| Author |
 Replies: 15 / Views: 3,362 |
|
|
Pillar of the Community
United States
5207 Posts |
Now that I have everyones attention with the most beat to death topic in coin roll hunting history how is this for a new theory:
Is the Fed recalling halves and pulling silver?
We all know the Fed has been pulling silver since 1965 when clad coinage came out but maybe they have stepped their game up lately (maybe to meet the demand of increased Silver Eagle bullion coins). Why do I think this? Well look at the JFK thread the last few months.
1. Just about everyones silver scores from boxes has gone down, way down including my own lately.
2. Reports of an increase in many rolls worth and even almost full boxes of uncirculated halves from the late l980's and 1990's. I personally have seen many many uncirculated 1989 and some 1990's along with a box that had 15 rolls worth of 2004, 2005, and 2006 NIFC. So if the Fed is calling back halves from the distributors (Loomis here) and replacing what they find with bags they have of UNC 1980's / 1990's coins and even unsold NIFC bags from their vaults to level it out.
3. All of the usual marked coins around me have disappeared and been replaced with a 50 boxes in a row with no marked coins or new marks since Christmas. If the Fed is recalling coins, sorting them, and then redistributing them the pool of coins they pulled from zone A may now get sent out through their channels to zone B and vice versa. Now some may argue that the new mark are from new people CRH but what happened to all of the coins that had already been marked by the old hunters and why are there not an increase in those same old marks unless those CRH who were doing it have given up?
Anyone else want to get in on this conspiracy with me?
|
|
|
|
Pillar of the Community
United States
672 Posts |
Its all about saturation... your point on the thread is proof. There are people on here that routinely search 25+ boxes a week. Not to mention the thread is like 4 years old or something, so imagine how many $'s have been gone through by CCF alone in the last 3-5 yrs. That is JUST CCF, which represents in my opinion a very small percentage of searchers, not to mention the people on here that search and only post the finds, never mind the 100's or 1000's they went through to find it. The last silver coins were minted 40+ years ago and people have been pulling them out ever since.
I believe finds are drying up because you have had 2 $50 silver peaks since 1969 and both of those times saw a major increase in roll hunting. Brinks does not pull silver though I can testify to that on my finds, as can others.
|
|
Pillar of the Community
 United States
5207 Posts |
I know Brinks and Loomis which is used here in my area are MOST LIKELY not pulling silver as it would be too much for them to try to pull of on a national level even though I have had tellers tell me that the Loomis drivers tell them that they are pulling silver. I know this is not true as I have found some silver since being told that.
However, the FED does have the resources to do this on a national level and the silver I have found may just be my luck that I got it before the lot of coins it came from got to me before the FED recalled that lot.
|
|
Bedrock of the Community
Australia
21786 Posts |
Why shouldn't they?
Surely, the technology would exist to perform the task cheaply, on the scale that they would require.
Same would apply to the FED.
I surmise this. Has anybody asked the FED? Tha Canadian Government has done this with nickel nickels. Silver has a much better return for them.
|
|
Pillar of the Community
United States
593 Posts |
I at one point wondered if someone was pulling silver including brinks. I did 2 Brinks half dollar boxes yesterday and found 5 40%s in the first and 1 90% and 1 40% in the second. I think we coinroll hunters and silver hunter tellers are the ones draining the finds
|
|
Pillar of the Community
United States
1200 Posts |
Fifty boxes without one marked coin is a fantasy that defies my imagination. One box of halves without a marked coin in every other roll would even be a stretch.
|
|
Pillar of the Community
United States
622 Posts |
Like AmericanMafia said, This hobby is so much bigger than people realize. The truly big time hunters probably don't post here. They probably aren't walking up to windows. Imagine if you owned a bank or were a relative or friend of a bank owner. They could get all the coin they want, any way they want it. There are probably people doing this on a scale that isn't fathomable to most of us.
The Federal government runs a monopoly on snail mail. The USPS is bankrupt. If they can't keep a monopolized market above water, I doubt they are working hard to find money saving opportunities with currency or coin. The Fed isn't pulling silver. The couriers (as a company) aren't pulling silver. Silver gets pulled, and it probably starts with courier employees, despite what others think about rules and regulations. If it makes it past courier employees, bank owners and management have an opportunity. If it makes it past them, the teller and common employee has an opportunity. Some bank security guards go through the coin (I know this to be true with relative certainty). Then we have our chance.
People becoming educated and a continuation of rising silver prices will cause less silver to be available with time. It's an unfortunate fact. Less people will dump silver and more people will pull it.
OO
|
|
Valued Member
United States
318 Posts |
It may be that Brinks makes more money from picking up, rolling and delivering re-rolled coins than they would make from any silver they might find. If it got out definitively that they were pulling silver, we coin roll hunters would simply stop, cutting down churn on the coin side of their operation.
|
|
Pillar of the Community
1751 Posts |
I plan to attempt to raise capital and industrialize my hunting operations to pull 100+ boxes a week. We'll see how that goes.
BTW, I doubt anybody is pulling silver besides searchers right now. This is a slow time of year for people dying (morbid as it sounds, much of the silver we find came from people who died) and people cleaning out their change jars (no holidays requiring major expenditure of funds) so it's a slow time of year for CRH'ing. 3 years of numbers bares it out for me...
|
|
Valued Member
United States
455 Posts |
Quote:
3 years of numbers bares it out for me... What's the best time of the year? |
|
Pillar of the Community
United States
5207 Posts |
I've had my bets luck June-August but some claim November-January for people cashing in to buy Christmas gifts but this winter season has been a bust for me.
|
|
Pillar of the Community
United States
811 Posts |
the loomis driver around where I live says they pull silver but I think he is pulling it.told me he found 26 silvers in a bag of halves the other day.dont see how they would be allowed to buy bags they pick up.guess perks of the job. later greg
|
|
Pillar of the Community
United States
4333 Posts |
Quote:
dont see how they would be allowed to buy bags they pick up I don't see how, as it's not Loomis's money to sell to begin with. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
United States
5207 Posts |
I know from the last time this came up someone posted a long drawn out and pretty good explanation of how it is not the curriers money, it would take to long or cost too much for the machine to pull silver, it could not pulled off on a national level, etc and I agree.
My question was based on the points I have personally witnessed was is the FED calling large amounts of halves back and pulling silver like they did in the 1960's and 1970's.
Edited by jack jeckel
03/24/2013 5:37 pm
|
|
Pillar of the Community
United States
4333 Posts |
Jack, could you explain why the FED would be pulling silver halves? Keep in mind that the Federal Reserve and the mint are two seperate entities one is government-owned, one is not.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
United States
4333 Posts |
Oops, sorry J, I missed that in your intro. I thought that the US Mint outsourced silver planchets, they don't manufacture any. So the mint wouldn't be pulling silver. I don't believe the Federal Reserve would bother with such a small pittance of silver available either, especially since they can create and retain billions of dollars out of thin air.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
| |
Replies: 15 / Views: 3,362 |
|
Posted 03/20/2013 11:08 pm
