Is it ever possible to turn a profit on writing a numismatic book?

Longacre

We all know that dealers turn quite a substantial profit on all coins that they sell, and they are all members of the elite, "highest tax bracket" group.

I was wondering if it is possible to turn a profit on a numismatic book (not just any profit, but a substantial one that is commensurate with the profits that you would have made had you spent the same amount of time dealing coins). For example, I assume that it takes at least 6 months (somewhat full time, I would think), to write a book from scratch. Let's assume that the book is one of those Whitman Redbook type items, that you can buy for about $14.99 retail. Here is where my theory might break down-- I am assuming that approximately 10,000 copies are sold (anyone have any comments on this?). Therefore, the total on the book is $150,000. Although this is not a "cost" number, it seems that it is relatively low, especially since you would have expenses and a large amount of lost opportunity costs (because the time writing could have been spent dealing coins at a quick and painless 15% markup). Does anyone with any inside knowledge have any comments on this? Or am I totally under estimating the profits on writing books and there are other reasons why not too many dealers write?

Lakesammman

Best way is to pre-sell the book then never write it!

BowTieCoins

In speaking to a couple of authors, not if they had to pay them selves min wage for thier time. For this reason they are do much credit for thier efforts.
I have been seeking books on die varieities, mainly Lincoln's. And feel the growth in this area has alot to do with the published information. It would be difficult
to pursue this segment of the hobby without it. Still much more is needed.

Chris

kranky

I think you have to do it as a labor of love, and the recognition that comes from adding to the knowledge base of the hobby. I do hope that authors are appropriately compensated for their time but I strongly suspect it could never approach the equivalent income of working fulltime. Coppercoins' has real-world experience but his was basically self-published and that would be rare as most authors aren't going to create camera-ready pages.

ScarsdaleCoin

the 10,000 print would be outstanding......figure first run 1,000 copies.....depending on sales additional runs printed.... with all the discounting for sales also you should figure a higher SLP $19.95 or $24.95

kranky

Interesting point about cover prices. I don't mind paying a fair price for a well-written book, especially if it's in an area that needs a reference (or a new one). I can't imagine saying I'd pay $20 for that kind of book, but wouldn't pay $30.

If a $10 increase in cover price would make the difference between someone choosing to write a good book and not doing it, then charge the extra $10.

Which reminds me, is anyone ever going to publish the Fugio book that Rob Retz was working on until his untimely death?

DieVarieties

On my book I did everything. All the photos, layout, researching, cross-referencing, pricing, rarity, die marker photos for attribution of the variety, proofing, then sending to the printers, binding, in other words, the whole 9-yards and it was published in the summer of 2003. I paid for everything out of my own pocket. The book is over 500 pages, a little less than the VAM Book. My book was recognized as "One of the must have books for the year 2003" by the Coin Collector's Yearbook which reviews references each calendar year. It cost me with everything figured in, around $25 per book. I sell the book at $34.95 and many collectors tell me that is too high! I am now just about to break even after 2 years.

However, I did the book as a love for our die variety hobby and wanted to contribute something back to our collectors. That was, and is still -- the bottom line for me.

coppercoins

Most numismatic books have a print run of far less than 10,000 copies, especially specialist books that sell to a certain crowd and not the whole of numismatics. The two best-sellers are the Red Book and the Cherrypickers' Guide. The former runs roughly 75,000 copies and the latter around 15,000. Most of the remainder of what you see runs in the neighborhood of 1,000 - 3,000 copies.

Anyone who self-publishes is generally going to lose money on the project once everything is said and done - the printing costs, binding, marketing, boxes, shipping, etc. I don't mind sharing my numbers...

I wrote the book, "Looking Through Lincoln Cents," in about two months, research and all. I had covers printed for 1,500 copies at a cost of $700. I purchased a nice laser printer and toner to run proofs of the book while I worked on it - it was either that or run them at 2 mins per page on an ink jet. The printer, toner, and paper to print the first 75 copies cost $1,120. After seeing that self printing wasn't going to work, I took the proof to a print shop to have it professionally printed.

