Coin Roll Hunting FAQ v. 2.0

Discussion in 'Coin Roll Hunting' started by model77, Mar 10, 2012.

  1. model77

    model77 Silver Stacker

    Red text means I would like confirmation from other members

    What is coin roll hunting?

    Buying coins at Face value and searching them for valuable coins that are silver or rare.

    What is the success rate on finding silver coins?

    READ THE RESULTS THREAD. It is different area to area depending on how picked over it is. Consistency and patience is also vital in this hobby. You will have good periods and bad periods. You just have to keep going and it will all even out.

    What coins should I look for?

    Dollars

    Silver:
    1878-1921 Morgan (90% silver) 0.7735 troy oz silver per coin
    1921-1935 Peace (90% silver) 0.7735 troy oz silver per coin
    1971-1976 Eisenhower (40% silver) 0.3162 troy oz silver per coin
    *not all Eisenhower (Ikes) are silver check the edge and if copper is showing it is clad.

    Other keepers:
    Eisenhower dollars often sell for a small premium over face value even if they are clad.
    Key dates: ????
    Proofs and silver proofs
    Common error coins: ????

    Halves
    Generally consider the most productive coin to search for due to low circulation and high silver content.

    Silver:
    1964 and older (90% silver) 0.3617 troy oz silver per coin
    1964 to 1970 (40% silver) 0.1479 troy oz silver per coin

    Other keepers:
    Low mintage: 2000 and newer
    Proofs and silver proofs
    Common error coins: ?????
    ???????

    Quarters
    Generally considered the least productive coin to search for due to high circulation and large modern date mintages.

    Silver:
    1964 and older (90% silver) 0.1808 troy oz silver per coin

    Other keepers:
    Many different sets that some consider collectable such as state quarters and the national park series.
    Proofs and silver proofs
    Common error coins: ????
    ???????



    Dimes

    Silver:
    1964 and older (90% silver) 0.0723 troy oz per coin

    Other keepers:
    Proofs and silver proofs
    Common error coins: ????
    ??????

    Nickels

    Silver:
    1942-1945 war nickels (35% silver) 0.0563 troy oz silver per coin
    Not all 1942’s will be silver. Look for the large mint mark on the reverse above the Monticello to confirm it is silver

    Other keepers:
    Buffalo nickels
    Low mintage: 1938, 1939, 1950-D, 2009??
    Proofs and silver proofs
    Common error coins: ????

    Pennies

    1859 to 1909 Indian head pennies
    1909 to 1958 Wheat back pennies
    1943 steel pennies
    1981 and older have a high copper content. (0.0065 lbs of copper in 1 penny) At the time of this writing each penny contains 3 cents worth of copper. They are currently illegal to melt for the copper however many feel that will change in the future.
    Low mintage: ????
    Common error coins: ????

    Common abbreviations/expressions:

    CWR – Customer Wrapped Roll
    BWR – Bank Wrapped Roll
    LCS – Local Coin Shop
    Ender – A coin roll that has a valuable coin showing on the end of the roll
    Bender – Ben Franklin half showing on the end of the roll
    Wender – Walking liberty half showing on the end of the roll
    Kender – 1964 Kennedy half showing on the end of the roll
    Lil’ Kender – 40% silver Kennedy half showing on the end of the roll
    Roosie – A silver Roosevelt dime
    Merc – A mercury dime
    Frankie – A Franklin Half dollar

    What does a box of coins cost?

    Halves - $500
    Quarters - $500
    Dimes - $250
    Nickels - $100
    Pennies - $25
    *Each box of coins contains 50 rolls

    Where can I get coins?

    Anywhere, Everywhere!! You never know where that shiny silver will pop up!
    -Check your pocket change.
    -Check your change jugs and piggy banks.
    - Check the coin machine reject tubes
    -go to banks and ask for coins. You can ask for teller tray coins, CWR coins, or boxes of BWR coins.
    - Once you’ve become fully addicted you will not be able to find as many coins as you want by driving from bank to bank. You will want to build a relationship with a couple branches so that you can request that they order boxes of coins for you.
    -If you go bank to bank you will find most will be willing to give you what they have in inventory to a point. Rarely you will be able to buy or order boxes if you do not have an account with them but it has happened.

    Do deliver companies like Brinks, pull the silver out of circulation with their sorting machines?

