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JerrySpringer
Penny Hoarding Member
669 Posts |
 Posted - 12/11/2008 : 16:25:15
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Day off today and needed to dump some halves. Managed to deposit three boxes worth of halves. I pulled a few silvers from this latest search, but quite a few NIFCs and proofs plus some nearly BU quality 1970's,1980's and 1990's era Kennedys. I find tons of 1976 bicentennials and in this search I found a few polished ones. Are these actually polished or plated somehow? The luster can not be confused. They have no mint-marks too. It looks like they were polished. Unfortunately, they were scratched a bit also, so not so much ones I will hold onto for very long. I figure I should hold on to some of the common dates halves though when I find them in excellent shape. For example, I kept a 1973 that has no signs of scratching or wear on the edge. For a coin nearly 35 years old, it is improbable that it would not exchanged much. I think it came straight out of a BU roll recently and hence shows minimal wear. This brings up the question of whether banks are emptying all their vaults for any old rolls due to coin searcher requests. I am finding numerous 2000 P and 2001 D halves. It was only a few months ago I was able to find a bank branch that had a few hundred dollars worth of BU 2001 D rolls. It may be a good thing to hold onto any pristine common halves as I think as more folks search the halves, the more wear will happen on them and hence the circulation values get skewed.
The ladies at the branch I dumped at are inquisitive about all the halves I bring in. I told them straight that I order from another bank and dump at theirs. I did it cheerfully and with some mild aplomb as I am a collector and I figure they can do the same thing I do. They have told me outright that they search any halves' rolls that come across their desks for silver. They should not have any problem if I am searching for silver also. I only dump at their branch about once a month also.
I picked up $100 in bagged pennies from a local bank. Peaking through the plastic, I do not see many wheats, so oh well, but having the bagged coin like that is much easier than opening the paper rolls. This particular branch told me they have a few bags of quarters too. You folks think it is worth it to search them for silver? I may head back to them this weekend to pick up the quarters if it is worth it.
OK, here is another question/observation concerning dump banks. Do branches actually gain brownie points with all the physical money we deposit at them? This is important to know. If we repeatedly dump coins at one branch and shore up their physical money on hand while withdrawing cash from an ATM at another branch, are we benefiting the first branch? Seems like some kind of perpetual motion phenomena or a figurative violation of laws of thermodynamics somehow. The overall bank neither gains or loses any money, but one branch is losing the cash via ATM withdrawals while another is gaining via coin deposits. I ask this because dump banks can not argue against getting money in their hands if we are actually loading them up from other branches. I can see them arguing against us causing them extra work with all the coins they physically have to handle. I guess they have to pay to have coins delivered and pay to have coins hauled away too?
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 12/12/2008 : 09:03:05
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While my last box was mixed 1971-2001, more than half of it was dazzling 1998-Ps. Half dollars haven't circulated much since 1970, except at casinos. I'm not surprised at all to find Minty-fresh halves older than me.
Quarters are the toughest denomination to search. They get handled the most by hand and by machine, and the silver quarters get noticed; the odds are less than 1 out of 100,000. If you hunt quarters, most of your sparse finds will be Canadian quarters. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 12/12/2008 : 11:40:52
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At the banks I visit most that have counters turn thier coins directly into the FED for redistribution. Most like it when I drop a few halfs as once the bag gets full they can get rid of it.
They like not having to deal with the coins that go directly into the bags. |
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Thursday coin observations (long)
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