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<p>[QUOTE="mynamespat, post: 4869279, member: 83738"]Coin dealing is super low margins. Most dealers make a living from volume of sales. Selling a lot of coins requires a large inventory. A large inventory requires a large initial investment.</p><p><br /></p><p>If you want to sell coins, do it because it's something you enjoy and have time to kill. Don't expect to start making a living from it anytime soon unless you have deep pockets, or an advanced knowledge which gives you an edge over the market.</p><p><br /></p><p>If you are profiting ~$5-20 on sales (you didn't mention coin values, but let us assume on $50-$200 coins for a ~10% profit margin), you are doing pretty darn well just starting out.</p><p><br /></p><p>My advice: Do the coin sales because its fun. Then use the knowledge of online selling you acquire to sell a product which is less niche and more commoditized. There is way more money to be made in Sham-wows and Foreman Grills (socks and lip balm; tape dispensers and soap holders ...etc) than there is in coins.[/QUOTE]</p><p><br /></p>
[QUOTE="mynamespat, post: 4869279, member: 83738"]Coin dealing is super low margins. Most dealers make a living from volume of sales. Selling a lot of coins requires a large inventory. A large inventory requires a large initial investment. If you want to sell coins, do it because it's something you enjoy and have time to kill. Don't expect to start making a living from it anytime soon unless you have deep pockets, or an advanced knowledge which gives you an edge over the market. If you are profiting ~$5-20 on sales (you didn't mention coin values, but let us assume on $50-$200 coins for a ~10% profit margin), you are doing pretty darn well just starting out. My advice: Do the coin sales because its fun. Then use the knowledge of online selling you acquire to sell a product which is less niche and more commoditized. There is way more money to be made in Sham-wows and Foreman Grills (socks and lip balm; tape dispensers and soap holders ...etc) than there is in coins.[/QUOTE]
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