    If they did none of us would be finding any! So far it does not seem as if the value of silver has been attractive enough for them to make those costly alterations to their machines.

    Should I order rolls of half dollars off of ebay?

    If you like to waste money you absolutely should! These rolls were purchased from the bank for $10. Why pay the seller $17 or so for them plus shipping when you can just go to the bank yourself? You odds of finding silver are the same or worse with these ebay rolls as they are either truly unsearched like the rolls you can get at the bank or even may have been tampered with or weighed to determine if there is anything good in there before selling it on ebay.

    Should I have to pay to order boxes?

    No. At least not yet. Some banks will say that they have to charge you a per box or even per roll fee. This is their way of saying they don’t want to deal with you. Simply look for a new bank that will not charge you these fees. You should not have trouble finding one.

    What do I do with the coins I don’t want?

    You can spend them obviously. If you are doing high volume or want the cash back so you can purchase more rolls to search you can deposit or exchange them for cash at a bank you have an account with. Please always put yourself in your tellers shoes and be as considerate as possible as this makes a lot of work for them and they may choose to stop taking or giving coins to you if you over burden them. I recommend spreading your “dumps” out over several branches so that you are not burdening the same teller multiple times in a week.

    It is best to try to build a relationship with the tellers. Tell them about your kids. Ask them about theirs. Bring in gift cards or bagels from time to time. You want them to be happy to see you not cringe each time they see you waddling up with 50lbs of coins. Maybe they will start keeping the good stuff for you or calling when it comes in!

    Can I turn in my coins at the same bank I got them at?

    Don't dump where you eat! Most consider it bad Etiquette to turn in coins to the same poor teller that had to haul them out for you. It is also counterproductive as it greatly increases the odds you will receive the same coins next time.

    What should I say to the teller who asks about all the coins I am buying/dumping?

    It’s surprising, but many tellers do not realize what they have or what coins are valuable. Most here seem to feel it is a bad idea to let them know which coins are valuable. No reason to increase your competition right? Tell them:

    -you’re a collector filling books
    -your saving collectable coins for your kids college fund
    -you’re an artist
    -your boss likes to pay you in pennies
    -you get them for your grandpa to sort through, he doesn’t get out of the house any more.
    -Tell them to take a hike
    -Tell them whatever you want! It’s none of their business really but they will be curious, and it’s best to be polite and build a good relationship with them.

    Where can I sell my Silver coins?

    Sell them? But why? If you must, you must!

    -Best option is to sell them person to person with a local collector or on this site. You should be able to get full melt value for them.
    -You can sell quickly at a local coin shop (LCS) but they have to make a profit so they will pay you less then melt value for them.
    -You can sell on ebay or similar sites. Be cautious and know what they will be charging you in fees though. You may think you got a great price, even over melt, but after the fees you may have lost out.
    -you can sell on Craig’s list but expect many low ball offers. Use caution. Meet in a public place with security cameras such as a bank. Arrive before they do and leave after they do so they cannot see your car plates. Only accept cash. You do not want a check to bounce as you will never see them again. You do not want them to be able to track down where you live since they know you are stacking silver.
    -Coin auctions
    -online bullion warehouses.




    References:

    This page is a link to all coins that contain silver (both US and Canadian)
    http://www.coinflation.com/silver_coin_values.html


    This page is a link to the coin calculator to find silver content and value at current spot
    http://www.coinflation.com/coins/sil...alculator.html


    Red book
    Research coin composition, years produced, mintages, and known errors

    Ebay
    Research coins average sale price, and supply/demand
     
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  3. clorox

    clorox Member

  4. clorox

    clorox Member

    -Branches that do a lot of business with local merchants are more likely to have boxes on hand and sell them to you without a fuss.
    -A box of small dollar coins has 40 rolls of $25, for a $1000 box.
    -Some banks use $500 boxes of dimes (100 $5 rolls) instead of the standard $250.
    -Branches that only take rolled coins are usually willing to give you wrappers free of charge.

    1987 and 2002 and newer halves were sold as collectibles only (NIFC: Not intended for circulation), so these are the lowest mintages of the clad era.
     
