Message:

<p>[QUOTE=&quot;Ken Dorney, post: 2915850, member: 76086&quot;]With great difficulty.&nbsp; It is very true, the net margin is exceedingly small, so its much more important to work off a large inventory.&nbsp; But that takes big capital which is why there are not more dealers out there, and of those that are out there the inventories are quite small (in comparison to some).&nbsp; </p><p><br /></p><p>The topic has many nuances, and there is much to discuss, such as business model:&nbsp; Consignment or own your coins, or a combination of both?&nbsp; I can say this.&nbsp; Of the biggest names in the business most (if not all) were wealthy before they got started.&nbsp; What does that mean?&nbsp; Well, they had enough money to weather a storm of starting a business in a volatile industry and could afford to lose much money until they turned a profit.</p><p><br /></p><p>This is not an easy question to answer as there are many directions people come from and go to when becoming a dealer.&nbsp; </p><p><br /></p><p><br /></p><p><br /></p><p>Yup.&nbsp; This is possibly the biggest method in which dealers get started.&nbsp; Just be careful.&nbsp; At a certain point your collection could become inventory, as it has for so many others.</p><p><br /></p><p><br /></p><p><br /></p><p>I dont know about part of this statement, but this was often true in the old days.&nbsp; Now Paypal reports all money transfers to the IRS.&nbsp; Unless you are cash only and doing only business in person, you cant hide your income.</p><p><br /></p><p><br /></p><p><br /></p><p>It is critical to success to remove any and all emotion from your buying and selling.&nbsp; One has to know when to walk away from any deal.&nbsp; Auctions are where one can get into the most trouble, especially online auctions.&nbsp; Its easy to just keep hitting a &#039;bid&#039; button.&nbsp; Before one knows it, you can have an unsellable inventory.&nbsp; As for the last part, well, most collections go to auction, not to individual dealers.&nbsp; We have to compete for the same coins with all the other dealers and collectors in the world.[/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