How can I become a gold or silver coin salesman?
September 27, 2010 by
Filed under Silver Investment FAQ
I have sold items on the phone before, working in a boiler room operation.
Now I have an idea that many people are worried about the dollar losing value, and would like a hedge against inflation with investments in gold or silver coins.
I don’t know how to get started. I don’t know what licenses are required in California.
Also, I would like to work from my home, either as a contractor for a brokerage house, or for myself.
Any ideas?
Thanks in advance,
Ken
I will be your very first customer, I will pay spot for all the silver eagle coins you have or maple leaf coins you have
Not sure about California regulations, better to talk to someone from California government.
If you work from home, are you running a store, or do you deliver?
Hazards both ways.
I hope you have cash to buy some start up inventory.
If gold prices rise (as I expect them to over the long run) you will have to buy new stock at higher prices. Watch fix and spot prices like a hawk.
I doubt brokerage houses would get involved, they want to churn stocks. But you could ask.
Grandpa
A few basics to keep in mind
Make sure you also hire gunmen (to protect your coins)
Check on insurance required. handling gold = risk..
Anyone can become a gold or silver salesman, but to do it professionally you either must have a death wish or you can afford to loose what most people would call a very large sum.
It is not the glamour job you might think.
You will be the target of thieves, con artists, schemers, and the tax department (sorry if you think I might have mentioned them already).
You will need to spend mega thousands on security, advertising and insurances all for a gain of $50 for each thousand dollars spent.
My advise, first start by buying some personal stock spend a few hundred hours going to coin dealers, auctions and be prepared to loose some big dollars as you will undoubtedly get stung with a few dud deals.
People will sell you goods that they do not own. and they will squeal either to the cops, (who will come and take them from you) or if they belong to a drug baron, mafia hit-man, or other unsavoury type, (who will send someone around to pick them up, after breaking a few limbs or worse), so in the end you will loose and have to grin and bear it.
But apart from all that if you do succeed, it is an interesting profession.
I would say if you are serious, have $1,000,000 or more to throw away or get a second job on the side