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<p>[QUOTE=&quot;Player11, post: 1098378, member: 26725&quot;]If your going to be a dealer you can&#039;t be a collector or for that matter an investor (unless your confident that material is increasing in bid / bullion value). </p><p>&nbsp;</p><p>I have a core amount of money invested in my inventory and it is allocated between coins and currency with a certain bullion position in gold and silver bullion material. I like to have a good amount of cash on hand to buy any deal that walks up at my price. To me its about buying low (buying it right) and selling high (retail if possible). I want to flip it for more money as quickly as possible (with a little strong retail along the way) and achieve the ROI goal for my business while at the same time having a base inventory which has lots of potential for retail or appreciation. I recently sold a big ticket currency deal for almost 100% markup over cost but had to hold this stuff over a year to get my price. Lately, I have made more on currency than coins. </p><p>&nbsp;</p><p>The biggest mistake as a dealer you can make is go crazy buying coins off the bourse from other dealers bc of the collector in you which will ruin the cash position needed to successfully run the business taking advantage of the good deals that walk up. Once you have enough material to fill your cases at a show its all about buying it right.</p><p>&nbsp;</p><p>Another mistake is to get caught up in a fad or craze (chasing bullion up) and then overpay for material. Other examples are people who bought 1950-D 5c rolls for $1000 in 1964, paid $1000 for MS 65 common date morgans prior to the 1990 crash, pay big money for puffed up mods (MS / PF70&#039;s), or way overpay for CAC coins, etc. You don&#039;t want to be the end user.</p><p>&nbsp;</p><p>If you set up at a show, stay behind your table and buy / sell at your price. Once you start walking around the bourse you will lose sales (from your vacant table) and then probably overpay for material other dealers could not sell. I set up at shows to buy and sell at my price, not chase other dealers material or wholesale to them.[/QUOTE]</p><p><br /></p>

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