How to get started hunting coins and currency

You may be a treasure-hunter at heart, constantly on the lookout for the extraordinary amongst the ordinary.

If you are, then you needn't look any farther than your local bank or credit union.

They are caretakers for various kinds of coin and currency goodness — all hidden in plain sight, ready to be found by anyone looking.

The great things about coin and currency hunting

Some hobbies require startup costs. I've had friends that were into metal detecting. The better metal detectors aren't cheap.

With currency hunting, though, there don't have to be any extra startup costs. All you need is money in the bank to withdraw.

Also, even if you withdraw some bills or some coins, and end up finding nothing special, you still have all of your money.

A cent is worth at least a cent, and a dollar is worth at least a dollar. There's no downside, only upside!

All that's required is some time, and a small bit of knowledge.

Hunting Lincoln cents

Lincoln cents typically come in boxes of $25 worth. A box of pennies gives you the most chances to find something good per dollar “invested.”

Within a box you could find these special cents:

95% copper cents. There's an active community that will sort out copper cents from modern zinc cents simply because they're copper. The US Mint began minting cents with 97.5% zinc in 1982 because copper became too expensive due to inflation. Search for copper cents on eBay and you'll find boxes of these going at a premium to face value. Simply because they don't make them like that anymore.

Wheat cents. In 1959, the reverse of the cent changed to the Lincoln Memorial to commemorate the 150th anniversary of Lincoln's birth. Prior to that, beginning in 1909, the reverse design featured ears of wheat on the edges. Depending on the year of these so-called wheat cents, collectors value them at anywhere from a few cents apiece to a hundred dollars or more.

Indian head cents. Even older than wheat cents are Indian head cents. These were minted in the 19th century through the first decade of the 20th. These are easily worth a few dollars if they're recognizable. The better examples of the rarer coins sell easily in the thousands of dollars.

Hunting Kennedy half dollars

Another popular coin to hunt through is Kennedy half dollars.

I struck out the last time I got a substantial number of half dollars (around $500 worth) but other people I know have had great finds — and a lot of them.

Piling through some half dollars you could find:

40% silver Kennedy halves. The US Mint used to make dimes, quarters, half dollars, and dollars out of silver. (Now they're over 90% copper.) Between 1965 and 1969, half dollars were 40% silver. It takes about seven 40% silver halves to have an ounce of silver. These coins have a significant melt value that's well above their face value of 50 cents, regardless of the condition of the coin.

90% silver Kennedy halves. Prior to 1965, quarters, dimes, and half dollars were 90% silver. It only takes about three 90% Kennedy halves to make an ounce of silver. If finding 40% halves is good, then finding 90% halves is great. The year 1964 was the only year that the Kennedy half dollar was minted for general circulation in 90% silver.

Franklin halves. From 1948 to 1963, the Mint struck the Franklin half dollar. It also has a 90% silver content. Since it's the same size as the Kennedy half dollar, it's possible to find them mixed in with the Kennedys.