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<p>[QUOTE="CappedBustDimes, post: 537081, member: 9104"]If you have to ask, you are not ready and like others have said...you will need more years of experience regarding the coin market/hobby as well as good business practices in general. </p><p><br /></p><p>But, if you insist on jumping into the shark pool head first I agree with the ebay/vest pocket model or specializing in a certain niche such as a certain type or series. It is pretty easy to get cherry picked and leave money on the table when buying and selling if you have very little knowledge on a wide breadth of series or types. The most successful dealers usually have studied a single series or type and built their business around that primary focus</p><p><br /></p><p>Don't forget that you'll need plenty of liquid capital-cash...and many who wish to be more than bullion traders find that they must get involved in the national and regional coin show circuit in order to build relationships w/ other dealers and find fresh material for inventory.</p><p><br /></p><p>There's a lot more but, it is very similar to any business (restaurants, hotels, real estate, retail) ... You have to have a solid financial base to weather the bad times and knowledge of your product.[/QUOTE]</p><p><br /></p>
[QUOTE="CappedBustDimes, post: 537081, member: 9104"]If you have to ask, you are not ready and like others have said...you will need more years of experience regarding the coin market/hobby as well as good business practices in general. But, if you insist on jumping into the shark pool head first I agree with the ebay/vest pocket model or specializing in a certain niche such as a certain type or series. It is pretty easy to get cherry picked and leave money on the table when buying and selling if you have very little knowledge on a wide breadth of series or types. The most successful dealers usually have studied a single series or type and built their business around that primary focus Don't forget that you'll need plenty of liquid capital-cash...and many who wish to be more than bullion traders find that they must get involved in the national and regional coin show circuit in order to build relationships w/ other dealers and find fresh material for inventory. There's a lot more but, it is very similar to any business (restaurants, hotels, real estate, retail) ... You have to have a solid financial base to weather the bad times and knowledge of your product.[/QUOTE]
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