Staying up late makes me think

[47thelement]

I live within a hour of the border Fed Banks. The most boxes I have been able to take off the pallet in one week is 20. That was a ton of work and involved over 12 banks between buying and dumping. Now I'm seeing those dumps back...not fun and very little silver.

Here's my idea...

I set up a bank account in the "other" Fed District. Be some what honest with the bank manager. Here is what my story would sound like.

I've had a relative pass away and we know he hoarded halve dollars all his life. I live out of town and it would be very difficult for us to transport them back to my home town. May I please deposit them in your bank in an aggreeable large amounts. On specified days that the manager tells me. I will be leaving the money in the account.

I then go back to my town and take out a sizeable home equity loan (50-100K)

I make arrangements with my local supply banks to purchase as many half dollar boxes as the can order. I will also inform the manager to call me and I will pick them up with in 1 hour of delivery.

I would fill my basement with halves and then start sorting. I would take them to the other fed district and never see them again. Plus I think I would see a big dent in the pallet.

Wouldn't it be fun to search through 100 - 200 boxes of halves? @25#per box who needs a gym membership. I would have to take wagers on the total silver content.

Any input besides beings listed with FBI's Homeland Security List?

 

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[phrostie]

i'm only awake since i just had a baby...but piercesdad, that is an idea dreams are made of. if i only had the time, money and ambition.... Let me know how it goes you crazy sun of a gun!

 

[HolyDiver]

Pierce, that sounds feasible. I wish you well in your monstrous endeavor. Keep us posted.

 

[47thelement]

I just thought of 1 major flaw in this whole thing....


got to get approval from the wife

 

[steif]

The only thing I can think of is would you take out a loan to buy half dollars on speculation? any silver you find will be canceled out by the interest rate I would think... unless you hit it big.. and you know how money is, if you have it in the account, it might just be used for some other "necessities" like a dinner here and gas for the car there, tires, etc.. you know? then you would not have the money and owe a bigger chunk on your home.
The plan would work, but I think it might be better just to do it a little at a time maybe just take 3-4K that way you don't go overboard on the loan...
I'd hate to see someone take out a big loan to do this then spend it on other stuff... I know I would a bit at a time then look one day and not have much to show for it.
Build slowly, get out of debt, then you would have the cash available to do this with little risk of owing money in the end.
I hate to sound like a stick in the mud, and it would be fun, but the thought of owing more usually stops me from doing much till i'm in that debt free zone...lol..

 

[golden silver]

Now your talking addiction!

Golden Silver

 

[FingerGrime]

Good luck!

 

[jim4silver]

I think you would lose money in the end with the interest and any points you have to pay on the loan.

You are way more addicted than I ever was if you are willing to put that much debt on to you and your family for this little "hobby".

If you are gonna get the loan, you would probably do better using that money to become a part time coin and scrap gold dealer, like some posters here do. It would also not take up as much time or be as much of a hassle.

Jim

 

[golden silver]

Although I understand the thought behind it I have to agree with Jim on this one. Very risky...it become something more than a hobbie at that point.

Golden Silver

 

[47thelement]

but I think it might be better just to do it a little at a time maybe just take 3-4K that way you don't go overboard on the loan...

This would not make any dent into the pallets at the fed.

 

[jonhls]

50k sounds like a lot to us but it would not make much of a dent to brinks storage either.In my area i occasional get differt styl boxes or wrappers from same delivery source.This happens when i empty one pallet and switch to a new one.I have timed this and it seems to average a new pallet every 3 weeks.A pallet is 50 k.And i bought from brinks and dumped with garda didnt help a bit.Wish i had a good local souce bank for garda i would wait awhile and switch to buying garda dumping brinks would be lots easier to dump at brinks locales we have tons of them...good luck if ya try it

 

[50centman]

How many lottery tickets did you say you buy a week? Methinks you need about a 20 step program. You know just enough about the system to make you dangerous - " To your family"!!!!!! You're either nuts, over the edge, or this is a joke. Concentrate on your livelyhood and leave this as a hobby.

 

[47thelement]

Folks I'm not saying I going to do this I'm saying it would be fun. And honestly with the success I've had in my area we might try this but on a smaller scale.

If we do 25K we knock it out in a week.

 

[coinmojo]

I would say you could do 20 boxes once a month. That's $10k and than dump them in another district. if it not too far and you could find a dump source in another district.

This is a theory i have written about before but have not acted upon myself.

I can tell you this I work with around $2k in capitol and manage to search $8k a week and I do tag a handfull of coins ea week ( only the dirtiest allready tagged coins) and I get them back sometimes within a month.
Sooo I am searching the same coins over and over again, but still manage to pull a little silver. Because silver is constantly being turned in.

It would be nice to hoard all my searched coin until I max out my capitol and than ship it out to another district. But I'm not certain how far I would have to go. But it would certainly prevent you from getting your own dumps back. for me that would be taking a t least a 1 to 2 hr drive every day. But if I had 20k to work with I would only need to dump every other week.

If I could do that than I would think you would certainly deplete your local source and clear all of their inventory eventually. and than they might have to ship some in from another source.... Hopefully not the one you dumped on............

It's a great plan....... on a smaller scale.

By the way one of the reasons I don't do this is Why should I clear the pallets for the numerous other CRH's in my area.

If you could feasibly do this I'd say go for it......... And keep us posted.

Mojo

 

[buffhunter]

piercesdad - just an FYI. When your district runs out, they pull from the nearby district - probably the one you would be dumping.

 

[obediah]

Am kinda worried about laundering money like this as it is a crime right(?), am averaging cycling 16K thru my accounts a month.