CRH, is it WORTH IT ???

[Dozer D]

I've been giving it some serious thought about if CRH is worth it anymore. I'm going to start record keeping my CRH miles driven (when doing bank hopping), my MPG driven during those miles, = Total miles divide by MPG = # of gals used, gals used x current price per gal. = gasoline cost of CRH trip. COMPARED TO: the number of coins found in those boxes of the trip in AG ounces x current melt price = Coins value from hunt.
Therefore: cost of trip. vs. coins value of hunt. IS IT WORTHWHILE

I know that there are other transportation costs that go into the calculation, as: insurance, license cost, depreciation, etc.
OR, could use the current IRS mileage allowance (i.e. $.52/mile driven) x miles = cost of CRH trip.

Now with idea set, does anyone else look at the cost comparison of the hobby to this extent ? Or, is it just a hobby cost irregardless ?
Comments, or a better idea. HH, DozerD

 

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[Diver_Down]

I've been hunting for over 35 years. Throughout the market fluctuations, it would have been cheaper to just buy junk silver. But I don't do it for financial gain. It is the thrill of the hunt. Ask a fisherman if it was worthwhile. They have poles/reels/bait/licenses/etc. If they just consider the costs, they would likely say they can buy the fish cheaper at market. But no one has any stories to tell of the fish they bought at market.

You yourself experienced the solid roll thrill recently. You could have just bought a solid roll at the LCD, but when you find it in the wild, your heart beats a little faster and the smile gets bigger. It is the memory that is created. You don't forget the experience.

 

[Megalodon]

I've been hunting for over 35 years. Throughout the market fluctuations, it would have been cheaper to just buy junk silver. But I don't do it for financial gain. It is the thrill of the hunt. Ask a fisherman if it was worthwhile. They have poles/reels/bait/licenses/etc. If they just consider the costs, they would likely say they can buy the fish cheaper at market. But no one has any stories to tell of the fish they bought at market.

You yourself experienced the solid roll thrill recently. You could have just bought a solid roll at the LCD, but when you find it in the wild, your heart beats a little faster and the smile gets bigger. It is the memory that is created. You don't forget the experience.

Well said and appropriate to compare to the cost of fishing. Many years, the cost of fish I caught exceeded $1,000/lb - largely because I released most fish and only kept the ones I thought were of a species and size safer to eat and also had damage that would reduce their likelihood of survival if released.

I'm quite sure the expenses of driving to banks exceeds the wholesale silver value. But there is the mystery of the hunt when holding that wrapped roll, and the thrill of seeing that silver edge when pulling away the paper...

 

[Argentium]

CRH "is it worth it ?" The short answer is what do we mean by "it" ? If a cost benefit analysis is reduced to dollars spent vs. dollar value gained in finds , likely most people would say no , it's not worth it . If we expand the benefit side of our equation to include the thrill of the hunt ,and the joy of the finds ,many of us would say - absolutely it is worth it .

 

[smokeythecat]

Like they said, and in a word, no. Monetarily it is not worth it. Say you drive 5 miles to the bank and back. You get a box of dimes with 1 silver in it. The box is short 2 coins, as those are foreign junk. The dime is worth $1.00. The second you turned on the car engine, you lost money. I haven't done much in the last couple years as the banks here give me the stink eye and they can kiss my cat lips. I just don't bother anymore. You need to do it for the chase! Otherwise, just pick up coins at the car wash and outside the drive in windows at various restaurants and you'll do better.

 

[Megalodon]

I've been giving it some serious thought about if CRH is worth it anymore. I'm going to start record keeping my CRH miles driven (when doing bank hopping), my MPG driven during those miles, = Total miles divide by MPG = # of gals used, gals used x current price per gal. = gasoline cost of CRH trip. COMPARED TO: the number of coins found in those boxes of the trip in AG ounces x current melt price = Coins value from hunt.
Therefore: cost of trip. vs. coins value of hunt. IS IT WORTHWHILE

I know that there are other transportation costs that go into the calculation, as: insurance, license cost, depreciation, etc.
OR, could use the current IRS mileage allowance (i.e. $.52/mile driven) x miles = cost of CRH trip.

Now with idea set, does anyone else look at the cost comparison of the hobby to this extent ? Or, is it just a hobby cost irregardless ?
Comments, or a better idea. HH, DozerD

Since most boxes are skunks, the expense costs exceed the return in silver. If I did the math, I would have to admit that I do it as a hobby and not to make money. I won't, however, ignore risks to go out to dump or pick up boxes when the roads are icy/snowy, like today.

 

[Holt0222]

I have to agree with everyone. If you look at any hobby the costs almost always out weight the benefits. It’s peoples enjoyment in the hobby that makes them keep wanting to hunt. If you no longer enjoy the hunt I think it would be time to hang up your hat with CRH.

 

[A2coins]

Its like detecting I go out many times and find nothing. the thing that I love which is half the fun is what I might find. I think if its all about profit and money then the fun would be gone...,.

