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<p>[QUOTE=&quot;GDJMSP, post: 2415859, member: 112&quot;]Figuring out what your profit margin needs to be to make a coin business viable is a fairly straightforward process. However, actually achieving that is not.</p><p><br /></p><p>There is an old, and very accurate saying - you make your money when you buy coins, not when you sell them. And that&#039;s the hard part.</p><p><br /></p><p>The reason it&#039;s the hard part is this. What you sell a coin for is a predetermined number - cost + profit margin. And if you&#039;ve constructed a working business model you <u>know</u> what your profit margin needs to be. But do you know what your cost needs to be ? To know that, you have to know the market - you have to <u>know</u> how much you can sell a given coin for, before you ever buy it. And that&#039;s the stumbling block.</p><p><br /></p><p>The coin market is like a living thing, it moves all the time. It goes up, it goes down, and it goes sideways. And if you don&#039;t know where it is, and where it is likely to go in the near future, then it becomes all to easy to lose. And even if you know the market, you still have to know the coins. In other words you have to be able to grade the coins, to accurately judge the coins, appraise them. You have to know if they are under-graded, graded correctly, over-graded, and most importantly what a potential buyers opinion will be of the coin. You also have to know if it is common, scarce, rare, readily available or hard to get - and no that is not same as common, scarce or rare. And if you want to have a successful business you have to know all of these things before you can figure out what your cost needs to be. </p><p><br /></p><p>So if you can&#039;t do that, well then you probably shouldn&#039;t try.[/QUOTE]</p><p><br /></p>

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