How to Make Money with Canadian Coins

Join dealer organizations. Joining groups such as the American Numismatic Association and Royal Canadian Numismatic Association gives you credibility in the eyes of collectors and fellow dealers. Members agree to abide by a code of ethics to govern their transactions, and their web sites list dealers by state and specialty.

Apply to be an authorized dealer with major coin grading services. Large coin-grading services such as Numismatic Guaranty Corp. and Professional Coin Grading Service have authorized dealer programs that allow authorized dealers to submit coins directly to the coin-grading services.

Join industry trade groups. Becoming a member of industry trade groups such as the Industry Council for Tangible Assets further solidifies your involvement as a rare coin dealer, and it can be used as evidence of your commitment to good business practice that some state licensing boards require. You can also build relationships that will allow you a source for inventory by becoming involved.

Learn about Canadian coins. Many guidebooks that deal with Canadian coins and their values are available at local bookstores and libraries. These books list retail values of coins, so to make money, you must buy your coins for less than you sell them for.

Advertise yourself. Putting ads on Internet bulletin boards such as Craigslist or listing an item on eBay can attract retail buyers who will likely pay more for your coins than a fellow dealer. When listing, use plenty of pictures, and hopefully, your clients will be satisfied and recommend you.