Storing coins

[DesertTumbleweed402]

I was wondering how everyone here stores their coins depending on what denomination.

 

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[packerbacker]

I only deal with halves. I roll the 90% and 40% in separate rolls. When I get $1,000 or more worth of the 40%ers (about 20 rolls or $200 face value right now) I trade them at the coin shop and buy .999 silver bars and rounds. The 90%ers I just keep rolled up and stashed in a safe. The reason I wait 'til I have $1,000 or more worth before taking them in is, if you buy $1,000 or more in bullion, you don't pay any tax on it.

 

[jewelerdave]

Dimes and nickels quarters, since I dont find many of them, I just put them in plastic tubes and keep them.

The halves, I do the same with until I run out of tubes, When it gets to be more than $250 face, I bag it. When I get a few bags and the amount is more of a liability and space taker, I send them in for melt, and make them someone else's storage problem, then put the money back into the business fund, and repeat.

 

[jrf30]

<<The reason I wait 'til I have $1,000 or more worth before taking them in is, if you buy $1,000 or more in bullion, you don't pay any tax on it.>>

really? Is that everywhere? Why $1,000??

 

[packerbacker]

Not sure if it's state or Federal.....I heard it was to encourage purchase of bullion. Don't know why they would want that either.

 

[RON (PA)]

I use the hard plastic 2 x 2 inch squares to hold my coins. So far it is working out pretty good.

 

[DesertTumbleweed402]

I keep my silver coins intact. Sorry jewlerdave, but I find it crazy to melt down all of that history.