The Guide To Coin Roll Hunting!

Discussion in 'Coin Roll Hunting' started by xGAJx, Mar 1, 2013.

  1. xGAJx

    xGAJx Happy

    Hello Guys! I finished my report that I had to do for my sixth grade class, and Im posting below my research report that I did.
    This is intended for the amateur coin collector, who wants to be a coin roll hunter, and/or a coin dealer!;)
    Thank you anyways, Honest

    The Guide to Coin Roll Hunting
    A research report
    In the hobby of coin roll hunting, coin collectors search rolls of pennies, nickels, dimes, quarters, and half dollars to find the hidden treasures found in circulation every day. Sometimes they even find precious metals like silver.
    Silver changes in price constantly, but at the time of this writing (February 2013) it is worth around thirty dollars a troy ounce, which can lead to enormous profits for coin roll hunters. I suggest you start with penny rolls, which have fifty cents per roll and cost accordingly. It should be mentioned that coin roll hunting in general is free because it can be exchanged at the bank for the equivalent value afterwards. As an amateur coin roll hunter, you may probably assume that all pennies are worth one cent. That is not true; in fact, one rare penny can sell for millions of dollars. Any penny minted before 1982 (dates are on the obverse, or Lincoln’s face) is made of 95% copper, which is worth about two and a half cents. Many people also assume that modern pennies are 100% copper, but really, they’re made out of only 97.5% zinc, and a very thin layer of copper. Pennies minted before 1959 are Wheat Pennies, or Wheaties. They are worth five cents in average condition. In higher condition, specimens may sell for higher than twenty dollars apiece. Pennies found before 1909 are much rarer because the U.S minted less of them, and they’re rarely found in penny rolls; if you do find one, get it appraised. A very beaten-up specimen is worth around 4 dollars. Anyway, in the first couple rolls, you might find a wheat penny. (Shown below)

    Fig. 1 – Obverse and reverse of a wheat penny
    Its reverse (the back side of a penny) will have a much different layout then a regular penny. Coin roll hunting is a very fun hobby, and some coins can be worth far more than face value!
    Grading is a coin term that has nothing to do with giving A’s on math tests. Grading can refer to the grade or condition of a certain coin. There are certain TPGs (third person graders) out there who grade your coins with their expertise for a hefty fee. Some examples are ANACS, PCGS, and NGC. However, some TPGs are unreliable, so heed my warning and stick to the mentioned three. You should only get coins graded to increase their value. Don’t get your coins graded if they are worth less than a hundred dollars because they won’t be worth the fees.
    Graded coins are placed in clear plastic cases to display both sides of the coin. This is the most highly recommended way to store rare coins. That’s only if you find really rare coins during coin roll hunting, though! To identify rare coins, I suggest you first buy a coin price guide book before you start. The Redbook™ is a reliable coin price guide. Condition is a very important matter when it comes to identifying coin values. There is only one way to grade coins, and it’s using the 1-70 point grading scale, 1 for signifying hardly identifiable, and 70 for being literally perfect. If you ever go to a coin dealer and say, “My coin is in good condition,” then you’ve basically undervalued your coin. “Good” is one of the worst conditions there is. Don’t feel ashamed if you made this mistake, because it’s very common for beginners. Doing lots of research on grading is highly recommended, it’s actually one of the most important parts of being a coin collector!
    The first time you find a rare coin, you may not even notice it! Look up any funny-looking coins you find while coin roll hunting, because many are valuable errors or mistakes. Doubled dies are extremely popular errors when a die (a coin making device) is faulty and causes the coin to look doubled. These are usually found while using a 5x magnifier and are quite valuable. Some can be visible with the naked eye, and a popular example is the 1955 doubled die penny, which shows tremendous amounts of doubling and is a rarely found while coin roll hunting, as most coin dealers will notice the error and pick it up.

