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/biz/ - Business & Finance

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18589642 No.18589642 [Reply] [Original]

How lucrative is owning a coin/bullion business? Is it difficult to make a profit?

>> No.18589877

>>18589642
There's not really a profit. It just hedges against inflation which is coming bigly in the next couple years

>> No.18590047
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18590047

>>18589642
I'm (somewhat) in this space - I sell numismatic "grab bags" on ebay, amazon, and my own site. Essentially, I buy old US and world coins by the pound(in some cases 10+ pounds) and sell them at a markup.

For example, I can purchase the contents of a $20 grab bag for about $6. Tack on an extra $3 for shipping and I'm netting about 55% margins. Those - of course - increase with the size of the product. For example, the contents of a $100 grab bag might only cost me $30-35 in bulk.

The crazy thing is people order multiple at a time, or even order on a monthly basis. It's a great part time hustle.

>> No.18590090

>>18590047
Good margins, but who sells them to you by the lb?

>> No.18590117

>>18590090
old people and european banks with reserves of worthless pre-euro coinage

>> No.18590408

>>18590047
Do the people unboxing them make a profit if individually resold? might be good for return customers

>> No.18590492

>>18590117
Are you a urofag? Can you hook me up with some dutch silver.

>> No.18590538

>>18589642
How lucrative is owning a coin/bullion business? You buy at the right times and you can make profit when it goes up in price. For the average person holding gold, you are not holding it to make money, you are storing 500k-1million+ worth of gold in kilo bars for 10-20 so the value of your money isn't eaten away.

>> No.18590554

>>18590538
10-20 years*

>> No.18590945

>>18590492
I’m US
>>18590408
Well, that’s the idea - but in reality it’s not normally a winning investment. I have to make money somehow. However, I constantly run contests/giveaways where I buy nice, $1000+ coins and put them in random bags. It eats into my margin a bit but the potential of opening a $20 grab bag and finding a CC Morgan dollar is enough to bring people back again and again and again.