  5. bluemastiff

    bluemastiff Member

  6. model77

    model77 Silver Stacker

    SmilingCat and Pixl Pirate like this.
  7. bluemastiff

    bluemastiff Member

    just thought it was interesting where it said ....They've also been sorting through $14 million worth of half-dollar coins from throughout the country to cull silver coins made before 1964. ..... That be alot of rolls
     
  8. model77

    model77 Silver Stacker

    bump because:

    -seem to be lots of newer searchers on board recently

    -still looking for input on this and key date, error to look for. I suppose I could pull out the red book but I bet you guys could mention a bunch of other stuff as well.
     
  9. model77

    model77 Silver Stacker

    Edited for Memorial Cents only:
    1960 small date/large date/large over small
    1960D small date/large date/D over D, small over large
    1969S Dbl Die Obv
    1970S small date (High 7)/large date (Low 7)/Dbl Die Obv
    1971S Dbl Die Obv
    1972 Dbl Die Obv
    1979S Filled S/Clear S
    1981S Filled S/Clear S
    1983 Dbl Die Rev
    1992 Close AM
    1992D Close AM
    1995 Dbl Die Obv
    1996 Wide AM
    1996D Wide AM
    1998 Wide AM
    1999 Wide AM
    2000 Wide AM ​

    Read more: http://www.cointalk.com/t202709/#ixzz1pap90X00
     
    Dynoking likes this.
  10. Atreides

    Atreides New Member

    I guess for quarters I'd put that Wisconsin error/variety, I'm not sure about other common state/territory quarter errors and varieties though so maybe someone has a list floating around

    edit: maybe here? http://www.cointalk.com/t39176/
     
  11. Lon Chaney

    Lon Chaney Well-Known Member

    The big Ike Varieties are the 1972 Type 1, 2, and 3; 1976 and 1976 D Type 1 and 2, and the 1971 FEV. ikegroup.org has good info. Also 1973 dated Ikes are NIFC. There are non-proof 40% Ikes, with S mintmarks.
    And for the ebay part, I'd mention to search completed listings.

    Nice FAQ, by the way. Should keep the results thread a bit cleaner.

    EDIT: Also Sacajawea Dollars are NIFC 2002-2008. I'm not sure if the 2009 and later changing reverse designs are NIFC. Also you could mention the Cheerios dollar variety with Sacs.
     
  12. clorox

    clorox Member

    I think I remember that. They put a Sac dollar in each box, right? Was there anything different about them?
     
  13. Lon Chaney

    Lon Chaney Well-Known Member

    Yeah, they were minted in 1999, to be including in Cheerios boxes at the beginning of 2000, with the 2000 date. There is a different reverse on the Cheerios dollars, you can tell by the more detailed tail feathers.
    http://www.smalldollars.com/dollar/page20c.html
     
  14. model77

    model77 Silver Stacker

    It's cool that they decided to make this a sticky. I hadn't even asked anyone specific to do that. It appears though that I can not do any editing at this point, so it is what it is. people will have to read you replies to get the info you are sharing.
     
  15. Inquisitive

    Inquisitive Starting 2 know something

    Dimes: there is a 1996 W minted dime. That is a keeper (if you can find one).
     
  16. AUtiger

    AUtiger New Member

    I quickly check every half dollar for obvious errors (struck thru grease was apparently an epidemic so don't bother keeping them unless it's an extreme case). The most well known are the 1974D doubled die and the 1982P "No FG". I've found a couple of the No FG's but haven't gotten a 1974D DDO yet.
     
  17. orenthal

    orenthal Junior Member

    not every box. i think it was only every 2000th box - 5500-ish total coins.
     
  18. tudrfl5

    tudrfl5 New Member

    I see on the FAQ page that melting pennies is illegal, but that ones dated 1981 and prior have higher copper content. It seems that keeping all pennies from that time would amount to ALOT of pennies. Do people actually do this? I am new to coin collecting and would love to hear from others. Also, does anyone know why it is illegal?
     
  19. Lon Chaney

    Lon Chaney Well-Known Member

    I kept enough pre-82 cents to fill 2 boxes, then I stopped keeping them.
    And it's illegal to melt them because they don't want the supply of coinage dropping radically. Honestly, by now, there are enough zinc cents that the ban could be lifted. But I don't think it will be anytime soon.
     
  20. tudrfl5

    tudrfl5 New Member

    Thank you! I have found a few wheat pennies. I need to check for the error pennies. So far I have just set those dates aside. Very exciting treasure hunting!
     
  21. tudrfl5

    tudrfl5 New Member

    oops...I didn't realize that the thumbs down icon was pressed. So sorry!
     
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