Myers Depot Metal Detectors

For you coinshooters out there a better explanation of Per Coin Value>

DFX-Gregg

DFX-Gregg

Elite Member
Joined
Jan 25, 2007
Messages
1,168
I am going to post this on a few forums so you may see it elsewhere>

Talking with Monte made me think Per Coin Value showing its importance....let me give it a shot>>>>

Ok first how to do it....then a good example how to use it....

You take your dollar amount you find and divide by the total coins found (Using my numbers in example as of July 3rd)

$301.94 divided by 4394=0.0687 (disergard any numbers past this point).

Ok...simply move the decimal point two places to the right and you come up with your Per Coin Value>6.87

Now I am sure some of you are thinking does it really matter or how can this be important

Well actually it can help you a ton!

Here goes>>>say you find 60 coins on one site and 60 coins on another site. Now you say I did the same on both right? Well actually no...In picking which site to return to you may start to notice your PCV is higher on certain sites!

Remember this does not mean I found $4 here and $3 there, this is a per coin average in cents. I really think it can be helpful in determining which sites to follow up on.

If you visit a site and it rains, or your batteries go dead, or for some reason your hunt is cut short...say an hour. You find 12 coins and leave, total was just $2. Sounds bad right? No sounds good! Your PCV is 16.6!<<<This is a site you want to run back to despite the low dollar amount caused by the short hunt!

Now a negative example>>>

You hunt 3 hours in a tot lot and (you are not one of these guys claiming to find $40)you find 74 coins for $2.15.

Ok lets see how you did....Divide $2.15 by your 74 coins...your PCV is only 2.90 or not even 3 cents! The area you found the 12 coins in would be a better choice to return to in general. Hope some of you find this useful!

DFX-Gregg
 
Good info Gregg, although if I only find a few coins I am happy at the end of the day. But you provided some great information if one is searching for quality instead of quanity. Steve.
 
My PCV for 2006 was 6.39 (2,019 coins worth $129.11)

In 2007 I have focused much more on trying to find nickels, and I have found some better sites for coinshooting. As a result my PCV for 2007 so far is 8.51 (3,768 coins worth $320.80).

My percentages for 2007 are:

p - 42.06%
n - 11.76%
d - 26.19%
q - 18.71%
other - 1.27%

Other - dollars, wheats, silver, pre 1960 nickels, & foreign coins.

I would only add that it may be more insightful to look at value per hour over per coin value. I'd rather hunt at a site where I can find the most coins worth the most amount of money in the least amount of time, as opposed to a site where I find the highest value per coin, if that makes sense. Quality is probably worth more than quantity, but idealy, you should look for a site with BOTH.

Thanks for the post!
 
z118 said:
My PCV for 2006 was 6.39 (2,019 coins worth $129.11)

In 2007 I have focused much more on trying to find nickels, and I have found some better sites for coinshooting. As a result my PCV for 2007 so far is 8.51 (3,768 coins worth $320.80).

My percentages for 2007 are:

p - 42.06%
n - 11.76%
d - 26.19%
q - 18.71%
other - 1.27%

Other - dollars, wheats, silver, pre 1960 nickels, & foreign coins.

I would only add that it may be more insightful to look at value per hour over per coin value. I'd rather hunt at a site where I can find the most coins worth the most amount of money in the least amount of time, as opposed to a site where I find the highest value per coin, if that makes sense. Quality is probably worth more than quantity, but idealy, you should look for a site with BOTH.

Thanks for the post!
Click to expand...


Great response..thank you i really like your numbers also, good work! You are one of the few I have spoke to that seems to be using or has used this system. Actually Monte was talking about it on the whites findmall site and i like playing with numbers. Someone on another site said they have it formatted in a spreadsheet i tried downloading did not work for me! But I see you PCV is awesome fantastic!
 
SkiWhiz said:
Good info Gregg, although if I only find a few coins I am happy at the end of the day. But you provided some great information if one is searching for quality instead of quanity. Steve.
Click to expand...

Thanks :)
 
I have done the PCV calculations in the past -- not to help determine where's the better spot to hunt -- probably more for curiosity's sake. I do, however, pay attention to ratios -- old coins vs newer coins, and THAT factors into where I decide to hunt. Let me explain....

