The only thing I got to say, is this. Is all the stuff you are buying just junk? Or do you have any nice MS pieces? I mean, it seems to me, if you pay top price for let's say culls...Then how do you expect to turn around and make any profit whatsoever on pieces that nobody wants, and that's why you are getting them at the price you are...Because the collector does not want them, that's why. I've always held one good saying " better to spend 500 bucks on one nice MS coin, than to go off and spend 500 bucks on 500 coins that Maybe give you 10 bucks profit....in the NEXT TEN YEARS...I haven't been collecting that long, but, I know one thing for certain, a collector might like junk the first go around, but, pretty soon the taste for nice high grade and rarer coins comes into play...If you are without these desireable pieces....Where stands you then? But, hey, if you are in fact buying nice MS examples as well as your cull stuff, more power to ya. Just keep in mind that people like myself can search through bank rolls and spend face value for coins that look much better than culls.... I have to admit, your price on wheaties is a good price I do suppose at .03 each, they actually sell quite good by the roll, but, take in mind...I am a collector, and I buy my wheaties at .03 cents each....By the 5 thousand bags...Once someone gets a deal like that, X out your oppurtunity of trying to pass them off at .10 each....People do although make a couple bucks selling them at .10....But always realize, somewhere out there, there is a better deal waiting to happen, and the majority of collectors thrive on this.
Good luck, but its going to be tough with limited resources.
First, money made in the coin buisness at the buying stage, you have to have the resources to be able to buy and not worry about immediately selling. You can't always turn them fast. Also, you may miss out on the next deal, if you spend out on an earlier buying opportunity. Most people that have the better stuff, have a decent size group of coins when they come to sell, and most people are not going to be happy with picking over for only thier better coins.
Second, I notice your post about buying with a check, If I am at a show, I am selling to a dealer, he is not going to get the coins from me by handing me a check, unless I know him/her.
Finally, sometimes things you buy that you think will will be able to sell easily, wont be so easy.
Let's see on Sept. 2nd Greg the great starts a thread about doing a coin show and here is the jest of him wanting a hand-out then
<< <i>If any of you big time dealers or fellow collectors have a few extra coins you don't need anymore and feel like helping an upcoming rookie dealer out let me know. I feel like every item is important from wheat cents to 2004 nickels, to mercs, to roosys to everything. I know its tough in the beginning and the more support I have from the coin industry the better. Please give me some suggestions or if you have a few extra coins you don't mind parting with I would love to add them to my very first table. >>
Today he's only asking for flips. Or perhaps he feels like he's got the good will of the forum figured out and y'all might send a couple coins to go with those flips?
Sorry guy, I gave you the best advice earlier... now get out there and flip them burgers. You will move up to french fries before ya know it.
Please... Save The Stories, Just Answer My Questions, And Tell Me How Much!!!!!
If you can't spring for $3 to $5 worth of 2x2s how are you going going to pay for a table or parking? Not trying to be harsh but it sounds like you should reconsider trying to do business until you are slightly better capitalized..
Greg, I don't know you, but I like your gumption. Send me your Paypal address via a PM and I'll forward $5. to your account. That'll buy you 200 flips and then you're on your way.
Just had an idea--seriously--try a local flea market. Tables are fairly cheap, parents, kids and others are frequently interested in coins and might be a base you could build from. I've seen a number of sellers at flea markets that offer inexpensive sets, grab bags, well circulated common date Morgans (e.g., "You can own a 100 year old coin for just $13!!!"),etc. Nobody gets hurt and you build some basic business experience.
<< <i>Won't one good forum member step forward and fund this guy for say $250,000 to get him started. Seems like a sure fire busisness propostion. TDN? Legend? Pinnacle? Spectrum? JB? Anyone? >>
This business be the last place I would invest 250k.
<< <i>Just had an idea--seriously--try a local flea market. Tables are fairly cheap, parents, kids and others are frequently interested in coins and might be a base you could build from. I've seen a number of sellers at flea markets that offer inexpensive sets, grab bags, well circulated common date Morgans (e.g., "You can own a 100 year old coin for just $13!!!"),etc. Nobody gets hurt and you build some basic business experience. >>
I have thought about doing flea markets and stuff like that to pick up some extra cash.
I don't have time to read all the posts now because of Fantasy Football but I will try to catch up tonight.
I am bascially going to note all the advice you all gave and let you know how I am doing in a few months.
<< <i>My capital is not as low as it seems.... I am just meerly trying to keep coins as my main focus in my spending. >>
Wanna borrow a pen? I have extra stapler also for your flips but am plumb out of staples. Maybe someone else with throw in the staples.
<< <i>I have dealt in tens of thousands of dollars worth of coins, buying, selling, etc. I have touched upon every aspect of coin collecting from gold, silver, and copper. I know what to buy and how to sell it. I am not trying to seem boastful or egotistical but I do know that market that I am selling to. Many of the people that attend this show have known me for 5-10 years. I know almost all the dealers and have talked to all of them on a 1-1 basic on numerious occasions. >>
If you are so familiar with everything and the dealers you would know how TACKY it wwould seem to post a thread asking for free flips!
Wow! Rough crowd, but in this case I think GtheG is sort of begging for abuse. What we have here is a sizable potential client base. As MD and Lustig (and too many others) intimated, GtheG is hardly putting his best foot forward to impress the masses here.
<< <i>This is not a slam, but if you offer to buy coins on the BST board, you have to offer realistic prices.
What Michael Dixon said. >>
I was selling a lot of totally problem-free G+ Indian cents here a few weeks ago -- with ALL the junk pulled out of the lot and blown out elsewhere -- and my asking price was about 35 cents BELOW Greysheet *bid* in G-4 (about 90 cents each). That offer was shot down in a way that made me feel like I was accused of asking a ridiculous amount of money for them.
BTW, Greg, you should know that I found your unsolicited, spam PM to receive your inventory list annoying in ways too many to list.
Even if I weren't annoyed, I still would not have been interested. Honestly not intending to condescend, but it would not hurt for you to know your target audience and especially to learn how to reach them.
I wish you well on your new venture. I have learned much about starting businesses over the past 15 years. I have started 4 and all are still operating today (I only own 2 presently). Here are two simple lessons I've learned.
A. Learn as much about the business you can. I must say this is a tough one for new coin dealers. I've been around the hobby for several years and it appears the rules are known only between dealers and they are unwritten. And getting into the business seems to depend more on who you know, not necessarily what you know.
