The Side Hustle Show - Episode 668: How I Built an $80k/year Side Hustle in an Obscure Niche
Release Date: April 21, 2025
Host: Nick Loper
Guest: Dean Kinzer, Founder of KinserCoins.com and Host of The Ancient Coin Hour
Introduction: Turning a Niche Hobby into a Lucrative Side Hustle
In Episode 668 of The Side Hustle Show, host Nick Loper welcomes Dean Kinzer, an enthusiast who transformed his passion for ancient coin collecting into a thriving side business generating $80,000 annually. Dean shares his journey, offering actionable insights into building an audience, establishing trust, and monetizing an obscure hobby.
Nick Loper [00:01]: "Today's guest built an $80,000 a year side Hustle around a fairly obscure hobby."
Building the Foundation: From Personal Interest to Business
Dean attributes his foray into ancient coins to his father's legacy as a coin and baseball card dealer. After his father's health declined, Dean inherited a collection, sparking his interest in ancient coins' historical significance beyond mere collectibles.
Dean Kinzer [00:56]: "I couldn't just sell this. This is 2,000 years old. It means something."
Recognizing the lack of accessible information for American enthusiasts, Dean aimed to make ancient coins relevant and engaging for a broader audience.
Diversifying Revenue Streams: Sales, Podcasting, and Auction Representation
Dean's business model is multifaceted, encompassing:
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Retail Sales: Through his website, KinserCoins.com, Dean sells a variety of ancient coins, ranging from affordable bronze pieces to high-end collectibles.
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Podcasting and YouTube: Hosting The Ancient Coin Hour on YouTube and a dedicated podcast, Dean educates beginners, builds trust, and drives traffic to his sales platforms.
Dean Kinzer [03:04]: "I created the podcast for beginning collectors so that they can understand what ancient coins are about."
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Auction Representation: Dean assists collectors unfamiliar with the auction process by representing them, ensuring they obtain desired coins at optimal prices for a small commission.
Dean Kinzer [04:12]: "I will represent them at the auction either in person or online to help them get that at the best possible price."
Audience Building: Leveraging Social Media and Networking
Dean emphasizes the importance of networking within specialized communities. Joining a Facebook group with 10,000 members allowed him to connect with like-minded individuals and industry experts, laying the groundwork for his audience.
Dean Kinzer [02:13]: "I started connecting and really the journey began as soon as I connected to people on Facebook."
Collaborating with his guest host, Josh Benevento, Dean produces content that bridges gaps between technical expertise and engaging storytelling, attracting a diverse audience interested in history and collectibles.
Overcoming Challenges: Sourcing Inventory and Managing Cash Flow
Dean discusses the complexities of sourcing authentic ancient coins, particularly avoiding marketplaces like eBay, which are prone to fakes. Instead, he recommends specialized platforms like Bcoins and building relationships with reputable dealers.
Dean Kinzer [15:49]: "Do not go straight to eBay and buy a bunch of stuff. There are fraught with fakes."
Managing inventory presents another challenge, especially with high-value items that may linger in stock. Dean maintains a balance by focusing on items that move quickly while cautiously handling premium pieces.
Dean Kinzer [23:12]: "I like to gross margin 30, 40%... that's where I bought where I'm at."
Marketing Strategies: Content Creation and Strategic Collaborations
Dean leverages his YouTube channel and podcast to educate and engage his audience, positioning himself as the go-to expert in ancient coins. By featuring interviews with authors, auctioneers, and dealers, he provides comprehensive insights that cater to both novices and seasoned collectors.
Dean Kinzer [07:59]: "We bring in authors, people that own auction companies, people that own dealerships, so they can explain their perspective."
Collaborating with history podcasts and engaging in niche-specific forums further amplifies his reach, tapping into existing audiences passionate about history and collectibles.
Monetization Tactics: Subscriptions and Exclusive Offers
To diversify income, Dean introduces a paid subscription service offering early access to rare coins and exclusive discounts. This model not only generates recurring revenue but also fosters a loyal customer base.
Dean Kinzer [35:35]: "I do 9.95 a month and include a discount on all purchases to make it feel like it's worth it."
By providing tangible value through exclusive offerings, Dean enhances customer retention and satisfaction.
Lessons Learned: Importance of Networking and Lean Operations
Reflecting on his journey, Dean highlights critical lessons:
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Network Extensively: Building relationships within the industry is paramount for sourcing inventory and gaining support.
Dean Kinzer [46:02]: "My number one tip is network, network, network."
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Keep Operations Lean: Avoid excessive spending on ads and focus on sustainable growth through proven channels.
Dean Kinzer [40:03]: "I might have gone with an outsource option or been more thoughtful about it."
Future Plans: Expanding Reach and Preserving History
Dean aims to partner with museums and host in-person events to further promote ancient coin collecting. By integrating educational initiatives with his business, he seeks to preserve and revitalize interest in this historical niche.
Dean Kinzer [42:37]: "This year I would like to partner at the very least with a museum."
Conclusion: The Power of Passion-Driven Entrepreneurship
Dean Kinzer's story underscores the potential of transforming a deep-seated passion into a profitable side hustle. Through strategic networking, diversified revenue streams, and a commitment to education, he has carved out a successful niche in the ancient coin market.
Dean Kinzer [46:17]: "There are people out there to help you."
Key Takeaways:
- Fill and Create Demand: Educate your market while fulfilling existing needs to build a strong customer base.
- Network Strategically: Engage with industry communities and leverage collaborations to expand your reach.
- Diversify Revenue Streams: Combine sales, content creation, and specialized services to maximize income.
- Manage Cash Flow Prudently: Maintain a balance between inventory investment and liquidity to sustain business growth.
- Leverage Niche Expertise: Become the authoritative voice in your niche by providing valuable, targeted content.
For aspiring side hustlers, Dean Kinzer’s journey offers a blueprint for turning unique interests into sustainable businesses through dedication, strategic planning, and leveraging community support.
Connect with Dean Kinzer:
- Website: KinserCoins.com
- YouTube: The Ancient Coin Hour
- Podcast: The Ancient Coin Hour
Note: This summary excludes advertisements, intros, outros, and non-content sections to focus solely on the substantive discussions and insights shared during the episode.