| Author |
 Topic  |
|
|
Lemon Thrower
Penny Pincher Member
USA
191 Posts |
 Posted - 06/19/2008 : 08:15:42
|
Just getting started here. Will be calling on several banks to inquire about dumping. Am told my bank will accept unwrapped coins.
How do you bring your unwrapped coins in? Do you buy special bags? Use grocery sacks? Do the banks give you their canvas bags?
|
|
|
MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 06/19/2008 : 08:45:50
|
The best thing I found is the "Fed approved" tamper-evident plastic coin bags. These are available at most bank supply stores. You can deposit these directly with your bank, and they never have to open them. They are very tough, won't break open, and have built-in handles. They are kind of pricey ($0.75-$1.00 each), but they are perfect. If you decide to get any, be damn sure that they are "Fed approved". Otherwise, you bank may not accept them and, even if they do, they'll have to open them and repackage, which will cost you service fees.
I can't locate the place that I used to get mine from, but I did a quick search and found budcobank.com. The ones I'm talking about are part no. 27-5003C. But there are many places you can get them from.
Have fun!
MaDeuce |
 |
|
|
horgad
1000+ Penny Miser Member
USA
1344 Posts |
Posted - 06/19/2008 : 08:47:06
|
It depends on the bank. The standard bank bags are plastic these days. They hold $50 in pennies and cost like 60 cent each. Your bank will send the pennies off to their coin handler in these bags.
So depending on the bank they may ask you to bring the pennies in precounted in these bags or they may be planning on counting and bagging them up themselves so they don't care so much what you bring them in. Also, if the former, some banks have been known to give out these bags... |
|
|
|
cyberdan
Penny Pincher Member
USA
242 Posts |
Posted - 06/19/2008 : 10:23:59
|
quote:
Originally posted by MaDeuce
The best thing I found is the "Fed approved" tamper-evident plastic coin bags. These are available at most bank supply stores.
That is all I use, but I have never bought one yet. I spread out my deposits amoung 5-6 diff banks/branches. After most deposits the tellers ask if there is anything else they could do for me. Then I always ask for a few more bags. I always get 2-3 even when I brought in one bag. |
|
|
|
nckt
Penny Collector Member
USA
304 Posts |
Posted - 06/19/2008 : 12:50:21
|
| I have a few special canvas coin bags, they are sorta expensive, but they are strong and work well |
|
|
|
HoardCopperByTheTon
Administrator
USA
3577 Posts |
Posted - 06/19/2008 : 13:36:53
|
I use the same as Dan. The plastic coin bags. They are provided free by my bank, but other banks might require you to buy your own. If you had to buy them you can get them for 57 cents each. I just hook them up to the machines, se thte batch stop to 5000, fill them, and seal them. If you are just going to transport loose coins to the bank for them to count them there the canvas coin bags are best. They can be bought new for $1.10 each or sometimes you can find used ones for less or even free. Make sure you have a good method for closure of the bags so you don't have any unwanted spillage like some members have.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
|
|
|
|
Nickelless
1000+ Penny Miser Member
USA
1311 Posts |
Posted - 06/19/2008 : 18:02:01
|
| I don't count my dump coins, I just fill large Tyvek envelopes with as many as possible--I'd guesstimate about $75 per envelope--and seal them up and take them to my main dump bank once a week. You can get a case of envelopes like that pretty cheap. |
Why hyperinflation is inevitable...and very soon:
http://www.shadowstats.com/article/292
http://www.ChrisMartenson.com |
|
|
|
ScottyTX
Penny Pincher Member
USA
128 Posts |
Posted - 06/19/2008 : 20:28:04
|
| I save my used 1 gal plastic jugs (mostly water, occasionaly milk but thats more work) fill them to the top and have a easy carrying handle to take in the door. I have found there is roughly 60.00 in a gallon of pennies, kinda my way of keeping up with them. I hand sort so this works pretty well for me. |
|
|
|
NotABigDeal
1000+ Penny Miser Member
USA
1809 Posts |
Posted - 06/19/2008 : 21:03:44
|
I figure $50 a gallon.... Of course, I don't count the returns. Place the zincs in one or more of my special boxes, and dolly them into the bank. Include a cup for the tellers. Works well for me.
