Newbie with a question

[SilverQuest]

I have started getting into silver and coin collecting for about 3-4 months, and have read several posts on here, which tends to get me excited about searching for some coins. Right now searching for silver mainly but want to get into other coins. The searching isn't going too well so far. Have only found two 40% silver halves. I typically buy my rolls in a small town, about 2500 population, where I work. Have not bought a box of halves or dimes yet, typically most of the banks here have between $50 and $100 in halves.

Again I have read several posts and get excited about searching. The silver is eluding me. LOL. After reading one post that talked about looking for other coins because of what we might be passing up. My problem is how does one go about learning what to look for? Being new at this I am having a hard time finding the marks of coins worth collecting. I read that people talk about proofs, dates high, double strike, etc.., but i just don't see it. Any suggested readings, videos, or whatever?

Oh I read a post buy a guy running a website called www.survivalblog.com , where he was talking about saving nickles because so many people arestarting to get into silver searching. The government will be changing the make up of the nickle coins due to increased production costs. Any thoughts?

thanks for all input.

 

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[favored papa]

I can't tell you what to hunt, but it is not a short term thing not a get rich quick thing (very often) mostly it is a start your pile with your 2 40% and go look for more. Expand your area, small town banks are often good.

 

[AGCoinHunter]

Volume, persistence, volume, hard work, volume, researching supply and dump banks, volume, dirty hands and fingernails, volume, volume and more volume. The rest you can find on this forum if you search hard enough. Did I forget to mention volume? This isn't a get rich quick hobby, its work and persistence and more work and more persistence. If you can stomach that, welcome.

 

[SilverQuest]

Just so everyone knows I am not in this to get rich. Its fun to look especially when there is a coin worth keeping in the roll. I have a lot of down time on my hands some days and think this is a way to keep my mind occupied versus playing games on the internet or watching funny youtube videos for the 20th time. Maybe i am just geting old, or maybe i am just on information overload. TV and internet get boring after a while.

 

[packerbacker]

Did you read the pinned thread titled Beginners Guide to Coin Roll Hunting? I suggest you start there and then you could get more specific in your queries. Welcome and good luck.

 

[SilverQuest]

Yeah I read it and it did great on each denomination of coin for silver but in explaining about what to look for for collecting coins it wasnt too great. I wil go back and re-read it.

 

[JT10]

Oh I read a post buy a guy running a website called www.survivalblog.com , where he was talking about saving nickles because so many people arestarting to get into silver searching. The government will be changing the make up of the nickle coins due to increased production costs. Any thoughts?

thanks for all input.

I started saving nickles for that reason too, but when I got into CRHing I first went through them (found one war nickle) and turned the rest in for cash for CRHing. A regular nickle is worth 1.25x face right now, whereas a 90% silver coin is worth 20x face. You cannot sell nickles anywhere currently, but lots of places will buy your silver. If you have the time and inclination to CHR, holding nickles is a waste of money (opportunity cost) that could be spent looking for 90% silver coins.

Personally, I think in the next 5 years we will have inflation bad enough that the government will stop minting both cents and nickles. When they started minting coins in the 1700s, the smalled coin minted was a half penny and the average wage was a dollar a day. If you would assume an average daily wage today of $80 a day (and I am just pulling that number at random, really), that same ratio would mean that the smallest necessary coin today would be 40 cents.

 

[engine 823]

As stated VOLUME is the key here in coin roll hunting. Can you look small amounts and find good coins? Yes but not in any large quanity for the most part. I can say I am probably a small time CRH'er and I look about $5000.00 a week in coin between halves,dimes and nickels. Also on the nickels I only keep nickels older than 1960. I make full rolls of each mint mark and date. I don't do it however for the reason you said but just for the fun of CRHing.

 

[JT10]

As stated VOLUME is the key here in coin roll hunting. Can you look small amounts and find good coins? Yes but not in any large quanity for the most part. I can say I am probably a small time CRH'er and I look about $5000.00 a week in coin between halves,dimes and nickels. Also on the nickels I only keep nickels older than 1960. I make full rolls of each mint mark and date. I don't do it however for the reason you said but just for the fun of CRHing.

If you are a small timer at $5000 then I must be a gnat. I only have $1000 that I can "play" with. The upside is that I never have more than $1,000 to bring to my dump banks. I don't know of a single bank in my area with a coin machine in the lobby, so I hand roll all of my dumps.

 

[packerbacker]

So now, instead of saying, "A penny for your thoughts", you have to say "40 cents for your thoughts".

 

[SilverQuest]

$5000 a week? how do u dump it? but i guess if there are no fees for dumping that much coin then u get it all back (minus ur finds) and just go get more....

 

[SilverQuest]

How much is in a box for halves and dimes?

 

[engine 823]

I do $2000 in halves a week and about $3000 a week in dimes and nickels. I have 2 banks to dump coin at. One has 4 different branchs in two different towns I split my coin between. They all have free coin machines for account holders. I have 5 bank accounts. Like you said there is no cost to dump so short my finds I get my money back in cash and then I go to my 2 pick up banks and get more coin that they have ordered for me the next week. Never pick up and dump your coin in the same spot!
It's just a big rotation between banks. But like I said I believe there are people on here that look much more coin than me.
Good Luck with your hunting!!!

 

[engine 823]

The Halves are $500.00 a box and Dimes are $250.00 a box, Nickels are $100.00 a Box. See how it could get to $5000.00 a week pretty fast!!!

 

[blkcwbyhat]

I've read survival blog too....I'd pass on the nickel idea myself.Would you rather carry a backpack full of 100 in nickel's,or 100 in 40% silver on your back thru the woods? He's a bit radical in his thinking of the end of the world to me.Just watch coinflation for the scrap melt price and let that guide you.

 

[SilverQuest]

as of 12/4

$100 in pennies (1909-1982) = $263.46

$100 in nickles (1946-2010) = $124.58

And 100 Ben Franks (not $100)= 1062.66 @ $29.38 /troy oz silver

according too coinflation.com

 

[fistfulladirt]

I've read survival blog too....I'd pass on the nickel idea myself.Would you rather carry a backpack full of 100 in nickel's,or 100 in 40% silver on your back thru the woods? He's a bit radical in his thinking of the end of the world to me.Just watch coinflation for the scrap melt price and let that guide you.

Carrying a backpack full of fine whiskey would be a lot more valuble in the long run.