I’m really into coin roll hunting. It’s by far one of my
favorite hobbies and I definitely enjoy blogging about it and sharing the secret with you all. I’m also pretty active
on a number of forums that cover the topic and it seems that I’m always at odds
with people that claim that coin roll hunting isn’t worth the time it takes to
do, you can't make money coin roll hunting, and it certainly can’t be profitable. This pot was only further stirred by my blog post
on here entitled “
Is Coin Roll Hunting Worth It?”, which caused a lot of
readers to reach out to me on the many forums with challenges. Even today I
was pulled into a discussion where the profitability of coin roll hunting was attacked. To put it bluntly, those who are not profiting are just not doing
it right. So, I’m determined to present my model for coin roll
hunting, which works for me and may work for many of you. It also won’t work
for many of you. That’s the luck with this sort of thing, and without moving or
dedicating a prohibitive amount of time there’s actually nothing you can do.
 |
| Get it? This about change! |
1. Location, Location,
Location!
First, let me talk a little bit about where I live which
probably the single biggest factor contributing to the profitability of my coin roll
hunting and ultimately how this is all able to make money. I live in a moderately-sized urban city. We have professional sports
teams. We have a pretty strong dedication to tourism. We have skyscraper
corporate bank locations.We also have a large older population of people, many immigrants, who
worked their way up in the world and are now passing their estates onto the
next generation. Sure, all of these things may contribute to better finds which
certainly leads to better profitability, but
the single biggest key to success based on location is the
infrastructure that all of this commerce necessitates in the community. There has to be enough businesses and storefronts to support of all of these people and that means that people need to make change.
There are probably between 50 and 60 bank branches that are
within a comfortable walking distance of where I live and where I work. I do
all of my coin roll hunting activities on foot by walking to branches that are
conveniently located to wherever I am at the time. I never have to drive to any
of my banks and this really cuts down on the main cost that a coin roll hunter
will bear from their hobby. If I have a particularly heavy load to drop, I just make the 4 minute walk multiple times in the same day. If one teller seems tired of me that day, I just move onto another branch. Simple!
The competition between these branches also makes coin roll
hunting very easy. All of the small businesses like food markets, drug stores, and souvenir shops in the market districts get
their coins from these branches so any coin orders a hunter would like to add
on is just “another” dime box that they’re ordering for their many buisness customers. I sometimes have to wait in line when I'm dumping my coins into the counting machines as the business members dump their weekly till. (This is also a great time to scout coins -- Is that a silver dollar right there?) The banks around don’t really complain about
providing coinage because they don’t want to lose you to the bank next door
(literally, it's right next door).
Even better, much of the public transportation is free
(well, our tax dollars fund it!) since the city wants to ease up much of the
car traffic in the city, so this makes traveling to banks even easier. Just hop on and go to another region to a whole new set of tellers who have no idea why you want a box of pennies - all free of charge.
Exploit the natural strengths of your location.
2. Never, EVER pay a fee for
coins or to return them
 |
| Coinstar charges a 8.9% fee. This will not end well. |
There’s no reason to ever pay a fee to get coins to hunt or
to return them. The expected value of a box over its face value is much lower
than the fee that I’ve heard of banks charging, typically between $5 and $12.
Coinstars are good for finding coins in the reject slot, but almost never to return them. Trust me, you won’t stay profitable for long paying fees like their 8.9% rate. Many banks
are willing to provide coins at no additional charge as a convenience to their
customers and many others even offer a free coin counting machine that will
save you a load of time and money on the dump.
If you don’t have access to a machine, rolling isn’t
really that bad if you plan ahead and always have paper rolls available.
Remember – banks will almost always give you paper rolls for free so NEVER pay
for them, either!
Avoid fees at all costs and hunt aggressively for
banks that won’t charge fees!
3. Find other channels for
revenue
I’d like to think that my posts and stories of hunts and results are
entertaining or at least semi-informative. But, that’s not the only reason why
my site exists. Companies are willing to compensate me for the exposure they
get from my readers. This just adds to the earnings from this wonderful hobby. Fortunately,
having a blog isn’t the only way to generate additional revenue! Entering into
various banks very frequently helps to keep the coin roll hunter informed of
promotional offers that banks have available, not to mention the customer
rapport that develops. I really think that a lot of offers have made their way
to me based on my frequent interaction with the tellers. Just this weekend I
was asked if I wanted to talk to the financial consultant at the branch since
he had some new and interesting promotions to share with me. Making more money with my money – isn’t that
the goal of profitability from coin roll hunting!?!
The finds aren’t the only funding! Find the other types!
Final thoughts:
Coin
roll hunting is profitable for me, but as you can see a lot of it is really
just where I’m located and how I’m able to exploit my environment to make money. I also
utilize my coin roll hunting hobby to launch other profitable ventures that
just grow the earnings from this hobby even when I’m not searching. Many of
these tips may not be possible where you’re located, but you might be able to
use these tips to your benefit in your own environment and ultimately make some money by coin roll hunting and remembering your 5 Magic Words for Free Silver Coins. Those bags of money sitting around won't just be just full of zinc pennies anymore!
