How do you get started coin roll hunting?
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Thread: How do you get started coin roll hunting?

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  1. #1

    Jun 2021
    1
    All Types Of Treasure Hunting

    How do you get started coin roll hunting?

    So today was my first day coin roll hunting. I really did not know how to start off I live in California and called my local chase and asked if they had any half dollar coins. Luckily they were the only one who had a case of $500 worth of half dollars. I bought it and found four 40% silver coins, one 1965, one 1966, and two 1968, I also found this intresting shiny half dollar from 1987-P. I was wondering how do you get money for the coins and what if they are in bad shape? Also what is a good way to continue this without spending too much money. I want to do dimes next as I heard they have the second highest silver content next to half dollars. I was wondering what other banks I can use in California, I know that Golden 1 Credit Union is ruled out or so they have told me. Please list tips and suggestions! Thanks!10.0.0.0.1 192.168.1.254
    Last edited by MichelKesin; Jun 16, 2021 at 06:55 AM.

  2. #2

    Jan 2016
    481
    1008 times
    Quote Originally Posted by MichelKesin View Post
    So today was my first day coin roll hunting. I really did not know how to start off I live in California and called my local chase and asked if they had any half dollar coins. Luckily they were the only one who had a case of $500 worth of half dollars. I bought it and found four 40% silver coins, one 1965, one 1966, and two 1968, I also found this intresting shiny half dollar from 1987-P. I was wondering how do you get money for the coins and what if they are in bad shape? Also what is a good way to continue this without spending too much money. I want to do dimes next as I heard they have the second highest silver content next to half dollars. I was wondering what other banks I can use in California, I know that Golden 1 Credit Union is ruled out or so they have told me. Please list tips and suggestions! Thanks!
    First thing you want to do is to read the
    BEGINNERS GUIDE TO COIN ROLL HUNTING
    It is located just above your post

  3. #3
    Charter Member
    us
    Nov 2012
    Maryland
    XP Deus, Tesoro Cibola, Full sized shovel
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    All Types Of Treasure Hunting
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    It isn't especially easy. The making money off it part. I did it for awhile but haven't bothered in most of 2020 and this year. My problem is the closest bank is 7 miles away, and I don't have an account there. So...the driving mileage would eat up any profits. Some people sell the silver to coin dealers, but you need a few rolls of it to make it worth while. Other sell on the net, but with the new IRS rules and the high fees, you need a lot to make that happen.

  4. #4
    us
    Mar 2015
    Bodymore, Metalland
    Minelab Excal, Safari, Garrett infinium, Whites prizm 4
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    There are plenty of silver bugs out there that want to buy your 40% and future 90% coins at daily spot value or close to it. Its a win win since they usually would pay a 10% premium on coins. Its a shame you can't put coins on facebook marketplace. Believe me I've tried. I'd wait until you have a full roll of 20 40% half dollars and then sell so you're not running around for very little gain. Maybe a flyer on a bulletin board at a local library. Craigslist is pretty deserted except for scammers these days. I'd be careful where you meet up as well. The police department lobby or somewhere with security/ police presence is good for safety and deters would be criminals. I used to give our scary ogre looking security guard a ride home and would stop to do coin deals and buy him a snack for his time. It was cool to be able to meet a stranger at a McDonalds or Walmart parking lot with my armed guard sitting next to me. I never had any trouble but thats due to a little luck and skill. Truth be told theres not much money in the coin game for us collectors. In my best years I made $5 in silver value (not face value lol) an hour and easily burned that in gas. Recently with covid my searches are much less productive but my passion for finding old coins outweighs the desire for monetary gain so thats something each of us must consider when crh-ing.

  5. #5

    Feb 2006
    1,816
    1935 times
    Limiting coin roll hunting to silver is, in my opinion, shortsighted. Over several years I have developed a rather lengthy list of collectors and the types of coins they are interested in. Errors, types, condition, etc. This means spending time on websites and blogs dedicated to coins. Silver is a bonus. Please note that this is NOT a way to get rich quick, but can be marginally profitable once you have developed a network of potential buyers. Time for more coffee.

  6. #6

    Dec 2006
    Twin Cities, MN
    Garrett Ace 250
    2,523
    211 times
    All Types Of Treasure Hunting
    Quote Originally Posted by MichelKesin View Post
    So today was my first day coin roll hunting. I really did not know how to start off I live in California and called my local chase and asked if they had any half dollar coins. Luckily they were the only one who had a case of $500 worth of half dollars. I bought it and found four 40% silver coins, one 1965, one 1966, and two 1968, I also found this intresting shiny half dollar from 1987-P. I was wondering how do you get money for the coins and what if they are in bad shape? Also what is a good way to continue this without spending too much money. I want to do dimes next as I heard they have the second highest silver content next to half dollars. I was wondering what other banks I can use in California, I know that Golden 1 Credit Union is ruled out or so they have told me. Please list tips and suggestions! Thanks!10.0.0.0.1 192.168.1.254
    I wouldn't expect to get rich doing CRH today. If you get lucky, you can make a few dollars, but I would guess it's more likely that your profits will be eaten up by gas money to buy and dump coins. Most people that CRH these days are doing so for the thrill of the hunt.

    If you are looking to make money on coins, you are probably better off acting like a dealer and buying collections of old coins and selling them for a profit. Doing so requires knowledge on the value of what you are buying and selling to make sure you make a profit. The big advantages though are that you are not likely to spend as much money on gas or time looking at coins that are only worth face value. In addition, you could come away with a large profit from one purchase vs. a couple of 40% silver coins worth a few dollars over face while CRHing.

    As far as when I started CRHing. Somewhere in the early 80's when I was about 10. I don't remember my exact age, but I remember asking my mom to pick up $10 in pennies from the local bank occasionally around then. It wasn't something I had heard about or read about anywhere else and I didn't realize anyone else searched coins that way until a couple decades later. I only occasionally CRH these days due to my other collection taking up most of my time, but I still watch this forum on a fairly regular basis as it's still interesting to see what others are finding.
    fistfulladirt likes this.

  7. #7
    us
    Feb 2007
    Northern Arizona
    Whites DFX with a Big Foot coil Gold Bug 2
    550
    241 times
    This is a hobby for most of us, drive to a bank we have an account in, purchase 1-2 or more boxes of coins, or picl out what the teller may have in her drawer, go home and sit for a few hours opening each roll, searching for what ever we are looking for, reroll, drive to another bank and turn in to get our money back. Waiting in line, driving back and forth, hunting the rolls and repackaging the boxes is costly and time consuming. Good think I'm retired and have time to spend. Only having face value as a cost of the coin is a misnomer, as we are not counting all the time and expenses involved in finding that coin. I always had two different bank accounts, Chase and Bank Of America, buy from one and dump at the other. Yea, I found coins, and have most all of them still packed away, waiting for the prices of silver to hit the magic mark where i think it is worth selling the pile, but for now it is still a hobby that I enjoy. Look forward to seeing your postings on what you found, good luck.

 

 

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