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What do coin dealers do all day ?
jayPem
Posts: 4,082 ✭✭✭✭✭
You know, sort of a slice of life kind of thing....? Who knows, I may join you all one day, and it'd be nice to know what I'm supposed to be doing
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10% selling/buying
80% forum cruising
No Way Out: Stimulus and Money Printing Are the Only Path Left
..and "play" coins
watch these videos in the thread linked below, he details an average day, and sums up his career. might as well learn from the top..
breakfast out, couple hours in the office, , , flip the best coins in the US, , , have clients buy dinner. etc...
link to thread
<< <i>10% research
10% selling/buying
80% forum cruising >>
- Jim
Barrytrot(2),Stupid,Savoyspecial,docq,ecoinquest, halfhunter,snman,Coll3ctor.
wondercoin. Blue594. internetjunky.
keepdachange. Scrapman1077.Ahrensdad, mrmom, mygrandeoso, blu62vette, Clackamas,giorgio11, adriana, cucamongacoin,
``https://ebay.us/m/KxolR5
Tells dozens of delusional customers that their circ. 1950s wheat cents are not rare coins.
Sometimes moans and groans about how nothing interesting ever walks into their shop.
Buys junk silver that walks in, and sells it over the phone to two or three contacts.
Buys two 1881-s Morgans and put them in the case.
Sells two 1881-s Morgans out of the case.
Buys "stuff" and sells some of it.
Occasionally deals with shady people who might not own the coins they're offering.
Sells supplies and "stuff" coins to several customers.
Socializes with the regulars.....
This drudgery goes on for months, and then an uncertified collection of AU-MS bust halves in an album from the 1940s walks through the door, and things get real interesting.
At shows it usually is breakfast at 6:30, at the convention center by 8, work until 5:30 or 6, go out to dinner, have a few drinks, go back to the hotel and collapse. Repeat
<< <i>I don't know. I can't figure it out. I can't even figure it how dealers make a living on selling coins. >>
If you sold everything you got from US Mint 2011 ASE for example you would make a killing
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Lately I've spent too much time hand-holding with nervous nellies. --Jerry >>
Look at the bright side - it makes them dependent on you and your services.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>
<< <i>I don't know. I can't figure it out. I can't even figure it how dealers make a living on selling coins. >>
If you sold everything you got from US Mint 2011 ASE for example you would make a killing
Thanks a lot. That's very good info to know, maybe I will buy 2012 ASE. Thanks again.
<< <i>Tells dozens of delusional customers that their circ. 1950s wheat cents are not rare coins. >>
That sounds about right as it seems at least half my trips to the B&M are stuck waiting for my guy to get finished delivering bad news to someone...
<< <i>Practice surprised looks to use when people come in with a misspelled word on their Peace dollar. >>
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
Of course, being a coin dealer is a bit similar to being a doctor in the way that we are always on call, so I expect at least one call a night (many more before a major auction or show) and talk coins for a couple of hours. I won't say it is that easy to make a living as a coin dealer, but it sure can be fun if you enjoy doing it all day!
<< <i>Your typical brick and mortar dealer...
Tells dozens of delusional customers that their circ. 1950s wheat cents are not rare coins.
Sometimes moans and groans about how nothing interesting ever walks into their shop.
Buys junk silver that walks in, and sells it over the phone to two or three contacts.
Buys two 1881-s Morgans and put them in the case.
Sells two 1881-s Morgans out of the case.
Buys "stuff" and sells some of it.
Occasionally deals with shady people who might not own the coins they're offering.
Sells supplies and "stuff" coins to several customers.
Socializes with the regulars.....
This drudgery goes on for months, and then an uncertified collection of AU-MS bust halves in an album from the 1940s walks through the door, and things get real interesting.
This is so true
EAC 6024
<< <i>
<< <i>Your typical brick and mortar dealer...
Tells dozens of delusional customers that their circ. 1950s wheat cents are not rare coins.
Sometimes moans and groans about how nothing interesting ever walks into their shop.
Buys junk silver that walks in, and sells it over the phone to two or three contacts.
Buys two 1881-s Morgans and put them in the case.
Sells two 1881-s Morgans out of the case.
Buys "stuff" and sells some of it.
Occasionally deals with shady people who might not own the coins they're offering.
Sells supplies and "stuff" coins to several customers.
Socializes with the regulars.....
This drudgery goes on for months, and then an uncertified collection of AU-MS bust halves in an album from the 1940s walks through the door, and things get real interesting.
