Coin Roll Hunting Just For Silver (?) And Other Observations

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Author	Replies: 8 / Views: 3,345
jwm74 Valued Member United States 68 Posts	Posted 03/12/2017 01:57 am I have been reading the coin roll hunting forum posts and it seems the main theme is searching for silver content coinage. Does anyone search for coins to fill their albums? I am a proof and uncirculated/mint collector, but I read many collectors like to fill their albums with circulated coins. Wouldn't CRH fulfill this objective? Would this type of activity also run afoul of the banks? Is it possible to request new, uncirculated rolled coins from the bank? Or are you always going to get old, re-rolled coins? It's fun to read about peoples luck with CRH and sad to hear about the obstacles the bank throws in their way to discourage CRHs from using their banks for their hobby. My father was a banker. Back in the 70s, his bank had a coin counter and I was extremely surprised the first time I brought a "bag" of coins to my new bank in a new city to deposit said funds and was told the bank did not have a coin counter. I had to count, roll the coins and put my name and account number on each roll. You can bet I minimized my coin deposits after that. I guess I have to wonder why, in this age of automation and computers, why a bank can't put a low or no cost "Coinstar" type machine in every lobby. They have an ATM outside of every (or at least almost every) branch. I know, they are in this to make a profit, but the bank's customers are already saving the banks a ton of money by using ATMs, debit cards, and cell phone deposit apps, reducing staff. A coin counting machine would be similar to an ATM. Quick, efficient, and not requiring a teller to count and record the transactions. Just some thoughts on a cold winter night! Report this Post to the Staff

mvl9591 Valued Member United States 110 Posts	Posted 03/12/2017 07:09 am You hit the nail on the head when you wrote," I know, they are in this to make a profit,.." The banks tolerate the coin roll hunters as the cost of doing business. I fill my coin books from pocket change except for collecting the Lincoln cents. For the cents I coin roll hunt. Silver is just too hard to find, so I've given up on dimes, quarters, and halves. A machine to accurately count the coins we turn in and to bag them, would cost money and subtract from the profit margin. Considering we haven't received a decent interest rate on deposits and considering all the fees banks charge, it is surprising banks still sell us the coin rolls. Report this Post to the Staff
fistfulladirt Pillar of the Community United States 4333 Posts	Posted 03/12/2017 2:29 pm Sadly, nice, efficient coin counters are expensive, and so is the maintainance, which is usually much more than just routine. When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72 Report this Post to the Staff
Rackster Pillar of the Community United States 4809 Posts	Posted 03/12/2017 3:09 pm Banks should be allowed to make money off the money you keep in the bank. I suppose that would be true of special processes that they perform on our behalf (how that's defined is the trick). Routine processes, like dumping a coffee can of change into a machine, shouldn't merit special fees in my opinion. To your point, I recall the bank manager promoting the use of ATMs back in the '80s; this was supposed to replace tellers (expensive) for those routine processes. Then somebody thought that folks would gladly pay for these services. So they became a money making activity and hired back the tellers. Sure enough there are fewer tellers these days, but I think that the banks aren't 'hurting' financially because of CRH (on my scale). My opinion though: CRH with the bank you do business with on a scale appropriate to the amount of money you keep there. Certainly favor their financial interest in that respect. At my bank, I appreciate their facilitating my hobby. I don't want to ruin it. Report this Post to the Staff
Crazyb0 Rest in Peace 10197 Posts	Posted 03/12/2017 3:48 pm Most banks I've dealt with in this area, long as you have an account with them, IF they have a self-serve counter, allow you to deposit your coins w/o any fee. They will charge non-customers a 4% of total fee. Now, that is until you consistently dump mega amounts of coinage which #1) fouls the machine making a teller have to take time out to clear machine #2) actually breaks the machine, tears up the flywheel separator requiring an off-site tech repair visit. At this point these banks will tell you kindly to #1) pay the 4% fee or #2) go elsewhere. My 2 separate bank accounts did just this. It's business, it costs HIGHLY to repair one of those machines. Now, CRHing to fill out the hole, INDEED! I always look to fill the empty or upgrade to a better example. I've learned to look for certain error coins (clipped, brockage ,offcenter), possible dates for RPM,DDO,DDR that get set aside for a closer look. Of course look for silver coinage or the older series (Indian Head cent, Wheaties, Barber/Merc/Rosie Dimes) all kinds of goodies to search for,that's the fun of it, the hunt! Quote: I guess I have to wonder why, in this age of automation and computers, why a bank can't put a low or no cost "Coinstar" type machine in every lobby. You know how much one of those machines costs? How about the minimum charges for repair, mileage(2 hrs min), labor rates and taxes? Multiply that by the 13 branch banks in my town of 130,000. Just how much are YOU willing to pay for your account every month? That's why only two of 30+ had a self serve. The mains have counters, luckily, been able to dump at my bank being considered as a business would deposit...have to, (OH MY) wait a few days for it to be applied to my account...big deal, no charge at the moment, as have heard it said, "donuts go a long way..." Report this Post to the Staff
John77 Pillar of the Community United States 2910 Posts	Posted 03/13/2017 08:58 am I search for coins out of circulation for many reasons... Believe it or not, I'm working on a Buffalo nickel set out of circulation and have found 36 of the 66 coins (not including overdates/3-Legged varities) to date! I'm working on a Jefferson set, missing only the 1950-D... and have found all but 4 of the 1934-date Lincolns. I do also like to search halves for silver, NIFCs, and proofs as they all do turn up fairly often. I'm not hunting dimes nor quarters much at the moment as it gets quite boring after a while, honestly! As far as new, Uncirculated coins, it's pretty random and depends on what the vendor (LOOMIS/Brinks/Garda) supplies your bank... Normally, if you hit enough banks, you'll run into at least a few that have new coins from the current year, or the previous one. Unfortunately, a lot of banks have eliminated coin counting machines because people often would throw in non-coin stuff which jammed and broke many machines. As the banks have eliminated the machines, Coinstar has raised their fees to take in coins. CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets! Edited by John77 03/13/2017 09:00 am Report this Post to the Staff
jbuck Moderator United States 188210 Posts	Posted 03/13/2017 11:33 am Quote: Does anyone search for coins to fill their albums? Yes, many of my album holes were filled from CRH back in the 1990's. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
SpaceMaNy0 Valued Member United States 343 Posts	Posted 03/14/2017 5:34 pm Every album I have is from circulation. I do get a roll or two of halves once in a while, not necessarily for silver, but I look through them and spend them. Report this Post to the Staff
coin197 Pillar of the Community United States 1963 Posts	Posted 03/14/2017 5:44 pm A coin counting machine breaks down VERY often. I heard that my local bank spent $20000 in maintenance fees on ONE coin counting machine. Report this Post to the Staff
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