Open a coin and banknote shop

Collectors, investors buying bullion, families selling inherited collections and people after gifts or collecting supplies.

Margins on coins and notes sold, small premiums on bullion, and sales of albums, capsules and catalogues. Appraisal or consignment fees can add to this.

• Strong coin and banknote knowledge and grading
• Fair pricing and negotiating
• Security awareness and record keeping
• Customer service and building trust

• Second-hand dealer rules differ between states and territories, and some may cover buying coins and notes, so confirm with your state's fair trading or licensing body whether you need a licence or registration before you trade
• If you buy or sell bullion, check with AUSTRAC whether you must enrol as a reporting entity, and ask the ATO about GST treatment and record keeping
• Cash purchases may bring identity-check and record-keeping duties, so confirm what applies to you
• Theft and robbery risk, so check insurance for stock and security requirements
• Public liability insurance, and workers compensation once you hire staff
• Stock tied up in coins and falling metal or collector prices
• Counterfeits and possibly stolen items, so keep clear purchase records

Estimates suggest startup costs typically around $25,000 to $100,000, depending on your premises, display cabinets, security, and how much stock you buy to get started.

Check before you trade. Second-hand dealer rules differ between states and territories, so ask your state's fair trading or licensing body about licences or registration. If you deal in bullion, also check AUSTRAC enrolment, GST treatment with the ATO, and cash purchase record-keeping.

Estimates suggest monthly revenue typically around $8,000 to $30,000, depending on location, stock, and how much you buy and sell. These estimates assume about 35 hours a week or more, and revenue is before stock and running costs.