As an avid roll searcher, I'm always looking for ways to find coins in circulation. At my local grocery store there's a CoinStar machine, and I always check the reject bin for treasures. Twice I've found 1943 steel cents - easy to see why the machine rejected it. However, if today there are still people bringing in coin hoards that contain steel cents, what else is probably in there? Silver? HOW do I get to these coins to sort through them?? Presumable, they are picked up by a coin service - Gardo, Dunbar, Brinks, Wells-Fargo, etc., who roll them and provide them to area member banks for re-distribution to the public. So, How can I track them down to their bank destination to get these rolls and search them? Kevin (eldeaco) ANA member # 175371
Exactly. Saw it on the history channel a few times. Coinstar has huge sorting centers. They take the boxes full of coins from the machines and take them to the centers where they are sorted by denomination and then repackaged. And yes I do believe they go back to banks and other companies like that. That I have no idea. They deal with soo many coins at once, (we're talking pallets upon pallets), that I wouldn't be surprised if they go all over the couintry.
There is no way to track the destination of these coins from the sorting and counting centers. It's a random distribution.
I wouldn't presume that the coinstar company and the re-roller companies don't know the current value of silver and have sorters that can tell the difference. I suspect that if I went through $10,000 of dime to half dollars, from such an operation that I would find much less than $ 1-10 dollars face of silver. It is too late in the roll searching game. Yes, sometimes surprises occur, but you could make that in less time washing auto windows at intersection stoplights, IMO. You are better off buying and searching rolls that have been turned into the bank by customers. Jim
I don't roll search ordered coins anymore. After 13 dry boxes of halves it just isn't worth it. I buy up all the loose halves I can find at banks and customer turned in rolls and just spend them around town.
I know that some banks will not take damages coins, that's because I don't roll them up, anybody know if I roll them up will than they will take it?
It depends on the bank. The banks with coin counters will just unroll them and try to run them in the counter. Damaged coin can cause jamming, missorting, or depending on the type of machine just be rejected and not counted. The ones that take rolls will usually get your name and account number so if there is a problem "ie" short count, slugs, foreign coin, it will be deducted from your account. Banks can ship damaged coin bank to the Federal Reserve, but they have to ship full bag quantities so it isn't worth it for the bank to keep it and balance it in their vault.
I know a man who works for the coin sorting house that receives these deliveries and then packages them up for disbursement to banks. He has shown me many finds from these cascades of coins.
You know I found two silver dimes and a few wheat cents in my sister pig bank. I have also found some mercs in the coin rejection box lately.
I have carried up to $600.00 of rolled changes to my bank. Their only prerequisite is that I keep an account with them. They don’t re-count the rolls I bring them.
I know for sure coinstar also rejects silver coins, I don't know about the other machine service but I've found silver in the reject tray on the machine in my area and I'd suspect you aren't missing anything that's there to find.
