Making Money By Selling Money

Making Money By Selling Money - Homely Economics

 

I’m not a natural at selling. There, I’ve said it.

 

I’m much, much better at collecting. Unfortunately for me, Lord Balders is not keen on collecting things that could make us more money if we sold them on, and he definitely is not keen on collecting money that he’s not allowed to use. When I told him that we could sell that money on eBay for even more money – well, I didn’t stand a chance!

 


1997 Isle of Man TT Rally 20p

 

Coins and bills have always fascinated me, and I remember as a kid in Barbados playing with a few pre-independence coins that my mother had kept. They were so strange and special, and they had this mystical queen’s face on them – crazy!

Nowadays, I’ve gotten used to all the coins in my pocket having this same lady’s face on them, and sadly it’s not mystical or crazy at all. Whilst I’ve traded flying fish on my dollars for Lincoln on my cents, and later for Liz on my 50 pence, I still feel intrigued by money, especially coins. There’s a lot of artistic merit in their designs and in their reach: different times in my life were defined by the visual language of the currency I used, and especially by that weird transition period when I wasn’t used to it yet.

 

2011 WWF 50p – sold for £2.70.

 

All that leads to me saying that I don’t want to sell my pretty 50p’s.

 

As Lord Balders is a window cleaner, he brings home huge amounts of loose change to be sorted and later banked. Most of his customers have never heard whispers of the oncoming cashless society, it seems. Sorting through the coins and bagging them up for the bank, we’ve often come across different, unusual (and sometimes dodgy) coins, and I’ve always been the one to set them aside for my stash.

 

I could only convince him (as it was his wage, technically) to keep a ‘special’ 50p or £2 coin aside on the basis that it was rare and therefore, could be worth more than face value to a collector. But it took a lot of convincing, and whilst he did join in for a bit, after 3 years his patience has run out. Now I’ve got to try to flog my money for mo’ money. (Yes, we’ve been watching the Home Boy Shopping Network thanks to In Living Color on YouTube!)

 

It really is time to do it though, as I’ll never be a serious collector, and we need to get ourselves into the swing of eBay selling and diversifying our income streams (thanks, Bank of England rate cut).

 

The AK47 serial number outperformed AAs!

 

Last weekend I listed quite a few of my coins and a few new polymer £5 notes and barely scratched the surface. I’ve been sitting on serious money – even without selling it for more than face value! Today, I sold 6 coins and one note. All of them have shown a significant return on their value – sure, on small amounts, but the profit shows a return you’d never achieve via a bank.

 


For example, I sold a WWF 50p for £2.70 – a profit of 440%. Even better was the 2012 London Olympics offside rule 50p – sold for £3.20, a profit of 540%.

 

But so far, the biggest hit is an Isle of Man 20p featuring the Manx TT rally. The opening bid was 99p, and it ended at £8.59! That’s a 4195% profit!

 

So far, I’ve made £33.49 from selling £10.70 – a profit of £22.79, or in other words, 213% in one week. The smaller denominations have done phenomenally well, whilst the only £5 note I sold went for £9.50, which is still almost twice its face value. I thought the notes with AA serial numbers would be popular with collectors, but in the end, it was AK47 that did it… really surprised me, and I wouldn’t have listed it if I hadn’t come across news articles about these serial numbers being sought after.

 

Whilst I enjoy having interesting coins and notes, I know there are others out there who would be happier to have them, and I’ll enjoy making a bit of a profit as well. And I do think that for collectors, they’re well worth the money. So there’s happiness all around, and now I’ve got the eBay bug. It went so much more smoothly for me this time as opposed to the last time I tried selling there. I’m definitely going to stick with this as a way of making a bit of extra cash, so look out for more of this kind of news!

 

Oh, and if you’re interested in collectible 50 pence coins, you’ll probably know about that rare Kew Gardens 50p – and you’ll know my pain when I say that it turned up in Lord Balders’ change… but got sent off to the bank.

 

Spare a sob for me and the 50p that got away!




If you enjoyed this post, please sign up to my newsletter here. Thank you!

Like this? Read these:

Leave a Reply

Your email address will not be published. Required fields are marked *