Deal |
I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks. |
|
|
|
moboman
1000+ Penny Miser Member
USA
1302 Posts |
Posted - 06/20/2008 : 14:41:29
|
| I buy my own bags. The bank has given them to me in the past, but the ability for me to be able to drop off as many bags as I want at a time, and that they trust me to bring in the right amount far outweighs the cost of rerolling zincs, going to coinstar, or any other method. I even gave the bank about 50 bags just for letting me order coin and dump coin. |
I <3 Linux. |
|
|
|
Tourney64
Penny Hoarding Member
USA
713 Posts |
Posted - 06/20/2008 : 16:07:25
|
So far I have only dumped in a coin counter at a local credit union.
I either bring mine in a blue plastic pail or coffee cans with lids. The lids have saved me a few times in transpot and even today when a coffee can was leaning against the door and when I opened it, the can almost fell out. It would have been a mess in the bank parking lot.
I may look for another source financial institution that accepts loose coin in the sealed bags now that I have the high speed counter. |
|
|
|
lilyrdape
Penny Pincher Member
USA
120 Posts |
Posted - 06/20/2008 : 16:30:02
|
| i like using kitty litter buckets for dumps....its better using two of them tho so your walking with level weight on both sides :p |
|
|
|
HoardCopperByTheTon
Administrator
USA
3577 Posts |
Posted - 06/20/2008 : 16:37:11
|
| Just don't fill them all the way to the top.. even the small kitty litter buckets hold about 18,000 coins, so they can get kind of heavy. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
|
|
|
|
lumofny
New Member
11 Posts |
Posted - 06/28/2008 : 10:22:59
|
We supply our local banks with wrapped coin on a weekly basis. We also sell our surplus zincs to the Fed in standard 'fed-ready' bags. Here are pictures of part of this weeks dump:
 |
|
|
|
NotABigDeal
1000+ Penny Miser Member
USA
1809 Posts |
Posted - 06/28/2008 : 12:11:37
|
Quite a load there, lumofny. Nice.
Deal
|
I'm so sick over pennies....I frequently trade a dime or two for the whole "take-a-penny" container if sufficient coppers exist. That will get you some odd looks. |
|
|
|
knibloe
Penny Hoarding Member
USA
532 Posts |
Posted - 06/28/2008 : 12:48:28
|
| I do not have a coin cointer and neither do any of the banks near me. One of the branches that is near me said that they would take bags of coins. Could I just weigh $50 worth of zinc to dump them? If so how accurate does it need to be? |
|
|
|
Lemon Thrower
Penny Pincher Member
USA
191 Posts |
Posted - 06/29/2008 : 07:31:50
|
quote:
Originally posted by lumofny
We supply our local banks with wrapped coin on a weekly basis. We also sell our surplus zincs to the Fed in standard 'fed-ready' bags. Here are pictures of part of this weeks dump:
nice pics.
looks like you dump in bags of $50 rather than $25. Is that a manageable weight for tellers ~ 35 lbs.? Or do you recommend $25 bags? |
|
|
|
HoardCopperByTheTon
Administrator
USA
3577 Posts |
Posted - 06/29/2008 : 22:34:04
|
Knibloe.. how accurate is your scale? Depends on your bank's policy. Some will take them loose in bags and send them in for count verification, some will just verify by weight, and some will want exact count bags.
Lemon Thrower.. $50 bags are kind of standard. The weight is actually much less for a bag of all zinc pennies.. around 27 pounds or so. I can toss a bag on the scale and give an exact weight if anybody needs it. I have a buddy that actually turns his zincs in in $75 bags. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
|
|
|
|
simplicitycounts
Penny Pincher Member
USA
196 Posts |
Posted - 06/29/2008 : 23:47:37
|
Awesome picks lumofny. Never seen such a large dump for only a single week, must have quite the operation.
|
|
|
| |
Topic |
|
What do you use to "dump"
