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Nickelless
Administrator
USA
5580 Posts |
 Posted - 05/28/2009 : 18:41:14
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OK, I just finished going through a sealed Brinks box of halves--$500 worth--and didn't even find a single 40-percenter in the box. I got nothing but clads. I realize there are some people on here who have decent luck finding wild silver, but I guess my concern is for newbies who think that if they search through enough boxes, they'll find a decent amount of silver, but for the time, energy and money they tie up in looking for silver that may or may not be in the boxes they get from the bank, they could make much faster progress in building up their silver stash by buying silver directly from dealers or other sellers. If you're wanting silver, IMO, don't waste your time buying boxes or rolls of halves. Go to a local coin dealer or to Fleabay and save yourself the frustration.
</rant>
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fb101
Administrator
USA
2856 Posts |
Posted - 05/28/2009 : 19:20:15
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For what it's worth, I think my last 4 or 5 have been skunks.
I'm looking for new pickup banks.
I sympathize, but let me ask this;
If you were picking up pennies at a bank and your copper percentage dropped to 3%,
would you give up or find another pickup? |
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zerocd
Penny Hoarding Member
555 Posts |
Posted - 05/28/2009 : 19:31:02
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No, it's not a sure thing searching boxes of halves. I too have been getting skunked badly getting only about 2 40%ers per box on the last eight boxes. Actually the silver was all from one of the eight boxes.
I find the passtime enjoyable on long winter nights.
I collected a full large shoebox full of silver since january, half was 40% and the rest were almost evenly split between Franklins, Walkers and 64's. I even found several dozen proof coins including 6 silver proofs.
Do not do it instead of a day job.
I collect coins and have a lot of fun.
I am off for the summer.
0CD |
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Nickelless
Administrator
USA
5580 Posts |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 05/28/2009 : 19:42:36
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I think you have to ask yourself a question, "Why are you hunting for wild silver?"
If your stack of silver coins and rounds is the size of a small mountain  , the answer is you are doing it for the fun and the excitement  of the treasure searching. If you don't have the fiat to buy silver and are worried that your silver stack is inadequate, you are doing it because your choices are limited. Other folks are somewhere between.
I believe if you can "afford" to spend some fiat to improve your stack, do it. Compliment your fiat spending with the fun  of wild silver searching to the extent you have time to do so. If you don't find much during your wild silver searches and you think you may be wasting your time  , think about creative ways to earn more fiat  so that you can buy more silver .
I think wild silver seaching has to be creative. Are you dumping in a Dunbar bank and getting your boxes at a Brinks bank? Do you need to increase the number of boxes you get from your source bank to improve your odds? Would your time be better spent on road trips to obscure little banks? I think you have to be flexible and revise the methods you are using to avoid the countless SKUNKS  that could be encountered. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 05/28/2009 : 20:03:05
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I've searched $5,000 of halves in the last 8 months. 1 - 40% halve.
I get 3-6 silver dimes in each $250 dime Brinks box. Dimes are better here in Indy. |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/28/2009 : 20:03:21
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^
I agree with country's post.
I probably shouldnt be posting in this thread because I dont want to seem like I'm rubbing it in anyone's face or anything. And I really really am not, and understand your frustration.
But everyone's situation is different, but I think to be successful, you need some sort of strategy or effective plan.
And I think a lot can be learned from interactions with tellers. A while back, from talking to the teller, I found out that one of the national banks used to provide full services in my area, but they pulled everything out, and only have a vault for their business clients. So they maintain a vault with coinage that hasn't been touched for around 10 years. A week or two ago, I test ordered from their vault from one of the other banks which I hold an account at. I'm still going through roughly $2000, 195/200 rolls appear to have been marked and probably contain nothing. There were 4 rolls that collectively had about 12 40%. I found 1 roll that was solid 40%s. My guess is that if I keep ordering from them and digging under the skunks, I'll find that the silver veins will grow bigger and bigger.
But for now, I'm focused on depleting a different bank that's producing the silver bags. Because I know that other prospectors have easy access to this bank vault, but don't have access to the other's. I know of one other prospector that's pulling $500 at a time from them, at a rate of 1 every week or every other week as well. I WILL deplete this bank's stock of coins down to 0 before moving on.
