Coin roll hunting can be a fun and potentially lucrative hobby for those interested in expanding their coin collection and making some extra cash.
This activity involves searching through rolls of coins, typically obtained from banks or other financial institutions, to find rare and valuable coins that may have been overlooked or remained in circulation for a long time. By keeping an eye out for specific coin types and closely examining each piece, enthusiasts can uncover hidden gems that collectors and investors are willing to pay a premium for.
To get started, it’s important to understand which coins are most likely to be valuable and how to efficiently search through rolls without getting overwhelmed. Developing a strategy for sourcing your coin rolls, such as finding banks that won’t charge fees for this service and establishing regular orders, can streamline the process and allow you to focus on the thrill of the hunt. Following expert tips and staying informed about the current market for collectible coins can also help you maximize the profits from your findings.
Overall, coin roll hunting offers a unique opportunity to combine a passion for numismatics with the potential for financial gain. Patience, dedication, and a keen eye for detail are essential but can lead to rewarding discoveries that turn your hobby into a moneymaker. So, head to your local bank, grab a box of coin rolls, and begin your adventure into the world of coin roll hunting.
Understanding Coin Roll Hunting
What is Coin Roll Hunting?
Coin roll hunting, or CRH, is a hobby in which you search through rolls of coins acquired from banks or other sources, in hopes of finding valuable or rare coins. It’s a popular pastime among collectors and coin enthusiasts, as it’s a relatively inexpensive way to potentially find rare coins. Through patience and persistence, some coin roll hunters have been fortunate enough to make profits off their finds1.
The Popularity of the Hobby
The combination of excitement in the hunt and the potential for profit has led to increased popularity in coin roll hunting. This hobby not only appeals to experienced coin collectors but also to those new to the world of coin collecting2. The low investment needed to get started in this activity makes it accessible to a wide range of people, and the thrill of discovering rare coins in everyday circulation keeps the interest alive among enthusiasts.
Types of Coins to Hunt
There are several types of coins that hunters typically search for when coin roll hunting:
1. Silver coins: Silver coins are highly sought after by collectors and investors alike, as their intrinsic value is significantly higher than their face value. Half-dollars, quarters, dimes, and nickels minted before certain dates contain higher percentages of silver3.
- Pre-1965 half-dollars, quarters, and dimes are 90% silver;
- 1965-1970 half-dollars are 40% silver;
- 1942-1945 “War Nickels” are 35% silver.
2. Copper coins: Older pennies made primarily of copper can be more valuable than their face value due to the increased price of copper4.
- Pre-1982 pennies are 95% copper.
- 3. Rare or error coins: Some coins have limited mintages or errors in their design, making them highly sought after by collectors. These can range from variations in the mint marks, to doubled dies, or even off-center strikes.
By focusing on these types of coins and refining your coin roll hunting skills, you can potentially make money while enjoying the hobby of coin collecting.
Getting Started with Coin Roll Hunting
Coin roll hunting is a fascinating hobby where enthusiasts search through rolls of coins obtained from banks or other sources, hoping to find rare, valuable, or interesting coins. In this section, we will provide you with a brief guide to help you get started in the world of coin roll hunting.
Sourcing Coin Rolls
To begin coin roll hunting, you’ll need to acquire rolls of coins. The most common source for obtaining these rolls is through local banks or credit unions. Visit multiple banks in your area to determine which ones don’t charge fees related to coin roll hunting, and then consider establishing two banking relationships: one as your “pickup bank” where you’ll order coins, and another as your “deposit bank” where you’ll return unwanted coins. You could even set up a standing order with your pickup bank for a specific number of coin boxes every week. Remember to be courteous and professional when dealing with bank staff so that they are more likely to accommodate your needs.
Tools and Supplies Needed
To get started with coin roll hunting, you’ll need some basic tools and supplies:
- Coin wrappers: Available at most banks, these allow you to re-roll the coins you don’t keep and easily return them to the bank.
- Coin roll opening device (optional): This can be something as simple as a butterknife or a more specialized tool designed for opening coin rolls without damaging the coins.
