MetroCard Magnate Has Resold Unused Fares For $20K

There's gold in that card (Clint McMahon)

A Brooklyn man is turning a tiny portion of the $52 million in unused MetroCards into cash. In a business model akin to the OTB truffle-sniffers of yore, 41-year-old John Jones finds discarded MetroCards on the ground in various subway stations, combines the fares onto new cards, and resells them at a discount, and estimates that he's made around $20,000 over the years. "I'm surprised that people just toss money away," Jones tells the Post. This past holiday season, he found $1,500 worth of unused fares, and was able to sell half of it. No machine-tampering necessary!

Jones began his business model ten years ago after finding a jackpot MetroCard in Grand Central. "It had $33 on it. That was when the fare was $1.50. From that day on I've been doing it." He says the average amount on the cards that people apparently wouldn't be caught dead carrying around is $1.70. When Jones is able to combine several cards into one $5 card, he sells it to commuters for $4. Hmm, lower fares! Why didn't the MTA think of that?

The Post's story notes that "the MTA doesn't like Jones' enterprise" but declines to elaborate. While Jones' activity appears to violate sections 1050.4 and 1050.6 of the code, that isn't exactly uncommon. And MetroChange, the organization that donates unused fares to charity, apparently lacks the necessary approval of the MTA as well. We've reached out to the MTA and are still awaiting comment.

Jones has been arrested twice in the past several weeks for unlawful solicitation and illegal access to transit services, but he vows to fight the charges in court. "Of course finding something is legal," he says.

Contact the author of this article or email tips@gothamist.com with further questions, comments or tips.

By Christopher Robbins in News on January 8, 2012 12:10 PM

Comments [rss]

e non

there was a nyt story a couple of years ago about a guy who had been picking up the otb receipts that were discarded; and was able to earn a nice annual salary doing so:

http://www.nytimes.com/2009/12...

Big Red

Interestingly enough, valid NYC MetroCards are the only transit payment form that is not allowed for sale on eBay: http://pages.ebay.com/help/pol... (click "Other"). No other city's transit system is mentioned.

splicernyc

Probably because this "restriction" has not been challenged in court. I'm sure they have the same attitude that the RIAA does about music, that I'm not buying a CD, I'm merely licensing its use until some prospective time when the record company will pull my license.

Greg Froober

who gives a fuck if the MTA "likes" what he is doing or not? He doesn't need their permission. I fail to see how it is even remotely illegal.

cr17

If you see a Metrocard on the ground where it shouldn't be (like near a turnstile or bus-stop) chances are it has money on it.

e non

uh, folks, just take those cards with the $.45 remaining to a station clerk. they can combine the remaining money onto another card. even expired cards with money remaining can be transferred. hell, i might start picking up some of those discarded mta cards...

grandeur1

The cards I often try to reuse are no longer able to be read by the turnstile. So I always end up loosing 1.70 unless I want to send in a .64 stamped envelope to the mta, I loose that.