Coin Collecting As a Profitable Online Business?

According to CNNMoney.com, it is reported that ‘every 11 seconds someone starts a home based business that allows them to work at home’. One of the most common types of work from home businesses is forming an online business. How successful are these ventures? The article continues, stating that about’ 20% of work at home online businesses gross between 100k and 500k per year.’ Clearly, a motivated entrepreneur can create a profitable business in the comfort of their own home.

What is the difference between the 20%, living the dream, working from home, traveling the carpeted super-highway from bedroom to home office & making six figures plus per year and those 80% working from the ‘discomfort of their own homes? The biggest difference is the type of online business they start. A successful online business must consist of a product people recognize as having value and must generate great demand.

When deciding what type of six figure online business to start, two important questions to ask are 1) How many transactions occur per year and 2) how much revenue does the industry generate each year? The larger the industry and more transactions that occur, the more likely your home based business is to have success.

One of the more popular, successful, and profitable online businesses people are starting in this economy is that of Numismatic Coin Collection. “Numismatics” is simply the studying and collecting of money. Is there any more majestic type of business to start than that which revolves around money?
In a nutshell a numismatic coin is regular bullion coin issued by the US (or any other) government that has been certified for authenticity by an independent third party. To prepare it for sale it’s then sealed into a container. Its market values are determined by its rarity, condition, mint date and marks, not taking into consideration their precious metal content. Generally speaking, due to the perceived value of the event it’s honoring, numismatic coins will be sold at a value for more than what the metal is currently worth and may take months or years to appreciate in value.

Does an online numismatic business satisfactorily answer the questions listed above? Demand for numismatic coins is at an unbelievable high. In the first three months of 2010 alone, over 9,023,500 American Silver Eagle coins were sold by the US Mint! Does the numismatic coin industry generate revenue? Last year, over $10 billion dollars of business was transacted in the numismatic industry in North America alone, and the worldwide numismatic business is well over $120 billion.

With its explosive growth over recent years, collecting numismatic coins can be a very profitable business to be involved with. Many educated investors are realizing that the dollar is quickly losing its value and many folks are securing their riches on gold and silver. Due these factors, many savvy entrepreneurs seeking to start a profitable online, business from home in a booming industry are starting businesses with numismatic coins.

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