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Industrialized Coin Collecting

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Author Previous TopicReplies: 8 / Views: 1,692Next Topic  
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nepavending's Avatar
United States
45 Posts
 Posted 10/28/2013  1:58 pm Show Profile   Bookmark this topic Add nepavending to your friends list Get a Link to this Message Number of Subscribers
Hey guys,

Thought I would post on what I am setting up for my business and indirectly my coin collecting.

I am going to be one of the few members or only one perhaps on CCF (based on lack of data coming up on searches) taking a more industrial approach to collecting.

I will be using a Cummins 4000, two Ryedale Automaxx models, and a bill counter for counting, sorting, banding, and bagging all coins that come through my business, probably starting in early November. There are reasons for this.

1. Sheer volume! I will never get as much done as quickly and efficiently and make sure most or all coins of value are recovered. I also have to automate more of my processes to try to keep the bank happy.

2. Foreign coins. In order to make my deposits Fed-friendly I must eliminate all foreign coin from my bags. The Ryedales pick up the slack here as I also am getting the dime wheel/plate kits for both to do them as well.

3. Silver/Copper Hunt. I can also use the Ryedales for the obvious copper/wheat hunting as well and silver dimes. Quarters and other coin types will have to be done differently of course but those I can handle.

This will be an interesting project and I am excited about it. I know it will turn up a great volume of good finds and a matter of time before some great finds. Looking forward to the challenge.
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nalaberong's Avatar
Canada
2805 Posts
 Posted 10/28/2013  5:50 pm  Show Profile   Bookmark this reply Add nalaberong to your friends list Get a Link to this Reply
What will you do with the foreign coins?

I'd be interested in them
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Broseph's Avatar
United States
979 Posts
 Posted 10/28/2013  6:36 pm  Show Profile   Bookmark this reply Add Broseph to your friends list Get a Link to this Reply
Me too, I'll buy foreign coins.

And I wouldn't bother using ryedale with dimes. It's easy enough to side search silver. I just stick to copper in my ryedale :)
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 10/28/2013  6:57 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
I'm guessing you're not planning on handling anything, even accidentally, worth grading right?
New Member
nepavending's Avatar
United States
45 Posts
 Posted 10/28/2013  8:06 pm  Show Profile   Bookmark this reply Add nepavending to your friends list Get a Link to this Reply
*** Edited by Staff - Please Review the rules that you agreed to when you registered. ***
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jerseyben's Avatar
United States
1211 Posts
 Posted 10/29/2013  10:47 am  Show Profile   Bookmark this reply Add jerseyben to your friends list Get a Link to this Reply
I dont understand the need for the Cummins?
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nepavending's Avatar
United States
45 Posts
 Posted 10/29/2013  3:51 pm  Show Profile   Bookmark this reply Add nepavending to your friends list Get a Link to this Reply
jerseyben,

Believe me if I didn't have to do it I would not. My business has branched off from vending to another area where I handle large amounts of coin for a charity where I handle a ton of volume of coin, other than just quarters. This has caused problems with my main bank which made this move to the Cummins machine necessary. Instead of just cashing in at my bank, I have to prep deposits by the bag for the Fed and take them to another bank out of my way. To have any chance of doing this and meeting all deadlines and staying somewhat on schedule I need to automate my cash handling and save time taking constant trips in and out of the bank.

The byproduct of doing this is that I get to search through the coin more thoroughly than before looking for coins of value. I also will be able to sift out nearly all foreign coins from the bags.
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nalaberong's Avatar
Canada
2805 Posts
 Posted 10/30/2013  9:38 pm  Show Profile   Bookmark this reply Add nalaberong to your friends list Get a Link to this Reply
I would be happy to appraise your world coins for you (even if you get a huge pile!), although my hands are tied when it comes to actually buying any (the best I can do is mail trades...).

From what I've heard, you'll find lots of South Korean 100 won and Philippine 1 piso coins used as quarters.
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nepavending's Avatar
United States
45 Posts
 Posted 11/15/2013  5:43 pm  Show Profile   Bookmark this reply Add nepavending to your friends list Get a Link to this Reply
Thanks nalaberong for your offer of help regarding Canadian coins and appraisals. I have quite a bit of Canadian already and have no idea what is worth a premium there, I can barely keep up with US coinage. :) thanks again!
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