Learn. Share. Evolve…

0:00:06 Today’s guest built an $80,000 a year side hustle around a fairly obscure hobby, and
0:00:08 today is breaking down the steps he took to get there.
0:00:12 This is the Side Hustle Show, where we’ve been helping people make extra money since
0:00:13 2013.
0:00:15 If that’s what you want to do, you’re in the right place.
0:00:19 Today, you’ll learn how to build an audience from scratch and build enough trust to get
0:00:21 strangers on the internet to pay you.
0:00:28 From KinzerCoins.com and the Ancient Coin Hour on YouTube, Dean Kinzer, welcome to the
0:00:29 Side Hustle Show.
0:00:31 Thank you so much, Nick, for having me on.
0:00:35 Huge fan of the show and hope to contribute and hope to teach somebody something today.
0:00:42 Well, I love me a hobby-based business or turning a hobby into an income stream, and this is
0:00:47 a really unique one around ancient coin collecting, like biblical era, Roman Republic type of stuff,
0:00:49 where it’s like, I guess it makes sense.
0:00:49 It’s metal.
0:00:50 It doesn’t necessarily go away.
0:00:53 These things still exist, and you can trade them, and you can sell them.
0:00:56 And so where does this thing start, or how’d you get into it?
0:01:02 Well, okay, so the reason I named it KinzerCoins is my dad was a coin collector and a collector
0:01:03 of many things.
0:01:07 He also was a coin dealer and a baseball card dealer on the side.
0:01:11 So we used to, as kids, go to shows routinely with him.
0:01:17 As I grew up, he started, me and him kind of, I grew up and moved on and stuff, but when
0:01:22 his health started failing, I had to work through his estate, and I started working through his
0:01:22 estate.
0:01:29 And I got to these coins, like a tribute penny of Tiberius with Livion the reverse, and it
0:01:32 just really didn’t make sense to me that I would just be selling this.
0:01:34 This is 2,000 years old.
0:01:35 It’s not like a wheat penny.
0:01:37 This means something.
0:01:41 So instantly, I’m like, how do you find out more about this?
0:01:44 I knew a little bit, but not from when I was a kid.
0:01:46 I was interested in Americans.
0:01:51 So I ended up joining a Facebook group, one of the best medieval and ancient coins.
0:01:53 It has about 10,000 members.
0:01:54 And so I started connecting.
0:01:59 And really, the journey began as soon as I started connecting to people on Facebook.
0:02:02 And so I began to learn about the coins.
0:02:08 Ancient coins are a very interesting subject because Americans largely don’t know about
0:02:08 them.
0:02:12 Europeans are active because it’s Europe.
0:02:13 That’s where they come from.
0:02:18 But Americans, it seems like once they cross the pond, it stopped being a part of their kind
0:02:20 of lexicon or their understanding.
0:02:25 And so my whole goal is to take these ancient coins and make them relevant to Americans.
0:02:29 And that’s the idea behind the side hustle.
0:02:31 So full-time, I do operational work.
0:02:39 And part-time, I try to educate and sell ancient coins that are readily available and probably
0:02:42 one of the most interesting hobbies that I’ve ever been a part of.
0:02:43 Yeah.
0:02:45 So you’re making money in a few different ways.
0:02:47 You have coins for sale through the site.
0:02:51 So I imagine you’re making a margin on those and whatever you’ve been able to source.
0:02:53 We can talk about that.
0:02:57 The YouTube channel has grown quite a following, 40,000 plus subscribers on YouTube.
0:02:59 So I imagine you’re making money from that.
0:03:04 Real quick, do you mind sharing the additional revenue streams or how this business works?
0:03:06 I play in retail, so I sell coins.
0:03:10 The reason that I have a podcast is because what I noticed, and a lot of your listeners
0:03:15 might notice, is that when you have hobbies of this nature, the information that’s out
0:03:18 there, particularly in digital form, is slow or none.
0:03:25 So when I went to YouTube to look about ancient coins or went to just anywhere, there wasn’t
0:03:29 a lot of information and it wasn’t in a way that I could understand it.
0:03:35 And so I created the podcast for beginning collectors so that they can understand A, what ancient coins
0:03:41 are about, B, who to buy them from and who to trust and C, not to get tricked because a lot
0:03:42 of people get tricked by ancient coins.
0:03:48 There isn’t a quick and dirty way to find out if something’s real or not, but over time
0:03:51 and with some learning, we can definitely teach you.
0:03:51 Yeah.
0:03:52 So I do that.
0:03:58 And then I do auction representation, which is another way of people getting involved in
0:04:02 auctions that don’t necessarily want to lift the paddle or don’t feel strong enough about
0:04:05 their interest that they know what a good deal is.
0:04:09 And so they’ll come to me and ask me to auction for them or to buy something at auction for them.
0:04:12 So those are really kind of the three services that I offer.
0:04:16 Okay. So auction representation, meaning you will go out and try and source coins for other
0:04:17 collectors.
0:04:22 A lot of times collectors will have an idea of something, but they don’t know how it is
0:04:25 in actual person, like what that coin is.
0:04:26 Like I want an Alexander the Great of this.
0:04:28 So I’ll do the research.
0:04:29 I’ll hunt it down.
0:04:30 I’ll give them options.
0:04:36 And then I will represent them at the auction, either in person or online to help them get
0:04:37 that at the best possible price.
0:04:38 Okay.
0:04:40 So yeah, that’s absolutely what I do.
0:04:40 Yes.
0:04:42 And you just charge a flat fee for that?
0:04:43 You take a percentage of…
0:04:43 Just a percentage.
0:04:44 Yep.
0:04:45 Small percentage.
0:04:45 Okay.
0:04:46 Yeah.
0:04:48 5% or something small, whatever it is.
0:04:49 How much do these things cost?
0:04:50 Like what?
0:04:54 I’m trying to think of like, well, 5% of 50 bucks or 5% of 5,000.
0:04:54 Okay.
0:04:58 So ancient coins are interesting because they come in all shapes and sizes.
0:05:01 One of the great things about ancient coins is they can be very affordable.
0:05:05 For example, if you’re interested, coins from the era of Constantine the Great, what they
0:05:13 call late Roman bronzes, about 300, 400 AD, around the time of the legalization of Christianity
0:05:15 through Constantine and all that kind of stuff.
0:05:17 They made most of their coinage through bronze.
0:05:18 Okay.
0:05:25 And because there are, they made hundreds of thousands or millions of each one of these types.
0:05:27 So there’s an abundance of bronze coins.
0:05:33 So you can buy a coin of Constantine the Great for $20 and it’ll be in good condition and
0:05:35 you’ll be very happy with your purchase.
0:05:43 Or you can buy a coin that Brutus celebrated his killing of Julius Caesar in 42 BC that retailed
0:05:46 for about two and a half million pounds or $4 million.
