Back after absence thoughts on competition and dump bank

[Ben Cartwright SASS]

I hunted rolls about 4 or 5 years ago, did pretty good, I have no idea what my averages were I was only thinking about the search.

I felt like Indianna Jones, always looking for more. I found this forum last week while researching prospecting in Massachusetts and say the Coin Roll Hunting section, it lit the fire again. Yesterday I got $170 worth of dimes and $40 worth of halves. I found 2 silver dimes and 1 40% Kennedy.

Today being Saturday I went my two of my local coin dealers they each said they have at least 20-30 regular customers who are CRHers. that is alot of competition in my area. One of the dealers suggested only doing halves as being better for return.

I also stopped by my local Bank of America and asked the manager about buying boxes of halves or dimes and he said they no longer to that because a couple customers would order a $1000 a week and dump them back there so they shut it down. Now the 2 guys get bank boxes elsewhere and the manager said they are using his branch as a dump bank and is really ticked about it. He said he would still let me get rolls but will not order boxes.

I took 20 rolls of dimes from him that were "customer" wrapped, I hope he was correct and that these 2 guys are only doing halves, so the dimes might not be dumps.

I wonder if it is better to go back to what i was doing- saving a couple bucks from lunch each day and then buying $15-20 worth of junk silver each week. it is not at face but it is from money that woud go into my stmach otherwise.

But I will not give up yet, i will keep trying and keep records. When I cashed my coins in (that weren't silver) I got the money back in CWR's and am going to go them.

 

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[MrSchulz]

Funny that you do that. Instead of blowing money on eating out, and getting snacks I buy silver coins at my dealer weekly too. It's much better investment.

 

[kfs]

Have you tried the BofA on the next block perhaps that branch has not been beat up by your competition. I always spread my halves out as to not tick off anyone branch to much. As for dimes we look for those also and have done pretty good.

 

[FormerTeller]

I wonder if it is better to go back to what i was doing- saving a couple bucks from lunch each day and then buying $15-20 worth of junk silver each week. it is not at face but it is from money that woud go into my stmach otherwise.

Why not do both?

 

[namster]

If there are that many CRHers in your area there must be a crap load of banks. Keep asking until you find a few willing to order. In my AO there are 4 banks that will not order, 6 that will, and 20-30 more I have not even asked.

 

[BillyOceansEleven]

Have you tried the BofA on the next block perhaps that branch has not been beat up by your competition. I always spread my halves out as to not tick off anyone branch to much. As for dimes we look for those also and have done pretty good.

I'm not sure I would want to order from another BofA branch if I knew for sure there were a couple of active searchers dumping into BofA's supply. If you know others are using that as a dump bank I would follow the crowd and order from a different bank. However this branch manager already is upset by the dumping activity, so I might would avoid dumping on that particular branch (straw that broke the camel's back).

I realize there is probably someone out there dumping into every bank's supply, but if it these two were doing enough to make this branch stop ordering it probably isn't an insignificant amount.

 

[Ben Cartwright SASS]

It sounded like boxes and boxes.

I just went by the local TD Bank, they have a counter that if free to customers and I asked about a limit, they said there was not limit, and mentioned a guy who often does 8-900 at a time.
I am going to open an account there, it is $10 minimum for a no fee savings account, I can deal with that the fee at a single dump in a coinstar is more.

 

[ArkieBassMan]

If your local coin dealers know of 20-30 CRHers, there are likely at least that many or more that they do not know about. More than likely all of your available supplies are being polluted by someone. I would bet that almost every (if not all) supplies across the country have at least 1 regular CRHer dumping into them. I wouldn't even worry about that. If I wanted to order boxes, I would order them. I would only let the results, or more accurately the lack of results deter me from ordering.

With that said, unless you were planning to do massive volume and/or your area produces better than the averages that I have seen posted here over the past few years, you'll likely come out better in the long run by just buying the silver outright. The "unseen" expenses of CRH (gasoline, vehicle wear-and-tear/maintenance, etc) can eat up your profits in a hurry.

 

[fistfulladirt]

Used to be a time when if you searched dimes, they thought you crazy. Nowadays, everyone's crazy

 

[Wickaboag]

I don't want to get awkward here, but what part of mass? =P Im in Worcester County, don't know of anyone around me. And have pretty good averages.

 

[Ben Cartwright SASS]

I don't want to get awkward here, but what part of mass? =P Im in Worcester County, don't know of anyone around me. And have pretty good averages.

Awkward - not! I live in the Foxboro area, about 3 miles from Patriot Stadium, close enough to hate game days due to the traffic! My sister lives in Shrewsbury, maybe when I visit her I should hit some banks!

When I went to TD today I picked up $20 of BWR of pennies to cull out any wheaties and copper, getting about 1/3 copper and 10 wheaties in the first $8.50

BUT just now I came up with a 1909 VDB (not S ) It is F-VF on the obverse and VF on the reverse. according to my redbook it is about a $15 coin!

 

[Wickaboag]

Sweet find, done many boxes, (maybe 15-20) no 1909 :c