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The E-Sylum: Volume 25, Number 27, July 3, 2022, Article 36

AUSTRALIAN COIN NOODLING

In another sign of the vitality of the numismatic hobby, avid coin searchers ("new-age treasure hunters") are causing a fuss in Australia. -Editor

  Australia coin noodling video

Teenagers with time to sort through hundreds of gold coins are making a fortune with 'coin noodling', but not everyone is impressed by the money-making craze.

Loved by Generation Z, the craze involves depositing notes in a coin change machine, digging through the rolls of coins for rare ones and then giving the rejects back to the bank.

Described by viral social media channel Gold Coast Picker as a 'risk-free investment opportunity', the coin noodling craze has become huge with people willing to put in the effort.

'We go treasure hunting for rare and commemorative coins to collect and make money,' the people behind the popular page revealed.

Australia ATM coin rolls In the video, which was posted across TikTok, Facebook and YouTube, the young star of the channel is seen feeding $1,100 worth of notes into the machine.

He then collects the rolls, cracks them open, and sorts through them looking for any worth more than $2.

But people who work in the industry have slammed the industrious effort, calling the young man shameful and a time-waster.

'All you are doing is wasting your own time and stuffing people around,' one woman said alongside a rude emoji.

Others complained they have gone to use the coin machines for their business only to find it empty.

Some said the practice should be banned completely.

'This is not what those machines are intended for and if you keep doing it they'll shut them down or make them for business only,'

One person said the young man in the video needs to 'find a job' suggesting he roll coins in a bank.

But others defended the treasure hunter, and the generation of young 'coin noodlers' who admitted to trying it out after seeing similar videos.

'As long as they do it at the change machine and not at the bank counter then they are not wasting anyone's time,' one woman said.

Some thought the video was 'genius'.

So maybe these people don't start off as coin collectors, just treasure hunters. But having been introduced to the hobby, hopefully many will learn something about numismatics and take their interest to the next level.

I've never seen a coin-roll-dispensing ATM here in the U.S. What other countries have these? -Editor

To read the complete article, see:
Banks are furious over new ATM trend young Aussies are using to make 'thousands' of dollars with little effort and zero risk : 'We are the new-age treasure hunters' (https://www.dailymail.co.uk/femail/lifehacks/article-10959203/Banks-furious-new-coin-noodling-ATM-trend-young-Aussies-using.html)



Wayne Homren, Editor

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The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

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