How Many of You Coin Roll Hunters purchase silver too?

One of my sons is in Pecos he does somekind of corrosion work in the oilfield and municipalities and his older brother is in the oilfield but working around here right now.

 

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When oil was booming it was crazy near Odessa. Still a lot of growth going on out there. A lot of Wind Farms being built in that area too.

 

First, not all banks will give you their halves if you don't have an account. Wells Fargo is a stickler on this but I've bluff my way into getting them. So I have accounts at four banks, my main account for everything is a credit union. My three others I set up savings accounts in with minimum amounts as custodial accounts, that way it's a minimum deposit of $25. I order my boxes from those three banks but never dump there. My credit union stopped allowing me to order coins. Oh well, I use their coin star counter fee free. I order anywhere from $1000-5000 a week.

Second, I visit probably 40-100 banks a week depending on my work schedule and I cover SC to Deleware for CWR and teller loose halts. It has been exhausting work. I have tried to see what days of the week are best and it seems Monday's are the worst, Wednesday the best, other days are hit or miss. Keep visiting the same banks once a week. Ask if they have any in the vault if they say they don't have any in their front end. Usually the head teller will know. Good Luck.

 

Thanks very much for your detailed feedback!

 

Truble gave us a good account of how he does it. Lots of effort but with the amount of silver he has that's pretty rad. I am still interested to know if there are Coin Roll Hunters that buy silver too. I do and it's great because it keeps my cost per ounce down. I did 40 rounds at $19.75 ($21.00 for dealers premium) and 10 Superman Maples at $23.00 an ounce but I don't feel too bad because with CRH I am still at $16.70 an ounce. Some say the time it takes isn't worth it but for me I get so much fun out of it that it's an enjoyable hobby that I actually make money doing. So anyone help their cost per ounce of silver with CRH?

 

I like to go to my dealer and buy some silver out of the junk boxes when the price drops... Sometimes I find some nice little prizes. I've pulled several Pre-1940 mintmarked (including a couple of 37-S's), 1932, 1940-D, 1946-S, and 1955-D Quarters, for example.

 

OK, I made an eXcel spread sheet charting my silver value. I have purchased a lot more silver than I have found CRH. Right now my average cost per ounce is $17.03. I have decided to not purchase any more silver this year and rely on CRH for my supply. I need 20oz more to get my average cost per ounce down to $14.37. This is a very doable number as that is what I have done in the full four months I did this. (I did not hunt in all of January, June, and July.). The reason I am doing this is I bought some high premium stuff that I want to have a safe guard against losing money from.

 

I bought 90 silver quarters a few weeks ago at 15XFace. Figured you have a slim to none chance of getting them CRH so buy them at retail.

 

With the market correction on silver I need to really get CRH halves to avoid any loses. It dropped $2.00 an ounce in August. I really need to get 15oz from CRH fast. That will give me a safe cost per ounce if the Silver market really tanks.

 

Other than silver, you can look for NIFC coins (any proofs or 02-now). Also be on the lookout for modern silver proof halves. I've gotten a few (sadly not from CRH).

 

Over the past several months, I've paid anywhere between $3.25 and $3.60 per coin at my dealer... I didn't buy any when silver was in the $20+ range.

 

I paid $3.75 per quarter which was $1.00 over spot at the time.

 

I typically pay about 10% over spot. I could've bought those same quarters for about $3 or so per.

 

I plan to get another 30 to complete my third role.

 

Hopefully you have access to other sources of silver.

 

I have access to every kind, I just am into quarters right now. I cherry pick the ones in the best condition. Not for numismatic value but for bullion value. Some dealers will ding you when you sell back to them if your 90% is highly circulated and missing some metal.

 

Yeah... but I'm talking about the price you're paying... paying $3.75 for quarters out of the "junk" box when their spot price is $2.75 per is not a good thing. A reputable dealer would've sold them to you for around $3 per. I'm guessing you would be paying $4.25-$4.50 per coin if you bought more from this source today... right now, I could walk into my dealer, and get them for about $3.65 per coin, and cherrypick the more "numismatically desirable" ones out of the "junk" box.

 

I paid that price when spot was $19.75 a few weeks a go. My math might be off but I remember it was a decent purchase. He sold his 90% at 15xFace and bought it back at 14Xface when spot was $19.75. He sells rounds at $1.25 over spot and ASE's at $2.50 over spot. He buys rounds back at spot and ASE's at $1.50 over spot. Do you thinks that is a good deal? Or should I look for another dealer?

 

OK, I saw a post where you said you paid $3.75/per when spot was $15. At $19.75 $3.75/per is actually a very good price.

 

Must have been a typo. I go to a lot of coin shows and two coin clubs a month and dealers show up. I have talked to a lot of them and the guy I am dealing with now is giving the best prices.