Success rate?
Riker
Posts: 2 ✭
I would like to know the general success rate of finding a valued coin when getting rolls from a bank or other sources?
This is probably a common question but I have not been able to find content on it. I realize that what I am looking for and the area effect success rate, but if I could get a general estimate I would be grateful.
I am thing about starting with 90%, 40%, and 35% silver:
Nickels 42-45
Dimes 46-64
Quarters 32-64
Half dollars 64-70, bank doesn’t carry these?
Thanks in advance
Riker in Arizona
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Comments
Obviously, there will be some rolls stolen from grandpa's stash that will be largely or mostly silver and other rolls deposited without thought after grandma dies, but in general the "success rate" you are looking at will be extremely low and essentially zero percent.
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I normally find one within 10 bank boxes each. Nickle has a better rate since most people didn't bother to search for them.
Tom is generally correct. I would add that your best bet by far is with half dollars. I have had good luck with individual half rolls. A few have been all silver and others have averaged maybe 1 or 2 40% coins per roll. The big boxes of 1000 coins are not as fruitful.
I think you would be better off in searching for die varieties instead of silver. Well, technically you would be doing both. Buy the Cherrypicker's Guide to Rare Die Varieties that corresponds with your coins you will search (ie. Quarters, Halves, etc.)
You will greatly increase your chances of finding something valuable, and it can be a lot of fun, too.
You never know what you'll find next
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"Coin collecting for outcasts..."
@Riker....Welcome aboard.....I have searched rolls of half dollars on and off for years and I have found exactly ONE WLH.... and no silver (or 40%) Kennedy's. Now, full disclosure... I searched maybe 40 - 50 rolls a year. Some here search hundreds and have had far greater success (though, percentage wise, it may not be that much different). TomB's assessment is accurate. Searching for varieties may be more productive as indicated above. Cheers, RickO
Frankly, these days you stand a better chance of finding silver coins in the reject bin at your local CoinStar machines.
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I occasionally search rolls for errors. But .....
It has to be a minimum of one box of 50 BU unsearched rolls all the same date MM..
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Diligently check Coinstar and any machines at local banks. Also, ask for loose half dollars at the teller windows, and ask for CWRs (customer wrapped rolls) of quarters or dimes. I think you would stand a far better chance of finding silver this way.
I search boxes of nickels. My most recent box yielded four silver war nickels (that is high, and I am usually glad to get even one), a dateless Buffalo nickel (I often find one or two per box, sometimes in nice shape with dates), and two 1938 Jeffersons. There were maybe a dozen from the 40s and 50s. I almost never find any errors, but the one I did find was a rarer-than-rare coin struck twice, once in 2015 and again in 2016.
@Riker said:
Welcome to the forum! Thank you for the post...
I'll wait to see more response before I start getting rolls from my local banks
If you are looking for silver, then you are looking for the wrong thing IMO.
Just do it you never know. Have fun and Welcome.
Hoard the keys.
I think @FadeToBlack has the most roll searching experience around here, he will probably have good numbers for you.
In my limited experience I've probably averaged about 2 40% halves per box of $500. A lot of them have none, some will have several to many. Best box I went through had I think 19 in it.
Collector, occasional seller
Thanks to everyone for the replies to this thread, it has help me get a better understanding.
I searched around and ended up buying the 2019 Official Red Book of United States Coins. Could you tell me if Cherrypicker's Guide to Rare Die Varieties is a better purchase or if there is something in it that the red book does not offer.
Thanks
Thanks for the stats, long term results give a better idea of what may be encountered
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From what I understand when it come to the Banks and silver content, you will need to develop a relationship with one or more tellers. The Tellers will generally set aside anything they believe to be worthwhile. They are usually able to tell by the rolls. For more modern coins, you will be looking for the error or MS coins so I have no thoughts on that.
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Good luck with your searches.
Donato
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You might also consider metal detecting, especially if you live near some older sites. The odds are poor, but at least you'll get some fresh air and exercise, travel to some neat places. I've seen some very valuable colonials auctioned off that were found by detectorists. You wont find those at the bank.
Using Fade To Blacks numbers and rounding them out, here are the percentages of finding.................
Nickels 42-45 - 0 percent
Dimes 46-64 - 0 percent
Quarters 32-64 - 0 percent
Half dollars 64-70, bank doesn’t carry these? - 0 percent
your success rate would of been pretty high 50 years ago
Not really answering your question but related. I've found that about 10% of the cents in circulation are pre-1982 copper cents. And that the number varies a lot depending on where you are in America.
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