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<p>[QUOTE=&quot;Lehigh96, post: 1514809, member: 15309&quot;]It sounds as if you want to enter the bullion trading market with very little knowledge or experience under your belt.&nbsp; Unless you get lucky, I don&#039;t see you making money that way.&nbsp; If you are interested in becoming a vest pocket coin dealer, then you need to develop a niche and exploit it.&nbsp; For the purposes of this thread I am considering a vest pocket dealer as someone who tries to make money flipping coins but is not a full time coin dealer and does not make their living dealing coins.</p><p><br /></p><p>I would consider myself a vest pocket dealer.&nbsp; I sell all of my coins on E-Bay.&nbsp; From January to May 2012, my gross revenue was over $20K with a profit margin of 14%.&nbsp; S&amp;H was 2.5%, E-Bay fees 5.6%, &amp; Paypal 2.9% of gross revenue.&nbsp; The problem with these statistics is that my starting inventory was my existing collection which included many coins that I had purchased 3-5 years ago.&nbsp; I have not separated out my margins for coins that I have bought and sold in 2012 only but I don&#039;t think they would change that dramatically.&nbsp; The reason I say this is because many of the coins I bought years ago, I did not purchase with the intent to profit, hence I overpaid.&nbsp; Anything I purchased this year, I did so with the intent to flip &amp; profit.</p><p><br /></p><p>My niche is that I am very experienced in Jefferson Nickels and can pick out premium quality examples for just about every date/mm for both TPG&#039;s.&nbsp; I also have outstanding numismatic photography skills which allows me to maximize my sale price on E-Bay.&nbsp; Without both my Jefferson knowledge and photographic skills, buying and selling coins would not be a profitable venture.</p><p><br /></p><p>I think you will find that if you don&#039;t treat coins like a business, you will have a very difficult time making a profit.&nbsp; I say this because in order to have a successful business, you need to start with a sound business plan.&nbsp; From what I see, you don&#039;t yet have one, but I wish you the best of luck in your endeavor.[/QUOTE]</p><p><br /></p>

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