In an effort to save $1,300 I talked with the designers there and was taught how to "back the book up." At first I had no idea what this meant, but I can share it with you. The smaller bookshelf size books are printed four pages to a side of a sheet, 8 pages front and back per sheet. This is called "4-up." I laid the pages out so that when the sheet was folded twice, the pages would be in order, 1-8. This is called a "section." My book had 38 sections. I saved $1,300 that most people would have spent because they don't have the skill or software to do the job right for a print shop. We can cancel this out with the stupid idea to print the book on my own and the cost of the printer, paper, and toner I used to get 75 copies of the book. BTW, I still use the printer daily - very nice fast laser printer.

I took the book in its final form to the printer, who for $5,400 burned negatives, made plats, and printed 1,500 copies. I once again cut corners and actually collated the 1,500 copies of 38 sections per copy myself - by hand. Took three 8 hour days to do that. It would have cost another $400 to pay their staff to do the same.

After the book and covers were done, the remaining chore was binding. Perfect binding was out of the question - as a collector, I know that other collectors as a whole prefer spiral binding. I could have had plastic comb binding for 50 cents each, or wire comb binding for 80 cents each, but I saw both of these methods as being flimsy and cheap. I went with the same style of binding that most of my other references had, single spiral binding. I found through calling a dozen different places that Staples was the best place to go for the job. I negotiated a price of $1.65 each for 22mm continuous black plastic spiral binding. That set me back $2,475.

I also knew that I would have to have something to ship the books in. I went to a cardboard container company with book in hand, and for $325 had 1,000 fold-over boxes made for shipping my book to people. I also had to have bubble wrap to protect the books, so I bought six rolls of 12x12 perforated sheets at $18 per roll - $108. Combine this with the gas, pens, tape, and other minor supplies required to mail stuff, and we have a total of around $500 spent on supplies to distribute the book.

Postage is negligible since the purchasers always paid the postage.

Total cost into the project (minus the mistake of the printer fiasco):

Covers: $700
Printing: $5,400
Binding: $2,475
Supplies: $500

Total $9,075

Divide that by 1,500 copies (a little more actually, but who's counting) and we have a cost of $6.05 per copy. That sounds nice, until we add up the OTHER costs...

First, there is promotion of the book - I spent roughly $2,000 on the phone talking to publishers, distributors, customers, etc. about the book to sell it to them.
Then there is travel to push the book - I spent over $3,500 to go to coin shows to sell to distributors, supplies sellers, dealers, and collectors. I believe my total cost here was around $4,390 if I remember the numbers correctly.
Then there are the freebie copies I gave away to dealers, distributors, magazine publishers, etc. just to get the word out. Around 50 in all. This simply negates the overage that was printed...so we're down to 1,500 again to sell.

So now we're in the book for $15,465, or $10.31 per book.

Now came the problem with figuring the price I'd sell it for. I had already decided that since I was an "unknown" that $20 would probably be a number I'd regret, so I decided on $18 just to be safe. $17.95 became the cover price. Still sounds profitable, huh?

Until you realize that distributors require 60% off of cover price to touch even a good book, and dealers expect 40% off. Well, that works out to $7.18 distributor pricing (including shipping) and $10.77 wholesale (including shipping). I sold 768 books at distributor price, and 204 books at wholesale price. This adds up to a grand total of $2,310.84 lost to selling for less than my cost (distributor) - this includes the $93 profit made from selling at wholesale for barely above my cost. Then you take off the shipping for these, and it makes the overall loss $2,718.60.

So...171 other books sold in pre-sale for $15.00 postpaid. Since the box, packing, and postage cost me $2.34 per book, and the books cost $10.31, I was out $12.65 to make $15.00 171 times. That's a $401.85 profit. Take that from the loss column for a grand total so far of $2,316.75 in the red.

That left 357 books to sell at retail, which they did. Each case of $12.65 sold for $21.95 (including shipping in both instances), so I made $9.30 roughly 330 times...I discount 27 books here due to damage, incorrect binding, etc. A grand total here of $3,069 profit. Subtract the $2,316.75 from that and we end up with a grand total profit throughout the course of the ten months it took to sell the book completely out, and we have $752 and change profit. That's a whopping $75 per month.

Remember, however, that I am discounting a printer, paper, toner, and software that cost a grand total of $3,250 because it was probably not necessary, but how was I supposed to know?

Now...some might say the cover price was too low. Probably true. how was I supposed to know?

