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Is It Possible To Earn A Living With Coins?

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Pillar of the Community
denco7's Avatar
United States
2543 Posts
 Posted 02/27/2013  6:13 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply

Quote:
I am curious if anyone is earning a living dealing with coins?


I used to play guitar outside the subway with a cup for coins.

I did alright
Valued Member
United States
82 Posts
 Posted 03/05/2013  3:39 pm  Show Profile   Bookmark this reply Add Amcarmar to your friends list Get a Link to this Reply
How much of a commitment of time and money is one willing to make? If both are high then you would do well, even better if you really enjoy it.
Valued Member
mvc's Avatar
United States
138 Posts
 Posted 03/07/2013  8:56 pm  Show Profile   Bookmark this reply Add mvc to your friends list Get a Link to this Reply
I buy and sell part-time. while I like to believe I could make a living doing it full time, I doubt it could top my full time job that has benefits and all those other things my wife and kids depend on. I get a check every two weeks without fail. Not the same for a business owner. Like any business though, if you do not like people, it makes it tougher. I notice at shows, the busy tables are the dealers that can communicate while the ones with their nose in the newspaper do not have anybody at their table. Can you sell, is the name of the game.
Pillar of the Community
rachums107's Avatar
United States
3345 Posts
 Posted 03/07/2013  9:21 pm  Show Profile   Bookmark this reply Add rachums107 to your friends list Get a Link to this Reply
In my honest opinion, customer service is the most important part of a small business. I would direct that towards the name of the coin shop owner who makes me mad, but that wouldnt be nice and he's probably too shy to even come on this forum.
Valued Member
DobermanOwner's Avatar
United States
125 Posts
 Posted 03/08/2013  06:40 am  Show Profile   Bookmark this reply Add DobermanOwner to your friends list Get a Link to this Reply
I'm sure it will pay the bills if you open up a coin shop or something...

I depend way too much on getting that twice-monthly check from the bossman. It would drive me insane not to have a steady income. Plus, I love the career I have now and couldn't see myself doing anything else. Coins will just be a hobby for me. =)
Valued Member
capsnhawks's Avatar
United States
134 Posts
 Posted 03/08/2013  12:51 pm  Show Profile   Bookmark this reply Add capsnhawks to your friends list Get a Link to this Reply
I have a family member who works for a coin dealer who operates three store fronts, conducts minimal on-line transactions, employs 15 people, and makes a fantastic living at selling coins. He buys everything that comes across his counters, travels to buy collections, owns a huge inventory, deals in large volumes, and has a dedicated network of customers and buyers. He's been at the business for a while, but is sure has paid off.
Valued Member
kg5's Avatar
Australia
491 Posts
 Posted 03/08/2013  9:54 pm  Show Profile   Bookmark this reply Add kg5 to your friends list Get a Link to this Reply
I am in a position where my wife and I sell a collectable on ebay and it has worked out very nicely. It just helps us to make ends meet and adds some nice extras. It took 15 years of buying at auction houses to build our huge collection. Then we decided to start selling so we would not loose our home.

Coins are a totally different kettle of fish and I have looked long and hard at them as something to sell so I can start a collection. As in our position I have to sell so I can afford to collect.

But if I was to start selling coins from scratch I would!

Not buy and sell PM's as this is total craziness if you are going to kick off a coin selling business.

Noodling from Banks etc has to be the smartest way to start selling anything I have come across so long as you have plenty of time.

I would then try to earn $100 noodling by selling on ebay with the 50 free listings per month and then buy my first bulk lot at an auction house. That buy would be in the one area that I have decided to specialise in. This process also starts your credibility off as a seller on ebay.

From the start of all this I would be looking at all the information I can find on the one area of collecting I had chosen. I would be looking on CCF, books from the library and searching online. No costly buying of information!

Small beginnings grow into the most amazing things! Big, costly starts fall apart. You have to start at the beginning and not at the end. Be smart and start small! It is just not the go to be in debt because of your stock. How can you grow or buy that great auction house lot that you found if you are in debt?

Edited by kg5
03/08/2013 10:01 pm
Valued Member
jlgaudlitz95's Avatar
United States
280 Posts
 Posted 03/08/2013  10:07 pm  Show Profile   Bookmark this reply Add jlgaudlitz95 to your friends list Get a Link to this Reply
Great way to make money from coins: CRHing. FadeToBlack and other members of this forum make a lot of money searching for silver and error from half dollars and other denominations. It is rather tedious and a lot of work, but fun all the same.
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