There's an old school (built in 1916) in our town that I have hunted VERY heavily for the past 23 months. So far I've pulled 1,459 coins out of there totaling $92.24. When you do the PCV calculation you come up with a PCV of 6.32, which is not too impressive in my opinion. What's worse is that from a location that old you'd think I would have found some silver. Well that's not the case -- not a single silver coin! That tells me that someone else years ago beat me to the punch and cleaned out the pre-65 dimes and quarters. I keep going back anyway (stubborn!) because they had to have missed some of the silver someplace, and I'm determined to find it! And as far as finding anything else that I consider old....I've found a total of 12 wheats and 1 buffalo nickel. Here's where my ratio calculation comes into play: 1,459 divided by 12 wheats = 121.58, or simply put, every 121.6 coins will be a wheat cent. Not a very impressive stat.

Now compare those numbers with a local park that I've only been hunting since March (6 visits). I've found a total of 94 coins so far, with a value of $4.12. The PCV is 4.38, which is far worse than the school. BUT.... out of those 94 coins, 10 of them have been wheats, which as of right now averages out to every 9.4 coins being a wheat.

121.6 vs 9.4.....you tell me which site has the better potential for finding the old stuff? I haven't found any silver yet at the park, but I believe my odds will be better than at the school.

Just thought I'd share one of the ways that I use my calculations.

Harley-Dog
 
Last edited:
CyberSage said:
Who are the guys who claim they find $40.00? :spin:

Keep Swing'in
Jack
Click to expand...


Hey Jack you must visit treasurenet! < Or should...:) The stories of silver and clad really fly! :)

People have contests and everything else for themselves and the totals get very high!
 
Harley-Dog said:
I have done the PCV calculations in the past -- not to help determine where's the better spot to hunt -- probably more for curiosity's sake. I do, however, pay attention to ratios -- old coins vs newer coins, and THAT factors into where I decide to hunt. Let me explain....

There's an old school (built in 1916) in our town that I have hunted VERY heavily for the past 23 months. So far I've pulled 1,459 coins out of there totaling $92.24. When you do the PCV calculation you come up with a PCV of 6.32, which is not too impressive in my opinion. What's worse is that from a location that old you'd think I would have found some silver. Well that's not the case -- not a single silver coin! That tells me that someone else years ago beat me to the punch and cleaned out the pre-65 dimes and quarters. I keep going back anyway (stubborn!) because they had to have missed some of the silver someplace, and I'm determined to find it! And as far as finding anything else that I consider old....I've found a total of 12 wheats and 1 buffalo nickel. Here's where my ratio calculation comes into play: 1,459 divided by 12 wheats = 121.58, or simply put, every 121.6 coins will be a wheat cent. Not a very impressive stat.

Now compare those numbers with a local park that I've only been hunting since March (6 visits). I've found a total of 94 coins so far, with a value of $4.12. The PCV is 4.38, which is far worse than the school. BUT.... out of those 94 coins, 10 of them have been wheats, which as of right now averages out to every 9.4 coins being a wheat.

121.6 vs 9.4.....you tell me which site has the better potential for finding the old stuff? I haven't found any silver yet at the park, but I believe my odds will be better than at the school.

Just thought I'd share one of the ways that I use my calculations.

Harley-Dog
Click to expand...

Great post I like the honesty more than the ratios in this case! You are right a PCV below 5.00 is not good! I think the PCV of 6.32 is good though! Remember if you use PCV and dig all signals I would guess almost anyone will end up with at least or almost 50% pennies or more!

I have not had a lot of luck digging silver coins either this year been stuck on 4 for months! I do have 14 rings, 2 gold most of the rest are silver, then the usual stuff...a couple pendants, etc.

I also like wheaties so i know what you mean, but I have not worked out my ratios or counted them probably have 30-40 this year not a lot either. Well thanks for the interesting post and good luck! :)
 
This is a great post btw... I really love monkeying around with numbers like this.

Gregg, is there any way for us to figure out what percent of the total coins in circulation each denomination is? Meaning, of all the coins out there, what percent are pennies, nickels, dimes, etc. And then, what is the average value each of all the coins out there? This number should line up a little with our PCV, except that people may be more careful with quarters than pennies so I would expect our PCV to be a little lower.

Another thing... I wouldn't recomend choosing one site over another if the PCV for either is based on less than 50 or even 100 coins. Like batting averages, they can be deceptive unless they are based on enough at bats, so to speak.

Anyway, thanks again for the cool post.
 