Why did I do all of this knowing I was going to be at a loss financially? Simple. I now have a publisher, I am in the NLG, I have people come to me and tell me they enjoyed the book (very valuable to me), and the "experts" in the business take me seriously now. Would I do it again? You betcha! Would I have done it differently if I knew? You betcha!

I hope this helps someone.

Longacre

Copper--

Thanks for the great reply!! I totally ate that response up. I appreciate the time you took to post it.

DieVarieties

As far as doing a book to have a publisher, or be a member of the NLG, or to have "experts" in the field take me seriously was not why I did my book. It was borne out of love for our die variety hobby and wanting to contribute back to that hobby. I knew it would not be a money making venture going in. I'm not a member of the NLG and I don't need the accolades. If I have helped one collector out there -- then that was the profit I was looking for.

joefro

Me too CD, great post! That's awesome that you didn't lose money and were still able to spread that knowledge throughout the Numismatic community. Now that you have connections and more knowledge... are you planning on the process being more financially efficient with the new book? Think it will be about the same? A whole other ballgame altogether because of the format? Just wondering if you plan on things being any "easier" this time around.

joefro

<< <i>As far as doing a book to have a publisher, or be a member of the NLG, or to have "experts" in the field take me seriously was not why I did my book. It was borne out of love for our die variety hobby and wanting to contribute back to that hobby. I knew it would not be a money making venture going in. I'm not a member of the NLG and I don't need the accolades. If I have helped one collector out there -- then that was the profit I was looking for. >>



Surely all of the things would have come in handy if you ever planned on writing another book though, right?

coppercoins

<< <i>It was borne out of love for our die variety hobby and wanting to contribute back to that hobby. >>



In many walks of life, this one included, a person has to have some credential to be taken seriously, regardless of their intent in contributing to the hobby. In order to be heard, you have to yell loudly and yell often in this market. The way I see it is that the only way to survive and succeed you have to attend all the major shows, get to know the people who can help you, write a lot and submit that writing to the magazines, be known by others with whatever means you have available. That's what I try to do, and being in the ANA, NLG, SLCC, and other clubs definitely helps.

Obviously I don't make a dime responding to people here, nor do I make anything answering the dozens of emails per week I receive. I also have never required a fee to use the thousands of photographs I have published for all to use on the web. In fact, I make very little money, period. I have no health insurance, I have no retirement benefits, and I don't draw pay from any disbility or otherwise. I am in this for the love and passion of the hobby as well. Having the "accolades" of being an NLG member is only an added benefit, even though there is very little benefit in that - I thought that was rather clear in my statement.

You know as well as I do that the primary listing systems used by many collectors have a number of flaws, politics being one of their major drawbacks. Lack of publication is another, and probably the most important one. People have been led around by the collar for years by "clubs" that supposedly provide some benefit in membership. We both can see through that facade. We are in the same boat here.

Losing a couple thousand dollars and spending nearly a year full time to do so really set me back, especially without any job or income otherwise. I can remember a number of times eating dinner at a show on the money I took in that day from book sales. I'm not looking for a shoulder to cry on, I had fun doing it, but it was a real challenge. Being in the NLG is something I have strived for since I was a little kid. What's so wrong with it?

I'll try to make it as clear as possible...99% of what I do is free to others and costs me money. I do all that for the love of the hobby and the desire to be of help to others who like what I like - collecting coins in a very challenging way - by specific die. If you started in the early 80s like I did, you will know there was very little help out there from anyone, and there was nothing of any benefit at all on the internet until I started coppercoins. The CONECA master listing publication came three years after I started coppercoins and still has no photos and very sparse marker information. Nobody else to date has anything of any useful merit on the internet for doubled dies and mintmark varieties that I'm aware of. I'm not pulling my own chain here - I'm simply saying that I'm doing something that nobody else has, and I'm doing it for friendship, comradare, and to help the community. The money, although desparately needed, comes second.

