My 10 year old nephew wants to try flipping moderns on ebay. What should I tell him?

Bayard1908 · April 23, 2010 8:51AM

I think he envisions buying presidential dollars at face value and selling them at a premium. Knowing nothing about moderns, I do not know if this is possible; however, I've heard you guys talk about 2009 nickels and dimes being worth significantly more than face.

Should I tell the kid to try it or not?

adamlaneus · April 23, 2010 8:59AM

Right now on ebay, there is a Millard Fillmore single dollar going for $1.29 with shipping of $1.29. So, it sounds like one can eek a few cents out of selling singles.
I am willing to bet that when all is said and done, 100% of your profit ends up going to eBay, PayPal and USPS.
The experience may be valuable.

Constantine · April 23, 2010 9:00AM

I would honestly tell him that he has the rest of his life to try to figure out a way to make a small profit selling things and to just enjoy coins, be a collector, and more importantly, be a kid.

Mercury10c · April 23, 2010 9:04AM

Try it on a small scale. It will be a great learning experience for him.

TwoSides2aCoin · April 23, 2010 9:04AM

Tell him it's a lot safer than climbing trees at that age. I can remember doing that often when I was that old.

ProofCents · April 23, 2010 9:05AM

Tell him he'd be joining 10,000 others

touche · April 23, 2010 9:05AM

<< I think he envisions buying presidential dollars at face value and selling them at a premium. Knowing nothing about moderns, I do not know if this is possible; however, I've heard you guys talk about 2009 nickels and dimes being worth significantly more than face.

Should I tell the kid to try it or not? >>

No. The nickels and dimes, until recently came from Puerto Rico. Last year, it took me a couple of days to get to the source there, and I spoke no Spanish. All the telephone prompts are in Spanish, I just guessed. I got all rolls at cost, plus I paid shipping. I was very fortunate in obtaining about $2,000 of these rolls at face.

Broadstruck · April 23, 2010 9:21AM

Well you gotta give him credit as they ain't making kids the way they used too!

Most are all video game junkies as I can't remember the last time anyone his age or older wanted to make a few bucks by shoveling snow or raking leaves?

Edited to Add: Great I finally sound like an old fart!

LindeDad · April 23, 2010 9:21AM

He is too young to qualify as a user of eBay. It is against their TOS for a minor to buy or sell on eBay.

Mrmiamih · April 23, 2010 9:22AM

Try Baseball cards, damm rookies out of packs that are autographed like Jason Heyward are going for over $100 + graded

TomB · April 23, 2010 9:27AM

Ten years old? His folks will be doing the work and I am certain they have much better things to do.

illini420 · April 23, 2010 9:29AM

I say let him try it out... maybe this is the modern day version of kids selling lemonade in front of their house.

adamlaneus · April 23, 2010 9:34AM

Although LindeDad is correct that a minor cannot have an eBay account, legally...

A minor certainly can use an adult's account. The adult will be liable if anything goes wrong.

coinkat · April 23, 2010 9:50AM

I admire ambition in youth...

I admire education and reasoning skills even more.

Consider helping him learn more about numismatics and perhaps a numismatic star will be born based on an appreciation for for what really matters

Griv · April 23, 2010 9:53AM

The Modern Market is dead. The new Sherrifs killed the Mint and now all that is left is crap.

dizzyfoxx · April 23, 2010 9:54AM

<....What should I tell him?>

MsMorrisine · April 23, 2010 9:54AM

unless he can score sought after unopened boxes of something other than pres. dollars... it is a lot of work for just a little profit.

Although, you might try it as some have suggested just to find out, and if it does turn out to be not or barely profitable then it will be a learning experience.

PerryHall · April 23, 2010 9:58AM

Does eBay and the state law allow childern to sell and, hence, enter into a contract with buyers?

DennisH · April 23, 2010 10:01AM

How him, "How much money are you willing to lose?"

timber100 · April 23, 2010 10:03AM

It would be a great activity to bond with the youg lad, all young collectors dream of finding a rare coin and/or making money. I know I did, but I never found the coin in all the change I went thru when I was a kid. Good luck!

wheatguy · April 23, 2010 10:06AM

As long as his parents consent, he can use eBay.

Same thing I do, since I am a minor.

LindeDad · April 23, 2010 10:10AM

BTW if he does good luck I have listed certified Pres. dollars on eBay for 99¢ opening and no takers.
Don't mean to spam but the market for them is very weak right now.

doh · April 23, 2010 10:17AM

I'd let him try it. Whether he makes any money or not really isn't the most important thing...he'll get a valuable learning experience and have some fun along the way. If you're negative about it - telling him he won't make anything or telling him that everybody is doing it so it's a waste of time, etc - will only sour him on the hobby. Be positive and supportive and he'll learn something from the experience.

BBN · April 23, 2010 10:23AM

<< they ain't making kids the way they used too!
>>

. Kids are still made the same way they were made thousands of years ago.

Swampboy · April 23, 2010 10:45AM

<< 

<< they ain't making kids the way they used too!
>>

. Kids are still made the same way they were made thousands of years ago.

>>

Justacommeman · April 23, 2010 10:48AM

Tell to him makes sure he uses W@W and L@@k in his titles and he should be fine.................MJ

sinin1 · April 23, 2010 10:50AM

he might have better luck selling state quarters for a buck (oops 99 cents cuz of listing fee)

on the European eBay sites

PerryHall · April 23, 2010 10:50AM

<< As long as his parents consent, he can use eBay.

Same thing I do, since I am a minor. >>

So, his parents become the legally responsible party. I wonder how they feel about their 10 year old son becoming an eBay seller.

edix2001 · April 23, 2010 10:52AM

Tell him that's how Q. David Bowers started out.

MsMorrisine · April 23, 2010 10:52AM

<< presidential dollars >>

eBay prices for presidential dollar rolls are terrible (for the sellers).

wheatguy · April 23, 2010 10:56AM

<< So, his parents become the legally responsible party. I wonder how they feel about their 10 year old son becoming an eBay seller. >>

I am a couple years older than the OP's nephew and have sold about 9 items on eBay, and have 100% feedback, although I can't see my DSR ratings yet. . I buy and sell on eBay whenever I like, and my parents don't mind. They know I know what I'm doing.

All funds made or coins bought are completely with my self earned money, and I am the person who compensates any refunds and solves any problems the buyer may have. And no, I do not buy on eBay with "chore or allowance money," like the kids of today.

Completely self earned.

PerryHall · April 23, 2010 11:01AM

<< Tell him that's how Q. David Bowers started out. >>

Selling on eBay?

Type2 · April 23, 2010 11:13AM

I think he will do find and even better with the Nickels and Dimes if he can get them at face.

notwilight · April 23, 2010 12:10PM

Yes, dealing moderns is a breeze--definitely kids' play. I've had to open a second bank account because the first one was full. --Jerry

Bochiman · April 23, 2010 12:43PM

<< BTW if he does good luck I have listed certified Pres. dollars on eBay for 99¢ opening and no takers.
Don't mean to spam but the market for them is very weak right now. >>

Yep....I bought about 15 PCGS certified prez bucks from a board member for ~$60ish and I have been literally giving them away (to YNs) rather than try to sell them given the market.
Of course, I bought them with the intent to give them away (since they are entombed, they are great for the young siblings to get along with the older YN as they can't easily hurt them, nor swallow a coin and they get a chance to learn).

I have about half left and still give them out as I can.

Nysoto · April 23, 2010 12:59PM

Let him try with parental supervison. Sounds like an ambitious kid. I had a City of Seattle business licence at age 14, tying trout and salmon flies for the local sporting goods stores.

johnny9434 · April 24, 2010 2:16AM

if he has to cut someone in on the so called profits, so be it. if anything itll be a learning experience. ( nothing i would really want to do on ebay right now or these day but who knows in the future

tahoe98 · April 24, 2010 2:28AM

....tell him "your eyes are bigger than your stomach"

doh · April 24, 2010 2:35AM

I'm very disappointed with some of the responses in this thread. To those of you with rude comments about not getting rich or it's not worth the time, try to think about when you were a kid and had a lemonade stand. Did you get rich? Of course not, but hopefully it was fun and taught you a few things about business. Also, remember that he's 10 years old...he's not some college kid trying to flip moderns to make real money...he just wants to have some fun. Lighten up.

Ahrensdad · April 24, 2010 2:51AM

I say do it. He could also go to local shows and become the dealers' source for rolls. With a little add'l work to get both MM, they could really value his service. It's obviously not about the money, but the interpersonal and other skill sets he'll be working on.

As a side note:

We have a 9 year old boy in my area that knows more about coins than many of the weekend Sunday dealers I know (no seriously). He sells state quarters for his dad (who has a shop). He's the best salesman I know. Got $20 bucks out of me at coin show in less than 30 seconds, and it wasn't coins I bought. It was carmel corn for his boy scout troop that was delivered the following month. This kid is having a blast and learning a lot.

Broadstruck · April 24, 2010 2:55AM

<< 

<< they ain't making kids the way they used too!
>>

. Kids are still made the same way they were made thousands of years ago.

>>

jmski52 · April 24, 2010 2:55AM

One transaction will give him plenty of education, and his parents as well. Whose credit card is going to be on the hook? I'd supervise the account to be sure nothing crazy happens.

BillyGoatsGruff · April 24, 2010 12:34PM

Moderns are dead, dead, dead... try an earlier era.

lkeigwin · April 24, 2010 12:55PM

<< My 10 year old nephew wants to try flipping moderns on ebay. What should I tell him? >>

Tell him to clean his room and do his homework. If he wants to make a buck tell him to flip burgers or babysit. Kids today...
Lance.

TwoSides2aCoin · April 24, 2010 1:28PM

I could use some good eyes to work in the shop sorting and flipping. (must have experience with stapler)
Those silly Child labor , Workman's Comp., and OSHA laws stymie real Progress. That's why we have a faux Congress.

My 10 year old nephew wants to try flipping moderns on ebay. What should I tell him?

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