Any Advise On Becoming A Coin Dealer?

I was once at a Long Beach show and passed by a table where a very studious looking young man was sitting. He looked a little forlorn to me and I think I said something like, this must be a very interesting, fun job, to be a coin dealer? He responded by saying, you know, it's about as easy to be successful in this as it is to one day just up and decide to become a professional hockey player.

I would say at first, besides studying and gaining as much numismatic knowledge as possible, maybe try taking a table at some small shows with the goal of just having some fun. I've done this a few times and found it to be lots of fun. This way, you get a chance to bid on coins that people bring by and to become known locally. Lots of interesting people come by and it's a great learning experience. Be sure to have someone else at your table so that you have time to walk the bourse floor and look at other dealer's stuff and make acquaintances. Some people in my area have ads for buying coins in the yellow pages or in the local shopper type newspaper. When meeting someone for a sale/purchase, try to do it in a public place like your bank. A dealer in my area always does this for security, and because he has all his better coins in the bank safe deposit box.

So, I would say at first, focus on the enjoyment to be had by dealing on a small scale, then, if successful, branch out later. ebay sales, bigger shows...

Almost forgot to add, don't quit your day job yet!

First, I would suggest taking an ethics course. The world doesn't need another dishonest dealer.

Second, I would suggest that you will need to work your a** off. Because if you're going to be honest, it's going to be hard to earn a living.

Third, if you haven't already, go to a live auction. I've been to a few and they're fun. It's where dealers get a lot of their inventory. Good collect coins don't usually find you.....

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