should i get a ryedale

[billionaire]

Hey guys i was wondering if i should purchase a ryedale. I was going to order about 50 boxes of pennies when i get it and then i would sell on ebay and craigslist. Has anyone had experience with this and have you already paid your ryedale off?

 

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[SilverHoarder07]

I have a question. How do you fellers with ryedales manage to return all of the zinc coins?

MU covered this quite well, just take them back and run them through a self service machine if its available. If its not, find a bank that has one and get an account established.

I work at a Credit Union and all of our branches have self service machines in the lobby. There are 3 bags in the machine dedicated to pennies and each bag holds $50. Now while I dont have any issues dumping as much as I would like at any given time, I would recommend the typical dumper to dump $100 or less if they dont want to have a teller come out and assist them with a bag swap. However, if you are ok with this occuring, I would recommend dumping up to 225-250 at a time if your branch setups are similar to mine.

Now obviously 3 bags of $50.00 = $150 so hypothetically you could get away with $300 in dumped cents at a time with only 1 time of having the teller come out to help you...I say do less than the maximum only with the assumption that the cent bags in the machine are not completely empty at the time you start to dump.

let me know if anything I'm saying needs clarified.

Also, I bought my Ryedale with calculations similar to MU's regarding the profit per $100 FV pre 1982 cents being about $50 after all fees and shipping. However, due to issues with Ebay freezing my account for who knows why and not being able to start another, I have decided to hoard the pennies until another selling opportunity presents itself or I can resolve my issues with ebay. It kind of stinks, my ebay user had 114 positive feedback with no negatives

If you do your own calculations just account for the following to be safe:

Ebay takes 10% of final sale price
Paypal takes 3% of final sale price
Shipping can be flat rate USPS box at $12 I believe because it can be up to 70 lbs and 100 FV is only 68 lbs.

(These % are actually rounded up)

 

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