Lets all get together
- Thread starter Cat J
- Start date
Cat J said:
It sounds like if we dump every thing into one reserve the others will be forced to crack open those ballistic bags to cover the demand. Logistics though are tough.
That or everybody has to hold on to their coin for a couple of months............Run the system dry..........I would have to secure a loan........... Don't have that much capitol...........Withholding our dumps for 2 months should do it..........
You know if I would have pulled all my money out of the stock market 3 months ago and did just that, I would have saved myself at least 20% wich is what I'm down this year.....Do you think I would be down that much if I had it sitting in cold hard cash since Janurary?....... I would be way ahead of the game..........instead of being down 20% I would break even if all the boxe's were skunk. and if I get silver coins out those boxes.... well you can figure it out..........+ 300% and more
What do ya think?...... most cost effective scenario....once the silver starts to pour in you can say you cracked a bag..... should be obvious.... might not find any late date coins, how long could you hold out?.....deplete and dump....open the flood gates. but that might only crack 1 or 2 ballistic bags......... so it might have to be a sustained period. say one year.
The coins are definitely recirculating given all of our methods.
Mortage loan anyone?
Mojo
Jsayre1234
Jr. Member
- Mar 13, 2008
- 78
- 2
This sounds very interesting! Where would we go to pick up a ballistic bag? would it come from a bank? Or can we have it be delivered? How much money do I need? I will start Barbecuing the burgers and getting the beer cold!
which reserves wouldnt sell to jackson metals,would sure hate to end up with 100 k of their dumps.Other problem is if you could find out who wouldn't sell to them they probably wouldnt be interested in selling to us either.I actually tried to get brinks to sell me an old pallet but they wouldnt discuss it much...won't sell to individuals.there is actually a fairly safe and easy way for a group of people to cordinate it though if you knew for sure what branch to buy from.I would be in for a partial bag for sure.
Scalper
Bronze Member
Better make that at least 2 bags , the way that this forum rips through coins they wont last anytime... We would have the semi pulled off the side of the highway and everyone would be ripping rolls ... crank up some tunes and a few kegs and it would be like Woodstock but for CRHs ...ha 
Jsayre1234
Jr. Member
- Mar 13, 2008
- 78
- 2
Scalper said:Better make that at least 2 bags , the way that this forum rips through coins they wont last anytime... We would have the semi pulled off the side of the highway and everyone would be ripping rolls ... crank up some tunes and a few kegs and it would be like Woodstock but for CRHs ...ha
Thats what I'm Talking about!
Informative Coin World article from 2001 when the Mint first started using ballistic bags (great name BTW).
Mint set to change coin shipments
Smaller banks could get circulated coins rather than new
By Paul Gilkes
COIN WORLD Staff
The Federal Reserve Banks have begun notifying all depository institutions within the geographic regions they serve about the pending changes in which the U.S. Mint will ship freshly struck coins to the FRBs and subcontracted armored carrier companies.
In a letter obtained by Coin World dated Jan. 29 that the Federal Reserve Bank of Cleveland sent to all depositories, financial institutions and armored carrier companies within the district, the FRB notes it will handle the needs of institutions requiring smaller quantities of coins by shipping circulated, rather than new coins, in canvas bags. This move is eyed by many in the collecting community as having a potentially disastrous effect on numismatists attempting to find Uncirculated examples of the newest U.S. coin issues, particularly the State quarter dollars. It is not known if this circulated coin vs. new coin policy is being implemented in all of the Federal Reserve Districts.
Officials of the 12 Federal Reserve Banks, their respective sub-districts and the more than 100 armored carrier company terminals nationwide have known for several months of the Mint's plans to switch from shipping coins in smaller quantities in Mint-sewn cloth bags or metallic/fiberglass tubs to jumbo or "ballistic" bags capable of holding hundreds of thousands of coins, but needing heavy equipment to move.
The Mint launched this effort in late 2000 to package new coin in larger "bulk" bags that can only be handled with a forklift device.
The Mint has already started to package in bulk-bag form Lincoln cents struck at the Philadelphia and Denver Mints. Effective July 1, the Mint will ship all new cents in bulk bags.
