I Came From A Different Generation...

Rather than continue on with another thread in which I am losing ground, here is my own...I'm 61 and guess I came from a different world it seems. "A penny saved is a penny earned". Yes, even though my back is killing me I will still stoop to pick up a wayward coin, throw it in the pickle jar and wait until I have enough to make a roll. I can always wash my hands afterwards. But what I do not understand is why someone would think of not taking the time or it not being important enough to card stray proof coins and try to sell them. Say you are making a set of the best by breaking down proof sets. Would you just toss the ones that don't make the grade into circulation? Even common cents and nickels in PF 65 have a fifty or sixty cent value. I do not come the throw away everything generation as I feel there is value in everything until the point comes when I cannot re-use it or sell it. Even then my un-needed items go to Habitat or the Goodwill for re-cycling. What say you all? I can take it, my shoulders are still pretty broad.

 

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There are many sellers that still break down proof or uncirculated sets and sell off the ones they don't keep or send off to grading. Some even keep them in the cellophane or plastic and cut around it.

I'm like you though. I will always go to pick up a stray coin up off the floor... unless it's in mud or gunk. Even in those cases though I will still bend over to see if I can read the date. If the coin is not worth more than face I eventually end up spending it or rolling it up and taking it to the bank. The only way I keep a common coin worth only face is if it fills a slot in a folder.

 

I still have duplicate proof coins in books, boxes, tubes, etc. that I don't need, but I would never, never just spend them. I just haven't found the right person to give them to.

Chris

 

Me, too! Heck, I've even put bags of groceries down to pick up a coin.

Chris

 

I would spend them and be done with it for sure.

I guess shops could get that value maybe, I don't see any demand in the shops or shows I visit.

Lets put this another way, you have a 1000 1c proof and 1000 5c nickel proof. You put them in 2x2s that cost 2c. You've now spent 40 dollars on 60 dollars face value. That's 2/3rds of face value invested in 2x2s alone and we haven't even scratched the cost of labor. This doesnt even begin to account for the initial investment so now you HAVE LOST MONEY on their purchase unless it was for face.

Now say you spend hours and hours getting them ready, how often to they actually sell? You're probably lucky to make 30 dollars at the end of the year if you even broke even before the cost of labor depending on your market.

Businesses just flat out cant survive like this. Its not a wasteful or not generation its just simple economics and business models. If you're spending hours a day prepping things you MAY make a dime off of, save your money and close up shop right now because it will not last in all honesty.

 

I think you're wrong. If you only want $30 for 1,000 proof nickels, I'd take 100 tubes of them, and I'd even pay you for the tubes.

Chris

 

I said make, aka profit when its said and done. If you want to spend 30 hours 2x2ing things you'd be lucky to make a dime of of each you wont be open long.

 

I'm just quoting your numbers. I didn't say anything about 2x2's. It takes about 5 seconds to put 40 in a tube. That's a little over 2 minutes for 1,000 coins.

What other reasons do you have for just spending them?

Chris

 

We live in a world of waste. We are all guilty of it. Most a lot more than others (including me). If we had to live with that waste and see it first hand everyday, there would be a different point of view.

Sorry, I took it from a coin issue to something broader. My apologies.

 

Labor/Time cost. Takes time to take them all out and sort. A 50 cent tube or even 25 cent tube is a large percentage of 2 dollars face value that costs me hours and hours if I'm the dealer. I'd value my time over minimum wage personally and spending hours to make a few bucks doesn't keep the doors open

 

For years I found money on the ground because I had unstable ankles (basketball injuries before the days of decent shoes). I had to constantly be looking down so I didn't twist my ankle/fall from a small pebble. I saved every one of those coins and have quite a pile. Even after having both ankles repaired, I can't break myself of the habit of looking down; now, my daughter and I have a contest to see who can find the most money on the ground each calendar year. I ALWAYS pick up coins.
Steve

 

I already said I'd buy the tubes. Now, you're bordering on making excuses just because.

Chris

 

Are you a customer I have a history with? If so sure Ill go out of my way.

Other than that not worth the time. 40 nickels is 40 proof sets with multiple coins to deal with. Factor in the time i spend the shipping and the coins you wont buy for the buy price and that dealer is losing money or barely making anything.

Put some rolls together yourself as an experiment to see how easy it is if you don't believe me.

You seem to have turned this into a very specific one on one instance instead of how it works in a broad trend.

 

I've had plenty of past experience. Let's put it this way, I think your business model leaves a lot to be desired. With your attitude, how do you expect to grow your customer base? Do you have a sign on your door, "If you aren't going to spend $1K, don't bother wasting my time!"

I didn't turn it into anything. I just expressed my disagreement and you keep coming back for more.

Chris

 

While you are right that from a business perspective it doesn't make sense, I think the others are talking about as a side thing. I'm pretty sure everyone here collects as a hobby. So the mindset of the hobby collectors here is, "hey if it's worth more than face, even by just a fraction, why throw it away?". Not the mindset of, "how can I maximum profit and make multiples off this?". Such as you should be thinking if you're running a business.

 

Not even close. That said if you want to lecture me for not losing money putting together proof rolls Id lose money on for you as a customer I don't know, well Ill chance you're not a big spender anyway.

Are coin people stupid as a group myself included? Not being mean just honest.
As an example we complain about EVERYTHING. WHY this that bla bla bla then wonder why shops go out of business and complain theyre arent stores......

Oh without question. The initial conversation inspiring this thread revolved around dealers. A collector here or there by all means have at it enjoy the thrill of selling enjoy what you collect that is what its all about.

 

Hey, you're the one with the attitude. See! There you go! You've already assumed that what I've spent on coins isn't much and yet you know nothing about me. If that "21" in your user name is your age, then I probably started collecting before your father was born.

Get real! Shops are going out of business because many of them can't compete with the internet. Someone walks into their store and has instant access to any number of sites for pricing info, varieties, etc. Were you around when the dealers started scarfing up the VAMView price guides many years back because they couldn't keep up with the VAM's?

Chris

 

You actually proved my point perfectly. The walk in customer who I should invest over a day in to hopefully net a 20 dollar bill. You've made clear you're looking to rip people off

As I said from the start this is all an complete waste of time for a dealer and this is a major supply of modern proofs in circulation. You were the only one arguing that dealers should serve you and not worry about profit.

 

I still pick up coins I find in a parking lot or in my Walmart store.

 

You're just a 21 year fool who doesn't want to work for his money. Like I said, you don't know anything about me because you just got here. Go back and read some of my 20,000 posts, and you'll find I detest ANYONE who rips off others. I'll be surprised if you even have a store!

I've got a better idea!

Ta Ta, sonny boy!

Chris