B. Capitalization is even more important than knowing the business, however the less you know the better capitalized you need to be. To caluculate your capital needs follow these three steps.
1. Write a 3 month operating plan and calculate every expense. That includes inventory, supplies, licenses, fees, taxes, marketing, payroll, etc. If you can imagine the cost, include it. Do not factor any revenue because for all you know it may not exist.
2. Next add 30% to cover what you didn't think of.
3. And finally DOUBLE IT!
I've seen so many people with great ideas, marvelous skills, amazing dedication, and a very marketable product fail within the first year because they just could not imagine how much cash is required to get through the first months of operation. Without the cash you simply cannot compete at the levels required for success.
Bottom line.......if you can't afford the large purchase of flips now, you will likely never be in a position to afford them in the future. That doesn't mean it is impossible, but it will be a huge uphill climb. I'm a sucker for supporting new entrepeneurs so send me an address and I'll send you some flips. Good Luck!
One thing for sure is GG has posted a lot of posts in a short time wanting to buy buy buy. I wish you luck in your business Greg and I sincerely hope you have a sound business plan and budget in place. Buying everything in site with your working capital is not what I would do starting out that's for sure. You should set a budget for purchasing and keep that separate from your operating budget for expenses such as show fees, parking, meals, hotels, phone, fax, internet etc etc. Your funds for purchasing coins should be set according to how fast you can turn your inventory. IE; say you set aside $10k for purchasing new inventory. Don't buy more than you can turn over in a relatively quick time frame in order to maintiain your purchasing account at peak levels. I'm not a dealer but I would not want to have a coin that I need to fill an order become available and not have the funds on-hand to buy it. Budget Budget Budget! Start small in a manner you can control and build from there.
Part of the deal with the 2x2's is to place a coin in each one and ship back to GTG. That reduces startup costs.
If Greg's targit audiunce was the forum, he'll have to start anuther bussisness modle imo. I would definitiely recommend a spell checker if you put anything in the way of brochures and website.
Again, if $10 for flips is a stretch at this point so will be trying to buy that original set of type coins for $5,000 when they get put in front of you. And a check may not cut it.
I remember placing my first ads in the LSCC's Gobrecht Journal around 1975-1976 when I was around 20-21. I thought I could bring the world to my feet. No such luck. I had some good coins too but barely made up for expenses. The other collectors at that time could find the same buying sources I did. 8 years later I was older and wiser but still dumb. I tried a few Coin World ads in the middle of the paper and I all I got was dumbazz replies. Let's just say it was eye-opening. It takes more than setting up at a show or placing an ad to be successfull. Getting a mentor who is worth their salt is probably the #1 thing.
Remember that we as collectors and dealers are asked frequently to donate money, coins, time, etc, to worthwhile charities and fellow chatters here in times of personal crisis. Many of us cringe when we see yet another request for help for our fellow collectors since many of us get bombarded with charities at home, at work, at our place of worship........etc. etc........is there any sanctuary left???????
Just today, my wife tells me that her annual Kiwanis dues went up AGAIN to $100 and that they will NO LONGER accept semi annual payments. Well EXCUSE ME, KIWANIS.....who is doing the giving???? Then THEY want the dues next week when we always paid it the first week of October????
So I am sure some of us, especially me might be a little grumpy!!!
Then you come along with a small innocent request that in my opinion was poorly worded. You would have scored big time if you had said that you needed an advancement of up to 1000 2x2 'suntil your next order of 10,000 at which time you would send back the 1000 plus a small bonus of 500 2x2 for the fellow dealer helping you out. Now you would look like a big guy asking for a co-op trade. Classy!
But better would have been to ask fellow collectors and dealers here to do some co-op buying in with you. Split and order of 10,000 2 ways or even 3 ways. Everyone loves to do that! Everyone is then a winner.
Look into sharing resources with other dealers and buying bulk supples with them. They LOVE it! even collectors love it.
maybe i should start begging for 2x2,and coins.!! no,i don't think so .not today or ever. it don't make you look so good.hard even to get good info. that all i after here.info. and lots of it. feed me with input.more,more,more ,more and more. i can't get enough info. john
I think that the fleamarket idea is a great one. It will help you polish your people skills and you CAN make some good money. The fleamarket is the perfect place for the lowend stuff that isn't worth putting on ebay. People get to see the coins in hand and if your prices are in line with what you're selling, you'll build up a group of regulars. I've had $600 days at my local fleamarket, 50% or so of that as profit.
I mean it when I say that you'll be able to polish your people skills...not killing the third person in the hour that asks, "Will you take fifty cents for the silver dollar?" is a sign that you're on the right track.
<< <i> I had a job at a shop just like the one you are discribing.... I didn't enjoy it.... I am not looking to make a million dollars, I am looking to start slow and eventually get my own shop.... which I can see happening in the next few years.
I understand what you are saying about the damand on retail coins, however I know what the demand is at the show I am going to and I know where to outsmart the other dealers. I attending the last show they had in August and took notes of what people couldn't find and were looking for and what stuff was readily avalible and not selling. I have cornered the market in all the areas that people did not have occupied. the show is definitly lacking some of the major essentials of a coin show and thats where I am going to hit them.
I can see making between 500-1000 dollars easily at the show.... however I am going to have huge signs that say "SELL YOUR COINS HERE" that way I can pick up some more merchendise at reasonable prices and turn around and sell them....
A quick story.... there was a guy trying to sell 800+ buffalo nickels (most full date) and he wanted I think 20 cents a piece for them and there was not a dealer in the place that would buy them.... now if I can pick up something like that the whole point is made as to what I am trying to do here. I am not looking for a steady coin busisness at first.... I am looking to corner the market in the weak areas and hit the show for a wuick pickup of a grand. Then I have a few more months to get ready for the next one.
The show I am going to be dealing at is very unique because I can take common cheap items and pull a 25% gain on even circ. meterial. I know what I am doing in reguards to this coin show. The demand on the items I am stocking is high and I will have the market locked down.
In reguards to the coin flips.... I was asking for some help from the CU members because thay often like helping new dealers, etc. out. I know I eventually will have to buy the whole big lot of 10000 holders but I was hoping to get some help from the CU board memebrs to hopefully wait until after the first show, seeing as I will have a lot more money after the first show.
I hope this makes sence to all of you now.
Thanks, >>
You are right about this local market, it is very underserved in some areas and this is especially true at the retail level. This show in particular is very one dimensional and there is great opportunity to sell a lot of coins to the public.