- A mat or towel: This provides a surface for sorting coins without scratching them.
- Magnifying glass or loupe: Useful for examining coins for errors or verifying dates.
- Gloves (optional): Some coin hunters prefer to wear gloves to protect the coins and keep their hands clean.
Organizing Your Finds
Once you’ve begun your coin roll hunting journey, you’ll want to keep your finds organized. Here are some suggestions for how to do this:
- Separate your coins by denomination (pennies, nickels, dimes, etc.) and then by date and mintmark.
- Keep valuable or rare coins in protective holders or containers, such as coin flips or tubes.
- Create a record of your finds, either on paper or digitally, including details such as date, mintmark, condition, and any interesting features or errors.
By following these steps, you’ll quickly be on your way to discovering the thrilling world of coin roll hunting and potentially uncovering valuable treasures hidden within everyday pocket change!
Finding Valuable Coins
Coin roll hunting is an exciting and potentially profitable way to find valuable coins in rolls from banks. In this section, we’ll discuss four types of valuable coins to look for: Silver Coins, Error Coins, Key Dates and Varieties, and Collectible and Rare Coins.
Silver coins are a favorite among coin collectors, as they often hold numismatic value beyond their face value. Some examples of silver coins to look for include:
- Dimes: Pre-1964 Roosevelt dimes and Mercury dimes contain 90% silver.
- Quarters: Pre-1965 Washington quarters also contain 90% silver.
- Half Dollars: Kennedy half dollars from 1964 are 90% silver, while those dated 1965-1970 are 40% silver. Walking Liberty and Franklin half dollars are also 90% silver.
- Nickels: During World War II, “War Nickels” were minted from 1942-1945, containing 35% silver.
Always check the coin’s date and mint mark to determine its silver content.
Error coins are unique and often highly sought after by collectors due to their rarity. Some common error coins include:
- Off-center strikes: Coins that were struck off-center or with a doubled die, resulting in a misaligned or doubled image.
- Clipped Planchets: Coins that were improperly cut from the metal strip, resulting in a missing section.
- Overdates: Coins with a date that appears to have been struck over another date, indicating a mistake at the mint.
Keep an eye out for any inconsistencies in coin designs, as they may indicate an error.
Key Dates and Varieties
Key date coins are specific dates or mint marks that are more scarce and valuable. Here are few examples of key date coins and variety coins:
- Wheat Cents: 1909-S VDB, 1914-D, and 1931-S are some of the key dates for wheat pennies.
- Jefferson Nickels: 1938-D and 1950-D are considered key dates in the series.
- Buffalo Nickels: 1913-D Type II, 1916/1916 Doubled Die Obverse, and 1918/7-D are examples of key dates and varieties to look for.
The key to identifying key date coins is to familiarize yourself with the specific dates and mint marks to search for in each coin series.
Collectible and Rare Coins
Apart from the silver, error, and key date coins, there are other collectible and rare coins that you may find while coin roll hunting, such as:
- Indian Head Cents: Minted from 1859 to 1909, they are a popular series sought by collectors.
- Proof Coins: Coins struck for collectors using a special process, resulting in a mirror-like finish, which can sometimes end up in circulation.
- Foreign Coins: These can occasionally be found in rolls and may hold numismatic value depending on their rarity and condition.
Be sure to use a guidebook or online resources to identify and assess the value of collectible and rare coins you come across.
Remember, patience and persistence are key when coin roll hunting. With time and experience, you’ll develop a keen eye for spotting these valuable treasures. Happy hunting!
Turning Coin Roll Hunting into Profit
Coin roll hunting (CRH) can be a fun and potentially profitable hobby for those willing to put in the time and effort. It involves searching through rolls of coins, looking for collectibles, rare coins, and coins with a higher metal value than their face value. In this section, we will explore how to determine the value of found coins, how to sell your finds, and tips for making money with coin roll hunting.
