Are there many careers in numismatics?

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What a helpful post. This ought to be a Best Answer.

As a back-of-napkin estimate, Ardatirion, how many man-hours do you have invested in pure learning so far?

 

Truth!

 

I have heard that this is an important part to becoming good at "knowing your coins", especially grading, which is paramount if getting into US coins. Getting your "eyes on coins" and a LOT of them is what makes professionals in the field good at what they do.

I know someone who just wanted to understand how to grade better. He asked his LCS owner if he could come in and grade some of his lower-grade cents. The owner, who has 35 years of experience in grading would take a look at the coins after he was done, and they would have discussions as to the finer points of grading copper, and later, other coins. This could be one of those foot-in-the-door opportunities for those who may want to get into the field...

 

Do you have something to offer that no one else sees? Perhaps a career is waiting to be invented by you.

What can you find in these forums, for example, that seems to be a common wish, complaint, or niche that no one else fills?

If we look back a few decades, the idea of the local coin dealer has been disrupted by third-party grading, online sales, and high-detail digital photography that enables both of them. These each opened new careers.

What can you see that might need solving?

• Low-cost coins don't get graded because of their cost. This opens opportunities for affordable grading, photography, and encapsulation (I wish all my holders were the same size, for example, but most of my Lincolns are not encapsulated.)
• Are there overseas markets for low-grade US coins that seem to be surplus to the domestic market.
• What niches have opened up by doing specialty tasks within the current market framework? For example, you can get a CAC sticker to affirm a grade, which is a niche that would not exist without the TPGs in the first place.

Maybe the members can offer ideas of what they might wish they had - and maybe you can invent a way to fill that need.

Good luck!

 

I worked for a major dealer here in New Orleans for a few years. I can tell you that it wasn't all that I was hoping for even though the money was pretty good. I felt like more of a telemarketer than a numismatist.

 

Tough question. Easily thousands of hours now. I was probably spending at least two hours a day looking at stuff. I know that, since I started working, I've cataloged about 15000 lots.

Unless you have an inexplicable passion for moving bullion, you're gonna end up with that feeling at almost any basic US shop.

 

This wasn't a basic shop. It is actually one of the largest firms in the nation that deals with very high end pieces and contributes to many of the great and famous collections. I knew that a local coin shop would be a high percentage of bullion trading, but I truly didn't think that this one would be.

 

While I can't really comment on numismatic career paths I can comment on people finding a job that's like their hobby.

Many of the gear heads I work with get tired of turning wrenches all day then going home to do it again on their car.

My coins and the activities surrounding my collecting like research, cataloging, photographing bring me lots of pleasure and I wouldn't want my paycheck to depend on my quality of work. Everyone's different though.

 

As far as goes retailing or grading them, I could not and would not. But imaging coins or writing about them? I'd do that every waking minute of every day.

 

You got a lot of advice. Most of it seemed to be within the bounds you seemed to be thinking of: buying and selling coins. Moreover, while Ardatirion did mention ancients, not much more was said about the different fields within numismatics. Dealers specialize. Do you know American type, or European Stocks and Bonds, East Asian Paper or Islamic coins or Spanish American material? If you focus on one area like that, you soon meet all of the dealers. Once you are known in that field, your avenues widen in that field. (Again, consider Ardatirion and ancients.)

Catalogues, sales materials, websites, e-commerce listings, they all require special skills.

PhysicsFan 3.14 hit on my own speciality: writing. I write about all kinds of materials, about people, about history. One problem is the narrow markets. Not a lot of places pay, and those that do do not pay well. But you asked for a career, not a path to riches.

That leads to publishing. Whitman is not the only company doing, though they are the largest. But publishing for numismatics is two hills to climb, not just one. I assume that you never ran a printing press or set type... But the fact remains that it is a career in numismatics.

Selling books is another aspect of the hobby.

... and supplies...

Topcat mentioned photography, and we have a photographer here. I met him in person at the ANA show in Dallas. It is not a full time job, but it is one thing that you can do for money. In fact, it helps with insurance, as well, so that might be an entry angle, if you care to pursue that.

Former ANA president David Ganz is a lawyer. Coin World editor Steve Roach also has a law degree. So far, no one suggested that you pursue the opportunities in writing contracts, and negotiating and arbitrating.

Security is another field of interest. The downsides to making it a career are the same as for law and publishing: two hills to climb, not one. We do have numismatic crime reporting. (http://numismaticcrimes.org/) Coin shows do need security, and they do hire guards. Generally, you have to be licensed in the state you practice.

My question is: what do you want to do? What do you envision yourself doing?

 

Not exactly true, of course. The ANA Masters Course and their Summer Seminars are exactly that kind of training. And you yourself went through the Summer Seminar on your way to a career.

 

I could not be more pleased to see you've earned your Best Answer.

 

Not true at all. I would start with every firm with full page ads and then move down from there. In addition to the national magazines, I would look to the significant regional, state, and local club periodicals. Most of those are unperceived. See who buys big ads there, and approach them.

It is all a matter of numbers. Make a list, send your letters. (And yes, email counts, but not as much.)

 

This is not exactly correct. It does not take 10-15 years to learn to grade. Furthermore, I know of at least six cases and believe it may have happened more often of "low level" employees becoming graders. Two of these people knew virtually NOTHING about coins. I believe one of them heads a token and medal department. I'll bet if we include firms like Heritage, there are many more examples.

It takes, study, a good eye, drive and hard work (over and above) to impress the boss and get a break. It helps to have inside family connections as many children of dealers work at the services.

One fast tract is to attend the ANA Seminars, and meet everyone while you are learning as many YN's become professionals.

 

This is more true than any here would believe!

 

Did it have cannons, armor and swords too?

 

And don't forget about the challenge you accepted?