I, like many here, fear that you'll find sales to be much slower than is needed to keep you going, especially at first. This show is lightly attended largely because there is such a paucity of material that people seek. It will take some time for the traffic to build even if you are very successfull.
I certainly wish you the best of luck and will check out your inventory if I can get up there.
<< <i>everone gave him free coins,now he want us to gave him the 2x2. are you sure that you don't want someone to sell them for you too.!!!/q]
Might I ask what free coins you are referring to....
If you are refering to the contest I have only recieved one donation and the rest have come from my OWN collection. I was trying to do a Nice thing for the boards but some people can't understand that.
I wish you well on your new venture. I have learned much about starting businesses over the past 15 years. I have started 4 and all are still operating today (I only own 2 presently). Here are two simple lessons I've learned.
A. Learn as much about the business you can. I must say this is a tough one for new coin dealers. I've been around the hobby for several years and it appears the rules are known only between dealers and they are unwritten. And getting into the business seems to depend more on who you know, not necessarily what you know.
B. Capitalization is even more important than knowing the business, however the less you know the better capitalized you need to be. To caluculate your capital needs follow these three steps.
1. Write a 3 month operating plan and calculate every expense. That includes inventory, supplies, licenses, fees, taxes, marketing, payroll, etc. If you can imagine the cost, include it. Do not factor any revenue because for all you know it may not exist.
2. Next add 30% to cover what you didn't think of.
3. And finally DOUBLE IT!
I've seen so many people with great ideas, marvelous skills, amazing dedication, and a very marketable product fail within the first year because they just could not imagine how much cash is required to get through the first months of operation. Without the cash you simply cannot compete at the levels required for success.
Bottom line.......if you can't afford the large purchase of flips now, you will likely never be in a position to afford them in the future. That doesn't mean it is impossible, but it will be a huge uphill climb. I'm a sucker for supporting new entrepeneurs so send me an address and I'll send you some flips. Good Luck! >>
I love that you posted this....
I like the comments and glad that someone understands me.
I have done some good things on the boards, but then there have been some other things that have been construne in a negative way.
I am going to make one final post on this thread and then I am going to never come back to this thread.
Remember that we as collectors and dealers are asked frequently to donate money, coins, time, etc, to worthwhile charities and fellow chatters here in times of personal crisis. Many of us cringe when we see yet another request for help for our fellow collectors since many of us get bombarded with charities at home, at work, at our place of worship........etc. etc........is there any sanctuary left???????
Just today, my wife tells me that her annual Kiwanis dues went up AGAIN to $100 and that they will NO LONGER accept semi annual payments. Well EXCUSE ME, KIWANIS.....who is doing the giving???? Then THEY want the dues next week when we always paid it the first week of October????
So I am sure some of us, especially me might be a little grumpy!!!
Then you come along with a small innocent request that in my opinion was poorly worded. You would have scored big time if you had said that you needed an advancement of up to 1000 2x2 'suntil your next order of 10,000 at which time you would send back the 1000 plus a small bonus of 500 2x2 for the fellow dealer helping you out. Now you would look like a big guy asking for a co-op trade. Classy!
But better would have been to ask fellow collectors and dealers here to do some co-op buying in with you. Split and order of 10,000 2 ways or even 3 ways. Everyone loves to do that! Everyone is then a winner.
Look into sharing resources with other dealers and buying bulk supples with them. They LOVE it! even collectors love it.
Even share phone minutes with your family!
Best of luck! >>
I like what you said.... I concur that that might have been the better approach.
I HAVE LISTENED TO ALL YOUR COMMENTS -----------------------------------------------------
I understand that my way of wording this was poor and that the idea was not the best to say the least. I was mainly looking for people to *give me a leg up* in having an independent indevor.
Let me explain the 2 X 2 situation for the final time.... The company that I order from (and have ordered from for several years) has a price break at 10,000 flips. On my last order (about 2 months ago) I ordered 10,000 flips. I sold some to fellow collectors, gave many away in items I have sold on CU, RCC, and eBay, and have used the rest. I would say I have maybe 75 flips left and they are sizes that I don't need at this time (but will in the future). I was asking for help from the members so that I would not have to purchase 10,000 of them until after the October show. I just can't see paying double price for them at the local shop. I ADMIT that my wording was poor and that I addressed this problem in the wrong way. Many of the points I am trying to make do not come along well in print as they do by mouth. I appologize for any remarks (or lack there of) that I might have made.
I sincerely love all of the comments that you members have given me.... I have read most or all of them and have tried to respond to as many as possible. I have taken all of the words seriously and will always remember them in my adventure.
Although my bankroll is no where near where it needs to be to become a well-established dealer, my goal is to one day be in a position where it can be.
The final words that I have on this topic.....
We all get started somewhere, I hope you can forgive me for anything I have said that offended anyone. I always have extra tablespace for rent and love going in on sales with other people. If I could go back I would change the wording of my initial post. I do sell good coins at fair prices and I do so by buying cheap.... I post those prices that I pay on the boards for anyone who is interested at selling for those prices to contact me, many people just want to unload their old stuff and will still get a better price from me then they will at there local shop (at least the ones I have sold things to). I take pride in my work and believe that I am a good seller and I was a good worker at my old shop.... between the 2 I feel like I have what it takes to make it in the coin business.
I KNOW THE COIN BIZ. IS HARD but that is what makes it so fun. I enjoy a challenge and love seeing how far I can take the road-less-travelled. I am not thinking I am going to get rich overnight, actually I know that is impossible, however I think (and I know people personally that have) worked hard and made it the same way I am doing things.
I will run some fleas with some buff's, merc's and other low-price (great for kids!) items, We all know that every cent counts in the biz. and I am going to build up my bankroll until I can get that shop. I don't give up easily and will work until I get it, if it takes 2 years fine, if it takes 10 years even better. A dollar at a time adds up until I can finally get that store that I want. I know that I am optimistic but optimistic people are people who often end up happy. I am going into it with the right attitude and am going to maintain that attitude until I get what I want.
One final word.... the reason I left my old coin job was because I wanted to have it for myself. I learned the business from him (40 years in the coin industry) and found out the ways to pick up the cash at the shows. I also attended many conventions, seminars, and shows as a part of the company. Although he was not making a million dollars a year he had a quarter-million dollar house and had enough coins to be in business 20 years after he was dead. The coin industry should just not be limited to the big-boys.... the little guy is still an essential part of making the coin industry what it is. The people who set up the small shows with the State Quarters for the little kids and the Morgans for their parents. Coin Collecting is more popular then ever and many people don't order online, they still like going to the mom-and-pop shops and picking up the coin in their hand. I know that I always love picking the coin out myself then having one shipped to me. Their still is a bennifit to the 1 on 1 interaction that can not be derived from an online corperation. Most of you guys started the same way I am (either at the shows or getting a shop) and it all started with that lincoln cent your dad or uncle gave you.... those are the people I care about the kids who will be protecting the industry of tomorrow. I often gave free things to kids when I worked at my old shop.
