SERIOUS Question..... What is the best way to make $2000 a month in the coin business partime

cary1952

Please, just serious answers. If you are willing to advise me, please leave me a private message. i will send you an email and we could visit. thanks. I appreciate it. Questions i have include investment needed, time required, computer aptitude, advertising and costs of doing business. I wish to do my business via ebay most likely.

Thanks. Cary

ianp

Haha I want in on this too

dthigpen

Are you GregTheGreat's new ID?

endzone

buy low and sell high!

ajia

Buy $3000 a month & sell them on fleaBay

cary1952

REAL Helpful answers......... i figured as much.

dthigpen

<< <i>REAL Helpful answers......... i figured as much. >>



You seem to get very defensive whenever you ask for 'free advice' and it's given. (A search on your past posts will reveal this)

robertpr

Just remember, if you run out of flips and/or staples, you're SCREWED!

roadrunner

If it were easy like a cookbook, every one on this forum would be doing it. Hence, it ain't that simple.

roadrunner

nankraut

You must be joking--right?

LindeDad

$1,000,000 Inventory.
$1,000,000 Capital
100 hour per week.
$1,000 Computer.
If the market is right and you are a good enouph business person.
It is just possible you will be able to accomplish your goal.
BTW thats not part time, thats real time.

Rampage

Cary,

I am not a coin dealer. I am just a coin collector. However, when I am ready to make new coin purchases, they coins I no longer want I sell on eBay and rarely have I lost any money on them. A handful of times maybe did I lose 5 or 10 dollars. Nothing to really complain about. There have been several times where I have more than doubled my investment on coins I bought two years ago. Of course the majority of it goes back into coins for my collection.

I would suggest to you to buy coins you like at reasoable prices. Don't pay full retail cost of the coins, otherwise you will not be making any profits any time soon. I would also suggest you open an eBay store. Listing fees are much cheaper and you can leave them there for a very long time.

I might also suggest that during the holiday seasons, such as the one we are currently in, you can find great deals on eBay. When the holidays are done and over with, put the coins back on eBay and you will do well. By this, I mean you buy certain dates/mm for $50.00 during this time of the year and then between seasons, sell them on eBay for what they normally go for, which may be $100.00 or more.

Rampage.

Rampage

PS, I am no businessman by any means. So, my advice was just what I would do if I was starting out trying to be a dealer. I might try with $500 or $1,000 and see how I did. If I did well, then I would invest more. If I did poorly, I would think a little harder about it.

Smittys

When you find out let me know,
Always looking for a good Part-time Job

AndyBruce

<< <i>When you find out let me know,
Always looking for a good Part-time Job
>>



ditto!

ajia

Cary,

I agree with endzone, buy low sell high. Rampage's reply went into a little more detail, but basically the same....buy low, sell high.

The question you should ask is how do you (we) find people that sell coins below wholesale.

Of course that is getting harder & harder because of online auction sites.
The other problem for quasi-dealers is that some of these people (probably not collectors) go to the local coin shop & sell to them. I think this is were the best deals are.
I think the one that inheritted coin, or got them some other way are glad to get below wholesale money, not knowing what they had.

Are you advertising to buy coins? What are you doing to make these people selling think of you? Where do you sell?
If I was seriously thinking of a part-time bizz in coins I would open shop at the local swap-meet, Saturdays & Sundays at the local college.
I would network with the local collectors, make myself known to folks that might be thinking of selling, & probably most importantly, to me, find out how much I really know about coins (condition & values).

Happy Now? Not rocket science, but are you willing to make the time & effort to make it work?
In my case family is still first.....going out now to see my son play in a Christmas parade, then a band competition....tomorrow he plays in a water-polo tourney!

One last comment....why is this on the BST board? Are you buying, selling or trading something?

poptopsRus

It is not as easy as one would think. The key is getting inventory and getting it at the right price without screwing the seller and still being able to make money off of what you buy. We have an established store and we buy on a daily basis but it wasn't that way when we first opened up. If you are planning on selling on ebay know what all coins are bringing there then you just need to find a way so coins come to you.