I am thinking of expanding my business model - Hobo Nickels
ctf_error_coins
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It seems almost impossible to buy major error coinage with great eye appeal at wholesale prices today. Extremely hard to buy new inventory.
So where to expand my business opportunities. Awesome rainbow toned commemoratives? Hobo Nickels? Or just go ocean fishing for fun and forget about business expansion.
I saw this coin yesterday at auction at a little over $100 with 7 hours left.
I really liked this coin and it got me thinking. Buy that and try to resell it at a higher price.
Then I check a while later and the coin was a little over $200 which I still thought was a good price at which to resell.
30 some minutes to go and the coin was now at $368 or so. I'm out, but still a nice coin. I am new to this market and want to get a handle on it.
The coin sold for $577
At least I know my instincts were right when the coin was $100.
Now, how do I get select hobos at wholesale? Go to the source. Bid up the best and the realized price becomes wholesale? I love thin unique markets.
I was tempted not to make this post 
Comments
Very cool. The easy answer I suppose is go to the source and try to buy in bulk.
Click on this link to see my ebay listings.
$577 for that abomination is nuts, that's not a real old hobo nickel, it's modern and probably made on a CNC mill
...going from a coin dealer to art dealer might be a fun change, good luck to you buddy
I prefer the modern artists over the originals.
I am an artist myself and "know" art. I think I could pick winners in this space.
Ok, I googled CNC mill. So it is a tool for artists, No worries here.
But now, I may research this myself and see what is possible. My carpal tunnel will not let me hand carve coins. But, if I could draw unique art and have a machine carve it, then I may be interested in doing the art myself.
I don't like it.
Another thin esoteric market.
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It's cool. Everyone has different tastes.
I personally can not get interested in 99% of what most coin collectors collect like Mogan Dollars, IHC, LMC, and Buffs
So boring
I did watch a YT video on a modern day Hobo nickel carver (?).
He had a interesting vice and some simple tools.
A cool hobby for sure.
Seriously, maybe you could make your own?
To me, you have invested so much time and money the next step is becoming a generalist dealer in several series.
Then you could keep the errors for yourself as a sort of IRA
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If you can fish from a kayak In the Pacific Ocean with big sharks that eat people swimming all around you ... you can do anything!
The problem with CNC nickels is that they could be mass produced unlike the hand made ones which are unique.
I love seeing sharks on the open ocean, it makes my day. I have seen probably 10 species of sharks close to my kayak including Great Whites, Hammerheads, and Makos
I met with my brand new financial adviser today in a Zoom Meeting.
I explained my risk tolerance was an 11 on a scale of 1 - 10. Then I told him the stocks I own and the business I am in. He agreed I have a very high-risk tolerance
My motto in business is "The riches are in the niches." It is something that has led me to great success. It is much easier to become very knowledgeable and a go to expert/source in a more esoteric area. There is less to learn, less competition, and often in areas with lower start up costs. Sure, effectively 0% chance of becoming a Fortune 500 company. But much greater chance at being profitable.
So, EOC, I say go for it! It sounds like you have a decent background for the endeavor. jmlanzaf is correct than CNC creations would presumably be treated differently in the market than handmade ones (or at least should be). But either or even both could still make for a good venture.
Search Aleksy Saburov for some neat stuff. He’s one of the best I have seen.
More people opening "private mints, to make custom numismatic creations, and ongoing production of copies, along with beautiful but fake toning, creates more supply in these areas.
Witnesses the Libertas Americana design. The originals remain super cool. The more recent the Manufacturing, the worse, it appears.
Liberty: Parent of Science & Industry
High end Hobos are art. Original Hobos are folk art.
While I tend to strongly prefer original handcarved one offs, let's say for the sake of arguement that a talented artist could use a CNC machine to make multiple examples of a high quality carving.
I'm thinking numbered limited editions.
Sometimes a limited quantity is better than a unique example. The unique example gets bought and then is never seen in public. A limited edition can generate a following with collectors competing for available examples.
