I would like to know the general success rate of finding a valued coin when getting rolls from a bank or other sources? This is probably a common question but I have not been able to find content on it. I realize that what I am looking for and the area effect success rate, but if I could get a general estimate I would be grateful. I am thing about starting with 90%, 40%, and 35% silver: Nickels 42-45 Dimes 46-64 Quarters 32-64 Half dollars 64-70, bank doesn’t carry these? Thanks in advance Riker in Arizona
it's so random there's no perfect way to know. the key is searching many many many many many coins...boxes and boxes and boxes...
Not that I get boxes of coins, but the success rates are close enough to zero in ALL cases to have convinced me it's not worth doing.
If you define success by profit vs time spent then I would define the success rate as near zero. If you define it by having something to do to kill time that you enjoy and occasionally find something cool...then I would say it is near 100%.
I asked a similar question and I've found that this is not a for profit thing per se,but something that is enjoyed and an all together learning experience. But it is nice finding something that has value.
The 'success rate' of some in the 'post results' thread is FAR in excess of what's necessary to rent space and open a shop ... PROFITABLY. It's one thing to perhaps have doubts about somes' posted results, but to make such a blanket statement is not understandable here. ???
Not sure who are you are watching on there. Some people do well but not nearly enough to make a sustained profit.
Pretty much this. It's something you enjoy doing for something you would enjoy to keep. Unless you find a 1969 S ddo cent there really isnt a whole lot of profits to be made. And I think you have a better chance at winning the lotto than you do at finding one of those.
ask @furryfrog02 how many boxes/rolls he has searched so far in his lifetime. you will be amazed and shocked as I was/am.
I'm sitting somewhere close to 600 boxes of cents, hundreds of boxes of nickels and dimes, and several hundred thousand dollars worth of halves. Not sure how many quarters and small dollars I have searched. haha.
You should put some kind of mark on the rolls and boxes you've done, so people don't waste time searching them again. I've been a collector for over 55 years and I've NEVER searched rolls, per se. Not stuff from the banking system. I do buy solid BU rolls when I can get them.
All the stuff I go through is dumped back through coin counting machines. My banks don't accept rolled stuff back (at least not in the quantity that I search haha) I know there isn't much return on investment but it's still fun for me. I managed to snag 2 full rolls of silver Kennedy's from the bank this morning while on routine business. 1 full roll of 64p and a roll of 40%ers.
Where I live no one could do that. The only bank that has coin counting machines has two limitations - depositors only, and a MAXIMUM of $25 per day. Otherwise, they charge a 5% premium to count coins. Imagine. Take in $100 in coin and EVEN FOR DEPOSITORS, they give you $95. The "alternative" machines, like at grocery stores, charge a FARRRRR higher rate. At least 12%.
Yeah that’d put an end to my searching real fast. One of My CUs has machines that are free to members so I use those. One time they were broken so they told me to use the coinstar at the grocery store and they refunded me the charge. Those coinstars are a really expensive to use if you just want your cash back.