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<p>[QUOTE="easj3699, post: 1654267, member: 40095"]After reading everything everybody has posted i decided to put my story. I have always been interested in coins ever since i was young but never truly dived into into it. About 6 years ago (i am currently 30) my father bought a collection of stuff off of one of his friends sons. It had hundreds of foreign coins, lots of silver coins, and a 10 oz silvertowne bar. He bought this collection for $200. After this purchase and me showing him what it was going for on ebay, he decided to start buying stuff from local stores and selling it on ebay. This went on for over a year, perhaps even two. During this time i really started getting into coins. I read every research book i could buy or borrow, my local coin stores were always teaching me, it was a great experience. After that year or two my father and i decided to start setting up at a local flea market. I know most people think any coin/bullion dealer at a flea market is a rip off, but our goal was to make a million dollars off of a million deals. I do know we went into being dealers before we should have, but at the same time i learned a lot more being on that side of the table then the customer side. We started learning what sells and what doesn't, what made more profit, learning counterfeits from originals. It was probably the best learning experience i could ever have asked for. One person here said starting money with $100,000, and with $1,000,000. We started out with maybe $1500/2000 worth of stuff to sell. We met people, made relationships, had regular customers, and made a little money. we set up at that flea market every week for a couple of years and then I ended up moving to another state. Ironically enough the same month i moved my father and his friend rented out a store front where they could put a pool table in so they had a place to play. It is nothing fancy, rent is cheap, and it was what they wanted. After a couple of months my father decided to make it into a coin/bullion shop so he wouldn't have to go to the flea market anymore. He has put a few thousand dollars into safes and security features for what is now his shop, but he started it with less the ten grand. Yes there are times like this past 2 weeks with the prices dropping he has to sell some stuff at a loss instead of putting it in the safe like most dealers, but he is putting money back in his pocket to buy metals at a new price and making money on it. If somebody wants to try and make a living at this, it is hard, but to say you need at least 5 years worth of income or more ($100,000 and up,i am from volusia county florida, we are poor) i think is crazy. I think what should be pointed out is you will probably be capable of making the business pay for itself, but will not be able to live off of it. If it is something you really want to do, why not give it a shot? Even setting up at a little dirt aisle flea market we were able to see and buy some really interesting things, gain respect from locals and make some money in the process. To bigtree who started this, if you want it, go for it. You might lose, you might win, but what's the fun of doing something if you already know the outcome?[/QUOTE]</p><p><br /></p>
[QUOTE="easj3699, post: 1654267, member: 40095"]After reading everything everybody has posted i decided to put my story. I have always been interested in coins ever since i was young but never truly dived into into it. About 6 years ago (i am currently 30) my father bought a collection of stuff off of one of his friends sons. It had hundreds of foreign coins, lots of silver coins, and a 10 oz silvertowne bar. He bought this collection for $200. After this purchase and me showing him what it was going for on ebay, he decided to start buying stuff from local stores and selling it on ebay. This went on for over a year, perhaps even two. During this time i really started getting into coins. I read every research book i could buy or borrow, my local coin stores were always teaching me, it was a great experience. After that year or two my father and i decided to start setting up at a local flea market. I know most people think any coin/bullion dealer at a flea market is a rip off, but our goal was to make a million dollars off of a million deals. I do know we went into being dealers before we should have, but at the same time i learned a lot more being on that side of the table then the customer side. We started learning what sells and what doesn't, what made more profit, learning counterfeits from originals. It was probably the best learning experience i could ever have asked for. One person here said starting money with $100,000, and with $1,000,000. We started out with maybe $1500/2000 worth of stuff to sell. We met people, made relationships, had regular customers, and made a little money. we set up at that flea market every week for a couple of years and then I ended up moving to another state. Ironically enough the same month i moved my father and his friend rented out a store front where they could put a pool table in so they had a place to play. It is nothing fancy, rent is cheap, and it was what they wanted. After a couple of months my father decided to make it into a coin/bullion shop so he wouldn't have to go to the flea market anymore. He has put a few thousand dollars into safes and security features for what is now his shop, but he started it with less the ten grand. Yes there are times like this past 2 weeks with the prices dropping he has to sell some stuff at a loss instead of putting it in the safe like most dealers, but he is putting money back in his pocket to buy metals at a new price and making money on it. If somebody wants to try and make a living at this, it is hard, but to say you need at least 5 years worth of income or more ($100,000 and up,i am from volusia county florida, we are poor) i think is crazy. I think what should be pointed out is you will probably be capable of making the business pay for itself, but will not be able to live off of it. If it is something you really want to do, why not give it a shot? Even setting up at a little dirt aisle flea market we were able to see and buy some really interesting things, gain respect from locals and make some money in the process. To bigtree who started this, if you want it, go for it. You might lose, you might win, but what's the fun of doing something if you already know the outcome?[/QUOTE]
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