Load of old tosh

[craigy]

where do they get there figures from   http://www.dailymail.co.uk/news/article-5250171/Businessman-makes-70-000-year-selling-COINS-eBay.html

[craigy]

and the 2p made out of the 10p blank, surely some of the design would be missing ? 

[declanwmagee]

Crikey, imagine the state the country would be in of everyone started believing the Daily Mail.

 

Oh wait...

[Paulus]

And of course a turnover of £50k-£70k per year (if true) is NOT £50-£70k profit or income!

[DaveG38]

2 hours ago, craigy said:

where do they get there figures from   http://www.dailymail.co.uk/news/article-5250171/Businessman-makes-70-000-year-selling-COINS-eBay.html

All I will say is that the general thrust of this article is about right. No, they don't have a grasp of the detailed prices/values, but they have reasonably accurately identified the main 'rare' coins in circulation. The prices they quote for them are mostly off, particularly the undated 20p which is nowhere near £100 now, but was in the early days. But as has been said, it is the Daily Mail, so what do you expect, though I'm not sure the working man's beano (The Sun) or the Mirrror would have got it any better.

However, I somehow, I doubt that this guy is making quite the sort of money claimed, though there is, it seems, a healthy market for modern 'rarities' and he's just tapping into this.  He's got stiff competition from other 'dealers' who also sell these coins and although the mark up is considerable it takes a hell of a lot of sales to 'make' £70k a year in sales, let alone profits. Having said this, I notice that there are many people selling Isaac Newton 50ps, yet these don't seem to be available in change yet, which suggest that people are bulk ordering them from banks and then selling them on at a profit to those who aren't willing to wait for one in change. Maybe he's one of these people. Maybe, one day, he'll branch out into predecimal and become another general coin dealer. Who knows? The only other thing is that I'd hate to have to rely on the Post Office he uses, assuming he uses the local counter. I've been at the front, with just a dozen RD or SD coins to be processed/posted and the thudding of daggers in my back from all those standing fuming in the queue is quite uncomfortable.

[PWA 1967]

Forgetting the contents of the article.....

I take my hat off to the kid.

FOC advert in a national paper....fantastic PR job.

Young business of the year award from EBAY.

All he needed was a website and would of generated some traffic straight way.

Weather he has made £50K or 50P is not the issue IMO.

He has done something on his own and kicked on with it ,nothing illegal and nothing to upset anyone.

Hope you read this and weather you sell coins or decide to do something else on your own i wish you all the best.

Edited January 9, 2018 by PWA 1967

[craigy]

52 minutes ago, PWA 1967 said:

Forgetting the contents of the article.....

I take my hat off to the kid.

FOC advert in a national paper....fantastic PR job.

Young business of the year award from EBAY.

All he needed was a website and would of generated some traffic straight way.

Weather he has made £50K or 50P is not the issue IMO.

He has done something on his own and kicked on with it ,nothing illegal and nothing to upset anyone.

Hope you read this and weather you sell coins or decide to do something else on your own i wish you all the best.

give him his due though, i forgot to add, 

[rpeddie]

3 hours ago, craigy said:

and the 2p made out of the 10p blank, surely some of the design would be missing ? 

a little i guess  

[copper123]

On 09/01/2018 at 4:03 PM, DaveG38 said:

However, I somehow, I doubt that this guy is making quite the sort of money claimed, though there is, it seems, a healthy market for modern 'rarities' and he's just tapping into this.  He's got stiff competition from other 'dealers' who also sell these coins and although the mark up is considerable it takes a hell of a lot of sales to 'make' £70k a year in

darn right

[craigy]

On 1/9/2018 at 5:48 PM, rpeddie said:

a little i guess  

i'm guessing the force of the die would squash out the metal to make up the smaller flan ? 

 

[1949threepence]

"Up to £70k a year" - sounds a bit like promised broadband speeds as you get your17mg a minute !!! 

If the concern only started in January last year, then clearly that figure is pure guesswork, as well as probably pure fiction. I don't believe for one second they've made anywhere near that amount.

Still, as Dave says, much of the info in the article is factually correct, and I too take my hat off to the lad for getting publicity in a popular national newspaper.