The beggining:How did you started as a coin dealer?..

Hi guys,today's question of the week is for our crew of professional
coin dealers. My question to you you is:
How did you started as a coin dealer?...Tells us
how?,and what it took to do it?. What resources were available at that
time? And most important,what do you recommend to those who want to
become a coin dealer?....
Let's start with me:
My name is Jose Vega. I became a averaged coin dealer in 1999. I started
collecting coins by buying wheat cents,by the bags,and othe world
coins at that time. At that time I realized that this maybe a good
source of extra income earning business,rather than a hobby. I started
selling coins at the yahoo auctions. Then of course,from time to time,at
ebay,and once in awhile at bidville.com. Those were my resources for
selling. I buy coins from reputable dealers at wholesale prices. I
still have a good way to learn about coin dealing,but iam glad that I
found this one,as a means of making some extra cash to supplement my
income. My recommendation to the newbies,is to start cheap for a awhile.
Buy coins that you can afford,and keep it that way until you can
progress enough,for you to buy
more expensive coins. If you sell,take the advice of the guys here,slab
your coins. You can sell coins where do people buy coins. Of course,you
can start with ebay,as your first choice, or other spots,like Yahoo
auctions,Ioffer.com,bidville.com,and other places you may find suitable
for selling coins.
That's my end of your story. Who will be the next brave hombre to tell
his,or her beginning experience as a coin dealer?....stay tuned!...
Thanks guys,
Jose Vega

"Jose Vega" wrote in message
...
Hi guys,today's question of the week is for our crew of professional
coin dealers. My question to you you is:
How did you started as a coin dealer?...
....
Buy coins that you can afford,and keep it that way until you can
progress enough,for you to buy
more expensive coins. If you sell,take the advice of the guys here,slab
your coins. You can sell coins where do people buy coins. Of course,you
can start with ebay,as your first choice, or other spots,like Yahoo
auctions,Ioffer.com,bidville.com,and other places you may find suitable
for selling coins.
That's my end of your story...

Jose, this sounds like a recipe for losing money if one is not careful.
Grading costs and auction fees are high. So, say you buy a coin you think is
an MS 64 for $100 and send it off to be graded economy at PCGS for $18 (plus
registered mail cost, of course). With postage, etc., you will have about
$125 invested in the coin. Suppose it comes back MS 64 and you put it on
eBay. Slabbing has helped, so you get $110 for the coin. Considering the 10%
cost of doing business, you've only lost $26.

Another problem with the scenario -- what if it comes back MS 62 or 63?
You've lost a lot more. The only way to get around this problem is to buy
uncirculated coins for below Greysheet MS 60 -- difficult to do for good
date coins.

Modern coins are very risky, too. If we can buy them, so can other people.
Modern coins are hard sales unless you have things that, for some reason,
really soar (e.g., nickel-medal sets).

I'm not a dealer, but I've sold a few coins. The best way I've found to make
money with coins is to buy them and hold them a few years until the coin
market goes up. Unless someone has a lot of money to buy inventory, small
bits of money gained from selling a few coins is barely worth the effort.
(Or you can follow the ups and downs of the market closely, but then you're
an investor and not really a coin dealer :-)

Anita

What a laugh ... he spews like a moronic spasm
playing a role, but if Jos=E9 is a genuine
chicano, then he's remarkably like another WebTV
scholar plaguing these newsgroups with similar
delusions. Go ahead, run a Google check:

(Jose Vega)

anita,you should not followed up with comment of that nature, This tread
is about how you started as a coin dealer?...nothing more. You got to be
more humble than that. I did not asked you, for your opinion on gradng
coins.
Jose

anita,I buy and sell coins like you do. So,yes,I am a coin dealer,and
yes and an investor too. thank you dear.
Jose

geez,at least I show more class,and
share with others in this news group. You will never find me attacking
people,like some people of your nature do.. a moron will do that..
I like this group very much. I participated in a swap,not long ago,with
larry,and iam very proud of it. I have no complaints,no regrets, We all
need to learn,that includes me too.
Jose

"Jose Vega" wrote in message
...
anita,you should not followed up with comment of that nature, This tread
is about how you started as a coin dealer?...nothing more. You got to be
more humble than that. I did not asked you, for your opinion on gradng
coins.
Jose

Jose, I didn't offer any opinions on grading coins. You must have me
confused with another post.

Anita

Jose Vega wrote:
geez,at least I show more class,and
share with others in this news group. You will never find me attacking
people,like some people of your nature do.. a moron will do that..
I like this group very much. I participated in a swap,not long ago,with
larry,and iam very proud of it. I have no complaints,no regrets, We all
need to learn,that includes me too.
Jose

Ignore the trolls, and remember what we preach here constantly, "The
only dumb question is the one not asked."

I'm not a dealer of any sort, so I can't help you in that respect.

Jerry