QUICK STORY One of our regulars had their grandson interested in the hobby. One day he asked his grandad for a loupe and he said that he would not pay the $30 for a novice like him to have one. The kid was turned off from the hobby because he wanted to fit in with the other people in the shop.... after he failed to come for 3 or 4 visits I realized that he felt uncomfortable without a loupe. I then placed an order with my distrib. for a loupe (as well as some other items for me) and then told his grandad to bring him into the shop. I gave him that as well as a partial lincoln head cent book..... that kid still to the day I left the shop spends his afterschool life living at the shop. Something as small as a $30 loupe can make all the difference in somebody's life.
Thats why I want to be back in the industry.... to give the 8 year old a free buffalo nickel, and to give away a partial wheat cent whitman set. I like appealing to the kids and the adults and making relationships with collectors that last a lifetime. I could go on all day about things like that but I wont waste any more of your time.
IN CONCLUSION I have listened to all the things that you have all said to me and will do my best to avoid the problems I made in this thread. I am not upset at any of you, I am thankful. I thank you for the time you put into considering the words I wrote and having the time to give your opinions to me. We all see things a little differently and that is good, what kind of world would we be in without conflict and debate. I will post back here in a few months with a report on how I am doing.
I would appreciate no snide or dirty remarks in responce to this post, I understand all of the opinions you have stated and to continue to hammer them on the boards would be frivolous. Please just remember that I have stated how sorry I am for offending anyone. I hope you can accept me for a dealer and forgive me for the poor wording I used in this article.
If you have any more to say you can feel free to p.m. me with any other thoughts you might have.
Thanks again to all those who replied to this thread.
<< <i> felt like I have just been sitting here and getting bashed.... >>
It's too bad you feel that way. People pay money for some of the free business advice you've received in this thread, all in just one day. Save this thread and a year from now, see how much of this advice was worthwhile.
<< <i>$30 for a loupe! You can buy a decent 5x loupe for about $5. I'm beginning to think that coin shop you worked at did more harm than good. >>
I bought him a 7 layer gold plated 10 X trip. this was several years ago and $30 was the asking price at the store..... I paid $17 from the company. They were nice loupes not like the cheapies on eBay.
I know I said that I was not going to post again but I felt I had to explain this a little.
The last thing I would give a new collector is a 10x Triplet. You should know this, your coin shop owner/boss should have known this. With a 10x, a new collector is going to grade too harshly.
Why do I keep reading this thread!!! Ugh! . Because, you are possessed!
Thanksgiving National Battlefield Coin Show is November 29-30, 2024 at the Eisenhower Allstar Sportsplex, Gettysburg, PA. Tables are available. WWW.AmericasCoinShows.com
Thanksgiving National Battlefield Coin Show is November 29-30, 2024 at the Eisenhower Allstar Sportsplex, Gettysburg, PA. Tables are available. WWW.AmericasCoinShows.com
A guy without a lot of money professes to be a web developer and doesn't even mention getting a decent domain name and building himself a website to sell his wares. Although the return may be in small steps, it could be the forerunner to a brick and mortar business. Instead he begs the assistance of others to get to the top faster. Hmm, my first thought, given that I do know how to develop websites, is that doing so and running a few leaders here and there on eBay and Yahoo auctions to draw additional attention might get me much farther ahead of the game than panhandling in a forum. Okay, so maybe I'm not the brightest bulb in the fixture, but it sounds to me like a web site approach would have been a far cry better than the approach taken. My two cents.
I cannot believe I read every last word of this thread. Not but a few weeks ago you yourself stated you wanted to sell your "stupid collection"! Those were YOUR words. You're a self proclaimed web-site developer/ computer programmer yet you cannot even spell? Hmmm. Hope you make spelling checkers part of the programs.
You've invested so much money buying second rate coins that you're convinced are in demand, that a $170 business expense is a lot of money, too much to tie up! What? You've got a Fancy Dan display case that's probably worth more than what's in it.
Now let's see, you state you have plenty of experience in the coin biz, you consider $170 a LOT of money, won't carry more than a couple thousand dollars on you( but can't afford $170 for supplies) and intend to buy from Joe public with checks? You're kidding right? Those checks MUST be worthless if $170 is too much to invest into your coin venture that you've come this far in. The flips won't go bad, you know.
Lastly, you state that if you make between $500 and $1000 you will have done well and have made a nice chunk of change...ALL YOUR WORDS! OK, I approach your table and see a bunch of stuff that I wouldn't even take a second look at and I throw down a PCGS 64 1932-D Washington Quarter...What are you going to do? Do you think I'm accepting a check from a perfect stranger especially looking at what he has to offer? I DON'T THINK SO.
Perhaps you've heard of credit cards? How about small business loans. Creditors would be glad to lend you money these days. Maybe you can buy your flips on credit till after you make your big score of $500. Hey, if you've had a credit card long enough the company that issues it usually sends along convenience checks and you can just write a check for whatever figure you feel brave enough to fill in and pay it back with all your profit. You DO have credit and a credit card, don't you?
I don't know how much you're "all in" for but if you've bought enough cheapies to have cornered that market, brother you're gonna need a gimmick to move all those circulated coins and guess what...Bye-Bye profit. All the knowledgable dealers have come here and genuinely tried to give you something better than flips...SOUND ADVICE from years of experience and every time you cop a defensive mode and rationalize that you know exactly what you're doing! What you NEED to do is just shut your Pie hole and learn to LISTEN. You are a wreck waiting to happen!
It's nice to have a dream, a goal but I assure you, judging by your own words, what you have bought, your market survey and business plan are slightly askew if $500 is a big score! The only shot you have is selling to kids or beginners in the form of grab bags or partial collections. If $500 is your big score, in the year 2004 how do you intend to make it, let alone pay bills and survive on that per month? Web site developing looks a lot more lucrative right about now.
