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Replies: 14 / Views: 4,623 |
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Valued Member
United States
58 Posts |
I work at a bank as a teller and for the past year my manager has been having me save her the wheat pennies for her mom. I'm not sure if they are worth anything or not but am wanting to start collecting coins and didn't know where to start or what I should be looking for.
Any tips for a beginner? What should I be looking for?
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Pillar of the Community
United States
1424 Posts |
Sounds like a great idea...as long as you don't work at MY bank  Seriosly though, wheat pennies start at about 3 cents each and can be worth well over a $1,000 depending on the condition, date & mint mark.
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Pillar of the Community
United States
1231 Posts |
I would love to work at a bank, but I wouldn't get anything done. You would find me sitting in the vault all day.
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Pillar of the Community
United States
1424 Posts |
 I'd be fired in less then a week!
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Moderator
 United States
16679 Posts |
First of all,  . Wheat Cents are a great place to start. Start assembling different dates and mint marks and before you know it, you will be well on your way. The Lincoln Wheat cent was minted from 1909-1958. 1959-present is the current Memorial reverse. Also, keep an eye out for any silver dimes(1964 & earlier)quarters(1964 & earlier)half dollars(1970 & earlier). Since you work as a teller, these would be the most common coin types. Have fun and good luck! 
swcoin.ecrater.com
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Valued Member
United States
201 Posts |
Also, since you have ready access to rolls, it should be a fairly simple matter to complete type sets of State Quarters and Presidential dollars with the mintmark readily available in your location of the country.
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Pillar of the Community
Canada
1931 Posts |
My advice to you comes with a story. lol Last year I went to the bank to get rolls of change. This time for laundry not collecting. As the teller put the coins on the counter (in rolls) another teller came rushing over, opened my rolls and began picking through for the collectibles..... right there in front of me!! Needless to say, don't do this! I was so offended at having to stand there until she was done so I could get the rest of my rolls obviously irritated me enough to switch branches.
My best advice to you is watch for people bringing in rolls of change that are obviously older or from canada :) maybe keep a spare roll or 2 aside or in your bag to be able to trade out when you see a roll you'd like to sort through.
there, I talked your ear off. Happy hunting and good luck with your new hobby.
malissa
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Pillar of the Community
United States
2589 Posts |
I am a bank teller and also a coin collector. Although I do find numerous wheat cents and occasionaly a silver dime or half in customer rolls and rolls I open for my coin tray, the most facinating coins I find are in the coin machine at my bank. I always volunteer to test and clean the machine so that I can have an excuse to look through the coin bags and swap out goodies in exchange for common change. Ive found scores of silver quarters, dimes, halves (some from the twenties), Buffalo nickels and other things. My best finds however have been from the rejected coins that get stuck inside the machine. Ive found 70 steel pennies a large cent from 1842, 1901, 1920, and 1936 english pennies, a 1863 french dix centiemes, as well as a wide range of siver and other old foriegn coins. My advice to you is to sell anything that you wish to keep to another teller so that you can buy it back at the end of the day. This avoids security issues as well as other problems.
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Pillar of the Community
United States
959 Posts |
Which banks have counting machines for the customers to use in the lobby? I've only seen them in credit unions, and they wanted 4% to use them. Forget that!
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Valued Member
 United States
58 Posts |
Our bank has a counting machine and customers can bring in their coin for us to run free of charge. There is a 3% charge for non customers.
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Valued Member
United States
429 Posts |
My wife has worked in the banking field for about 15 years and I wish this was something she would have been involved in, it took until a few months ago for me to help and then she just recently quit her job. What she would do for me was get any new rolls that came in from customers and set them aside in her drawer then at the end of the day she would sell them to another teller and purchase them for herself (like comment above). I would then hurry and go through them for the main dated I did not have, older coins and errors and then re-wrap them up and turn them back in for rolls in the vault that had been sitting there for awhile. Since I mainly collect LMC's that is what I focused on and was able to go through every roll in the vault. The difficult part I see in the process is collecting and not looking like you are stealing or not enough attention in your job. But, there are certain things that will always pop out at you during the day and it is easy enough to set that aside. I would also suggest looking through your bills now and then as well. The things you are looking for there are: 1. star notes, any bill that has a star next to the serial number. These always give you a little premium especially if they are older. 2. radar notes, a note that has the same number forwards and backwards. 3. A low serial number, the closer to zero the better. 4. A birthday note, where the serial number is the same 4 digits, ex: 19121912 and of course 5. any $500 or bigger denomination, even in bad condition you can most likely double your money on these. A couple last rambling thoughts...collect what YOU want and what YOU like. Everyone has their opinion on what to collect but you are the one that keeps it and enjoys it, so find something in those lines. You also have a unique opportunity of where you work and the idea of collecting entire rolls may be of interest as well. Depending on what part of the country you are on you can easily trade these with others that may have the other mint and allowing you a complete set.
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Pillar of the Community
United States
1984 Posts |
Also, if someone tries to deposit 15 Morgan dollars, I would suggest not just crediting their account 15 dollars, and then buying them for a dollar each. Learn as much as you can about money and collecting, and then you can use your knowledge to expand your customer service skills and build relationships. There will be some people who come into the bank with whom it would make sense to share your burgeoning numismatic interest and aptitude.
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Pillar of the Community
United States
812 Posts |
Welcome to the forum! I suggest you purchase a Red Book (A Guide Book of United States coins by R. S. Yeoman). It's not a great price guide (though it can give you a general idea), but it is a wealth of great information about U. S. coins. I think this book will give you a lot of useful info and will help a lot with your collecting decisions.
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Pillar of the Community
United States
6326 Posts |
  ........Redbook purchase....  And just for the record........ I HATE IT WHEN BANK TELLERS ARE COIN COLLECTORS !...  ....  My main bank has a teller catching ALL THE SILVER KENNEDYS COMING IN......even looking at paper money......any and everything ! My small branch near my home also has a "coin collecting teller" and we discuss coins all the time when they aren't busy....... Kind of takes the wind out of yer' sales so to speak !... 
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Pillar of the Community
United States
2443 Posts |
Saving anything that looks weird or coins that are dated 1964 and earlier because those are silver (except the nickels and the pennies).
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Replies: 14 / Views: 4,623 |
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