I'll stop rambling. I thought about not posting this at all because it goes off-subject, but it took time to type it, so someone may benefit from it. I'm not trying to start anything, nor am I shooting you for anything you said. I just think taking a little credit for doing hard work is harmless and rewarding, and shouldn't be frowned upon.

coppercoins

<< <i>

<< <i>As far as doing a book to have a publisher, or be a member of the NLG, or to have "experts" in the field take me seriously was not why I did my book. It was borne out of love for our die variety hobby and wanting to contribute back to that hobby. I knew it would not be a money making venture going in. I'm not a member of the NLG and I don't need the accolades. If I have helped one collector out there -- then that was the profit I was looking for. >>



Surely all of the things would have come in handy if you ever planned on writing another book though, right? >>



Actually I am currently publishing a complete die reference on the Lincoln cent that is in a format that nobody else has done to date - it's completely loose-leaf and comes out in sections. I am also working on a second title for a published book about digital photography of coins. And yes, I plan to see that to completion, and since I now have a publisher to handle all the logistic details (mainly because I was so vocal and hard working in getting my first book out there), all I have to do is write the book and they will take care of the rest - and I do make money on that.

If all numismatic book writing was a loss, there wouldn't be very many numismatic books. First time (and many second time) authors take a hit because you have to become "known" to be respected for your work. Read my previous post for more thoughts on that.

DieVarieties

"I just think taking a little credit for doing hard work is harmless and rewarding, and shouldn't be frowned upon."

Where did I say anything like that in my post? Where did I frown upon your rewards. I only gave my perspective which was in answer to the starting of this post. I didn't say being a member of the NLG is not desirable, or is wrong, or to be misconstrued to be frowned upon. I only said I wasn't a member and that was not my desires for publishing my particular book.

I have always tried to help fellow collectors. I provided my own photos to you for your book that you told me you needed to have in your book. I have done numerous articles in Numismatic News about you, Bob Piazza and about the Coppercoins.com Web site in the hopes of helping further promote an awareness of your site for collectors who may not know it is available on the internet.

Why you say that to me? -- I don't understand. Certainly you can take all the credit you want. I was only just sharing my experiences with my book with the forum in response to the original post.

Michigan

I have heard that many of the hobby books published by Krause/F&M pub. did not make money
but Chet Krause wanted the information out there in book form anyway.

Since Krause/F&M has been now been sold twice and has new management I suspect those
days are long gone.

I know of one numismatic book turned into Krause 5 years ago that has never been published.
My suspicions are the new ownership axed the book. A shame since the guy put many years
of effort into writing it.

I would like to see someone else publish it but I'm not sure if Krause/F&M still owns the legal
rights to it or not.

kranky

Fascinating thread! I wish Charles, Billy and other numismatic authors would be able to benefit more from their work though. That would make it no less of a labor of love.

I've bought books that I really didn't think I'd enjoy (none of them written by board members) because I wanted to support the numismatic book market... and in every case, I ended up liking the book.

I know some people think book prices are too high, but I have to shake my head when I hear that comment from people who spend about 1% of their annual coin money on books. The average collector ought to be clamoring for more and better researched books to come out - chances are the books will increase the value of some of their coins!

Already have a book and don't want to buy a newer version? Buy it and donate your older edition to your local library, and take a tax deduction for the value. That will ease your pain and support the authors. And maybe a new collector you've never met will benefit from your old book being available in the library.

coppercoins

Sorry, taken wrong, I guess. Sounded like you said, "well you did it for this and this, but I did it for the love of the hobby"....as if I didn't.

Being in the NLG isn't a matter of accolades, it's a matter of honor for me. A group of talented writers decided that my writing was good enough to make me a part of the group - that's something I take as an honor and a responsibility to maintain - not as an accolade. Not just anybody can join and be accepted, like the ANA or CONECA.

I also didn't do a book to have a publisher. Actually having a publisher was the farthest thing from my mind when he came up and sat across from me at the ANA author's table. I figured he was a collector who bought the book and wanted to talk with me. I hadn't really even thought of pursuing having a publisher at all...they approached me.

As far as the "experts" in the business taking me seriously - ANACS now recognizes my system. High end collectors are offering help with rare and valuable coins for photography so I can help spread the word farther. Dealers are helping me with prices realized, etc. None of this would have come about if I hadn't published a book - this I believe whole heartedly. Sometimes in order to advance a cause for the betterment of the hobby you have to force some people to listen. I did it by publishing a book on my own.

The most important part of this whole experience, however, is something we both agree upon. We've helped other collectors understand what to look for, what is valuable and what's not, and have given them information that may never exist in print had we not done it. That's the most valuable reward of all.

I may have misstated myself and misunderstood your post - and you may have misunderstood mine...but we're in the same ballpark. We do this because we like it - not for fame, status, or money.