0:05:48 So that’s really the stretch.
0:05:50 You can get really cheap or you can get really expensive.
0:05:56 You can buy the coinage of Alexander the Great cheaper than you can buy a lot of American coins.
0:06:02 It’s just a really interesting kind of imbalance almost in terms of historical value.
0:06:05 But there, I love them so much, I can’t stop talking about them.
0:06:07 Yeah, it’s super interesting.
0:06:12 And it sounds like approaching it from the perspective, I know a little bit about this.
0:06:16 My dad was involved, but I’m not the world’s leading expert on this stuff.
0:06:20 So it’s kind of this learning alongside the audience in a lot of ways.
0:06:20 That’s right.
0:06:25 So going back to this Medieval Coins Facebook group, what’s going on in there?
0:06:28 Like, were you trying to build up a reputation?
0:06:32 I’m trying to think of the person who might be in a similar boat who’s entering a different
0:06:36 niche, but they’re kind of like, I know a little bit about it, but I’m not confident enough
0:06:39 to stand up on the podium and say, hey, everybody, listen to me.
0:06:44 Well, the great thing, okay, so this Facebook group, and I’m sure there’s all kinds of these
0:06:45 for different hobbies.
0:06:45 Yeah, yeah.
0:06:51 The Facebook group that I found is like this eclectic group of lawyers, doctors, scholars,
0:06:54 you name it, gas station attendants, whatever it is.
0:06:59 And it’s this huge group of people that have expertise in all of these different areas.
0:07:01 So you can reach out.
0:07:06 And I got to tell you, ancient coins, they covered about half of the world over 2,000 years.
0:07:08 So there’s a lot of different types.
0:07:10 There’s a lot of different meanings.
0:07:16 And so, fortunately, you have a place where you can find those types of people that know
0:07:18 about it, because everybody kind of has their own specific niche.
0:07:23 And so even within ancient coins, there’s people that only collect Roman provincial coins,
0:07:28 only collect Greek, only collect a certain emperor, only collect all the emperors.
0:07:28 Okay.
0:07:30 So there’s a bunch of different ways to do it.
0:07:34 It’s like the state quarters, except for emperors.
0:07:34 Yeah.
0:07:40 One thing that’s interesting is there’s already a little bit of an ecosystem built around this
0:07:46 in the fact that you found a Facebook group that had 10,000 members versus coming in completely
0:07:50 cold and trying to shout into the void of the internet, hey, I think this stuff is cool.
0:07:51 Anybody want to follow me?
0:07:52 Anybody want to pay attention?
0:07:58 Does the podcast, YouTube channel happen in parallel to this initial Facebook group stuff?
0:07:59 What’s going on there?
0:08:03 So I went to the Facebook group for a couple months, and once I found out that there was
0:08:08 no point of reference for me learning, other than just the historical aspects of it, that’s
0:08:10 when I decided if there’s a void, I’m going to try to fill it.
0:08:15 So actually, I partnered with somebody who’s been in numismatics much longer than me, Josh
0:08:20 Benevento, who’s my guest host, also a Grammy-winning opera singer.
0:08:21 So talk about unique.
0:08:21 Okay.
0:08:27 But the combination between us, he’s more of a technical expert, and I’m more of a talking
0:08:28 head.
0:08:32 But between the two of us, we’re able to get a lot of information out.
0:08:38 And the other thing that we do on the podcast is we bring in authors, we bring in people that
0:08:44 own auction companies, people that own dealerships, so that they can explain their perspective and
0:08:47 the ways to deal with them in a way that’s helpful to a new buyer.
0:08:51 Somebody who’s new in the industry, we’re trying to connect you to the people that maybe you
0:08:56 wouldn’t find for a couple of years and get their perspective and some of the things that
0:08:58 they think are beneficial for you to learn.
0:09:01 So in a lot of cases, we’ve done some legwork for you.
0:09:05 And that’s the point is to teach you about this thing so you can get involved.
0:09:08 Describe the first few months of the podcast.
0:09:10 Is it crickets?
0:09:12 Is it an instant hit?
0:09:16 Is there a moment where you’re like, hey, there’s there’s clearly an audience for this?
0:09:18 You know, we’ve really tapped into a nerve here.
0:09:23 Well, the first thing I noticed was that nobody would watch, even the people that I know in
0:09:27 the business, so it took a little bit of time and you really have to figure out what purpose
0:09:28 are you trying to serve?
0:09:34 You know, if you’re trying to talk to an existing community of collectors, that’s going to be a
0:09:36 totally different discussion point.
0:09:42 So there’s another guy in the business who does a podcast that talks mostly about auctions and
0:09:44 that’s what he cares about and that’s what he’s involved in.
0:09:46 So those people will learn about auctions there.
0:09:51 But to me, it’s hard to continue down that path when you don’t know enough about the business.
0:09:55 So that’s why we focus on training or we’re teaching people.
0:09:59 Are you primarily targeting people who somehow came across this hobby, but are just like seeking
0:10:04 education or like, yeah, you’re trying to like sell people on, hey, you should have ancient
0:10:06 coins as part of your investment portfolio.
0:10:07 That’s right.
0:10:07 That’s right.
0:10:08 Who’s the audience?
0:10:10 He said, well, you got to figure out what purpose do you serve?
0:10:11 Yeah.
0:10:15 So I’ll flip that around and say, what purpose does the podcast serve for you?
0:10:20 So in terms of people that love history, there is an abundance of that, right?
0:10:25 I mean, there are channels on YouTube that have millions of subscribers and a huge following.
0:10:30 You know, one of the things that you can do with ancient coins is you can hold the history
0:10:31 in your hand, right?
0:10:33 Ancient coins don’t need to necessarily be in a slab.
0:10:34 You can hold them.
0:10:40 So to me, the natural connection is all of these history lovers who collect something that’s
0:10:47 not related to it, Pokemon, Funko Pops, whatever that is, and try to translate it to connect
0:10:51 their history love to something that they can physically and tangibly hold.
0:10:52 And that’s the point.
0:10:53 Got it.
0:10:55 So there’s already point collectors in the world.
0:10:56 There’s already history lovers in the world.
0:11:02 Like, how can I get at the center of that Venn diagram and help them learn about it?
0:11:02 Right.
0:11:05 There’s tons of dealers that already kind of deal to collectors.
0:11:07 I want to deal to the new collectors.
0:11:09 I want to find new collectors.
0:11:11 So you’re doing the show.
0:11:12 You’re starting to engage in this group.
0:11:16 At what point does the business make its first dollar?
0:11:19 Like, do you have that, you know, first sale story?
0:11:19 Yeah.
0:11:21 So it was surprising.
