kindly off topic, but can you guys imagine the key date coins that are put into these things ? I am sure there are alot uf unknowing folks that just dump the coins in for cash. Not to be harsh, but the people I see putting coins in them, dont look like the collector types...
Well they don't take silver coins, so the 32d/s wouldn't go in there, or nothing like a 16d merc, I could see some 16d cents or 09 vdb, maybe S,
Coin Star machines were not designed with the numismatist in mind, but rather the everyday Joe with a jug or two of change who doesn't wish to invest the time into rolling and turning in.
I am not sure about the coinstar machines - but I know that bank machines do indeed take silver coins - because I buy the bags of dimes from them and find silver.
I love checking the Coin Star machines.I'm tempted to lay on the floor and check under the machine. The Wife says I need Coin Star Rehab!
There was a time when you could find interesting coins in circulation. CoinStar machines are helping to return us to that time. Some CoinStar machines do reject silver, although I'm not sure how reliably. I've found maybe $3-5 worth of American coins overlooked in reject slots, and I think there were three silver dimes and a silver quarter in that amount. I've also gone to the customer service counter after a lady went to cash in her ticket, and it turned out that she'd also cashed in some dimes the machine wouldn't take. I picked up seven silver dimes out of that encounter. Then there was the guy who was trying to dump the last of three quart jars of coins when I came by. The machine had jammed, and I saw that some of the coins in the hopper had that funny color. It was too late for the $90+ that he'd already gotten the machine to accept, but I got almost $25 FV of silver that was left. That was what finally dragged me all the way back into collecting.
wonder if coin star would get angry if you put up an add that said you would give face value for the coins? LOL I dont know what coin star charges as a rate, but I know there is an exchange fee...
Umm, without going into too many details - I have arrangements with several commercial banks and credit unions that I buy up all of their over the counter rolled coin and coins that they have run through their counters and bagged to send to Brinks etc. In essence with me buying the coin up at face value, then depositing the trailings into other institutions that I have commercial accounts with and are tolerant of getting lots of coin from me and NOT charging me. I know that when I get rolled coin that has gone through a distributor that I can still find silver, magnetic Canadian coins, and good grief even aluminium Somalian coins at times. So the machines are not "fail" safe. I know that the banks and credit unions I buy from must have machines that reject a lot of magnetic coins, but not silver - and occasionally some Canadian stuff slips through also. Coin machines will not reject coins that are within the size and weight parameters for what is acceptable. Hmm, guess that is why in the past few months I have gotten an 1894, a 1903, a 1905 and a 1910 Liberty nickel. I have also gotten four Indians, an 1891, a 1904 and two 1907s. Lots of Buffaloes - several dozen, nearly 100 silver war nickels from 1942-5 and thousands and thousands of 1940-1959 dated nickels including all the dates so far save the 1950-D. My best nickel find was the 1894, but I also have a 1983 with a large cud. Best cent find is the EF 1925 GV Cent from Canada, but I have also found blanks, cuds, and clips. I generally find a few more errors with cents than nickels. But I also find more proof nickels, back as far as 1962 and lots of 1990s on up. I have only found one proof cent, a 1981-S.
Im going to talk to my bank, and see if they will let me purchase rolls for face value. I do ALOT of business there, and I am hoping it shouldn't be a problem. Once I have sifted through the coins,if i found anything, I could replace it with more modern coin, turn right around, and take it back to them for deposit?
I, too, can buy bags of coins from a bank I deal with, but that's the only bank I use to deposit my coins in (free) so unless I haven't deposited a certain type of coin in there in the past week, I can't buy off them. What I will do again is give it time and buy a couple bags of coins, then be depositing and then have to wait again.
found an 1857 flying eagle cent. cleaned and polished, otherwise not bad looking coin. had a lot detail.
Don't return them to the same bank. As a saying in the roll searcher's thread, "Don't eat where you dump"
Not to mention that you can sort of chaff off the tellers there. At your dump banks you need to have some arrangement, little favours, with the tellers there so that they don't have a problem taking lots of coin. I authenticate stuff they have come in, take stuff they cannot get rid of that they do not want in the vault etc. Gift cards are always appreciated too. Most of my banks order stuff for me, did I mention gift cards? Surprising how accommodating I find tellers to be.
So right. You don't want to be perceived as someone who is just "using" them. No one likes to be "used".
laying on the floor in front of a coin star machine, that is what my 5 year old is for, he almost always finds something his little arms can reach down there.