Shops have overhead...but hey, you worked in one for so long that you already know this and have taken it into account, right? The day of the little downtown coin shop is damn near History. Do you realize how much inventory you have to move just to meet the shop's expenses? (Lease, utilities, payroll)
Go to your show....do your thing. While I sincerely wish you all the best, believe me that ONE show will be a portent, a harbinger of what is to come. Now, since you've had enough balls to get in this deep, go ahead and order your flips. One way or another you'll eventually need them. You NEED working capital and if you can't afford supplies, a business expense...A WRITE OFF, what ya gonna do when I come to your table with 2 PCGS Quarters that I'm looking to part with for $10,000?
DON"T SAY ANYTHING, just think about it and since you've come this far, play your hand out, win, lose or draw. I'm sure that over the course of time, one way or another you'll be fortunate to break even. Show us that you're right with a truthful tally sheet when this show is done and the next time you come up here you just MAY have learned to be more receptive to the voices of experience. GOOD LUCK!! Believe it or not, no one has attacked you here.
What you SHOULD do is print this entire thread and keep it for your permanent records and then take all the knowledge and experience offered here and couple it with you web site programming skills and open one hell of an on-line Coin Shop. Finis.....
Comments
<< <i>Just consider the source, the one that will pay a whopping $6.30 for Morgans!
Just picked up a piece dollar for $6.50.....
I am finding the stuff at the price I am asking so I don't think I am doing anything to wrong.
-Greg
E-mail GRU Coins
You mean besides alienating hundreds of potential clients by publicly offering stupidly cheap prices?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>
Just picked up a piece dollar for $6.50.....
>>
That's about as much of a dollar as you're going to get for $6.50.......
First, money made in the coin buisness at the buying stage, you have to have the resources to be able to buy and not worry about immediately selling. You can't always turn them fast. Also, you may miss out on the next deal, if you spend out on an earlier buying opportunity. Most people that have the better stuff, have a decent size group of coins when they come to sell, and most people are not going to be happy with picking over for only thier better coins.
Second, I notice your post about buying with a check, If I am at a show, I am selling to a dealer, he is not going to get the coins from me by handing me a check, unless I know him/her.
Finally, sometimes things you buy that you think will will be able to sell easily, wont be so easy.
if you don't mind me asking ,how old are you???
you sound like your about 16,or 17 years old.
littlejohn
What Michael Dixon said.
<< <i>If any of you big time dealers or fellow collectors have a few extra coins you don't need anymore and feel like helping an upcoming rookie dealer out let me know. I feel like every item is important from wheat cents to 2004 nickels, to mercs, to roosys to everything. I know its tough in the beginning and the more support I have from the coin industry the better. Please give me some suggestions or if you have a few extra coins you don't mind parting with I would love to add them to my very first table. >>
Today he's only asking for flips. Or perhaps he feels like he's got the good will of the forum figured out and y'all might send a couple coins to go with those flips?
Sorry guy, I gave you the best advice earlier... now get out there and flip them burgers. You will move up to french fries before ya know it.
peacockcoins
<< <i>Won't one good forum member step forward and fund this guy for say $250,000 to get him started. Seems like a sure fire busisness propostion. TDN? Legend? Pinnacle? Spectrum? JB? Anyone? >>
This business be the last place I would invest 250k.
Darn funny statement!
<< <i>Just had an idea--seriously--try a local flea market. Tables are fairly cheap, parents, kids and others are frequently interested in coins and might be a base you could build from. I've seen a number of sellers at flea markets that offer inexpensive sets, grab bags, well circulated common date Morgans (e.g., "You can own a 100 year old coin for just $13!!!"),etc. Nobody gets hurt and you build some basic business experience. >>
I have thought about doing flea markets and stuff like that to pick up some extra cash.
I don't have time to read all the posts now because of Fantasy Football but I will try to catch up tonight.
I am bascially going to note all the advice you all gave and let you know how I am doing in a few months.
Thanks For The Advice All.
Thanks,
-Greg U
E-mail GRU Coins
<< <i>My capital is not as low as it seems.... I am just meerly trying to keep coins as my main focus in my spending. >>
Wanna borrow a pen? I have extra stapler also for your flips but am plumb out of staples. Maybe someone else with throw in the staples.
<< <i>I have dealt in tens of thousands of dollars worth of coins, buying, selling, etc. I have touched upon every aspect of coin collecting from gold, silver, and copper. I know what to buy and how to sell it. I am not trying to seem boastful or egotistical but I do know that market that I am selling to. Many of the people that attend this show have known me for 5-10 years. I know almost all the dealers and have talked to all of them on a 1-1 basic on numerious occasions.
>>
If you are so familiar with everything and the dealers you would know how TACKY it wwould seem to post a thread asking for free flips!
Cameron Kiefer
<< <i>Wanna borrow a pen? I have extra stapler also for your flips but am plumb out of staples. Maybe someone else with throw in the staples. >>
Maybe Greg can out to start out selling on eBay?
That way pens, flips, staples, milk-shakes for the ride to the post office - they are all included in the S/H fees.
Once you sell a few coins there, you'll have money for all of the supplies you need.
My posts viewed
since 8/1/6
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
<< <i>This is not a slam, but if you offer to buy coins on the BST board, you have to offer realistic prices.
What Michael Dixon said. >>
Even if I weren't annoyed, I still would not have been interested. Honestly not intending to condescend, but it would not hurt for you to know your target audience and especially to learn how to reach them.
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
are you sure that you don't want someone to sell them for you too.!!!
I wish you well on your new venture. I have learned much about starting businesses over the past 15 years. I have started 4 and all are still operating today (I only own 2 presently). Here are two simple lessons I've learned.
A. Learn as much about the business you can. I must say this is a tough one for new coin dealers. I've been around the hobby for several years and it appears the rules are known only between dealers and they are unwritten. And getting into the business seems to depend more on who you know, not necessarily what you know.
B. Capitalization is even more important than knowing the business, however the less you know the better capitalized you need to be. To caluculate your capital needs follow these three steps.
1. Write a 3 month operating plan and calculate every expense. That includes inventory, supplies, licenses, fees, taxes, marketing, payroll, etc. If you can imagine the cost, include it. Do not factor any revenue because for all you know it may not exist.
2. Next add 30% to cover what you didn't think of.
3. And finally DOUBLE IT!
I've seen so many people with great ideas, marvelous skills, amazing dedication, and a very marketable product fail within the first year because they just could not imagine how much cash is required to get through the first months of operation. Without the cash you simply cannot compete at the levels required for success.
Bottom line.......if you can't afford the large purchase of flips now, you will likely never be in a position to afford them in the future. That doesn't mean it is impossible, but it will be a huge uphill climb. I'm a sucker for supporting new entrepeneurs so send me an address and I'll send you some flips. Good Luck!
