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For broadcast on CBS Radio Network stations
August 29-30, 1998:

So you want to be a stamp dealer.

The Stamp Collecting report, I'm Lloyd de Vries.

I think at some point, EVERY collector wants to buy and
sell. It looks like fun -- and it often is.

But it's not very easy to make a living at it. Most of
the dealers you see at shows are subsidized -- by
full-time jobs, pensions, spouses...even inheritances.

Since there's no licensing or training required, anyone can
be a stamp dealer. Many have no business experience or
knowledge, and actually are selling their stamps at a loss
-- when you figure in overhead.

Selling off your collection as a dealer usually leaves you
stuck with the least-desirable material -- and then what?

If you really want to be a stamp dealer, full- or
part-time, be professional: Keep good records...keep
track of your overhead costs...and make sure you've got
enough capital to build your stock and carry you while
you build a clientele.

And study small business. Former full-time dealer Peter
Mosiondz (MOTIONST) has written a book, "Successful Stamp
Dealing," from Krause Publications. List price is
thirteen dollars.

And that's stamp collecting this week.

I'm Lloyd de Vries, CBS News 

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