If I may give you a somewhat indirect answer: One of the best things about this business is it returns proportionate to the effort you put in. I know people working with $50k in capital who make $500k a year. I also know people with $1m in capital who make $100k a year. (And I know people with $50k in capital making $50k a year).
And at the extreme: I know one high-volume wholesale dealer (who's been doing this for decades) talking about his business. He has about $250k in capital for inventory and he turns his inventory 36 times a year --- $9m in gross sales! And he's a high margin guy -- so I'm guessing he's making $1.5-$2m a year on $250k in rolling inventory.
There are a lot of ways to make money in the coin business and one of the most fun parts is learning new and different strategies every day.
LOL true! My internal survivorship bias was showing. You do hear an awful lot from the dealers who have been around for 40+ years but not-so-surprisingly less so from the ones who didn't make it.
And at the extreme: I know one high-volume wholesale dealer (who's been doing this for decades) talking about his business. He has about $250k in capital for inventory and he turns his inventory 36 times a year --- $9m in gross sales! And he's a high margin guy -- so I'm guessing he's making $1.5-$2m a year on $250k in rolling inventory.
There are a lot of ways to make money in the coin business and one of the most fun parts is learning new and different strategies every day.