0:11:27 So really what, like most collectors, your collection turns into your inventory to sell.
0:11:29 And that’s really kind of the thing.
0:11:38 And so I actually opened up a store, and probably two weeks after, I sold Mithridides VI Tetradrachm.
0:11:42 Mithridides VI is famous because he’s the poison king.
0:11:43 There’s a book written about him.
0:11:46 He ingested poison every day for his whole life.
0:11:50 And then when he was tracked down by the Roman army, he tried to kill himself with poison,
0:11:53 and he had built up such a tolerance that he couldn’t.
0:11:55 Sounds like straight out of The Princess Bride.
0:11:57 It’s such a great story.
0:12:00 He fought three wars against the Romans, died with an Amazon woman next to him.
0:12:02 Just a really neat, really neat story.
0:12:08 But I sold his coin, and it was, when they’re really nice, they’re really nice, $12,000.
0:12:10 And it totally caught me.
0:12:12 I had no intention of selling it.
0:12:14 Somebody, I put a price on it, and somebody bought it right away.
0:12:18 I shipped it off to him, and I’d never heard a thing from him since.
0:12:19 Okay.
0:12:21 Was this one of your dads?
0:12:22 How did you come into possession of it?
0:12:24 Oh, I bought it independently on my own.
0:12:26 I found a really good deal.
0:12:28 That’s another great thing about the Facebook marketplaces.
0:12:30 There’s a Discord.
0:12:33 There’s a lot of different places where you can acquire these coins from different collectors,
0:12:35 and sometimes that gives you an advantage.
0:12:39 Having that inside scoop, rather than paying retail like everybody, helps you get a little
0:12:43 bit of margin if you’re interested in selling, which is a helpful use.
0:12:43 Yeah.
0:12:48 Could you tell if it was somebody who was a follower of yours from the YouTube channel?
0:12:50 I mean, it’s only three days into putting up the store.
0:12:55 I don’t know where they came from, but it was probably about the happiest day I’ve ever
0:12:58 had because it was so surprising.
0:13:02 I assume it came from YouTube, one of the few followers at that time.
0:13:02 Okay.
0:13:05 They were from California, so they would have no tie to me directly.
0:13:05 Yeah.
0:13:15 More with Dean in just a moment, including the low-risk way he’s sourcing inventory and
0:13:18 how he puts himself in position to make lots of sales right after this.
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0:15:37 Okay, so almost building your own miniature eBay of sorts or your own mini Facebook marketplace
0:15:39 specializing in this stuff.
0:15:41 And so there’s a sourcing component.
0:15:43 You mentioned, well, I could source on Facebook marketplace.
0:15:48 Like any other places that you like to go to, you know, buy low and then sell high through
0:15:48 your own site?
0:15:53 Yeah, so what I would say is, first of all, for anybody who’s like, I’m going to get into
0:15:57 ancient coin collecting, I’m going to go straight to eBay and buy a bunch of stuff.
0:15:58 Do not.
0:16:02 That’s lesson one of one that I teach on the podcast.
0:16:04 Now, there are great dealers on eBay.
0:16:07 You have to get to know them, but eBay is fraught with fakes.
0:16:12 And so that’s pretty much the starting point, because even as a new collector, I bought fakes on
0:16:12 eBay.
0:16:14 So we steer people away.
0:16:17 There’s a couple of different marketplaces that are great places.
0:16:22 One of the things about ancient coins that people should recognize is that if you buy from
0:16:25 a dealer, they should give you a lifetime guarantee.
0:16:31 Meaning if somebody found out this to be fake over time, you’re able to return it for full
0:16:33 price at any point during your ownership of the coin.
0:16:37 So that’s a steadfast reason why you trust them, right?
0:16:39 And there’s a couple of marketplaces.
0:16:43 One that comes to mind, BeCoins, which is a marketplace for collectors.
0:16:47 They have something like 250,000 people that participate on that website or something.
0:16:52 But that’s a marketplace in which you can try to find and investigate.
0:16:56 There are other companies that just do shows.
0:17:01 And so in that case, these companies are inactive during the non-show time period.
0:17:07 So they will offer or give you an opportunity to sell their stuff while they’re not at shows
0:17:07 and consign.
0:17:09 So you don’t even have to buy the inventory.
0:17:15 So like a drop ship or something like that, there are places within the ancient coin business
0:17:17 that will work with you to do that.
0:17:20 So you don’t even have to do the upfront investment.
0:17:21 Okay, interesting.
0:17:26 So yeah, a drop ship or consignment relationship with other distributors, other dealers, you
0:17:30 could just rip this page out of the playbook and pivot to almost any other different niche
0:17:35 if you have the chops like Dean has to build up your own traffic sources.
0:17:37 You just slap up a page, nobody’s going to find it.
0:17:41 But if you can build up a little bit of an audience and a following and some relationship
0:17:45 and trust building and all this other stuff that’s really hard to do, then you can start
0:17:49 to drive your own traffic and not have to have that upfront inventory risk.
0:17:49 That’s right.
0:17:55 The best recommendation I can give to anyone who’s trying to do this is network, get to
0:17:59 know people in the industry, even if they’re not somebody that you would normally be friends
0:17:59 with.
0:18:05 Always just try to get an understanding, try to get involved because a lot of this stuff people
0:18:09 have tried, a lot of the stuff people have made mistakes on, but a lot of people would
0:18:12 really help you succeed if you gave them the chance.
0:18:16 And I have found that more often than not, that people are willing to do what it takes
0:18:18 to help you get ahead sometimes.
0:18:18 Yeah.
0:18:24 I remember as a kid begging dad to take us to this like baseball card show that was at the
0:18:25 mall at the next town over.
0:18:31 And it sounds like these things are still going on for pretty much any kind of collectible,
0:18:33 but including coins.
0:18:37 And so you guys have just like your own little wing, your own little section of like the general
0:18:40 coin show exhibition hall type of thing.
0:18:42 And here’s my ancient coin people.
0:18:50 So like in a major show like the ANA, which is in Chicago, it’s in Rosemont at their giant
0:18:50 theater.
0:18:51 Right.
0:18:53 So there’ll be, you know, a thousand dealers.
0:18:56 So we’ll be kind of put in the corner.
0:18:59 Ancients are kind of a niche in coins.
0:19:03 So they’re not like upfront or anything like that usually goes to Americans and shipwrecks.
0:19:07 But yeah, we definitely have a section that’s usually by world coins.
0:19:07 Okay.
0:19:11 But I’m trying to bring us to the front because I like us the most.
0:19:13 Okay.
0:19:18 The reason I bring it up is like somebody gave this bit of advice, like if the industry or
0:19:22 the niche is big enough to have its own convention, then it’s big enough, right?
0:19:25 If it has multiple, like, you know, maybe it’s too big, right?
