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misteroman
Administrator
USA
2565 Posts |
 Posted - 07/25/2010 : 11:53:57
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do you guys think it's wort it to pay someone $5 an hr to sort? Also if you really trusted them You could have them take them back to dump bank, coinstar, or however you get rid of them. If you had 3 ryedales and they were able to run 18000 an hr= 54,000/hr max. should be able to do 40,000/hr normally. If you figure a 20% CU rate which is a tad low I believe you're still pulling 8K CU and hr.8,000X 1.2c is $16 profit per hr. Granted you have some extras in there that are going to hit your bottom line such as cracking rolls pickups etc. I know without trying too hard I could pick up 5k a week in pennies. Getting rid of $4000 would be a little harder but If I picked up a rolling machine for $1k or so would make it much easier. Just looking to get everyone's thoughts and my Numbers are low to make sure you cover worst case scenarios.
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Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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rosco
Penny Collector Member
USA
254 Posts |
Posted - 07/25/2010 : 12:21:44
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I would not sort for less than $10.00 per hour an I'm retired but my time is still worth that. JM2C
Who is paying for the Raydales??
Or are you talking about hand sorting? |
Old Geezer a HAND Sorter |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 07/25/2010 : 12:47:51
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quote:
Originally posted by rosco
I would not sort for less than $10.00 per hour an I'm retired but my time is still worth that. JM2C
Who is paying for the Raydales??
Or are you talking about hand sorting?
Good point, Rosco... probably only a child would work (feeding the Ryedale's) for $5 an hour. You'd need to pay at least minimum wage to someone older who could drive and do the bank exchanges. Are you planning on stockpiling or can you get a return on your investment at these prices? Who is going to pay significantly more than $1.20 for copper? If you do have a buyer, why not just rely on your present business plan of buying sorted from the existing network of forum members at your offered price? It may not tempt many, but a few will always need the cash and should provide you with a steady flow of sorted. If you've got the capital, why sort yourself? Time is the most expensive commodity.. let someone else sort for you. JMHO  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 07/25/2010 : 12:54:31
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| Isn't 5$ below the minimum wage laws? |
Trolling is an art. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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Kiwiman
Penny Pincher Member
225 Posts |
Posted - 07/25/2010 : 17:06:42
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| If you have 3 rydales then i think it is |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/25/2010 : 22:39:55
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I have a guy who is on SS that I actually pay $5 to do odd jobs sometimes. I haven't been able to do any sorting myself the last few weeks as I've been super busy. Only 1 Ryedale for now but plan on getting more when time frees up or something like stated above happens.
Just seeing what you guys thought. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 07/26/2010 : 02:30:27
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| I've thought about hiring a teenager to sort for me, but then I have to make sure I get coins and return coins etc. Too much responsibility to keep someone else busy. I prefer to just sort when I feel like sorting. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 07/26/2010 : 05:39:13
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| If you have someone happy to accept $5 cash an hour, who doesn't want to jeopardize their social security limits, than that is a different matter. Then it becomes not, is his time worth $5 an hour, but is yours? You need to stay free to do what brings in the greatest income for you... and if you make enough doing that to subsidize his retirement, then way too good. Is he happy with the arrangement? If yes, than why mess with it? |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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battlecat
Penny Pincher Member
152 Posts |
Posted - 07/26/2010 : 14:42:45
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| What part of Ohio I need a part time job in Jan. when I move there :P |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 07/26/2010 : 15:42:54
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Something to consider also is disposal of zincs. If you have to buy a rolling machine, can you cover the added expenses of this i/e fixed costs of electric, paper wraps,etc. Like most of us here time is a valuable commodity. When you run short of sorting time, stock pile for the fall and winter season. You have the capital to invest so why not stockpile for the off season when supplies become tighter, or as suggested just buy the sorted copper at the current market prices this makes more sense if you only want to accumulate. Consider the human factor. Who will watch your $5.00 an hour sorter Just a small skim every few days can negate any gain in the "cheap labor". There are many sellers here, some even local who will sell you bulk for the right price. After reading the stories of the problems some on here have been having I would think your bank connections might tire of large purchases and zinc dumps after a while and cut back or maybe even off your supply. Good Luck if you try it.
