my school is planning for the next coin drive. last year they had a heck of a time sorting, rolling, and cashing in near $500 in cents, and around $1,000 in other loose coins. i was telling my dad this and he said that it would be neat to go through all of that becuase sometimes grandmals or grampals old coin jar got donated. he said if we can, we would buy the coins off the school. what do you think the best way of doing this would be? thats alot of coin! :kewl:has anyone else ever bought coins from donations like this, or is it worth it? thanks! :thumb:
If it wasn't too hard to at least sort out by type (i.e. cents, nickels, dimes), then you could possibly just weigh the coins. You wouldn't end up "exact", but you could calculate fairly close the value. Other than that...I don't know how long they take but there's those coin sorter/counter things that automatically put them in rolls. I think they're typically around $30, but...that's a LOT of coin to put in a little plastic machine!
If youv'e got some free time, I say go for it. You've got nothing to lose if you're getting the coins for face value.
I don't think there's any moral problem involved. You'd have to contact whoever is running the coin drive. But if you spin it right, it would look like you're doing them a FAVOR. And if you live in a small town and you've been there for awhile, this should be dead easy to do. Sometimes, I think we make things complicated. You might even be able to say - "Hey, I'm a coin collector and I'll give you dollar bills for those coins. It'll save you the time and effort to roll them up, etc.". It's almost like we're clandestine or something!!! Good luck - but go for it.
I'd say go for it man! Don't know what silver or wheats you might find! Or something else. I'd say go for it also. :thumb: Phoenix
I think a good idea would be to go through the coins and ebay the good ones with the proceeds going to the school.
thanks everyone for the great ideas!:kewl: i heard yesterday that it is mainly a cent drive so thats all there is going to be. i'll run the idea by them! they also except bills.
Ask your bank if they'll run them through the counter for you. Since it's part of a school thing they may be happy to do it. Then you pay the school and relieve them of the burden of counting and wrapping.
i agree with libertybell, any profit from the cherried coins should go back to the school. while pocket change is also correct, ''I don't think there's any moral problem involved,'' however i find it in poor taste. last year during the holiday season gold bullion began to show up in donation kettles. would the same standards apply if those sorting cherried out the gold and replaced it with currency for face value. http://www.ketv.com/holidays/14707250/detail.html
Hmmm. I guess I have to agree with CappedBustDimes. Coinlover, if you are part of that school and of that community. You should be offering your help to go through those coins and cherry picking ones that can be sold for more money so that your school can make even more money. It's not about YOU - it's about the school!!!!!!!
i'm going to write a letter and offer it to the club that is running the coin drive. so far they only have $5 in cents but it runs through this week so hopefully they will get some more. what i'll do is cherry pick the cents, and give redbook values to what wheat or other old coin i find.
Here's a thought to get around the whole morality issue (if there's one). What is the school going to do with the coins? Probably bring them to a certain bank which will be using a counting machine which will then go into bag(s). If you can get in with the bank, the bank may then let you have first crack at buying the bags at face.