BillJones

Yes, at one time or another I could have sold books out of my numismatic library for more than I paid for them. I don't track the book market so I may have lost of my chance, but here are a few:

Sheldon's Large cent book, original printing by Random House? I paid $10 for it new circa 1965. Could have sold it for $60 -$70 at one time

Akers auction survey of U.S. gold coins - The $20 volume of this set sold for $80 at one point before they reprinted it. I paid $100 for all 5 books.

Breen's book on U.S. proof coins - did not sell well when it was first issued. I paid $12.50 for that an reprint of Adam's book on territorial gold. I could have sold that for $80 or so.

Bower's two volume hard cover set on silver dollars. I paid $125. I sold a soft cover edition for $425. I think I could still make money on that one.

Yes, you can make money on a small number of numismatic books, but the place you REALLY make money is by reading them and having a leg up on the other guy.

coppercoins

One final thought before I go off to work on other things - Kranky can't be more correct in what he said. I support the writers out there as much as I can, even though I don't have the money. I spent $175 on books over the past three months, and currently have over 100 books in my library - aside from nearly 700 periodicals and over 150 auction catalogs. I have bought out of print books and new books, and have enjoyed having them all. I'm not a big reader, but I do like having the references available.

Longacre

This is a great discussion. I agree with Kranky as well. I buy a lot of out of print books, but I don't think any of my money goes to the original writer. I just hope that they made their profit (or cut their loss) when they sold the book to the reseller.

DieVarieties

"Sounded like you said, "well you did it for this and this, but I did it for the love of the hobby"....as if I didn't."

That's you taking things out of context. I was providing only my perspective to the post. You read into things that are not there.

"Being in the NLG isn't a matter of accolades, it's a matter of honor for me. A group of talented writers decided that my writing was good enough to make me a part of the group - that's something I take as an honor and a responsibility to maintain - not as an accolade. Not just anybody can join and be accepted, like the ANA or CONECA."

I'm sure it is an honor to be in the NLG. I don't know what the requirements are to become a member of the NLG. Since as you say, "Not just anybody can join and be accepted, like the ANA or CONECA." then I guess I would probably fall under the not just anybody can join and be accepted group category. But -- that's fine with me. More power to you.

"As far as the "experts" in the business taking me seriously - ANACS now recognizes my system."

Congratulations on ANACS recognizing your system. However, I always thought of you as one of the "experts" in the field long before you published a book or become a member of the NLG, or that ANACS recognizes your system. More power to you. ANACS has long recognized my "C" numbers on their holder labels as well.

"Sorry, taken wrong, I guess."

Your sorry is accepted, I guess.

coppercoins

Regarding the criteria for acceptance into the NLG, I would think that since you published a book and have written numerous articles you would be a shoe-in. In fact, I thought you were already in. Application fee is $15, dues are $25 annually...I think. Somebody correct me if I'm wrong here.

I appreciate the "expert" statement in your last paragraph; I always had the same opinion of your work and respect it greatly. I wouldn't have crossed to it on coppercoins if I thought it was anything less.

As I said before, I took your statement incorrectly. We've been there before and it's unfortunately probably not the last time either. Over all I think we get along fine. **shakes hand**

joefro

Not to often you can see a misunderstanding be cleared up so maturely on these boards. I'm used to seeing flames and insults fly and that is the LAST thing I would want to see in this situation. You are both professionals it seems, both here and in life.

Longacre

A lot of classy discussion here. This is great!

Shamika

coppercoins,

Thank you for your reply even though it was VERY sobering.

And from all us collectors - THANK YOU for writing your book!

MrHalfDime

I find this thread to be very interesting, and particularly credible considering the number of actual authors of numismatic books who have participated. I can only respond from the sidelines, as a mere contributor to the Bust Half Dime book (Logan & McCloskey), and as the author of a pending labor of love on a comprehensive volume on the Liberty Seated half dimes.

