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PennehChaos.
Penny Collector Member
USA
269 Posts |
 Posted - 06/12/2008 : 12:53:38
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Just wondering... seems as though there are two different types of bank boxes, both provided by Brinks.
All the boxes that i get from my local bank branches are solid cardboard boxes filled with plastic-wrapped coins. There is no date on the box anywhere that i can find. My luck with these has turned very sour lately, with 7 duds, and 2 all-but duds, out of a dozen boxes. These are all mixed-date rolls- never any fresh-minted, single-year rolls.
i have also seen boxes with all the cutout holes in them, with machine-wrapped paper rolls. Neither of my banks gets these, but i've seen them on drive-bys. i've yet to get a dud roll out of these.
If you've been getting a lot of "dud" boxes, are they paper, or plastic?
Have you ever gotten an all-2007P (or whatever) roll in plastic? An all-mixed-zinc roll in paper?
Do you ever get different types of boxes from the same bank?
Trying to figure out if it would benefit me to open a "buy" account at a different bank to get the paper rolls... Spending far too much time dumping rolls right into the coin counter lately.
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Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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fb101
Administrator
USA
2856 Posts |
Posted - 06/12/2008 : 12:58:13
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| My specialty is drive-bys. My recent worst box was paper. The other side was I picked out 8 unc 1959Ps out of it, but it was 75% 2007s. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/12/2008 : 13:03:43
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I can't answer your question, but I can tell you my experiance in BC. No one is sorting pennies on a commercial scale that I can see yet. However, on Nickels Coinage Distribution Inc is sorting out all CuNi and Ni coins (and US CuNi too!). I've gotten a lot of dud boxes via them and Churchill (which I think is supplied by them). Asking for full boxes at the Charter Banks has yeilded me a lot of Mint Fresh coin. Going to small and medium size branches and asking for $100-$200 face at a time seems to yield the best percentages for me right now. But things change. You are going to need to try different things out to see what works - and then continue to try other things out because things change.
There is a massive float of coin out there and it moves from place to place. You might run across someone's reject zincs, you might hit someone's dumped old penny collection like I did getting solid date rolls from the 60's and 70's presorted and labeled. Someone dumped grandpas coin collection at a CIBC branch! Other times you'll hit the effects of a commercial sorting operation. It is like playing the lotto - except here you can always cash in the loosing tickets for face value, and keep or sell the winners! |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 06/12/2008 : 13:14:43
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On the bright side, at least you have a coin counter to dump your coin into. Many of us do not have that luxery and must roll or bag our own to redeposit the zincs to the bank.
I suspect from your description that your source bank is either Bank of America or Wells Fargo. The type of boxes you get will depend on what coin service the bank gets their coin from. The first type of box is what we call a standard "Brinks wrap" These are plastic wrapped rolls mounted usually in solid boxes laying down. These are common at Bank of America and Wells Fargo branches. These are the ones most folks here have gotten solid dud boxes of mixed circulated zincs in. You almost never get solid boxes of brand new 2007 or 2008 pennies in these, but I have seen rolls with a high percentage of new coin mixed in with old coin in the rolls occasionally.
The paper rolls come in both peekaboo boxes and non-peekaboo boxes, depending on whichever boxes the coin service uses. Peekaboo boxes are more common on the east coast while solid boxes are more common on the west coast. There have only been a few reported mixed date dud boxes of this type reported here, but the vast majority of solid boxes of shiny new zinc pennies come in this packaging form, as well as mixed boxes like fb101 got containing both solid rolls of shiny new zincs and regular circulated rolls. I don't count the new rolls in my percentages.. just pull them out and toss them in a bucket and make whole boxes out of the remaining circulated rolls. The process of mixing old and new rolls was started back in the 70's to discourage "hoarding" of BU boxes.. LOL. They also used to mix the new coin with old coin to make up rolls to further discourage hoarding of BU rolls, but most coin services are too lazy to do that, so you will get a box that is a mixture of new rolls and old rolls.. some of us are happy either way. It ain't gonna stop me from hoarding.  This time of year you will be seeing a lot of new boxes if you get your coins in this form, but any boxes of circulated coin will most likely contain the standard copper percentage for your geographical area. Most banks only carry one type of box unless they happen to get something deposited from one of their customers.
Since you use a scale it would be a lot more efficient to just weigh the rolls or boxes and deposit the zinc ones in that form to one of your other banks without bothering to crack them out and run them through the counter.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
Edited by - HoardCopperByTheTon on 06/12/2008 13:26:51 |
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tadpole
Penny Sorter Member
63 Posts |
Posted - 06/12/2008 : 17:16:48
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Some general information about rolled coin.
