Collector or Dealer?

always a collector but have sold a few in my time

 

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a collector, i wouldnt know enough to sell coins for profit. plus I dont think i would be able to part with most of mine, but I have been known to help some people out with their small cent collections.. free of charge of course.. anything to help them get started.....

 

Collector

 

Yes. I have sold on eBay but their fees are keeping me from offering more coins. The last coin I sold on eBay was a Franklin half dollar. After all was said and done I actually lost one cent to sell that coin.
The cheapest coin show fee is a local show that charges $35 for half of an eight foot table. And that's if you can find someone willing to share a $70 table. I would have to sell some nice coins just to pay the fee.

 

Collector here. Don't think I could part with any of my coins, regardless of how much someone offered to pay. Though I have sold other people's coins for them and never had a problem with it. Weird.
Guy~

 

i'm generraly a collector with coins, but i buy and try to sell some bills once in a while.

 

I'm a collector. If I sell something, it's to 'trade up' for something better.

 

I'm a dealer, even by Doug's definition. The coins pay the mortgage and feed the kids.

 

by the way, I agree with Doug's definition of a coin dealer. I think that a vest pocket dealer is a dealer, but I'm hesitant to call anyone who doesn't work the bourse to buy and sell (for profit) even a vest pocket dealer.

 

lol, so you did. So far so good, 15 months in I am still loving it and I cannot believe how much I've learned. The perspective is so much diiferent when your livlihood is dependant on selling the next coin than it was when I was selling duplicates on eBay. There is no comparison.

 

Although I've sold a few thousand coins online I cant call myelf a dealer, it's just a part of the process of upgading my collection. More of a hobby I guess.

 

Strictly a collector. I would not even know where to begin selling a coin. Besides everything I have is going to go to the grandkids. It would be like selling their inheritance.

 

i'am a collector, it all goes to my grandaughter. she is two,yesterday! (help with her education)

 

I am a collector . I have promised myself that I'll sell the coins I've upgraded from, but that rarely happens. So now I have 3, 4 or more of these duplicate coins that I want to hang on to. I seem to continually buy to upgrade my collection as well as buy to add new coins that I, all of a sudden, like and want. Is this the addiction that is discussed in the other thread? Oh NO NO NO....

Bruce

 

This is the first year that i have sold coins, although i've been buying on ebay for many years. Will i be taxed differently for being a dealer than a collector? I assume i can deduct my expenses as a dealer.

 

What Doug said!

Whenever you run a business it is treated differently than how a hobby is treated by the IRS. Don't make a costly mistake, see a liscenced tax advisor.