If Greg's targit audiunce was the forum, he'll have to start anuther bussisness modle imo. I would definitiely recommend a spell checker if you put anything in the way of brochures and website.
Again, if $10 for flips is a stretch at this point so will be trying to buy that original set of type coins for $5,000 when they get put in front of you. And a check may not cut it.
I remember placing my first ads in the LSCC's Gobrecht Journal around 1975-1976 when I was around 20-21. I thought I could bring the world to my feet. No such luck. I had some good coins too but barely made up for expenses. The other collectors at that time could find the same buying sources I did. 8 years later I was older and wiser but still dumb. I tried a few Coin World ads in the middle of the paper and I all I got was dumbazz replies. Let's just say it was eye-opening. It takes more than setting up at a show or placing an ad to be successfull. Getting a mentor who is worth their salt is probably the #1 thing.
roadrunner
Some suggestions.
Remember that we as collectors and dealers are asked frequently to donate money, coins, time, etc, to worthwhile charities and fellow chatters here in times of personal crisis. Many of us cringe when we see yet another request for help for our fellow collectors since many of us get bombarded with charities at home, at work, at our place of worship........etc. etc........is there any sanctuary left???????
Just today, my wife tells me that her annual Kiwanis dues went up AGAIN to $100 and that they will NO LONGER accept semi annual payments. Well EXCUSE ME, KIWANIS.....who is doing the giving???? Then THEY want the dues next week when we always paid it the first week of October????
So I am sure some of us, especially me might be a little grumpy!!!
Then you come along with a small innocent request that in my opinion was poorly worded. You would have scored big time if you had said that you needed an advancement of up to 1000 2x2 'suntil your next order of 10,000 at which time you would send back the 1000 plus a small bonus of 500 2x2 for the fellow dealer helping you out. Now you would look like a big guy asking for a co-op trade. Classy!
But better would have been to ask fellow collectors and dealers here to do some co-op buying in with you. Split and order of 10,000 2 ways or even 3 ways. Everyone loves to do that! Everyone is then a winner.
Look into sharing resources with other dealers and buying bulk supples with them. They LOVE it! even collectors love it.
Even share phone minutes with your family!
Best of luck!
no,i don't think so .not today or ever.
it don't make you look so good.hard even to get good info.
that all i after here.info. and lots of it.
feed me with input.more,more,more ,more and more.
i can't get enough info.
john
I mean it when I say that you'll be able to polish your people skills...not killing the third person in the hour that asks, "Will you take fifty cents for the silver dollar?" is a sign that you're on the right track.
*******************************************************************************
<< <i>
I had a job at a shop just like the one you are discribing.... I didn't enjoy it.... I am not looking to make a million dollars, I am looking to start slow and eventually get my own shop.... which I can see happening in the next few years.
I understand what you are saying about the damand on retail coins, however I know what the demand is at the show I am going to and I know where to outsmart the other dealers. I attending the last show they had in August and took notes of what people couldn't find and were looking for and what stuff was readily avalible and not selling. I have cornered the market in all the areas that people did not have occupied. the show is definitly lacking some of the major essentials of a coin show and thats where I am going to hit them.
I can see making between 500-1000 dollars easily at the show.... however I am going to have huge signs that say "SELL YOUR COINS HERE" that way I can pick up some more merchendise at reasonable prices and turn around and sell them....
A quick story.... there was a guy trying to sell 800+ buffalo nickels (most full date) and he wanted I think 20 cents a piece for them and there was not a dealer in the place that would buy them.... now if I can pick up something like that the whole point is made as to what I am trying to do here. I am not looking for a steady coin busisness at first.... I am looking to corner the market in the weak areas and hit the show for a wuick pickup of a grand. Then I have a few more months to get ready for the next one.
The show I am going to be dealing at is very unique because I can take common cheap items and pull a 25% gain on even circ. meterial. I know what I am doing in reguards to this coin show. The demand on the items I am stocking is high and I will have the market locked down.
In reguards to the coin flips.... I was asking for some help from the CU members because thay often like helping new dealers, etc. out. I know I eventually will have to buy the whole big lot of 10000 holders but I was hoping to get some help from the CU board memebrs to hopefully wait until after the first show, seeing as I will have a lot more money after the first show.
I hope this makes sence to all of you now.
Thanks, >>
You are right about this local market, it is very underserved in some areas and this is especially
true at the retail level. This show in particular is very one dimensional and there is great opportunity
to sell a lot of coins to the public.
I, like many here, fear that you'll find sales to be much slower than is needed to keep you going,
especially at first. This show is lightly attended largely because there is such a paucity of material
that people seek. It will take some time for the traffic to build even if you are very successfull.
I certainly wish you the best of luck and will check out your inventory if I can get up there.
<< <i>Wow, I come back from church and this thread is 5 pages long! >>
It's a miracle!!!
*******************************************************************************
<< <i>everone gave him free coins,now he want us to gave him the 2x2.
are you sure that you don't want someone to sell them for you too.!!!/q]
Might I ask what free coins you are referring to....
If you are refering to the contest I have only recieved one donation and the rest have come from my OWN collection. I was trying to do a Nice thing for the boards but some people can't understand that.
-Greg
E-mail GRU Coins
<< <i>Greg
I wish you well on your new venture. I have learned much about starting businesses over the past 15 years. I have started 4 and all are still operating today (I only own 2 presently). Here are two simple lessons I've learned.
A. Learn as much about the business you can. I must say this is a tough one for new coin dealers. I've been around the hobby for several years and it appears the rules are known only between dealers and they are unwritten. And getting into the business seems to depend more on who you know, not necessarily what you know.
B. Capitalization is even more important than knowing the business, however the less you know the better capitalized you need to be. To caluculate your capital needs follow these three steps.
1. Write a 3 month operating plan and calculate every expense. That includes inventory, supplies, licenses, fees, taxes, marketing, payroll, etc. If you can imagine the cost, include it. Do not factor any revenue because for all you know it may not exist.
2. Next add 30% to cover what you didn't think of.
3. And finally DOUBLE IT!
I've seen so many people with great ideas, marvelous skills, amazing dedication, and a very marketable product fail within the first year because they just could not imagine how much cash is required to get through the first months of operation. Without the cash you simply cannot compete at the levels required for success.
