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<p>[QUOTE=&quot;The Penny Lady®, post: 649961, member: 16948&quot;]Since I have not been on this forum very long, I haven&#039;t seen the other posts on this question, so I don&#039;t know if my advice is redundant.&nbsp; However, here is how I got my start, and perhaps you will pick up something new.</p><p>&nbsp;</p><p>I got my start at dealing in coins by helping out my mentor dealer at some shows when he would come to Southern California, so he could show me the ropes so to speak.&nbsp; I learned all the coin lingo, watched him wheel and deal, buy and sell over the table, how he kept track of his inventory, sales tax issues, what kind of people to watch out for, how to treat/not treat customers (he could be cranky at times!), what reference materials I should have, what &quot;equipment&quot; I should buy, not to mention he taught me how to grade properly, how to see hairlines, determine cleaned coins, etc.&nbsp; He always introduced me to other dealers and told me what they specialized in, whether they were honest, etc.&nbsp; I have to say I learned so much from this man, and he was incredible to take me under his wing.&nbsp; We are still good friends to this day.</p><p><br /></p><p>When I was ready to do it on my own, I then hooked up with a more local dealer who let me rent space at his table, which I really preferred since he was there to help me if I had any questions.&nbsp; Eventually, I went out of my own completely, and really and truly enjoy being a coin dealer. </p><p><br /></p><p>The hardest part to me, besides having enough money to create a decent inventory, was learning how to buy from other dealers, and even collectors who came in the door, particularly collections or sets.&nbsp; You need to learn to buy &quot;right&quot; in order to make enough of a profit to stay in business.&nbsp; </p><p><br /></p><p>The most important thing to me, however, is your integrity.&nbsp; To me, integrity and honesty are the key to making a go of any business, but especially the coin business.&nbsp; You won&#039;t retain your customers, and they won&#039;t refer others to you, if you don&#039;t treat them right.&nbsp; There will always be issues or problems that come up, especially if a customer isn&#039;t happy with their purchase, so how you treat them will determine whether they will keep giving you business.&nbsp; I have found that each case is different so you can&#039;t necessarily have a set in stone policy, you need to adjust how you handle problems depending on the circumstances.&nbsp; </p><p><br /></p><p>Let me add, that some of the most difficult situations I&#039;ve encountered have been with other dealers.&nbsp; Most of them are good people, but there are a few who are arrogant, condescending, think they know everything and you know nothing, and will simply try to rip you off if you&#039;re not careful.&nbsp; Don&#039;t be intimated by anyone, even the most highly thought of, high end dealers - they are just a business person like you, and you deserve the same respect as the guy who has been doing this for 50 years.</p><p><br /></p><p>I wrote an article for the Fly-In Club newsletter several years ago on how I got into this business and it is posted on my website if you care to read more (<a href="http://www.thepennylady.com" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.thepennylady.com" rel="nofollow">www.thepennylady.com</a>).&nbsp; </p><p><br /></p><p>Good luck, and don&#039;t be afraid to jump in!&nbsp; I am continually learning something new and get a great deal of enjoyment being a dealer.&nbsp; I&#039;m sure you will too![/QUOTE]</p><p><br /></p>

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