    Fig. 2- Example of the 1955 Doubled Die Penny
    Your best chance at succeeding and making lots of profit from coin roll hunting is to educate yourself. There are many different varieties, which once you understand what to look for, you’ll be great at coin roll hunting and you won’t miss a valuable coin.
    In this part of The Guide to Coin Roll Hunting, I’ll talk to you about the different rolls you can find, because some are more important to you than others. I will say that if you ever find any fifty cent pieces, or half-dollars, check them for specific dates. Keep any 1974 Kennedy halves to check if there is a doubled die. Those are worth an average of a hundred dollars. You’ll need a magnifier to see one, and with research you might find them using your naked eye, but that’s rare. Also, silver is a priority when searching half-dollar, quarter, dime, and sometimes nickel rolls. Anything from 1970 or earlier is silver, and half-dollars minted during 1965-1970 in any condition have a composition of 40% silver. The minimum value is its silver melt (which is roughly 5 dollars), but that doesn’t mean you’re going to melt the coin! Melt value refers to the metal content of the coin. 1964 half-dollars are 90% silver and are worth 12 dollars! If the condition is uncirculated, it might be worth a couple dollars more. Any coins minted before 1964 usually command quite higher prices. Rarely, you can find Franklin halves and Liberty Walking Halves. Anything before that is extremely rare and should be appraised as soon as possible, and most likely certified. If you have a Redbook (highly recommended) you can see the mintage of each coin and its value in each condition. Lower mintage coins, such as the 1949 D Franklin half, is worth 550 dollars in MS-65 condition. An average Franklin Half is in about EF-AU condition. So any Franklin half is worth about 20 dollars. And if you’re lucky enough to find a Walking Liberty, you’re in good shape. In really beat up condition it is worth a minimum of 14 dollars, (G-4) and most 1921 Walking Liberty Halves in above VF (Very Fine-20) are worth getting certified. A 1916 S Obverse Mintmark is worth 435 dollars in VF condition. Now let’s talk about other rolls. Quarters are the least rewarding, but they can give really nice rewards if you do the research. Anything before 1965 in quarters and dimes is silver and is definitely worth keeping and putting in 2x2 flips, or tubes. Nickels can also be quite rewarding but only 1942-1945 nickels are silver, and those are on the rarer side, and also less rewarding. Dimes are more rewarding but there are not many variations. If you find the variations, they can be worth thousands of dollars. Pennies are the most recommended, and they have most varieties, but less value. You will never have silver pennies, of course.
    Sooner or later you’ll learn that condition matters. The most commonly used scale for grading is the 1-70 scale, as I mentioned earlier. The grading scale is shown below, just to give you an idea of some condition types.

    Perfect Uncirculated (MS-70). Perfect new condition, showing no trace of wear. The finest quality possible, with no evidence of scratches, handling or contact with other coins. Very few regular issue coins are ever found in this condition.
    Choice Uncirculated (MS-65). An above average Uncirculated coin which may be brilliant or lightly toned and has very few contact marks on the surface or rim. MS-67 through MS-62 indicate slightly higher or lower grades of preservation.
    Uncirculated (MS-60). Has no trace of wear but may show a number of contact marks, and surface may be spotted or lack some luster.
    Choice About Uncirculated (AU-55). Barest evidence of light wear on only the highest points of the design. Most of the mint luster remains.
    About Uncirculated (AU-50). Has traces of light wear on many of the high points. At least half of the Mint luster is still present.
    Choice Extremely Fine (EF-45). Light overall wear shows on highest points. All design details are very sharp. Some of the Mint luster is evident.
    Extremely Fine (EF-40). Design is lightly worn throughout, but all features are sharp and well defined. Traces of luster may show.
    Choice Very Fine (VF-30). Light even wear on the surface and highest parts of the design. All lettering and major features are sharp.
    Very Fine (VF-20). A moderate amount of wear is noticeable on the high points of the coin's design. All major details are clear.
    Fine (F-12). The coin shows moderate to considerable even wear throughout. Entire design is bold with an overall pleasing appearance.
    Very Good (VG-8). Well-worn with main features clear and bold although rather flat.
    Good (G-4). Heavily worn with the design visible but faint in areas. Many details are flat. Common coins in "Good" condition are not particularly desirable pieces for collectors. Rare or valuable coins in this condition, however, are often saved when no others are available.
    About Good (AG-3). Very heavily worn with portions of lettering date and legend worn smooth. The date may be barely readable.
    As a starter, I suggest looking at photographical grading guides to show you more precise grading on specific coins. For now, you’ll use this guide. Certified coins by TPGs, are a great start if you want to examine them since there grades are usually perfect. (Some earlier grades were graded less points due to strictness.)
    Now is where I am going to get into the topic of toned or tarnished coins! Tarnished, is for people who don’t like toning, but personally I do and it can be quite beautiful.

    Fig.3 Example of a rainbow toned Morgan dollar.

    Now that you know how to coin roll hunt, you can begin your adventure. Remember, anyone can strike it rich with rare coins in coin rolls!

