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Devices that will separate silver coins from clad

logger7logger7 Posts: 8,571 ✭✭✭✭✭
in Precious Metals

I was talking to a guy at a shop today who said that said his friend invented a device that will separate silver coins from clad; he gets large amounts in bulk and is able to make a lot of money doing this. Why aren't banks and other money handlers doing this already?

Comments

  • meluaufeetmeluaufeet Posts: 764 ✭✭✭

    Search youtube for copper silver coin sorters.

  • Mission16Mission16 Posts: 1,413 ✭✭✭

    I used to work in bookkeeping in a retail store. The coin counter would reject silver coins.

  • blitzdudeblitzdude Posts: 5,971 ✭✭✭✭✭

    coinstar separates it, as does all the coin sorters used by banks due to different weights of silver / clad.

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™

  • logger7logger7 Posts: 8,571 ✭✭✭✭✭

    It was easy back in the 60's; old man Sam Sloat bought war nickels in large quantity from the banks and was able to make big money on the premiums.

    It's hard to believe that any entity with quantity, banks, vendors, Coin Star doesn't have a system to separate the premium coins and turn around and sell them for top dollar.

  • blitzdudeblitzdude Posts: 5,971 ✭✭✭✭✭

    @logger7 said:
    It was easy back in the 60's; old man Sam Sloat bought war nickels in large quantity from the banks and was able to make big money on the premiums.

    It's hard to believe that any entity with quantity, banks, vendors, Coin Star doesn't have a system to separate the premium coins and turn around and sell them for top dollar.

    Most of the big banks don't even have coin sorters. They send them off to Brinks who sorts/rolls them and sends back a receipt to the bank with the amount of coins counted. I can guarantee you with 100% certainty you will NEVER find a silver coin in a Brinks wrapped roll.

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    @blitzdude said:

    @logger7 said:
    It was easy back in the 60's; old man Sam Sloat bought war nickels in large quantity from the banks and was able to make big money on the premiums.

    It's hard to believe that any entity with quantity, banks, vendors, Coin Star doesn't have a system to separate the premium coins and turn around and sell them for top dollar.

    Most of the big banks don't even have coin sorters. They send them off to Brinks who sorts/rolls them and sends back a receipt to the bank with the amount of coins counted. I can guarantee you with 100% certainty you will NEVER find a silver coin in a Brinks wrapped roll.

    I don't believe that . I used to search rolls all the time and found stuff in brinks rolls. I never bought dime or quarter rolls but when I bought nickle rolls I found plenty of war nickles . For that matter I found foreign coins in the rolls and dimes in penny rolls now and then too.

  • blitzdudeblitzdude Posts: 5,971 ✭✭✭✭✭

    How long ago was that? I'm guessing that was not recently?

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    well I gave up on pennies 2 years ago when I needed glasses to read the dates :D . I guess I gave up on nickles about the same time?
    Around 2008 I was actively searching halfs and pulled hundreds of dollars in 90% silver and 40% silver out but that was probably before they were mining those which I imagine would have started around 2010 or 2011

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I have found a Walker in a roll of halves... last year.... However, I have searched hundreds of rolls and prior to that, never even found a 40% Kennedy.... Cheers, RickO

  • cohodkcohodk Posts: 19,188 ✭✭✭✭✭

    Fingers?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • bronco2078bronco2078 Posts: 10,244 ✭✭✭✭✭

    @cohodk said:
    Fingers?

    Ears ?

  • derrybderryb Posts: 36,949 ✭✭✭✭✭

    Eyes?

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • ShadyDaveShadyDave Posts: 2,201 ✭✭✭✭✭

    A "ryedale sorter" is what I believe you're looking for.

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