What does a "staff numismatist" need to do to become a partner/member at a coin firm (such
Longacre
Posts: 16,717 ✭✭✭
I am in the legal profession, and I understand what it takes to move from an associate to a partner at a big law firm (basically work like crazy, develop new business so that you can almost support yourself, and do good work and give solid advice that people trust). I believe that the larger coin firms, such as ANR, Pinnacle, Legend are either LLCs or closely held corporations. Exactly what does it take to move from an "associate" (i.e., a staff numismatist) to a member/owner of the firm/corporation? In the law firm setting, what keeps the associates working like crazy is the idea (though it may be nonexistant) that someday they will be a partner and reap the benefits of all of their sacrifices and hard work. Does it work the same way in the numismatic world? I would think that no matter how knowledgable you are in coins, there must be something else that you need to bring to the table in order to become an owner (after all, ultimately it is a "business"). Does anyone have any knowledge or thoughts?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
This presumes that the current owners want another partner to share in the decision making and operation of the company. If not, they might prefer to simply pay an employee a salary and/or commission and/or % of profits.
My general feeling is that the more partners/owners, the more difficult/complicated things can be.
Probably true - with the possible exception of adding one more owner to an even number in order to have a tie break vote.
<< <i>My general feeling is that the more partners/owners, the more difficult/complicated things can be. >>
Dang! And I wanted to buy into Mark Feld Rare Coins.
TPN
<< <i>Dang! And I wanted to buy into Mark Feld Rare Coins. >>
Michael, I guess you ignored my earlier comment:
<< <i>This presumes that the current owners want another partner to share in the decision making and operation of the company >>
You presumed far too much!
<< <i>
<< <i>My general feeling is that the more partners/owners, the more difficult/complicated things can be. >>
Dang! And I wanted to buy into Mark Feld Rare Coins.
TPN >>
Two nice guys, who are lawyers, and also coin buffs.
Isn't that an oxymoron?