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<p>[QUOTE="Derek2200, post: 4622426, member: 106755"]It takes big money (and luck from a up market) be a full time dealer. If you don’t have that, find a job. Develop your coin business as a sideline you can shift to full time at some time in the future. Keep your mouth shut about your coin biz at job and leave no non work material in your desk.</p><p><br /></p><p>With USA market in downslide it’s easy lose money. It’s all about timing 1972-88 nowhere but up 1989 to now down slide.</p><p><br /></p><p>It takes cost plus at least 40 pct make it in coin biz. If bids in sheet stagnant, decreasing this becomes more difficult. For eBay you need calculate the bay selling expense as pct of sales to see what kind markup factor you need to make decent profit. Bay selling Costs consist of their fees, paypal, and shipping. Some items you can get 100 pct profit, these will carry other stuff you don’t make that much on. You need to know how buy low / sell high plus figure out what sells. Once you get bourse room experience you will have shows where people coming In room broke, won’t pay the money. Try make a bad selling show into a good buying show.</p><p><br /></p><p>At a bad show tire kickers come out like roaches seeking outrageous discounts. Don’t let them talk you down. Many trying rip u w lowball offers trying cover / hedge slab costs / submission expense. Don’t let them bug you just stick with your base strategy.</p><p><br /></p><p>One successful big time dealer I know started with inherited money at the dawn of slabbing. He was a really good pickoff artist (raw coins picked from other dealers he got slabbed) & crack out profiteer.</p><p><br /></p><p>Lately I have made more retailing Canadian and Mexican coins vs US. Many in US seeing US coins as overvalued so they buy in those areas.</p><p><br /></p><p>I really like the coin biz, being my own boss, the thrill of buy low sell high, chasing nice coins, free coffee / doughnuts, coin show food, sharing talk with other dealers.[/QUOTE]</p><p><br /></p>
[QUOTE="Derek2200, post: 4622426, member: 106755"]It takes big money (and luck from a up market) be a full time dealer. If you don’t have that, find a job. Develop your coin business as a sideline you can shift to full time at some time in the future. Keep your mouth shut about your coin biz at job and leave no non work material in your desk. With USA market in downslide it’s easy lose money. It’s all about timing 1972-88 nowhere but up 1989 to now down slide. It takes cost plus at least 40 pct make it in coin biz. If bids in sheet stagnant, decreasing this becomes more difficult. For eBay you need calculate the bay selling expense as pct of sales to see what kind markup factor you need to make decent profit. Bay selling Costs consist of their fees, paypal, and shipping. Some items you can get 100 pct profit, these will carry other stuff you don’t make that much on. You need to know how buy low / sell high plus figure out what sells. Once you get bourse room experience you will have shows where people coming In room broke, won’t pay the money. Try make a bad selling show into a good buying show. At a bad show tire kickers come out like roaches seeking outrageous discounts. Don’t let them talk you down. Many trying rip u w lowball offers trying cover / hedge slab costs / submission expense. Don’t let them bug you just stick with your base strategy. One successful big time dealer I know started with inherited money at the dawn of slabbing. He was a really good pickoff artist (raw coins picked from other dealers he got slabbed) & crack out profiteer. Lately I have made more retailing Canadian and Mexican coins vs US. Many in US seeing US coins as overvalued so they buy in those areas. I really like the coin biz, being my own boss, the thrill of buy low sell high, chasing nice coins, free coffee / doughnuts, coin show food, sharing talk with other dealers.[/QUOTE]
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