It would be the equivalent of a print with the correspondingly lower pricing. It certainly isn't impossible to build a business around it. After all, it is no different than Dan Carr creations. But the value is going to be a function of the reputation of the artist so it will take some time to develop a following.
I believe the "Three mint marks on one coin" niche is already filled.
Just sayin'.
I played around with vintage and modern Hobo's over a decade ago.
It took about 2 years to sell all off on eBay.
They are way more personal design like wise than mint errors.
I broke even after all was done.
If I was going to get into selling Hobo nickels I would partner with some modern carvers and become their selling arm. That way you get an unlimited supply.
I have some of his work pictured in my Buffalo nickel strike characteristics book. He's truly amazing. Here's a few samples-
Very nice. Love this one.
Except they can pretty easily retail their own creations.
I've seen a dealer that appears to represent multiple carvers.
And I know some famous carvers that don't want to deal with the minutia of selling, they just want to carve.
As a consumer of hobo art, I can speak with some authority, at least when it comes to what I buy.
Mass produced / CNC stuff holds little of my interest. The design must "speak" to me for me to purchase, then I will do so only at deep discounts because I know whatever "investment" I make is sunk cost, just to own the piece. I've only bought ONE item that qualifies as such, and I bought it because the design is based on a famous artists work.
This is that piece.
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I think most consumers of hobo coin art find one or two particular artists they have an affinity for, and purchase directly from the source. I have one artist that I am a frequent buyer of, and just recently I have commissioned custom designs, made to my specification, but giving the artist creative license to take my "vision" beyond what I could dream up.
I like the STYLE of his art, which is what compels me to be a frequent buyer. I don't purchase every design of his that I see, but when something unusual or particularly unique comes up, I will execute the "Buy-It-Now" option rather than try to "get a deal" through lowball bidding.
I have been attracted to a couple other hobo artists work, but the attraction for these secondary artists in in the piece, not the style. To date, other than the mass produced piece above, I have purchased TWO (2) pieces that were not crafted by my favorite artist. What drew me to them is the design of each particular piece, and not their artistic style.
These are the "off brand" acquisitions.
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Z
Busy chasing Carr's . . . . . woof!
Successful BST transactions with: Bullsitter, Downtown1974, P0CKETCHANGE, Twobitcollector, AKbeez, DCW, Illini420, ProofCollection, DCarr, Cazkaboom, RichieURich, LukeMarshall, carew4me, BustDMs, coinsarefun, PreTurb, felinfoal, jwitten, GoldenEgg, pruebas, lazybones, COCollector, CuKevin, MWallace, USMC_6115, NamVet69, zippcity, . . . . who'd I forget?
I should mention that my budget does not allow consideration of vintage original hobo carvings or pieces from the likes of Aleksy Saburov. While his work is compelling, the price of entry is too large for the casual collector.
Z
Busy chasing Carr's . . . . . woof!
Successful BST transactions with: Bullsitter, Downtown1974, P0CKETCHANGE, Twobitcollector, AKbeez, DCW, Illini420, ProofCollection, DCarr, Cazkaboom, RichieURich, LukeMarshall, carew4me, BustDMs, coinsarefun, PreTurb, felinfoal, jwitten, GoldenEgg, pruebas, lazybones, COCollector, CuKevin, MWallace, USMC_6115, NamVet69, zippcity, . . . . who'd I forget?
Yeah. It is definitely not uncommon for artists either being bad at the business aspect or simply not wanting to deal with it. As evidenced by some threads here, some definitely don't want to deal with eBay, haha.
Yes. His stuff doesn't come cheap. He has some incredible Morgan dollars, too.
There are some very talented, modern coin artists making product now.... Many examples (including that great piece in the OP) are shown here. It would be a risky endeavor, no doubt. Certainly, there is a market, and no doubt that good art commands high prices. I look forward to your decision @ErrorsOnCoins. Cheers, RickO
I actually commisioned this work and made 600 profit when I sold it. Your results may vary.
Very nice!
Howard Thomas carvings with or without inlaid metal rarely close for $100.
I have noticed some of his hobos get flipped at same ebay USA site for $800 plus in no time at all.
