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Fascinating. No wonder why US pennies are now just made from aluminum or some light weight material.
Appreciate hearing about other platforms. Interesting that Etsy purchased Reverb because none of those features are true for Etsy.
My hunch may be a new site will offer really good shipping, good returns policies, good payouts, low fees….to get customers. Then it becomes business as usual.
I remember when people were selling on Depop and Poshmark and it was all very easy and cheap. Not sure if its the same now that their venture capital is starting it run out.
Or Reverb may just do a really good job. Wish I had musical instruments to sell!
Metal hounds are so interesting to me.
So a US penny is worth 1-cent. How much copper is it worth if you could recycle it?
I’m sure you can find unscrupulous recylcing centers, but it is illegal to melt or damage US currency: https://encorerecyclers.com/penny-scrapping-controversy/#:~:text=As%20many%20scrap%20metal%20enthusiasts,face%20value%20in%20scrap%20metal.&text=However%2C%20melting%20these%20pennies%20down,for%20scrapping%20at%20this%20time.
However, melting these pennies down is illegal, meaning that they are not viable for scrapping at this time. Despite this, many scrap metal and coin collecting enthusiasts collect copper pennies, hoping that the ban on melting them down will be lifted in the near future.
So maybe people are just hoarding.
Why would pre-1982 pennies be valuable? How valuable are we talking?
April was probably one of the scariest of my life because of the financial insecurity due to the pandemic. But we were able to make it work thankfully.
We’re just having dinner with our four cats. Meow everyone.
How much did they sell for?
We experimented with eBay Send earlier this year and into the pandemic. After 4 or 5 packages getting lost, we stopped using it because we were responsible for the delivery. We’re now back to only GSP. We may lose out on some sales, but it’s less stressful.
The cheapest option for buyers is if you’re willing to ship First Class International. You take all the risk, but shipping is cheap for the buyer.
We’re going to wait till we get our 1099 from Paypal and eBay in the next couple months. Be interesting to see if they include those taxes. If so, I guess we’ll just need to find documentation that eBay paid it.
Got it. So thats good for us, right? Means we wont have to prove to the IRS that the taxes collected were income and were paid out. Seems eBay is not treating collected taxes as income.
But I don’t know where to find out a monthly breakdown of all the taxes collected and remitted in our name. I’m hoping when we get our 1099 from eBay, they do not include taxes in our profit.
I went to my “Seller Hub”, then “Manage all orders”. I clicked on the transaction number under Order details which will look like this: 2-06121-07900. The Sales record for that number then has all info on the seller, shipping, and the sales data I shared.
If your logged into your eBay account, this link should take you to your sold items. Just click on one of the items you sold: https://www.ebay.com/sh/ord/?filter=status%3AALL_ORDERS%2Ctimerange%3ACURRENTWEEK
Not sure how eBay is doing the reporting in Managed Payments, but we just sold an item to someone in TX and they were charged sales tax:
Item subtotal$70.00
Shipping$27.83
Sales tax (eBay collected)$8.07
Total**$105.90**Total includes eBay collected tax. We collect and remit tax to the tax authorities in accordance with applicable state law. You don’t have to pay it to the state.
11/24/2020 at 9:05 am in reply to: Scavenger Life Episode 489: Business = Resource Management Video Game #83652“junk” is very subjective. I know we have hundreds and hundreds of items that are likely junk. But it does sell eventually. But when you have a smaller store (500-ish items), you just have to be careful you aren’t full on junk. This is where research comes in.
11/24/2020 at 9:02 am in reply to: Scavenger Life Episode 489: Business = Resource Management Video Game #83651Understood. Minimum wage isnt a living. You made the right choice.
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