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Dan52
Penny Collector Member
USA
422 Posts |
 Posted - 01/12/2009 : 20:21:51
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I took a drive to a nearby town today. Stopped at a FCU. I asked if they had any halves and the lady asked if I had an account, I said no, but a lot of banks like to get rid of their halves. The manager over heard this and ok'd my purchase of their halves. They had $488.00 in halves. They said it would be a minute because they hadn't been verified (counted) yet. I said, no problem. They started breaking open the rolls and i noticed that the rolls were fed rolls. I also noticed that one end of the fed rolls had been opened, like I do with a screw driver. Obviously, these rolls had been sorted and were dumpage. I mentioned this and they even took the time to sort through several rolls to see if there were any pre 1971 halves. There were not. I know that some folks say to never leave any halves, but I think there are exceptions and this was one. I visited 8 banks that day and bought 4 boxes + 40 rolls of cwr dimes + 27 rolls of halves. The halves yielded:
40% - 10
90% - 1 ( A 1961 Ben Franklin!)
It will be awhile before I sort all the dimes.
Happy sorting.
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 01/12/2009 : 20:35:04
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quote:
I also noticed that one end of the fed rolls had been opened, like I do with a screw driver.
Interesting. Never thought/had patience (lol) to open fed rolls with intention of re-using the paper. This may save a few moments per roll tomorrow night when I pick up some boxes.
On a tangent, I have been looking into Morgan dollars a little bit. If I go in the direction of collecting them, what book(s) has the best, reader-friendly information about collecting them? The way I figure it, if I do reach a critical mass of silver halves,dimes, nickels and quarters in the upcoming year or two, I might round off my lower-cost purchases of face value silver coins with Morgan dollars to expand the silver.
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Corsair
Penny Hoarding Member
811 Posts |
Posted - 01/12/2009 : 21:09:09
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| You said you were doing dimes; I had my bank order me two boxes for Thursday. Do you side search, or are you more specific? If so, what do you look for? |
So long, Realcent 1. Come visit us at Realcent.org! |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 01/12/2009 : 21:30:01
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quote:
Originally posted by Dan52
I took a drive to a nearby town today. Stopped at a FCU. I asked if they had any halves and the lady asked if I had an account, I said no, but a lot of banks like to get rid of their halves. The manager over heard this and ok'd my purchase of their halves. They had $488.00 in halves. They said it would be a minute because they hadn't been verified (counted) yet. I said, no problem. They started breaking open the rolls and i noticed that the rolls were fed rolls. I also noticed that one end of the fed rolls had been opened, like I do with a screw driver. Obviously, these rolls had been sorted and were dumpage. I mentioned this and they even took the time to sort through several rolls to see if there were any pre 1971 halves. There were not. I know that some folks say to never leave any halves, but I think there are exceptions and this was one. I visited 8 banks that day and bought 4 boxes + 40 rolls of cwr dimes + 27 rolls of halves. The halves yielded:
40% - 10
90% - 1 ( A 1961 Ben Franklin!)
It will be awhile before I sort all the dimes.
Happy sorting.
Seems weird that they would have to count them if they were fed rolled. And correct me if I am wrong but if they are fed wrapped they cant really be open on one end without all the coins falls out. Fed wrapped rolls dont have a crimped edge.
