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Thanks for the details! If you’re ok sharing, what’s a sane startup cost in your mind as to be competitive in the numismatic-competent approach you describe, b
by dogman144 3y ago
Thanks for the details!
If you’re ok sharing, what’s a sane startup cost in your mind as to be competitive in the numismatic-competent approach you describe, but still small time ($10-20k/yr profit) - an initial $5-10k, $10-30k, $40k+?
- nlh 3y agoI think a 1:2 capital:revenue ratio is what I would call "medium difficulty" mode -- you should know what you're doing and don't need to be insanely perfect in every call. So to make $10-$20k annually, putting $20-40k to work should do it. But you never know - I've had double-ups on some coins, so you might buy a $10k coin and make $10k in a single deal if you know what you're doing :)
- dogman144 3y agoTy! I’ve got the time and capitalization to try this in that case. Grew up interested in stamps so sounds like time to re-engage in a way. Appreciate the unselfish discussion and details.
- nlh 3y agoShoot me an email (see bio) and I'm more than happy to help in any way I can. The other wonderful thing about this hobby/business is that for the most part more dealers !== more competition, since there are so so many different facets of the business it ends up growing the hobby more than not. Happy to help you find your niche.
- dogman144 3y agoWill do next week. Thank you!