Small time dealers?

TheGoonies1985

Would like to know if any of you have made it as small time side dealers or not? How long have you been at it?

winesteven

I’m in regular contact with a young (early 20’s) college student who attends most major shows. He has built himself a nice client base, as he searches shows for coins on their Want Lists.

He’s helped me a LOT with my unique Indian Head Cent set, often “making” coins. He knows I’ll only buy eye appealing high grade IHC’s that have both a CAC sticker and Rick Snow’s Eagle Eye Photo Seal. So if he sees a coin that I need at a show that has just a CAC, he has an arrangement with Rick and shows him the coin to see if it will Photo Seal. If it does, he then sells me the coin. If it won’t merit the Photo Seal, he sells it to another client of his that is more than happy with just a CAC sticker.

Separately, he’s bought raw coins that he’d sell to me if they graded right, as long as it then got a CAC sticker and Eagle Eye Photo Seal. Below are photos of a coin he bought raw from the bourse that is one of “our” success stories. He loved the eye appeal, and sent it to PCGS for grading. It graded right, for my needs, and he then had Rick apply his Photo Seal. He then sent it to CAC, and it stickered. As such, I then bought it from him, paying him handsomely for his efforts.

Here are the photos:

Steve

jmlanzaf

What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

TheGoonies1985

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

Sorry I thought this was a question for me then realized it was not.

winesteven

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

I use the term “made” to mean more had to be done with the coin for me to buy it from him than him simply finding the coin on the bourse ready for me to buy it, with both stickers already in place for me when he found the coin. See my examples above.

He’s super bright, graduating with a Bachelor’s degree in May in a highly specialized major. Yes, that will be his “Day Job”, and this will continue to be a profitable and fun sideline for him.

Steve

jmlanzaf

@winesteven said:

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

I use the term “made” to mean more had to be done with the coin for me to buy it from him than him simply finding the coin on the bourse ready for me to buy it, with both stickers already in place for me when he found the coin. See my examples above.

He’s super bright, graduating with a Bachelor’s degree in May in a highly specialized major. Yes, that will be his “Day Job”, and this will continue to be a profitable and fun sideline for him.

Steve

Thanks. I knew what you meant but the OP's meaning was less clear.

@PillarDollarCollector said:

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

Sorry I thought this was a question for me then realized it was not.

I've done it for 25 years. As a side gig, there would be no reason to fold up due to lack of sales. Selling isn't the hard part, buying is.

jmlanzaf

@PillarDollarCollector said:

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

Sorry I thought this was a question for me then realized it was not.

No. It was meant for you.

winesteven

@jmlanzaf said:

@PillarDollarCollector said:

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

Sorry I thought this was a question for me then realized it was not.

No. It was meant for you.

Oh, and here I thought the “made it” question was for me, lol, but now I see it was meant for @PillarDollarCollector .

Steve

ricko

@winesteven.... That is one super beautiful IHC.... Cheers, RickO

Kliao

I don't know what counts as 'made it' but I do some dealing on the side myself. Mostly on my free and off times to give me something to do.

Walkerguy21D

** Selling isn't the hard part, buying is.**

Roger that, that’s why I got out. My main source, a former part time guy that had inside connections with the south Florida estate handlers, changed his business model. He then went full time on the national circuit and became pretty successful.

ctf_error_coins

I went from collector to part time dealer to small dealer to I guess the 2nd or 3rd largest error coin dealer.

The process took about 20 years and it is really fun.

jacrispies

Every minute I am not studying Mechanical Engineering or spending time with friends, I am examining, writing about, and trading capped bust halves.

I do not think I can say that I have "made it" as a small time dealer. It has built connections, long term friends, business opportunities, and of course, made money. A perfect side job that I am trying to expand through being a bust half specialist. And of course I love it!

TheGoonies1985

@jmlanzaf said:

@PillarDollarCollector said:

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

Sorry I thought this was a question for me then realized it was not.

No. It was meant for you.

I simply meant people that have done it for a while without having to fold and have turned a profit more times than not.

MasonG

@PillarDollarCollector said:

@jmlanzaf said:

@PillarDollarCollector said:

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

Sorry I thought this was a question for me then realized it was not.

No. It was meant for you.

I simply meant people that have done it for a while without having to fold and have turned a profit more times than not.

I have been selling on eBay for about 25 years. I have never had a year without a profit, some were not particularly large. I paid my mortgage off 15 years early with those profits, which has allowed me to retire. I had fleeting thoughts some years ago about trying to do it full-time. However, in the end, I agree with @jmlanzaf... "But there's a reason most people keep their day job."

DelawareDoons

I went from a casual coin roll hunter to a serious coin roll hunter and small time flipper to running a decent sized operation on the side over the course of about 10 years. I wanted out of my day job for a few years, and was working towards opening a shop, or at least quitting my job to really focus on dealing, then an opportunity presented itself to join a major firm.

I took it. I certainly feel like I was on my way to making it before shutting down, and I guess in some ways, working for a big firm is having made it, though not really the OP's definition of it. YYMV of course, but that's my experience.

silverpop

been selling coins for a little over 14 or more yrs, as for making it depends on many factors

1madman

@jmlanzaf said:
What does "made it" mean? A lot of people deal a little in the side, including myself. But there's a reason most people keep their day job.

Sorry I thought this was a question for me then realized it was not.

I've done it for 25 years. As a side gig, there would be no reason to fold up due to lack of sales. Selling isn't the hard part, buying is.

One of the best buying opportunities for coins in recent decades came from the years 2015-2019. Good thing you’re not buying now, because this is a sellers market. Anyone holding on to coins basically less than unique at this point need to consider dumping at these record prices.

smalltime

Been dealing in raw Kennedy Half Dollars since 2014 on Ebay. I open the mint rolls and take the culls to the bank at a big loss and sell the rest in Gem Sets. Occasionally snag a great coin to add to my registry set. Have sold about 55,000 Kennedys so far. I think I am successful (made it). Like mentioned above, buying is the hard part. ALWAYS on the lookout for a decent deal on rolls.

TheGoonies1985

Glad to see it has worked out for some of you!!!