Today I have become a "jobber' for a local bank to supply them with pennies. Zinc pennies of course. The president of the bank called me into his office and asked why I was turning in all ($100.00) the pennies? I told him I was collecting certain dates and he thought about it for a while. Then he smiled and asked if I would be interested in becoming a "jobber' for his bank. The deal is that I will turn in all my unwanted (zinc) cents including those that I get from all the other banks in town over to his bank and its four branch offices. In return he will pay me 5% over the face amount that I turn in. He has some rolling requirements that I have no problem with and will provide me with new paper rolls if needed. He told me not to worry about how much I bring in.
Yes, it's only $1.25 per box, but then I have to get rid of them any way. And I'm making money already off my hoarding.
"The key to building wealth is to not lose money." - Warren Buffet
To quote my favorite animated corpulant 3rd grader.. "Sweeeeeeeeeeeeeeeeeet!"
Wow, that is a fantastic deal! They are paying you a 5% premium for zinc.. and are even willing to provide the paper. Those 1000 foot rolls of automatic wrapping paper can add up, but it is usually the shipping they charge to get it to you that hurts. Congratulations on working out such a great deal. Just curious, what are his rolling requirements?
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available.
Made a deal with a bank today.
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Posted - 11/30/2007 : 19:41:07
