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Buying Coins From Local Bank

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Author Previous TopicReplies: 8 / Views: 2,288Next Topic  
Valued Member
Tenhulz's Avatar
United States
134 Posts
 Posted 12/05/2014  8:59 pm Show Profile   Bookmark this topic Add Tenhulz to your friends list Get a Link to this Message Number of Subscribers
Hi Everyone, new to this but here goes, I go to local banks here and pickup boxes of coins. I'm sure a lot of you do as well. The company that rolls the coins for the local banks in Knoxville is usually LOOMIS. Do any of you have any opinions about these companies having a way to filter the wheats out ? I've noticed the last bunch of boxes had only a few wheaties. I'm sure that day is coming if it isn't already here. Thanks, just a question ....Jean T
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The Silver Searcher's Avatar
United States
1388 Posts
 Posted 12/05/2014  9:06 pm  Show Profile   Bookmark this reply Add The Silver Searcher to your friends list Get a Link to this Reply
to the forum!

Below is a whole subforum for discussing role hunting. Perhaps a mod can move this there?

http://www.coincommunity.com/forum/...FORUM_ID=147

Edited by The Silver Searcher
12/05/2014 9:08 pm
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Rackster's Avatar
United States
4809 Posts
 Posted 12/05/2014  9:30 pm  Show Profile   Bookmark this reply Add Rackster to your friends list Get a Link to this Reply
Hello Jean

Not sure how long you have been at the CRH thing, but the numbers of LWCs varies quite a bit. I think though that it has been trending downwards over the past year. Average yield from a box is around 10-12 these days. Keep in mind that LMCs were minted in very large numbers relative to the LWCs so there is a scarcity of them as a result (just a flood of LMCs and more recently, LSC). Then there are copper hoarders out there taking copper without regard to them being LWCs. Obsolescence of the LWCs is inevitable and we are bearing witness to it as we search rolls for older prizes. Some of us here have trended towards error/variety hunting to expand the hobby. And honestly, the more valuable finds amongst the common coin are these coins. It slows down the CRH event, but if you aren't doing this now, you may want to look into it. Good luck on the hunt!
Valued Member
United States
58 Posts
 Posted 12/05/2014  10:39 pm  Show Profile   Bookmark this reply Add Rarecollectibles to your friends list Get a Link to this Reply
I just pulled 4 wheats from 8 rolls. All were bank rolled. I think they are still out there as people empty long term change jars for cash.
Keep looking. I think you will be surprised.
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fistfulladirt's Avatar
United States
4333 Posts
 Posted 12/06/2014  04:52 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
I see absolutely no benefit for Loomis or other couriers to sort wheats or copper cents. Same goes for silver.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Valued Member
Tenhulz's Avatar
United States
134 Posts
 Posted 12/06/2014  06:51 am  Show Profile   Bookmark this reply Add Tenhulz to your friends list Get a Link to this Reply
Great answers, love this source!! Thanks to all!!
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StashTreasure's Avatar
United States
234 Posts
 Posted 12/06/2014  09:35 am  Show Profile   Bookmark this reply Add StashTreasure to your friends list Get a Link to this Reply
My bank uses Loomis and some boxes from them have had 20+ wheats in them, but others 4 or 5. Just depends on your luck that day I guess.
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atticguy's Avatar
United States
1373 Posts
 Posted 12/06/2014  10:02 am  Show Profile   Bookmark this reply Add atticguy to your friends list Get a Link to this Reply
When I was CRH, I also had Loomis as a supplier.

I initially had no problems with searching anything but the half-dollars (cents, nickels, dimes, and quarters were bought at face value; the halves cost an extra $10-$20 a box over face). Most of my boxes were for Lincolns and I found somewhere around 5-15 wheat's per box.

Lately all the coins have been arriving in the clear vinyl wraps which can't be reused to wrap unwanted coins. I had to start buying paper wrappers at the store, and I no longer CRH (for now). The one nice thing about the clear wraps is that you can check for silver dimes and quarters without opening the rolls.
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perotti31's Avatar
United States
179 Posts
 Posted 12/08/2014  12:29 am  Show Profile   Bookmark this reply Add perotti31 to your friends list Get a Link to this Reply
I love the clear wraps when I'm at work, no time to search rolls, but I can scan for silver quick like atticguy said!
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