Do Any of You GIVE BACK ? Depositing Loaded Rolls

Hmmm passing off half-dollars as dollars? What a great return on investment!

Only kidding, of course. It does make me sad when I realize people do not even know the basic denominations of coins in the country in which they have resided all their life.

 

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Yes, a little. on rare occasions I had put a buf nick with no date back into circulation.
Also, I put lots of halves into circulation at fast food, and gas stations and also as change at the farmers markets that I do. I also give them as tips.
When it get's close to Christmas I order Ike's at the bank and then give them as change. Lots of folks like them to give a child or grand kids as Christmas gifts. Some will even buy extras from me when they see the first one.

 

I do find it curious as to how many of you all consider spending half dollars as putting "rare coins" back into circulation. Especially because many of you get the rolls from the bank to search for silver. "Rare coins" are coins that are no longer minted such as wheat cents, buffalo nickels, etc.

 

I throw in junk buffaloes when I return nickels to the bank

 

I'll throw back really grungy nickels I find when searching. I threw back a very corroded 1899 Liberty and a couple Buffs.

Actually, today I will be dumping $20 of various pre-60s that I culled from my Jefferson hoard. So, someone may get a nice surprise if a searcher gets a hold of the rolls.

 

Hope it's me

 

True, halves are still minted but only Not Intended For Circulation (NIFC) coins. Mint sets and Proof sets. You don't see them in common circulation any more. People I give them to as change or tips usually keep them and don't continue to circulate them any more. I put about $80 worth into circulation every week and I can only remember one time in the last 2 years getting one back in change (at the farmers market where I give them out, apparently one came full circle back to me, probably the same day)
That said, point taken that they are not RARE, since, as you say you can still get boxes of them for face value. But they are rare in the since that they are not seen in circulation and the folks that get them have rarely see one.

 

I did something similar a few months back. When I was searching Nickels for a decent volume I was keeping all pre 1960, but decided I just wanted pre 1950 and sent some 50's full rolls to the bank. Hope someone who has interest in the hobby scooped those up.

 

I don't have enough to give back whole rolls, but I do throw some common wheats back into the wild for the next guy. I have a pretty red 37 cent that'll get dumped back into change machine this week since I've got two or three of them in 2x2's already. My LCS also gives $2's and kennedy halves in change so those get recycled as well. They're not "rare" per se, but people seem to like seeing them.

 

I helped a friend sort though piles of valuable and not so valuable coins from a relative. We decided to circulate any wheats from 1946 on because they just weren't worth our time. Kept everything earlier. Somebody got a surprise. Must have been 300 or so.

 

When I got married my best man gave me $500 in $2 bills. I put them all into circulation. Got some interesting conversations out of that. I've put a few modern impaired proofs into circulation as well.

 

Since silver has gotten rare to find in change nowadays, I love finding proofs! They are always damaged or heavily marked, but a fun find none the less.

 

Yesterday and today I bought $10 each of nickels from two local banks and found 2 buffalo nickels, one 1936 and one w/o a date. I wonder if that person who slips buffalos in the rolls did so with mine. Thanks. They will go out maybe to a young Boy Scout doing coin collecting merit badge.

 

Thank for thinking about this. My older son completed his coin collecting merit badge last year, and my younger son just graduated from Webelos to Scouts this Spring. He hasn't yet decided to do the merit badge, which is interesting since he was far more interested in it when his brother was doing it than his brother was!

 

Buffalo nickels and wheat cents are far from "rare." Granted quite a few of the early dates are but the later dates are still found quite frequently enough to make roll searching fun for those who roll search cents and nickels.

 

I would never "recirculate" rare, or even semi-rare, coins. My logic is that these are the possible outcomes:

1) Coin ends up at a store, which will lead to coin tray damage, circulation damage, possible environmental damage (if in a sushi or similar high acidity environment) and a host of other problems.
2) Coin ends up with a "silver stacker" who melts (or sells to someone who melts) their silver coins.
3) Coin ends up with a novelty coin company that then sells the coin in the newspaper as "OVER 80 YEARS OLD!!!"
4) Coin ends up in a Brinks box to be sent back to the Federal Reserve for removal from circulation.
5) Coin ends up in the hands of an actual collector or YN.

ONE of those outcomes is desirable. I'd rather donate the coins directly to a YN in a local coin club or ask the local ANA chapter to give the coins away in a YN drawing at their next coin show or meeting.

 

I do not agree with your logic, but it may be because I have a hard time understanding.

1) You do not want it to risk getting damage from sitting in a display tray, so you want a young numismatist learning how to handle coins and what coins are having the coin? To me that is a greater risk of damage.

2) You do not want it to end up with a "silver stacker"? Isn't that some one who appreciates the metal? I do not know of any silver stackers that melt US coinage, but even if they did it is their business (ignoring the whole "it's illegal to destroy U.S...) You do not want somebody that appreciates silver to have a silver coin? I can understand you not wanting it to be damaged or destroyed as your first point eludes.

3) You want to protect any other buyers from purchasing that particular coin under certain circumstances you personally disagree with by controlling who you distribute it to? That's about as communist as you can get...

4) I understand this one.

5) desirable outcome

 

That's great! I'm an Eagle myself and still actively involved in my troop although now as now on the committee (I have no children, yet). Coin collecting MB is on my list of possibilities to teach at winter camp (or at least start)

 

You don't understand communism, if you think this is communist:

As the person in possession of the item, I can dictate how I would go about distributing it. Since I find four of the five outcomes unfavorable, I don't recirculate rare and semi-rare coinage. As the owner/possessor of the coin, it's my prerogative on what to do with it. I have no control over what happens once the rolled coins are returned to the bank, so I opt for distribution methods that help young collectors, rather than hurts them. Recently, as my way of giving back, I sold 10 AU/BU Morgans for $330 or so. Half ended up in the hands of (I'm guessing) collectors and the other half ended up with (I'm guessing again) dealers. I don't mind that I got a bit less than fair value, as I really was viewing the sale as a way to give back to the coin collecting community. Also, by pricing my coins above melt value, it ensured the coins wouldn't be melted.

To my comment on silver stackers, I stand by it. The point behind stacking silver is a perceived hedge against undesirable levels of inflation. (Yes, a little inflation is always desirable.) If silver prices double over the course of a few months, some may decide to "cash in" by either melting the silver or selling it to someone who will eventually melt it. I can't assume the numismatic intent of individual silver stackers, but I can assume the intent of the most extreme ones. I've seen some melt coins (which isn't illegal, except for pennies and nickels, since they cost more for the Mint to make than their face values) into ingots or even bullets, and others I've seen spoon/hammer coins into jewelry or solder them into art.

Yes, I can never know the final intent of purchasers of coins, either, but I do think my method (donating coins, as opposed to depositing them into banks) serves as close to the purpose I desire, as I can get.

 

The club secretary for our coin club uses old postage stamps to mail out the club newsletters. Kinda neat when you get mail with stamps from the 40's or 50's on it. Same with finding an old coin in change imo.