Hi. I am new to this. I was wondering how i should get cents to go through? Should i get them at the bank or from coinstar companys? How much should i buy? Thanks for the help Chris. Any other information would be great
Your best bet is to get cents at the bank. I think some people here buy hundreds of dollars worth at one time, I usually pick up $50-$150 worth. If you are wanting to get more than a box or two, you'll probably want to preorder them. I have never tried to get coins from the coinstar "company" and I don't know if one could do that. I've heard that some people contact whoever services them? Maybe someone else here has done that. Probably the most important rule to follow is do not dump where you pick up. Some of my source banks tell me I can deposit the coins after I go through them, but I doubt this welcome would last long, so get a good source bank and a dump bank.
Even I can't get cents from the Coinstar company.. would love to if I could though.
Publius is right about the bank being your best source though. There was once a famous bank robber named Willie Horton. When they finally caught him they asked him.. "Why do you rob banks?" His reply.. "Cause that's where the money is." The same holds true of cents.
I am one of the guys that likes to buy in bulk. My standard order at several different banks is 24 boxes. Why.. cause that is what fits easily on my cart and in the trunk of my Camry. And cause that seems like about as much as most banks will order for you on a regular basis. To get that many at once you have to preorder. Best bet is to start off with 1 box at a time. Also ask if they have any rolls they want to get rid of. Many times I have scored up to $200 in CWR on a drive by just by asking. The tellers are happy to unload them on you.. cause that way they don't have to ship them. Develop relationships with your bankers and you can get on the penny gravy train.
Welcome to the board and the hobby!
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available.
24boxes? thats alot of weight for the camry trunk. (around 400lbs)LOL I bet it sits down alittle. I couldn't imagine going through that many at a time.. I usually just pick up a box at a time 2-3 times a week but I hand sort..Welcome to the hobby. phil
Trust me.. if I could order loose bags I would quadruple the pennies I go through.. but bags, like lobby coin counting machines are just not available in my area. So you just get what you can. It's only about 350 pounds rather than 400.. copper percentages are a little lower out here. My solution.. "Just sort more."
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available.
I keep thinking about what an amazing opportunity it is to buy (at face value) what others will want, but can't find, when hyperinflation kicks in.
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities.
New to coin keeping
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Posted - 07/18/2009 : 01:24:09
I think some people here buy hundreds of dollars worth at one time, I usually pick up $50-$150 worth. If you are wanting to get more than a box or two, you'll probably want to preorder them. I have never tried to get coins from the coinstar "company" and I don't know if one could do that. I've heard that some people contact whoever services them? Maybe someone else here has done that. Probably the most important rule to follow is do not dump where you pick up. Some of my source banks tell me I can deposit the coins after I go through them, but I doubt this welcome would last long, so get a good source bank and a dump bank. 
