Becoming an Antique Coin Dealer
Becoming an antique coin dealer requires you to be really on-the-know regarding these historical materials.
You must also have enough network of connections to gather more clients and possible investors and consultants regarding your business.
Antique coin dealers may be a coin enthusiast or just a businessman that has enough connections to sell antique coins. The main source of income of the antique coin dealers are the coins from different countries that have been passed on and replaced from generation to generation. These coins are basically essential elements of history that may be of interest to historians and numismatist.
In becoming an Antique Coin Dealer, your philosophy must be ‘the older the coins, the better’. You are capitalizing mainly on the origin and age of the coin you are selling. The more it has been through, then, the more it is lovable to the collectors. These antique coins are historical memorabilia that will always be treasured. For some, it may not be of much value. But if you would bring this to National Museums, you could surely earn a fortune with each antique coin.
But you cannot and must not fool your buyers. Normally, the people that would come to you for your antique coins are those working in a museum or the coin collectors. These people have enough knowledge on how to analyze and identify an antique coin, including its price. They are basing it all with the age, country, and the originality. They even love to have the rarest coins that they can find.
Thus, as an aspiring antique coin dealer, you must be knowledgeable of these facts. You cannot be selling things that you have no idea of its etymology. Without enough background with these items, you might be fooled by those antique coin experts. Or, you might not be that reliable enough for more customers to come to you. They might even doubt your capacity of selling genuine antique coins.
And so, to have enough knowledge regarding your business, you may have your research through museum curators. They are walking history books, so most probably they can answer your queries regarding these materials used as a trading commodity. You may also ask numismatists on the items that are in demand for folks like them.
You must also have a record of your contacts that are willing to sell and buy antique coins from you. These contacts must be trustworthy and reliable because most of the time, transactions and payment modes are in the form of estimation and biddings. With good contacts, you are sure that the prices are not too low nor they are too extravagant.
You may also start looking for other antique coin dealers, especially those who are already expert in this kind of business. They may share some useful tips and advice on being an antique coin dealer. If you are lucky, you may also be shared with some of his contacts in case he feels being generous with clients. He might think of recommending you as a form of helping you start up your business.
An antique coin dealing business may be operated at your home. You’ll just have to place your coins in a safe and air tight bags or sealed boxes to avoid more changes that may affect the value of your product. But if you want to have a space of your own, you may find a good location for your business. Just choose a place where there are not many competitions in your area.
Advertise your business by giving away brochures and fliers to prospective clients. And to further spread your promotions, try opening your own business website so that it can also be open to people who are always surfing the internet.
- Dear Sir, I am a coin collector (just started to collect coins for the past 6 months only) and i came to know one of the coin collector/dealer wish to sale One Rupee Silver coin of 1912 AD. Pls guide me how to analyze and identify the said coin's original age (whether it is original antique coin or a fake one). Thanks for the Support.
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