Anyone actually make a living?

ElmerFusterpuck

Buying and selling coins on Ebay, shows, etc.? With my industry (IT) heading for the crapper, I'm looking at starting up on the side. I figure I ain't gonna get rich (or make a living ), but it couldn't hurt to ask. Thanks!

BSqr

Hey Elmer I'm in IT too (in Texas). What do you do exactly?

medicain19

I don't do this for a living, just collecting and I do have a little gold and silver in my portfolio. Never hurts.

MadMarty

Count my in with this bunch, been out of work for 7 months. The IT job market blows up here...

Bustman

I think it would be VERY difficult to sell high end coins only on eBay. Anaconda is one of the few I know that seems to do well in that venue. As for the rest of it, much like starting any new business, it will help to have some cash reserves. Most new business ventures do not make money in the first year or two. The coin biz seems to have a huge learning curve ( and an expensive one at that).

nwcs

I thought about it, but I am not much of a seller. That is, I'm not a good seller. But I am going to sell a few more coins here in the next month or so.

TheNumish

Without knowing what kind of experience you have with coins and what areas you collect it's hard to answer your question. Since you plan to start doing it on the side you have nothing to loose. The bad news is that coins are expensive to inventory but the good news is selling on ebay or going to local shows isn't expensive. The trick is to have an area of expertise where you know the market better than everyone else.

Tell us a little more about what you'd buy and sell and maybe I can help out a little more.

agentjim007

You'll have to put up with A-holes like me...sure you want in?

dakra

I made a living at it for a while and I'm still trying. I too was in the IT field and after my job was "outsourced" the first time, I started selling some "junk" from the basement. I was probably pulling in about $1000 a month. Junk included an orignal brunette barbie, German Beer Steins, China... At that point I didn't sell any coins with exception to First Day Coin Covers.

I was doing really well and decided one Saturday to start going to garage sales. At one particular garage sale I found a "Rabbit In A Hat" Crystal "Bottle Topper"... the lady wanted $3 for it.. I didn't have a dime on me at the time so I went to the bank, came back and plopped $3 down for that "Bottle Topper". The lady pulled out a cylidrical (sp) container pulled out some foam and showed me how it went into the container... I wasn't thinking anything other than "geez, I hope my neighbors don't see me at a garage sale" When I got into the car, I found that the piece was made by Zworovski... My wife was very impressed and let me know that Zworovski is lead crystal made in Austria....very popular. I researched it on the internet and it turned out to be a retired piece and was worth around $150? I sold it on ebay for about $140.

When my job was "Eliminated" this past January, I decided the first thing to go was my coin collection. My coin collection was a sign of better times and since my wife and I were struggling the past 2 years, I needed a quick infusion of cash. I sold off a good deal of my modern coins and I didn't realize until I started going through what I had... just how many Proof and Silver Proof Sets I had accumulated. I did extremely well selling that I actually had enough money to start a Peace Dollar collection... which is almost complete.

Ebay is great even if you have a job. While the economy is in the crapper you end up bringing in a bit more cash. I wouldn't limit yourself to coins and if your going to buy coins to turn around to sell them, you need to research carefully. If you sell low end, you might want to consider Ebay, Paypal, shipping supplies..etc. Last year I went a bit crazy and developed an Excel Spreadsheet to figure out my cost and profit.

and finally, I have noticed that with the economy as bad as it is, some people are cutting back on spending. Beer Stein's I sold last year for $100-200 are now selling at $20-70, Toy Trucks that were selling near $30 now are selling near $10.

Just a few tips and thoughts...
-Dave

ElmerFusterpuck

Thanks for all the responses so far.

I t was almost midnight when I posted, that's why so short. I've been collecting mostly U.S. (half cents thru $20 gold) for over 30 years now, but have sold precious few items of that collection. I have done some trades, but that's about it. I do have a digital camera and think I have the photography down pretty good, after 1000's of failures, missteps and so on. I've collected mostly on eye appeal, especially the past 10 years. I've gotten some raw, quite a few slabbed (no ACG) and am looking to get a little extra income. Some of the coins include some nicely toned dollars, Bust halves, and others. Most of my stuff would be in the $10 - $500 range, with a few possibly more.

I'm still one of the lucky employed IT folks, but figure that could end at any time due to outsourcing and 'hidden' management agendas. BSqr - that handle sounds awfully familiar. Did you once work at a large insurance company in the training dept? If so, we've run into each other at one time or another. If you want, drop me a message thru this board.

As for the ones out of work - sorry to hear that. This 'recovery' has hit more people I've known than in the past. It's easy for some people to say only the slackers get hit with a layoff, but that has not been the case this time. When someone you worked with once disappears from your work area with no explanation, it makes you wonder, to put it kindly. Trust is becoming a very scarce commodity at work nowadays, and it's very difficult to get back. Maybe this is the 'new economy'. OK, time to get off the box...

I'll probably start posting some items for sale within the next couple of months or so.