Still worth it? may come back after 2 year layoff

[Ben Cartwright SASS]

The last time I got any boxes or asked for rolls was about 2 years ago, the beginning of 2015. I am starting to get the itch again but don't know whether to scratch it.

I had figured out my time vs the 8 dimes 2 quarters and 5 40% halves I got in 2014 and figured with the gas to the bank and the coin machine etc not even counting my time, I was better off buying junk silver to scratch the itch.
A dime currently is $1.50 and it costs me that in a trip to the bank and then another $1.50 to the dump bank. So if I would do that 2 or 3 times a week, I can get 6 dimes or couple quarters or a Walker or Franklin with the savings. I now have about 1,200 halves about the same in quarters and double that in dimes, of course that is over the course of 20 years of "collecting" junk silver.

But there is the thrill of the chase, but I wonder if it is worth it?

I know I can get dime boxes and quarters, dimes are often in plastic so easy to search, but halves, most banks won't even order them for you.

DO people find dimes more productive that quarters or what are the ratio's people are finding? I am in the New England area. Does it make sense to go on the hunt or not?

My thought for this year had been, every time I get change, put it in a jar and then every few weeks do to the coin shop and trade if for junk silver. I would estimate that would be about $5 a week.

 

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[Spizzerinctum]

When you think about making this HOBBY pay off in dollars and cents it is rarely going to work out in your favor. It does not involve a good business model. I prefer to think about the entertainment value I get out of it. But, if the price of silver starts going up, that can change things.

 

[Ben Cartwright SASS]

I guess that is what it is, the thrill of the chase

 

[TwoYewts]

I agree with Spizzer. The hobby more or less for me is to spend the time that I would otherwise use to go out Metal Detecting. Either way (mding or crhing) will never make me rich. I use the hobby for its entertainment purposes, sharing a cool or old find with family and friends and spending the time socializing whether its with the ladies behind the bank counter or my fellow detecting buds. Nothing beats a nice walk along the beach as the sun rises and I get that distinctive ding in the headphones or now sitting by the fireplace with whatever sports game is on searching through some rolls of coin.

Happy Hunting!
TwoYewts

 

[BuffaloBoy]

I don't see why it wouldn't still be worth it-- if you're passing by a bank to do something else, stop in and ask for some coin. Of course that would cause you go out and dump the coins elsewhere though. Go for it!

 

[Walla183]

At the end of the day, anytime you can get silver for face value, it's a good day. Think about it, it's an investment that can never lose more than you paid. Talk about an awesomely hedged instrument. The bank is basically providing free put optionality on your purchase...

A fisherman always spots another fisherman from afar.

 

[FormerTeller]

To answer your question, dimes are INCREDIBLY more productive than quarters, for silver at least. Quarter errors are far easier to find. I find a higher ratio of silver from half boxes than with dimes or quarters - higher than dimes and quarters combined, actually. That being said, my average is two 40% silvers per box of halves.

 

[smokeythecat]

It's the chase. Fortunately, I work 2 blocks from 3 banks, including the dump bank so don't make extra trips. Sometimes when I'm out of town I'll stop at a bank, but not often.

 

[Zomotion]

Lots of good answers and suggestions on this thread... Maybe just try cwr instead of boxes. You'll always score more this way if you do low volume, at least this is the case in my area.

 

[Dannycoco]

It's always going to be a gamble. I went thru 5 boxes of halves today and got 6 -40% and 12 proofs. Not a whole lot for that many coins but I also picked up $90 in halves from another bank and got 53- 40%.
You just never know.

 

[Yinzi50]

I cut down last year and only did 4 boxes a week. My pick bank is next to my house do it doesn't consume my time much or gas when I pick up. But I can only dump on Saturday so I have to spend time and gas. I haven't started any box yet because i feel the fun I get is not enough to justify the labor, time, and gas.

 

[Ben Cartwright SASS]

70 half CWR's and 82 Quarter CWR's and not a hint of silver. The local bank only takes $200 a day in the coin machine after that there is a 10% surcharge, Did find another bank with a counter and will try it Tuesday, still it will take several trips to get rid of the coins.

 

[Ben Cartwright SASS]

Returned all my coins to my two dump banks, they have coin machines. One only allows $200 a day total the other is unlimited but gives you a look if you bring in too much, which seems to be around $400+

two 3 trips to get them all cashed in, $1000 worth and no silver...