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Thread: Anybody collect coins?
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November 29th, 2023, 09:47 AM #21
Re: Anybody collect coins?
Yes, depends on condition and amount made and denomination. I use this to check: https://www.mycurrencycollection.com...r-notes/lookup
FJB
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November 29th, 2023, 10:11 AM #22
Re: Anybody collect coins?
When I was a Boy Scout, selling candy in front of Farmers and Mechanics Bank in Phoneyville, I was paid with 5 $1 silver certificates, most of which were in damn good shape. Unfortunately, like Bogey, I was born wrong for them to be of much value. I still have them and a couple lf steel pennies and maybe even a Barr dollar but they're probably worth less today than they were the day they were printed, once inflation is factored in.
Gender confusion is a mental illness
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December 14th, 2023, 08:39 PM #23
Re: Anybody collect coins?
Has anybody ever ordered 50cent pieces from your bank? I'm thinking of ordering 500.00 worth.
FJB
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December 14th, 2023, 09:44 PM #24
Re: Anybody collect coins?
Your better off buying ammo..
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December 14th, 2023, 10:26 PM #25
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December 15th, 2023, 10:36 AM #26
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December 15th, 2023, 12:28 PM #27Grand Member
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Re: Anybody collect coins?
My son bought $1000 worth a few years ago. After looking thru them all he found one silver Kennedy and two 40% silver so not really worth it. But you could get lucky.
As for holding a bunch of circulated 50 cent pieces there is no upside. They are not going to go up in value and you lose out to inflation. And you have to get rid of them all.
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December 15th, 2023, 12:29 PM #28Senior Member
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Re: Anybody collect coins?
I have, but the return on going through all of the rolls has gone way down. The services that handle wrapping and delivering change to banks (think Loomis, etc.) get bags of change that they machine re-roll into paper wrappers to fill the shoebox size boxes they then ship back out to the banks when they order change. Most banks don't keep more than a box of rolled change in any large denomination these days since the demand is virtually nonexistent. I have gone through a ton of $500 boxes of halves, and I also did it in 2019 and 2020 to hunt the West Point (W) mint mark quarters. I ended up finding over 300 of the quarters, with three of them grading to 67 from NGC.
I started by looking for silver halves but have really only found the 40% silver halves, and maybe one pre-64 half in all the boxes that I have searched. I have found more error coins than silver in the boxes, like the NIFC halves, which were minted, but then boxed and were not supposed to have actually been circulated (Not Intended for Circulation, NIFC). They carry a slight premium, but not too much. They typically are nice looking since they are very lightly circulated.
While the coin suppliers are not supposed to be legally permitted to pull silver coins out of anything that comes into them for repackaging, the weight of the silver coins makes many of them drop out of the automatic wrapping machines as opposed to the clad coins that are being wrapped, like the reject slot at a Coinstar at the Walmart or grocery store. "Oh, we were not sorting for the silver, these just fell out by weight....."
Best results are with the smaller, local based banks, all of the larger banks and chains really don't like ordering change for individuals, they do have to pay for what they order since it is not being stored and stocked from the bank itself, or other branches. They will try to charge you for the cost of ordering if they can get away with it. Make friends with the tellers, let them know that you will take any old or odd type of change, large dollar coins and halves, and many will set them aside for you. Doesn't hurt to bring them a Starbucks gift card for their help. You will still get mostly clad stuff from what they set aside, but once in a while, they will have a small jackpot for you. And when you break down that box of halves, don't just roll back into the bank with them and expect them to swap out a new box for you. Helps to spread the deposits over several branches, or another bank entirely. The more the better. I find a local credit union has a change machine for customer use if you have an account there, so I don't bother a teller with depositing all of those heavy coins, i just get a slip from the machine, take it to the teller, and the deposit is in my account. Giving up all my best secrets here.
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January 20th, 2024, 10:36 PM #29
Re: Anybody collect coins?
I was just thinking about this. I just ordered 25.00 in pennies. When I pick them up I'm going to order 500.00 in halves.
Worst case scenario, I cash them in next winter. I'm wondering is it worth it? Who is going to give you the silver amount if the coin has no other values?
I just found this penny today. I did all the weighing and alignment of the date. It's in half decent shape too.
FJB
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