Modern USA coin hunting 1 1

[Rob’s Coins]

I have another learning question.   If you were hunting standard pristine USA coins… pennys, dimes, nickels, quarters, MS not proof.  How would you get your stock?   You can buy uncirculated sets from the mint. You can buy some denominations in rolls and bags from the mint. Is going to the bank and getting new mint rolls a thing?  I think I’ve heard this from a former bank teller friend.  If so, is there a time that you go or do you have a contact at a bank that helps.  Is it worth the effort since it seems the coin wrapper machine can mess some up.  Give a newbie some tips.

Edited January 7 by Rob75B11

[Sandon]

    I have never obtained bank rolls just to look for coins but have obtained some current year coins from pieces received in change over the years, going back to the mid 1970s.  When a cashier hands you a coin just taken from a roll of new coins, it is still in "uncirculated" condition. (One of the things you must learn is how to distinguish between an uncirculated coin and an "AU" that exhibits high point wear.) It is important to place such a coin in your wallet, not your pocket, rinse it off with cool tap water when you get home, pat (don't rub) it dry with a clean tissue, and after a period of further air drying put it in proper storage, such as in a coin album or a plastic holder or tube.  Try to select pieces with minimal abrasions and good strikes, which may be difficult to find because nowadays coins are packed into and transported in large plastic bags containing thousands of pieces before being rolled.

    Depending on your location, the "new" coins you find, even from rolls, will be predominantly from one mint or the other, and you may be unable to find decent examples of many issues. You will have to buy at least some from coin dealers or obtain mint sets. 
 

[Halbrook Family]

Best advice I ever got was from VKurtB to look at the rim of the coin. I thought I had some nice nickels and then he told me to look at rim and they were not so nice anymore. 

[J P M]

On 1/7/2024 at 11:40 AM, edhalbrook said:

Best advice I ever got was from VKurtB to look at the rim of the coin. I thought I had some nice nickels and then he told me to look at rim and they were not so nice anymore. 

I think it was my suggestion to check the rims.

I do get regular rolls from my bank but that is after many years of doing business with the same two bank branches. All the bank people know me, so I exchange rolls on weekly basis. 

Edited January 7 by J P M

[Halbrook Family]

Thank you so much for that. That was some great suggestion. I never looked at the rim before. Really noticeable on nickels. 

[powermad5000]

For moderns, "pristine" is MS 68. MS 67 is good, but it won't be worth premium until it gets to MS 68. You MIGHT get lucky enough to get an MS 67 in cash register change, but I highly doubt MS 68 in regular everyday transactions. The rim is not the only thing you need to look at, but it absolutely cannot be overlooked. Any rim nicks = 66 and lower. The best I have done since about 1990 in getting great samples out of cash register change was a Roosy that graded MS 67 FT PL. It took me about 25 years to get that. Typically, "nice looking" is going to get you MS 66 and there are plenty of those to go around. It really depends on your version of pristine. The 66's look nice, but they still aren't worth any premium.

99.5% of what I get out of the cash register goes right back into circulation. I use a 10X either magnifier or loupe (depends on what my eye likes that day).

Basically if you find even only one ding whether on the rim or either side will get you an MS 65.

No dings, marks, nicks, scrapes, etc. that you can readily see will get you an MS 66.

Once you have looked at enough of these that would be 66 (by this I mean thousands),when you see a really good strike and no hits, dings, scrapes, or marks, you could get a 67.

To get 68, it will look different once again. You will notice sharpness of the strike that is lacking on all other examples. The surface will seem unworldly. This is what I consider pristine.

Both sides and the rim need to be considered. Weak strikes with weak lettering or weak design elements will never get you an MS 67 on moderns.

When looking at modern Lincoln Shield Cents, many times both sides of the coin are fantastic but Lincoln's head has a less than good strike. These usually nick in the fields and on Lincoln's bust on the obverse and inside the shield on the reverse. Also on the reverse, ONE CENT in the ribbon and the STATES OF in the motto can have bad or weak strikes where the letters look like they were rubbed with sandpaper or the letters look very weak. Then check the rims.

Nickels are all about the rims and the portrait of Jefferson. Start with Jefferson's face. Typically the nose, chin, and forehead get hits first. Usually on a nickel, you won't make it past the face. Next, check the steps on Monticello. Basically if you don't have 6FS on these modern nickels, then you just have a nickel. Then check the rest of the Monticello as the building typically takes a hit or two. Then go to the fields and make sure there are no marks in them. Then, If you get past all those, carefully check the rims. You usually will find a ding on either side somewhere.

On Roosy's, first establish that it has a full torch. Next go to the head on the obverse. Typically there is either a weak strike in the hair or there is a ding in the hair. Then go to the cheek and neck. Those typically have a ding or scratch. Once the torch has no hits and the face and hair are good, start checking the fields. If the fields all look good, make sure to check the rest of the details as dimes are small and small hits and scratches can hide in the details. If all this looks good, make sure the rims have no hits or chips out of them.

For quarters, the process is the same but they have more surface area so it is easier for them to get marked up. Basically go right to the high points of the designs on quarters to start looking for scratches and hits. It is also harder to find clear fields on quarters due to the larger surface area.

If you find anything pre 2005 and for sure pre 2000 in change that seems perfect, it will be an anomaly. It will have been circulating nearly 20 years. For cents, you will still find some with red or mostly red, but typically if you look at these, they will be AU sliders or really low MS. Look right at the steps on the memorial on the reverse and I bet they blend together in some spots. Yea, they look alright, but they are far from perfect.

Not sure if you are trying for registry level sets here, but MS 68 will be hard to find and pretty expensive and usually slabbed.

Hope these tips help!

Edited January 7 by powermad5000

[Rob’s Coins]

Thank you powermad!  
I wanted a quick gut check because I was in an antique store and saw a book of 1950’s- 200x penny’s…. You know the book I’m talking about.  Full, not a spot missing.  From 3ft away through the cabinet glass all were red / slightly turning.  I thought it was pretty cool.   Price —> $15.   Just don’t want to be the guy putting coins in holes for 40 years and have $15 to show for it.   Thanks!  

[powermad5000]

From what you describe, I would say $15 for that many coins in pretty good shape with some red color would be a good price for the entire album.

[J P M]

I would pay 15 the folder is almost $6

[Halbrook Family]

Try finding one that runs from 1909 - 1940's. If it's full and all look mint the price will make you cry. 

[EagleRJO]

On 1/7/2024 at 9:00 AM, Rob75B11 said:

If you were hunting standard pristine USA coins… pennys, dimes, nickels, quarters, MS not proof.  How would you get your stock?   You can buy uncirculated sets from the mint. You can buy some denominations in rolls and bags from the mint. Is going to the bank and getting new mint rolls a thing?

For modern coins I would just get rolls from the bank to go through.  I have been doing that for quite a while and just ask for rolls when I am at a bank getting some cash, and return rolls I have gone through the next time I am there.

If you have a local bank you go to regularly talk to the tellers and let them know you are a coin collector and that you go through rolls looking for particular coins.  There are even some members, like @J P M , that have become friendly enough with certain tellers such that they put aside unusual looking coins for them.