4 ms·

If you're comfortable answering, I'd be SUPER interested to know how the income compares to tech!

• nlh 3y ago
  If I may give you a somewhat indirect answer: One of the best things about this business is it returns proportionate to the effort you put in. I know people working with $50k in capital who make $500k a year. I also know people with $1m in capital who make $100k a year. (And I know people with $50k in capital making $50k a year). And at the extreme: I know one high-volume wholesale dealer (who's been doing this for decades) talking about his business. He has about $250k in capital for inventory and he turns his inventory 36 times a year --- $9m in gross sales! And he's a high margin guy -- so I'm guessing he's making $1.5-$2m a year on $250k in rolling inventory. There are a lot of ways to make money in the coin business and one of the most fun parts is learning new and different strategies every day.
  • pillefitz 3y ago
    And then there's the other half that's losing money
    • nlh 3y ago
      LOL true! My internal survivorship bias was showing. You do hear an awful lot from the dealers who have been around for 40+ years but not-so-surprisingly less so from the ones who didn't make it.