Quickie newbie question . . .

[cosmetal]

Hello all,

CRH newbie here.

Quick question:

Has anyone found that buying coin rolls at a bank in an economically depressed area to have better results than buying coin rolls at a bank in an affluent area?

I'm not an elitist, but, like the old saying about gold - "look for gold where gold has been found before".

Thanks!
James

 

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[pjdentry]

Not an exact match, but related...I've found most of my Coinstar finds and best rummage finds in areas that are not affluent.

 

[cosmetal]

Thanks for your reply, pj.

I'm not sure what you mean by Coinstar finds. I know what a Coinstar machine is, but, you can't get coins out of them. Can you?

James

 

[pryan67]

Thanks for your reply, pj.

I'm not sure what you mean by Coinstar finds. I know what a Coinstar machine is, but, you can't get coins out of them. Can you?

James

He's referring to checking the reject tray for coins that were kicked out when people dumped coins. Coinstar rejects most silver coins

 

[yankeesfan4life]

Thanks for your reply, pj.

I'm not sure what you mean by Coinstar finds. I know what a Coinstar machine is, but, you can't get coins out of them. Can you?

James

Yes, you can actually. There is a reject tray close to the bottom of the machine (only opening in the machine besides where you put coins in) and some people don't check for returned coins. You can get anything from foreign coins to modern money and even silver. I advise that you check whenever possible, you never know what you may get.

 

[cosmetal]

Too cool!

Never knew that . . . thank you all for the tip.

James

 

[LooseChange]

I do not have any first hand experience with it, but others have reported on here that hunting at banks in/near retirement communities is more productive than average.

 

[Dozer D]

I do not have any first hand experience with it, but others have reported on here that hunting at banks in/near retirement communities is more productive than average.

Correct. As senior citizens exhaust their IRA's, they may be forced into selling or dumping the family coin collection as a last resort. Chances are there for a BIG SILVER DUMP, just never know when it might happen.

 

[cyberdan]

I used to hunt in a rather well to do area in Orange county, CA. Lots of Korean banks. Always did pretty well on halves. I could not figure out why they always had a lot untill I asked a Korean friend of mine at work. He said Koreans like to own mom & pop type of businesses. They especially like liquor stores in the ghettos. Lots of customers for booze and cigs (and extra high markup). My friend even had a liquor store and laundromat in downtown area Los Angeles, even though he lived 25 miles away. He got out of the business because of robberies and vandalism. He said many times they would pay in coins. He knew nothing about silver coins at the time.

What do you want to bet those same coins were in someone else's dresser the night before?

 

[mxh5891]

Stop spreading this rumor around. The less people that know about coinstar reject hunting, the better.

 

[Treasure_Hunter]

Stop spreading this rumor around. The less people that know about coinstar reject hunting, the better.

We are a treasure hunting forum, please do not discourage members from posting or asking questions. It is no secret that they reject silver and I am not even a coin roll hunter.

 

[Ben Cartwright SASS]

Stop spreading this rumor around. The less people that know about coinstar reject hunting, the better.

It is not a rumor, I have never found any in a coinstar but did in a bank coin counter a Silver Washington.

Not reporting on finds on a treasure forum is silly since there are tons of youtube videos and facebook pages out there all about coin roll and bank box hunting. Most people would start there. I have been slammed for posting pictures of finds.

In CRHing, many start but few continue... Even I have given up for a time when I get 20 or 30 skunks in a row. Most people that start get discouraged and drop the hobby, they think it is get rich quick, it is the thrill of the chase not the money you might make which really isn't there for most of us once you take out time and expenses

 

[littlehugger]

Your best bet is probably older, declining residential neighborhoods. Most who spend silver or turn in old rolls are probably older folks, who don't realize how much more valuable silver is now, or don't even know its silver.
As for less affluent neighborhoods, they have no hoards of silver to spend. It also is a thing with them to disdain mere coins, even to the point of throwing them on the ground. Its the same old zinc and clad, not silver. But I have noticed a large increase lately, especially cents.
But, don't forget theft. Thieves often don't know what they have and spend it like pocket change.

 

[Ben Cartwright SASS]

I like the idea of older neighborhoods/areas and retirement communities, they are the ones more likely to have silver and when they die often the kids don't know what they have and dump it

 

[yankeesfan4life]

Stop spreading this rumor around. The less people that know about coinstar reject hunting, the better.

First of all, how is it a rumor?
Second of all, if you don't want other people to know about these things, then why are you on this forum?

 

[Dozer D]

I think that for as many NEW hunters that join in, there is probably as many that get discouraged and drop off the forum,and most likely sell what they found.

 

[Ben Cartwright SASS]

mxh5891
are we only supposed to talk about/post our skunks to try to discourage people from CRHing? Today I was at 4 banks, 3 of the banks the tellers all told me about silver being worth money and asked as I was dumping my halves had I checked for silver including 40%? People know about it, facebook, youtube, etc.

 

[fistfulladirt]

The current price of silver is almost the same as it was 10 years ago.

It's not a get rich quick scheme, probably a 'break-even' activity.
There must be another incentive that draws people into roll hunting, and like others have mentioned, it's got to be the thrill of the hunt.

 

[PullTabPete]

The current price of silver is almost the same as it was 10 years ago.

It's not a get rich quick scheme, probably a 'break-even' activity.
There must be another incentive that draws people into roll hunting, and like others have mentioned, it's got to be the thrill of the hunt.

Yes my treasure hunting is really a fun hobby not a way to make money. If I spend $5 in gas and several hours detecting but find one silver dime (worth about $1 melt) I consider the hunt a success.

Fistfull love your Zeppelin tagline think I'll listen to some today and maybe my neighbors will too

HH,

Pete