Reply to Thread

Message:: [QUOTE="Arizona Jack, post: 541031, member: 9308"]Now I'll do the costs involved, from a business point of view. Strictly anylitical. I'll start with Ebay, because thats where I started. Folks gripe and moan about the fees, but let me tell you from experience, Ebay is actually one of the cheapest ways to sell ( it's just the enviornment and rules that have soured me ) Simple. List a coin, take 90-95% of the selling price and put it in your pocket. You can do this from home. You can also buy on the bay and sell on the bay, the same coin for profit if your sharp and diligent. There are bargains out there. Coinshows: My Scottsdale show is a cheapie but a great show full of great folks, I have made alot of great friends there. Sure I was a newbie and fresh meat at first, but, I think I fit in well these days. I have developed my regulars in a short time. Scottsdale table fee is $45. Thats right off the top. Glendale show is $45. Mesa Coin Club show was if I remember correctly $185 and the best value on the planet as far as coin shows go. These local shows are a great way to get your feet wet at very little costs, and that's how I did it.   Tucson runs me near $400, then add 200+ miles of travel by truck and hotel costs. As a semi major regional, Tucson is becomming a great show, and is a steppingstone to the majors. I cringed when I figured out the costs outlined above, I had to PROFIT $700 or so just to break even !!!!I sold 2 SVDB's my first timethere and that did it for me, then the second show I did there I sold 2 more. I have read on other sites that some dealers have never sold an SVDB expect to other dealers, I beg to differ. Long Beach is a different story, I never get a table there ( yet ), and it is expensive for me. $300 minimum for lodging ( $600+ if you like the nice places ) $200 rent a car and another $250 airfare. Add the incedentals and I spend about $1000 before I buy or sell a coin. Last Long Beach, I brought $10,000 cash and a loaded debit card. Add another $12,000 or so at Heritage on " terms" and that was my budget. I think I bought about 5 or 6 high grade SVDB's, and a load of raw coins. We have to figure that $1000 cost into the coins, and don't forget the Heritage " juice and interest ". If you were to look at an auction archive on any given coin sold by any given dealer, you would see that coin sold for $3500 lets say, but hey, that greedy dealer is asking $4500..... It is very difficult to figure all these thing on individual coin ( yes, I do have price/date codes) , so I do it on a total basis. I have x amount of coins at X cost.......you have to keep that number in your head at all times, and on ocassion, you run several mental tabs at once. Only then you'll figure out if your making money OR having fun. To me, having fun is great, but I am out to make money as well. To be perfectly honest, if I had to feed myself on coins and pay my household expenses etc, I'd starve. Only if I had the time to dedicate full time, could the income jump. As a vest pocket/web guy, I am doing alright, but I always have that cushion of a very nice day job in case I need a bailout, lol.[/QUOTE]

Create my FREE Account!

Log in or Sign up

Reply to Thread

Useful Searches