount for check and cash transactions to save on the credit card fees. Though I believe the profit margin is thin and can't be more than 10% that all the large dealers make the difference up in volume. Additionally, some dealers do not do free postage. You're right on this, the little things do add up. Gary 

Good video, you speak clearly and the video quality is great, can't wait for more videos!

I think Gary does a good job of laying out why trying to compete with people like MCM is a losing battle. That's a pretty big dog. I have a somewhat similar situation with my Zimbabwe note set. I can't bulk submit hundreds of different notes from nearly 100 different pick #s. BankNoteWorld can and did - they probably paid about $14 each to bulk submit literally thousands of notes back in the day. If I wanted to cherry-pick and submit individual notes myself it'd cost me $30 a note to submit them - plus shipping both ways and the cost of buying the notes in the first place. I could buy them already graded from BankNoteWorld for $15 each - sometimes less if I caught a sale. At that point, you can buy from the dealer cheaper than you can take a roll of the dice yourself.

Sometimes the economics of the situation and of scale just don't favor a "DIY" approach or trying to buy and re-sell.

Just because they are offering them on Ebay for that amount, does that mean people are paying that reliably?

40 minutes ago, deposito said:

Just because they are offering them on Ebay for that amount, does that mean people are paying that reliably?

I think the power sellers on eBay get very favorable terms on listing fees and MCM has their own site for direct sales. I think that gives them enough room to mostly set their price and wait for the inventory to clear. From what I've seen, they do tend to sell quite a bit. MCM has some of the more competitive pricing on modern coins out there, right along with Pinehurst and a few others. Unless you want to submit the coins yourself and take the gamble there aren't many people that can afford to undersell them on price.

16 hours ago, deposito said:

Just because they are offering them on Ebay for that amount, does that mean people are paying that reliably?

Yeah, the big dealers are pre-selling hundreds/thousands of them at that price, they are setting the market price (for now, anyway) on these coins. Why would anyone come along and sell for less when a.) there's no profit to be made already, and b.) they know they can easily sell it for the same price as MCM and the others.

20 hours ago, Jade Collection said:

Good video, you speak clearly and the video quality is great, can't wait for more videos!

Thanks! I plan on doing a couple a week for the foreseeable future (have a long list of video ideas written down so I can start researching), then we'll see where things go with regards to feedback and interest.