Question about Half Dollar Bags

[rodzm]

As many of you know I just got my dad into CRH. He has been on an unbelievable roll as of late. So far in less than $200 cashed in he has over $28 in 40% halves and $42.50 in 90% halves. I just spoke to him and he informed me that one of his banks has a $1,000 bag full of half dollars that has been sitting there for a very long time because they cannot circulate them or have any means to get rid of them. Which brings me to the next question...how often can you actually find $1,000 bags of halves in banks and what are the chances of hitting some good silver. I always hear of boxes from the Fed or Brinks but not bags full of nothing but halves.

Is it a rare find to find such a bag and what are the chances of hitting a mother lode if it is indeed rare to find these type of bags.

 

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[Cat J]

Just buy it. Your not going to lose anything.

Good luck
Cat

 

[rodzm]

Just buy it. Your not going to lose anything.

Good luck
Cat

Thats what I keep telling him, the problem is I dont think he has that much right now since he only gets SS and some VA compensation but if his recent finds is any indication he could end up with a couple hundred dollars worth of 90%ers. Im still wondering if $1,000 half dollar bags are easily found or do halves mostly come in boxes or rolls. From what I gather from different people it seems like most huge silver finds are in CWR's or rolls that have been sitting in vaults for a very long time. Boxes dont seem to yield much silver but how about a $1,000 bank bag of halves

 

[cyberdan]

It is probably a bag from their counting machine. I have bought $1000 bags of big dollars but never halves. They will usually pull the bag when it reaches $500, easier to carry.

If you can loan him the money go for it or go 50/50 all the way. The worst that can happen is having to make a $1000 deposit at your dump bank.

 

[rodzm]

It is probably a bag from their counting machine. I have bought $1000 bags of big dollars but never halves. They will usually pull the bag when it reaches $500, easier to carry.

If you can loan him the money go for it or go 50/50 all the way. The worst that can happen is having to make a $1000 deposit at your dump bank.

Thanks for the info...the bank wont even let him take a look at the coins because the bag is sealed. Truthfully I doubt there is a coin machine at that bank since I know for a fact that the banks in his location do not have machines. It seems rather odd for a bank to hold $1,000 worth of halves in a bag. According to some websites the only time the US mint shipped coins to banks in bags was prior to 1965.

This is what one website posted in regards to US Mint bags prior to 1965:

"Because U.S. Mints originally shipped 90% coins in $1,000 face value bags, today "a bag" refers to $1,000 in face value. A bag of dimes contains 10,000 coins; a bag of quarters 4,000 coins; and a bag of half-dollars 2,000 coins. However, pre-1965 U.S. coins are often sold in quantities smaller than $1,000 face value."

I could understand a mix of coins to make a $1,000 bag but an entire $1,000 bag of half dollar coins which by the way were only sent by the mint as 90% coins leads me to believe that this is an original pre-1965 US mint bag. I highly doubt that the bank accumulated half dollar coins to make thier own $1,000 bag of only halves

 

[Narthoniel]

These bags are nto so uncommon. There is one person on these forums who has mentioned that he searches 7 $1000 bags of halves a week. In addition, my dump bank has a coin counting machine which sorts half dollars into its own bag, and it tops of at $1000. But since this bank doesnt have a coin machine, who knows where the bag came from. All I can say is, go get it fast!

 

[Shake-N-Bake]

I am sure it is from a counting machine. The bank may not have one for public use but I am sure they have one in the back for their use. It is from what they have collected as people turn in the halves. I can pretty much assure you that it is not a bag of 1964 silver halves from the mint still sitting in the vault. Best advice buy the bag.

Happy Hunting,
Jason

 

[Cat J]

Well where is he I can go buy it... LOL

Bags are not easy to find really unless it is someones dump.

HH
Cat

 

[Ju8vP3t]

Like the other poster said, buy it, what do you have to loose? and potentially lot's to gain

 

[BBcardsRI]

Those of us who have bought bags before know that you DO have something to lose in buying them.

Between the bag being short, and having foreign, tokens, quarters, etc. counted as halves, you can get shorted quite a bit buying a $1000 bag. They can be off by as much as $50 or more.

Anywho, a bag that has been there a while... I would bet a pretty penny it has at least SOME silver in it, if not a dream bags worth.

