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<p>[QUOTE="stldanceartist, post: 7918282, member: 13307"]But what would you know, anyway...you're just a caveman! Coin shops and their shiny little pieces of metal frighten and confuse you...</p><p><br /></p><p><br /></p><p>On a more serious note, yeah, I have been kind of wondering how to solve that problem myself. The single most common issue I've heard from dealers/shop owners is that finding new inventory is the hardest thing about running a shop. </p><p><br /></p><p>So, you need to have a physical store that's near enough to an area of population large enough to buy from you, you also have to consistently bring in new merchandise that satisfies a variety of collecting interests. </p><p><br /></p><p>From what I've observed, the two easiest things to sell are really high end collectible items (think MS-graded Morgan Dollars) and really dirt cheap items. What shops are consistently left with are the lower mid-range, "too good to sell at spot but not good enough that people want to pay more than spot" items. Problem coins. Low grade semi-keys, cleaned/damaged/fingerprinted BU coins, common dates in XF-AU where the book value is only a dollar or two. It's merchandise like that you ALWAYS see in a shop, because the shop owners haven't figured out a way to move it as quickly as the nice stuff or the cheap stuff, so it makes up a large portion of their inventory. </p><p><br /></p><p>So, do you outsource your buying around the country (say, hiring people in a variety of places to buy you new stuff?) and then bring it back to your physical location to sell? Or do you take a hint from retail chains and have multiple locations around the country, moving merchandise from a location where it isn't selling to one where it might? Your problem is going to be finding competent and trustworthy employees, maintaining speedy inventory control, and cutting down as much as you can with shipping costs. You need someone who's really, REALLY tech savvy to make sure you know what you actually have to sell, someone who can compile and interpret your sales data to make sure you're getting product where it will sell, and all sorts of other concerns I'm not listing right now - including finding a way to keep profitable in the midst of all these moving parts.</p><p><br /></p><p>I kind of wonder if a group of collectors from different areas could band together and put something together that would work better than the system of "dealing with grumpy old men" like you say.[/QUOTE]</p><p><br /></p>
[QUOTE="stldanceartist, post: 7918282, member: 13307"]But what would you know, anyway...you're just a caveman! Coin shops and their shiny little pieces of metal frighten and confuse you... On a more serious note, yeah, I have been kind of wondering how to solve that problem myself. The single most common issue I've heard from dealers/shop owners is that finding new inventory is the hardest thing about running a shop. So, you need to have a physical store that's near enough to an area of population large enough to buy from you, you also have to consistently bring in new merchandise that satisfies a variety of collecting interests. From what I've observed, the two easiest things to sell are really high end collectible items (think MS-graded Morgan Dollars) and really dirt cheap items. What shops are consistently left with are the lower mid-range, "too good to sell at spot but not good enough that people want to pay more than spot" items. Problem coins. Low grade semi-keys, cleaned/damaged/fingerprinted BU coins, common dates in XF-AU where the book value is only a dollar or two. It's merchandise like that you ALWAYS see in a shop, because the shop owners haven't figured out a way to move it as quickly as the nice stuff or the cheap stuff, so it makes up a large portion of their inventory. So, do you outsource your buying around the country (say, hiring people in a variety of places to buy you new stuff?) and then bring it back to your physical location to sell? Or do you take a hint from retail chains and have multiple locations around the country, moving merchandise from a location where it isn't selling to one where it might? Your problem is going to be finding competent and trustworthy employees, maintaining speedy inventory control, and cutting down as much as you can with shipping costs. You need someone who's really, REALLY tech savvy to make sure you know what you actually have to sell, someone who can compile and interpret your sales data to make sure you're getting product where it will sell, and all sorts of other concerns I'm not listing right now - including finding a way to keep profitable in the midst of all these moving parts. I kind of wonder if a group of collectors from different areas could band together and put something together that would work better than the system of "dealing with grumpy old men" like you say.[/QUOTE]
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