0:19:25 How do you niche it out?
0:19:30 And so it’s interesting to see like, oh no, if we can, and then these types of events attract
0:19:31 buyers as well.
0:19:35 So you’re selling through there, your existing inventory and collection.
0:19:40 So there’s this physical product, you know, buy low, sell high component to the business
0:19:41 that is pretty interesting.
0:19:42 Yeah.
0:19:47 And I will tell you that ancients do only have one show on their own in New York and
0:19:51 the rest of the year, there’s, they’re just a tag along for the main conventions.
0:19:56 So when you’re playing retailer, either through these events or through your own website, is
0:20:00 there, I mean, you’re, you’re dictated by what the market value is and market prices, but
0:20:04 like, is there a target margin that you’re shooting for on each transaction?
0:20:05 Yeah.
0:20:05 Yeah.
0:20:09 So the great thing and the interesting part about ancient coins is American coins, for
0:20:15 those people who know, are very regimented and very detailed collecting.
0:20:17 So they are very specific on grades.
0:20:21 They know exact quantities that were produced, how many are in each grade.
0:20:25 They know a lot and they know how much it costs.
0:20:28 There is no such thing as a price guide in ancient coins.
0:20:28 Yeah.
0:20:31 Well, you’re, you’re kind of building it or you’re, you’re building it as you go.
0:20:32 Right.
0:20:37 And so there, there are certain forums that you can look at that give you auction history.
0:20:42 There’s a couple of different places where you can kind of average out what, what you think
0:20:43 when an auction and stuff like that.
0:20:49 But to me, the, the market is more about what you can get for something, especially in ancient
0:20:53 coins, because a lot of times you’ll have one of only a handful.
0:20:58 So it’s more about how you marry the customer to the product.
0:21:02 In certain instances where it’s just like straight runners, anybody will buy it.
0:21:07 But like, if you found something very specific, like, you know, let’s, let’s say a Jake Paul
0:21:11 or somebody came up to us and said, I want a coin of the Alexander the Great, you know, that’s
0:21:14 certainly something you would do very specific to him.
0:21:16 You try to find something meaningful.
0:21:20 And that’s really the, the great part about it is because there’s so many opportunities for
0:21:24 people to connect, whether it’s through religion, whether it’s through spirituality,
0:21:28 astrological, whatever it is, there’s ways to connect people to these coins.
0:21:33 And so kind of the higher end stuff, I always look to marry to a customer, something that’d
0:21:38 be meaningful to them, something that, that represents something powerful to them.
0:21:38 Okay.
0:21:41 So what I’m hearing is there’s no blue book value.
0:21:45 There is, there is, there’s lots of price elasticity or price flexibility rather.
0:21:46 There is.
0:21:51 And this is another reason why it’s so interesting is because it’s what you get for it.
0:21:52 Yeah.
0:21:56 If you can craft a story, this is another baseball card story related to dad.
0:21:59 You’re looking up at the Beckett magazine to be like, and I’d be like, dad, look, this
0:22:00 one’s worth 15 bucks.
0:22:03 He’s like, you show me somebody willing to pay you 15 bucks for it.
0:22:04 Then you could say it’s 15 bucks.
0:22:05 It’s like, fine.
0:22:08 Just, you know, go around bursting kids’ bubbles all day long.
0:22:09 That’s right.
0:22:11 But yeah, there’s still, baseball cards are still a big deal.
0:22:13 I mean, I like the, uh, what’s it called?
0:22:18 The substantialness, the, the, you know, the heaviness of gold or silver or something about
0:22:18 it.
0:22:19 That’s magical to me.
0:22:19 Yeah.
0:22:23 And people trying to fill out a collection, almost by definition, it has some sentimental
0:22:28 value to them where even you look at some of these, oh, people auctioned off, you
0:22:30 know, a Michael Jordan jersey.
0:22:30 It’s like, that’s right.
0:22:32 Was that worth $3 million?
0:22:36 Well, it was to the person who bought it and they’re hoping somebody else will, will pay
0:22:38 that much down the road or not.
0:22:40 But they’re just like, well, I want to hang this up in my man cave.
0:22:45 One of the things that people really get excited for, and I always caution people against this
0:22:48 is they try to collect every emperor from the beginning.
0:22:50 They think that’s a good way to collect.
0:22:55 I will tell you that over the 1500 years of the empire, it is very hard to collect all of
0:23:00 the emperors, particularly when some of them have died in very short order, pretty much
0:23:02 after they took the crown.
0:23:02 Yeah.
0:23:05 Not a lot of coins were minted in that window.
0:23:07 So go back to the margins.
0:23:09 Like, you know, if you doubled your money, is that a win?
0:23:11 If you 10 extra money, like, is there a sweet spot for you?
0:23:16 For my business, generally, I like to gross margin 30, 40 percent.
0:23:19 That’s just based on my business expertise.
0:23:23 You know, it probably, as I fool with it, it might adjust up or down.
0:23:28 But that’s always kind of where I felt like you take home enough after that to feel good
0:23:28 about it.
0:23:30 So that’s about where I’m at.
0:23:31 Okay.
0:23:31 That’s helpful to know.
0:23:34 Not necessarily trying to hit a 10x home run on these flips.
0:23:35 Oh, no, no.
0:23:38 You’ll sit on inventory forever if you try to do that.
0:23:39 Absolutely.
0:23:39 Okay.
0:23:40 Let’s talk about turn.
0:23:42 What’s the inventory look like today?
0:23:47 Is there a rule of thumb, like, oh, I want to have a two-month supply or something like
0:23:48 that?
0:23:48 Right.
0:23:52 So inventory is a very interesting subject with this hobby because there are certain things
0:23:55 that move quick and certain things that don’t.
0:23:58 I would say that for beginning collectors, I have a lot of packaged items.
0:24:04 So, like, somebody can get a box of four Constantine coins, the whole collector set.
0:24:05 And those tend to move.
0:24:11 And then kind of the single one-off coins tend to move, meaning like a cheapy Constantine-era
0:24:15 coin for $60, it’ll move pretty quickly.
0:24:22 As you start to get into the more expensive silver and gold items, they don’t move as quickly.
0:24:26 So my recommendation to anybody that’s interested in this is start small.
0:24:31 You can definitely make bigger margins on some of the higher-end stuff, but you’re going to
0:24:31 sit on it.
0:24:33 And you’re going to sit on it for a while.
0:24:37 That’s just because this particular buyer has a certain interest.
0:24:38 Maybe they’re Sicilian.
0:24:39 Maybe they’re not.
0:24:41 Maybe they’re from, you know, Macedon.
0:24:41 Maybe they’re not.
0:24:45 There’s a lot of different reasons that people find interest in coins.
0:24:48 But you generally stick to the ones that move.
