Coin roll hunting

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An example of a potential find in 'CRH': A silver Canadian dime, found in a box of forty dollars worth of American dimes

Coin roll hunting (often abbreviated as CRH) is the hobby of searching and sorting coinage pulled from circulation for

misprints
.

Coin roll hunting in the United States

Bank boxes of assorted denominations of coins commonly searched through when coin roll hunting

In the

dollar coins
, most commonly through withdrawing an amount of money from a bank account in the denomination desired.

Prime targets of American coin roll hunters are silver dimes, quarters, and halves prior to 1965, and 40% silver half dollars from 1965–1970.

error coins that have defects from the minting process, such as doubled dies, coins struck with wrong planchets, and coins struck off center, etc. These coins can be worth more than face value to collectors, with some, such as the 1955 doubled die cent
potentially worth thousands of dollars.

Coin roll hunting in Canada

In Canada, coin roll hunters obtain rolls of nickels, and sometimes dimes and quarters.

Dimes and quarters didn't have high mint numbers until silver was discontinued in 1964. After 1964, coins were minted in very high numbers, making silver coins uncommon, plus the introduction of silver-rejecting bank machines took many silver coins out of circulation. This all made silver too hard to find for coin roll hunters, so they primarily searched for 1922-1964 nickels for their numismatic value and 1965-1981 Nickels for their metal value, which slightly exceeds their face value. Pre-1997[4] pennies were also pulled out of circulation due to their copper high metal value prior to the removal of pennies from circulation in 2013.[5] Other roll hunters attempt to build sets of special quarters, loonies, and toonies.

Coin roll hunting in Australia

In Australia, coin roll hunting is often referred to as "noodling" and coin roll hunters often withdraw or exchange 50 cents, 1 dollar or 2 dollar coins as they have the most variety and $1 and $2 coins may consist of coloured coins.

Australia's coin roll hunting usually consists of newer coins of 1966 or later as Australia decimalised its currency in 1966

copper-nickel.[7]
These original 1966 50c coins are now extremely rare to find in circulation and in coin rolls.

$1 and $2 coins were introduced in 1984 and 1988 respectively, so there are more newer coins. There is a misconception that in 1988 and 1989, $2 coins with "

Aborigine.[8]

Merits as a means of making money

It is not uncommon for coin roll hunters to search through multiple boxes of coins only to find nothing of value.[9] The amount of silver left in circulation is constantly dwindling, ironically exacerbated by collectors finding and removing circulating silver from the rolls they hunt. The expected return from coin roll hunting varies based on the searched denomination. US quarters and dimes tend to produce the worst as most silver from these denominations has already been pulled from circulation. Cents provide the best returns when collecting pre-1982 copper cents, with the typical cent roll producing around 20% copper to 80% zinc cents.[10] However, the amount of profit from searching cents is much lower due to the lower face value of the coin.

In the United States, it is illegal to melt down cents and nickels, so they cannot be legally redeemed for their metal content.[11]

See also

References

  1. ^ Ryan, Christopher (10 February 2019). "Inside The World of Coin Roll Hunting". medium.com. Retrieved 8 September 2020.
  2. ^ McMorrow-Hernandez, Joshua (23 January 2017). "The Epic $100 Nickel Roll Search". CoinWeek.com. CoinWeek, LLC. Retrieved 8 September 2020.
  3. ^ "Coin collecting by the roll". littletoncoin.com. Littleton Coin Company, Inc. 14 July 2016. Retrieved 9 September 2020.
  4. ^ "1 cent coins | the Royal Canadian Mint".
  5. ^ "Eliminating the Penny". 29 March 2012. Archived from the original on 2012-04-18. Retrieved July 19, 2012.
  6. ^ "Before decimal currency – what did Australia use" (PDF). Royal Australian Mint. Retrieved 5 March 2024.
  7. ^ "Fifty Cents - Royal Australian Mint". Royal Australian Mint. Retrieved 5 March 2024.
  8. ^ "Two Dollars - Royal Australian Mint". Royal Australian Mint. Retrieved 5 March 2024.
  9. ^ Zetlin, Minda (2 October 2019). "People have been making up to $100,000 off 'coin hunting'—here's how the highly unusual hobby works". CNBC. Retrieved 3 January 2024.
  10. ^ "Pennies in Circulation" (PDF). Archived from the original (PDF) on 2013-02-15. Retrieved February 23, 2013.
  11. ^ Penny Hoarders Hope For The Day The Penny Dies : NPR
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