Coin Roll Hunting

[jmrdrgz]

Previous post was before I read that the specific wheat penny was worth so much. Either way theliklyhood of us getting so lucky is worse than trying to win the lotto. Its a good fun hobby and you might make a little extra money, but don't let that distract you from the other stuff I wrote. I still stand by what I wrote earlier.

[mitunnelrat]

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.

There are many viable scenarios where the shit has definitely hit the fan, yet has not collapsed our economy, or we could use this for non emergency prep use... For example: job loss. That is a personal crisis that could be partially mitigated through the selling of "junk" coins for FRN's. Or, you could find the coins at face value cost and sell them at a profit to another collector to bolster prep funds. Or, you could set up a barter economy with willing locals to stretch your FRN's out further. Aside from that, its just plain fun to score an old coin sometimes! They're good for morale, welfare, and recreation right now today!

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.

I'm finding that a great many people are aware Pre-65 quarters and dimes contain silver, but do you think the average joe understands/knows the value of that metal, whether its in a quarter or a silver coin? Aside from the other collector's I know, the answer has so far been "no". I think it kinda shoots the idea of viable barter with either medium (at least to with the average joe) all to hell when you consider that.

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.

That standard is already in place, and I'm willing to bet it will hold for more scenarios than not.

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... ...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.

Excellent! I'm glad you've got you're needs well in hand! Is there any chance I can cajole you into discussing those food or equipment preps in the food and equipment forums? We could use the uptick in content and I have a feeling you'll get a much better user response when discussing them in their relevant sections than you will in discussing them in Money Matters. Btw, your inflation position and its impact on goods has definite merit. Do you have any examples you'd be willing to discuss on a thread dedicated to the subject here? I might be willing to put in a little time to research food speculation and inflation to start such a thread off. This just made me wonder if we could illuminate sustained trends that could help people determine when in their life they might have the best buying power for non-essential items, and make us all more effecient in stretching out our prep funds... Hope that last part made sense.

[Sniper-T]

I 'collect' coins too. always throwing my change into a bucket, when the bucket gets full, I sort it and stow it away. cheap inexpensive hobby, and I'm saving up to buy something impractical for me. Like this, it is essentially free money, as I don't miss it day to day, or week to week.

I also sort out and save any silver ones... and unfortunately just learnt about the wheat pennies a few minutes ago, so I'll have to re-visit the penny piles.

I buy silver maples when I have a little disposible income, but put the bulk of my time, money and effort into the 'hard' staples of prepping. food, water, power.

But... this is just me...

[Sniper-T]

*bump*

how is everyone making out with this? any big finds?

[ladyhk13]

We do the same thing and usually have enough money each year to take a vacation. The wheat pennies and old dimes/nickels are an added bonus for us.
Our bank teller said that the best place to find the older coins is at the more established banks. Our bank is fairly new so they really don't have a lot of old rolled coins but the old banks actually have a lot of that stuff in the vaults. Go buy it at those banks and then cash them in or deposit them at your bank.

[mitunnelrat]

I've haven't gotten anything for quite some time, but I also haven't been buying any rolls since I moved outside city limits.

[Sniper-T]

interesting thought LH... next time I talk to my bank guy... I'll ask about that!

[Onestep]

I haven't got the rolls in awhile myself but have found silver dimes and quarters (although rarely) and wheat pennies.

[Stormfeather]

Got 4 rolls of quarters yesterday, lots of 1965-1969, got 3 pre-64, so was happy overall.

[ak474u]

I found a 1914 penny and a 1963 dime on the ground in the woods the other day when my son and I were walking the trails of the nature preserve near our house. It was 2 days after a really hard rain, so they must've been exposed because they were right in the middle of the trail.