This is so true
Or a raw set of 1901 Proof Gold, which since it was stored under a bed in 2X2's in a felt bag, looked like a good chew toy for the family dog.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>Well it starts with "hello" and ends with "is this a long story ? " >>
I knew two sides would not disapoint.....
after inventory, shipping, buying and selling my best friend and I do this!
Sounds like work so i will pass. I just sit around and wait for the 1st of the month to roll around and then i find a pen and spend a day or 2 endorsing the back of rent checks. One of these days i am going to invest in a rubber stamp that says for deposit only so i can come up with some more free time.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
After you get the bullets polished, you got to get the 10 trays out of the vault that see all the action before you bring out the 60 trays from the vault that have the same coins in them since the year 2000 so the store looks full. Every few years you got to put the coins in new 2 x 2's when you run out of room from crossing out all the old prices to add the new price
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>watch these videos in the thread linked below, he details an average day, and sums up his career. might as well learn from the top..
breakfast out, couple hours in the office, , , flip the best coins in the US, , , have clients buy dinner. etc...
link to thread >>
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
I'm working on a blog today in response that I'll post a link on here as well. It's a running commentary on my 9-5 (never ending at 5) job I guess...I believe it will be fairly long and not likely grammatically correct, to the dismay of my wife the 1st Grade Teacher and writer...
President of David Lawrence Rare Coins www.davidlawrence.com
email: John@davidlawrence.com
2022 ANA Dealer of the Year, Past Chair of NCBA (formerly ICTA), PNG Treasurer, Instructor at Witter Coin University, former Instructor/YN Chaperone ANA Summer Seminar, Coin World Most Influential, Curator of the D.L. Hansen Collection
9:45 AM - Roll out of bed and get dressed. Reuse mustard stained shirt from yesterday, it's not that bad.
10:15 AM - Arrive 15 minutes late to open shop. Tell customer waiting at door that this is the first time this has happened.
10:20 AM - Ignore customer while retrieving from the safe, case after case of overpriced coins that have been in inventory for 17 years.
11:05 AM - Finally acknowledge customer, but make sure that they know you have better things to do than wait on them.
11:10 AM - Show customer overpriced coins and make sure they understand how stupid they are if they ask any questions.
11:30 AM - Close for 1 hour lunch.
11:35 AM - Acquire additional mustard stains on shirt.
11:50 AM - Arrive back home for lunch hour nap.
1:20 PM - Reopen store after concluding 1 hour lunch break.
1:25 PM - Pick nose since no customers in store, although that's not a hard and fast rule.
1:45 PM - Guy with baggy pants, baseball cap, and Lakers jersey walks in to sell Grandma's collection, which happens to be loose in a bag because that how grandma liked to store her collection.
1:46 PM - Pay guy $200 for grandmas collection.
1:47 PM - Flip grandmas collection for $1500 to large wholesale dealer.
1:48 PM to 2:45 PM - Surf CU.
3:00 PM - Father and son walk in. Yell at kid not to touch anything. Lecture kid about how things were done in the old days.
3:25 PM - Stare at father and kid until they leave. Close store 35 minutes early.
4:00 PM - Hit local bar.
<< <i>Luckily, I was able to obtain this itinerary from my local dealer.
9:45 AM - Roll out of bed and get dressed. Reuse mustard stained shirt from yesterday, it's not that bad.
10:15 AM - Arrive 15 minutes late to open shop. Tell customer waiting at door that this is the first time this has happened.
10:20 AM - Ignore customer while retrieving from the safe, case after case of overpriced coins that have been in inventory for 17 years.
11:05 AM - Finally acknowledge customer, but make sure that they know you have better things to do than wait on them.
11:10 AM - Show customer overpriced coins and make sure they understand how stupid they are if they ask any questions.
11:30 AM - Close for 1 hour lunch.
11:35 AM - Acquire additional mustard stains on shirt.
11:50 AM - Arrive back home for lunch hour nap.
1:20 PM - Reopen store after concluding 1 hour lunch break.
1:25 PM - Pick nose since no customers in store, although that's not a hard and fast rule.
1:45 PM - Guy with baggy pants, baseball cap, and Lakers jersey walks in to sell Grandma's collection, which happens to be loose in a bag because that how grandma liked to store her collection.
1:46 PM - Pay guy $200 for grandmas collection.
1:47 PM - Flip grandmas collection for $1500 to large wholesale dealer.
1:48 PM to 2:45 PM - Surf CU.
3:00 PM - Father and son walk in. Yell at kid not to touch anything. Lecture kid about how things were done in the old days.
3:25 PM - Stare at father and kid until they leave. Close store 35 minutes early.
4:00 PM - Hit local bar. >>
I think I know that dealer.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire