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

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Bayard1908
Bayard1908 Posts: 4,184 ✭✭✭✭
in U.S. Coin Forum
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?

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  • adamlaneus
    adamlaneus Posts: 6,969 ✭✭✭
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    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
    Constantine Posts: 2,369 ✭✭✭
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    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
    Mercury10c Posts: 2,958
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    Try it on a small scale. It will be a great learning experience for him.
  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,216 ✭✭✭✭✭
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    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
    ProofCents Posts: 1,656
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    Tell him he'd be joining 10,000 others
  • touche
    touche Posts: 238
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    << <i>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
    Broadstruck Posts: 30,497 ✭✭✭✭✭
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    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! image
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • LindeDad
    LindeDad Posts: 18,766 ✭✭✭✭✭
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    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.
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • Mrmiamih
    Mrmiamih Posts: 38 ✭✭
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    Try Baseball cards, damm rookies out of packs that are autographed like Jason Heyward are going for over $100 + graded
  • TomB
    TomB Posts: 23,188 ✭✭✭✭✭
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    Ten years old? His folks will be doing the work and I am certain they have much better things to do.
    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • illini420
    illini420 Posts: 11,659 ✭✭✭✭✭
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    I say let him try it out... maybe this is the modern day version of kids selling lemonade in front of their house.

    Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700

  • adamlaneus
    adamlaneus Posts: 6,969 ✭✭✭
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    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
    coinkat Posts: 24,542 ✭✭✭✭✭
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    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

    Experience the World through Numismatics...it's more than you can imagine.

  • Griv
    Griv Posts: 2,804 ✭
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    The Modern Market is dead. The new Sherrifs killed the Mint and now all that is left is crap.
  • dizzyfoxx
    dizzyfoxx Posts: 9,823 ✭✭✭
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    <....What should I tell him?>

    imageimage

    image...There's always time for coin collecting. image
  • MsMorrisine
    MsMorrisine Posts: 40,040 ✭✭✭✭✭
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    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.
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    Does eBay and the state law allow childern to sell and, hence, enter into a contract with buyers?

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • DennisH
    DennisH Posts: 14,041 ✭✭✭✭✭
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    How him, "How much money are you willing to lose?"
    When in doubt, don't.
  • timber100
    timber100 Posts: 863 ✭
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    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
    wheatguy Posts: 359 ✭
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    As long as his parents consent, he can use eBay.

    Same thing I do, since I am a minor.
    Successful BST transactions with: Walkerguy21D, Metalsman, chumley, cohodk
  • LindeDad
    LindeDad Posts: 18,766 ✭✭✭✭✭
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    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.
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • doh
    doh Posts: 6,457 ✭✭✭
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    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.
    Positive BST transactions with: too many names to list! 36 at last count.
  • BBN
    BBN Posts: 3,761 ✭✭✭
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    << <i> they ain't making kids the way they used too!
    >>



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

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
  • Swampboy
    Swampboy Posts: 13,255 ✭✭✭✭✭
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    << <i>

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



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




    imageimageimage

    "Inspiration exists, but it has to find you working" Pablo Picasso

  • Justacommeman
    Justacommeman Posts: 22,852 ✭✭✭✭✭
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    Tell to him makes sure he uses W@W and L@@k in his titles and he should be fine.................MJ




















    image
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • sinin1
    sinin1 Posts: 7,500 ✭
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    he might have better luck selling state quarters for a buck (oops 99 cents cuz of listing fee)

    on the European eBay sites
  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    << <i>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.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • edix2001
    edix2001 Posts: 3,388 ✭
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    Tell him that's how Q. David Bowers started out.
    member, Greater Houston Coin Club - Edwin's Coin Cabinet
  • MsMorrisine
    MsMorrisine Posts: 40,040 ✭✭✭✭✭
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    << <i>presidential dollars >>




    eBay prices for presidential dollar rolls are terrible (for the sellers).
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • wheatguy
    wheatguy Posts: 359 ✭
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    << <i> 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. image Completely self earned.
    Successful BST transactions with: Walkerguy21D, Metalsman, chumley, cohodk
  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    << <i>Tell him that's how Q. David Bowers started out. >>



    Selling on eBay?image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • Type2
    Type2 Posts: 13,985 ✭✭✭✭✭
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    I think he will do find and even better with the Nickels and Dimes if he can get them at face. image


    Hoard the keys.
  • notwilight
    notwilight Posts: 12,864 ✭✭✭
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    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
    Bochiman Posts: 25,790 ✭✭✭✭✭
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    << <i>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.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • Nysoto
    Nysoto Posts: 3,833 ✭✭✭✭✭
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    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.
    Robert Scot: Engraving Liberty - biography of US Mint's first chief engraver
  • johnny9434
    johnny9434 Posts: 34,049 ✭✭✭✭✭
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    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
    tahoe98 Posts: 11,388 ✭✭✭
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    ....tell him "your eyes are bigger than your stomach" image
    "government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
  • doh
    doh Posts: 6,457 ✭✭✭
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    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.
    Positive BST transactions with: too many names to list! 36 at last count.
  • Ahrensdad
    Ahrensdad Posts: 2,583 ✭✭✭
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    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.
    Successful BST Transactions with: WTCG, Ikenefic, Twincam, InternetJunky, bestday, 1twobits, Geoman x4, Blackhawk, Robb, nederveit, mesquite, sinin1, CommemDude, Gerard, sebrown, Guitarwes, Commoncents05, tychojoe, adriana, SeaEagleCoins, ndgoflo, stone, vikingdude, golfer72, kameo, Scotty1418, Tdec1000, Sportsmoderator1 and many others.


    Please visit my website Millcitynumismatics.com
  • Broadstruck
    Broadstruck Posts: 30,497 ✭✭✭✭✭
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    << <i>

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



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



    image
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    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.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BillyGoatsGruff
    BillyGoatsGruff Posts: 640
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    Moderns are dead, dead, dead... try an earlier era.image
    BGG
  • lkeigwin
    lkeigwin Posts: 16,895 ✭✭✭✭✭
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    << <i>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.
    Coin Photography Services / Everyman Registry set / BHNC #213
  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,216 ✭✭✭✭✭
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    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. image

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