Determining Coin Value
To make a profit with coin roll hunting, it’s important to be able to accurately determine the value of the coins you find. Coin collectors, also known as numismatists, often use a variety of factors to assess a coin’s worth, such as rarity, condition, and demand. Some valuable pennies might be worth significantly more than their face value, while silver quarters could bring in a substantial premium over their metal value.
When determining coin value, it’s crucial to research and understand the circulation history, metal content, and other factors that contribute to a coin’s worth. The U.S. Mint and Coin World are two useful resources for gathering information on United States coins.
Selling Your Finds
Once you’ve determined the value of your coins, the next step is to sell them and turn your finds into profit. There are several ways to sell your coins, including:
- Online platforms: Websites such as eBay offer an easy-to-use platform for selling coins to a wide audience, potentially reaching more numismatist collectors and boosting demand for your discoveries.
- Auction houses: For particularly valuable or rare coins, it may be worthwhile to consider selling them through an auction house. While there may be fees associated with this method, you could see higher sale prices, especially if there is competition among collectors.
- Local coin shops: Connecting with local coin collectors and dealers can be an enjoyable and personal way to sell your finds. Local collectors may be more knowledgeable about the history of the coins you’re selling and could offer a fair price based on their expertise.
Tips for Making Money
To maximize your profits from coin roll hunting, keep these tips in mind:
- Patience: Coin roll hunting can be time-consuming, and it may take a while before you find valuable coins. Be prepared to patiently sift through many rolls before discovering a hidden gem.
- Metal detecting: In addition to searching coin rolls, metal detecting can be a valuable companion hobby to uncover hidden treasures, such as old coins discarded or lost throughout history.
- Know your copper prices: Since some coins you find may have a higher value based on their metal content, it’s important to keep an eye on copper prices to understand the current value of your discoveries.
- Watch for fees: When using online platforms or auction houses to sell your coins, be aware of any fees that may be associated with using their services and factor them into your selling decision.
By following these tips and dedicating time and effort to the hobby, coin roll hunting can potentially be a lucrative and enjoyable pastime for those interested in the world of coins and collectibles.
Additional Coin Roll Hunting Tips
In this section, we will explore additional tips to help you make the most of coin roll hunting, focusing on staying organized, building relationships with banks, and branching out into related hobbies.
Staying organized is crucial when coin roll hunting, primarily because you will need to keep track of several coin types, including copper, half-dollars, and commemorative coins. One popular method is to separate your coins by condition, noting rare and high-value coins separately.
Furthermore, having a “dump bank” can help you stay organized as well. This is a separate bank where you deposit coins you don’t plan to keep. By having a separate account at the dump bank, you avoid returning hunted coins to your pickup bank.
Building Relationships with Banks
Having good relationships with various banks is essential to successful coin roll hunting. You need to find banks that are not charging fees for the coin rolls you acquire. Additionally, consider placing a standing order for coin boxes, such as five boxes of half-dollars weekly, to ensure you have a continuous stream of coins to search.
Developing good rapport with your bank’s staff not only makes it easier to obtain coins but also helps them understand your goals, potentially yielding valuable information about rare or valuable coins.
Branching Out into Related Hobbies
Coin roll hunting is only one aspect of the broader treasure hunting world. Branching out into related hobbies, such as metal detecting, can increase your chances of discovering valuable finds.
Moreover, consider expanding your knowledge of coins by learning about junk silver coins and monitoring copper prices to inform your hunts. For example, when copper prices are high, finding old pennies with a high copper content can add value to your collection.
These additional hobbies not only improve your knowledge of coin roll hunting but also provide you with more opportunities to uncover different treasures. Be aware of the current market conditions and trends, such as demand for specific coin types, to optimize your treasure hunting endeavors.
- (https://marketrealist.com/consumer/what-is-coin-roll-hunting/) ↩
- (https://www.cnbc.com/2019/10/02/coin-roll-hunting-a-very-unusual-hobby-that-can-make-you-a-lot-of-money.html) ↩
- (https://metalpursuits.com/coin-roll-hunting/) ↩
- (https://americancoinstash.com/2020/12/28/is-coin-roll-hunting-profitable/) ↩