0:24:53 So, like, Athenian Owl, Alexander the Great, and then some of the package stuff moves.
0:24:57 But then as you get into more, I guess, elite territory, you have to be careful because,
0:25:01 like I said, unless you have a buyer direct, you can sit on it.
0:25:03 And that hurts, especially in a small business.
0:25:04 Yeah, yeah, yeah.
0:25:06 You’ve got all this cash tied up in inventory.
0:25:06 Yeah.
0:25:10 The one thing that I’ve always learned in my full-time jobs is cash is king.
0:25:13 And that’s, you can’t buy more inventory until you move that one item.
0:25:18 And so, you might be inclined to sell something at cost or below to get cash.
0:25:23 And that’s one of the drawbacks of having high-end stuff, is that you still have to have cash,
0:25:24 no matter what, to buy the next thing.
0:25:27 Yeah, this was a huge issue in the car business.
0:25:32 That was my one and only corporate job and going around to these parts departments at Ford dealers.
0:25:36 And, of course, the dealer owner, you know, wants to play this balance of taking care of
0:25:41 their customers, like having that part on hand, but also not having every part on hand.
0:25:44 Because it’s like, well, not anybody’s going to come in and request this thing today.
0:25:50 So, it’s like, you know, this balance of keeping the inventory that turns quickly and all this.
0:25:55 I remember talking with Rob, the flea market flipper, and I was like, how much, you know,
0:25:58 how much stuff do you have sitting in the warehouse or in the storage unit right now?
0:26:02 Like, just waiting to be listed or, you know, waiting to be sold.
0:26:04 And it was hundreds of thousands of dollars worth of inventory.
0:26:08 But it’s like, yeah, you got to, at a certain point, you got to move it and go on to the next,
0:26:09 go find the next thing.
0:26:15 You either got to find a capital investor and prove that you can move material out of fat,
0:26:18 or you’re going to have to fund it yourself, which is really hard and expensive.
0:26:20 Tell me about the YouTube channel.
0:26:24 So, I don’t have the, you know, podcast stats, but I can see from the YouTube channel,
0:26:26 we’ve got 40,000 plus subscribers over there.
0:26:29 But the most popular videos are only like 1,000 views.
0:26:31 So, it’s like, you don’t have to go huge.
0:26:36 Yeah, I feel like because they’re longer, longer form, I do better on shorter videos.
0:26:38 Longer form takes a long time.
0:26:42 And it’s an investment to listen to somebody talk about ancient coins for an hour if you don’t
0:26:45 have anything off, you know, if it’s not a direct tie.
0:26:48 But definitely, when we launch, they definitely come out.
0:26:50 I definitely get a lot of comments and stuff.
0:26:53 But it’s been spread out pretty thinly.
0:26:57 But we’re hoping that we have another real breakthrough coming up here soon.
0:27:02 Like I talked about with networking, you know, the key is to get to know the players in the industry.
0:27:07 I talk to whoever I can to try and figure out how to make this thing work.
0:27:09 Because if you’re on your own, you’re never going to make it.
0:27:11 You got to talk to people.
0:27:13 You got to get to know what works and what doesn’t work.
0:27:14 That’s the key.
0:27:19 Has that been the primary growth driver of the show and the channel is guesting to the extent
0:27:23 that there is like other ancient coin podcasts to go and hang out on or other channels to
0:27:24 collaborate with?
0:27:26 No, but I’m trying.
0:27:31 So, basically, what I’m doing is I’m taking my buddies in the Americans and the world and
0:27:32 we’re trying to combine.
0:27:35 So, there’s a bunch of podcasts on American coins.
0:27:37 There’s a bunch of podcasts on world coins.
0:27:41 So, what I’m trying to do is try to marry those as well.
0:27:46 There’s not like millions of people lining up to watch American coin podcasts, but strength
0:27:50 in numbers, I think, helps us out in this kind of endeavor.
0:27:52 So, I reach out to everybody.
0:27:54 Yeah, yeah, I love that strategy.
0:27:57 If it’s like, hey, you’re talking about, would your audience be interested in one episode
0:28:00 on this divergent thing?
0:28:02 It’s like, it’s on the shoulder of what you’re already talking about.
0:28:04 We can have an interesting conversation.
0:28:09 I mean, that was one of the things that really helped drive growth of the Side Hustle Show
0:28:12 was guesting on all these personal finance podcasts.
0:28:15 Hey, at a certain point, all these podcasts about saving money and budgeting and investing,
0:28:16 there’s only so much you could save.
0:28:18 Why don’t we talk about making more money?
0:28:20 You know, so it was like a natural fit.
0:28:21 Hey, have you done a Side Hustle episode?
0:28:23 Have you done a small business episode?
0:28:26 And so, that was kind of what helped drive the growth of the show.
0:28:29 So, I think that makes a lot of sense in this case, too.
0:28:30 Yeah, and same with history.
0:28:34 I mean, you just got to find stuff that, well, I did a podcast maybe last week with a, it’s
0:28:37 called Antiquity Side Quest or something like that.
0:28:43 It’s just a history podcast, and so they asked me specific questions about history and then
0:28:44 ancient coins and how they tie together.
0:28:49 So, you know, a lot of times I’ll just do these kind of Q&As about ancient coins from people
0:28:51 that like history and want to know about it, you know?
0:28:53 Yeah, no, that makes perfect sense.
0:28:57 Go where the audience already is or go, maybe this is a Charlie Munger thing.
0:28:59 The first rule of fishing is fish where there’s fish or something.
0:29:01 It’s like, oh, okay, this works.
0:29:06 More with Dean in just a moment, including his quest to be the quote-unquote tallest in his
0:29:10 niche, his paid newsletter strategy, and what he might do differently if he were starting
0:29:11 over from the beginning.
0:29:14 All that and more coming up right after this.
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0:31:36 Anything going on on the social media side?
0:31:38 Did you end up starting your own Facebook group?
0:31:42 You know, I see there’s some of the short form stuff that’s getting traction.
0:31:43 What else is going on there?
0:31:49 I’m on every platform except X, and as I get more time, I’ll dedicate more specific videos
0:31:52 to like TikTok where they’re specific to TikTok.
0:31:54 But yeah, I’ve been covering all the socials.
0:31:58 I have, as an entrepreneur, I’ve experimented going out.
0:32:03 I have outsourced social media for periods of time and then insourced because you’ll find
0:32:07 that of all the things you’re doing, that probably takes more time than any of it, whether it’s
0:32:09 the editing or anything like that.
0:32:13 And so you only have so much time and you’re probably not a professional editor, so you probably
0:32:13 have to outsource.
0:32:19 But to me, in this world, and that’s why I jumped on Ancient Coins is because the social
0:32:23 media presence is so low that it’s easy to become the tallest person.
