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 Replies: 34 / Views: 4,387 |
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Pillar of the Community
United States
520 Posts |
I am attempting to start roll searching for silver on a very low budget. Can this feat actually be done? Is there a way for me to buy rolls of halves or dimes by getting a bank loan that I almost immediately pay or once I turn the scraps back in? I currently have about $75.00 and really want to roll search for silver. As a college student, its hard to come by 500.00 very often.
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Valued Member
United States
277 Posts |
Good luck to you... your best bet would be to have the 75 dollars cash, buy the rolls, and than turn them after you look for the silver. You can't keep anything you like either, cause you will go broke very quickly
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Pillar of the Community
United States
3276 Posts |
a box of dimes or halves does not produce too much silver. and if you only have $75 then it is not too feasible. you may get lucky and find some though. and I do not know about the whole bank loan thing, doesn't sound like a good idea though.
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Pillar of the Community
United States
1150 Posts |
I hate to say it, however, I agree with these guys. You can get seventy-five dollars worth of rolls, search 'em, and return them. Regrettably, I don't think this will reap too many rewards for you. But stranger things have happened, so its all up to you.
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Pillar of the Community
United States
4333 Posts |
I know of other roll hunters who have taken loans to finance their hobby. Trouble is, finds are slim now, and with misc fees and such, it's hardly worth the effort today. My advice would be to save up until you have enough cash for a box, or just search cust rolls for now.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
132 Posts |
You can do anything you want in the USA, as long as it is not illegal.
It would be most reasonable to start off slow, and learn whether or not the logistics of the thing is worth it. You have to keep turning the $75 over in order to look at more coins. Your starting amount is reasonable as far as returning to the bank.
Is your goal finding silver to resell, or holding in case the price goes up in the future? A sure way to score silver is pay more than face value for it, then hold on tight.
If you are looking for an income from roll finds, you are liable to be extremely disappointed.
With that said, I started out at 50$ a throw, had some early success, and increased the amount. I am now at the 4 box per week level. Returning coins to a different bank than where you get them becomes a hassle that may not be worth it to you. I do not expect to find silver, and get pumped when I find a proof coin. There is still a little silver (.58% of coin searched is my rate at the moment), but not nearly enough to embark on a great enterprise.
It's a hobby that takes you to many different banks. Seeing how different tellers work is a fun aspect to watch. Other customers waiting in line behind you can also be a source of amusement, provided you have a thick skin!
If you are in it just for profit, it becomes work.
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Pillar of the Community
United States
4212 Posts |
I had a box of 50c last Friday nite. 2 '70's, period. I had big hopes. Since then, nickels have yield 8 silvers, 50-D, 6 '39's, 2 '38's, rolls of '82 P&D same for the '83's, very sharp roll of '97-D's, and came 4 coins away from completeing '38-
'10 For my time & $$, nickels hold more suprises than any other denom.
Edited by fioti
02/16/2011 07:26 am
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Pillar of the Community
United States
672 Posts |
You will spend more in gas driving back and forth than you will make with 75$. And most Banks make you order in 500$ increments. That being said if you can have customer rolls, go for it, but searching machined rolls with $75 just dosent make sense.
As for the loan, you would have to have some collateral to put up, I dont think many places will write you an unsecured loan, unless its a shark :(
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Pillar of the Community
United States
6326 Posts |
Well, you can definitely pull up to your bank and ask for $75.00 worth of Dimes.....but you'll be hard-pressed to find much Silver in them, unless you do it every week. That's actually not too bad of an amount to search, with Dimes. Even those who search Dimes regularly, search massive amounts very consistently in order to find a bit of Silver. With Halves, I've searched $2,000.00 to $3,000.00 worth, MANY MANY times without finding ONE SINGLE SILVER ! ......  So, $75.00 worth (if you could even only get that small amount) would not likely net you anything, unless you're EXTREMELY lucky. Those who find the Silver pieces, in any denomination, search rolls constantly and in huge amounts. Edited by eaglefoot
02/16/2011 08:25 am
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Pillar of the Community
United States
592 Posts |
3 boxes of cents would be a lot more fun.
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New Member
United States
40 Posts |
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Pillar of the Community
United States
2424 Posts |
i have actually seen may guys on here find soild rolls with just $100 in cash. CWR are by far more productive than boxes..
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Valued Member
United States
277 Posts |
Do it because you love it and the money will come. Do it for the money and you will find yourself wishing hadn't wasted your time.
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Moderator
 United States
188213 Posts |
Quote:
i have actually seen may guys on here find soild rolls with just $100 in cash. CWR are by far more productive than boxes.. Exactly! Do not overlook those loose customer wrapped rolls. There is no need to get boxes.  |
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Pillar of the Community
 United States
520 Posts |
Well, its not necessarily because I am searching for silver specifically, but that would be pretty amazing. I am just looking for cool finds in general. I love collecting coins, and want to do a little bit more than just going to the coin shop and buying an occasional coin ya know?
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Moderator
United States
188213 Posts |
I know exactly what you mean. My college years were lean times for coin collecting. They only coins I acquired were from my pocket change. The good news is that it gets better after you graduate and get a decent job!  Worst case... patience. Contrary to what chicken little might say, the coins will still be there when you get done with school. |
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Replies: 34 / Views: 4,387 |
Posted 02/16/2011 12:46 am