Implementation of the bulk bag for the 5-cent coin, dime, quarter dollar, half dollar and dollar coin denominations will be staggered and not necessarily occur in denominational order.
"The Federal Reserve System cash management is in the process of obtaining commitments from the Mint on the sequence that each denomination will be introduced in bulk bag form," according to the Jan. 29 FRB of Cleveland correspondence. "As soon as the implementation schedule for the remaining denominations is finalized, the timeline will be communicated to you. Please be aware that the Mint expects to fully convert all new coin packaging to bulk bag form by March 2002."
Each bulk bag will contain a large volume of coin: for example, 400,000 Lincoln cents, 240,000 Jefferson 5-cent coins, 500,000 Roosevelt dimes, 200,000 Washington quarter dollars, 100,000 Kennedy half dollars or 140,000 Sacagawea dollars.
"As a result, it is likely that all new coin will be dispensed directly into a wrapping machine at an armored carrier facility or at the requesting financial institution's facility, if they are equipped to handle/dispense the bulk bag," according to the FRB of Cleveland letter. "It is also likely that all new coin will be paid out in wrapped form by armored carriers, who charge a fee for this service."
According to Federal Reserve officials, the Mint's bulk bag will hold one pallet's worth of a single coin denomination and will eventually replace the smaller canvas bags of coin that need to be individually handled. Officials say the bulk bag is composed of a double-layer Mylar substance that endures the toughest drop and tear tests. Further, the bulk bag enables coin to be dispensed quickly (in less than one minute) and is highly durable, which is expected to permit multiple uses, according to the Mint.
The U.S. Mint is currently in the final stages of educating the handlers of large quantities of coins how to handle and dispense coins that are shipped in bulk bags. A forklift will be needed to move each bulk bag, which will be secured on a metal pallet, and also to position it over the dispensing equipment provided by the Mint.
Coin handlers will then either dispense the bulk bag into bins or directly into their coin wrapping machine hopper. To facilitate a smooth transition, the Mint is providing bulk bag handling and dispensing equipment at no charge to those coin handlers that choose to continue ordering large amounts of new coins.
© 2002- 2008 Amos Press, Inc.
Mint set to change coin shipments
Smaller banks could get circulated coins rather than new
By Paul Gilkes
COIN WORLD Staff
The Federal Reserve Banks have begun notifying all depository institutions within the geographic regions they serve about the pending changes in which the U.S. Mint will ship freshly struck coins to the FRBs and subcontracted armored carrier companies.
In a letter obtained by Coin World dated Jan. 29 that the Federal Reserve Bank of Cleveland sent to all depositories, financial institutions and armored carrier companies within the district, the FRB notes it will handle the needs of institutions requiring smaller quantities of coins by shipping circulated, rather than new coins, in canvas bags. This move is eyed by many in the collecting community as having a potentially disastrous effect on numismatists attempting to find Uncirculated examples of the newest U.S. coin issues, particularly the State quarter dollars. It is not known if this circulated coin vs. new coin policy is being implemented in all of the Federal Reserve Districts.
Officials of the 12 Federal Reserve Banks, their respective sub-districts and the more than 100 armored carrier company terminals nationwide have known for several months of the Mint's plans to switch from shipping coins in smaller quantities in Mint-sewn cloth bags or metallic/fiberglass tubs to jumbo or "ballistic" bags capable of holding hundreds of thousands of coins, but needing heavy equipment to move.
The Mint launched this effort in late 2000 to package new coin in larger "bulk" bags that can only be handled with a forklift device.
The Mint has already started to package in bulk-bag form Lincoln cents struck at the Philadelphia and Denver Mints. Effective July 1, the Mint will ship all new cents in bulk bags.
Implementation of the bulk bag for the 5-cent coin, dime, quarter dollar, half dollar and dollar coin denominations will be staggered and not necessarily occur in denominational order.
