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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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cecropia_moth
Penny Pincher Member
USA
222 Posts |
Posted - 11/06/2009 : 13:34:09
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Damn...I wouldn't want to go through an uncomfortable situation like that. For now I'm keeping my sorting pretty small-time. I have a bank that will sell me $50 bags (of cents) from their coin counting machine. One (sometimes two) bags a week is a sure deal from them. Most banks will not sell their bags...this bank has 6 or 7 branches in my town and this is the only one that will sell me bags. I just have a good rapport with the ladies at this branch. A couple of things that I have found important...(1) call first to see if they have any bags to sell and (2) be consistent (if you tell them you will be there at 4:00, be there at that time). Find out when your local branches ship out their loose coins...this particular branch has their armored pick-up first thing on Wednesday morning. Mid to late afternoon on Tuesday is thus the sweetspot as far as a time to do a pickup.
Take care,
Jeff |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/08/2009 : 00:46:44
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When did banks start thinking they could make money?
I wonder if they are consistant on their charges at that bank or if you could get a volume discount for large orders.
They don't actually "charge" the merchants that.. the account is put on analysis and then they only charge the merchant a fee if they don't keep enough funds in the account to make it worthwhile for the bank.
Depending on the arrangement the bank has with their coin processor, there is a good possibility there is no additional incremental charge for your measely thousand rolls. The bigger banks often have an arrangement where they pay a set fee for so many pickups and deliveries per month regardless of amounts.  |
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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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/09/2009 : 02:07:32
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I can probably deliver since you are just down the road. How many do you want.
I have an account at that bank. I don't really use them much, just an occasional drive by or to dump a few extra boxes. They have a branch in one of my supermarkets out here. |
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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Coinage
Penny Collector Member
Canada
303 Posts |
Posted - 11/09/2009 : 03:13:30
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I ordered a box of Quarters once from a local bank and the manager told me they would have it a day later... however, if I didnt pick it up, they were going to charge me $25. Whats that all about? I should have told them I wanted it counted in front of me before I buy it cause last box I was shorted.
If anything, I'm helping the banks because I double check the count and replaced those pennies I found in those Nickel rolls. There's 40 nickels in a roll, not 29 nickels and 6 pennies! *vent*  Seriously, how do the banks prevent this from happening. If I don't correct the amount, than the bank would assume Im skimming. In my opinion, these banks are getting a free service by us collectors... they shouldnt have any reason to bitch or try to ding us. I pay full price for a box of coins that may or may not be full... who knows until every single roll is opened. I'll pay the $4, but I want it all counted with a receipt. The time, effort and equipment it would take those guys to do this, they would lose money... especially here in Canada where Banks don't accept bagged coins; rolls only... And just like banks, I want rolls back!  It would save me time and gas money to just hit up that one bank that charges $4 a box... Id get 25 boxes a week.
I hate it when they ask what youre going to do with all those coins, "why do you need that many"... I should ask to see their personal bank statements and ask what they are planning to spend there money on. idiots. I usually say that I'm starting a coin collection for my kids... I don't have any kids, but when I do they obviously will have a coin collection.  |
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Edited by - Coinage on 11/09/2009 04:08:57 |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/09/2009 : 04:21:58
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| Yup my daughter has a large and growing coin collection. She was munching on a silver maple the other day and she loves to throw pennies around, so she seems to be into coins already at 8 months. |
“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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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
 Posted - 11/09/2009 : 08:49:38
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quote:
Originally posted by Coinage
I ordered a box of Quarters once from a local bank and the manager told me they would have it a day later... however, if I didnt pick it up, they were going to charge me $25. Whats that all about? I should have told them I wanted it counted in front of me before I buy it cause last box I was shorted.
If anything, I'm helping the banks because I double check the count and replaced those pennies I found in those Nickel rolls. There's 40 nickels in a roll, not 29 nickels and 6 pennies! *vent* Seriously, how do the banks prevent this from happening. If I don't correct the amount, than the bank would assume Im skimming. In my opinion, these banks are getting a free service by us collectors... they shouldnt have any reason to bitch or try to ding us. I pay full price for a box of coins that may or may not be full... who knows until every single roll is opened. I'll pay the $4, but I want it all counted with a receipt. The time, effort and equipment it would take those guys to do this, they would lose money... especially here in Canada where Banks don't accept bagged coins; rolls only... And just like banks, I want rolls back! It would save me time and gas money to just hit up that one bank that charges $4 a box... Id get 25 boxes a week.
I hate it when they ask what youre going to do with all those coins, "why do you need that many"... I should ask to see their personal bank statements and ask what they are planning to spend there money on. idiots. I usually say that I'm starting a coin collection for my kids... I don't have any kids, but when I do they obviously will have a coin collection.
Coinage...I'm with you on getting upset over the shortages and always replacing any missing or wrong denomination coins with the correct ones. It was for this very reason that I almost quit sorting the rolls last year not long after I started this hobby. I thought they would always be like that and that there would only be shorted rolls. But, as I continued in this hobby searching for the birth year coins for my son and now daughter(-in-law) and anything interesting I can find, I realized that there is an occasional roll that is over. So I began keeping detailed records. I haven't gone back through them yet to see if I am close to even but hopefully I am. I have a wonderful relationship with my bank and I drop off my marked rolls where I pick up and just swap out for new rolls. They know my mark and I would never want them to open a roll I had sent back in and discover that it was short. So I grumble too and keep my notes and then I'll come across a few rolls that have an extra coin or two and I figure it will work out eventually. By having this good relationship with my bank I think that is why they let me know of the large collection of rolls turned in by one lady who said her husband had collected pennies. So I was able to get over 250 of those penny rolls and they are yielding lots of older Canadian and wheats so that has more than made up for the few short rolls of pennies I have gotten. Now, if I could just find some more decent nickels and dimes in their respective rolls that would be nice too. Four rolls of pennies or dimes OR five rolls of nickels is cheap enough entertainment for one hour as that is how long it takes me to search the rolls--basically 200 coins in one hour. And since I turn it back in to swap out for more rolls it really is cheap entertainment. And, the memories and excitement I have experienced when I do find something good...well, that is priceless and being able to share it with all of you makes it even nicer.  Hopefully the looks on the kids faces when I give them their 25th and 30th birthday gifts of the coin projects I am working on will also be priceless.
However, all of that said, I stopped completely sorting through rolls of quarters for that very reason. Can't afford to be shorted too often on that. So now I will buy $8.00 or $9.00 of quarters at one time to look for the birth years and the couple of state quarter designs that I like to keep and no danger of being shorted that way. The dimes are bad enough but I do occasionally find a dime in a penny roll so that helps.
Just relax and enjoy this hobby to whatever level you are comfortable. You will find ways to get coins to search and still keep good relationships intact.
Good luck, everyone, and enjoy your coin searches!  |
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