Dealer group plans nationwide ‘coin hunt’ in April

CoinWorld Link



Excerpts:

"Rob Oberth and Roundtable Trading are trying to change that. During the Great American Coin Hunt, or GACH, a program conceived as a way to draw public interest to numismatics, participating dealers will voluntarily release numismatically significant items from their own stocks into circulation. Beginning during the American Numismatic Association’s National Coin Week, April 21 to 27, the dealers will put 1 million collectible coins into circulation."

"Between 250 and 300 dealers have agreed to deliberately release thousands of pieces from their own U.S. inventory into circulation at restaurants, retail and convenience stores, and in higher-traffic area such as airports, train stations, malls, and town squares according to Rob Oberth, one of the program’s organizers, who himself as pledged to spend 5,000 collectible coins."

"Different dealers have pledged different amounts, ranging from a few hundred to, in the case of dealer and former ANA president Jeff Garrett, 25,000. The average planned release, according to Oberth, is around 2,000 coins."​

 

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Dang. Mr Garrett is feeling very generous, 25,000!!!

Do you know how many new members this will bring to CT?

 

WOW!! That is so fun!!

 

Creative way to clear out culls and wheat cents from the inventory

 

I wonder how they will release them, are they going to pay for stuff with them? Set up a table saying "free coins"? I wonder...

 

Spend them most likely

 

Wow! What a great idea!

I'll have to check my own inventory now to find some stuff to release...

 

This is in the middle of the post:

release thousands of pieces from their own U.S. inventory into circulation at restaurants, retail and convenience stores, and in higher-traffic area such as airports, train stations, malls, and town squares according to Rob Oberth

 

but we dont know what kind of coins are being released so we will not know if we have found one... correct??

 

Pretty much, but they did have this little blurb:

"In addition to common collectible coins, some dealers will be using key dates as tips at restaurants (of course mentioning to the staff that their tip is worth more than a few cents) and placing hologram stickers on some of the common cons [sic] they put into circulation. These hologram coins will include instructions for the lucky recipient to find a participating dealer and exchange the coin for a key date of the dealer’s choice worth up to $100."​

 

ok, so at least we know a little of what to watch for..

 

I really dislike when things like that are done in all honesty. It makes it a pain for the servers to get their money which they are likely living off of

 

Very cool. Would be great to have some collector participation too. We also benefit if the hobby grows!

 

I like the idea. A lot. I've spent 40% halves, Indian Cents, Buffalo nickels, and Silver Certificates for craps and giggles before.

 

yea right! i have 60 rolls of wheat cents dated 40's an 50's i could dump at the bank...

 

I was thinking they would just release them in the stream of commerce and let
'nature' take its course. If they are going to put stickers and give them as tips, and spend at particular stores, then they are actually gifting them to those they want to make gifts. Why not just spend them as normal coins and let them end up where they will? Now I don't like the idea so much. Sounds like it is not so much for the fun and benefit of the collector and to 'stock the pond' but more to stroke themselves and give gifts to whom they like. Meh!

But it does make me think to deposit some of my wheaties in the bank.

 

This cracked me up. I didn't even think about that aspect.

 

That's because your glass is half full...

 

I can't imagine the small denomination coin/bill is going to make a difference to whether they can pay bills or not.

 

Legit question: Do you think the majority of people that find these in circulation will just take them back to their LCS to try and sell?

Don't get me wrong. This could spark some new collectors, but the cynic in me thinks they'll end up listed for $5,000 on etsy or whatever. Lol!