New guy says hello, first hunt, and small-time CRH success?

[Lawrence]

Hello everyone. Been a lurker for a little while but I thought I might as well join the party. I've always been into finding things, and after I inherited my grandfather's 90% collection I started looking into expanding it.

Over the weekend I hit about a dozen banks. Maybe a third had no halves. Another third were local/small chain banks that had $18.50 in loose change, out of which I got a 1968-D. The final third were national chains that all had rolled halves in huge quantities--and seemed to be all dumps, and knew it. One bank teller said "we don't have any new rolls" and I got all re-wrapped String rolls. The next bank teller said "I bet you want unopened rolls" and sold me half a box that a CRH hadn't bought. I noticed that bank also had a large pile of recent-looking CWR and re-wrapped machine rolls. The third bank gave me a large collection in nice hard plastic tubes, but the teller said "I hate halves; a few people keep bringing in tons of them for some reason." The final bank's teller didn't say anything, but she mentioned they had $300 in CWR on hand so I'm guessing that's another dump bank.

All the national bank buys were skunks, of course. After my first experience I'm wondering what the best approach is that doesn't involve ordering boxes. I don't see myself getting involved in that volume. Particularly, I'm curious if there's any way to avoid someone else's dumps. Right now I'd tend to think mainly hitting small banks and asking for amounts under $20 would be the most efficient approach. Maybe coin machines? Thoughts?

 

[fistfulladirt]

My approach would to just buy it all. Let the silver gods sort it out.

 

[Bigheed]

if you want to expand the collection as you stated, you need to do volume, however you stated you don't want to do volume....this stuff doesn't grow on trees...

Order 1 or 2 boxes a week and see if you can handle it. You obviously understand the game going to 12 banks, but road trips don't always pay dividends and they soak up time and gas both of which = Money.

Find a supply bank and a dump bank, get 1-2 boxes a week, do your road trip every week or 2 and then see what you've got. You may want to expand, you may think this is for the birds, or you may just be content.

 

[Lawrence]

Thanks. Yeah, I'm not expected great results without high volume, but at least for now this has to be a low-priority hobby for me. I got around $600 over the weekend and I just can't keep up that pace/expense. A coin here and there is fine with me. The places I just tried out were all on my regular paths so I'm not really out the gas.

I suppose I'm mainly interested in how to make the most of targets of opportunity. And since I seem to be surrounded by dump banks, should I give up on these or get a couple rolls now and then to see if any legit CWR show up?

 

[Bigheed]

stop in more frequently at first and try to find the merchant teller or vault teller.....stand in the business line even if you dont have a business account

tellers sell their coins to the vault teller who in turn will ship them out weekly

you need to make friends with THIS person

I have numerous vault tellers who sell me everything every week. It saves the bank money and it gets you tons of coins. I am doing dimes and quarters as well. They probably dont get that many halves but if you make friends with this teller and tell him to buy all the halves from other tellers and that you will stop in to buy them once a week i've never had one say "No"

Bigheed

 

[fistfulladirt]

Keep in mind, if you buy $820 worth of rolls in dumps, the last 2 rolls could be solid. I've made several solid roll scores that way.

 

[santafeboy]

Ive gotten rolls that Im sure were someones dumps and found the occassional 40% half Also as others have stated the tellers could have mixed some good rolls in with the junk I always buy them all. It also makes you on better terms with the tellers for taking away what they consider nuisance coins They are more likely to save halves for you

 

[enamel7]

The only way to avoid dumps is to no buy any halves.
HH
enamel7

 

[Lawrence]

Thanks for the info. Am I correct in thinking that CRHers are reluctant to dump at small banks so as not to get into a bad relationship with a local institution?

The only way to avoid dumps is to no buy any halves.

Right, but if you can't devote more than a $100 on a given day, your odds go down if there're $1K in dumps under the counter when you walk in.

So no one gets the wrong impression, I'm not asking how to score big without trying hard. I'd just like to get the most of out what has to be a limited pursuit.

 

[Goldmanford]

Welcome to TNet and good luck on your finds regardless of how big or small your bank roll is. Have fun!

 

[Lawrence]

Gauging the bank reactions is interesting by itself. Two small places today had no halves, a medium-sized bank had a handful but the teller went over them with a fine-tooth comb, and finally a BoA said how they were out because everyone was always asking for boxes of them.

 

[Lawrence]

Round two with some more errands today--this actually is interesting My own local bank has no experience with coin hunters, but another small local bank down the street had a ton of re-wrapped machine rolls like ones I got in another town. The teller said everything they had comes from a guy who dumps constantly.

While I was changing halves at my bank I had a fellow watching me, and when he saw halves he lit up and said I should save them all. Should have said I'd sell at 0.60 each.