Coin and banknote shop

Local collectors, people selling inherited collections, gift buyers and some investors. Walk-in valuations bring in a steady flow of stock.

Margin between buying and selling prices, plus supplies such as albums and capsules. Online sales help to cover rent when footfall is quiet.

• Strong coin and banknote knowledge
• Valuing items fairly and explaining prices
• Customer service and building trust
• Basic bookkeeping and stock control

• Check whether you must register with HMRC under money laundering rules, as dealers who take large cash payments may need to
• Shop insurance, including stock cover and public liability, and security for high-value items
• Check the VAT rules for second-hand goods and for gold or silver bullion
• Record who you buy from, and be cautious about items that may be stolen
• Rent, business rates and quiet months can be a heavy fixed cost, so test demand online first
• Check with the council about planning use and any signage rules for the unit

Estimated startup costs are typically around £8,000 to £40,000, depending on the unit, stock, security and fit-out. Rent, business rates and quiet months can be a heavy fixed cost, so test demand online first.

Monthly revenue is typically estimated at around £3,000 to £15,000, depending on location, stock quality and your online sales. This is revenue, not profit, so allow for rent, business rates and the cost of stock.

Check whether you must register with HMRC under money laundering rules, and the VAT rules for second-hand goods and bullion. Also check shop insurance, record who you buy from, and ask the council about planning use and signage.