Time To Clean Your Coins And Cash In!

[Againstmywill]

https://amp.jsonline.com/amp/5458324002

If you live close to Milwaukee, or maybe other places throughout the country, you may be able to make a 5% premium for cashing in your coins!

[Againstmywill]

Armadillo bank in Texas is paying 10% over what change you bring in between now and September 1.

https://gvwire.com/2020/07/15/as-coin-shortage-persists-some-banks-pay-a-bounty-for-small-change/

[GB_Amateur]

Pretty amazing.  Savings accounts (and even Certificates of Deposit) are paying less than 1% annualized.  Still has to be worth the drive, and even Milwaukee is ~7 hours from me.  Maybe this will catch on and banks near me will play copycat.

🤞

[kac]

I have about 40lbs of clad, half of it is nickels, dimes and quarters. Need to check and see if they are paying above face value here.

Imagine a Zincoln worth $.011 GB? hahaha

[Againstmywill]

I'm holding out hope here in FL as well. I bet I've got at least $400 stashed in these containers. (Edited: I split up the large container and filled 2 more of the smaller containers. Each contain a little over 13 lbs. of coins. So, I guess I have over 50 lbs. total.)

This shortage might free up some good finds for people who search rolled coins for silvers once the supply returns. With so many people bringing in coins, there are bound to be good coins accidentally included by some people.

[GB_Amateur]

1 hour ago, kac said:

Imagine a Zincoln worth $.011 GB? hahaha

Yeh, right.  I'm sure if I showed up with corroded Zincolns they would change the rules.  I also wonder if they'll pay 10% premium on (unpopular) halves and dollars.

More realistic question -- how regognizable do coins need to be?  I wash off the dirt but all my nickel alloy coins (specifically all nickels, dimes, and quarters) require a second look to be verified as legit.  I don't have a tumbler, although a premium 10% on my 'junk' coin finds would make a nice dent into a new (small sized) quality model.

AFAIC, Zincolns are zinc scrap, awaiting the day that zinc goes back to where it was a couple decades(?) ago.  I recall uncorroded Zincolns having about double face value at one time.  Throw in the fact that it's 'technically' illegal to melt them....  Guess there are better things to wish for (Genie only grants you three, right?).

[Againstmywill]

I have not tried this online coin value calculator yet, but it looks to be at least a way to get a good estimate. http://www.coincalc.com/

[Steve Herschbach]

I like the Coinstar machines in trade at 100% for an Amazon credit simply because I can take a bucket full and dump it in. The machine does the sorting and spits out the rejects, and nobody giving me the evil eye over dirty coins. It’s about time for a trip to the nearest one in fact.

[Againstmywill]

I usually do that as well, Steve. The unfortunate part is that our children end up using the credit "accidentally," and before I know it, it is gone!

If our banks get to offering 10% more around here, I will likely be moved to clean the coins as much as I can and cash them in.

I tried the coin calculator and the average of my samples gave me an overall amount of $692 for 52 lbs. of coins.

[Optix]

Do you use a tumbler to clean your clad, or is it unnecessary?