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Replies: 9 / Views: 1,229 |
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Valued Member
United States
231 Posts |
Okay I know there are probably hundreds of them out there and ebay is going nuts with coin collecters, but I have been learning about website design and all my practice sites have had something to do with coins. I actually had the thought today (crazy though it may be) that I should start my own website to retail coins. Littleton is so overpriced and I know I could beat their prices, but do any of you think I could even have a chance to build a customer base? For the record it would be an expensive and timely venture that could sink me if it flops. I don't know, I really want to do this, but I am afraid I might be getting ahead of myself. Any thoughts? Thought I should add that inventory is not a problem.
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Pillar of the Community
 United States
5953 Posts |
Getting your site noticed is going to be your biggest problem; its customers that will keep it running so I would concentrate most of my research into how people find web sites...
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Pillar of the Community
United States
2797 Posts |
Phil, I'm looking for new sources all the time and predominantly on the web. My local brick and mortar shop is a huge disappointment and the next nearest is 40 miles away. Your success would depend on many things, most notably as Richard mentioned is recognition. Other key ingredients are website design and functionality; quality product at a reasonable price; service during and after the sale to keep em' coming back. Littleton probably spends a lot of money on their website construction and maintenance; placing themselves on search engines, national advertising, etc. You probably wouldn't destroy their niche any time soon. A business strategy for you could include ebay listings with links to your website for follow-on business. Just remember, there are thousands and thousands of businesses competing through ebay, websites and brick and mortar businesses ... somehow you will need to stand out. How ambitious are you? 
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Pillar of the Community
United States
2335 Posts |
Yeah, there are hundreds of websites selling coins. Unfortunately, the few that have pictures of their inventory seem to priced at the high end of retail. I don't know if the labor involved with photographing individual coins would still allow for low prices, but it would definitely influence my decision to shop there. A good return policy is also helpful.
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Valued Member
United States
254 Posts |
That sounds like a very ambitious project, philney. I'd love to see what you are capable of, but I'd hate to see you suffer financially if it doesn't pan out well enough. Is there any way you could make the website but still keep a different job, or perhaps do something additional on the side (e.g., build websites for companies or other people for a fee)? I imagine when you first start, after the website is built and you're essentially waiting for a customer base to build, you'll have some extra time to spend on other projects. BTW, are you coding everything yourself or using a CMS? If you're using a CMS, take a look at Drupal and see what you think. As far as the site is concerned, here's what I really like to see: 1) professional presentation 2) loads quickly (limit your images) 3) uncluttered design (very important!! check out https://www.davidjbauer.com and https://www.sweetlous.net for my examples of relatively uncluttered design... although I haven't finished sweetlous yet) 4) few page loads (use javascript tabs, ajax, modal windows, etc. instead) 5) for anything for sale, top-notch pictures are a must along with an accurate and detailed description, liberal return policy, and reasonable shipping/handling Good luck and keep us posted!! Regards, ~neuron
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Valued Member
 United States
231 Posts |
Thank you so much for the input. I am working on pictures and seeing how difficult it would be to include pictures of (most of) the coins. I don't suppose there is a need for pictures of the proof sets or rolls, just the circulated coins. I am currently looking into search engine optimization and finding that these guys spend A LOT to be noticed. I am still thinking very strongly about it though.
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Valued Member
United States
64 Posts |
quote: I don't suppose there is a need for pictures of the proof sets or rolls
My opinion is that in order to sell anything, pictures are very important. It's not just to see the grade, I think it gives the buyer a better feeling, an impression of physically getting a "real object", if that makes any sense. It does involve some money for the equipment, as well as knowledge and time. For the related costs, besides buying your inventory, think about the web site design, the web hosting (file size and bandwidth), shopping cart (professional look and great functionality), payment processing fees, marketing costs (even minimal, people have to know you exist), ebay fees (a good way to reach a large number of shoppers), the cost of the packaging and shipping material, etc. I don't want to discourage you, but it's important to know if after all these costs, you can still offer a low price on your coins. We started our web coin business in 2006, and we're continually building our selection of coins and our customer base. It's very enjoyable, and very difficult at the same time.
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Pillar of the Community
United States
749 Posts |
I wish you lots of luck Phil 
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Valued Member
 United States
231 Posts |
Thanks Lucky...Pmallette you bring up some very valid points. I do have everything you listed covered except for the design and the marketing. I am working on the site right now and it is coming along, but I will never try this again. It is kicking my rear. I have researched the marketing a bit, but not extensively enough to calculate an actual cost. I am somewhat frightened of that. Does anyone know if I am allowed to post the link to the website in its stages of development and get feedback from the forum while I work on it? If anyone's opinion can be trusted, it's you guys. And thanks for all the encouragement and info so far. I would love to hear more.
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Bedrock of the Community
United States
20753 Posts |
My suggestion is way, way to late. Several years ago would have been a great idea but today, way to much compitition. Numerous coin web sites, coin forums, coin stores, coin shows, coin books, etc. Just to late. As to Littleton, they have no compitition in prices. No one in their right mind would charge what they charge. Attempting to start any coin store, web site, etc today is sort of like the numerous people that tried to jump on the band wagon with renting or selling VHS tapes. I use this example since I just saw another one out of buisness today. To many people try what everyone else already did some time in the recent past. They did it with Beanie Babies, Baseball and Football cards, etc. Just to late.
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Replies: 9 / Views: 1,229 |
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