any SilverBugs/Coin Roll hunters here? Check this out! (2 Viewers)

[mrbeebe228]

My father purchased a bag from the bank here in town.Traded in $180 for $1200 essentially. The teller called him and asked if he was interested in buying the bag.

How do you go about asking the teller for silver coins? i figure its a precious metal so it will go up in value. No harm in collecting silver dimes and quarters like anyone else would a stock or mutual fund.

you just ask for coins.. and you sort through them, most of the cashiers are stackers too, they search the rolls they open before they put them in the drawer, if something comes in and looks really old, they will buy the roll. Lucky for me in this case, I got a cashier that had no idea, and didn't seem to care. Sealed cases are good too, because they come in clear rollers, and no one at the bank has looked at them, all you have to do is look at the side of a roll in a stack, and you will see plain as day if there is a silver one, itll be shiny on the side while the clad ones look copper on the side. If the box is opened, the cashiers usually look at the sides of the clear rolls and take out any ones with a silver coin in it.

 

[El Caliente]

So the bank will sell you a $100 worth of dimes for a $100 even though their bag of dimes might hold some silver dimes fetching 10x as much as a dime now?

 

[IntenseSaint]

So the bank will sell you a $100 worth of dimes for a $100 even though their bag of dimes might hold some silver dimes fetching 10x as much as a dime now?

Pretty much, I used to do it as well. Just not as much time anymore.

 

[mrbeebe228]

So the bank will sell you a $100 worth of dimes for a $100 even though their bag of dimes might hold some silver dimes fetching 10x as much as a dime now?

Well, it's more like 24x as much..and rising. We're talking about 1-2 dimes in 2,500 now.. not many scores like the one I hit happen.. that's kinda like a once in a lifetime thing.. considering we've been off the precious metal standard since 1965. Pretty much the only way they make it to circulation now is that some of these older people are dying and their piggie banks are getting robbed for beer money. They'd have to hire someone full time to find these dimes, quarters and halves and they don't really care that much.

 

[mrbeebe228]

No harm in collecting silver dimes and quarters like anyone else would a stock or mutual fund.

It's better than a stock or mutual fund. All a stock is a piece of paper with a promise to pay you when you sell, gold and silver will always be worth money.. even if the entire economy collapses. It's sad how phony our current currency is, basically a bunch of paper and alloy coins..all dependent on the health of our economy.

 

[El Caliente]

Good to know. Can I only go to banks for these dimes of there other places?

 

[FLIPPY]

Does it work with quarters?

 

[mrbeebe228]

Does it work with quarters?

Quarters are handled more, so by sheer numbers, there is far less in circulation.. but I've found some. Any pre-1965 quarter is 90% silver.. worth about $5.50 right now. A box of quarters from the bank is $400.00

 

[mrbeebe228]

Good to know. Can I only go to banks for these dimes of there other places?

I mean, idk of anywhere else where you can buy an entire case of dimes.. laundry mats are great for buying quarters. I wanted to try to buy a coinstar machine so I can search myself, but apparently they don't franchise them out.

 

[saintingeorgia]

I am resurrecting a old thread, but I thought it was better than starting a new one.
I am starting to roll change that I have saved over about 3 years or so. Last time I rolled, I found a real buffalo nickle, now I am wondering what I might have missed. I have some questions. What do I need to look for to see if I have anything worthwhile?
Right now, all I'm doing are the silver coins, no pennies yet, although I have about $100 dollars in pennies-just not ready to roll them yet.
I have found a lot of old dates on the nickles-60's,50's, and a few 40's. I just don"t know how old they have to be to be worthwhile holding on to.
The quarters I have rolled already without really looking at them, but I found one that was 1967-worth holding on to? Worth going back through them?
I haven't started the dimes yet.
What do I need to know? I know I should have asked before I started, but.....

 

[kaoticx]

Nice thread. We've recently came across a bunch of coins through inheritance. My wife's grandmother was big into collecting coins. I'm talking old coins, coins from all over the world also that she collected on trips. I'm going to have to look at them closely, just not really up to par on what to look for....

 

[The Unrest Cure]

What do I need to look for to see if I have anything worthwhile?

The quarters I have rolled already without really looking at them, but I found one that was 1967-worth holding on to? Worth going back through them?

What do I need to know? I know I should have asked before I started, but.....

It depends what you are collecting for; some people want complete sets of all minted coins in a denomination (whether at UNC grades or handled ones) while others just collect those of "value". As far as value, most everything non-silver minted after 1950 is worth pretty much just face value if it has been circulated. Silver coins, of course, carry a higher value than face because of their bullion content. Depending on the price of silver they can be worth a lot or just over. Currently silver is worth about 1110% of face denomination.

Unfortunately most modern US coinage is worth only face (there are significant exceptions, such as proof strikes). Buffalo head nickels - such as the type you found - can be worth some money depending on year, condition, and mint of origin. Interestingly because of their date's high relief often times they have no date on them anymore! I'd advise you to look up prices - and scarcity - online to get an idea of what ones offer the greatest value in investment terms. Most of what you find nowadays isn't really worth too much over face, even if it is aged.

Collect what you want in the condition you can afford ... is the best advice I can give. It is a lot more fun as a hobby to collect than a hobby to worry about bullion prices.

Sometimes strange stuff shows up; the other day I got a 1909 Indian Head penny out of our cash drawer at work. While it is only worth a few dollars, the history it offered up (and the fascination my daughter had with something that "old") was awesome.

 

[saintingeorgia]

It depends what you are collecting for; some people want complete sets of all minted coins in a denomination (whether at UNC grades or handled ones) while others just collect those of "value". As far as value, most everything non-silver minted after 1950 is worth pretty much just face value if it has been circulated. Silver coins, of course, carry a higher value than face because of their bullion content. Depending on the price of silver they can be worth a lot or just over. Currently silver is worth about 110% of face denomination.
Basicaly, keep anything before 1950?
Unfortunately most modern US coinage is worth only face (there are significant exceptions, such as proof strikes). Buffalo head nickels - such as the type you found - can be worth some money depending on year, condition, and mint of origin. Interestingly because of their date's high relief often times they have no date on them anymore! I'd advise you to look up prices - and scarcity - online to get an idea of what ones offer the greatest value in investment terms. Most of what you find nowadays isn't really worth too much over face, even if it is aged.

Collect what you want in the condition you can afford ... is the best advice I can give. It is a lot more fun as a hobby to collect than a hobby to worry about bullion prices. I am not buying to collect. This is change, collected over several years-you know empty the pockets before you wash, etc. I don't carry a purse so I have no room for change-it all goes in jars. Not really a collector either-just most of the stuff that I think may have value later, money or even just interesting such as your penny, will go to my son eventually. He can do what he wants to with it.

Sometimes strange stuff shows up; the other day I got a 1909 Indian Head penny out of our cash drawer at work. While it is only worth a few dollars, the history it offered up (and the fascination my daughter had with something that "old") was awesome.

So...

 

[The Unrest Cure]

The older the better. I wouldn't bother keeping anything past 1964, and only the silver stuff after the 1940's.

 

[saintingeorgia]

The older the better. I wouldn't bother keeping anything past 1964, and only the silver stuff after the 1940's.

I have a lot of 64's. How can you tell which is silver?