I went out with a friend the other night and we met up with a group of his friends I had not met before. Somehow the conversation moved to the topic of college. I ended up paying for a good portion of my college with baseball cards I had collected during junior and senior high school, and this information usually grabs the attention when the topic of college and paying for it comes up, b...
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Damn, I wish I had been more creative in college and then I wouldn’t have all these student loans!
Genius! Sometimes the simplest of things are the sweetest
Petar
VistaJuice.com
Pure genius! Just goes to show, where there’s a will there’s a way. Early entrepreneuring at its best.
This would make an excellent part-time job. I think I might give it a try.
I think this idea works best for someone who lives in a fairly trusting community. I just can’t imagine my urban neighbors letting any strange kid into the house to count coins (no matter how harmless he looks).
Plus in urban centers you tend to be more anonymous, so taking coins to a bank or to a public change counting machine is not a bit deal.
A possible way to make this work in my area would be to contact local senior centers and arrange a “coin counting/exchanging” day. I can see Seniors who rely on public transportation and who have accumulated a lot of coins more willing to bring them to an event like this rather than to the bank.
Boston Gal: Agreed. But that’s where the magic of panhandling comes in.
Quick question: what were the coins that were worth over their face value?
Quick question: what were the coins that were worth over their face value?
He simply said that in the big jars, there were often older coins mixed in with the rest that were worth more than face value. We never got into specific coins he found, although he said he did come across $100+ coins from time to time.
I think what is not being included in this write up is the labor cost. The time, effort, gas to do the exchanges and of course there is zero mention about the sheer effort to go through each coin to determine potential value. It would take literally hours to go through a 5 gal water bottle of loose change. I can see how this could pay for college but at what expense. No life? No sleep? all for a few coins worth a couple of bucks? I really have a hard time grasping this from a labor effort.
REPLY TO JOEY’S COMMENT
..(I see a professor grinning right now). To do this when one is now a professional would not be laobr-cost effective…
Indeed, the labor cost must’ve been high. However, it was a story about a college kid without any money. As we all know, college kids do SLAVE labor
Great, when can he come and count my coins?
Jeffery,
That is a good idea. not sure how much time it takes the guy to find the valuable coins…that should be taken into consideration – but beer money does tend to take second fiddle to time involved.
My son collects aluminum cans. He has three streets and collects 300-400 cans per week which works out to $8-$9/week, every. Takes him about an hour. Not bad for a youngster whose allowance is $7 per week.
Dave
Well, I would TELL everyone that any coins of value I would exchange for REGULAR coins, and that I keep any valuable coins. By switching the valuable coins for ordinary coins, this could be considered conversion (stealing) by a court. Yikes!!!
So, how and where did he sell the coins he found. I know in theory it would work, but how do you then sell them?
So, how and where did he sell the coins he found. I know in theory it would work, but how do you then sell them?
He said he originally had an arrangement with a local coin dealer and did some selling on eBay in their early days.
To me this sounds like scamming and taking advantage of elderly/unknowing people, unless of course one would split the value of the rare coins. Just my 2 cents (bad pun, I know).
I don’t see this as stealing or scamming. Coinstar machines and banks do not inform you if you are exchanging a rare nickel, or even warn you that you might have any!
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It does seem labor intensive and you have to have a trained eye as you sort through all those coins.
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