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  #1  
Old 12-21-2011, 02:58 PM
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Default Do you guys make money from metal detecting?

I ordered me and my wife metal detectors today. They should be in friday I hope.

I'm just wondering if you guys actually make a profit?
If so how rare is it to make some money?

I'm not in it just for the money, I really just want to find some old relics and stuff around old house plots on my grandmothers land, but just thought I would ask.
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  #2  
Old 12-21-2011, 03:06 PM
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Good question ms - As for me I have been doing this for 31 years now, go out 2-3 times per week now in retirement and usually realize about $1700.00 per year. This comes from coins cashed in as well as gold & silver sent to the refinery.
We all find an outstanding item once in a while to boost things up as well. Good luck - in it for the fun & not the bux is the key to happy detecting, steve in so az

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  #3  
Old 12-21-2011, 03:15 PM
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Personally, I lose money each year...but I don't hunt for coins and precious metals. I primarily hunt for spend bullet casings and shotshell heads. I do also find a good amount of logging and railroad relics. but I don't sell any of my relics. This year, I found $0.04 in cash, one Wheat Penny and one Silver Quarter.

If you take a look at the signatures of many of the members, you will see the coin/clad count for they year.

Money can be made, but not by me.
Doug

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Old 12-21-2011, 03:20 PM
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Not so far here. If you do make a profit it is a good part luck in finding the right coin of item. People who find the hoardes are the exception and not the rule.

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  #5  
Old 12-21-2011, 03:29 PM
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Well, yes and no.

Yes, if I sold all my finds, I'd certainly make more money than I invested in the hobby. But would it equal minimum wage for the hours spent looking for them? Not even close.

And since I don't sell them, I guess I don't make any money!

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  #6  
Old 12-21-2011, 03:38 PM
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the reward for diggin old silvers and coppers.........priceless

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  #7  
Old 12-21-2011, 03:39 PM
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I have had fun at it and that is what it is about for me.

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Old 12-21-2011, 03:45 PM
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I've got around $3000 invested in the hobby and to date have only found about $25 in coin and 1 silver ring maybe worth around $10. So, no profit yet but at this rate I should start seeing profits in about 30 years

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  #9  
Old 12-21-2011, 03:49 PM
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According to the spreadsheet I offered up in another area on here, YES! I got my MD in Feb 2011 and as of today I just sold the last of my finds off for this year, after paying for the equipment (but not batteries 'cause I use rechargeables) I am up $60.00 for the year. I don't consider gas an expense as I would likely be going somewhere anyway if I wasn't headed to MD. I try to incorporate trips to MD into other errands as well. The only wildcard would be if I made a special trip to do some LostMyStuff volunteer searching. I figure I made a whopping $0.97/hr after factoring in my last sale and all my clad. I'll never get rich doing it this way, but it's a blast!!!

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  #10  
Old 12-21-2011, 03:50 PM
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I've more than paid for my machine in the 8 months or so I've owned it but, as you get sucked in more you tend to upgrade so it's a losing battle most of the time!
My detector cost a little over $200.00 so it was fairly easy to recoup what I spent but you can spend 100 times that much on a high end machine so it takes longer to get back what you spent.
The biggest reason to detect is to rediscover history that would've been lost forever had you not dug it up! Whether it be coins, a ring, or a belt buckle from the Civil War, it's all a part of history.
Welcome to the forum and HH!

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  #11  
Old 12-21-2011, 03:57 PM
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Quote:
Originally Posted by gtoast99 View Post
Well, yes and no. Yes, if I sold all my finds, I'd certainly make more money than I invested in the hobby. But would it equal minimum wage for the hours spent looking for them? Not even close.
Same with me. This will be my best year with clad counts at $300+ and if you factor in the gold & silver I found (that I won't sell yet) it should put me at over $1000. This is hunting for at least 3-3 1/2 hours at least once a week.

So if you calculate 52 hunts x 3 hours = 156 x $7.25 (Min. wage) = $1,131. (I made less metal detecting that I would have gotten working at McDonald's).

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  #12  
Old 12-21-2011, 04:15 PM
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I have pretty much found enough clad, jewelry and silver coins to pay for the 2 detectors and accessories that I have bought this year although I am not selling the coins. I plan on buying an Etrac this next year so I will be in the hole again, but it is not really about making a profit for me. I enjoy being outside, exercise and the thrill on not knowing what will be in the next hole you dig.

Good luck with you new metal detectors and hope you enjoy it.

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  #13  
Old 12-21-2011, 04:25 PM
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I've paid off both of my machines through clad and silver jewelry finds but have yet to turn a profit. I quit for the season when I paid off my Tesoro. Next year, its all profit. Not that I'm worried about it. I love the relics just as much as the cash. Just go out and have some fun and you'll get there. Good times are to be had. HH.

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  #14  
Old 12-21-2011, 05:17 PM
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Default Funny you should ask

I am into my 2nd year and my first machine was used 1 full year, it paid for itself 3 times over. I sold it all, the silver and gold and added my clad. I took that money, and then some, and bought my Baby..The ETrac. In use for 9 months now, I have $415 in Clad, I have 52 Old coins (38 are Silver) and I have 20plus pieces of Silver Jewrly, as well as 5 Gold pieces of Jewrly. I am pretty sure I have my ETrac paid for..that was the goal. This spring I'll be making money..good Lord willing, I'll be able to pick one or two items from the Dollar Menu at Micky D's. I LOVE this Hobby.

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  #15  
Old 12-21-2011, 05:22 PM
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If I sold all I have found in the last 35 years I would probably still be in the hole counting machines, extras, gas, etc. but, like my other hobbies, it has helped me keep my sanity!
Sanity is priceless!

Oh, since I just bought an E-trac, I would definitely be in the hole!
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  #16  
Old 12-21-2011, 05:29 PM
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What other hobby is there that has the opportunity to pay you back? That's how I look at it.

As far as finds, I haven't total value because, like most, I won't sell much. I did cash in my clad the other day, $443.50 + the 21 pounds of pre '82 pennies I haven't cashed in. I've sold four coins and a pin for $188 but most of the rest I will keep. Between coins and jewelry I have 468g of silver and 51g of gold. Oh and $13 in US and Canadian dollar coins.

I'm hoping to find something in AZ this year to justify a GPX5000 to the wife. So, no, there is no profit...but it's a blast!

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  #17  
Old 12-21-2011, 05:57 PM
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I sell some of my junk rings and other garbage for profit. Stuff I don't care too much about. Some of the junk items you don't think are worth much can go for $10,$20, or even $60. I've made $100 on just a couple small items I didn't even consider valuable or unique. Some people will pay for the dumbest stuff.

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  #18  
Old 12-21-2011, 06:19 PM
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Profit? What profit? All I find are dirty pieces of junk metal with no scrap value. Don't find enough clad to even cover a coffee, let alone the cost of fuel, depreciation, insurance, etc. Cover the cost of my machine? That dream is for other people.

But, the thrill and excitement of digging that worthless piece of scrap is beyond explaination.

Merry Christmas.

HH

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  #19  
Old 12-21-2011, 06:22 PM
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Quote:
Originally Posted by gtoast99 View Post
Well, yes and no.

Yes, if I sold all my finds, I'd certainly make more money than I invested in the hobby. But would it equal minimum wage for the hours spent looking for them? Not even close.

And since I don't sell them, I guess I don't make any money!
Same here.

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  #20  
Old 12-21-2011, 06:28 PM
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O -
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equipment-
pain killers-
band aids=
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A good times, you never know what you will find , anything from copper culture artifacts to a 2011 Penny . Not including the great people you meet
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