What happens when the dealer gets tired of looking at coins?
Coinstartled
Posts: 10,135 ✭✭✭✭✭
Collectors can step back, maybe sell off a set and get back in later. Short of exiting the business the dealer does not have that option.
Better than being a proctologist I suppose.
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...or are you asking "tired of looking at coins" altogether?
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Yes, the question is, tired of coins altogether.
I guess as a businessman enjoying the commodities that you sell are a luxury not a necessity. I started out selling thumb tacks steel wool and garbage bags in the early 1980's. None were all that exciting.
sorry, I misunderstood your question.
1.a. Spend 'em
I guess you could of been a "hot tar watcher" with the Federal Highway Administration/Department of Transportation.
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gets out of the business
Sells his coins and puts his money into the next hot collectible ... only to see it tank shortly after he puts all of his funds into it.
I don't think a dealer has that option. He either takes a break or keeps looking. There was a time in my life when I was waiting at the coin show door before it was opened and had to be chassed out by the "dog" long after one way. It was much more "fun" before slabs and I didn't get back strain bending over a case!
I like to think that anyone of us on the professional side of the hobby is blessed to be doing something we love every day.
No job is perfect and can be tedious, at times.
I'd just work through it.
But, whether to get out of the business or not would be a personal decision that only that specific dealer could answer.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I think a know a few dealers who don't REALLY care about the coins in their inventory the way a collector might. "I bought it for X, and I sell it for X+Y, and I buy more of them."
I had one fairly well known dealer ask me when I was selling a handful of Morgans...."What does it mean by 'Reverse of '78?"
I'm sure he had sold literally thousands of Morgan dollars....it just didn't matter to him!
(Not a slam...I'll still buy from him. He doesn't really NEED to know. I'm sure he'd be an excellent mentor for 'how to be a coin dealer'....maybe not so much on the coins themselves.)
What makes you think we only look at coins ? The thoroughfare I'm on in a lake town has plenty of women around in the fair weather months. And when there are festivals on, they multiply by 5X.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
He spends the rest of his days posting on the Internet
Stop using cash, use plastic instead. Last year, I sold over a couple thousand suits on Amazon. And I stop wearing suit at the same time. lol
If it happens I'll let you know.
Coin Rarities Online
Most of them move onto Sports Cards and Stamps,,,,,,,,,,
When I was a dealer, if it was common date modern stuff at inflated prices, very quickly. If it was 19th or 18th century material, I could look at coins all day and never get tired. I always loved the chance to look at coins. The bad stuff was getting in and out of shows with the concern that someone bad was following me home, or aggressive cheepskate buyers who thought that I should be selling properly gtraded coins at 20% less than the Gray Sheet prices.
If your passion is gone, let it go for a while. Maybe move on. It's been my experience that if I'm burnt out on a enjoyable interest, I back away for a while.
Just my opinion if you want it.
Yup, just spend 'em and get rid of 'em
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
He retires.
He switches to CURRENCY of course!
....or changes careers.
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
Well that would assume that he either has reached a suitable retirement age or has an idea about different employment. Maybe having to "work for the man" as Longacre has so eloquently described.
I knew a fellow that made a small fortune selling toy trains....
...he began with a large fortune!
Maybe he goes to work for Heritage and gets involved with selling other collectibles, and uses his coin knowledge for a back door entrance into other areas.
Just get out of the business..... change careers or retire.... Cheers, RickO
Work on my profession nature photography business, go gold mining (VERY tired of at the moment), go kayak fishing,
I always come back to major error coins with great eye appeal.
All those deals with the devil have consequences.
What happens when the dealer gets tired of looking at coins?
I think this is a problem that gets resolved prior to becoming a dealer.
The short answer is suck it up. I hate my job and have for over 20 years but I like the check and the fact I only have to work 4 to 7 days a month if I feel the urge.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
Yup, I didn't buy/sell any coins b/t 1998-2015 , and I didn't know what you guys meant by CAC..
The beauty of having skills outside of this trade is having experience in many others.
``https://ebay.us/m/KxolR5
Nah. Heritage is sort of the Hotel California for old coin dealers.
One of my favorite songs that rings so true for me about living in SoCal ... I can NEVER LEAVE
https://youtube.com/watch?v=ZODoAd7xKyo
I know a few dealers that refer to coins they buy, mark up a little bit and sell as 'product.' They can quickly tell what is 'product' and what is an interesting coin. They are on auto-pilot when it comes to product.
"Seu cabra da peste,
"Sou Mangueira......."
Oblige yourself, and be happy.
In 1990 or 1991 I was tired of coins and sent everything to Heritage for auction. Prior to the auction, I opened my first brick and mortar store in Hawaii and was scrambling to purchase inventory. I did not pull the coins because the auctions were setup and I knew inventory was easy to come by. I sold 95% of everything I had again because I was "tired" of coins, but it is a sickness that I have and cannot control. I need coins! Hello, I'm Mike and I'm a coinaholic!
Just like anyone else, reinvent yourself.
My first job out of high school was working for my uncle, that is Uncle Sam.
The "job skills" I had (Infantryman) did not have a real use in the United States, except maybe gang enforcer or "contract" work, so I had to school up for a different career, landing on nuclear physicist.
Remember Jeff "Skunk' Baxter? Hair down to his waist guitarist with the Doobie Brothers and Steely Dan?
He got into the electronics of how the music "played" through the synthesizers, amps, etc., which led to his neighbor (a Sidewinder Missile engineer) giving him a subscription to Aviation Weekly, and he went to school, and became a missile expert, chairing the Civilian Advisory Board for Ballistic Missile Defense for the Department of Defense.
Ive looked at 250 $20 Liberty's today. I was tired of it. Once I was done grading those out. I picked up a sack of 1000 morgan dollars to go through. Tedious work, but there is enough variety to keep me interested and always busy.
The company accountant has set up in my office to see what I do all day. After about two weeks of this I think he's getting the hint that there's nothing in the company that I don't do and just because I dont have much for direct sales that majority of the sales outfront and online are results of what I do.