The best approach would be to hook up with a few artists who do not want to market the coins themselves.
I would pay them outright for the coins and even commission many ideas and pay them for the carvings.
The artists would get cash flow from me to continue their work and not worry about selling. I would pay strong prices for the right art.
When I get the coins in, I would professionally photograph each coin and put the coin in all my marketing channels. I would mark them up quite a bit in hopes that the coins would sit in my inventory for a while building up ever bigger and bigger until I am a force.
I am not into quick flips.
I come up with new business ideas weekly and do not pursue 99% of them
My only 'Hobo' nickel art is this strip.
I was told by some nice folks from the Hobo Nickel Society while at F.U.N. that this was something a carver at ANA Summer Seminar would give to a student but no one knew his name or when this might have been made.
All my hobos were carved and marketed by their artist.
Off top of my head I own 15~ish from 5 carvers.
Most of my hobos are from artists who no longer carve coins.
I first bought into this hobby 30 years ago after I saw Bill Fivaz give a Hobo presentation at ANA.
Why not get an engravers block and become a carver ?
I thought about it, almost dropped 900 on a block 10 years ago.
I had read up on making gravers, or buying gravers and related tools.
Some use dremmels, some use air chisels...
Some like Landis get a big old callus on their thumb from pushing the metal old school.
Interesting. Kind of a "progressive proof" for hobo nickels!
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Carpel Tunnel
Most carvers seem to market/sell their own material, as you suggest. I really think it would be hard to find "suppliers", especially for an online sales channel. A carver who doesn't want to do the show circuit might well work out an arrangement with a dealer who travels to coin shows. However, I can't imagine many carvers willing to give up 20% or more so that you can put them on eBay instead of their doing it themselves.
A lot of the newer artists show really refined designs and are more akin to Michangelo's . . . . .
The guy I like (SteveOrino) has a style that really channels the original olde skool carvers of antiquity. I guess to each his own.
Here are a couple designs of his I picked up. These I think are somewhat reminiscent of the vintage carvers, albeit a bit more refined . . . . .
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As far as commissioned pieces go, I am anxiously awaiting delivery of these two pieces I commissioned him to do . . . . .
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"Uncle Bert - Hobo King"
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"Chief Bullsitter - Plains Warrior"
Busy chasing Carr's . . . . . woof!
Successful BST transactions with: Bullsitter, Downtown1974, P0CKETCHANGE, Twobitcollector, AKbeez, DCW, Illini420, ProofCollection, DCarr, Cazkaboom, RichieURich, LukeMarshall, carew4me, BustDMs, coinsarefun, PreTurb, felinfoal, jwitten, GoldenEgg, pruebas, lazybones, COCollector, CuKevin, MWallace, USMC_6115, NamVet69, zippcity, . . . . who'd I forget?
That was made by Joe Paonessa (Badger Mint). I have one similar to that. He was my roommate at the ANA Summer Seminar one time.
The strip is a copper electrotype, made from a mold that had multiple impressions of a work-in-progress.
Here is my one and only "hobo" carving. It was made using CNC technology (which is not nearly as easy to master as you might think). But just because a hobo was made that way doesn't necessarily mean that multiples were made. I only produced this one piece (I never offered it for sale, I only did it to see if it could be done).
That is COOL. Now you need to make these and sell them!
A menagerie of U.S. Mint medals
I can't see the photo.
Searching "hobo" in coins on eBay, there are about 2200 sold listings. 1800 of them are under $50.
@dcarr thank you for that information 🍺
I'll now know who to credit this to
Seems like a low profit market.
That search is way screwed to exclude real art.
To be fair, some of them go for a good bit of money. Looks like you need to know what you're doing or you could get yourself in trouble.
There's rarely such a thing as easy money. And if you find it, it won't last long.
You have a better one word search?
My advice is stick to what you know.
You are a coin dealer and a photographer.
You have invested the time, have a presence, and can more easily scale up in this hobby.
Use you photo skills and take up real estate and drone photography.
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Most are probably rather crude modern carvings.