0:32:28 So that’s why I’ve been gung-ho trying to get the message out there because I’m the one.
0:32:31 There’s other people that are trying, that’s for sure.
0:32:36 But that’s my main goal is to try to get as much exposure as possible and hopefully make
0:32:37 some sales in between.
0:32:38 Yeah, that’s an interesting line.
0:32:39 I want to pause in that.
0:32:43 Pick a niche where it’s easy to become the tallest person or the most visible person.
0:32:44 Yeah.
0:32:48 And you might find you’re going to have to go one or two layers deeper than what you initially
0:32:48 thought.
0:32:49 That’s right.
0:32:53 But if you can be, like John Lee Dumas has talked about being the best, worst, and only
0:32:58 in your niche, you know, when he started the worst daily entrepreneur podcast, but also
0:32:59 the best because he was the only game in town.
0:33:01 I’ll give you a listener’s idea.
0:33:03 I can tell you that there’s nobody doing stamps.
0:33:06 If you want to be the first, do stamps.
0:33:07 You’ll be the first one.
0:33:08 Do the same thing for stamps.
0:33:09 Okay.
0:33:09 Okay.
0:33:10 It’s a challenge.
0:33:14 That hobby is very, it’s really gone small.
0:33:17 I mean, it’s real small now, but it’s kind of like this.
0:33:18 Maybe you can bring it back.
0:33:19 Maybe you can make it survive.
0:33:20 Yeah.
0:33:24 Niche within a niche of collectibles, ancient stamps, probably not so much a thing.
0:33:25 Those didn’t survive.
0:33:30 But the one thing I will tell you is, is that with these hobbies and, you know, having experienced
0:33:32 it firsthand, there is a generational gap.
0:33:35 People from my era kind of moved on and didn’t do that.
0:33:38 So there’s like a whole series of people that are aging out of this interest.
0:33:43 And so the, the kind of key people in this industry are aging out.
0:33:47 So that not only gives you the opportunity just in social media, because that’s not what
0:33:50 they’re into, but also in the sales because they’re aging out.
0:33:54 And I, this can’t be the only opportunity like that for sure.
0:33:57 Do you see that as a, as like a longevity risk for the business where it’s like, just
0:34:01 I’m riding this like slow downhill wave in interest?
0:34:02 No, I want to turn it on its head.
0:34:07 I don’t want it to die because history is the most important thing to me.
0:34:11 And I feel like this is an area where I can plant my flag and hopefully prevent that kind
0:34:12 of thing from happening.
0:34:17 Because so much of this is in people’s heads, this history, this great knowledge.
0:34:19 And as time goes on, those people disappear.
0:34:22 And so it’s, it’s incumbent on us to keep it alive.
0:34:23 Yeah.
0:34:25 The only fear there is, oh, let’s be an equal.
0:34:30 I want to ride a, a trend that’s increasing versus one that fewer and fewer people are looking
0:34:31 for.
0:34:31 Yeah.
0:34:32 Yeah.
0:34:33 Well, we will, we’ll make it increase.
0:34:34 That’s the point.
0:34:35 Let’s make it increase.
0:34:36 With a subject like this.
0:34:38 I don’t know how you cannot.
0:34:42 That’s why it’s so crazy to me because as somebody who’s been involved in collecting
0:34:46 for so long, there are certain things that are like, yeah, that makes sense.
0:34:47 And this makes sense.
0:34:54 It just makes anybody that loves history, who loves iconography, who loves any of this stuff,
0:34:59 all the money that Americans spend on collecting to me could be almost better served in this area
0:35:02 because it’s such a fascinating and incredible area.
0:35:04 I mean, it touches everything.
0:35:05 Architecture.
0:35:07 It’s just everything.
0:35:07 Sorry.
0:35:08 I get excited.
0:35:10 No, that’s, that’s okay.
0:35:11 That’s why, why you’re the guy.
0:35:13 You doing anything to collect emails for this?
0:35:14 Oh yeah.
0:35:15 Yeah, absolutely.
0:35:20 And I do send out a subscription email and I do offer a subscription service because some
0:35:22 material I get is first to the market.
0:35:26 And so it gives collectors, particularly high end stuff and opportunity.
0:35:33 So that, that’s another avenue that I’ve experimented with or trying because the demand for high end
0:35:35 goods that are hard to find is pretty high.
0:35:39 So that’s, that’s an opportunity that I saw in that field.
0:35:40 We’ll see how that plays out.
0:35:40 Sorry.
0:35:45 So there’s, there’s a free email newsletter and then there’s like a paid tier, like a subscription
0:35:47 notification service.
0:35:47 Yep.
0:35:54 And so I, uh, I get a occasional group of 10 or 15 hard to come by coins and I’ll release
0:35:58 them to the subscription for service first before I release them to the general public.
0:36:01 So they get advanced notice because some ancient coins are so desirable.
0:36:03 They don’t even last one second on the website.
0:36:10 There are people that will fly halfway across the country to find a specific coin that day.
0:36:13 I mean, they’re very passionate about it for sure.
0:36:13 Yeah.
0:36:18 If you can find such a passionate audience to serve, I think that’s an interesting place
0:36:18 to be.
0:36:21 How much do you charge for the subscription or the notification service?
0:36:24 I do $9.95 a month or all at once.
0:36:26 I also include a discount in that.
0:36:28 So that way you make it feel like it’s worth it.
0:36:33 So I give you a discount over all your purchases, but it’s nice to have the advanced cash, but
0:36:38 you just have to make sure that you come through on the subscription side or people will get upset.
0:36:41 I’m sure if they get nothing in return for their expense.
0:36:44 So that’s probably something you have to pay close attention to.
0:36:45 Yeah.
0:36:47 How many takers on that?
0:36:53 A handful so far, but I just released my second list of 20 coins to the public to let them
0:36:54 know what’s available.
0:36:57 So hopefully I’ll see some subscribers after that.
0:36:57 Yeah.
0:37:00 This is always the, what do you keep behind the paywall?
0:37:03 How do you give people a sneak preview without giving away everything?
0:37:08 Or you’re like, if you like more of that, then come on in and pay for it.
0:37:10 Well, and it’s hard when you, it’s a side hustle, right?
0:37:14 Because then you not only have a regular social media, but then you have a secondary social
0:37:18 media where you have to keep those people who are paying happy on top of it.
0:37:20 You know, that’s additional, but it’s worth it.
0:37:21 I think.
0:37:22 Yeah.
0:37:24 This is an interesting, the paid tier.
0:37:29 We’ve done episodes on paid newsletters and it is like, there’s this element of curation.
0:37:33 Like that’s the value add in a lot of cases where it’s like, let me filter out everything,
0:37:37 all the, all the noise for you and just send you the signal.
