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<p>[QUOTE="giorgio11, post: 1381309, member: 17094"]Same way you get to Carnegie Hall: practice, practice, practice. With all due respect, if you have only recently become a collector and with the kinds of questions you have, I would try to discourage you from trying to become a dealer. I have been in the business for 50 years and it is difficult to find fresh material at the right prices, and you absolutely do have to know for yourself how to distinguish counterfeits, both raw and in counterfeit slabs, from the real deal. Unless you are 100% confident in your ability to distinguish counterfeits, one mistake can cost you dearly. And think about it, do you really have the kind of cash needed to make a successful go of it? After all expenses if you have a 10% profit margin you are doing well. That means to make $20,000/yr you need to sell $200K worth of coins per year. Do you have that kind of money to put in coins? If so, then why not put it in something a bit safer? </p><p><br /></p><p>And please, no flame wars, guys and gals, contrary to a lot of opinions I have read here, most dealers cannot sustain 30% profit margins and stay in business. That is not reality.</p><p><br /></p><p>I buy coins from eBay, from estates and friends, various collector and dealer sources, networks, etc. All these contacts and skills take much time and effort to develop. Best regards to you and congratulations on your new family addition.</p><p><br /></p><p>George[/QUOTE]</p><p><br /></p>
[QUOTE="giorgio11, post: 1381309, member: 17094"]Same way you get to Carnegie Hall: practice, practice, practice. With all due respect, if you have only recently become a collector and with the kinds of questions you have, I would try to discourage you from trying to become a dealer. I have been in the business for 50 years and it is difficult to find fresh material at the right prices, and you absolutely do have to know for yourself how to distinguish counterfeits, both raw and in counterfeit slabs, from the real deal. Unless you are 100% confident in your ability to distinguish counterfeits, one mistake can cost you dearly. And think about it, do you really have the kind of cash needed to make a successful go of it? After all expenses if you have a 10% profit margin you are doing well. That means to make $20,000/yr you need to sell $200K worth of coins per year. Do you have that kind of money to put in coins? If so, then why not put it in something a bit safer? And please, no flame wars, guys and gals, contrary to a lot of opinions I have read here, most dealers cannot sustain 30% profit margins and stay in business. That is not reality. I buy coins from eBay, from estates and friends, various collector and dealer sources, networks, etc. All these contacts and skills take much time and effort to develop. Best regards to you and congratulations on your new family addition. George[/QUOTE]
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