Online gold coin and bullion seller

Individuals buying gold as gifts, collectibles or a savings store, and people who want to sell coins or bars back.

A margin over the wholesale price on each sale, and a spread on buybacks. Most of your money is tied up in stock, so margins per sale are small. The revenue figures shown are gross sales, not profit.

• Understanding gold products and pricing
• Online selling and customer trust
• Secure packing and record-keeping

• AUSTRAC enrolment, customer verification and reporting duties for bullion dealing, confirm what applies before you trade
• Second-hand dealer rules may apply if you buy from the public, check your state or territory
• Stock is a large upfront cost because you need to hold enough inventory to sell, and prices move with the gold market
• GST treatment of investment-grade gold versus other items, confirm with an accountant
• Fraud, chargebacks and fake coins, verify items before paying out
• Insured postage and secure storage for valuable stock
• Council rules if you meet customers at home, check approval for home-based business

Estimates suggest startup costs are typically around $20,000 to $100,000, depending on how much inventory you hold. Stock is the biggest upfront cost, and prices move with the gold market, so also allow for insured postage and secure storage.

Check AUSTRAC enrolment, customer verification and reporting duties for bullion dealing. Also check second-hand dealer rules if you buy from the public, GST treatment of investment-grade gold with an accountant, and council rules if you meet customers at home.

Estimates suggest monthly revenue is typically around $10,000 to $50,000, depending on stock levels and demand. That is revenue, not profit. The estimates suggest at least about 10 hours a week, depending on how many buybacks and orders you handle.