0:37:40 And it’s like, Hey, look, I’m, I’m Dean.
0:37:41 I’m the ancient coin guy.
0:37:43 And here are my 10 best finds of the week.
0:37:46 Or here’s something unique that, that we managed to source.
0:37:47 That’s right.
0:37:47 Yeah.
0:37:51 And I’m going out and hunting these down in advance so that nobody else in the marketplace
0:37:52 can get them.
0:37:56 That I think adds value because most people will buy the higher end stuff.
0:38:00 It shows, uh, but if they don’t go to shows or they don’t go to all of them, they miss
0:38:01 and they miss a lot.
0:38:07 One of the guys that I’ve worked with sells out like 80% of his stock when he comes in and
0:38:12 people will fly in the day before just to see what his stock is before the show, get a pre-screening.
0:38:15 So that’s how popular that stuff is, you know?
0:38:19 And do you find you have sellers now reaching out to you directly because they know you can
0:38:19 move it?
0:38:20 Yep.
0:38:20 That’s right.
0:38:22 That’s another great aspect of it.
0:38:27 So, so if they find somebody that’ll sell stuff for them, you’ll find that you’ll get more
0:38:30 inventory than you won’t know what to do with, but you don’t have to buy it.
0:38:30 Right.
0:38:31 And that’s the best part.
0:38:35 The, the, the, the expense on your side can be really challenging.
0:38:39 So if people are interested in signing to you, that’s, that’s a good sign.
0:38:39 Yeah.
0:38:41 No, this is, it’s really interesting.
0:38:42 It’s ringing bells.
0:38:46 We had a woman who was, she became known as like the go-to person for this like collectible
0:38:47 doll.
0:38:50 I forget the brand, but that was, that was her business.
0:38:56 I, if you have these dolls, I’ll sell them for you on eBay and send you the 70% and I’ll take
0:38:57 my 30%.
0:38:59 It was, it sounds very similar.
0:39:01 Like if you have these ancient coins, I’ll help you sell them.
0:39:04 I’ll help you monetize them and I’ll send you your percentage.
0:39:04 That’s right.
0:39:06 Yeah, that’s right.
0:39:07 It works really well.
0:39:10 What’s the email service that you’re using for that email list?
0:39:12 I have everything through Squarespace.
0:39:17 So then I have my email service through that domain, which I will tell you, you know, as even
0:39:21 as somebody who’s done a few podcasts, having your own domain, your email address with your
0:39:24 own domain probably makes you look a little bit more official, I think.
0:39:25 Oh, for sure.
0:39:26 In some cases.
0:39:26 Yeah.
0:39:28 So I recommend that.
0:39:28 It’s cheap.
0:39:32 And Squarespace is running the e-commerce side of Kinzer Coins too.
0:39:36 I found that I was pretty able to make a pretty nice website without trying really, meaning
0:39:38 I didn’t need a whole lot of education beforehand.
0:39:43 It took me three hours to put together a workable website that, yeah, that’s great.
0:39:47 I mean, and it’s so, it’s cheap, you know, we’re, we’re old enough to remember when people
0:39:51 would spend a month putting together a website and spend a hundred thousand dollars or whatever.
0:39:53 And now it’s so cheap.
0:39:53 Yeah.
0:39:54 Yeah.
0:39:55 These tools, these tools make it easy.
0:39:56 So that’s good.
0:40:01 What is like starting over a couple of years into this Kinzer Coins journey, anything you
0:40:03 would do differently to accelerate the journey?
0:40:04 Yeah.
0:40:09 So despite all my business knowledge of working my full-time day job, I didn’t figure out
0:40:12 the consigning thing until I had invested my own money.
0:40:16 So I will reiterate that for those of you who want to start a business.
0:40:19 It’s better to spend other people’s money than your own.
0:40:22 And that can kind of help, especially as you’re launching.
0:40:27 Now, if you make enough profits spinning, then you can really start to buy some fantastic
0:40:31 inventory, but I would not invest all of my money in my own stuff.
0:40:34 I would try to figure out ways to work with people to get that.
0:40:38 I think I probably would have not spent as much money on ads.
0:40:43 I might’ve gone with an outsource option or I might’ve been just more thoughtful about
0:40:43 it.
0:40:47 Both are spends when you don’t really have a lot of spend in the business.
0:40:53 Those are probably your two biggest and they probably are, if they’re mismanaged, you can
0:40:54 go underwater pretty quick.
0:40:55 Yeah, totally.
0:40:55 Yeah.
0:40:55 Yeah.
0:40:57 Keep things lean for sure.
0:40:57 Yeah, that’s right.
0:41:00 And there’s people out there that are willing to help.
0:41:02 Like I mentioned before, you just got to find them.
0:41:05 And if you don’t know who they are, ask the person that does, you know, I mean, you never
0:41:07 hurt anybody’s feelings by asking questions.
0:41:08 That’s right.
0:41:10 People love to help you out.
0:41:11 What’s been the biggest surprise?
0:41:12 It’s harder than I thought.
0:41:14 That’s shameful as I say that.
0:41:17 It is hard, but not in a way that you can’t do it.
0:41:20 It’s just, it’s, sometimes it’s like, oh man, I wish this would work.
0:41:23 And sometimes it doesn’t, but it makes the wins even that greater.
0:41:24 So it’s a challenge.
0:41:25 It’s a battle, right?
0:41:30 You, you battle in your head, you battle these ideas, but I mean, it’s so fun.
0:41:34 I mean, you know, I get a lot of satisfaction out of ancient coins because it lights people
0:41:39 up in a way that most things don’t, but connecting people to stuff that they really want is very
0:41:39 satisfying.
0:41:44 You know, to me, I love that so much that, that it’s really worth it.
0:41:48 I mean, you know, I wish I, I wish I had thought a little bit more about that at the beginning,
0:41:50 but I think that’s the best part, honestly.
0:41:54 There’s part of me that wants you to be like, oh, it was super easy.
0:41:57 I put up these three videos and boom, boom, boom, you know, I was off to the races.
0:41:58 I wish.
0:42:02 So there’s another part of me who really appreciate you sharing, like, look, it’s work.
0:42:03 It takes real work to build a business.
0:42:04 I’ll decide.
0:42:04 There’s both sides of it.
0:42:05 All right.
0:42:06 Where do you want to take it?
0:42:08 What’s next for the business this year?
0:42:11 I would like to partner at the very least with a museum.
0:42:13 I hope that I get the opportunity.
0:42:15 I’d like to do another event.
0:42:21 We had an event last week at South by Southwest where I was a pop-up, believe it or not, coins
0:42:23 at a pop-up at a cool hangout.
0:42:25 But the host wanted to try it, and I think it was successful.
0:42:27 I may do that again.
