Whether you are a coin collector or not, you have probably wondered if you can make money by coin roll hunt. It sounds slowly on newspaper, just find a valuable coin and cash in on potentially thousands of dollars !
In reality, few people make money mint roll hunt. The good news, is that you can coin roll hunt without losing any money and increase your electric potential for making money.
First, know what to look for.
Each denomination has its own singular characteristics that add value. As you begin searching, you will have to at the like time increase your cognition of coins.
You can look for silver, errors, and low coinage numbers. Silver is easiest to learn, as you can normally go by the year. Quarters and dimes minted before 1965 are all 90 % silver. profit !
Errors are more difficult. Errors are price that happen while the coin is being minted. There is about never any extra respect added to coins damaged after they have left the mint. A flaw that the coin obtains after it has left the mint is called post-mint price, or PMD. Learning about the process of how coins are made will make it easier to know what kind of mistake you have .
low mintage coins can be in very high demand. You can make decent money by selling these coins on Ebay. To know what coins are low-mintage you can look at the coinage numbers online or use a book that tells you the coinage numbers. Remember, to check the mintage you need the coins year and where it was minted.
Reading: Is Coin Roll Hunting Profitable?
How to cut down costs.
You want to reduce costs so that even if you don ’ t find any valuable coins, you can return the coins to the savings bank for the same prize you got them for.
First, get your coins from the bank. It may be tempting to buy ‘ unsearched ’ mint rolls on Ebay, but this is the more expensive road. Sellers will charge you for shipping which is expensive, then they add a premium for calling the coil ‘ unsearched ’. It is very rare that the roll you buy off Ebay is actually un-searched, and even more rare that you will find anything valuable.
When you are done search, wrap the rolls yourself by hand to return them to the bank. You can get mint wrappers on Amazon in bulk for decent prices, or ask your banker for mint roll wrappers.
Coin Roll Wrappers: Pennies, Nickels, Dimes, and Quarters
If you are looking to make money off this hobby, I would not recommend using a CoinStar. Although CoinStar ’ s are convenient, they are identical expensive. If you do opt to use a CoinStar, convert the coins into a gift-card alternatively of cash to avoid the 11 % fee. You could besides donate the money to charity and use it as a tax write off .
Is it worth it to save copper pennies?
Read more: Gustave Courbet – Wikipedia
One way hunters try to make money is by saving all pre-1982 pennies. Pennies minted before 1982 are made of 95 % bull and entirely 5 % zinc. Depending on the price of bull, a penny could be worth more than a penny.
Although this sounds comfortable, there are many logistic problems.
You would need a set of pennies to make any money at the current price. As of nowadays, the best price for copper is about $ 2.75/lb. You would need 153 pennies to have a pound of copper. so, you would have a net income of about $ 1.22 cents per pound of pennies.
That means you would need about 82 pounds of pennies to make $ 100. If that sounds easy to you, besides consider that you would have to store and transport 82 pounds of pennies. ( Plus, 2.75 is for identical pure copper, you may get less for pennies unless you purify them yourself. )
If you believe strongly that copper prices will go up well, then hoard copper pennies. If it sounds like excessively much work then don ’ triiodothyronine lose any sleep over returning copper pennies to the bank .
But is Coin Roll Hunting Profitable?
In cosmopolitan, I would say it is not ampere profitable as most people hope. It does however, not cost anything when done correctly.
Most coins are only worth a few cents or dollars over face respect, scantily enough to cover the cost of selling. You could probably make more money flipping coins.
I love and wholly recommend coin roll hunt, but do it because you love coins, not to make a quick buck .