Bottom line.......if you can't afford the large purchase of flips now, you will likely never be in a position to afford them in the future. That doesn't mean it is impossible, but it will be a huge uphill climb. I'm a sucker for supporting new entrepeneurs so send me an address and I'll send you some flips. Good Luck! >>
I love that you posted this....
I like the comments and glad that someone understands me.
I have done some good things on the boards, but then there have been some other things that have been construne in a negative way.
I am going to make one final post on this thread and then I am going to never come back to this thread.
Thanks again for the kind words,
-Greg U
E-mail GRU Coins
<< <i>Greg:
Some suggestions.
Remember that we as collectors and dealers are asked frequently to donate money, coins, time, etc, to worthwhile charities and fellow chatters here in times of personal crisis. Many of us cringe when we see yet another request for help for our fellow collectors since many of us get bombarded with charities at home, at work, at our place of worship........etc. etc........is there any sanctuary left???????
Just today, my wife tells me that her annual Kiwanis dues went up AGAIN to $100 and that they will NO LONGER accept semi annual payments. Well EXCUSE ME, KIWANIS.....who is doing the giving???? Then THEY want the dues next week when we always paid it the first week of October????
So I am sure some of us, especially me might be a little grumpy!!!
Then you come along with a small innocent request that in my opinion was poorly worded. You would have scored big time if you had said that you needed an advancement of up to 1000 2x2 'suntil your next order of 10,000 at which time you would send back the 1000 plus a small bonus of 500 2x2 for the fellow dealer helping you out. Now you would look like a big guy asking for a co-op trade. Classy!
But better would have been to ask fellow collectors and dealers here to do some co-op buying in with you. Split and order of 10,000 2 ways or even 3 ways. Everyone loves to do that! Everyone is then a winner.
Look into sharing resources with other dealers and buying bulk supples with them. They LOVE it! even collectors love it.
Even share phone minutes with your family!
Best of luck! >>
I like what you said.... I concur that that might have been the better approach.
Thanks,
-Greg U
E-mail GRU Coins
myself i think you have to go out and try your plan ............... you only learn by doing and seeing what it is like
might as well give it a try and see what happens............... this will teach you much
good luck to you and please let me know how you do at the coin show you set up and sell at!!!
michael
I HAVE LISTENED TO ALL YOUR COMMENTS
-----------------------------------------------------
I understand that my way of wording this was poor and that the idea was not the best to say the least. I was mainly looking for people to *give me a leg up* in having an independent indevor.
Let me explain the 2 X 2 situation for the final time.... The company that I order from (and have ordered from for several years) has a price break at 10,000 flips. On my last order (about 2 months ago) I ordered 10,000 flips. I sold some to fellow collectors, gave many away in items I have sold on CU, RCC, and eBay, and have used the rest. I would say I have maybe 75 flips left and they are sizes that I don't need at this time (but will in the future). I was asking for help from the members so that I would not have to purchase 10,000 of them until after the October show. I just can't see paying double price for them at the local shop. I ADMIT that my wording was poor and that I addressed this problem in the wrong way. Many of the points I am trying to make do not come along well in print as they do by mouth. I appologize for any remarks (or lack there of) that I might have made.
I sincerely love all of the comments that you members have given me.... I have read most or all of them and have tried to respond to as many as possible. I have taken all of the words seriously and will always remember them in my adventure.
Although my bankroll is no where near where it needs to be to become a well-established dealer, my goal is to one day be in a position where it can be.
The final words that I have on this topic.....
We all get started somewhere, I hope you can forgive me for anything I have said that offended anyone. I always have extra tablespace for rent and love going in on sales with other people. If I could go back I would change the wording of my initial post. I do sell good coins at fair prices and I do so by buying cheap.... I post those prices that I pay on the boards for anyone who is interested at selling for those prices to contact me, many people just want to unload their old stuff and will still get a better price from me then they will at there local shop (at least the ones I have sold things to). I take pride in my work and believe that I am a good seller and I was a good worker at my old shop.... between the 2 I feel like I have what it takes to make it in the coin business.
I KNOW THE COIN BIZ. IS HARD but that is what makes it so fun. I enjoy a challenge and love seeing how far I can take the road-less-travelled. I am not thinking I am going to get rich overnight, actually I know that is impossible, however I think (and I know people personally that have) worked hard and made it the same way I am doing things.
I will run some fleas with some buff's, merc's and other low-price (great for kids!) items, We all know that every cent counts in the biz. and I am going to build up my bankroll until I can get that shop. I don't give up easily and will work until I get it, if it takes 2 years fine, if it takes 10 years even better. A dollar at a time adds up until I can finally get that store that I want. I know that I am optimistic but optimistic people are people who often end up happy. I am going into it with the right attitude and am going to maintain that attitude until I get what I want.
One final word.... the reason I left my old coin job was because I wanted to have it for myself. I learned the business from him (40 years in the coin industry) and found out the ways to pick up the cash at the shows. I also attended many conventions, seminars, and shows as a part of the company. Although he was not making a million dollars a year he had a quarter-million dollar house and had enough coins to be in business 20 years after he was dead. The coin industry should just not be limited to the big-boys.... the little guy is still an essential part of making the coin industry what it is. The people who set up the small shows with the State Quarters for the little kids and the Morgans for their parents. Coin Collecting is more popular then ever and many people don't order online, they still like going to the mom-and-pop shops and picking up the coin in their hand. I know that I always love picking the coin out myself then having one shipped to me. Their still is a bennifit to the 1 on 1 interaction that can not be derived from an online corperation. Most of you guys started the same way I am (either at the shows or getting a shop) and it all started with that lincoln cent your dad or uncle gave you.... those are the people I care about the kids who will be protecting the industry of tomorrow. I often gave free things to kids when I worked at my old shop.
QUICK STORY
One of our regulars had their grandson interested in the hobby. One day he asked his grandad for a loupe and he said that he would not pay the $30 for a novice like him to have one. The kid was turned off from the hobby because he wanted to fit in with the other people in the shop.... after he failed to come for 3 or 4 visits I realized that he felt uncomfortable without a loupe. I then placed an order with my distrib. for a loupe (as well as some other items for me) and then told his grandad to bring him into the shop. I gave him that as well as a partial lincoln head cent book..... that kid still to the day I left the shop spends his afterschool life living at the shop. Something as small as a $30 loupe can make all the difference in somebody's life.
Thats why I want to be back in the industry.... to give the 8 year old a free buffalo nickel, and to give away a partial wheat cent whitman set. I like appealing to the kids and the adults and making relationships with collectors that last a lifetime. I could go on all day about things like that but I wont waste any more of your time.
