Coins As A Career Path

I told my son's that you pick what you want to do, but try to be the best at what ever you do...
My first suggestion would be to read everything you can get your hands on.
Second, you might want to join ANA... They have a newsletter and a monthly online magazine full of info.
Best of luck to you...

If I had to do it all over again, I'd try to get a job at one of the Mints. Be on the inside, get the inside scoop. Drop a few dime or penny planchets into the quarter runs and pluck them out on the other side. Save for a rainy day. Maybe create some double-dies (by accident of course), and hoard them as your own. Run the machines for way too long so that the late die stage is almost unrecognizable as a coin and be sure to send that batch off for Mint Set stuffing. I'm sure this stuff goes on all the time.

Yeah Mike what's up with that ? At least keep that to yourself ,don't tell the entire Coin World what you would do .

I grew up collecting coins and I got my start as a dealer when I sold of my original collection to help pay my tuition second semester of freshman year. I continued to buy and sell all the way through the rest of college. That's the way most coin dealers start, and gradually grow and grow.




The coin industry is a bit different than most other fields. There is not one particular path that coin dealers go through to get there. There are many well known dealers who didn't go to college, there are some with extraordinary education. There are some dealers who make a living because they have a great eye for coins, others who might not have the best eye for coins, but are great businessmen.

IMO, the best way to develop these skills is to spend time with people currently in the industry. I learned more spending time with dealers at shows than any program could have ever taught me. Many times, you will find dealers who have been in the business for decades, very willing to freely share their knowledge with a younger dealer who they like.

You need to be able to identify very deceiving fake coins quickly and confidently, especially if you are buying for the business. You need an extensive supporting library on this subject, as well as good professional subscription paid support in this regard.

You need a good safe and in some parts of the U.S., good gun handling skills. However, you must remember that the safety of your family comes first.
Good cash flow is essential.

You need to have a good idea of customer psychology. The best car dealer trainees in the best car sales businesses get the right training.

You need to have good basic business skills.
You need to have a good business model that satisfies the Bank, so that your line of credit remains good.
You need a good accountant that understands your business model.
You will need public liability insurance if you are setting up a bricks and mortar shop.

Best to start off at home with a web site, where you are the only employee. The business risks are smaller in this environment, but the profit volumes will almost certainly be smaller as well.

If you expand your business, you must be prepared to attend shows, carry your best stock along with the security risks that are attached to that, and pay all show and accommodation fees.

Underpinning all of that,
you need to be enthusiastic, and have a good general numismatic knowledge.

Wow! There is some phenomenal advice here.

IMHO one of the greatest abilities you would need to possess is recognizing counterfeits. Only way to become proficient at that is to be around coins all the time. You're at an exciting time in your life and seem intelligent since you're asking the right questions. Whatever route you choose make sure you enjoy it. Enjoying what you do everyday for a living greatly impacts all other aspects of your life. Good Luck to you.

EDIT: Mysilveryears below does have a great idea. I'd bet Heritage Auctions has internships and the like.

Decisions, decisions.

One one hand, I feel that once it becomes your job it will no longer be fun.

On the other hand, it has been said that if you find something you love to do then you will never have to work a day in your life.

I guess I cannot really help you here.