I was in an accident and have taken up error coin collecting to try to mentally divert the pain. I had a few coins I had thrown in a box over the years and have gotten a few from my bank. I don't think the bank likes me getting the change because I am not a business. I don't want to buy the error coins, the concentration of looking for them helps to divert my attention from the pain. I just want to find some on my own. Well, not on my own because you all are slowing teaching me and I thank you all. Where do you get all the coins you search through? Is EBay safe to buy bags of coins? Thank you for your time and knowledge.
For several years, I used to search boxes of half dollars that I ordered every week through my BoA branch. I had been banking at the same location for more than 20 years. Then I started noticing some coins that looked strangely similar to others I had come across. When I mentioned this to the head teller (who ordered them for me) I learned that BoA has their own regional facility to resupply the area banks with rolls. When the regional facility runs low on a particular denomination, it is only then that they place an order through the Federal Reserve. As a result, all the rolls that I rewrapped and returned to my branch were merely recirculated through their facility. That is when I stopped searching boxes. I don't recommend buying bags through FleaBay. You can "take it to the bank" that they have already been searched. Have you ever considered opening a small account with a local credit union? I used to use a local Teachers Federal Credit Union. I was never a teacher, and you don't have to be one here. It was advantageous because I could use their coin-counting machine for free. If you have one in your area that will allow you to order boxes, this would probably be a better alternative since they most likely order boxes direct from the FRB. Each credit union branch limited any one depositor to $100 through the machine per day, but there were 5 branches within 20 minutes of my home. Chris
If you don't mind foreign coins, check your local coin store. My wife buys 5 and 10 pound mixed bags for a reasonable price. With 100's of countries world wide this will keep you busy identifying them. Oops, I missed the part where you wrote you're into error coins. My bad.
If you explain all that to your friends and neighbors, I bet they'll be happy to trade at face value. Some of them will have jars few. Hint: if you separate out the nickels and pennies, you can get the value of a mix of dimes quarters and halves just by weighing them. Of course your scale might be a little off, but it's going to be pretty close. I use to do that to get my poker winnings without counting all that change
Contact local vending machine operators and ask if they'll let you sift and roll their change for deposit for a share of the profits. You can find their contact information on the front of their machines in almost every case.
Another good avenue. I had no idea that vending machine compainies would that since everything is so automated now. Thank you.
They cannot automate finding extra value in the coins they receive . . . that's a value-added service only a collector can offer them. Some will not be interested, but others may. You won't know unless you ask.
