Starting a coin collection business will require start up capital and investment, but the end product of a successful coin collecting marketplace will be a rewarding experience both for you and your consumer.

You have two options for targeting your coin collection consumer. You can market locally to draw in buyers in your town, which can possibly sustain a business if the metropolitan area is large enough. Or you can pick the biggest consumer marketplace: online.

The first step to promoting your coin collection business is to develop a web presence. The keys to promoting a quality website include:

1. Investing in a website development consultant. For low end price, use a college student with web and design know-how. If you can afford it, consider hiring a professional. Either way, the investment will pay off an aesthetically pleasing website that customers find easy to navigate and enjoyable to visit.

2. Promoting the coin collection value. Price lists are a must for the more common coins, but explanation of rarer coins helps give them added value to the consumer.

3. Putting your name out there. You have to work to spread the word through trade publications and locally.

Action Steps
The best contacts and resources to help you get it done

Be informed about coin collection value and the coin collecting industry

For example, learn the value of a presidential coin collection or a silver coin collection. Understand the pricing of coin collections for sale so that you can take a more educated approach to your buying and selling.

I recommend: Become a dealer subscriber to the Numismatic Interactive Network, LLC site and receive their Weekly Market Dealer Price Guides. Check out the advice guidelines and industry scoop from US Coin Values Advisor.

Build your business by building your coin collecting inventory

Find a wholesaler of coin collection lots to begin your stock of inventory.

I recommend: Jake's Marketplace, Inc. was established in 1963. They are a buyer, seller and appraiser of U.S. And foreign coins and currency. They distribute for most of the major manufactures of coin supplies including Whitman, Meghrig, Air-Tite, Dansco, Numis, Littleton, Edgar Marcus, H.E. Harris, Vidiforms and more. They also offer distributor wholesale pricing to dealers and retailers. CollectorsInternet.com is one of the largest market for rare coins and stamps in the world. WSCoin.com has a wholesale deals and closeouts section of their website to offer volume discounts. Started in 1963, Jake's Marketplace, Inc. is a leading dealer and wholesaler. CollectorsInternet is one of the largest and oldest brokers of coins on the and closeouts to give volume discounts.

Begin purchasing your other coin collecting supplies

Also remember to purchase your coin collecting supplies and literature to aid your new clients.

I recommend: Purchase coin holders from The Coin Supply Store. Mark Johnson Coins & Supplies offers a wide selection of coin albums, coin folders, coin holders and state quarter supplies.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Help your clients hold their coin collection values by supplementing their purchase decision choices with options such has coin collecting software, coin collecting protectors and other coin collecting supplies.