Coin Roll Hunting

[mitunnelrat]

Anybody have any luck or time to search? I just got 8 silver dimes out of a roll yesterday, 3 of them were the mercury dimes. Total profit: $21.00

[RedJohn]

Anybody have any luck or time to search? I just got 8 silver dimes out of a roll yesterday, 3 of them were the mercury dimes. Total profit: $21.00

I am not stateside at this time, but I will as soon as I come back

[bacpacker]

Good Job MI. I haven't had time to try this out yet. But I do look forward to giving it a try. I have been collecting coins since I was a kid (my grandma got me started) and have had tons of fun over the years looking for stuff.

[LUNCHBOX]

The last couple paydays I have went and bought quarter and dime rolls from the bank and it has sucked. The bank is now using clear plastic tubes and it makes me think that whoever supplies the rolls is doing this so they can see right off if there is any silver. The last time when the teller placed them on the counter I just said I changed my mind. (I could see it was a wash right off)

[mitunnelrat]

That would suck. So far I've just had to ensure I've rotated among branches to avoid getting rolls handed to me more than once from lack of circulation. I'd hate to encounter what you've described!

[LUNCHBOX]

I don't really collect coins....just some silver stuff. What is the big deal with wheat pennies?

[mitunnelrat]

The champion as of 04/2009 is a 1909-S VDB penny. Numismedia lists a fair market value of $78,000 for the finest known specimen, as of 04/2009.

"VDB" are the initials of the designer, Victor David Brenner. Only 484,000 of these coins were minted with his monogram before a somewhat inexplicable public outcry over his "egotism" forced the Mint to redesign the coin without the initials.

Read more: Answers.com - What is the rarest us wheat penny

That one is the biggest deal for wheat pennies.

[LUNCHBOX]

Thanks T-rat, now I have to start looking at wheat pennies and prep.

[mitunnelrat]

You're welcome. Our discussion here has me more than ready to hit the bank again tomorrow. I've been slacking on this, and I'm not even sure why.

[jmrdrgz]

Don't mean to sound bad when I ask this, but what is the whole reason behind collecting coins? Granted, I understand that there is a higher value for them. I myself have some gold and silver stocked up so that I can preserve wealth. When I bought, I decided it would be good because of inflation and all that. I realized some time later that is all its worth for. In a shtf, I don't think gold and silver would have as much value. The only time it will would be as long as there is some type of economic structure. Now I am considering this scenario with recognizable gold and silver coins and bars. Imagine trying to trade these common looking coins that you are collecting. Do you think the average joe knows the difference between a collector quarter and a regular one. I bet they would know the difference between a quarter and a silver coin. In a shtf scenario do you think someone might trade silver for food let's say. Maybe or maybe not. Depends if the community decides to make it a standard. Since most people don't own precious metals, most likely there won't be such a standard.

Now with all that said, collecting coins and metals is not a bad idea for protecting oneself against inflation. Now personally I prefer precious metals because it is a universal thing. Meaning that it is not a single country's denomination. It might be certified by a country but it is not it's denomination. Where I think this can come in handy would be, God forbid, another country takes over ours or our system gets thrown out (like in Iraq wherethe money denomination changed). I would ratherhave standard gold and silver which is recognized easily everywhere to exchange then a valuable quarter. Granted you can melt it down but who will certify the silver content.

After all this writing, I have decided that for me, the best thing would be to invest in long term or usefull items. Examples are: storable foods, ammo, solar generator or other type (solar allows no need to store fuel but has its cons), fuel, camping equipment, etc.

My advice would be to continue to collect as its a good hobby for some but try to take care of the long term items as your number 1 priority. At the end of it all, let's say when shtf tomorrow and no one wants to trade their food for your gold, silver, or coins you definatly will not be able to eat those but food you stored years ago you will be able to.

One last thing about sme types of long term equipment I mentioned before. Don't forget, it might cost you so much now but in the future it will cost much more du to inflation and demand. This to me is just as good or better than investing in gold itself.