Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
Specializing in Modern Numismatics Join Thousands of Coin, Bullion, & Money Collectors Coin, Banknote and Medal Collectors's Online Mall Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. Royal Estate Auctions - $1 Coin Auctions300,000 items to help build your collection! Vancouvers #1 Coin and Paper Money Dealer








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

Coin Roll Hunting - The Best Hobby Ever?

To participate in the forum you must log in or register.
First Page  Showing last 15 replies.
Author Previous TopicReplies: 28 / Views: 3,950Next Topic Page 2 of 2
Pillar of the Community
1751 Posts
 Posted 07/18/2013  1:02 pm  Show Profile   Bookmark this reply Add FadeToBlack to your friends list
Denver, what you are working for is the silver value, you should be filing your taxes based off that, not the face value. If you get audited, they will slap you down and straighten you out with some heavy fines and penalties. Also, your employer is breaking the law by paying you like that as it means you and him are not paying into SS, MediCare, SUI, and all the other federal programs.

You'd be smart to take some advice from others here... it doesn't matter if the tellers love you, I learned that the hard way. The tellers don't call the shots, upper management does, and upper management doesn't give two craps about a bunch of entry-level rank and file employees, their job is to protect the bottom line, and you are detrimental to that end. With that said, going to 14 banks a week is nothing, and only ordering at 4? There is no way anybody will clean out an area ordering at that rate. I was ordering 40+ boxes of halves a week (and halves don't circulate) and still finding silver. With a denom that actually sees circulation, you would have to move through probably 100+ boxes a week to make a real dent.
Edited by FadeToBlack
07/18/2013 1:03 pm
Moderator
Learn More...
United States
189340 Posts
 Posted 07/18/2013  2:55 pm  Show Profile   Bookmark this reply Add jbuck to your friends list

Quote:
Denver, what you are working for is the silver value, you should be filing your taxes based off that, not the face value. If you get audited, they will slap you down and straighten you out with some heavy fines and penalties. Also, your employer is breaking the law by paying you like that as it means you and him are not paying into SS, MediCare, SUI, and all the other federal programs.
True that...

http://www.reviewjournal.com/news/e...ng-hard-time
Pillar of the Community
United States
4333 Posts
 Posted 07/18/2013  3:00 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list
I've been roll hunting for 35 years, and I get burnt out at times. It is a great hobby, but metal detecting is best!

Crh'ing = silver at face
Metal detecting = silver for FREE!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Valued Member
United States
86 Posts
 Posted 07/18/2013  5:58 pm  Show Profile   Bookmark this reply Add DenverNRG to your friends list
It is legal to pay family any wage in the state of colorado to work in your family owned and operated business :)
Valued Member
United States
86 Posts
 Posted 07/18/2013  6:28 pm  Show Profile   Bookmark this reply Add DenverNRG to your friends list
This is all you need to know on coin 1933 and older and taxation:
http://www.nsbecoins.com/benefits-o...ivate-coins/

Read that and know that private coins are PRIVATE and TAX FREE 100% :)
Pillar of the Community
United States
3345 Posts
 Posted 07/18/2013  8:05 pm  Show Profile   Bookmark this reply Add rachums107 to your friends list
No in my opinion it's not the best hobby in the world. Fishing is. But I like coin roll hunting. It's fun.
Pillar of the Community
United States
1599 Posts
 Posted 07/19/2013  10:35 pm  Show Profile   Bookmark this reply Add jprine to your friends list
CRH is right up there with turkey hunting!
Pillar of the Community
United States
4897 Posts
 Posted 07/19/2013  10:54 pm  Show Profile   Bookmark this reply Add amida17 to your friends list

Quote:
This is all you need to know on coin 1933 and older and taxation:
http://www.nsbecoins.com/benefits-o...ivate-coins/

Read that and know that private coins are PRIVATE and TAX FREE 100%


Nope. Sorry but absolutely NOT true.

Capital Gains apply...
http://www.independentlivingbullion...t-rare-coins
Valued Member
United States
86 Posts
 Posted 07/19/2013  11:25 pm  Show Profile   Bookmark this reply Add DenverNRG to your friends list
Well whether I am right or wrong doesn't matter anymore.... I quit working there cause I was sick of watching that guy rip people off... Seriously selling a 1/10 ounce of gold today for 200 dollars... I was like dude you are WAY too greedy and I want no part of it.... But luckily I still have my CRH YAY :).... instead of bringing back 4 boxes of pennies I have decided to go for 8 boxes of nickels daily :)
Pillar of the Community
United States
2541 Posts
 Posted 07/20/2013  09:46 am  Show Profile   Bookmark this reply Add Gothic Florin to your friends list
CRH is the best hobby (in the winter). I've been spending my summer swimming and golfing, so my CRH has been on hiatus. This will hopefully mean I'm fired up and ready to go hard at it once the days grow shorter.
Valued Member
United States
477 Posts
 Posted 07/20/2013  10:38 am  Show Profile   Bookmark this reply Add shootnstarz to your friends list
"CRH is the best hobby (in the winter)".

Not here in Florida, summer is the time to stay inside.

Rick
Valued Member
United States
107 Posts
 Posted 07/20/2013  10:55 am  Show Profile   Bookmark this reply Add Kritler to your friends list
The law was meant to be broken, especially when it is Uncle Sam always wanting a cut. Tax Evasion is a crime, there is no doubting that. When it comes to commodities though, what appeals to me about them is they're a hedge against the currency our own government is devaluing. If you think I am going to let the government get a cut on commodity exchanges I do, you are wrong. People that hole physical commodities many times are just as skeptical as the government as I am, so I have never had issues trading/bartering/exchanging.
Pillar of the Community
United States
716 Posts
 Posted 07/20/2013  3:58 pm  Show Profile   Bookmark this reply Add Yinzi50 to your friends list
In big city yeah it's the best hobby. Many banks around every corner; many coin counting machines for dumping; banks open on Saturday and even Sunday. You can even arrange pick-ups or dumps on your way to work or after work. You can pick up coins on lunch break. If you mess up relationship with one branch you can go to next one. Also the turnover is very big in big city banks because college kids graduate and get a better pay job.

If you live in a small town or village with less than three banks then it's not that a great hobby. You can not dump too many coins; It will not be feasible to do large volume at all. It costs too much for the bank to get boxes of coins from the Fed due to the remote location so the bank will pass the fee to you after a few boxes. When you live in small town you practically know all the tellers and don't want to be "that guy".
Valued Member
United States
86 Posts
 Posted 07/20/2013  4:58 pm  Show Profile   Bookmark this reply Add DenverNRG to your friends list
THANK GOD I live in a big town.... where there are at least 200 banks within a 10 mile radius :)
Pillar of the Community
United States
1053 Posts
 Posted 07/22/2013  1:55 pm  Show Profile   Bookmark this reply Add CoinDan98 to your friends list
My town is full of banks, so no worries here!
Page 2 of 2   Previous TopicReplies: 28 / Views: 3,950Next Topic Page 2 of 2
First Page  Showing last 15 replies.
To participate in the forum you must log in or register.


    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.37 seconds to rattle this change. Forums