Halves with no reeding - worn off

[Ben Cartwright SASS]

I find many of my boxes have halves with the reeding worn completely off. In that past people have said this is caused by slot machines at casinos, but is that true? First I don't know of any half dollar slots second with only two casinos in NE how can that many halves be ground down.
I have rarely found silver in a box with lots of reedless halves, but EVERY box of halves has some if not half with no reeds.

I have never seen this in dimes or quarters only halves.

what causes so many reedless halves?

 

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[LooseChange]

I believe the casino explanation and remember half dollar coin slots up to about 10 yr ago.

I've found WL and Franklin halves with no reeding. I'd post a pic, but all of my finds are in SDB at my credit union. If I remember next time I go to the SDB, I'll snap a few photos.

 

[Ben Cartwright SASS]

Until about 10 years ago the only casinos in the Northeast were in Atlantic City, that couldn't explain all the tens of thousands of coins with no reeding in the Boston area as I don't think the coins from Atlantic City would migrate up here in those quantities
Thoughts

 

[LooseChange]

Slot machine and laundry dryer are 2 known causes of the worn-edge phenomenon. Not saying that it must be one of those, just saying those are the 2 that people talk about. I think everyone would agree that you are not seeing thousands of coins that have spent time tumbling in a dryer. Stay tuned to see if anyone offers a 3rd explanation, I am doubtful (that still doesn't mean that there couldn't be another explanation, just no one here knows).

I think that there are plausible explanations for coins moving from slot machine regions to non-slot machine regions - even a decade after the fact. But, it would all be speculation any way around.

 

[CJ9]

It is slot machines. Remember these coins would go continually in and out of the machine for years. In new england they used to use them at foxwoods. When they Didnt use coins anymore they were returned to the courier and then ended up in general circulation in greater quantities.

That is one if the reasons i dont like searching boxes of halves - you are right you get a lot of those unreeded ones in boxes.

 

[Ben Cartwright SASS]

This last of 4 boxes was about 40% coins with the edges worn off. in all 4 boxes I would say it averages about 35-40% no reeding

found a single 40% 1968 D in the 4 boxes, started to question the quest

 

[CJ9]

This last of 4 boxes was about 40% coins with the edges worn off. in all 4 boxes I would say it averages about 35-40% no reeding
found a single 40% 1968 D in the 4 boxes, started to question the quest

I don't search boxes. I think I have searched 3 total in 20+ years of searching. I decided to get one last week and, surprise, I got SKUNKED (wrote about it in another post) and there were a lot of coins with reeding worn off. I never found silver in a box.

This means I search much less volume that others do (CWR and loose coins from tellers), but I find that the return is much higher. Also, I don't have access to a free coin counter. Between no counter and time, I really cant handle the volume with boxes either. Just my opinion and I am only saying what works for me. Seems as if many people here have had a lot of success with boxes.

 

[diggingthe1]

I worked as a slot tech at a casino for a bit. The coins constantly spin in a metal disk that dispenses them. This causes the rims to wear. The insides of the machines have large amounts of coin dust. I have no idea how the coins migrate. I sure used to love to root through the halves!

 

[Ben Cartwright SASS]

So that makes sense for "grinding" the coins. The only thing I can think is that people went to Foxwoods or the 'sun in CT and rather than cash in the halves at the casino brought them back to Boston to cash in and they now years later still sit in the supplies being sent out over and over. I know they stopped the half slots about 10 years ago but other than CRHers who gets halves? Nobody. We keep searching the same coins over and over hoping for a dump from customers. I am watching two bags at 2 banks who will sell them to me. Over the months they are increasing by a dollar or two a week.

I sometimes wonder if it is worth the effort to me. Last year I kept track of my mileage and gas (not the hours spent) and my cost in gas was about $600

Now this year I had 4 dumps that I stumbled into and don't anticipate that this year, but I did make money

total miles driven 3680, at 16 mpg (Jeep 4wd around town) total cost at $2.50 a gallon $575.00

total coins found 137 90% (.50 .25 .10) and 204 40%, melt value $981.96

profit $406.00

but I spent about 160 hours sorting coins so my hourly rate is about $2.50 an hour. Of course I am watching TV while I do this, but it is better than the 39 cents an hour I averaged when I did metal detecting.

 

[Diver_Down]

As others said, they are casino halves. But also don't discount the effect of us hunters on rate of wear the half dollar exhibits. Any other denomination is processed by a courier, boxed and delivered. That coin might take years before being run through a coin counter again. Whereas halves don't circulate. We buy our boxes, search them, and dump them. They are returned to a courier and processed again. The cycle is repeated multiple times a week. That continuous cycle takes it's toll on each coin passing through the counter.

 

[Megalodon]

As others said, they are casino halves. But also don't discount the effect of us hunters on rate of wear the half dollar exhibits. Any other denomination is processed by a courier, boxed and delivered. That coin might take years before being run through a coin counter again. Whereas halves don't circulate. We buy our boxes, search them, and dump them. They are returned to a courier and processed again. The cycle is repeated multiple times a week. That continuous cycle takes it's toll on each coin passing through the counter.

Until recently, this explanation was also my understanding about the boxes I was getting at my bank. All rolls in 2018 were obviously machine wrapped and crimped at both ends. This year however, I have been getting boxes that have clearly been hunted and returned to the bank. The coins were re-rolled in the original torn wrapped, some taped, and many sliced open by edge hunters. I will ask tomorrow at the bank if they have changed couriers and see if they have an explanation for what I have seen. I have little to lose as I am so discouraged that I may quit after a few more of these boxes. I don't mind regular skunks that are machine rolled because there is still a possibility - but these rolls are just someone's rejects that have not gone through the normal process.

