absolute newbie at CRHing just heard about it the other day on the daily find

[MD Dog]

So I have gotten some info so far about how to do it, but seeing this forum I now know there's alot more for me to learn. Like when you guys say you buy boxes, am I right in asuming that some of the banks actually have boxes full of rolled coins for sale? If so then how much do they charge for say a box of halves ? For how many coins ? Do the banks resent it when you so called dump a bunch of coins on them ? Do you re roll the coins before doing so ? If so, then where do you get new rolls to reroll coins ? And how do the expenses of buying these rolls, gas costs etc.. compare to percieved increase in income/ value ? ( in other words) Is this CRHing worth the time expenses and effort involved ?

 

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[LJ]

First...welcome UnderBear. I am kinda new to this myself but enjoy it thouroughly. This is what I do and by no means the way it should be done but I will be glad to tell you what I know and maybe someone else can chime in with more details and knowledge.

Most of the time you will have to order the boxes from your bank if you can't find loose rolls...although once in while a bank will already have one, but that is kinda rare. It normally takes about a week to come in depending on what day you order it. The banks have a certain day they place the order. The box is $500 and there are 50 rolls. Each roll contains $10 worth of halves (20 halves).

Some banks resent the dumps....be good to the tellers....I bring breakfeast to my main dump bank...they love it so we are all happy. I try to use different banks for dumps but this one I use is convenient. I do roll my coins back when I do return them. I get my wrappers from the banks I get the halves. Even if I have 100 wrappers or so I still ask at most every bank just in case I hit a dry spell and banks run out.

As for the cost....personally for me it is well worth it....the company my husband works for pays all of my gas so I have no expense...just the time involved in going to all the banks. Silver prices seem to be climbing lately so I guess you would have to weigh it out yourself to see if it is worth it to you. One 40% silver half at current silver prices has about $2.15 worth of silver...that is $1.65 profit. A 90% half has about $5.27 worth of silver which is a $4.77 profit.

Other than that...it is a very fun hobby. There are some great people in here to help you and encourage you as well. Give it a try & good luck!!!!

 

[MD Dog]

Thank you so much Lejeuene, It really doe sound like fun I hope to fill my winter time, but obviously this is something I can do year round. one last question for anyone is does any one know where the banks get these boxes and do they all get them from the same place ?

 

[LJ]

Your welcome UnderBear.

I think these boxes come from the Feds....I am still trying to learn exactly how this works. The last 4-5 boxes I bought were dated November 2006. They are delivered by companies like Brinks..amored car services.

My best results have not come from the boxes....they have come from banks that had rolls that people have cashed in. Once I went to a bank and asked for rolls and they had 22 rolls and the teller said she had them for a long time and was glad to get rid of them....out of the 22 rolls there was 7 rolls that were all silver coins....I was so darn excited. I cringe when I get the machined rolled halves because I know they come out of a box. My best box had about 25 silver coins and my worst box had 2.

 

[nathan104]

The best idea for returning coin is find out if a local bank has a coin counter. If you have to be an account holder, open a savings account there. If you are unlucky, like me, and no local bank has a coin machine, you can reroll the coins in the rollers they come in.

First thing to do is to drive around to local banks and just ask if they have any halves (if thats what you want to search). Many banks will have some. Even the loose ones out of their drawer could be silver. If you don't have much luck, go to your bank you have an account with and ask the teller about ordering a box of halves. Like was stated earlier, they come in $500 boxes and take about a week. Depending on what coin you search, you can also search for errors if youd like to instead of just silver.

Instead of returning them to the bank, you could just spend them also. I pay at Wal-mart and for gas with the rolls I had.

 

[MD Dog]

I like you Lejeuene, you obviously think like me and new exactly where I was headed with that question. If the banks get their boxes from the feds then there's probably alot less likely hood of finding out of circulation coins. There's possibly some fed employees somewhere who are specifically charged with going through the coins and culling out out of date (as they would call them) coins. So I'm thinking cash drawer change from banks, supermarkets, gas stations etc might be a better place to look for the older silver etc..

We got them on the run now ![/size]​

 

[MD Dog]

The best idea for returning coin is find out if a local bank has a coin counter. If you have to be an account holder, open a savings account there. If you are unlucky, like me, and no local bank has a coin machine, you can reroll the coins in the rollers they come in.

First thing to do is to drive around to local banks and just ask if they have any halves (if thats what you want to search). Many banks will have some. Even the loose ones out of their drawer could be silver. If you don't have much luck, go to your bank you have an account with and ask the teller about ordering a box of halves. Like was stated earlier, they come in $500 boxes and take about a week. Depending on what coin you search, you can also search for errors if youd like to instead of just silver.

Instead of returning them to the bank, you could just spend them also. I pay at Wal-mart and for gas with the rolls I had.

Thanks Nathan, Good Idea returning by spending at Wal-Mart

 

[davycoppit]

Welcome and good luck in finding some nice coins.
david

 

[GMan00001]

I like you Lejeuene, you obviously think like me and new exactly where I was headed with that question. If the banks get their boxes from the feds then there's probably alot less likely hood of finding out of circulation coins. There's possibly some fed employees somewhere who are specifically charged with going through the coins and culling out out of date (as they would call them) coins. So I'm thinking cash drawer change from banks, supermarkets, gas stations etc might be a better place to look for the older silver etc..

We got them on the run now ![/size]​

Actually, in my area most of the banks have coin counting machines (I have not found one yet that doesn't) and many of them will not let you buy the bags directly off the coin machine. These are the same bags that once filled get picked up by the armored car services, rerolled, and sent back to the bank in a box. So the coins returned to the bank will just show up later in a box, it really is no different. It typically just depends on the source of the coins you are searching. If most of the coins were turned in by other CRHers, you won't have much luck. If you are able to find a source in which most of the coins were turned in by random people, you will probably have average luck or better. The same applies to all denominations but particularly to half dollars since they do not truly circulate very much.

A lot of your success will depend on how the banks in your area operate and how many other people are CRHing around you.

Regarding making any income off of CRHing. Yes you might make a little bit, but I think for most people it is a hobby. By the time I add gas costs and everything involved I would be surprised if I made minimum wage for my half dollar searches eventhough I have had a fair bit of success. All other denominations are well below that if they are money making ventures at all.

 

[MD Dog]

Hmmm, Guess I better try all methods and sources. Thanks Gman 8)

 

[coolcash2004]

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-CC