Quick question from a new hoarder

[CtrlAltBernanke]

Hello everybody,
Even though I new to hoarding I am not new to coins but I have a few questions.

My first question is about dumping. I've seen what people have posted on here about dumping around local banks but what about dumping in another city? This week I will be picking up a very big shipment of half dollars from multiple banks. I frequently dive three hours away to another city in another state. Would it be a better idea to dump thousands of dollars a month in this other city? I highly doubt that banks will truck all this fiat crap back to my state and my city. My city is not to far from a local FED so I was thinking they would replenish my local bank level of half dollars. Is this a good strategy?

My second question is about par levels for a new hoarder. Does anybody have any advice for a new hoarders reserve levels? For example, $2,500 in copper pennies, $2,500 in nickels, $2,500, $2,500 in silver half dollars, etc?

My last question is about Canadian coins. Would it be worth going to Canada or right on the boarder to pick up a few thousand dollars in Canadian pennies and nickles? Are there enough silver nickles in circulation to merit a trip? Same question for copper pennies.

Those are all of my questions but if anybody else has any advise for a new hoarder please feel free to share.

[CardsNCoins]

......Would it be a better idea to dump thousands of dollars a month in this other city?.......

I can not write the word yes big enough.

Welcome to Realcent.

[Chief]

You should do the amount of pennies or halves that you can reasonably do. That is the beauty of CRHing, you can do as much or as little as you want.
Also, do dump 3 hrs away if it is possible. Best of luck.
Where are you located?

[CtrlAltBernanke]

I live in Columbus Ohio and was planning on dumping in Louisville. I was also thinking about picking up in Cincinnati on my way to Louisville once I felt the banks in my city might need a break from me.

[Chief]

I tell you what, after a month or two, you'll know a lot more. You find out things and innovate along the way to be more efficient, searching more coin. If you put in time and effort you'll find silver or coppers or wheats, whatever you're looking for.

[CtrlAltBernanke]

Yeah I hope to learn a more efficient system as time goes on. I understand that this is going to be a marathon and not a sprint but I do have some specific things I would like to accomplish by this time next year. While I've been waiting for my half dollars to arrive I've had some beginners luck with pennies. Last week I got $250 in pennies and have only gone through two boxes so far. I'd say 98% of what I've sorted is copper so far and average one to two wheat pennies a roll. I'm enjoying it now but realize it wont always be like this.

[philadelphiafan]

Umm I don't believe there were ever silver Canadian nickels.?.

[CtrlAltBernanke]

I'm not sure what Canadian nickels are made of. I just know that the 1981 and older are are worth over eight cents now. I don't know if there are enough in circulation to merit driving two hours two Canada. If anybody knows, that would be useful information.

[Chief]

pre-1982 Canadian nickels are .999 nickle.

[BamaJoe]

Dump away from home? YES, its a great idea if practical. Just don't come to Bamaland or I will have to hunt you down and pull the valve stems out of your tires.

Actually, I'm going to be in WV for a couple days in June and am planning on taking that weeks half dump and leaving it there while I'm at it.

[John_doe]

it certainly depends on how far you are from the border. if it is only a couple of miles I would certainly do it. if it is a good distance you would have to pre-order and pick up in bulk to make it worth it.

[mishra142]

Dump away from home? YES, its a great idea if practical. Just don't come to Bamaland or I will have to hunt you down and pull the valve stems out of your tires.

Actually, I'm going to be in WV for a couple days in June and am planning on taking that weeks half dump and leaving it there while I'm at it.

We dont want your dumps here in WV.

[merchoarder]

There were silver Canadian nickels but not for a long time, not sure exact date. They no longer circulate as they are much smaller than current nickels. The idea of going to Canada and purchasing large amounts of pennies and nickels has always intrigued me as well. However, there are laws against leaving the country with X amount of dollars worth. It is discussed quite a bit in a few threads here. Look around, tons to learn, lots of good folks here! Welcome and great name, made me chuckle

[theo]

Umm I don't believe there were ever silver Canadian nickels.?.

I'm not sure what Canadian nickels are made of. I just know that the 1981 and older are are worth over eight cents now. I don't know if there are enough in circulation to merit driving two hours two Canada. If anybody knows, that would be useful information.

I believe all pre-1920 Canadian nickels, dimes and quarters etc. were sterling silver (92.5%). And of course dimes and higher were 80% silver until the late 60s. However, I'm sure that very few if any remain in circulation. The wife and I took a short trip to Toronto last August. Of the nickels I picked up about 10% were .999 NI and the pennies rendered about 40% copper. I wouldn't make a special trip, but if you are there for other reasons get as many pennies and nickels as you can. CIBC seemed to be the most cooperative. If you want Canadian .999 nickels, try buying some Canadian lots on E bay. In addition I believe a few members on RC sell them occasionally.

[JadeDragon]

No silver nickels in Canada in circulation (well maybe the very occasional US War Nickel).
CIBC is the worst I've found for walk up buying - they rarely carry much coin and each teller keeps a separate stash.
There is not enough money in this hobby to justify long trips to get and dump coin. Buying a lot of Canadian coin to sort presents the problem of dumping the 90%+ of nickels and 70%+ of pennies you don't want to keep. You'll be finding enough Canadian sorting in the US.

There is very little silver circulating in Canada. 1/2s don't circulate. Quarters and Dimes are picked over. Maybe 1 silver dime in $500 is what I've found from my searching. Less with quarters.

[JobIII]

Hi CAB,

I would not consider going to canada unless you live within 10-15 miles of the border. The travel costs would be pretty high. Also you would need to deal with a lot of returns. The exchange rate could also eat into your profits. If you're still interested I would make sure you find a way to maximize your pick-ups (just under 10K per pick-up)...

If you're serious about sorting and holding. I'd suggest sticking to US coins (AG, CU, and CUNI). I don't think you need to be so concerned with returning coins 3 hours away from your home. If you're sorting pennies definitely don't be concerned with dumping at banks near where you pick-up. And I really believe it's random luck for the other denominations.

~JobIII

[GimmeSomeSilver]

I dump $14,000 a week in havles in Columbus. There is always going to be someone dumping in your territory, just like you dumping in theirs.

[CtrlAltBernanke]

Lol! Really? Well I got my first $1,000 in halves yesterday and found nothing. Funny, there was a black check mark on one coin per roll. I've got $6,000 more coming this week. If I don't get anything by weeks end, I may have to reverse course and have Louisville be my pickup and Columbus be my dump city.