does this guys numbers jive?

[97guns]

i saw this thread on another forum and couldnt figure if its viable or not. i thought that the roll searchers here would know if he's FOS or not. he's claimin a 240% ROI.




One year ago I began to "treasure hunt" for junk silver. I borrowed $500 from our savings account and placed in into its own little savings account with a little extra padding.

Each week (sometimes twice per week) I go into my bank and pick up a case of half dollars and occassionally dimes or quarters an sift through it picking out the junk silver. I then redeposit the clad coins and repeat once the deposit re-posts to my account.

One year later, here are the results using coinflation's conversion numbers from 1/3/11:

90% halves-50 @ 11.08 each $554
40% halves-185 @ 4.50 each $838.05
90% qtrs-15 @ 5.54 each $ 83.10
90% dimes-13 @ 2.24 each $ 28.73

Total face value $122.55
Initial investment $500.00
Total invested $622.55
Return on investment $1503.88

[beauanderos]

His numbers are better than that, since he didn't invest the $500, just used it as a tool. He invested the replacement cost of the clad, plus any costs he incurred traveling... and then what is his time worth? Roll searching/bank box hunting can be quite lucrative if you're persistent. I only search halves, because the find rate is much higher than dimes and quarters, and my numbers aren't quite as good as his, but close. Starting in late April I was still able to find 172 90% and 313 40% over the remainder of the year. Several members have found much more than I did. So... it's possible.

[999Ni]

1504 is the metal value of the coins now
he spent or invested 622 to get those coins
so he profited 882

wouldnt his ROI be a little over 100%? am i thinking bout this rite?

[jasmatk]

sounds about right but he says he started w/ 500 and he is pulling a case or 2 of halves a week maybe his bank is quicker than mine

[slickeast]

He still has his initial $500. (or 377.45 if he took it out of the $500)

He only has $122. 55 tied up in the silver coins.

$500 - 122.55 = 377.45

sell the coins for 1503.88. Take 122.55 and put out back in with the 377.45 to make $500.

This leaves a profit of $1381.33

1127% profit

[Rodebaugh]

He still has his initial $500. (or 377.45 if he took it out of the $500)

He only has $122. 55 tied up in the silver coins.

$500 - 122.55 = 377.45

sell the coins for 1503.88. Take 122.55 and put out back in with the 377.45 to make $500.

This leaves a profit of $1381.33

1127% profit

Correct......someone paid attention in school