It has been there a while, and there is only one of them. If it were dumps, the odds are that there would be more than just one bags worth, or that it wouldn't have been there that long. If they don't have a coin counter machine, that is even a better sign, meaning that it is even more likely to be a bunch of different customer dumps.

Go to the bank and ask if anyone remembers where the halves came from... primarily if the majority or totality was from one person or a bunch.

Never be afraid to ask tellers questions... it can save you A LOT of time and money!

~Dave

 

[sneak]

Don't ask any questions, just buy it!

 

[jim4silver]

Banks send their halves to their coin couriers via bags. Around here they use 1000 dollars per bag when they send them to Brinks generally.

No way in the world that bag has been sitting in that bank since the 60s and contains all silver coins. Here the banks like to get rid of full bags of halves as soon as they can by having their coin courier pick them up the next time they are there. If the bank wanted to they could have done the same thing. Dont know why they would hold it and act like they had no way to get rid of it.

If the bag comes from a coin machine that collected for a while it could be the best score out there. If it accrued quickly it is someones dumps most likely.

Hope it works out to be a good score for your dad.

Jim

 

[LJ]

What is the name of the town and bank that has this bag? I see a quick road trip......j/k....

Like Cat said.....just buy it.....you can't lose in this hobby. Within an hour you will have your money back less the silver keepers.

To answer your question.....In my area, every once in a whole a bank will have a bag that they have accumulated over time. I actually picked one up last week, but this is not the norm in my area. The only bags in this town were my dump bags.....lol.

Buy the bag and let us know how it turned out.....my curiosity is now peaked!!

 

[Cat J]

Don't ask them any question just hurry up and buy it before they get rid of it. They have to have one thousand in the bag in order to get Brinks to haul it away. So it may not be there long if you wait.

HH
Cat

 

[maine_Jim]

I agree - grab the bag before it is gone. I've never been able to get a full bag here but if someone happened to inquire at my favorite dump bank...they could pick up a dozen a week!

Maine_Jim

 

[coinmojo]

I will buy this bag .... Where is it ?


Mojo

 

[rodzm]

I will buy this bag .... Where is it ?


Mojo

Would you be willing to take a flight outside the US? My dad doesnt live anywhere within the 50 states, which leaves you the US Territories (which one?, I wont say

 

[cyberdan]

My dad doesnt live anywhere within the 50 states, which leaves you The US Territories (which one?, I wont say

You never mentioned that before. That is a vital piece of info. In any territory it probably took many years for them to accumulate that many halves. It could very well have a ton of silver in it. Guam and the other Pacific islands are just too far for silver to build up in any amount. Now PR and VI might be a different story. But I still have difficulty believing that modern Americans brought any halves with them while on vacation. Halves barely circulate here in the U.S. That could be an old bag that just got buried for many years.

Have him go for it if at all possible.

 

[rodzm]

You never mentioned that before. That is a vital piece of info. In any territory it probably took many years for them to accumulate that many halves. It could very well have a ton of silver in it. Guam and the other Pacific islands are just too far for silver to build up in any amount. Now PR and VI might be a different story. But I still have difficulty believing that modern Americans brought any halves with them while on vacation. Halves barely circulate here in the U.S. That could be an old bag that just got buried for many years.

Have him go for it if at all possible.

And you can see now why I am so excited about his recent find...

I spoke to my dad just now and the bank informed him that they would have to charge him a fee to take the bag, which I said to gladly pay for it even if it is 10 or 20 bucks, in addition they told him the bag weighs exactly 50 lbs. Now how would they know the exact weight unless of course it says it on the bag or they actually went out of their way to weigh the bag for my dad. Highly unlikely that they went out of their way to weigh the bag. Either way things are looking very good because of his location.

The more I hear about this bag the more I think it is an original US Mint bag of pre-1965 coins. Probability is slim but even if it is customer dumps the chance of finding silver is very good since people where he lives at, are not into searching for coins like many in the states do. He is picking up the bag next week, I told him to hurry up. Worse case scenario is that he will have a CHR's dumps and he ends up with a skunk bag but he still ends up with $1,000 so its no money lost.

-Manny
Who loves searching for halves
{$}

 

[coolpix9]

Maybe you could get Geraldo Rivera to help open the bag. Cheers. Jim