Who has the latest issue of Numismatist with the Lee Minshull article? Is that $80 million figure c

Longacre

I read the latest issue of the Numismatist a few days ago, and there was an article about dealer Lee Minshull. I have heard of this dealer, but have never dealt with him personally. I believe the article says that his firm (which I understand to be a one-man shop) has annual revenues of $80 million. Does anyone have the article in front of them? Am I remembering that correctly?

If that is the true figure, then I have been totally misunderstood with the volume that coin dealers do each year. I know that revenues do not mean net income, but for a single dealer to move $80 million of coins each year, that is pretty impressive. Then multiply that by the thousands of certified and licensed professional coin dealers, and the numbers are staggering. Although I have heard of Minshull before, I can only imagine how much in revenues a BIG dealer does in a year, such as a Doug Winter or Legend.

Unknown

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CoinRaritiesOnline

I suspect the $80 million figure is correct for Lee as well.

It would be a mistake, however, to assume that more than a very few dealers in the nation approach or exceed this sales figure.

Coinosaurus

This is a really gross generalization but I will say that the average guy on the national bourse floor is doing several million per year. Also take into account auction representation, consignment sales, and bullion sales, which in my mind are distinct activities from purely buying & selling rare coins.

skeeterhawk

I know in my little "one man operation" I will do between $2.5 to $3 million in an average year and most of that is with well established clients that have been with me for years. This year the number will be higher because of all the new folks chasing bullion.......some of these new clients will eventually turn into numismatic buyers over time.

Lee is a MAJOR mover of material to some of the biggest "coin rooms" in the country. So between that and working with his own personal clients, I think his figure of $80 million is about right.......................

291fifth

<< <i>I know in my little "one man operation" I will do between $2.5 to $3 million in an average year and most of that is with well established clients that have been with me for years. This year the number will be higher because of all the new folks chasing bullion.......some of these new clients will eventually turn into numismatic buyers over time.

Lee is a MAJOR mover of material to some of the biggest "coin rooms" in the country. So between that and working with his own personal clients, I think his figure of $80 million is about right....................... >>



"Coin rooms" is a term I haven't heard before. Can you provide a definition?

Nysoto

I read the article, and was surprised he would announce to the public his sales volume. I was impressed with his 80 days per year of worldwide travel!

Longacre

<< <i>I read the article, and was surprised he would announce to the public his sales volume. I was impressed with his 80 days per year of worldwide travel! >>




Hey, if I had $80 MM of revenues, and netted 20% of that, I would be a man of leisure for 80 days a year, too.