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 07/26/2010 : 16:23:56
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| Seems to me that it would be cheaper and less stressfull to just buy the sorted copper. |
Copper Penny Investing
www.portlandmint.com |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 07/26/2010 : 16:34:06
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Maybe throw a coin wrapping party; kind of like kids in college who throw a painting party to get their apartment painted :)
I actually have a friend who wraps my zincs for free. She actually finds it relaxing to sit in front of the T.V. and wrap pennies. I supply the pennies and the wrappers and she wraps them. Sometimes she will even turn them in at the bank for me. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 07/26/2010 : 17:28:50
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quote:
Originally posted by PennySaved
Maybe throw a coin wrapping party; kind of like kids in college who throw a painting party to get their apartment painted :)
I actually have a friend who wraps my zincs for free. She actually finds it relaxing to sit in front of the T.V. and wrap pennies. I supply the pennies and the wrappers and she wraps them. Sometimes she will even turn them in at the bank for me.
What's her number? I return loose, but having rolled coin would allow me to dump at even more banks. I have a few zincs she could roll....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 07/26/2010 : 17:44:55
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| She actually helps keep me caught up; I gave her 6 boxes the other day haha |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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Coinage
Penny Collector Member
Canada
303 Posts |
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TXBullion
Penny Collector Member
374 Posts |
Posted - 07/27/2010 : 23:27:16
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 07/28/2010 : 02:34:11
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| Nude workers is not too far off. When I toured the RCM I learned that at the Mint they metal detect everyone coming and going from work. No metal zippers or buttons - only Velcro on clothing. You have to be 100% metal clean so no skimming coins day by day. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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marine70
Penny Pincher Member
USA
150 Posts |
Posted - 07/28/2010 : 08:45:00
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| Yea you had better pay at least minimum wage. All the president's men and women are looking for extra money for healthcare. They could be watching. |
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AFModell
Penny Sorter Member
USA
82 Posts |
Posted - 07/28/2010 : 12:18:19
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If youre willing to wait 5 years, just have a few children now. :) Ive told my wife, shamelessly, that when we have kids I will do my best to get them interested in my hobbies. I mean, cmon, whats cuter than a 5 year old begging banks for half dollar bags? Ill be around to carry it for them.
In seriousness, I dont know that $5 is worth the potential opsec risk. You open yourself up to "the trusted insider" risk. I would be wary of anyone outside of immediate family knowing how much I sort, where its kept, or being too friendly with the tellers at my deposit bank. If you have a dedicated brick and mortar offsite location from your personal or main storage, I think thats a bit safer. |
A penny saved is...TWO pennies earned! |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/29/2010 : 08:39:49
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| Funny you should mention that. My 18mo old snags any coin he can get his hands on then runs to his big alligator bank, drops it in and starts clapping! Going to start hitting up the guests soon. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Max
New Member
2 Posts |
Posted - 07/30/2010 : 22:34:57
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| This is my first post, and I'm not familiar with the board yet. I did not realize until looking around a bit that the administrator here is the owner of Ryedale. I am a retired machine mechanic and am near completing my own sorter. I bought the comparator directly from a manufacturer. I'm still working out a minor bug in the feeding mechanism, but otherwise it works great. |
Edited by - Max on 07/31/2010 00:52:42 |
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Max
New Member
2 Posts |
Posted - 07/30/2010 : 22:37:41
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| I might add, I do not intend to manufacture and sell them though, so please don't ask. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 08/02/2010 : 23:27:21
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quote:
Originally posted by Max
This is my first post, and I'm not familiar with the board yet. I did not realize until looking around a bit that the administrator here is the owner of Ryedale. I am a retired machine mechanic and am near completing my own sorter. I bought the comparator directly from a manufacturer. I'm still working out a minor bug in the feeding mechanism, but otherwise it works great.
And how is that at all relative to my thread? |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 08/03/2010 : 06:13:21
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It's not....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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twentybux
Penny Pincher Member
174 Posts |
Posted - 08/03/2010 : 13:55:30
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| Meanwhile back at the ranch...I agree with several others that if it is a business venture you are looking into, $5 would seem a little low to get workers. I would be afraid that the 5 finger discount would come into play. If you are looking at investing these coppers and you have the loot, pick up some from the fellow forum members. But hey, we live in a free country (for the time being), so you must do what makes you happy. Just my two cents...or twentybux. Adios! |
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Would it be worth it to pay someone $5 to sort?
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