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A Few Questions On How To Start Coin Roll Hunting

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New Member
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 Posted 10/21/2020  12:51 pm Show Profile   Bookmark this topic Add BostonCornhusker to your friends list Get a Link to this Message
Hey everyone,

So, I'm just going to lay this bare. I'm new to the hobby, and new to a forum environment in general (so, I apologize for any missteps). I just had a few questions on how to start coin roll hunting. I've done some reading and watched some videos, but I was hoping for a little more direct help and answers to a few questions.

1) I understand I should never return bulk coins to the bank I ordered from. It's not only inconvenient for the bank, but costs them money in shipping. I may also find I'm researching previous rolls. However, is it possible to order from one branch, and return to another branch 30min away? (I have a work commute that would lend itself to this.)

2) In these times of coin shortages, how do you convince a bank to order a box of halves for you? I've asked multiple banks, and it seems that I'm just spinning my wheels.

3) How do you cultivate the type of relationship with the bank to where they're more willing to assist you with your hobby? (i.e. ordering boxes in times of shortages, ordering more than 1 box at a time)

4) What are the typical surcharges for ordering boxes, if any? I've read that some banks order free-of-charge for bank patrons, but others may charge a fee for the service.

5) To re-roll or not. One bank has a coin counter, but I'm not sure I trust the accuracy. However, the alternative of re-rolling 50+ rolls of halves seems inefficient. Thoughts?

6) How many ordering banks and dump banks seem appropriate? Right now, I'm only looking at hunting $500 at a time, but would like to maybe do 1-2 boxes a week.

I apologize for the length, and I'll hang up the post there. I have about another dozen main questions and countless smaller ones, but this hobby really peaks my interest, and appreciate any clarification, tips, and help you all could give.

Thank you and happy hunting,
-BC
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 Posted 10/21/2020  1:17 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
to the Community!

Your reply was split into its own topic for the proper attention.
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United States
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 Posted 10/21/2020  2:00 pm  Show Profile   Bookmark this reply Add BostonCornhusker to your friends list Get a Link to this Reply
Thank you!
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United States
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 Posted 10/21/2020  8:58 pm  Show Profile   Bookmark this reply Add tnt to your friends list Get a Link to this Reply
Let me see if I can answer your questions based on my experience coin roll hunting for about the last three years.

1) Yes. You should work with separate banks. One for ordering coins and the other for depositing (dumping) the coins you searched. Basically for the reasons you mentioned.

2) I search nickels -- usually a box (or two) each week. I have a standing order with my bank such that they order me a box each week. During the recent coin shortage, there was a period of about 4-5 weeks where they were unable to obtain a box for me. More recently, they have been able to get me a box each week. You mentioned you wanted half dollars. I suspect that the recent coin shortage hasn't affected half dollars since they don't readily circulate. I might be wrong though.

3) I order my coins at the bank where I have my primary savings and checking accounts. Banks are more willing to work with you if you are a regular customer of theirs. Also, my bank has several branches in the area so there have been some times when I've ordered coins from multiple branches.

4) My bank doesn't charge me for ordering coins. Again -- it helps to have an account there.

5) For depositing coins, I found a local bank that has a high-speed coin counting machine. I opened up a small savings account at that bank where I deposit what was "dumped" in the coin counter. Without an account, the bank will charge a fee (percentage) for using the coin counter. I find the coin counter to be fairly accurate.

6) I have one bank that I order from and one bank that I dump at. Each has several branches in the area.


You didn't say what your goal is in coin roll hunting? Are you searching for silver coins or working on building a collection or searching for varieties. Searching for silver is getting harder and harder each year. However, there is a lot of fun in trying to build a collection from coin roll hunting. I'm a coin collector and I'm currently trying to build 3 complete sets of Jefferson nickels from hunting.

I hope this helps. And happy hunting.
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 Posted 10/22/2020  11:04 am  Show Profile   Bookmark this reply Add BostonCornhusker to your friends list Get a Link to this Reply
Thanks for the help tnt. Right now, I like the thought of finding silver while hunting, as well as finding rare varieties of coins. I know I'll likely expand into sets once I have more space for the hobby, though. I'm also planning on speaking with my father (who is also a collector) to see if there's anything in particular he's looking for. We're in separate parts of the country, so it may give him a slight benefit in finding needed coins.

And, for what it's worth, my bank just agreed to order a box of halves Friday, so I'm excited to pick them up next week. I've seen a couple people keep a running total of their finds in their signatures, and it seems like a fun way to compare, so maybe I'll be adding my own!
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 Posted 10/22/2020  11:08 am  Show Profile   Bookmark this reply Add tnt to your friends list Get a Link to this Reply
BostonCornhusker - Good luck and happy hunting. Let us know if you find anything in your upcoming box of halves. I've never searched a box of halves so I'd be interested to see if you find anything.
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 Posted 10/22/2020  12:05 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
When you search the halves, look for the NIFC (Not intended for circulation) ones, and save them, in case you want to start a collection.
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 Posted 10/22/2020  2:12 pm  Show Profile   Bookmark this reply Add BostonCornhusker to your friends list Get a Link to this Reply
I will definitely post here what I find. Right now, I'm looking at collecting anything pre-1971, proofs, and NIFCs. But, I'm also reading up (right now, actually) on different errors, and am interested in collecting those, as well.