"The Federal Reserve System cash management is in the process of obtaining commitments from the Mint on the sequence that each denomination will be introduced in bulk bag form," according to the Jan. 29 FRB of Cleveland correspondence. "As soon as the implementation schedule for the remaining denominations is finalized, the timeline will be communicated to you. Please be aware that the Mint expects to fully convert all new coin packaging to bulk bag form by March 2002."
Each bulk bag will contain a large volume of coin: for example, 400,000 Lincoln cents, 240,000 Jefferson 5-cent coins, 500,000 Roosevelt dimes, 200,000 Washington quarter dollars, 100,000 Kennedy half dollars or 140,000 Sacagawea dollars.
"As a result, it is likely that all new coin will be dispensed directly into a wrapping machine at an armored carrier facility or at the requesting financial institution's facility, if they are equipped to handle/dispense the bulk bag," according to the FRB of Cleveland letter. "It is also likely that all new coin will be paid out in wrapped form by armored carriers, who charge a fee for this service."
According to Federal Reserve officials, the Mint's bulk bag will hold one pallet's worth of a single coin denomination and will eventually replace the smaller canvas bags of coin that need to be individually handled. Officials say the bulk bag is composed of a double-layer Mylar substance that endures the toughest drop and tear tests. Further, the bulk bag enables coin to be dispensed quickly (in less than one minute) and is highly durable, which is expected to permit multiple uses, according to the Mint.
The U.S. Mint is currently in the final stages of educating the handlers of large quantities of coins how to handle and dispense coins that are shipped in bulk bags. A forklift will be needed to move each bulk bag, which will be secured on a metal pallet, and also to position it over the dispensing equipment provided by the Mint.
Coin handlers will then either dispense the bulk bag into bins or directly into their coin wrapping machine hopper. To facilitate a smooth transition, the Mint is providing bulk bag handling and dispensing equipment at no charge to those coin handlers that choose to continue ordering large amounts of new coins.
© 2002- 2008 Amos Press, Inc.
Silver Stripe
Bronze Member
Ahaa! Only $50K per bag of halves, that only last a week haha. HH MarkImmy said:
Jsayre1234
Jr. Member
- Mar 13, 2008
- 78
- 2
How would we be able to dump all those coins?
Silver Stripe
Bronze Member
I nominate Coolpix as the official date searcher LOL. HH Mark
Scalper
Bronze Member
Silver Stripe said:
ditto
And the bags look like this:
http://www.alibaba.com/showroom/Bulk_Bag.html
A guy at the Houston branch I just talked to informed me that they house only quarters and smaller in bulk bags over there.
Halves and dollars are all handled and stored in "baby" bags in his words.
http://www.alibaba.com/showroom/Bulk_Bag.html
A guy at the Houston branch I just talked to informed me that they house only quarters and smaller in bulk bags over there.
Halves and dollars are all handled and stored in "baby" bags in his words.
I think this idea could fly but it would take a lot of "inside research" on where to buy and where to dump. Is there a machine that can "id" silver coins, so you don't have to hand search? Install a coin-counting machine in the semi and let it reject a cascade (you hope anyway).
DesertTumbleweed402
Jr. Member
How would we determine who gets what??
Phillip_in_NM
Full Member
- Jul 15, 2006
- 229
- 14
- Detector(s) used
- Minelab Etrac, White's M6, Nokta Legend, Minelab Equinox 800, Nokta Simplex+
- Primary Interest:
- Metal Detecting
According to a mechanical engineer friend, making a machine to separate the coins would be relatively easy. He even said it would be able to separate the 90%'s from the 40%'s. He said he'd make the machine for a percentage of the take!!!
I'm with taropatch - the biggest difficulty would be dumping them. Although I guess each investor could take a percentage back to his regular dump bank.
The idea really has me interested. If you guys get serious, let me know.
I'm with taropatch - the biggest difficulty would be dumping them. Although I guess each investor could take a percentage back to his regular dump bank.
The idea really has me interested. If you guys get serious, let me know.
nyiangelo
Hero Member
What ever happened to Cat J? She used to have some good finds....
Daniel964
Sr. Member
If this is still a going deal I'd like in if it's in my area. I could go for $10,000 if I had some notice.
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