Online coin dealer and coin show seller

Hobby collectors, gift buyers, new collectors and some people buying bullion-type coins as a savings item.

You earn the margin between what you pay and what you sell for, plus small fees for appraisals. Fast-turning common coins add steady sales, while rarer pieces bring larger profits.

• Knowing coin grades and values
• Photographing and describing items accurately
• Fair dealing and negotiating
• Careful record keeping

• Counterfeit and altered coins, so learn how to spot them and buy from trusted sources
• Check your state and city for secondhand dealer, precious metals dealer or business license rules
• Check sales tax rules for coins and bullion in your state, as they vary a lot
• Insurance for stock at home and in transit, since standard home policies may limit coverage for collectibles
• Keep purchase records and check IRS reporting rules for cash and precious metals transactions
• Prices move, so don't tie up too much money in one type of coin

Startup costs are typically around $1,500 to $10,000, depending on how much coin stock you buy, your photography and display equipment and any show fees. These are estimates, and prices move, so avoid tying up too much in one type of coin.

Check your state and city for secondhand dealer, precious metals dealer or business license rules. Also check sales tax rules for coins and bullion, IRS reporting rules for cash and precious metals transactions, and insurance for stock at home and in transit.

Monthly revenue is typically estimated at around $500 to $4,000, depending on your stock, knowledge and how often you sell online or at shows. The estimate assumes about 8 or more hours a week. Revenue is before the cost of buying coins.