Brinks is the only company that rolles coin in the plastic rolls that are "shrunk" on each end to contain the coin, often referred to as"coin in a condom". Coin Wrap Inc. and their sister company primarily use the coin boxes with holes to view the end of each roll. CWI rolls coin for most of the Loomis terminals as well as Dunbar, Garda the US Mint and some of the independent operators. CWI manufactures these boxes themselves but they do sell them to the public.
New pennies come from the Mint in large bags containing $4,000. Most of the coin rolling operations will just dump the coin into the wrapping equipment and won't extra extra effort to mix in circulated coin in with the mint coin. The mint is making an extra effort to move the circulated pennies around the system and only send out new mint pennies if they can't fill the demand with circulated coin.
Another issue is the cost of rolled coin to the banks. Brinks and others do not roll the coin for free. They assess a charge of at least 3 cents per roll to provide this service. Some banks may consider this when you ask for coin. As far as I know, no US Banks get ther rolled coin for free.
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/12/2008 : 17:45:08
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Thanks for the good info on the US coin system tadpole.
In Canada the RCMint ships new coin in plastic rolls shrunk on. RCM boxes it into the same type of boxes used by various companies on both sides of border but the mint boxes have a tiny RCM logo on them. The boxes are sealed with RCM tape across the front.
It appears that new RCM coin is also dumped into circulation in loose bags by the RCMint because I have found rolled and crimped "generic" paper rolls - in some cases entire sealed boxes of 2007 and 2008 pennies with Churchill seals on the boxes. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 06/12/2008 : 19:10:17
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quote:
Originally posted by tadpole
As far as I know, no US Banks get ther rolled coin for free.
Except for Bank of America.. when they make an emergency phone call to their favorite penny hoarder.
Thanks for the great info tadpole!
I thought they shipped it out in huge bins. Now how do I go about getting some of those "Hoard" size bags? Ooooooh, I want some! What are these 1.1 ton bags made out of.. really heavy duty plastic? |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
Edited by - HoardCopperByTheTon on 06/12/2008 19:30:28 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 06/12/2008 : 19:29:38
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| Recent nickel boxes have appeared with white tape. Still no markings. |
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Think positive. |
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 06/12/2008 : 19:45:32
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| My best box ever was about 90% copper and it was plastic wrapped. However, a $10 buy that came in plastic and was about 10%! I've found no rhyme or reason. |
Are you throwing that out? |
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tadpole
Penny Sorter Member
63 Posts |
Posted - 06/15/2008 : 09:48:34
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| hcbtt: The big bags will hold $3,000 in circulated pennies. It's kind of interesting, circulated coin takes up more room that the mint coin. The bag will weigh over 2,000 lbs when filled so you need a forklift to lift it or set it on a skid and use a pallet jack. The bags are made out of a reinforded plastic material, very strong and don't break. There are loops on the top that can be used to lift the bag. Send me an e mail and I might be able to set you upo with some of these. I am on the West Coast. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/15/2008 : 11:14:59
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| Sounds like the same sacks we have handled granuar rubber, plastics, and minerials in. Great info tadpole! |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 06/15/2008 : 11:46:14
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| That is sooo cool. We have forklifts and loading ramps at work, but I don't think I have enough spare room in my office for a ton of pennies even if I did have 3/4ths of a ton stacked up there before I got my Ryedale. (This was back when I used to hide my pennies from my girlfriend at work) Pretty sure my brother across town would let me use his forklift and a corner of his warehouse though. If the $3,000 in circ pennies were all copper it should come in at almost exactly 1 ton. I figure with a standard street coin mix it should be a bit less than a ton. I think with 4,000 shiny new zincs it should come in at about 1.1 tons. There are some logistical things I have to work out, but I am very interested. Sending you an email. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/15/2008 : 16:51:46
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| Will we be seeing a name change to HoardCopperByTheSuperSack? If you do this deal you will not need to be doing any drivebys for small change. Maybe we could dump zincs in Supersacks... |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 06/15/2008 : 17:33:31
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| i donno... i think it's hard enough finding a bank that will take $50 sacks of zincs... you'll be working the phone a long time trying to find a branch that will take them by the pallet! |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 06/15/2008 : 21:25:13
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| my bank would probably take super sacks! but the people on the streets think im crazy now! one guy sitting on the bench outside the bank said, "what's with the petty fetish, man". |
"99% of all lawyers give the rest of them a bad name" 
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Bank boxes- paper or plastic rolls?
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