Several years ago, my good friend Jules Reiver offered the following observation on this very same subject, in which he declared that he "...never wrote a numismatic book for which he did not lose $7000". He indicated to me that for each and every literary adventure that he pursued, he lost $7000, as if that figure were some sort of publishing rule. Obviously, he wrote and contributed to the furtherance of numismatic knowledge purely to share that knowledge, and not for some misguided ideas about potential profits. No numismatic reference (with the possible exception of the veritable Red Book) will ever make the New York Times Best Sellers list, and any aspiring author had better be willing to plant substantial seed money in order to see his dream a reality. The publishing world, perhaps cynically, refers to this as the "vanity press", wherein aspiring authors must be willing to completely fund their literary adventures. Perhaps prolific authors with the name recognition and credibility of Q. David Bowers might publish in our narrow hobby for profit, but others must acknowledge the limited audience appeal of any numismatic reference, and decide to publish purely for the betterment of the hobby.

Trime

This was a terrific discussion on the realities of authoring and publishing a technical book.
Most of the time authors write because they feel they have something meaningful to contribute.
A financial reward is usually only a secondary dream.
In general:
The more technical a book the smaller the readership and thus the lower the return.
Occassionally authors will self publish a really fine work and try to sell it at a relatively high cost to recoup expenses. It then doesn't sell well and is rapidly forgotten by most.

To make a living as a technical writer you need either to have a sponsor ( i.e. PCGS buys 10000 copies and distributes free to their favorite customers), a very famous name in the field or a topic that is of very broad interest. Some writers of specialized nature have a secondary motive and the book serves as a lost leader providing public relations for your business of selling something (coins).

Writing books entitled: "How to make 10 million dollars as a coin collector"; "How to beat the coin dealer and get rich in the process" ; " Secrets of the coin trade; guide to becoming rich" may sell better if actively promoted but contribute less.

goose3

<< <i>Best way is to pre-sell the book then never write it! >>




no lie there at over 30.00 a book!

michael

Is it ever possible to turn a profit on writing a numismatic book?

maybe but i have yet to see it done

mgoodm3

Interesting stuff CD. Lots of hidden costs in publishing.

shirohniichan

This is a great thread. I have been considering publishing two books and quite diverse topics, and now I see how much of a sacrifice it will take.

I think I will work on the shorter one first and see how it goes.

kranky

I just thought this was one of the really great threads that deserves another trip to the top.

Newcomp103

I have had several dealers tell me that not only writing or publishing a numismatic book, but just finding a way to contribute to one opens up many possibilities in the market.

rgCoinGuy

Great and informative thread, thanks for bringing it back.

johnsim03

What a great thread, guys - thanks for sharing.

Another method for low-cost self-publishing is Publish on Demand, or POD. Books are printed only
to fulfill orders (wholesale or retail). They can be basically any physical format that you could dream up (within reason).

I have written many books (chess books), and all are plugging along. Some have sold a substantial number
of copies, and some have not.

Assuming less than 500 pages, color covers, an unlimited number of photographs/illustrations in black and white or grayscale,
I can produce a book to industry standards for nearly no up-front cost at all. None, that is, except for ISBN numbers,
which I personally do not use. No cost, whatsoever, up-front. And, no fulfillment cost, either. The company I use
takes care of handling customer's orders. It costs me nothing but $60 per year for a store front. I set the price of the
book. The difference from the production price (cost to produce the book) and the cover price (which I set) is my royalty.
I pay absolutely nothing up front - it is pay as you go.

If anyone is interested in my "secret," just shoot me a PM and I will point you in the right direction...

John

Coinosaurus

You don't write for the money, you write because you have to write.

For anything requiring archival research things get expensive quickly as you usually have to travel.

Photography is a big expense as well, and institutions charge beaucoup bucks to use images from their collections (the ANS is at $140 per coin, which is in range with other institutions).

You also have buy a lot of research material - usually books - for background information. More expense. If you have a big library to begin with that helps.

The only way to make it pay off is very high volume - clearly the Redbook is a lucrative franchise, but after that it thins out in a hurry.

ModernDollarNut

Great thread!

Any thoughts if self-publishing by DVD could help an aspiring numismatic author get started, perhaps gain enough recognition to land a publisher? Rob

mgoodm3

I didn't write my book to make money. I would have published it online as a PDF if it wasn't picked up by a publisher. Any money I get out of the project is a bonus. I just like to have a project to do. It took me probably 6 months to write the book and to take all of the pictures. At least i didn't have to contract out the pictures . Then there is all of the equipment that I bought to get the book finished. That is the best part for me - having an excuse to buy more toys.