Not sure on exact percentages in circulation but it seems like it is mostly pennies!!! :) < For me anyways!! It seems across the forums I post you either love the system or hate it!!! I agree with you on on choosing a park based on low coin finds, PCV probably would not work. I do know certain areas of parks where my PCV seems higher. :)
 
DFX-Gregg said:
Hey Jack you must visit treasurenet! < Or should...:) The stories of silver and clad really fly! :)

People have contests and everything else for themselves and the totals get very high!
Click to expand...


I actually have a link to these forums on my web site. I have not spent much time there. Guess I will go check it out. I can't imagine digging $40.00 dollars worth in one day! My longest and most successful day was just over $18.00 from one school. That just about ruined my knees. :lol:

Keep Swing'in
Jack
http://home.comcast.net/~whitesdfx/
 
CyberSage said:
I actually have a link to these forums on my web site. I have not spent much time there. Guess I will go check it out. I can't imagine digging $40.00 dollars worth in one day! My longest and most successful day was just over $18.00 from one school. That just about ruined my knees. :lol:

Keep Swing'in
Jack
http://home.comcast.net/~whitesdfx/
Click to expand...

Mine this year was $15...so I know what you mean I will send you a couple funny ones later in a personal message... if I can figure out how to do it...the ones that go a little beyond!
 
Gregg -

Went to that little park again today and found 10 more coins (28 cents). My PCV keeps getting lower ($4.40 divided by 104 coins = 4.23), but the ratio of "good" coins to common clad is still holding up. Out of today's 10 coins, one was a wheat (the 11th out of this park), and the park finally surrendered its first silver today--a 1917 Merc. A picture of the Merc. can be seen on a different thread.

Harley-Dog
 
Last edited:
CyberSage said:
I actually have a link to these forums on my web site. I have not spent much time there. Guess I will go check it out. I can't imagine digging $40.00 dollars worth in one day! My longest and most successful day was just over $18.00 from one school. That just about ruined my knees. :lol:

Keep Swing'in
Jack
http://home.comcast.net/~whitesdfx/
Click to expand...

Hope you enjoyed those posts i sent you! Also if you browse around that site you will see a few more!
 
Harley-Dog said:
Gregg -

Went to that little park again today and found 10 more coins (28 cents). My PCV keeps getting lower ($4.40 divided by 104 coins = 4.23), but the ratio of "good" coins to common clad is still holding up. Out of today's 10 coins, one was a wheat (the 11th out of this park), and the park finally surrendered its first silver today--a 1917 Merc. A picture of the Merc. can be seen on a different thread.

Harley-Dog
Click to expand...


Yes the system is helpful for mainly clad coinshooting and it is affected in many ways. A few people use accept/reject options to just accept certain coins or readings so obviously if you just accept quarters that would be your pcv. But in average digging all clad i would say you want to average above 5 cents per coin. Are you at a tot lot, seems by your pcv that pennies are everywhere! But glad you found a wheatie, again this system is not for everyone but have heard of people using it and those who have responded across the forums I post on ....the response has been mainly positive. Good luck and keep on hunting! :)
 
I think that there are also other factors to take into account with PCV.
One of then is the currency and the country where you are MDing. Lets say you come to Mauritius island, you know that Rs 33.00 for $ 1.00, so if you got 10 coins in one day for a total value of Rs 50.00, your PCV would be would be 5 but when you convert it to $... great disappointement, but had fun :) MDing
 
this may help for those who would rahter find the old coins than a lot of clad. Base it basically the same, but instead of face value, take the current date minus the coin date. average the coin date at the site.

example: say you go to a park and find 3 coins. regardless of face value you can take the age and average them. Heck, if you want to get really into the numbers game, give each coin a weighted average. count pennies once, nickels 5x dimes 10x and so on. With a computer this is really simple. Haven't tried it yet... well not on paper, but I guess I always kinda do that in my head already.

I guess you could call it your pca or per coin age..
 
Last edited:
You must log in or register to reply here.

Similar threads

B
1723 hibernia
Replies
5
Views
90
MasonDixonMding
MasonDixonMding
U
Tarlada buldum çok garip bir taş
Replies
2
Views
124
stetam
stetam
Treasure Hound
Confederate bill
Replies
3
Views
332
Treasure Hound
Treasure Hound
M
Tungsten Rings
Replies
11
Views
686
Cherry Picker
Cherry Picker
N
Collection over the years (please help in finding the worth of coins)
Replies
8
Views
902
metaladdict
metaladdict
Back
Top Bottom