    And Credit goes to Strike it rich with Pocket Change, 3[SUP]rd[/SUP] edition for facts on silver and other various coins.
    Strike It Rich with Pocket Change, 3rd Edition (book)
    By Ken Potter and Dr. Brian Allen
    Also credit goes to the Treasure Net forum, Beginners guide to coin roll hunting for tips on how to successfully coin roll hunt.
    And lastly, credit goes to the US mint for publishing this accurate grading scale.
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  3. xGAJx

    xGAJx Happy

    Seriously. 114 views and nobody replied?
  4. FadeToBlack

    FadeToBlack New Member

    What do you want us to say? Good job?
    Bambooski likes this.
  5. xGAJx

    xGAJx Happy

    Well you dont have to lie. :) Im just sometimes wondering if Cointalk is glitching out and posting that I am getting views, but not really. I dont like feeling lonely. Anyone as I said this is intended for the amateur coin collector, not an expert.
  6. jrh1234

    jrh1234 New Member

    You said to tell the truth. It doesnt sound good. Ill be suprised if you get a C- on it. Sorry im being truthful.
  7. Pi man

    Pi man Well-Known Member

    Boooo, give the kid some ​credit! This is just a 6th grade report.
  8. xGAJx

    xGAJx Happy

    I actually got a 5, or an A +. Lol mabye standards these days arent what they were. If i posted or wrote anything wrong, I would like to know. Any info plz?
  9. therocktjb

    therocktjb Wait, what**

    Figure one is not a wheat cent obverse, its 1959. If you really want some constructive feedback on your writing I'll gladly give it. I don't want to hurt your feelings, but that was a difficult read.
  10. silentnviolent

    silentnviolent accumulator--selling--make an offer I can't refuse

    Join the club.

    Agreed. If the teacher is a fellow numismatist ;)

    Again, I point to a teacher unknowledgeable and/or inexperienced in the hobby moreso than any classroom grading curve. Teachers never want to admit to a lack of knowledge ;) but that in no way makes you an expert. No offense intended at all; you are enthusiastic and have ambition. That is not to be discouraged :)

    As for a concise overall review of your essay, I will not be too nit-picky about grammage, ;) spelling, etc. I would suggest that you stay away from listing values as they can fluctuate drastically without warning, and if any single value given is wrong (easy to look up) the discrepancy would cast doubt on all the information you put out there. If you must include a value try being more vague and give a price range for a common example. Shotgun approach. Trying to be exact, especially when unneccessary, will bite you unless you really know your stuff.
  11. therocktjb

    therocktjb Wait, what**

    I'm not even looking at this piece as something that is about numismatics, I'm looking at it as an essay. One that has no true introductory paragraph, bounces from subject to subject then back to an already mentioned subject, and the end paragraph isn't a wrap up at all, talks about toned coins.

    Basics of writing an essay, that is tought in the 4th or 5th grade.
  12. Erik

    Erik Dumb Noob

    I'm sure glad there wasn't an internet to post my 6th grade 'papers' onto.
    Bambooski likes this.
  13. therocktjb

    therocktjb Wait, what**

    This below is by no means a perfect example of what a proper essay should look like; however, it is easy to read, informative, has a good flow, etc.

    Numismatics or collecting of coins and currency is a long standing hobby of many people across the world. Ranging from ancient coins of Greece to modern day gems such as the American Silver Eagle, the collecting of what most consider simple pocket change is a vast and enjoyable (albeit addictive) hobby. One facet of this hobby is the searching through rolls of coins aptly named Coin Roll Hunting. With the hobby being quite expensive at times, Coin Roll Hunting (CRH) is one of the most inexpensive ways for a collector to add to their collection. Each collector has something specific that they are looking for; there are many different denominations of coins, possible errors, precious metals such as Silver and Gold, and even the coins that are no longer used in day to day circulation. It is worth noting that while coin roll hunting that it is possible to find many gems in the rolls, it is highly unlikely and a rarity that someone will find anything more than standard coins while doing so. The basics of what to look for when searching through the common denominations of coins are discontinued designs, errors and low mintage years, and coins that contain precious metals.

    The average lifespan of US Coins is 25 years, this is the legal amount of time a coins design must be minted, which is not to say that there are/were designs that have lasted longer such as the nickel which ran from 1938 to 2004 before there was a change, or in the case of the Franklin Half Dollar that only ran 16 years. When picking up a roll of coins, there are a few different types to look for. The “Wheat Cent” that was in circulation from 1909 to 1958 is one of the most commonly collected coins, and can still be found in circulation. There are dates in the series that are more valuable than others due to low mintages, but just finding one in a roll is a find in itself. The “Buffalo Nickel” is another highly collected coin; it ran from 1914 to 1938 and is easily distinguishable with the Buffalo and portrait of a Native American image on the coin. The “Mercury Dime” was in circulation from 1916 to 1945, the “Franklin Half Dollar” from 1948 to 1963, the “Standing Liberty Quarter” from 1916 to 1930, the “Barber” series of coins consisting of a dime, quarter and half dollar design that ran 1892 to 1916, and the “Indian Head Cent” that ran from 1859 to 1909. There are many other designs of US coinage, some more popular among collectors than others, but those listed are the most likely discontinued designs that are likely to pop up in a coin roll from time to time.

