Just say NO to pellets. Use your .38!
Finally someone with some common sense. Leave those springers for squirrels as raccoons are very tough critters. Be a sportsmen and be humane as we already have far to many anti hunters and anti gunners. Don't give them anymore ammo.
I use two rifles against our grey squirrels--
1) Savage .22rf: 40gr 750-1150 fps
2) Crosman .22 pellets: 12gr 495 fps
Although the Savage's 'Quiets' ("bang!") are NOT as quiet as the Crosman's pellets (">punque<") a good hit with the rf (e.g. behind the ear) brings instant death. A hit with the pellet however, is not guaranteed--it's more difficult to make, and the damage less certain. Even with the rf, a kill shot is not certain, esp if the shot is off the mark, or the animal is fleeing the scene. Wounded squirrels scamper into the salal, and you don't want that.
Another deficiency of the air rifle is its inability to have a quick follow-up shot at the ready in case your first is less than perfect.
Lately I've been using CCI Standards or MiniMags, and why not? It's not like I'm blasting away with boxes of 50--'One shot, one kill'--("
CRACK!") and it's over for the day.
For a large racoon I'd choose my Winchester '73 with .38 Spl--
it's relatively quiet, fires a 130gr HP at ~1100fps and your shot does not need to be one to the head.
But going up against an alpha 'coon with a pellet, my confidence level would be zero. The result could get ugly.