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<p>[QUOTE=&quot;Colonialjohn, post: 2111835, member: 57741&quot;]It is difficult staying even and making a profit in coins or stamps. Here are some rules I always used to continually make BIG PROFIT margins ...</p><p>&nbsp;</p><p>1. Stay away from Modern Types - Non-Silver Proof Sets, U.S. Mint Issues, etc. Modern stuff generally KILLS YOU. There are some gains in slabbing MS69/70 type coins for the generalist. Its a crazy world we live in ...</p><p>2. Buy the book before the coin. Buy historical coins but be careful in buying coins which have MAXED OUT. U.S. Large Cents or U.S. Colonials at Condition Census Levels - High Profile Collections - unless you agree there is no other way to obtain this specimen and realize you will lose money or break even due to auction frenzy and high auction (17.5% commissions).</p><p>3. Check coin catalogs of major collections. What went hot - what went soft. Each series or Country has GO TO coins.</p><p>4. Buy Foreign - most areas are still virgin and not infested with greed, slabbing and MS grading games if not losing money or you feel you are now stuck in a buy high/sell high scenario - be honest.</p><p>5. Are you into coins simply for its social ramifications? Yes? If so - Then don&#039;t spend much.</p><p>6. Are you into coins for both social and retirement considerations?</p><p>7. What are the dealers buying for their own collections that you also specialize in?</p><p>8. What are they selling to put food on the table?</p><p>9. Always work your collections. I meet and know people that just buy. Any idiot can just buy. When you sell and try to make a profit or break even it makes you a more rounded collector. Few understand this principle.</p><p>10. Research or write papers of your coin collecting area of interest. It helps promote your area and makes you more of a solid collector. Know the inner circle of the top dealers in your niche. Know them - VERY WELL. A dealer once told me from California if I was to buy my merchandise strictly from the two big auction houses today I would be out of buisness in a year. Buy raw - slab UP in grade - there is your profit margin - destroy the pedigrees from the 1800&#039;s - I see this all the time. Some things are horrible. But these few IDIOTS do need to make a living. Its the signs of the times. Many of my pedigree U.S. Colonials are now in generic slabs with grades 1-3 X higher.</p><p>11. There is always another collection - there is no Santa Claus in numismatics - and the average collector spends 20 mintes/week with his coins which explains alot of your inquires.</p><p>&nbsp;</p><p>Coin Collecting is around to stay for awhile - but tens of thousand $$$ are flushed down the toliet each week. Its a TOUGH hobby. No doubt.</p><p>&nbsp;</p><p>John Lorenzo</p><p>Numismatist</p><p>United States[/QUOTE]</p><p><br /></p>

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