Coin value vs. time of sorting through loose change.

Hello everyone. I'm not really a collector other than saving wheat pennies or silver quarters I notice I get as change from my purchases. For over a year I have been saving my coins as a means of building funds to buy a new "toy" of some kind .

So....my question is should I just bring it to a coinstar or similar automated counting machine or should I sort through all of it to see if I find any coins that may be worth quite a bit more than face value? I have no idea what to look for, or what the best process is for looking for valuable coins. I know that there are both new and older dates to look for between errors and low mint productions of specific coins.
Is it worth spending hours sorting through change?

I've got plans for the money now (membership at local dog park) so I'm looking to do something pretty quick.

Thanks in advance for your help!:hail:

 

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Roll it yourself and take it to your bank except for pennies take that to Coinstar.

Bank might have a counter they can run it through for free also.

You're not likely to have anything and you know about the silver and wheatbacks.

 

I wouldn't do coinstar, **** having them take 10% of your money. Although their machine does kick out silver, so...

There are local credit union machines that do the same thing, though... free, to boot.

 

Agree. I do business with banks who will accept my change unsorted for free. I do it on principle, even though I may only take change in once a year I will not do business with banks charging me or telling me to roll it before they will accept my deposit.

 

I sort every coin I get, and even purchase boxes to search. I love the posting that stated you weren't going to find anything anyway. LOL This year I found a 1988 D RDV-006 cent. There are fewer than 12 known at this time and when I sent it for authentication and grading, it came back as a AU55. That makes it one of three with none showing in the higher grades. In fact, the ANACS show a total population of 4 coins, including mine.

You will never find treasure if you don't look for it. The more who pass items along, the better for those who seek them.

It's entirely up to you, whether or not you are an error and variety collector who looks through circulated change, or a PCGS Slab buyer. How and what you collect are personal things that cannot be dictated by others.

Worth the time ? Probably not, yet again, I get pleasure out of searching, and I find enough items of value to feel the time is well spent.

As to wrapping the coins for return ? I do. What is sorted gets placed in different bins. When the "dump" bin is full, I count out a roll at a time, wrap it and toss it in a bank bag. When the bag is full, I dump. That way, by changing banks, the same one doesn't see me too often. LOL


gary

 

Thanks everyone for taking the time to respond!

First, I am pretty "frugal" when it comes to spending money and would be using a machine at my credit union to exchange my coins for free. I was using "coinstar" as a generic name :foot-mouth:

Gary, you sound very knowledgeable on what to look for when sorting. I'm far from being educated on what dates or other markings makes one coin more valuable than another. I enjoy treasure hunting when I know what to look for, but I fear I would have to have a book next to me and look up each individual coin (taking a lifetime to sort). As far as my own collection I guess I find errors more interesting than a penny that looks the same as millions of other pennies with the exception of the mint mark. In that case I would be more interested in getting fair value and passing it on to someone who finds rare mint marks most interesting.

Is there an "easy" way to sort coins while looking for specific details? What is the probability that I will find enough coins to make it worth spending all the extra time inspecting them? If 1 hour of sorting quarters only nets me a few coins worth $3 over face value I think I'll just let the machine sort it. On the other hand if sorting 1 hour nets me $10+ over face value I would consider spending the extra time.

 

while sorting you may stumble upon a coin worth $100 or more,so the thrill should make you sort.regarding knowledge just go through old threads of coin talk,i am sure you will become wise before sorting.

 

I have no idea what that is, neither would the OP.

You can't search modern coins w/o knowing what your looking for. I just wouldn't bother with it.

What is this variety worth ?

some catch on, some don't.

This guy would just be wasting his time looking through pocket change.

 

No way in Hell does a newbie spot this....

http://www.lincolncentresource.com/Featured/1988RDV6.html

This is a super specialty item. I'd bet most average dealers aren't aware of it.

It lacks the WOW ! appeal of a 1955 DD ( i think about 30,000 + exist). I'd love to see a price on your coin...I'm betting far below that of a 55 or 72 DD, even if there are only 20 known or so.

 

I just made you guys all aware of the variety. There are many sources of what to look for in pocket change and all are free. I was not even aware of the variety until this year. But there are all the WAM and CAM cents out there. The 1992 D CAM, 97-00
WAMs, etc As you collect, you learn.

I would not take less than 10k for my coin right now, as that is the value placed on one held by a collector in Colorado, regardless of what value anyone else would give it. With only 10 known and 6 of those discovery pieces in the hands of a single individual in North Carolina who told me those were "Not for sale as long as I live". Although "scarce", the Phillys are around. The "Denver" ones may be the rarest transition coin yet. And no LMC collection can be considered complete without one. I know the difference in the die variety change is slight, but it is there. And it is truly a 1988/89 coin. It is my belief that there will never be more than 100 of these ever found as they were only minted while the obverse dies were being prepared for installation, the reverse dies being placed in the stamping machine first.

However, the Lincoln Resource site has some very good lists to look at. And even a novice can spot die cracks, doubling, offsets, etc. As you study, you learn more and more. But, face it, some people have no interest. But I assure you, it only takes finding a single treasure to get gung ho. At least that's what happen to me when I got a 1942 micro S Mercury dime in change many moons ago.

Is it "worth it" ? Only the individual can say. But it gives me many hours of fun, where as my time would have been spent watching Oprah or Judge Judy or some other completely useless endeavor. Who can really say what a hobby is worth except for the individual ?

 

Coin counters don't always kick silver and older coins back out. How else do you think people find silver in bank bags? Just sort it yourself first.

 

Just cash it in. Silver is rare and easy to spot edge on and since you're not a collector why bother investing the time to learn what to look for and sort/examine pocket change?

 

best place to sort out change is in a laudromat...
i've gotten a lot of silvers in their change machine...
and a whole bunch of state quarters...try it out.

but I always sort out my change...no matter what..

good luck and happy hunting
-acsf89

 

I will admit that I have no idea what grade is the best yet, but I'm in the process of dividing my coins in to different piles already. Eventually I'll buy a red book to check values, but to start I bought strike it rich with pocket change (after finding it named in a post located in the "similar threads" section at the bottom of this thread).

I'm in the very early stages of examining some of the older quarters that I have separated and will be posting question about descriptions of some of the markings described in the book.

Thanks for all the feedback. :thumb:

 

Are you just trying to replenish your area's supplies?

Weber, I'm assuming you're in the US. Look for any dime, quarter 1964 and older. Half dollars 1970 and older

 

Also save any coin with an "S" or "W" mint mark as well as anything that looks "funny". And 2004 Wisconsin Quarters.

 

Look through those coins. There might be something valuable. Pluss you can get free coin rolls from your bank.

 

what about nickels

 

I have been collecting my loose change since 1965 I have 18 gallon containers (Lots Of Coins) I have an interest in going through them. How should I start?

 

Gary. What source do you use to figure out values?