Hopefully, I strike a little beginners luck, and can post a picture of some great finds!
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 Posted 10/23/2020  2:45 pm  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
1) I understand I should never return bulk coins to the bank I ordered from. It's not only inconvenient for the bank, but costs them money in shipping. I may also find I'm researching previous rolls. However, is it possible to order from one branch, and return to another branch 30min away? (I have a work commute that would lend itself to this.)
You can, however, if you upset a different branch for any reason (they hate half dollars) they will tag your account and you will get blacklisted and they will stop ordering for you, the idea is to get your coin and not get noticed.

2) In these times of coin shortages, how do you convince a bank to order a box of halves for you? I've asked multiple banks, and it seems that I'm just spinning my wheels.this is difficult and really where a long standing good relationship comes in. Try becoming a regular and being friendly with the staff and eventually the manager, vault manager

3) How do you cultivate the type of relationship with the bank to where they're more willing to assist you with your hobby? (i.e. ordering boxes in times of shortages, ordering more than 1 box at a time)This is building a friendly relationship and never being a pain. it's really that simple, if they don't get their delivery, the answer is "no problem". if one of them is having a bad day and you take offense to their wording that day, don't cause a stink over it, smile and roll with it.

4) What are the typical surcharges for ordering boxes, if any? I've read that some banks order free-of-charge for bank patrons, but others may charge a fee for the service. I have no surcharges, they exist though, and it's usually applied to people they don't like or have pegged as a problem for them, they use it to discourage you from continuing.

5) To re-roll or not. One bank has a coin counter, but I'm not sure I trust the accuracy. However, the alternative of re-rolling 50+ rolls of halves seems inefficient. Thoughts? re-rolling is inefficient, if you have a machine and you aren't sure if it's accurate, count your first few dumps and find out. Whatever hit you might take on their miscounting machine, I'm willing to bet it's still cheaper than coinstar fees.

6) How many ordering banks and dump banks seem appropriate? Right now, I'm only looking at hunting $500 at a time, but would like to maybe do 1-2 boxes a week.
look, no idea what you are doing. if you are doing one or two boxes a week of normally circulating coins you can do 1 pickup and 1 dump bank especially if they have a coin sorting machine. HOWEVER if you are doing half dollars that don't circulate, no matter what you do you will get pegged as a problem at any dump bank. I minimally search half dollars and dollar coins and take the hit on the coinstar or take an Amazon gift card which is zero fee to do. if you are rolling two boxes of coins and depositing every week, the bank is likely going to peg you as a problem also

------>This is where building a relationship with the banks comes in, and having a plan. I know a guy that got 10 banks to order him a total of 36 boxes of half dollars on the same week, he took them home started searching and around the 5th box dumped, they just flat out refused to take them anymore or order more half dollars for him.

As far as I'm aware he still trying to get rid of them for zero fees and this happened a year ago, the dudes paying for everything in half dollars.

Banks hate half dollars and I assure you they smell a roll hunter a mile away the moment they speak the words "half dollar". It's best to start with cents or nickels or dimes or quarters, even in a mixed $10 of each order, get to know them and then once you know whos in charge of ordering or vault or manager, then explain what you do (hunt coins) and ask about half dollars that will never return to their bank or any local branch of their bank.

And have a dump bank in place also, because whoever it is, they aren't going to want to take $500-$1000 in half dollars a week, every week either.
Edited by Big-Kingdom
10/23/2020 2:48 pm
New Member
United States
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 Posted 10/23/2020  4:05 pm  Show Profile   Bookmark this reply Add BostonCornhusker to your friends list Get a Link to this Reply
So, I guess I had planned on having a dump bank and just rotating between different branches each week. Would this still keep me in the clear?

And, I only have one bank who has said they'd order halves for me, but I've only asked 2 branches of this bank so far, and I work in a different town each day, so I don't think it's be hard finding a few branches of my 2 other banks to order (at least that's the hope). Does that sound appropriate?
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 Posted 10/23/2020  7:42 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Your first mistake is dealing with banks...shudder.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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 Posted 10/23/2020  8:23 pm  Show Profile   Bookmark this reply Add BostonCornhusker to your friends list Get a Link to this Reply
Alternatives?
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New Member
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 Posted 10/24/2020  3:15 pm  Show Profile   Bookmark this reply Add BostonCornhusker to your friends list Get a Link to this Reply
What are the benefits of using credit unions instead?
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 Posted 10/24/2020  4:22 pm  Show Profile   Bookmark this reply Add fplagge to your friends list Get a Link to this Reply
I personally work only with my primary bank to get/exchange boxes of quarters. I get one box at a time, carefully open one end of each roll, (one roll at a time) push them out from the opposite end, go through the roll - removing and replacing any quarter I intend to keep.
Then I carefully count them and stack them into 4 stacks of ten quarters each, matching up the stacks together to be certain of my count. I reuse the empty wrap and return it to the box they came in.

When through with the entire box I return it to the bank and exchange it for a new box. The girls at the bank quickly realized that I never make an error, so they just leave them "as is" for other customers to have.

Of course, it pays to have several fairly large accounts with the bank and to be friendly with the clerks. Every so often I bring the clerks a box of doughnuts or some cinnamon buns.

I usually go through two or three boxes a week.

As for Credit Unions, I quit dealing quarters with them, as mine obviously does not screen their quarter rolls for accuracy. Many were coming up a quarter short, or having a nickel in place of a quarter, or having foreign coins mixed in, etc. One roll from them was three quarters short!

My bank has never given me a short roll and only once did one contain a Canada quarter.
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 Posted 10/24/2020  4:59 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
What are the benefits of using credit unions instead?
Normally no fees for anything, including the counting machine. Plus, as a member you are part owner. I've been with a dozen different banks over the years and they all had multiple insane fees.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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