Where to Start?

Hey everyone. I recently decided to give coin roll hunting a shot. All I've done so far is pick up $11 worth of half-dollars from my bank. Of course, I came up empty. I've looked for articles and posts on how to start but they all seemed fairly outdated. Anyway, I only have a couple hundred dollars to work with, but I have plenty of spare time. So what denominations should I work with? How do I go about ordering rolls or finding a dump bank? Any other advice?

Thanks so much in advance!

 

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I say flip a coin...just kidding. It depends on what you are looking for. Volume wise, I would get rolls of cents (see I didn't say pennies) or nickles. If you are looking for silver take your choice. I personally have found several silver dimes in rolls. I don't think people look a dimes that closely,

Gene

 

I know that 50 cent pieces come in $500 boxes, but how much do you order at a time with the other denominations? I think I might want try out a couple denominations to see what I like the most. Also, what am I looking for in nickel rolls? Mostly just Indian nickels and V nickels?

 

This thread is your friend: http://www.cointalk.com/t10176/

Everything you want to know is there.

 

Half dollar rolls definitely have the highest number of silver finds per roll, ask the bank if they have any large dollar rolls, too, you may get lucky. Cents have a good chance of about 10+ wheaties per box, while nickels are pretty random. Quarters are much harder than dimes to find in silver.

 

Actually in the nickles there are several things to look for. There are some key dates in the Jeffersons, silver wartime nickles 1942-1945 (not all 1942 are silver) (easy to spot, mintmark is large on the reverse above the dome) 1950-D, 1951-S, 1954-S, 1955. Of course you do want to look out for Buffs and V nickles, which on rare occasions turn up. I would start modestly, you can get a lot of cents and nickles for $50 from the bank without having to order. Definately try a mix of rolls and see which you prefer.

 

I am just saying that in my experience, with all those things to look for, I have gone many boxes without success, then a box with a few different keepers, IMO nickels are harder than some other denominations of rolls.

 

I really appreciate the advice I'm getting so far. Can anyone recommend a good coin book? I see several references to coins that clearly are not silver, and I need to know what else to look for.

 

I agree. Nickel rolls are definitely hit and miss (more miss). Half rolls definitely are the best producers for silver, especially 40% coins.

Gene

 

What do you mean by large dollar rolls?

 

Like presidential, sacagawea and susan b anthony dollars are small dollars, while large dollars are eisenhower, and possibly a peace or morgan

 

I'm confused. If a bank received a roll like that, wouldn't a teller immediately snatch it up? Aren't all of those good coins? I mean, it sounds like you've already won if you find a large dollar roll. Is that what you meant? That I might get lucky by finding a large dollar roll?

 

I personally have never found one, but I have heard stories of them being found. You do have the slim possibility of getting lucky and finding one, and maybe a bank teller doesn't collect coins or hates their job and doesn't care what comes in. You never know!

 

Gotcha. I have a couple more questions. What about newer coins? I saw someone talking about 2009 dimes in the thread mentioned above. And what does AU and BU mean?

I am so appreciative of everyone's advice. I'll try not to take up any more of your time after this and do some research on my own. Hopefully, I'll be posting my finds next time I'm on:smile

 

Banks get large dollars on occasion. Ikes are not too terribly uncommon, I've got maybe a total of $400 worth from banks. They sell for a small premium on ebay. I actually have about $30 worth that I've been meaning to list right now.
AU is About Uncirculated, BU is Brilliant Uncirculated. It doesn't sound like you're much of a coin collector, so what are you roll-searching for? Just looking for silver? FYI, depending on how much you value your time, it's not a great way to make extra money usually. You can get lucky, but love of the hobby is what I do it for. I'd pick up a 2012 redbook to learn about coins before searching rolls.

 

I really just planned on looking for silver. But now as I look through this site, I see a bunch of things that are unexpected. Also, I have plenty of time to kill at the end of my day. I usually end up watching TV or surfing the net. I figure I might as well do something to make a little money while my brain wastes away to nothing. Ha.

 

I also see people making special trips and taking off work. I don't plan to do any of that. I just want to devote some time to it before I go to bed.

 

If you are looking for silver you may not be able to afford halves, in that case I would recommend dimes, 250/box. I too am new to coin roll hunting but I have found many silver dimes. Best of luck

 

Honestly, I can recommend three resources for you:

1) The Internet (do a search for errors on the particular coin roll you are searching, I know Ken Potter has a good website with photos and explanations.)

2) Coin Talk (part of the Internet, but you're here, so let's just consider it a good resource.)

3) Cherrypicker's Guide to Rare Die Varieties (These are going to cost you money, but they will have a bunch of stuff to look for listed in there, with photos, descriptions, rarity, price, etc.)

I search boxes of halves when I have the money and boxes of nickels when I don't. Every once in a while I will buy a few boxes of cents to pull wheaties and coppers. Haven't searched a dime or quarter box since about 2005. NEVER once seen a roll of large dollars - although that would be pretty amazing if I asked and they said, "Sure, how many do you need?" Kinda like winning the lottery or getting a hot girlfriend. Nice work if you can get it.

 

BTW...I have three bank accounts:

# 1 is a Credit Union. They are always very nice about ordering me rolls.

#2 and #3 are national chain banks that I use as dump banks. I try to alternate when I take coins in so they don't get angry. I'd look around and see which have coin counters and which don't (a lot of them are removing the counters from the branches, since they don't really make the banks any money. The whole "let's get rid of the things people actually NEED banks for, because those things are not profitable" thing.) I rationalize my behavior by saying that the chain banks are investing my deposit money (and making money off me) so I can use them for things that make ME money (dumping $2,000 in halves every week.) Get yourself two sturdy canvas bags with handles, too...really helps. Sometimes the banks will let you keep the canvas bank bags...which are nice, except when they get full and you have to pick them up. I have four US Census bags that I was given after the Census wore down...canvas, handles, two pockets on the outside. Holds about $1,000 very nicely.