Seven Ounces of Silver a month. Worth it?

I only CRH Halves and I track every one of them, 90% and 40% on an excel spread sheet. Last year I hit a few months where I was over 10 ounces of silver but for the most part I average 7 ounces of silver a month. I do 5-6 boxes a week and hit the teller trays as time permits. My area is infested with other Hunters that do the exact same thing. I am beginning to wonder if it's worth it. 7 ounces right now is $126 a month. Ugh, I'm kind of frustrated.

 

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That around 20 90% coins a month. I would be lucky if I could find 20 half dollars a month of any kind within 20 miles of where I live.

 

The majority of it is 40%. About 1 in 4 coins are 90%. I have a dealer that will give me 91% melt for the 40% so that is not bad.

 

Do you check for other errors and varieties while you are at it? Do you put together a high grade set while you are at it? I sure would be doing these things while I was pawing through the halves, and not just looking for silver.

 

I do all that for 1970 and earlier. I am not really interested in anything copper.

 

Maybe its just me, but I would get a specialist book and be aware of any special coins known and check for them if I was handling a bunch of Kennedy's regularly. It doesn't hurt, and could increase your value yield tremendously.

 

If you're doing it for fun, things like "rate of pay" don't really figure in -- but if you're getting frustrated, maybe it's not fun any more. Maybe it's time to start thinking in terms of breaking a bad habit instead of continuing a "hobby".

Think about external costs, too -- if there are a lot of people doing this in your area, the banks are spending a non-trivial amount of money to order in halves, distribute them, accept them back, re-box them, and so on. More of those banks are likely to shift toward non-hobby-friendly policies as the expense continues to increase.

I know it's a rush when you hit a good box. When that rush drives a compulsion that has you spending too much time and effort, and getting too little enjoyment outside of the "rush" -- maybe it's become a problem.

(I say this as someone whose "bad habit" is cruising eBay for undervalued lots. So far, my wife and I agree that it's not a problem. )

 

I used to get a lot of enjoyment out of it, just doing it for fun so I did not take the approach of calculating my work pay on it. Now it seems like a crappy job and not worth my time at all if I compare it to my work pay. I recently quit smoking and chewing and have been using that money to buy silver at my LCS and Shows.

Coin Roll Hunting was something my girlfriend and I loved to do together for fun. I started doing it a little over a year ago and got her into it last October. She still loves it as we do all our boxes on Friday nights together. She has gotten some major scores. I haven't really told her that I am getting jaded. But you're right, it's like breaking a bad habit where random reward has become few and far between. Trying to find a new hobby we like would be good. We started bowling together every Sunday but I hurt my back. It's better now so maybe we can focus on that and hiking as the weather is better now.
In the past I discounted the external costs as "this being my hobby that I love, I don't care about the banks, they owe me". But I find myself dumping at banks on Saturday mornings when I could be doing something else. I know my dump banks are just about sick of me.
The only problem I see is the time I could be doing something else, like exercising more or reading more. It hasn't gotten out of hand into an addiction category. At least I don't think it has. Maybe I should do more than just Halves

 

Are you CRH for fun and enjoyment or profit? It will take time, you'll never get rich but you will have fun if you let yourself.

 

Good question. I buy silver at my LCS and Shows and my CRH silver halves were keeping my average cost per ounce down significantly. I have sold and traded them. There is a significant thrill you get from a good box. I know I am not going to get rich at all. I basically was just treasure hunting.

 

For me CRH is all about the thrill of the find. When you factor your time, you would actually lose money doing it.

 

This turns 15 minutes a box into potentially hours a box.

With that said, I say it's worth it to put together the high grade set. You can still edge check and do this.

 

True, I still pull proofs and nice copper clad coins by edge checking. The great looking rims Stick out. There are two expensive modern 90% silver proofs to get though. Do you know which ones I am talking about?

 

2012 and... 2008 I think. Yes crazy expensive.

 

What about 2014? That was 90% I believe.

 

There's the 2014 gold

 

Bman, I totally understand where you're coming from as that I juggle my two kids after work and my wife has a more demanding job. Even though I've only been collecting since October last year, I go through burnout phases and always trying to figure how to make it work more. I took the day off work today to run around looking with not much luck, but in the end it was more relaxing than most days. I also go through phases when I'll just do pennies, nickels, etc. That way I don't get too bored or frustrated if silver not really available. I've learned an immense amount and I'm always trying to get my kids and others interested. The coin guy I have said the reason everything is so high price wise is too many coins now and not enough collectors out there. People don't use money like they did when we grew up (now money just comes from a card). I'm determined to pass it on to my kids and anyone else I can educate. Need more friendly competition to keep the market (and prices) more manageable. Wow, I've been told I ramble but...

 

That's right! Thanks. Plus, someone the other day posted about metal detecting. Also something of interest to me, and another forum Treasurenet has tons of discussions about claims and people going out and hunting for lost treasure. Sounds like it would be a blast but only so much time...right now. One day!

 

Bman
Don't allow this burnout ruin your love for this hobby. Take a break for a few weeks and then dive back in when you feel good about it again. You'll know when it's time to get back in the game.
Just my 2 cents.