5000 Wheats (and counting)

[Rosco53]

Didn't really realize it until I updated my spreadsheet, but I've found just over 5,000 Wheats since I started sorting. Only took 943,000 coins! :-p Sadly, this wasn't the 5000th one, but still worth a post here:


No VDB, but still one hell of a find I think, and in decent shape for 110 years old!

Also found this lamination error too:


Happy hunting everyone!

 

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[rcb187]

rcb,

I think $10/roll might be an overly generous offer on your part - and that many on this forum would sell you rolls for less. But it would be a bargain in the remote chance there was a key date in one.

Even if the credit union does not work out for membership, check the non-member fee for its coin machine. My credit union charges nothing for members and 5% for non-members. I struck up a conversation with a guy feeding $1000 of dimes in the coinstar at the local walmart - charging 12.9% and told him there was another machine nearly across the street charging only 5% and he couldn't be bothered. Using the credit union machine would have saved him about $80 even as a non-member.

oh great idea! i am going to try for a membership, i have confirmed they have a coinstar there. lmao that is quite funny, but sad at the same time.

as far as the uncirculated rolls goes, is it possible to find truly unsearched , uncirculated rolls online for less than 10$?

question about penny returns to banks, should i also distribute my penny returns, i have done about 12,500 pennys in 5 days. but i have refined my strategy and i think i can do about a box a day. I will prob open up a free account at wells fargo for returning the 1/2 dollars, but am still curious about the penny, i suppose i should just distribute them as well since i am going to open up multiple accounts.

 

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[Megalodon]

oh great idea! i am going to try for a membership, i have confirmed they have a coinstar there. lmao that is quite funny, but sad at the same time.

as far as the uncirculated rolls goes, is it possible to find truly unsearched , uncirculated rolls online for less than 10$?

question about penny returns to banks, should i also distribute my penny returns, i have done about 12,500 pennys in 5 days. but i have refined my strategy and i think i can do about a box a day. I will prob open up a free account at wells fargo for returning the 1/2 dollars, but am still curious about the penny, i suppose i should just distribute them as well since i am going to open up multiple accounts.

Oops - I missed the condition of those rolled cents as UNCs. That could be worth buying!

You'll soon become intimately familiar with how the coin machines work once you start filling their bags. I try not to dump more than $400 in halves per week or two in a machine that uses bags, but I've dumped as much as $900 in free coinstars since they have no bag to fill. I don't go close to closing time or when they are busy - like late Fridays or any time Saturday. Use several branches so you don't become a pest who requires frequent bag changes at one location.

I don't do cents, so will leave that advice for someone who does them.

 

[GMan00001]

oh great idea! i am going to try for a membership, i have confirmed they have a coinstar there. lmao that is quite funny, but sad at the same time.

as far as the uncirculated rolls goes, is it possible to find truly unsearched , uncirculated rolls online for less than 10$?

question about penny returns to banks, should i also distribute my penny returns, i have done about 12,500 pennys in 5 days. but i have refined my strategy and i think i can do about a box a day. I will prob open up a free account at wells fargo for returning the 1/2 dollars, but am still curious about the penny, i suppose i should just distribute them as well since i am going to open up multiple accounts.

As far as cashing in unwanted coins, it ultimately will depend on where you live and how many banks/branches there are in your area. If you live in a more rural area with only a few banks to pick from you'll either have to spend more in gas to spread it around or dump at the same banks/branches fairly frequently.

If you are in a large city with lots of banks/branches to choose from without burning lots of extra gas, I would spread it out at least somewhat depending on how much volume you are doing. If the bank has a self serve coin machine that doesn't bag the coins (big box underneath), my max cash in was usually what I could carry into the bank in one trip from the car. If all cents, that was usually 4 bags with ~$50/bag or ~$200 worth. If at a bank I rarely went to, I would sometimes increase that to two trips to the car. My largest volume dump was about ~$1275 dollars with all but $100 or so being in cents.... took many trips to the car, of course I think that was one of the only two times I ever cashed in at that branch.

Back in those days almost all my dumps went to Wells Fargo as it was the most convenient for me, but they no longer have coin machines in my area so today I would have to roll them or bring them somewhere else. Ultimately, you'll have to figure out the best strategy for you in your area and in may take some experimenting. In general though, you probably will need an account at any bank you want to use to cash in. Ideally your dump bank will use a different armored service than the one you pick up from to make it less likely to pick up your own dumps. Of course, if you are buying bags directly off the coin machine, that wouldn't matter as they aren't coming from the armored service anyway.

The other thing I did was to keep a log of all my pick ups and dumps in the odd event I should ever get audited and somehow a question was ever raised about odd transactions, I had records to prove there was nothing illegal going on. I also tried to stick to cash transactions (buying and dumping) so ideally there was no audit trail anyway, but my logs were my backup. Again unlikely to ever be needed, but I cashed in ~$500,000 in coin over the 8 years I was CRH'ing heavily, so I wanted to be certain it would never be considered "taxable" in any way if there was ever a question.

Like Megalodon said, the one thing you don't want to do is become a pest either on the buying side or the dumping side by doing things like demanding the bank sell you coin or other activities. I heard plenty of stories from the bank tellers at branches I frequented about people making demands or just plain being rude and thinking they were owed whatever... Treat tellers with respect and they will likely do the same. I know some people like to say they bring treats to their tellers. Personally, I never felt it was necessary and sort of feel like a gift to a bank teller is sort of a "bribe" which viewed in the wrong light can make you look shady and I didn't want that. Ultimately, they are in the service industry and just doing their job.

I only had one lead teller ever give me a hard time for dumping coin, but that was only because one of the other tellers early on had told me to dump as much as I wanted at that branch, so I started dumping there frequently (not quite daily, but frequently). After a discussion with the lead teller, I just spread it around instead and tried not to stop at any one branch more than about once a month for dumping.

 

[A2coins]

Thats a good amount of wheats to add to your collection. Takes more time and patience then I have to microscope all those coins. I stopped that also. keep up the good work and good luck