Hell, if one book wasn't enough, I have a second project (you may be able to figure out the project by looking at my picture posts of late) in the works that requires me to buy even more camera toys. I haven't passed the idea by my publisher yet, but hopefully when they are basking in the glow of good sales for the first one, I can spring a second project on them. There's very little chance of even breaking even on this one.

Edit: The way I found a publisher was to write the book first and then instead of just pitching an idea to a publisher, I just sent them a PDF copy of the book. They will be a lot more willing to publish something if they know what it will look like before signing on.

firstmint

My book "Henry Voigt and Others, Involved with America's Early Coinage" was written to correct previous mis-information; and to provide a comprehensive examination of what really happened at the first US Mint up to 1815.

I have just finished a decade long research project into the 1827/3/2 Bust Quarters; and have written a 30 page chapter on these intriquing pieces which will be included in Steve Tompkins' new book on the Early US Quarters, due out later this year.

This new book about the early quarters will be over 450 pages in length. Compared to what has been available for the past 150 years, it will be enormus in scope and depth.

Other authors, whether they write an article, a monograph, or a book, have the personal need to share information to others. They get satisfaction, not from profit in selling their works, but from knowing the numismatic community will have the knowledge they have uncovered.

Today's numismatic research has come a long way towards being credible after the detours taken by other writers in the past 50 years.

I urge everyone to go beyond the "question and learning" stage, and write something about your field of interest. There are numerous places to get an article published. Some of the specialty club journals (C-4 Newsletter, Penny-Wise, John Reich Journal, Gobrecht Journal, MCA Advisory, etc.) are a wonderful venue for both writers and collectors.

These need all the support we can give. As an example, my revealing article about the Libertas Americana medals and Joseph Wright will be appearing in the next MCA Advisory.

As for the author "turning a profit", unless there is a commission involved, such as QDB writing and finishing his 2002 California Gold Rush History tome (reportedly at $1 mil expense), perhaps the author will live long enough to have his research, production, distribution, and advertising costs actually break even.

PS - for those who complain about the Bowers Gold Rush book being too big and heavy; and don't want to spend nearly $200 dollars for it (initial retail price was $199) please consider the fact that you even have the opportunity to own such a wonderful volume to that important time in American history.

Longacre

Hey, thanks for bumping a Longacre Classic(TM) thread! The Man (a new Man) is working me like a dog already and I have not had a lot of time to post.

tradedollarnut

Writing it? Sure. Being the publisher on the other hand might not be so great ...

Mowgli

Several informative experiences here that indicate that a coin book author is not going to make any serious money writing and publishing a book. However, it seems that certain authors have benefitted financially from writing coin books because they became the dealer to go to. I do not know, but suspect, that Rick Snow's book on Indian Cents brought him a lot of business as did the Barber books for David Lawrence, Peter's and Mohon's nickel book, Larry Brigg's seated quarter book, Cline's book on SLQs and so on.

They might not be the tombs of a David Bowers but I would guess that they made significantly more money by writing the books than if they hadn't.

firstmint

It's tomes, not tombs - unless you are suggesting that you can get buried in QDB's books.

charley

I could make a logical case for the use of either word.Respectfully, John Curlis

Dentuck

charley

That is true and I suspect it would be borne of experience. Respectfully and Without Malice, John Curlis

johnsim03

<< <i>Great thread!

Any thoughts if self-publishing by DVD could help an aspiring numismatic author get started, perhaps gain enough recognition to land a publisher? Rob >>



Why not? You could test the waters on eBay. Or on the BST here.

I have had very little luck with electronic publishing. Others swear by it. You have some piracy issues (any PDF file, for example, can be hacked
and copied) but it would definitely be a low-cost to start up.

Critical to going this way is to have several friends review to make corrections and suggestions, etc., before you publish it.

John

LeeG

After reading this, not sure a "coffee-table" rag on the Classic Commems is doable.

ModernDollarNut

JohnSim, thanks!

Interesting to contemplate... Rob

Julio

Longacre, thank you for starting this thread. The trials and tribulations that authors endure is something only they can appreciate or dread. IMO, they are, "my hereos". They pour their heart and soul, not to mention time, into a endeavor that has no guarantee of success. They can often be riduculed and rarely acclaimed. That takes guts most will never comprehend. Take Cre, jws