It's all strategy. |
Edited by - buyingsilvers on 05/28/2009 20:22:07 |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/28/2009 : 20:09:10
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If I lived in an area with brinks, I'd probably try to return in rolls and mark the rolls to avoid having them coming back to me in "new" boxes. I'd also mark a sample of the coins themselves to see if my own dumps is coming back to me.
I'd also see if I can get in touch with someone who knows if brinks themselves are machine sorting out the silvers. If they are, then that explains the low to non-existent silver counts. And explains the futility of getting your boxes from them. |
Edited by - buyingsilvers on 05/28/2009 20:17:07 |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/28/2009 : 20:11:52
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^
I'm well over 150 toz for the month of may alone. With the economic crisis and all A LOT of old silver coinage is reentering circulation. The harder part is accessibility because of competition, both with the industry (brinks, coinstar, banks, etc.) and with individuals. I think it's more likely than not that the "small guy" who lives in major cities are getting shafted by the coin processors. |
Edited by - buyingsilvers on 05/28/2009 20:26:40 |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 05/28/2009 : 20:40:14
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quote:
Originally posted by Nickelless
OK, I just finished going through a sealed Brinks box of halves--$500 worth--and didn't even find a single 40-percenter in the box. I got nothing but clads. I realize there are some people on here who have decent luck finding wild silver, but I guess my concern is for newbies who think that if they search through enough boxes, they'll find a decent amount of silver, but for the time, energy and money they tie up in looking for silver that may or may not be in the boxes they get from the bank, they could make much faster progress in building up their silver stash by buying silver directly from dealers or other sellers. If you're wanting silver, IMO, don't waste your time buying boxes or rolls of halves. Go to a local coin dealer or to Fleabay and save yourself the frustration.
</rant>
The key is small town banks! Thats where you have the most sucess!
And wow your giving up and bashing half hunting over $500 searched? You dont even have to look at the dates for the silver, just look at the rims. That takes maybe 20 mins, most likely less, to search through that many!
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Copper Penny Investing
www.portlandmint.com |
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fb101
Administrator
USA
2856 Posts |
Posted - 05/28/2009 : 20:55:05
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Nickelless, you are correct, but my point was more like trying different sources might provide different results.
I don't know how many boxes you've tried, but if it's less than 20, you really should shop around before you give it up.
Friendly opinion.
I mine silver to drive down my average cost per ounce which is now $6.71. Mining offsets purchases at normal prices. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/28/2009 : 21:01:23
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quote:
Originally posted by highroller4321
quote:
Originally posted by Nickelless
OK, I just finished going through a sealed Brinks box of halves--$500 worth--and didn't even find a single 40-percenter in the box. I got nothing but clads. I realize there are some people on here who have decent luck finding wild silver, but I guess my concern is for newbies who think that if they search through enough boxes, they'll find a decent amount of silver, but for the time, energy and money they tie up in looking for silver that may or may not be in the boxes they get from the bank, they could make much faster progress in building up their silver stash by buying silver directly from dealers or other sellers. If you're wanting silver, IMO, don't waste your time buying boxes or rolls of halves. Go to a local coin dealer or to Fleabay and save yourself the frustration.
</rant>
The key is small town banks! Thats where you have the most sucess!
And wow your giving up and bashing half hunting over $500 searched? You dont even have to look at the dates for the silver, just look at the rims. That takes maybe 20 mins, most likely less, to search through that many!
I'm working 60+ hours a week and driving 300 miles round-trip every weekend to see my girlfriend. Not sure I have a lot of time to chase down wild silver compared to just buying it. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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---------------
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/28/2009 : 21:03:38
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^
There's no banks along the 150 miles of road?
When I used to search for CWRs heavily, I used to have maps with all the banks and their hours plotted out. Then, I'd bounce from bank to bank in a given area.
Edit: 60hrs/week sucks. Yeah, you dont have time for it. lol |
Edited by - buyingsilvers on 05/28/2009 21:12:56 |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 05/28/2009 : 21:09:14
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quote:
Originally posted by Nickelless
quote:
Originally posted by highroller4321
quote:
Originally posted by Nickelless
OK, I just finished going through a sealed Brinks box of halves--$500 worth--and didn't even find a single 40-percenter in the box. I got nothing but clads. I realize there are some people on here who have decent luck finding wild silver, but I guess my concern is for newbies who think that if they search through enough boxes, they'll find a decent amount of silver, but for the time, energy and money they tie up in looking for silver that may or may not be in the boxes they get from the bank, they could make much faster progress in building up their silver stash by buying silver directly from dealers or other sellers. If you're wanting silver, IMO, don't waste your time buying boxes or rolls of halves. Go to a local coin dealer or to Fleabay and save yourself the frustration.
