I have been thinking about buying a metal detector but have a few questions. Has anyone had any luck finding old coins using one? What is a good kind to buy? I dont have a ton of money to buy one but i also dont want to be digging up every piece of scrap metal it finds. I know they make ones that tell you what the item is in the ground. Is it a big jump in price for one of those?
I had a Bounty Hunter 3300 (?) for a few years when all my kids and I did was use it at the beach once a year. Once I got hooked, I sold it and upgraded to a Garrett AT Pro. It is one of the detectors recommended for "the next step up" from beginner models. It is a good "all around" machine. If you're going to be doing a lot of beaches, wet sand, diving, etc. You may want a dif't machine. Just my $0.02.
Depends on what you consider a tonof money. I personally am a fan of the Whites. DFX and the V3i. Regardless of what you chose I do recommend kellyco.com. and some detectors on that site you can receive a second detector at a steep discount or free.
All I'm going to say is you are going to have to dig up trash to get the good stuff. Also, check out Garrett Ace 250 or the 350 model. Affordable and work well. I recommend them for all beginners.
A couple of tips. KEEP all the trash, nails, bottlecaps, etc., you dig up, in a little bag in your pocket or knapsack. Then you can show a cop that you are helping the environment. You think I'm joking? I'm not. Go to your local police and volunteer to search crime scenes for bullets, etc. After a couple times, especially if you find something useful, they will recognize you and leave you alone. When they call, drop what you're doing and respond; it will pay off in the end. Also volunteer to make informal appraisals of coins confiscated from criminals, etc., etc., and help identify Chinese fakes. Anything you can do to assist the cops is worthwhile. Cops are your best friend BECAUSE you don't want them to be your worst enemy. More tips. Print up a Search Agreement, and carry a couple in your car. I will post a sample upon request. It contains a clever clause that will benefit you. In your spare time, you can advertise to find lost rings, keys, etc., in people's lawns; you charge one fee if you find the item, a lower fee if you don't. You retain the right to retain "other" items you may dig up, but this must be in writing, usually per the Search Agreement mentioned above. Here is a mistake newbies make. Yes, you swing the head (coil) back and forth, back and forth as you walk along. Many folks tend to raise the coil 6 or 8 inches as they begin to move the coil the opposite direction. When it's that high, it's not detecting anything; you are missing 20% of what "might" be there. Keep that coil tight to ground level, just 1 or 2 inches or whatever the instructions recommend. Carry a little squeeze bottle of flour with you, to mark where you've been, or to a circle an area you want to come back to. Out West, especially, don't pick up eagle feathers and certain other items off the ground as souvenirs. It's against the law, big-time. Wikipedia: "...Under the current language of the eagle feather law, individuals of certifiable American Indian ancestry enrolled in a federally recognized tribe are legally authorized to obtain eagle feathers. Unauthorized persons found with an eagle or its parts in their possession can be fined up to $25,000." There's also bird eggs and turtle eggs that are considered contraband, and fines for willful destruction of endangered species or their habitats. When you find something valuable, KEEP YOUR MOUTH SHUT. No photos, no interviews with the newspaper, don't tell your friends, nothing. Even the IRS is interested in "finds," as they are taxable income. Most metal detector manufacturers will send you a free video (or download) about using their equipment correctly and skillfully. In some parts of the West, if you wander into some dude's marijuana farm, way out in the boonies, you WILL be shot, especially now that it's legal to sell in the States of Washington and Colorado. It's a CASH CROP, and in the dude's eyes, you're either a thief or the law. Waving a metal detector doesn't impress them. Watch for snakes. You think you can ward off a snake with that coil on a stick? Wrong. Don't lift rocks or probe brush-piles with your bare hands. I have about a thousand more tips, but it's 5:20 a.m. and I'm still up. Good luck.
Bart at bigboyhobbies.net is extremely helpful. Kellyco not so much. Dunno anything about all that feather and snake jibberjabber and your finds definitely are NOT taxable income. If you are looking at metal detecting with the attitude of getting rich then don't buy one. If you are looking at it as a fun, relaxing and sometimes exhilarating hobbythat actually had the potential to pay for itself, then talk to Bart. I just sold one of my finds and dug another key date last week. But I also only use the most high-end machines Yes you can find anything as long as is made of metal but don't expect every plug to hold the crown jewels unless they are made of pulltabs.
Broken, you are of course wrong about what's taxable: "...Found property. If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove), it is taxable to you at its fair market value in the first year it is your undisputed possession." (from IRS Publication 17) Whether you report it, that's up to you. Furthermore, "...If you collect stamps, coins, or other items as a hobby for recreation and pleasure, and you sell any of the items, your gain is taxable as a capital gain. (See Chapter 16.) However, if you sell items from your collection at a loss, you cannot deduct the loss." Whether you report it, that's up to you. But it IS the law.
Bought two detector packages from KellyCo, not one problem. They offer packages that include enough gear to give you a basic hunting kit. If you're looking for a decent inexpensive detector, consider the EuroTek Pro by Teknetics. Less than $300, has a lot of features found in many higher-priced models. This machine reviews very well. I use this, and my wife has the Garrett Ace 350, another good, but pricier, beginner machine. Both should be easier to sell with little loss should you decide metal detecting isn't for you. Keep in mind the detector (any detector) is not a coin magnet or magic machine. You can get a general idea of what's underneath the coil, but there is no guarantee that's what you'll find when you dig. Whatever machine you choose, read the manual and read it again. Learn to differentiate the different sounds, and learn to read the graphic display (be it bar graphs or VDI numbers). Others gave you good advice as to detecting and digging, so I won't repeat that.
I have neither the time nor the desire to argue. Your second example is what I am referring to. This wheat cent I hold in my hand is worth $.01 in the eyes of the govt. I can sell it for $100 if I choose. Nevertheless it is still only valued at. $.01. The govt is not going to tell me I owe taxes on it. If I sell it, I owe taxes on the profits I received, the item itself is not taxable. Apology accepted
I'm not saying Kellyco is terrible to deal with, just that among the hobby they are kind of the "infomercial" of dealers. All the extras they entice you with are complete junk and there are better replacements for all of them at varying prices and quality. There are many many small dealers across the country with very good reputations for personal service and help as well as pricing equal to or better. Buy the machine, not the goodies they sell with it. Your starter machine choices are excellent. I would add the fisher f2 to that list.
I agree that some of the stuff included in KellyCo's packages are not top of the line, but would hardly call them "junk". While I can't speak for other dealers, I've had this discussion on other boards. I can only compare what's offered on-line, I don't have the time to call each and every mom-and-pop dealer to get "the best price" that they all seem to offer, but never advertise, that may or may not be that good. What I can say is, when starting out in the hobby, the packages offered by KellyCo give you all the basic stuff you need to start detecting right out of the box, at the same price that the others charge simply for the detector. Like any other hobby, you start out with basic, and as you progress, you upgrade, be it metal detectors, coins, antique furniture, what have you.
