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Valued Member
United States
279 Posts |
I got together with my father tonight, and he mentioned penny hoarding. The thought interested me a lot, as I have been looking for something enjoyable, and exciting to do with my time. After some searching on penny hoarding, I remember that older half dollars have silver in them. I did some searching on here, but I just come up with people's stories of getting boxes, and not the answers I'm looking for. I'm sure they have been answered before, but there are too many topics to sort through.
Also, I know I'm a day late, and a dollar short with the silver hunt, but I'm sure there is still some out there. I'm not looking to strike it rich. I just think it would be something fun to do.
I was looking at getting 2-3 boxes of half dollars from my bank. After that, I see that a lot of people have banks that have coin counters for free. Unfortunately, all of my local ones either don't have one, or charge 4%. 4% will add up quick, especially if I don't find any silver.
So here are my questions:
How do I turn them in without getting any fees?
What half dollars should I be looking for? Is there a list anywhere on here? I don't see any "stickies" here, like on most forums.
I read that going to multiple branches is your best option for getting different half dollars. Do the same branches not just send money around? Any advice on how to avoid going through the same box again and again?
Any other advice, too, would be great.
Thanks in advance!
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Valued Member
United States
214 Posts |
 Well to avoid fees for dumping I just wrap them up in coin wrappers and go into the bank. Id stick with large banks for that. I got my wrappers online, but you can get them at your bank as well. What to look for: 1970 and below had silver. 65-70 had 40% silver. Anything 64 and below had 90% silver. Also keep 1987, and 2002-present as these weren't intended to be circulated. Plus I personally keep any really nice coins I find. As for multiple branches idk. I dont have the experience that some of the other guys/girls have here. I do know that some people will mark coins to tell of they've had them already. Aso try dumping your coins as a different bank (ie chase if you got them at BoA) and not just a different branch. Hope that helps, and good luck! I was where you were a few months ago and I'm hooked! |
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Valued Member
 United States
279 Posts |
Thank you for your answers! A bank doesn't mind if I bring in $1,500 in half dollars? I could see them easily getting annoyed. Good suggestion with the different banks. I will definitely do that.
What to look for was my biggest question. I didn't want to miss out on potentially rare dates, or certain mints, etc. So thank you for answering that.
Have you had much luck? I'm excited for it, already!
How long does it take them to get the boxes in?
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Valued Member
United States
286 Posts |
I have a standing order from my bank, they order me in one box a week, I pick it up on the same day every week. I found a different bank last week that uses a different courier service than my original bank so I signed up for an account with them and they are going to order me in a box a week. I have a third bank account with another bank and that is where deposit all of my re-rolled half's. I have found that in an evening I can search and re-roll an entire box so I am never really out any money because if I pick up a box on Thursday I can have it deposited back into the bank on Friday.
Good luck to you, for me it is all about fun not the money
P.S. Also be on the lookout for "S" mint marks, these are proofs and also not intended for circulation, I have found several so far and I have only been doing this for a month.
BB
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Valued Member
United States
279 Posts |
That sounds perfect to me! I'm sure I will do exactly what you do, and get a standing order each week. I'm in it for the fun, and excitement too. I can't imagine the fun wearing off, until the silver is all dried up.
Thanks for the heads up about the "S" mint marks.
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Rest in Peace
United States
9104 Posts |
, NYBrian84! |
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Pillar of the Community
United States
7840 Posts |
My Credit Union does not accept "rolls", they would direct the customer to the "coin sorter" machine. No fees for CU members.
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Valued Member
United States
275 Posts |
truthfully there lots of skunk boxes when I usually search. Thats why I did dimes. But dimes are about 1in $150 or so , much better turn around to do cents which are supposedly worth double AND it plenty of them if you yield good percentages its the law of averages. In the long run it seems like it averages out more, at least for me
Edited by Coppertop
01/24/2012 11:25 am
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Replies: 7 / Views: 1,600 |
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Posted 01/24/2012 12:29 am
