Thinking of setting up

[Peter]

The problem with combining dealing and collecting is that you have or want the same items that your customers want. The very nice rare piece you can't bear to part with is the same desirable object in their eyes too. The easy to get pieces that you wouldn't mind parting with on the grounds that you can always replace them with another are consequently difficult to sell because as common items there is always a chance they can pick one up on ebay for 99p instead of wasting £2 by purchasing from a dealer.

Agree 100% Rob. I simply had to make a choice, I couldn't afford to collect the coins that I was now hankering after, so I had to bite the bullet and put everything up for sale as the core of a business.

Unless you are willing to sell high value choice items that you would as a collector keep, you will struggle to make a living. Those are the customers which have to be concentrated on.

Collectors of low grade material will automatically migrate to ebay and overpay - but they are in the right place. Collectors of high grade material need to be weaned off ebay where the risk and cost of mistakes is high, and use lists, fairs, websites and any other means which offer the opportunity to examine the piece in question before a commitment to purchase is made. They might not get the bargain they automatically expect from ebay, but using knowledge and physically handling the coins before purchase will lead to a better understanding of what's available, what it costs and a greater level of overall satisfaction. For the vendor, that means repeat business which is the key to any form of business success.

I use 2 dealers who don't provide pictures...however I trust their grading and I have never returned a coin.I still use all avenues to aquire coins including fairs,ebay and internet dealers who provide images.I have bid at auctions but have been blown away.It seems what I like is everyones taste.

I will keep an open mind on every source.

[Peckris]

I had illusions of dealing but have now resorted to be a collector and doing the occasional deal...I've just bought 3 coins to sell on but this won't pay the mortgage....I find selling emotionally difficult

The problem with combining dealing and collecting is that you have or want the same items that your customers want. The very nice rare piece you can't bear to part with is the same desirable object in their eyes too. The easy to get pieces that you wouldn't mind parting with on the grounds that you can always replace them with another are consequently difficult to sell because as common items there is always a chance they can pick one up on ebay for 99p instead of wasting £2 by purchasing from a dealer.

I never found this a big problem - such coins would be part of a larger auction lot and I would bid accordingly based on a mix of 'dealer / collector'. Then siphon off the coins for me, and list the remainder. Also, if I already had the coin, I'd either swap (if better) and list the older one, or simply list the newer purchase with no qualms. If I was buying single coins, I would know from the start if one was for my own collection, and potential customers for it simply weren't part of the equation.

Then again, my dealing wasn't professional enough to be more than an extended hobby - I never relied on it as sole income. That would certainly have created different attitudes.