Vestpocketing, what do you think?

[IrishMike]

I am ready to step out of the rat race, having been working since 1959, received the last instalment on a company I sold in 1999 and am thinking of part time work to stay busy and recoup my health. The idea of becoming a part time dealer has appealed to me lately.

My children have no interest in my collection and they are set financially as I am. I thought this would be a great way to see some of the country and enjoy what has been a rewarding hobby for almost 50 years.

 

Any thoughts, pro or con..advice etc. ?

[spy88]

Mike, I envy you and your predicament! And if you have enjoyed the hobby for the past 50 years as I too have, then I would go for the next 50.

 

Hit the road, my man! Travel to shows, auctions, anything and everywhere your heart takes you! This after all, what the first 50 is supposed to allow you to do in the first place. The only thing better would be having a buddy to do and enjoy it all with! (I'm available to valet, iron, cook, make reservations, etc.!).

 

ENJOY!!!!

 

David

[Tradedollarnut]

Once you experience the dealing side of things firsthand, it will be difficult to continue to enjoy the hobby side.

[spy88]

Ordinarily, I would agree with you, but Mike has no need to do it out of financial interests. That gives him the HUGE advantage to enjoy both sides of the market without regard to profit/loss always being the purpose.

 

I'd be flying away! And get in as much golf everywhere I went too!

[CarlWohlforth]

Since you want to see the country and love coins by all means go for it. If you buy coins you like and don't get overextended you probably won't lose much if anything and might even pay for some expenses.

 

It is very important to stay engaged in some interesting activity. I've seen several people retire then just fade away as they did nothing but watch TV. So I am all for your idea. Good luck!

[IrishMike]

Once you experience the dealing side of things firsthand, it will be difficult to continue to enjoy the hobby side.

 

TDN, I hear what you are saying, but I have been married to a New Jersey gal for a long time and you know how difficult dealing with gals from that part of the country can be.

[Tradedollarnut]

you know how difficult dealing with gals from that part of the country can be.

 

[goose3]

Wow there are certainly many people that would love for the chance to be in the position you currently find yourself in.

 

I say go for it. If you don't end up enjoying yourself meeting new people, traveling all over the country, and viewing, buying, selling lots of great coins you can always go back to Not being a vestpocket.

[TomB]

I say you should try it. In my experience, I have found that if I buy only coins that I want for me that I typically have little trouble finding someone else who wants them from me. It's not what I do for my primary income, so I can make my own schedule and rules.

[sanmary]

I think it would be a great way to stay in coins and see the country as you've mentioned. But....are you prepared to part with YOUR collection???

[BillJones]

The fun part of coin dealing for me is that I get to buy and sell a MUCH wider variety of coins. I also have a ready market for the "rejects" from my collection. It's also fun to work with collectors and help them build their collections.

 

What's the bad stuff? Travel is the pits because the airport security. It's also no fun getting to and from shows because of low lifes that want to follow you home.

 

And sometimes you run into customers who just go off the deep end. Recently a fellow started to use a 20 power glass to grade coins. When he returned a high end MS-63 coin to me because it could not pass the muster under his 20 power glass I decided that it was time to call it quits with him. You have got to be realistic and that comment works both ways.

[Oldtrader3]

On the customer relations end, I sold a well struck, clean for grade, MS61-PCGS 1851-O Gold dollar (NGC Pop. 141, with about 60 higher) on Ebay (with big scans) to some guy for a little over Grey Sheet money. He returned the coin because it had some "marks" (light ticks) on it. Duh! What does this guy think a 51-O in MS61 is going to look like?

 

I guess that this is part of the game! However, I relisted and sold the coin for $100. more than he paid for it. Such is the business of dealing with customers who want something for nothing, or do not know what they are doing. I guess that you just have to roll with it and write off these people as insufficiently_thoughtful_persons!

[paigow_johnny]

Hey Irish...we're having our one big show of the year in San Diego June 26-27th. We'd love to have you. I can send you a bourse application