</rant>
The key is small town banks! Thats where you have the most sucess!
And wow your giving up and bashing half hunting over $500 searched? You dont even have to look at the dates for the silver, just look at the rims. That takes maybe 20 mins, most likely less, to search through that many!
I'm working 60+ hours a week and driving 300 miles round-trip every weekend to see my girlfriend. Not sure I have a lot of time to chase down wild silver compared to just buying it.
Just because it doesnt work in your schedule, doesnt mean you need to come on here and bash it! Its just not right for you at this point in time... |
Copper Penny Investing
www.portlandmint.com |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 05/28/2009 : 21:14:31
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I know your pain Nick, I run awful too, but I keep thinking it may turn around some day.
I've gone thru approx 30k in 1/2's the last 6 mo and have found approx 28toz total...
Its still somewhat fun, meaning I am at home, I have some online poker going so I am making a few bucks while I am searching so its not all bad... |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/28/2009 : 23:02:48
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quote:
Originally posted by buyingsilvers
^
There's no banks along the 150 miles of road?
When I used to search for CWRs heavily, I used to have maps with all the banks and their hours plotted out. Then, I'd bounce from bank to bank in a given area.
Edit: 60hrs/week sucks. Yeah, you dont have time for it. lol
I work either second or third shift and usually leave for Kentucky late Friday night and come back late Sunday night. Not many banks open at those hours.
quote:
Originally posted by highroller4321
Just because it doesnt work in your schedule, doesnt mean you need to come on here and bash it! Its just not right for you at this point in time...
Hey man, we've all had our rants on here. This is the first time I haven't been happy to get copper from a bank. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
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Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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rainsonme
Penny Pincher Member
USA
183 Posts |
Posted - 05/30/2009 : 20:14:47
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| The original poster is absolutely correct. Prospecting for silver in half dollar boxes and bags is not profitable. Total your hours invested, and the pain of lugging those halfs back to the bank ---- not worth it. However, if you do it for fun, then it's another matter. I enjoy it. I have no idea why I enjoy it, but it's a harmless hobby. I get skunked more and more. Despite several people's posts over the past year that more old coins should return with the economy, I see a decline in "richness" of the pool. But it's still fun. I would probably make more money per hour picking up deposit cans on the road side, and do more social good. But for me, it's fun, and that's why I do it. I would discourage anyone from doing this for true monetary gain, or to build a silver coin buffer against a fiat currency collapse. Sifting silver from banks is too time consuming, varaiable, and low return for anything but a hobby. But, that said, it is a hobby that pays for itself, even if the pay is low. Not many hobbys can claim that. I do several thousand half's a week. Most skunks. Ever now and then one rich enough to keep me entertained. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 05/30/2009 : 22:15:55
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quote:
Originally posted by rainsonme
The original poster is absolutely correct. Prospecting for silver in half dollar boxes and bags is not profitable. Total your hours invested, and the pain of lugging those halfs back to the bank ---- not worth it. However, if you do it for fun, then it's another matter. I enjoy it. I have no idea why I enjoy it, but it's a harmless hobby. I get skunked more and more. Despite several people's posts over the past year that more old coins should return with the economy, I see a decline in "richness" of the pool. But it's still fun. I would probably make more money per hour picking up deposit cans on the road side, and do more social good. But for me, it's fun, and that's why I do it. I would discourage anyone from doing this for true monetary gain, or to build a silver coin buffer against a fiat currency collapse. Sifting silver from banks is too time consuming, varaiable, and low return for anything but a hobby. But, that said, it is a hobby that pays for itself, even if the pay is low. Not many hobbys can claim that. I do several thousand half's a week. Most skunks. Ever now and then one rich enough to keep me entertained.
If you do it right you can be very profitable! On many many occasions I have managed $50+ an hour! Yes, that includes my time, gas, and even lunch! Its all about how you do it.
I have NEVER not paid for my gas and lunch, as well as making a profit.
