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<p>[QUOTE=&quot;bhp3rd, post: 650000, member: 16510&quot;]<b>Good question, many answers, many thoughts!</b></p><p><br /></p><p>I think most &quot;coin dealers&quot; end up there by default.&nbsp; By that I mean they were either collectors or accumulators and drifted to selling their material because there was profit to be made or excess to be sold.&nbsp; That or their interest grew to the point that became the next logical step.</p><p>&nbsp;</p><p>I got into selling coins because I got hooked on doubled dies and the first one I found was a quarter from change worth $1200.&nbsp; Made Coin World twice and was introduced to some of the top die variety specialist such as Wexler, Crawford and Potter.</p><p>&nbsp;</p><p>Now making a living off that kind of success, or luck is not at all realistic.&nbsp; But you can, and I do make &quot;some&quot; money selling coins but I also loose some money selling coins.&nbsp; Yes sometimes we loose.&nbsp; Anyone that does not tell you this is not being totally honest as making mistakes an taking looses is part of life.</p><p>&nbsp;</p><p>Now if you think the above is &quot;hard to swallow&quot; info get ready for this:&nbsp; It takes most folks a minimum of 5 years to learn enough to carry on a simple conversation with a seasoned coin dealer.&nbsp; That is if they buy all the books, read them, get Coin World and Numis News, read them, study, study, study and look at 10&#039;s of thousands of coins.</p><p>&nbsp;</p><p>It&#039;s then takes another 5 years to hone their skills and network enough to make contacts and start getting confertable in doing limited buying and selling.</p><p>&nbsp;</p><p>Now I run the longest running coin show in the nation each month and know many dealers.&nbsp; The most successful dealer I know both works very hard and had some great luck and is always consistent.&nbsp; He buys at 10 to 15 % back of GreySheet and sells at ask depending on material of course.&nbsp; He spends up to 80 hours a week at it and does many shows each month.&nbsp; He caters to his clientele and generally buys whatever is presented to him and pays better than others.&nbsp; He attempts to always make at least 10% across the board and of course sometimes makes more.&nbsp; For his first 15 years he put every dime back into buying and then got the chance of a lifetime with a gem set of Buffalo Nickles and precisely the right time. </p><p>&nbsp;</p><p>Many dealers always say &quot;you make your money buying not selling coins&quot;.</p><p>&nbsp;</p><p>One things for sure there are three things you must know backwards and forwards even in your sleep to be a successful coin dealer.</p><p>1. You have to know every series from 1792 to date pretty darn good.</p><p>2. You need to know the key dates of same.</p><p>3. You need to know the current market values both retail and wholesale&nbsp;&nbsp; for same.</p><p>&nbsp;</p><p>But go set up at a show and have fun.&nbsp; In 10 or 20 years you may have a full page ad in Coin World, it&#039;s (as always) &quot;up to you&quot;!!![/QUOTE]</p><p><br /></p>

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