Just today i started looking into rolled pennies from my credit union. I was just wondering what pennies should i look for mainly and what errors should i look for. I've been coin collecting for a month now so sorta new to everything =)
I just bought 2 boxes of pennies today for the first time. What I'm looking for are older high-grade pennies up into the 1990s. I'll note what wheats I find but by and large I will just spend those as I have more than enough common date wheat cents. I am also on the lookout for pre-1920 pennies as I have never found a coin from before that year for any denomination. Now my problem is rerolling all of these coins, it is tedious and will take alot of time. I have been trying to just search one roll at a time to avoid having to count the coins but this method is also time consuming...
Yea it is time consuming. I was pretty much just dumping them out of the roll then placing them back in as i checked, however i started small all i did was 4 rolls. I got some nice near mint 1977-2011 coins, and maybe a wide am I'm not 100% if it is or not gonna post a picture later. Edit: also should i hold onto all the 95% copper coins and just toss the zinc ones?
Hi Chris, welcome to CoinTalk. For pennies there are a few decisions you'll have to make while you are searching. Some people hoard copper, which are pennies dates 1981 and earlier, as an investment because they were made with 95% copper before 1982, and already are worth more than 0.01. I have had success selling copper pennies on ebay, averaging 1.5x face value on $200 sold, although that probably won't be the case anymore because copper has dropped from 4.50 to ~3.00 in the last few weeks. Most people take out wheaties and any indian heads if they are lucky enough to find them. I take out the Canadians, and other foreign coins I find, just for fun. As for errors, there are a ton of them. This site does a pretty good job of listing the errors to look for http://www.collectorscorner.org/pocket.html As you can see there are so many errors its probably not worth it to look for them all, so pick the ones that interest you. I personally look for the famous 1955 Double Die, the 1972 Double Die, the 1999 Wide AM, and the 1995 Double Die, which is my avatar picture. In about $1000 worth of pennies I have found 2. Good luck!
Thanks for the advice vtvic deffinity will be on the look out for the 1995 =P guessing its best to use a magnifying glass or by plain sight good enough for looking for errors?
I would save copper, some people buy them close to 2 cents a piece, all errors, rare dates, wheats, and unusal stuff. All to all of you saying it's a pain in the butt to reroll cents, It is a pain in the butt so I don't do it. I'm a member of us bank, And they don't charge their members anything to dump coins into their coin counter machine.(I actually just became a member to use their coin counter.)
checking rolls of cents from your bank or credit union is an inexpensive way to enjoy the hobby. I bought a copy of the cherry pickers guide to check for varieties. I am glad I did, I have not found anything great yet, but I am starting to know what to look for, and eventually the law of averages will catch up and I will find something worth talking about
My bank has a coin counter as well but I had a conversation with a teller about it after they started charging 10% to those without an account (still free for account holders). She told me how they pay per bag to have the coins shipped out and all. They also have a notice that it isn't for commercial use. I don't run a business but I don't think they'd like it if I dumped in boxes full of coins on a regular basis. So for right now I'm content with counting 50 pennies at a time (I count by three's) and rerolling them back into their clear plastic wrappers.
Ah that sucks for the banks now i see why mine removed it. Also what other coins besides are fun and profitable to buy rolls of sorry for asking so many questions =P
Every two weeks or so I go to the bank and get a $22 in pennies and 20 rolls of nickles for the war nickles. I bought a pre-1982 sorter off of ebay for $40 that came with 5lbs of copper pennies so I figured it really only cost me about $25. So now it only takes me about a hour to sort $22 worth and then I run them through a royal sovergn auto sorter to roll them back up which takes about five minutes. I used to get the $25 bank boxes but I found the pre 82 ratio to be much lower than just the stuff people turn in hand rolled. I keep all the pre 82s and return everything else.