Seriously if everyone wants to just bash half hunting just keep that to yourself. No, need to dis on some people hobby just becuase you dont find your method of doing it profitable....or "worth it" in your eyes! |
Copper Penny Investing
www.portlandmint.com |
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Maine_Jim
New Member
8 Posts |
Posted - 05/30/2009 : 22:32:04
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Pulled about 400 oz. so far this year - can seem like work sometimes but about once a month I get a seriously nice grampa collection that has been recently dumped.
Maine_Jim |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/30/2009 : 22:42:59
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| I honestly dont mind the rant threads. While I'm willing to give advice to anyone, perhaps it's a good thing that potential hunters are well aware that it's no guarenteed home run, as a few of our posts make it seem like. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 05/30/2009 : 23:09:20
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I figure if I am at the bank already picking up pennies why not get some halves too.
I gotta dump the zincs somewhere...so take the clad halves back too. |
You don't have to be the BEST you just have to be.......SLICK
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rainsonme
Penny Pincher Member
USA
183 Posts |
Posted - 05/31/2009 : 00:04:13
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| well, OK. I guess I don't do it right. How do I make $50 an hour? I typically sort 4k to 6k of halfs per week. About half of them from BoA and the other half from US Bank. One of them is Brinks rolls, and the other just says "half dollars" on the rolls. And I stop at about 8 other branches during the week trolling for teller halfs. Assuming a 40% is worth about $2.50 to $3 @, and a 90% is worth about $5 to $6, I do not know how to net $50 an hour. Maybe not $50 a week most weeks, the way I do it. What is the formula for more lucrative prospecting? And, as I said in my earlier note, I do it because I enjoy it; for me it is a hobby, and an odd little challenge. But I would like to do it more effectively. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 05/31/2009 : 00:45:41
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quote:
Originally posted by rainsonme
well, OK. I guess I don't do it right. How do I make $50 an hour? I typically sort 4k to 6k of halfs per week. About half of them from BoA and the other half from US Bank. One of them is Brinks rolls, and the other just says "half dollars" on the rolls. And I stop at about 8 other branches during the week trolling for teller halfs. Assuming a 40% is worth about $2.50 to $3 @, and a 90% is worth about $5 to $6, I do not know how to net $50 an hour. Maybe not $50 a week most weeks, the way I do it. What is the formula for more lucrative prospecting? And, as I said in my earlier note, I do it because I enjoy it; for me it is a hobby, and an odd little challenge. But I would like to do it more effectively.
Small community banks in small towns.
The community banks usually dont want to pay the fees to ship the coins into the fed and half dollars arent commonly cicrulated so they just sit there in the vault. This is by far the best method I have found!
You wont always make $50 an hour, but I have made that much a number of times. |
Copper Penny Investing
www.portlandmint.com |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/31/2009 : 00:52:41
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Excluding full roll finds from CWRs, the most I've found was one that I mentioned in the finds thread. About $600 in silvers from 1 machine bag, sorted and rebagged over my lunch break. I used to spend my lunch breaks bullsxxtting around the breakroom (basically wasting time), but nowadays, I'm spending time ordering/dumping halves.
sxxt, even $10/hour work is good enough already. How many hobbies do you have that actually increase your wealth? This is a first for me. |
Edited by - buyingsilvers on 05/31/2009 00:54:01 |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/31/2009 : 01:02:24
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The thing about smaller community banks is that a lot of them dont have their vaults. They either have to get them from brinks or another vault. This is where your interactions with tellers pays off. LEARN from the bank managers & vault tellers. Missing out or dismissing on one small piece of inforamtion, and you can lose a lot of potential finds or waste your own time. Dont be afraid of spending money or locking up money with a new account to make money. Smaller bank charges a $5 fee for boxes, but gets it from their own central vault? I'd be all over that, at least worth a $20 for a test sample.
Develop a good working relationship. Be professional, courteous, and timely. They've probably dealt with people who were rude, give them back skunks, and failed to pick up orders. Dont be like that. I've walked into banks asking for half orders before and promptly been REJECTED. After a few months of good interaction with the tellers, and management, asked again, and they're now doing orders for me.
I'm cycling and holding thousands of dollars through the dump/pickup bank accounts. I provide $5-10 boxes of chocolates now and then to the best banks. Reward the banks that provide good service with deposits & sweeets.
As always, YMMV
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Edited by - buyingsilvers on 05/31/2009 01:21:09 |
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Hunting for wild silver is a waste of time...
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