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Is now the time to start my Coin and Silver business?
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<p>[QUOTE="medoraman, post: 1320959, member: 26302"]For many brick and mortar coin shops in this country, especially ones not doing a lot of internet sales or in a large population zone, "buying right" is the keys to profits. Learning how to analyze items brought in, identifying fakes, sorting out collectible versus bullion value, etc. will be key if you are concentrating on buying bullion and coins. </p><p><br /></p><p>You say you have an Econ internship in DC next summer, I would look to see if there is a local coin shop you can work at Saturdays, nights, whenever you can. Even if its unpaid. I think physically being in a business location that you wish to own can teach you so much that its hard to overemphasize. You are wanting to go into business that has been done 1000 times before. Trust me, there is a ton of expensive lessons they have already paid for and you can learn for free. Even working for them for free will more than pay for itself if you wish to open up a similar business.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1320959, member: 26302"]For many brick and mortar coin shops in this country, especially ones not doing a lot of internet sales or in a large population zone, "buying right" is the keys to profits. Learning how to analyze items brought in, identifying fakes, sorting out collectible versus bullion value, etc. will be key if you are concentrating on buying bullion and coins. You say you have an Econ internship in DC next summer, I would look to see if there is a local coin shop you can work at Saturdays, nights, whenever you can. Even if its unpaid. I think physically being in a business location that you wish to own can teach you so much that its hard to overemphasize. You are wanting to go into business that has been done 1000 times before. Trust me, there is a ton of expensive lessons they have already paid for and you can learn for free. Even working for them for free will more than pay for itself if you wish to open up a similar business. Chris[/QUOTE]
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