 

[Twitch]

From a $$ standpoint it is not, and never will be, worth it. Hobby's cost money. People do them because they're fun. If the $$'s lost and time spent worth it for the enjoyment? For me it is, I like to treasure hunt.

 

[PullTabPete]

If you enjoy it, it is worth it. Plus there is a chance of financial gain, try that with a different hobby liking golfing - only expenses.

 

[ArkieBassMan]

I concur with most of the posters above. From a purely financial standpoint, I believe that 90%+ (probably closer to 100% than 90%) of CRHers lose money. Whether or not its "worth" it, can only be answered by the individual.

 

[Scott (Mich)]

Right now CRH-ing is a hobby that does not cost me anything but my time. Every Friday when I cash my check at the bank near work I get ten dollars in nickels. Over the weekend I'll go through them, then roll them up. Then when I have business to take care of at my local credit union, where I also have an account, I'll take the nickels and deposit them. So my transportation time and cost for CRH-ing is zero as I am not going out of my way to do it.

From a financial standpoint, it is one of the hobbies that I have that does not cost me as much as the others like metal detecting (good detectors are not cheap and gas to and from sites can add up too).

I guess my cheapest hobby, which I have not done in years, was fossil collecting, because all I would do was go outside and walk my fields and pick them up.

Every time I use money for other entertainment I often compare that to "How many coins I could have bought from the bank for this money used".

Coin roll hunting is cheap entertainment for me - and exciting.. I found my first 1950-D nickel over the summer. Now I think I only need three more to complete my Jefferson collection. There's a certain satisfaction in finding them in the wild versus just spend a couple of dollars and buying them.

Happy Hunting every one.

 

[Dozer D]

Thanks guys for all the positive reassurance for me to stay in the hobby, it's those type of answers I was expecting. For any NEW COMER coming into the hobby, I hope we all refer them to all your postings that show up HERE.

 

[Megalodon]

I pick up two boxes of halves from one local branch and then dump them at my credit union branch about 25 miles away the next day and then, right away, pick up another two boxes at a different branch of the first bank, then dump those locally at a coin machine at a different branch of my credit union. Its not as wasteful driving as it seems because I will make other stops along the way. Some of my stops on the route are to the dump (recycling paper including the paper rolls and cardboard boxes), the only gas station selling ethanol-free fuel in the area, seafood stores for oysters or crabs, exploring MD possibilities, etc. It seems more wasteful if the driving doesn't accomplish anything other than coin pickups and dumps.

 

[Rosco53]

Its a rather cost effective hobby I think. I collected hockey cards prior to starting this obsession, and lost out on MUCH more money. Sure, I make a special trip into the bank now, but usually do so before/after work so its not much further outta the way. I'm really only "out" the supplies and time then. For me, its not about the money either. Its nice to find expensive ones (I think, wouldn't really know), but I just love the history of it. Finding a coin thats 100 years old fascinates me. Wondering how a person could spend a buffalo nickel and not realize it, or how an innocent cent that no most wouldn't take a second glance at could be worth 100x its value because of an error... Also, if I want to get out, I can simply cash it all in at the bank, or sell the "rare" ones and maybe make up some of the vehicle wear/tear/gas...

 

[Argentium]

Yeah , as mentioned already , you certainly can coordinate your pick ups and dumps with errands that you have to do anyway ,also when you get burned out , take a break for a few months or a year ! you can always get back in anytime .

 

[baddbluff]

I live in Vegas, and to me it gives me the same “thrill” as gambling, with much less downside risk.
I used to collect sports cards, and it was the same thing, but I hardly ever found anything worth the price of a pack of cards.
If I can add my own two cents it would be this....
Like anything in life, you should CRH in moderation. There was a time (for a few years actually) that I was OBSESSED with this hobby - to the point that it was affecting my marriage & relationship with my kids. (Hi, my name is Baddbluff, and I’m a CRH addict.) So, to answer your question - it is worth it if you enjoy it and not let it distract you from a healthy, normal life.

 

[Megalodon]

If you enjoy it, it is worth it. Plus there is a chance of financial gain, try that with a different hobby liking golfing - only expenses.

When I was a kid, I would ride my bike down to the only golf course in town, about 2 miles away, early on saturday and sunday mornings and pick up the shanked golf balls lost the night before. I found the only golfer in the neighborhood who would buy them from me for a war nickel each. War nickels were only twenty years old at the time and could be picked up easily from circulation. I wound up with 5 or 6 rolls of silver nickels this way and some were in high grades. Each of us felt we got the better deal.

 

[da1984]

It depends a lot on your particular situation. I drive a hybrid and the bank I get 4 boxes a week from is only 2.5 miles away from my house. My dump bank is directly on the way. So total round trip for me is costs about 33 cents in gas. Time is about 1.5 hours a week , but it’s free time anyway. So, it’s very dependent on your situation.

 

[Professor of Engineering]

Dozer D,

IMHO: Just have fun and enjoy the thrill of the hunt and find! Our hobbies are seldom cost effective, but they do bring us great joy. Go out a get a box of something tomorrow and have fun.

Doc