Message:

<p>[QUOTE=&quot;LostDutchman, post: 515080, member: 16994&quot;]As one of the dying breed of brick and mortar coin dealers I will tell you that it is all about marketing, volume, and taking chances. I make the most money at shows buying raw coins from <u>dealers</u> and then having them graded. You would be surprised how many dealers are unable to recognize a raw 64 Morgan from a coin that will holder in a 65 or higher holder. You can also make money filling want list for customers as well as selling coins from your table (or suitcase if you are me). I personally don&#039;t buy tables at the larger shows but prefer to walk the floor. I&#039;m not tied down to a table and can do the same things for the most part on the floor.&nbsp; &nbsp; </p><p><br /></p><p>For coin dealers being compared to ambulance chasers and used car dealers... There is some truth to that. I have met some very slimy people in this business, but I have also met some very honest and trustworthy people. Every coin has 2 sides. </p><p><br /></p><p>I will tell you that at the shop I usually work on about an %5-%15 total margin of profit depending on what I&#039;m buying and selling. I personally spend almost 20k a year on just advertising. The phone book is still the #1 provider of our phone calls but I am getting more calls from the website and Google listings. If your going to go the store route it is definitely advised. It is also advised to be as completely honest as you can with people. People talk to their friends about your business and if you treat someone right and fairly then they will definitely tell their friends. On the flip side if you are a jerk, or rip someone off they will also tell people. </p><p><br /></p><p>I recommend setting up at some smaller local shows until you get comfortable with the etiquette of the coin business. You can also use this to make contacts with other local dealers and collectors. Depending on how advanced your skills are you might need to use this time to refine your grading and pricing. Im sure there are a lot of things I have missed... but off the top of my head... thats what I came up with.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in