IN CONCLUSION
I have listened to all the things that you have all said to me and will do my best to avoid the problems I made in this thread. I am not upset at any of you, I am thankful. I thank you for the time you put into considering the words I wrote and having the time to give your opinions to me. We all see things a little differently and that is good, what kind of world would we be in without conflict and debate. I will post back here in a few months with a report on how I am doing.
I would appreciate no snide or dirty remarks in responce to this post, I understand all of the opinions you have stated and to continue to hammer them on the boards would be frivolous. Please just remember that I have stated how sorry I am for offending anyone. I hope you can accept me for a dealer and forgive me for the poor wording I used in this article.
If you have any more to say you can feel free to p.m. me with any other thoughts you might have.
Thanks again to all those who replied to this thread.
-Greg Ullstam
E-mail GRU Coins
<< <i> felt like I have just been sitting here and getting bashed.... >>
It's too bad you feel that way. People pay money for some of the free business advice you've received in this thread, all in just one day. Save this thread and a year from now, see how much of this advice was worthwhile.
no harm done no big deal i have no problems with what you originally said on here
i give the benefit of the doubt
and just reread my comments a few posts up from here
michael
Liberty: Parent of Science & Industry
<< <i>$30 for a loupe! You can buy a decent 5x loupe for about $5. I'm beginning to think that coin shop you worked at did more harm than good. >>
I bought him a 7 layer gold plated 10 X trip. this was several years ago and $30 was the asking price at the store..... I paid $17 from the company. They were nice loupes not like the cheapies on eBay.
I know I said that I was not going to post again but I felt I had to explain this a little.
Thanks Again All,
Goodnight.
-Greg U
E-mail GRU Coins
Why do I keep reading this thread!!! Ugh!
.
Because, you are possessed!
Thanksgiving National Battlefield Coin Show is November 29-30, 2024 at the Eisenhower Allstar Sportsplex, Gettysburg, PA. Tables are available. WWW.AmericasCoinShows.com
I'll give you the honor of post #100!
Thanksgiving National Battlefield Coin Show is November 29-30, 2024 at the Eisenhower Allstar Sportsplex, Gettysburg, PA. Tables are available. WWW.AmericasCoinShows.com
<< <i>Where did Cartman go? >>
CoinCop wanted me to get rid of it.
-Greg
E-mail GRU Coins
A guy without a lot of money professes to be a web developer and doesn't even mention getting a decent domain name and building himself a website to sell his wares. Although the return may be in small steps, it could be the forerunner to a brick and mortar business. Instead he begs the assistance of others to get to the top faster. Hmm, my first thought, given that I do know how to develop websites, is that doing so and running a few leaders here and there on eBay and Yahoo auctions to draw additional attention might get me much farther ahead of the game than panhandling in a forum. Okay, so maybe I'm not the brightest bulb in the fixture, but it sounds to me like a web site approach would have been a far cry better than the approach taken. My two cents.
The Lincoln cent store:
http://www.lincolncent.com
My numismatic art work:
http://www.cdaughtrey.com
USAF veteran, 1986-1996 :: support our troops - the American way.
You've invested so much money buying second rate coins that you're convinced are in demand, that a $170 business expense is a lot of money, too much to tie up! What? You've got a Fancy Dan display case that's probably worth more than what's in it.
Now let's see, you state you have plenty of experience in the coin biz, you consider $170 a LOT of money, won't carry more than a couple thousand dollars on you( but can't afford $170 for supplies) and intend to buy from Joe public with checks? You're kidding right? Those checks MUST be worthless if $170 is too much to invest into your coin venture that you've come this far in. The flips won't go bad, you know.
Lastly, you state that if you make between $500 and $1000 you will have done well and have made a nice chunk of change...ALL YOUR WORDS! OK, I approach your table and see a bunch of stuff that I wouldn't even take a second look at and I throw down a PCGS 64 1932-D Washington Quarter...What are you going to do? Do you think I'm accepting a check from a perfect stranger especially looking at what he has to offer? I DON'T THINK SO.
Perhaps you've heard of credit cards? How about small business loans. Creditors would be glad to lend you money these days. Maybe you can buy your flips on credit till after you make your big score of $500. Hey, if you've had a credit card long enough the company that issues it usually sends along convenience checks and you can just write a check for whatever figure you feel brave enough to fill in and pay it back with all your profit. You DO have credit and a credit card, don't you?
I don't know how much you're "all in" for but if you've bought enough cheapies to have cornered that market, brother you're gonna need a gimmick to move all those circulated coins and guess what...Bye-Bye profit. All the knowledgable dealers have come here and genuinely tried to give you something better than flips...SOUND ADVICE from years of experience and every time you cop a defensive mode and rationalize that you know exactly what you're doing! What you NEED to do is just shut your Pie hole and learn to LISTEN. You are a wreck waiting to happen!
It's nice to have a dream, a goal but I assure you, judging by your own words, what you have bought, your market survey and business plan are slightly askew if $500 is a big score! The only shot you have is selling to kids or beginners in the form of grab bags or partial collections. If $500 is your big score, in the year 2004 how do you intend to make it, let alone pay bills and survive on that per month? Web site developing looks a lot more lucrative right about now.
Shops have overhead...but hey, you worked in one for so long that you already know this and have taken it into account, right? The day of the little downtown coin shop is damn near History. Do you realize how much inventory you have to move just to meet the shop's expenses? (Lease, utilities, payroll)
Go to your show....do your thing. While I sincerely wish you all the best, believe me that ONE show will be a portent, a harbinger of what is to come. Now, since you've had enough balls to get in this deep, go ahead and order your flips. One way or another you'll eventually need them. You NEED working capital and if you can't afford supplies, a business expense...A WRITE OFF, what ya gonna do when I come to your table with 2 PCGS Quarters that I'm looking to part with for $10,000?
DON"T SAY ANYTHING, just think about it and since you've come this far, play your hand out, win, lose or draw. I'm sure that over the course of time, one way or another you'll be fortunate to break even. Show us that you're right with a truthful tally sheet when this show is done and the next time you come up here you just MAY have learned to be more receptive to the voices of experience. GOOD LUCK!! Believe it or not, no one has attacked you here.
What you SHOULD do is print this entire thread and keep it for your permanent records and then take all the knowledge and experience offered here and couple it with you web site programming skills and open one hell of an on-line Coin Shop. Finis.....
.
What is the name of your coin business. If people look for you at the show, who do they ask for?