70 straps $1 bill hunt in one week

Discussion in 'Paper Money' started by Spiritawahili, Jun 30, 2019.

  1. Spiritawahili

    Spiritawahili Member

    Would like all your viewpoints.

    So you go to your bank and get 10 straps which equals $1,000. Search through 10 straps per day 7 days a week. Except for the search on Sunday you would have to have $2,000, the first thousand for the Saturday search and second thousand for the Sunday search.
    So after the end of the first week you have searched through 7000 bills that are circulated.
    * how many errors do you think you could find?
    * how many fancy notes do you think you could find?
    * how many Star notes do you feel you could find?
    At the end of the week your overhead is minimal. Expenses include fuel for your vehicle, wear and tear, and you may bu yourself a soda, coffee or some beer. Then you have the expense of selling what you find, eBay Etc. You can get free appraisals from American Rarities. Com. Also to go along with that American Rarities is interested in modern paper money. I emailed them and ask them that question and they said sure, no matter what year and what condition.
    Also there is Heritage auctions, Stack's Bowers, and great collections auction houses.
    Any viewpoints would be greatly appreciated, thanks so much.
     
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  3. Jersey magic man

    Jersey magic man Supporter! Supporter

    I do not think that you will find much of anything in 10,000 worth of singles. Maybe 1 minor error note, maybe 1 fancy serial number, maybe 5 to 10 star notes. Assuming these are circulated notes, there is no premium to anything you find. However if you are doing this just for fun, you can find binary, trinary, and older series notes. As well as trips, quads, and higher. If you enjoy the hunt go for it. If you want to make a profit, forget it. Odds are against finding anything worthwhile from circulation.
     
  4. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    It's all about probabilities. No definite answer to your questions.
     
    furryfrog02 likes this.
  5. Dave M

    Dave M Francophiliac

    You'd also need to factor in how long your bank, or even all your neighborhood banks, would be willing to keep selling you a stack of $1's, which you then return a few days later. At some point, they will say "enough is enough" I suspect.

    But as the NJ man says, if this is a fun hobby, then have a good time, but if you're thinking of making money at it, the odds are better by just getting a job flipping hamburgers.
     
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  6. Collecting Nut

    Collecting Nut Borderline Hoarder

    The only answer to your question is to let us know once you have completed this task.
     
    furryfrog02 likes this.
  7. NickJersey

    NickJersey Well-Known Member

    I have been looking at currency in retail for 5 years. Of your list, the most common thing I see is star notes, at least 1 in every 100, sometimes a lot more than that. Probably about 20 fancy serial numbers. I have found 3 error notes, 2 ink and one offset printing. More common to find is old notes (1920's to 1960's), silver certificates, red seal $2 bills (over a 3 day period I was paid 10 sequential 1963 $2 bills in uncirculated condition).

    The problem is you have to go through a lot of bills and see if something catches your eye to warrant a second look.

    Good luck!
     
    Legomaster1 likes this.
  8. Spiritawahili

    Spiritawahili Member

    LOL, flipping hamburgers. That will never happen. I would not work flipping hamburgers for $100 an hour. I'm an Indian and I'll live out in the woods hunting and fishing long before flipping hamburgers comes into the equation. But nice joke.
     
  9. Legomaster1

    Legomaster1 Cointalk Patron

    With searching currency- it’s mostly half luck and half probability.
    I managed to find this note while searching only 2 stacks of $1 notes one day- upload_2019-6-30_20-15-17.jpeg
    The odds of finding a binary in a group from 99,999,999 other notes is 1/8749, or around ONE HUNDREDTH OF A PERCENT. (Relatively small odds).
    So, this was a rare, fortunate occurrence, as I didn’t have to go through 88 packs of $1 notes.

    As @NickJersey observed that he saw 1 star note in 100 regular notes, this aligns with the usual star rate of banknotes produced from 1974 to present day (which is around 0.5%-2%). So, this matched the statistical aspect of it.
     
  10. Spiritawahili

    Spiritawahili Member

    Odds are against finding anything worthwhile from circulation?
    This reminds me of the story. 10 men who don't know each other and they are all married. And each one of their wives tell them... Why are you going to play poker. You can't win. You're going to lose all our money. The odds are against you. And then gives 10 other reasons why this is going to happen. So all 10 men sit down at the poker table and all 10 men lose all their money, correct? Which reminds me of a true story of a man and a woman in Phoenix Arizona. They both lost their jobs and were down to their last $100. Of course they were very worried and fearful of what might happen. The woman gets a thought in her mind to go to Fort McDowell Casino. Her husband tells her how crazy she is for wanting to spend their last $100 at a casino. The odds are against you , he said. So what is the worst game to make money at the casino? It's got to be slots. She put that hundred dollar bill in one machine and just a few spins later won $3,000. Pessimism abounds in your world. So tell me... how do pessimistic people survive as well as they do in this world?
     
  11. Jersey magic man

    Jersey magic man Supporter! Supporter

    Let's not forget that as bills wear they are pulled out of circulation. That increases the odds of finding anything worthwhile in older series, and even fairly new ones. If the average life of a bill is six years ( I know this number is changing due to credit card use, and varies by denomination), alot of not so old notes are destroyed every year. Therefore the odds of finding something interesting only stand for newly printed notes. In general. In my opinion. But it is fun looking for them!
     
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