Great listen. One thing I learned quickly working with my dealer is that Appointment Only is the way to go. The number of broke, cheap, take all of your time and buy-nothing people that will come in tire-kicking never stops otherwise.
Much of what my LOC sells me is worth a few dollars more and I usually discover this (thanks Google) after I've bought from him. Don't know how he does it, probably buys lots for a very low price from desperate people and estate sales, I dunno. He's given me so many good deals I recently gave him some collectable silver that he really likes. Don't mind the pump action shot gun sitting against the wall when you walk into his small store, that's just what any other protective precious metals shop owner would do.
Spent 25 years as a W2 slave in various corporate b2b sales roles - so done with it. I've been a passionate "economy-minded hobbyist" in this community for nearly 15 years now, so starting a business venture out of what I love and believe in makes a lot of sense. Perhaps I'll start small, promoting the importance of owning PMs to my local social circles... it's a largely affluent community and I have some ideas on how to add value and command higher premiums. Thanks for the timely and motivating video fellas - just got to figure out my niche!
Even though I'm not a coin dealer when I buy certain things from a coin dealer first thing I always ask what is the buy back on the item so that I know what might be my best options second I always try and buy silver under 20 bucks an ounce and gold under 2k because we have seen silver reach 30 bucks and higher and gold reach over 2100 so if you need to sale anything and you don't have the means to sale online fast and you have to rely on a coin shop you won't lose money unless you buy a high collectable premium item then you most likely will
Never had a problem with stormy sending me what i bought and paid when ive asked. I try and keep track on my own spreadsheet. Unless im driving because of the new bloody auction time!!
Great conversation and info guys! I think it would be a good idea to get an invoice when you buy something especially if someone is going to resell that item at a later date. Just know that big brother is always watching it might be good to have a paper trail if you want to sell personally or as an LLC.
I would love to have a coin shop. Or even online business. Buying up old collections for half the value. Lol I say that with going to hundreds of coin shops and watching them buy items for half price. Seriously though. Been wanting to do something like that for years now. So I did start my own silver channel. Maybe just try to get bigger from there. Check it out if you want. Thanks
@@EmpirePreciousMetals good video and info! I have some new videos up on some silver packages coming in. New videos dropping tomorrow too. Check it out if you get time. Just subbed, looking forward to seeing more videos
@@CuSTACKS is not something I'm actively pursuing. No. Just a thought if always had. Love coins, been collecting as a kid with my father. Not completely stupid about coins. It could work if I had the money to invest in doing so. But I don't and can't quit my union job to gamble on a store front
I bet you get so many people who don't know what they have I mean how do you How do you deal with those customers?? My dad used to work in coinstar and he would find Morgan dollars dumped in the machine Peace dollars... Even some gold every once in awhile.
I don't know I feel like if you want more people interested in gold and silver there needs to be more education out there. There's so many scammers I mean going to some of these places and they want to give you 50% of the actual value of something.
The mics were picking up the other person in addition to the person they were in front of. One more video coming out is like this but then we got it fixed.
It's an Education. Education should come at a cost. Stormy who does your books? What program if you don't use QuickBooks or is it just a spreadsheet? Andrew, what type of handwritten paperwork do you use? I'm in the printing business, might be able to save you some money. One thing about free shipping is the buyer doesn't have to pay extra sales tax. Buyers like that, why should they have to pad the .gov wallet. Speaking of wallet. Stormy when you hold people's PM's change the wallet to a vault. Sounds more secure No?
ALL my transactions are electronic across state lines. I can print off any payment from any customer whenever I need to. The customer's bank has a record as do my payment platforms. I do not deal across the desk, face to face, dealing in cash like Andrew does. Why do I need an invoice?
