What books does one need to help themselves become a better seller of coins?

coinguy89

My mom said she would like to buy me a few coin related books for my birthday. I was thinking if they're were books that would help me in buying nice coins cheap and selling them for a profit. You know stuff that gives you tips on what's hot, what sells, cherry picking, stuff on toning(AT or NT), slabed coins, grading standards, RPM, varieties, and other assorted things. Regardless of series or whether or not im interested in that type of coin. Any suggestions are greatly appreciated. Thanks.

P.S if your going to say acquire all the books I have on what im collecting, I have all of them but one. The one I don't have im saving up for right now with stuff i've sold on Ebay.

kieferscoins

The only book about coin dealing was written by Bowers back in the 80's and was so vague and outdated it is worthless.

Cameron Kiefer

MICHAELDIXON

Nothing will prepare you like trial and error. If there were books that made it easy, there would be more coin dealers.

grip

Hands on is the best experiance (I think) you can get,kinda like OJT.

Forgot to mention...It's like surgery,you can read all the books there are, and have all the knowledge,you still have to get your feet wet
with the first patient(G-Pig).

relayer

Trump and the Art of the Deal ?

RYK

I am not a seasoned seller, but my opinion is that it takes knowledge of the coins that you are buying and experience selling to be a good seller. If all you had to do was read a book, everyone would be making millions selling coins, right?

coinguy89

<< <i>I am not a seasoned seller, but my opinion is that it takes knowledge of the coins that you are buying and experience selling to be a good seller. If all you had to do was read a book, everyone would be making millions selling coins, right? >>



Good point. I was just thinking maybe I could use a book on cherrypicking so if I saw something I would know to get it.

pursuitofliberty

I agree with MD and Grip ... experience is everything ... time, patience and a wallet ready to pay with when you know it's a good deal ... and when selling, knowledge and experience is everything again ... people who rush to sell or don't know what they have rarely do well ....

Now, all that said ... books are a great way to learn some things. For example ... the Cherrypickers' Guide is a great tool if you collect/buy coins that it covers. I once picked up a Flying Eagle cent that had a cool reverse die clash. Niether I nor the seller (a reputable dealer) knew at the time that I had just purchased a S-8 (Clashed with a Seated Liberty 25c). I actually owned the coin for a couple of years (I still own it) before I happened across a picture of it in the Cherrypickers' guide.

MORGANHUNTER2

buy Donald Trump's book- The art of the Deal. Selling is an art- know how to Master the sale, and you can sell ice to an eskimo. Know what the coin is that your selling, and evrything else will come to you. Read what some of the clown seelers do to hype their sale- but try not to be like them, be yourself, be honest and it will pay off.

orie

One Up On Wall Street by Peter Lynch. This book is good for what ever markets your in. A very easy read. You can get a used one on Amazon for around $7.00.

dpoole

Buy coins first. Be a customer. Watch what sellers do--good and bad.

Nysoto

Sincerity is the secret to success in sales, once you can fake that you got it made.

morgannut2

Sorry, the secret to being a better seller of coins is being a picky, smart buyer with good contacts. A nice coin sells itself, all you do by opening your mouth is screw up an easy sale with a quality coin at a good price. Do you really believe that Donald Trump's secret is salesmanship, or location location location?

nankraut

My first recommendation would be the Bible. Concentrate on the Ten Commandments and the Golden Rule. Afterwards, when you find yourself discouraged and flat-broke, read the book of Lamentations and look for a new line of work.

DHeath

I'm surprised no one mentioned Scott Travers. Do a web search for his titles. He's written quite a few books aimed at the collector. The one you'll find most interesting is this one.

mgoodm3

I've learned more about cherrypicking around here than anywhere else.

coinguy89

<< <i>I'm surprised no one mentioned Scott Travers. Do a web search for his titles. He's written quite a few books aimed at the collector. The one you'll find most interesting is this one. >>



I actually own that book. But I personally don't like his methods. Im especially not a fan of the crack out game.

kieferscoins

<< <i>Im especially not a fan of the crack out game. >>



Then you will lose some good deals and upgrades.

Cameron Kiefer

coinguy89

<< <i>

<< <i>Im especially not a fan of the crack out game. >>



Then you will lose some good deals and upgrades.

Cameron Kiefer >>



But isn't it extremely risky?

kieferscoins

Maybe for some people but if you know what you are doing, and how to grade there isn't "extreme" risk.

Cameron Kiefer

coinguy89

<< <i>Maybe for some people but if you know what you are doing, and how to grade there isn't "extreme" risk.

Cameron Kiefer >>



I guess im going to have to study that quite a bit and slowly work my way into it.

ldhair

Just learn to grade and be nice to folks.

The rest comes easy.

BowTieCoins

Books about business, accounting, marketing, how to deal with customers & vendors would hurt!

Books on how to put together a business plan.

Experiance you will get by trial & error.

Take your time, no need to rush.

Honesty is the best policy, I don't think you will have a problem with that.

Expect mistakes, we all make them, have a good idea of how you should handle them.

And no doubt your on the right track by looking to educate yourself.

Good Luck!
Katrina

JrGMan2004

<< <i>Nothing will prepare you like trial and error. If there were books that made it easy, there would be more coin dealers. >>

That's how I've learned... my first EBay auction was a partial Memorial Lincoln set in an Album to Cameron... And a few weeks later, Cameron helped me out by selling a group of coins for me, that I sold on EBay... I was lucky enough to make a profit on that lot, and owe Cameron a ton for all the help and advice he's given me! But, like Mike has said, Trial and Error is the best way! Right now, I'm in the whole trial and error part of inventory for my web site... But, I'm learning, even when I make a loss

coinguy89

WOW, George! I didn't know you had your own website to sell on. That's what i've been wanting to do! Nice job man, I wish you the best of luck. Yeah, I too am in the trial and error stage.

DaveG

In general, knowledge is the only edge you can have (well, along with capital).

For example, you can become the best in the world at knowing how PCGS grades, then you can pick up coins that are more likely than not to upgrade.

Or, you can memorize the Cherrypicker's Guide and go through tons of coins to find the ones that you can sell for premiums.

Or, you can become an expert in a particular series and know more than anyone else about how rare or common a particular date is and then you buy all of the rare dates and wait for everyone else to notice how rare they are.

Or, you can invent your own niche, like the toned coin guys did only a few years ago, or like Cammie has with sample slabs.

Or, if you have a lot of capital and know where to go to sell coins, you can go to dealers all over and buy coins that they can't sell themselves - you buy 'em and sell 'em cheap - you don't make much on each coin, buy you do a lot of volume.

See how easy it is?

nwcs

I don't think any book will help you. It takes practice, taking your lumps, and knowing how to negotiate. And that leads you back to practice and taking your lumps. And when you get to the point where your knowledge and skill is decent and you don't let the other guy intimidate you, you're in great shape. Take me for example. A year ago I had a hard time negotiating and not wanting to say no. I ended up selling coins for less than I should. Today, though, I was trying to sell some gold and I wasn't going to sell until I got the price I was looking for. Took me a little bit with more than one dealer but I got the price I wanted and sold it all.

majorbigtime

Subscribe to Grey Sheet, it seems to be the "Bible" of sellers. You can tinker with a premimum or discount as you wish.

robertpr

The Travers book has some good info in it but it is mostly aimed at people who want to strike it rich at the crack-out game. You'd be lucky to break even doing this, IMHO.