0:42:32 I think there’s an event in Miami at the F1 that I might go to to do something like that.
0:42:34 But more outreach, more ideas.
0:42:37 I’d like to, you know, cross six figures.
0:42:41 Can I pause you and say, like, what do you mean by in-person events?
0:42:44 Like, how do you get on the agenda at South by Southwest or something like that?
0:42:47 Well, that’s networking.
0:42:52 I got found and was put on a podcast, and then I’ve just been harassing them until they make
0:42:54 me a part of the traveling team.
0:42:57 And that’s really what it was.
0:42:58 Okay.
0:43:00 So what did that pop-up look like?
0:43:00 What did you do?
0:43:04 Oh, I created a—there was a little space, so I put up tables.
0:43:09 I invited two of the premier coin dealers down to meet me there, and we created a space with
0:43:13 ancient coins, with Japanese samurai coins, and with shipwreck coins.
0:43:18 So people would come in, and they would be surprised, and what is this?
0:43:21 And then we would tell them stories about stuff, and people ate it up.
0:43:22 They loved it.
0:43:27 You know, we have a series of coins that are from Bactria, which was modern-day Afghanistan
0:43:28 and Pakistan.
0:43:32 We had a lot of people from Pakistan that came there and were super interested in those coins.
0:43:36 You know, a lot of people who were interested in Julius Caesar and stuff like that.
0:43:41 But it’s an interesting place, but people found it very comfortable and really got into it.
0:43:43 So that’s another opportunity, right?
0:43:44 Yeah.
0:43:49 Is that something you sell tickets to, or this is just like, how do I piggyback on—there’s
0:43:53 already thousands of people at this event, so I just want a little table on the side to
0:43:54 try and bring a few people into my world.
0:43:55 Be a vendor.
0:43:56 Talk to people.
0:43:57 That’s how you get them in the door, right?
0:43:59 You got to reach out and talk to people.
0:43:59 Okay.
0:44:01 And then you mentioned museum partnership.
0:44:02 Do you have anything specific in mind for that?
0:44:10 Well, a friend of mine did a get-together with the Chicago Art Museum where they did sculptures
0:44:11 and stuff like that.
0:44:16 And that’s a space that I think is a really neat collaboration because a lot of these
0:44:18 museums have—they have their own collections.
0:44:20 They have their own ancient pieces.
0:44:25 And to tie that together with collectors, I think, is a valuable experience.
0:44:30 So I would like to be in the business of trying to arrange those kind of things to get people
0:44:32 in and interested in the hobby.
0:44:34 It’s just another avenue in which you can.
0:44:39 You know, obviously, like at the Met, they have an incredible coin collection.
0:44:42 Some of the most rare coins on display.
0:44:45 Well, they obviously have coins that are not on display.
0:44:49 And so there’s opportunities, you know, to showcase some of the stuff they don’t have
0:44:54 on display or do a study based on something that they’ve found.
0:44:56 Just a lot of—it’s neat.
0:44:57 Part of history, right?
0:44:57 Okay.
0:45:00 That gives a little more context of like, well, no, no, no.
0:45:02 People might already be on this museum’s mailing list, for example.
0:45:04 Well, they’re obviously into history.
0:45:09 If I could get the museum to promote a little pop-up, even if it’s just like an educational
0:45:14 talk on like 10 stories around coins that are still in existence today, like that makes
0:45:17 a lot of sense as a way to get in front of more of the target audience.
0:45:18 So very cool.
0:45:24 Ancient coins touch a lot of places because so much of the work is handmade and it’s a sculpture,
0:45:29 essentially, that’s made and made by some of the artists that made the same—made the
0:45:30 sculptures back in that time.
0:45:32 just incredible artists.
0:45:38 So it falls in really a really neat area of art and, you know, numismatics or the collection
0:45:39 of coins.
0:45:41 So it brings an eclectic group for sure.
0:45:47 The Ancient Coin Hour on YouTube and, of course, the Ancient Coin Hour podcast.
0:45:49 You can find Dean over there.
0:45:51 KinzerCoins.com is your home base.
0:45:56 If you want to see what kind of coins are available and at what prices and the stories behind those,
0:45:58 cool website to check out.
0:46:02 Let’s wrap this thing up with your number one tip for Side Hustle Nation.
0:46:05 My number one tip is network, network, network.
0:46:06 Get involved.
0:46:07 Get to know people.
0:46:11 Try—don’t isolate yourself because you’ll do better in business if you connect to people
0:46:16 and connect to Nick and connect people in the Side Hustle Nation, all that kind of stuff.
0:46:17 There are people out there to help you.
0:46:18 It’s so true.
0:46:22 This shirt is a little bit faded, but, you know, it says, you know, collaboration over competition
0:46:25 and I think that’s the name of the game here.
0:46:25 It’s like, how do you—
0:46:26 100%.
0:46:28 How do you become the tallest in your space?
0:46:32 Well, you know, he’s going to have to stand on the shoulders of others if that’s eventually
0:46:33 where you want to go.
0:46:33 That’s right.
0:46:36 A couple takeaways from me before we wrap.
0:46:40 Number one, you know, we often talk about filling demand versus creating demand.
0:46:44 It sounds like in this niche, there’s a little bit of market education in creating demand and
0:46:48 that fuels the content and the interest and so it plays really nicely.
0:46:54 We talked about going where the buyers are, fish where there’s fish, you know, to these coin
0:46:57 shows, these collectible shows, even to these museums or other events where there’s
0:47:01 thousands of people, like, how do I get, you know, on that agenda?
0:47:05 And even if it’s just a small display or an educational talk, talked about lots of different
0:47:10 ways to monetize the business through the consignment sales, staying lean, how do we do
0:47:11 this in a low-risk way?
0:47:17 And then the old JLD line about being the best, worst, and only, like, how do we niche down to
0:47:19 be the go-to voice in a space?
0:47:22 I think that’s something that Dean is doing really well.
0:47:22 Thank you.
0:47:25 If you are new to the show, thank you for tuning in.
0:47:25 Welcome.
0:47:30 We’ve got hundreds of actionable episodes, just like this one, in the archives to help
0:47:30 you make some more money.
0:47:36 If you’re wondering where to start, I want to invite you to build your own personalized playlist
0:47:37 at hustle.show.
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0:47:56 whatever it is.
0:48:00 Again, that’s hustle.show for that custom curated playlist.
0:48:03 Big thanks to Dean for sharing his insight.
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0:48:12 in one place.
0:48:15 Thank you for supporting the advertisers that support the show.
0:48:16 That is it for me.
0:48:18 Thank you so much for tuning in.
0:48:21 Until next time, let’s go out there and make something happen.
0:48:22 and I’ll catch you in the next edition
0:48:23 of the Side Hustle Show.