Whats a "Box" dumb question?

[Twisted One]

Whats a "Box" dumb question?

Okay, never really thought of coin roll hunting, until I recently became a Charter Member and keep seeing post here from the "Live post" section.

So what is a box? And what do you actually do with it? I imagine you buying a box of rolled coins, going home tearing them apart, replacing the "collectibles" with standard coins, rerolling them and taking them back to the bank...

Am I way off?

 

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[The_EE]

Re: Whats a "Box" dumb question?

Okay, never really thought of coin roll hunting, until I recently became a Charter Member and keep seeing post here from the "Live post" section.

So what is a box? And what do you actually do with it? I imagine you buying a box of rolled coins, going home tearing them apart, replacing the "collectibles" with standard coins, rerolling them and taking them back to the bank...

Am I way off?

You are spot on.

Some bag the coin and take it back. I can do that at all my local banks so I have 3 cloth bags, each can carry $750 in dimes at least, one can fit closer to $1000 in dimes.

Hint, dont do more than $100 worth of nickels per bag and $500 of dimes per bag. Tellers dont care for that.

 

[Generic_Lad]

Re: Whats a "Box" dumb question?

A box is what banks get their coin in (generally) usually the values/denomination are:

$25 - pennies
$100 - nickels
$250 - dimes
$500- quarters
$500 - half-dollars
$1,000 (usually comes in bags not boxes) large (silver dollar sized) dollars.

The strategy most of us use, is to get a box of coins, lets say, dimes. We buy from one bank, take it home, unwrap the coins and then, at least for dimes and quarters (and somewhat half dollars) you can pick out the silver coins easily because they don't have a copper stripe though it. Then we take the coins back to another bank and get cash for it to repeat.

Generally, the most productive boxes are like this:

1. Half-Dollars (Easily the most productive in terms of value)
2. Pennies (easily the most productive in terms of quantity)
3. Dimes
4. Large dollars
5. Nickels
6. Quarters (easily the least productive in terms of value and quantity)

The dates to look for are:

Half-dollars: 1970 and before (1965-1970 are 40% silver, 1964 and before are 90% silver)
Dimes/Quarters: 1964 and before (90% silver)
Pennies: 1958 and before (wheats/indian heads)
Nickels: pre-1940 and 1942-1945 (42-45 are war nickels and 35% silver)
Large dollars: pre-1971 (Morgans/Peace dollars), and any Eisenhower with an "S" mintmark (some are 40% silver, but all are not intended for circulation). Some people have luck selling Eisenhower dollars for a profit over face value, I personally don't and I just dump them at a bank or spend them.

 

[Twisted One]

Re: Whats a "Box" dumb question?

Wow, thanks for the ton of information.

At this point I am not sure this is something I want to play with. It looks like a "no lose" situation though. And honestly what better way to spend the evening watching reruns and checking coins.

Maybe when I a few hundred bucks to drop on something again I will give it a shot.

 

[Stang1968]

Re: Whats a "Box" dumb question?

It looks like a "no lose" situation though.

Only if you don't factor in gas, time, and shortages into the equation.

I disagree slightly with order of recommended boxes- I would place nickels higher than large dollars as you can eek out a few war nick and occasionally a buffalo or two. I've even netted a V-nick, and once in a blue moon someone has found shield nickels.

 

[madwest]

Re: Whats a "Box" dumb question?

Maybe when I a few hundred bucks to drop on something again I will give it a shot.

Part of the beauty of the hobby is that you can get coin Friday afternoon, search Friday evening, and deposit Saturday morning. You've only tied up your funds for a few hours.

 

[Twisted One]

Re: Whats a "Box" dumb question?

That is true, and I guess I could always start at the cheap end with the $25 box of pennies just to try it out.

As far as counting gas and such as a lose, some of that would be, but I have to go to the bank twice a week as it is, so wouldn't be all that much.