1660
8 sec

Summer Job Reselling Silver Brings in $10,000

When his roommate makes $2,000 buying and selling silver in one weekend, this student turns off the TV and starts his own education in precious metals. He goes on to earn $10,000 his first summer.
Reselling

Subscribe Now For A Free Five Step Tutorial

What It's About

A college student gets educated in coin reselling and strikes gold.

Business Model
Reselling
Skills Required
Research & Marketing
Complexity
Low
Profit Potential
Medium

Words of Wisdom

Max share some great advice, "Be humble, don't think you know everything. This will allow your mind to stay open to learn. Knowledge/experience is the key to this (and most) business."

Fun Fact

On one occasion, Max was offered gold jewelry worth over $500 for just the price of $20. The reason? The seller was a former nun an avowed communist who didn’t care about how much she would get in return.

Notes from Chris

Episode 1660
Max Hockley vividly remembers the most important Sunday of his entire college experience. It was supposed to be an uneventful evening watching TV—that is, until his roommate burst into the room and threw a stack of $100 bills on the table. When Max asked him where he got all this money, his roommate exclaimed, “Silver, baby!” A friend had told him that gold and silver were at all time highs, and that he made a tidy profit heading to garage sales buying mismatched jewelry and selling it for scrap. In fact, Max’s friend had made $2,000 in profit that weekend.

This was in 2011, and Max was a broke college student who needed the money. Upon hearing about his friend’s success, he immediately begged for lessons.

He also studied up on his own. After going through countless YouTube videos and talking to a few old-timers at the local library’s coin club, Max charted a course of attack for his plan. He would spend Thursdays nights flipping through Craigslist to find weekend garage sales and mapping the best possible route to visit each of these places.

Starting with just $500, Max went on to make over $10,000 in profit in that summer. Hitting up garage sales over the past months taught him that competition was intense, and that he needed to hustle harder than anyone else if he wanted to do well. In fact, one of his most common experiences was showing up to a sale and finding out that someone else had bought the items he was looking for just hours earlier.

Looking back, Max says that the willingness to hustle was what set him apart. Not many people are willing to get up at 6am on a weekend and drive from house to house. His commitment to his craft has also left him with wild stories that he would never forget. One such experience was meeting a former nun at a garage sale who was selling some gold jewelry for just the price of $20. Max was honest: he told her that what she owned was worth at least $500—but she said she didn’t care because she was a communist! In the end, the goods changed hands for $40, which was all that Max had left in his pocket after making a bunch of other purchases.

These days, Max has followed true Side Hustle School fashion and shifted his focus over to sharing his knowledge. Although he now runs a car rental company for his day job, he remains passionate about the scrap business, and spends his spare time creating videos on YouTube to teach people the tricks of the trade. His channel—the SilverPicker—now has over 100,000 subscribers. As they say, one man’s trash is another man’s treasure.

 
  MENTIONED IN THIS EPISODE:

SEE ALSO:

Inspiration is good; inspiration combined with action is better. Now get back to work! Yours in the revolution, cg-sig-newsletter


Download Episodes By Months

Season 5 (2021): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP |

Season 4 (2020): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 3 (2019): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 2 (2018): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Season 1 (2017): JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |

Resources

GET $625 IN FREE TRAVEL

Earn 50,000 travel rewards points (enough for 2 round-trip plane tickets or $625 in travel credit). You'll also earn 2x points on all travel and dining spend, with zero foreign transaction fees.

I use this card every day all over the world! ✈️


Learn More

CREATE YOUR ONLINE STORE

Create your online store with Shopify using an exclusive discount for Side Hustle School listeners. For a limited time, get a free 21-day trial and a 10% discount for a whole year.

Many Side Hustle School listeners are building sites using Shopify's easy-to-learn platform. Try it free today!

Learn More

Quote of the Day
"Be humble, don't think you know everything. This will allow your mind to stay open to learn. Knowledge/experience is the key to this (and most) business."
—Max Hockley #SideHustleSchool

Sponsors & Gratitude

Learn More With Skillshare!

Supporting the sponsors keeps the show free. Today’s episode of Side Hustle School is brought to you by Skillshare. 📷

Skillshare is giving Side Hustle School listeners 2 months of unlimited access—for $0.99! Join the 2 million students learning everything from street photography to SEO on Skillshare today!


Get Started Here!

Like the Show? Leave a Rating!

Side Hustle School is for you! If you’re enjoying it, please take a quick moment to leave a rating or write a quick review. It's really easy and it makes a difference! ✅

It also makes a huge difference when you tell your friends about the show. Remember, it's 100% free and listener-supported.




Here's How

Keep in Touch

There’s a new story every single day on Side Hustle School. Episodes are produced to be short and to the point—I know you’re busy. Be sure you subscribe to get instant notification of the day’s broadcast!





To infinity and beyond,

Chris Guillebeau