the "men with guns" are coming!

at least, that's what the cashier at my bank is telling me.

in a couple weeks, we have armed couriers coming to pick up our surplus of coin reserves at the bank. there's about $15,000 in quarters and another $10,000 in dollars we're turning in. i've managed to re-count several bags of quarters so far (maybe about $5,000 worth), but i'm also told we have to break all the remaining bank-rolled dollar coins, count them, and bag them as well.

i've been checking the quarters for silver, but i don't know enough about the dollars to know if there's anything in particular i should be looking for, and i don't have enough time to check them individually. most of the dollars are in their original rolls, labeled by president. are there any presidents in particular you guys and gals think i should snatch up? or is there anything else i should keep an eye out for?

of course, anything i recover considered a "real find" will be posted here. thanks in advance!

 

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Okay, I'll play the devil's advocate...........

There are a number of error varieties for the Prez dollars, but I don't think you will have time to examine them with a loupe or even check the entire edge of each one for missing lettering. Assuming that your vision is good, about the only thing you could do is look for the blatant errors such as off-center strikes, clipped planchets, brockages, etc.

Let's assume that verifying the count for each roll takes 5-6 seconds (without considering the time it takes to tear open each roll). It should take you about 30-45 minutes to verify the count of all 400 rolls. However, if you were to take the time to just look at the obverse and reverse of each one for any blatant errors, you can add 2 seconds for each coin which would amount to an additional 5-1/2 hours.

Your bank is paying you to do a job for them which does not include furthering your numismatic ambitions, and they may not like the idea that you could take 7-10 times longer to do the job just to satisfy your curiosity.

Chris

 

Why not take the coins to the nearest CoinStar?

 

I think he's saying his bank just went belly-up and that this is part of the in-bank audit before the coin goes out to the acquiring bank. At any rate, I caught a bank like that, once (or, just before it went down), and we got it for a big score of silver halves.

 

First, I wouldn't trust CoinStar to count them accurately. Second, why should the bank pay a percentage to count their money when they have the staff to do it?

Chris

 

Simple on the dollars no time added with this.

open the roll, look at the edge of the coins while still in rolled form out of the paper to see if they are blank or doubled, fan dollars in hand and count them. Any major errors will stand out like a pop-sickle in a steak rack.. I have plenty of experience looking for double edge and smooth edge dollars and trust me I could go though a roll faster than it takes to open them.

 

bank foreclosure

if that is the case with your local bank for closure and you have a opp.. to grab whats value....a list of the tellers look,

obsolete bank notes if they have a seperate hold for those..
wheat cents,
error edge dollars
silver half dollars
and
silver quarters
both easy to tell cause of white edge..

 

no, the bank isn't going under. we're just unloading a bunch of our extra coin to our correspondent bank. they only accept loose bagged coin, so everything that we haven't broken open yet, needs to be unrolled and bagged.

i don't have to count them by hand. we have a machine counter that does that. i'm trying to find out if there's anything in particular that would be easy to spot, or if there any presidents that are more collectible than others. things like the edge errors, for instance (thanks jim m!). unfortunately, i won't have enough time to spend more than a few seconds inspecting each roll.

 

I'll send you a check for $35k drawn on the Left Bank of The Colorado River. Then just have them deliver all those coins to my old Wells Fargo building. I'm sure the vault still has room to hold them.

 

since i have really no knowledge of the dollar coins, and would probably not know what to look for without having asked you guys, i have an idea. i'll take the knowledge from this thread and apply it to the search. hopefully i find a few keepers! if i do, i will send one off to a poster that provided a helpful tip in searching for them, and keep one for myself. if i find ten, then five posters in this thread will get a nice gift in the mail. and so on.

jim m, since your tip is the most helpful so far, you're on the hook for the first one! wish me luck.

 

Funny bio wacky it gave me a smile, thank you.

 

mcblzr, you don't want to send me your money. trust me.

 

The 1971 to 1976 Ike Dollars are 40% silver! Currently worth $12+ at melt value!

 

chip, i'm glad you like it! i was sitting up at 2am last night trying to come up with something funny, and that was the best i could produce.

 

mcblzr, the only dollar coins we have in stock are the "gold" ones of the last decade, and sba's. i wish we had some old silver dollars i could snatch up, but someone beat me to the punch long ago.

 

I guess my check will stay in the Left Bank then

 

wacky, when your opening the rolls as I stated.. I found a pic of what the double edge look like. REAL easy to spot. Like I said I was buying 25k a day of them and wasnt an issue going through them. I could tear the paper, look at edge and dump into box. its that fast..




pay particular attention to the first 4 issues. Washington, Adams, Jefferson, and Madison

The Washington smooth edges were plentiful but do get some attention.
The Adams Double edges are the same way.. The Adams smooth edges are not plentiful and garner a pretty decent price.
The Jefferson and Madison smooth edges are TOUGH to find.. Real tough..

Good Luck! and do look at the edge on EVERY roll.. just because some of the others havent been documented doesnt mean they are NOT out there. If you find something let me know and I will make sure that the information gets to the right people.

 

Sounds interesting but I don't know if you really have the time to go through all this. Or if it's even worth it. The presidential dolllars are so over-abundant with nobody using them that they're trying to scrap the program. A billion of them sitting in one federal reserve vault as we speak.

Quarters have been raked over and diluted to the point you may as well forget about it. Look up my thread "The futility of searching for silver Washington quarter edition". Most people have no understanding how relatively few silver quarters were ever produced to begin with, in comparison to clads minted in 65-67. Let alone over the next 5 decades.

I think your time would be better served by simply keeping an eye on what comes through the door every day brought in by customers. Not quite as daunting of a task on a smaller scale.

 

that's something i was wondering about, but it looks as though (from my research) taht many of the double printed edges are actually embossed lettering from other coins, which made me wonder if it was worth it to look for that. i'll keep my eyes open for them regardless. any doubling can be bought up and inspected closer afterwards.

thanks for the pointers!

 

Why would you think that?