fiatboy
Bronze Member
- Jan 28, 2007
- 1,305
- 11
I went to my local coin shop today and talked to the owner about coin roll hunting. This guy probably started selling coins before the Mint switched to clad. Here's never ripped me off, and over the years I've really come to value his opinions. His entire family, including his grandchildren, are in the precious metals business in some capacity or another. I have no reason to doubt what he told me. Here's the gist of it:
The guys that work for the armored car companies (Brinks, etc.) cherrypick the best coins when they're wrapping them. They throw the keepers into a big bucket, and then at the end of the year, the whole crew divide up what's in the bucket and split it evenly. It's their Christman bonus to themselves, and they use the profits, usually thousands of dollars each, to buy gifts, go on vacation, etc. Sometimes, they don't have time to cherrypick, but most of the time they do. But they only do so around those whom they trust. If outsiders are watching, they pretend to have no interest in the numismatic or bullion value of the coins. Halves are their favorite, of course.
The owner of the coin shop says he's friends with one of the Brinks guys, and every year, all the Brinks guys bring in their haul. I asked him why coin roll hunters still find silver if the armored car guys get to it first, and he explained that they sometimes don't catch everything, nor do they want to. They try to leave some silver, so coin roll hunters continue to hunt, which, as long as we keep ordering boxes, keeps them in business, because they have to ship the coins. But they usually pull the best ones (yes, Barbers are among those pulled). He said it's like a cycle, and the armored car guys need us, but they don't like for us to know about them, or we might order fewer boxes knowing that we might (no guarantee) have better luck just sorting bags or bank- or customer-wrapped rolls.
I cannot verify any of this, but I thought you'd like to know.
The guys that work for the armored car companies (Brinks, etc.) cherrypick the best coins when they're wrapping them. They throw the keepers into a big bucket, and then at the end of the year, the whole crew divide up what's in the bucket and split it evenly. It's their Christman bonus to themselves, and they use the profits, usually thousands of dollars each, to buy gifts, go on vacation, etc. Sometimes, they don't have time to cherrypick, but most of the time they do. But they only do so around those whom they trust. If outsiders are watching, they pretend to have no interest in the numismatic or bullion value of the coins. Halves are their favorite, of course.
The owner of the coin shop says he's friends with one of the Brinks guys, and every year, all the Brinks guys bring in their haul. I asked him why coin roll hunters still find silver if the armored car guys get to it first, and he explained that they sometimes don't catch everything, nor do they want to. They try to leave some silver, so coin roll hunters continue to hunt, which, as long as we keep ordering boxes, keeps them in business, because they have to ship the coins. But they usually pull the best ones (yes, Barbers are among those pulled). He said it's like a cycle, and the armored car guys need us, but they don't like for us to know about them, or we might order fewer boxes knowing that we might (no guarantee) have better luck just sorting bags or bank- or customer-wrapped rolls.
I cannot verify any of this, but I thought you'd like to know.
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. It really does make a difference. If your fishing in one spot day after day and catch nothing. Lift anchor and move!