My 2 cents is that you still should have taken the fed rolls. Yes, you are less likely to get a good score, but fed rolls still can and do contain silver sometime. I got 7 40% and 2 90% out of fed rolls the other day
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Copper Penny Investing
www.portlandmint.com |
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Dan52
Penny Collector Member
USA
422 Posts |
Posted - 01/12/2009 : 21:46:16
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| Highroller, let me clarify. They were fed wrappers that someone had opened one end and searched and replaced the contents. They were the dumpage from someone who had bought a $500 box. The fact that there were $488 available is a good clue. They found $12.00 in silver halves. To keep from having to ask for or buy wrappers, I take a screwdriver and pry open one end of the roll, whether it be halves or dimes. I then take a pen or pencil and push the coins through the open end. I then look for silver. If there is any I replace them with the right amount of non-silver and put them back in the wrapper and fold it shut. I don't buy fed wrappers that have one end opened and folded back by hand. Corsair, I used to face search dimes, but I lost the patience to do so. Most non-dirty silver sticks out like a sore thumb when side searching. Proofs are usually a bit wider and the reeds on the edge are in better shape than non-proof dimes. So, I side search and then face search anything that doesn't have that copper look and any with reeds that are very clean and wide, or are very dirty looking. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 01/12/2009 : 21:48:43
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quote:
Originally posted by Dan52
Highroller, let me clarify. They were fed wrappers that someone had opened one end and searched and replaced the contents. They were the dumpage from someone who had bought a $500 box. The fact that there were $488 available is a good clue. They found $12.00 in silver halves. To keep from having to ask for or buy wrappers, I take a screwdriver and pry open one end of the roll, whether it be halves or dimes. I then take a pen or pencil and push the coins through the open end. I then look for silver. If there is any I replace them with the right amount of non-silver and put them back in the wrapper and fold it shut. I don't buy fed wrappers that have one end opened and folded back by hand. Corsair, I used to face search dimes, but I lost the patience to do so. Most non-dirty silver sticks out like a sore thumb when side searching. Proofs are usually a bit wider and the reeds on the edge are in better shape than non-proof dimes. So, I side search and then face search anything that doesn't have that copper look and any with reeds that are very clean and wide, or are very dirty looking.
Dan please dont take offense because im not calling you a lair, just curious is all
Will a bank even take open rolls like that back? |
Copper Penny Investing
www.portlandmint.com |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 01/12/2009 : 22:33:40
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I agree about the Fed rolls, they can be opened and then folded over/closed. They are akin to shotgun rolls.
The bank will accept them as Customer Wrapped Rolls(CWR), just as they would any paper wrappers. |
"May your percentages ever increase!" |
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misteroman
Administrator
USA
2565 Posts |
Posted - 01/13/2009 : 01:17:37
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| I do it with a screwdriver as well,well after the finger tips get too sore |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/13/2009 : 05:08:04
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here is why I don't turn down halves.
i went hunting this past weekend. got 1-90% and 17 40% and 2 NIFC out of about $350 in rolls. In most cases the tellers warned me that they had already been searched. I think a lot of searchers don't know about 40%ers and NIFC.
with rolls of 40% selling for $35 and 90% selling for $100, the per coin profit is 1.25 and 4.50 over FV. ($35 minus $10 FV divided by 20 coins) So every 3.6 40% equals 1 90%. So the way I figure it I found 5-6 90% out of $350, which is a ratio I will take all day long. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 01/17/2009 : 18:54:07
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| I open the fed rolls and reuse them as well. if I want to I can reroll them and most would not know that I did it. Generally, I just leave the one end open. the tellers need to unwrap them to put them in bags for reshipment to the fed. it saves me a step and them a step if I don' close the end. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 01/18/2009 : 11:17:44
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quote:
Originally posted by Lemon Thrower
here is why I don't turn down halves.
i went hunting this past weekend. got 1-90% and 17 40% and 2 NIFC out of about $350 in rolls. In most cases the tellers warned me that they had already been searched. I think a lot of searchers don't know about 40%ers and NIFC.
with rolls of 40% selling for $35 and 90% selling for $100, the per coin profit is 1.25 and 4.50 over FV. ($35 minus $10 FV divided by 20 coins) So every 3.6 40% equals 1 90%. So the way I figure it I found 5-6 90% out of $350, which is a ratio I will take all day long.
One of the top ten rules of half hunting
NEVER belive a teller when they say that the halves have been sorted through. MOST tellers dont even know about the 40% Theres been at least a dozen times when Ive been told that the halves have been sorted through. Everytime except 1 time I found Silver! |
Copper Penny Investing
www.portlandmint.com |
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 01/18/2009 : 20:16:06
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| If i go to a bank and they have tons of halves, I think "someone's dump." I ususlly buy $50 and check them in the parking lot. If they are good I go get the rest. If they aren't I'm not out much and have saved my funds for better finds. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 01/21/2009 : 16:13:38
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| I would never leave rolls of halves, even if $50 worth showed nothing... unless, as this thread began, they looked as if they were most certainly someones searched/dumped rolls. You could get $50 of clad and the other $110 worth could all be silver (40% or 90%). My mom has found solid silver rolls alongside solid clad rolls. |
"May your percentages ever increase!" |
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Left $488 worth of halves.
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