You may have Extra Money Hidden in your COUCH!
A lot of people are always looking for a fast way to make an extra buck, and while the term ‘easy money’ is relative to how much work you actually want to put into something I have a tip for you to try. There’s nothing easier than looking for extra money in places you’ve already looked, and by that I mean finding extra money in your change jar! Now hold on just one second, I know what you’re thinking but just hear me out for moment before you jump to conclusions.
A little back history:
Prior to 1965 the United States Mint was in the habit of producing most coins with real silver alloy. Common coins such as Dimes, Quarters, Half-Dollars, and Silver Dollars were minted with a combination of 90% pure silver (hence the source of the name) and 10% ‘Filler’ metals used to make the coins more durable. The US Government halted this practice after the price of the metal began to rise, and it became more economically sound to use cheaper metals such as copper and nickel.
What’s it worth, really?
Great! Now that we know what the stuff is, what does it all mean? Well 90% silver can be measured by the ‘face value’ of the coins, or just FV for short. Let’s say you had a bag with $1,000 face value worth of Kennedy half dollars. If you were to take it to your bank and deposit it, the tellers would credit $1,000 to your account, the face value. However, because the coins are made of Silver alloy, in today’s market the bag would be worth just shy of $22,000.00! Crazy!
Awesome! How do I get it?!
There are a few ways to go about finding silver, though the most common is the simplest. Most people keep the random change stored around their house in a change jar. Start there and see what you find! If you really get hooked, you can visit your local bank and exchange cash for rolls of coins to look through, just make sure you deposit the coins somewhere else so you don’t keep searching through the same rolls! Often times people will ask for a box of halves, meaning request $500.00 FV in half dollars. This is a rather large buy in, and while you'll always get your money back once you return the coins it may be best to start small if you decide to take this route.
Anything else should I know?!
There are a few things to consider before picking this as a hobby. I often recommend to other people to try this out as a group activity. Nothing is more exciting than a treasure hunt in your own living room, and what’s better than to share it with someone else? I do however recommend that you keep a supply of antibacterial soap handy, as shifting through all that change can be a rather dirty job. For those of you considering doing this with children, I would suggest waiting until they are past the ‘all items in the mouth’ stage. Finally, when you’re searching through the rolls from banks, often times they will come in clear plastic tubes. A handy trick is to use your thumbnail and check the edges of the roll from top to bottom; a trained eye can distinguish the silver from the other coins. This can save you a lot of time if you want to easily scan through rolls without opening them, though be careful you never want to miss the opportunity to find silver!