    When it comes to errors on coins, there are multitudes that are considered within the numismatic community to be legitimate or hold a premium value. Doubled Die stuck coins, struck through grease, clipped coins, re-punched mint marks to name a few. When examining a coin for errors, it is imperative that a loupe or magnifying glass is used to closely examine the coin. There are a few “notorious” Doubled Die errors: The 1955 Wheat Cent and the 1995 Lincoln Memorial Cent. Both of these errors command a pretty penny (pun intended) when it comes to their respective values. Condition is also a factor for an error coin, as it is for any coins value, but errors will always be worth a bit more due to the error. With a clipped coin, close examination is paramount to insuring that it is a legitimate clip and not post mint damage that someone had done in their garage with a pair of pliers or tin snips. A clipped coin will have generally a semi-circular clip taken out of it, and a coin of the same denomination will fit into this empty space seamlessly. Re-punched mint marks are one of the more difficult errors to find, this is due to their being a mint mark punched into the die and then another mint mark punched over it. Close examination will determine if the coin in fact has a re-punched mint mark.

    An often overlooked source of value when it comes to pocket change is those coins that are actually worth more than what their face value is due to the metal content of the coin itself. Every dime, quarter, and half dollar minted 1964 and earlier are composed of 90 percent silver, making them highly valuable compared to the denomination struck on the coin. Other coins that contain silver include but are not limited to: Half Dollars 1965 to 1970 contain 40 percent, “War Nickels” from mid 1942 to 1945 contain 35 percent silver, and Silver Proof Sets (dime, quarter, half dollar) minted from 1992 to present (NOTE: Most if not all dimes, quarters, half dollars from 1992 to present found in circulation will NOT contain silver. This will only happen if someone who owned a silver proof set broke it open and used the coins in circulation). The “melt” or “spot” value of these coins fluctuates with market conditions, but it is always a good find when a silver coin is found. Precious metals aside, cents minted 1981 and before were minted with 95 percent copper, and the value of the copper itself has surpassed the value of the coin by a margin of more than two to one. Cents minted in 1982 were a mix of 95 percent copper and 97.5 percent zinc. The only way to accurately tell the difference is to weigh them, with the copper cent weighing 3.11 grams where the zinc cent weighs 2.5 grams on average. While the metal value exceeds the face value, these coins cannot be melted down for their metal value. In time, this may change, but for now they coins can be hoarded until they can be melted, or spent for face value.

    Discontinued coins, errors, and even precious or valuable metals are all floating around in circulation. They can come in change from the local gas station, in rolls from the bank, or even in the vending machine. Coin Roll Hunting comes down to being able to identify these coins from the rest and getting them out of circulation and into a collection. Numismatics is a vast hobby, one that can be easily enjoyed on the smallest of budgets. The amount of money spent is all based on how the collector wants to go about finding the coins they want.
  14. Erik

    Erik Dumb Noob

  15. therocktjb

    therocktjb Wait, what** happens. The word not should've been in there. For what it's worth, I whipped that up in 10 minutes.
  16. rickmp

    rickmp Frequently flatulent.

    I got as far as the 1959 wheat cent and stopped reading.

    MAKECENTS Active Member

    GAJ, I thought you wrote a very coherent insightful essay. Keep studying and striving to excel. Sometimes I think people on this forum can come across as slightly arrogant. Don't worry about those individuals. You will only meet more of them through your
    Life. Criticism is great but it also should be constructive. Just because someone knows a bunch about coins does not mean they know manners. This is why chose not to write much on this forum anymore because of those who like to argue and not be constructive in criticism but hurtful. You did great keep it up my man.
  18. Erik

    Erik Dumb Noob

    I double majored in Journalism and Mass Communication and also minored in English, so if any of your kids have a paper you want me to proof read, I'm available. My rate is 1 War Nickel (for elementary) or one silver dime (for Junior High) per page.
  19. rsand

    rsand Member

    Harsh crowd I think. How many 6th graders are writing about coins? Isn't there a generally acknowledged problem with a lack of young enthusiasts? I think a little encouragement is in order here.
  20. eddiespin

    eddiespin Fast Eddie

    When I was in the 6th grade and got coins I spent them. :)
  21. wkw427

    wkw427 Member

    When I was in the 6th grade I thought '64 nickels were silver.

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