Coin Roll Hunting?

RIdetector · Oct 27, 2009

Bank boxes are bulk boxes rolled coins come in, $25 box for pennies,$200 for a box of dimes etc.

agbkyle · Oct 27, 2009

I only get 10 rolls of pennies here and there. I enjoy it and it is something to do when the ground freezes.

searcher64 · Nov 1, 2009

Yesterday I went to the bank to check on coins. Asked the teller if she had any unusual coins, she had one. A 1974s Ike proof, not bad for a $1.00, now a impaired proof coin.(:-O)

bolo1010 · Nov 1, 2009

Mike Digg said:
I've been coin roll hunting for about a year now, I'm focusing mostly on bricks of pennies, but have done the occasional brick of nickels. For pennies, like another poster said, is to keep ALL the 59-82 copper memorials since they are worth more as copper than as money, and of course keep all the wheat pennies seperate in another container, and toss all the zinc 82-present pennies back into circulation and keep repeating the process. I also want to mention that there are 7 different varieties of the 1982 penny, they can be either copper or zinc, either small or large date and either P or D mint. The mint switched metals halfway through the year 1982, so I find its best to weight each 1982 penny to seperate out the copper from the zinc. Copper wieghts 3.1 grams and zinc weights 2.5 grams.

For nickels, you might get a couple buffalo's or war nickels per box if your lucky and i've even found a couple V-nickels in bank boxes. You also want to keep all early date CuNi jeffersons in good condition from the pre-war years and even through the 50's. I usually keep all jeffersons dated before 1964 (depending on condition) since these years are starting to fade out of circulation, especially in higher grades.

Half dollars are really hit or miss, you can only score really big by being lucky and in the right place at the right time. The only way to find decent amounts of silver is from customer wrapped rolls that are deposited by someone (mostly older folks) who don't know any better from a pile of coins thats been sitting around for decades. You're not going to get much silver from bank boxes that are constantly cycled through the system that have probably been searched through many time already.

You say you keep all the 59-82 because the copper value is worth more than the money value so I how do you profit off of it? Do you take it somewhere to have it melted down for money or how does that work?

jefff · Nov 11, 2009

best to do is go to bank of america and ask for box of pennys $25 theres 50 rolls in the box. after you look through it go to TD bank and use the penny arcade its free and just dump the pennies in and a recipe comes out go to the teller they will giv me the money. i did about 7 boxs and i was shock all the wheats and dimes i found. oldest was 1909 and alot more!

Mike Digg · Nov 12, 2009

bolo1010 said:
You say you keep all the 59-82 because the copper value is worth more than the money value so I how do you profit off of it? Do you take it somewhere to have it melted down for money or how does that work?

You profit off it by selling the bulk copper pennies to other people that know the value (ebay or realcent are the best sites). You're only likely to get 1.4X face value right now, because anybody can go to the bank and get copper pennies for face value and sort them on their own. People will pay more for already sorted pennies to save themselves time, but not full melt value of 1.9X face currently. The market for copper pennies is very small and will slowly increase as more and more copper cents are pulled from circulation. Also, as copper prices increase over time, the metal value in the coins will also increase. Its almost like a wealth preservation tool, but you have to sort massive volumes to be able to make any significant profit.(ryedale)
You cannot legally melt down copper pennies or nickels, and why would you want to? you have an official coin with known purity already, just keep them in coin form until either the melt ban is lifted, or the penny is discontinued. This is when prices will go up significantly. Also, copper cents are not pure copper, they are 95% copper so any scrap dealer will not pay you full melt value because its considered junk copper with the 5% tin and zinc.
Check out http://realcent.forumco.com/ for more info

Jaybird · Nov 14, 2009

A friend buys the Halves in $500 bricks from a Wells Fargo bank. He hunts about $5000 a month and does fair well. Wells Fargo was charging him a small percentage to take the coins back. Like a proscessing fee.He now uses different banks to buy and return the coins. He has a couple of Walkers and a few Franklins but mainly the Kennedy Silver clads that slip through the Feds hands as they are re-rolled. Some of them have been sitting in reserves quite a while.
Another fellow in our club runs a Vending route and almost every month gets a few silver coins. Mostly from small towns where people are digging into their coins that have been laid down or in drawers where children can get to them. That's only an opinion. HH

stealer · Nov 27, 2009

DriftHappy said:
In the past, my greatest & easiest finds have been searching half-dollar rolls. They are usually hand-rolled and the local banks have very few. I have received solid rolls of proofs, silver, & even barbers that way. The possibility of finding any other silver in circualtion now days is about .01%.

excuse my noobie-ness but what exactly do you mean by "proof" coins

Coin Roll Hunting?

RIdetector

agbkyle

searcher64

Elite Member

bolo1010

Junior Member

jefff

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Mike Digg

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Jaybird

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stealer

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