Considering becoming a flea market coin dealer. Any advice?

Besides being a collector I've been playing hobbyist dealer for years. Usually selling at 1 to 3 yard sales a year. I've done OK with it and grown my inventory.
Now I'm seriously considering moving up and trying my hand at the local flea markets with it.
This is still just a hobby and not intended to be an income or anything like that.
I'm wondering if anyone here has gone that route? Any advice or things I should know going into it?

 

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I know I've seen a lot of ridiculously overpriced coins as flea markets. I'm sure there's a booth rental fee you have to take into consideration. Also, I think it would be wise to have it within eye sight of workers. I haven't sold at a flea market, but as a customer I like cases orderly and not stuffed full. The best I ever saw looked like an old jewelry case with several shelves. It turned and coins were set up on little plastic stands. Plus, it locked.

 

Just be fair. The worst advertisement in the world are people talking poorly about your price or your product. Be fair and be honest and customers will flock to your door.

 

Try to change your inventory as frequently as possible. Most people don't want to revisit a display case with mostly the same items month after month.

 

Your business depends on your honesty and word of mouth advertising. You’d have to make deals. If you don’t no one will buy from you. Yard sales are fine but as a flea market dealer you’ll need to keep records for federal, state and local taxes. It’s an entirely different ball game so I’d suggest you contact a local tax representative.

 

All great points and advice from the posters above.

Do not forget, or downplay, the necessity for security. Not always so much getting to the market, but certainly during the market hours and even moreso after the market closes and you're leaving and also while heading home. Being followed and robbed or burglarized is a very real threat.

I would definitely zigzag your route going home while constantly checking your rear view mirror for anyone possibly following you.

Remember, you'll be publicly displaying your possessions of value. Not everyone has nefarious intent, but all it takes is one.

Be safe. Best of luck in your new venture.

 

just bring the wives along for security.

 

Breaks my heart that we live in a world where these are genuine and very valid concerns. We used to have a fellow here that posted regularly that was shot in the head by a crook in his shop. He played dead on the floor of his shop until the criminal left and praise the good Lord, somehow survived the ordeal.