Ultimate Coin Roll Hunting

Kantuckkeean · Oct 10, 2010

Howdy Y'all,

I've got a question. Have any of you rich folks tried the Ultimate Coin Roll Hunt? Perhaps I should say the Ultimate Coin Bag Hunt. Monex sells bags of 90% whatevers. I don't have the loot to make such a purchase, so I was wondering if anyone had bought one to search for key dates and coins in excellent condition. I'm sure you'd find some silver too.

Kindest regards,
Kantuck

Diver_Down · Oct 10, 2010

You won't find any key dates. These have been culled by the dealers long before Monex gets them. You might find some nice condition coins, but any coin that will carry a premium over melt either by itself or in rolls will also be culled by dealers before Monex gets them. To find what the cherry picking dealers get, you have to beat them to the punch. That means heading off the supply of silver. Listing on Craigslist and the like paying more than the dealer will get you the goods.

FingerGrime · Oct 10, 2010

I have often thought about it. I would have to have a lot more money though.
It is probably pretty unlikely that you would find something, but it would still be great fun to look through them.
If you buy the bags when silver is low and then wait until it is high to sell, you could still come out ahead.

Ltrain · Oct 10, 2010

I know of a fellow who searches 90% silver bags for key dates and better condition coins. He's made quite a bit of money with some of the key dates he's found, and made a lot of money off the recent rise in silver.

SFBayArea · Oct 11, 2010

Ltrain said:
I know of a fellow who searches 90% silver bags for key dates and better condition coins. He's made quite a bit of money with some of the key dates he's found, and made a lot of money off the recent rise in silver.

That guy must go through many 90% bags because key dates are hard to find because they are limited in mintage. I can imagine someone finding semi-keys but not actual key dates. What would be considered a key date? 1909-S VDB cent? 1916-D Merc? It would take numerous bags to get one. He must have access to numerous bags. Does he work at one of those companies that buy mass quantities of Ag? I live the SF Bay Area & have seen a lot of 1969-S's but not the doubled die when I penny search. I would really like to find that one.

Ltrain · Oct 11, 2010

SFBayArea said:
That guy must go through many 90% bags because key dates are hard to find because they are limited in mintage. I can imagine someone finding semi-keys but not actual key dates. What would be considered a key date? 1909-S VDB cent? 1916-D Merc? It would take numerous bags to get one. He must have access to numerous bags. Does he work at one of those companies that buy mass quantities of Ag? I live the SF Bay Area & have seen a lot of 1969-S's but not the doubled die when I penny search. I would really like to find that one.

From what I've heard via a local dealer, he goes through about $1k face every week.