 

[Ben Cartwright SASS]

I have been lucky and never gotten sealed boxes like that. The closest was when the head teller dropped the box and it and some rolls split open, that was my box with the 14 silver in it. She went out of her way to tape the rolls back up for me and was apologetic

 

[Megalodon]

I have been lucky and never gotten sealed boxes like that. The closest was when the head teller dropped the box and it and some rolls split open, that was my box with the 14 silver in it. She went out of her way to tape the rolls back up for me and was apologetic

I'm going back & forth about what to do tomorrow when I pick up my two boxes at my local bank. Tempted to open the boxes right on the counter and reject them if they are the same as what I have been getting. But if I start rejecting boxes, I think it would be more honorable to cancel my standing orders. I'm hoping there is an explanation that won't force me to quit.

 

[Megalodon]

This is what the last seven boxes and rolls looked like - just as they came out. I don't slice rolls or edge hunt. These are the first Loomis rolls i have seen as well, so a big change from the machine wrapped rolls in white wrappers with black lettering that I saw in 2018.

 

[Ben Cartwright SASS]

That is disgusting! They have been worked and turned back in. Did they also re-tape the lid with the brown paper tape?

Are they coming from the armored car company or does the bank have a stock of them? How many banks do you have in your area who will order halves or can you find a branch/bank some 10-20 miles away that may have different sources?

When you take the coins back do you take the entire box and just deposit it or get cash, i.e. could you not only spray paint the ends of the rolls but the box as well?

How many boxes have you gotten this way and do you have a coin counter you could dump them in to get them out of the current condition? I wonder if it is the people at the bank or a CRHer? I think I am trying to say I wonder if it is someone currently doing it and you would fighting against them or done in the past and they are just going through those boxes at the couriers and you will get through them?

You may also take a break from halves to wait it out, but I would look for other banks to get coins from

 

[mark1982]

This is what the last seven boxes and rolls looked like - just as they came out. I don't slice rolls or edge hunt. These are the first Loomis rolls i have seen as well, so a big change from the machine wrapped rolls in white wrappers with black lettering that I saw in 2018.

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This started happening to me about 5 years ago. A teller that I was friends with was able to pin down the hunter that was doing it. She stopped ordering and taking in halves for him and told him why. Never saw a box like that again.

 

[Ben Cartwright SASS]

This started happening to me about 5 years ago. A teller that I was friends with was able to pin down the hunter that was doing it. She stopped ordering and taking in halves for him and told him why. Never saw a box like that again.

Meg you may mention it to the bank maybe as Mark did they can do something about it? Tough call...

 

[Megalodon]

That is disgusting! They have been worked and turned back in. Did they also re-tape the lid with the brown paper tape?

Are they coming from the armored car company or does the bank have a stock of them? How many banks do you have in your area who will order halves or can you find a branch/bank some 10-20 miles away that may have different sources?

When you take the coins back do you take the entire box and just deposit it or get cash, i.e. could you not only spray paint the ends of the rolls but the box as well?

How many boxes have you gotten this way and do you have a coin counter you could dump them in to get them out of the current condition? I wonder if it is the people at the bank or a CRHer? I think I am trying to say I wonder if it is someone currently doing it and you would fighting against them or done in the past and they are just going through those boxes at the couriers and you will get through them?

You may also take a break from halves to wait it out, but I would look for other banks to get coins from

Yes, the box lids were re-taped and from external appearances, it looked like a normal box.

I will ask if these came from another CRHer or if they came from the armored car. I got 7 boxes like this at two branches of my bank about 25 miles apart. I have been dumping them at six branches of my two different credit unions.

I've never returned reject coins in boxes. I count and put my rejects in plastic jars that hold from $200 to $300 each and dump those jars into the coin machines at my credit unions. I take the torn paper rolls and the cardboard boxes to our recycling center on the way to the bank.

I have the pics to show the teller today. One thing that has changed is the bank hired a new teller and these bad boxes coincide with her start. But that is only at one branch, and I am seeing this at two branches. I may open a box on the counter today and if the same, reject it, cancel my standing order and close my accounts there. This is the only bank that I have found willing to order halves. But I'm just wasting my time dumping someone else's rejects.

 

[Megalodon]

Meg you may mention it to the bank maybe as Mark did they can do something about it? Tough call...

I may point out to the teller that I handle my dump coins more ethically by taking them to coin machines rather than returning them to the pick-up bank where they would be a nuisance. This should be the golden rule of CRH but today, many people don't care about doing things the right way as long as it serves their own selfish interest and the hell with everyone else.

 

[Megalodon]

This started happening to me about 5 years ago. A teller that I was friends with was able to pin down the hunter that was doing it. She stopped ordering and taking in halves for him and told him why. Never saw a box like that again.

Thanks Mark,
Yes, I know there is at least another half dollar hunter using this bank. It is the only bank around that will order halves. I'm going to ask some questions today when I make my scheduled 2 box pick-up. I'm thinking about opening the boxes in the bank and showing the teller. I've done a lot of business with this bank but I don't want to come across as threatening. If it can't be resolved though, I will (politely) cancel my accounts there.