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Jason
Penny Pincher Member
USA
138 Posts |
 Posted - 08/28/2007 : 15:11:10
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I've decided to invest in a roller to save the tremendous amount of time i spend wrapping zinc. I'd like something that would make rolls like bank rolls. I surfed around the internet and didn't find what i was looking for. If anyone has one like this, could you give me the model and/or where you got yours.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/28/2007 : 17:22:39
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Jason, You are right.. an automatic rolling machine can save a tremendous amount of time when rerolling your zinc to turn back in to the bank. The rewrapping is kind of mind numbing and takes quite a bit of time, so that was the first part of the penny process I decided to automate. I have 2 Glory model WS-10 automatic rolling machines. Each rolls about 10 rolls per minute. Brandt is also a good brand for rolling machines. The machines are quite expensive and very heavy so you will have to pay a lot for shipping also. If you keep your eye on eBay auctions they occasionally turn up at reasonable prices.. that is where I got both of my machines. You can also buy them from used banking equipment supply companies, but they generally want a few thousand dollars for one. One interim solution I used prior to getting my automatic rolling machines was a Royal Soveriegn machine (There are always several for sale on eBay.) This machine will automatically count out 50 pennies and then stop. It will either drop them straight into a roll with one end crimped (kind of pricey if you can't get them free from your credit union) or just directly into the plastic tube and then you put them in your own flat rolls or the rolls you pulled them out of originally. The machine is pretty accurate but I usually pop the finished roll on the scale to make sure it weighs 126 grams in case one of the pennies bounced off the top of the stack when counting. This machine was a big improvement over hand counting out the rolls without a major capital investment. You can also buy a little tool called a Twist-n-Crimp to crimp the other end of your rolls so they look like bank wrapped rolls, but I always just folded it down and taped it. The amount of pennies you process will determine what level of machine you purchase. Remember, just being able to reroll the pennies fast does not solve the whole problem, you have to find a bank that is willing to take that many pennies without charging you a fee. I remember the first weekend after I got my Ryedale machine and started working on my backlog of unsorted boxes, I rolled up 2600 rolls of zinc so I could recapture some of my capital. The bank about choked.. they were not happy to see me.. they started mentioning the F word (Fee).. so I found another one of my banks where I can just count them loose into a bag and turn them in. This works much better since my 2 Glory CN-12 Counting machines each count 1800 coins per minute and I don't have to buy any automatic coin wrapping paper this way. I just fill up the bins, set the batch stops to 5000 and fire them up.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu689500(150000 Reserved):US5Ni9500:CA5Ni1150 |
Edited by - HoardCopperByTheTon on 08/28/2007 17:24:29 |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 08/28/2007 : 20:17:09
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Just find a Credit Union/Bank that has a coin machine - they will take your coin loose in bags....why even bother wrapping? I commercial wrap but I'm knocking down $500 - $1000/wk and it gives me access to more coins via trading with banks. But, I also dump loose zincs every week at the bank. If you look hard enough, your town will have one....unless you live off the edge of the earth....in which case, you are probably having issues getting pennies to start with. Be prepared to spend $1000 - $2000 for an automatic coin wrapper. I can't remember - did you buy a Ryedale sorting machine?....that would be the first time saving tool to ge...and they are inexpensive at just $300.....next find a bank to use as a zinc dumpster...lastly get a wrapping machine....that is what I did....and I've stashed over 2 tons in 5 months.
M41/1USMI:US1Cu240000,CA1Cu328000,CA5Ni35000 |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 08/28/2007 : 21:24:05
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| Thanks for the info, guys. I have a dump bank which has been good at taking however much i may bring in. There is a bank in town that will count coins for free, but they stay so far behind i don't bother with them. Last time i went in they were a week behind and they had a guy who wanted them to call him once they were able to get around to his coinage. The way the teller talked he had a pretty good haul. I have a home made machine, but i plan to upgrade in the future. I want a roller before i get a ryedale, because i have trouble keeping up as it is and a ryedale will only make my problem worse. I'll write the names of those machines down and keep an eye out. |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 08/28/2007 : 21:41:26
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you can set eBay to email you whenever a listing that fits your search is placed (I used the term "Glory Coin Wrapper" and got emailed about 1 month later when a WR-200 was for sale.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/29/2007 : 00:02:54
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One other thing to be careful of when buying a rolling machine.. Be absolutely sure it rolls pennies! Many of the rolling machines from casinos do not roll pennies. They roll dollar tokens instead. Often the model # will indicate this.. it will be a -C in the model # or something like that. You can also ask the seller prior to purchase if it isn't clear which model they are selling.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu689500(150000 Reserved):US5Ni9500:CA5Ni1150 |
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deleted
43 Posts |
Posted - 08/29/2007 : 10:47:54
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I have a Ryedale now and love it. It is a great machine and I highly recommend it. I dump my zincs at several CU's, so I never rewrap zincs.
As for wrapping up coppers, I have decided against it for now. I don't want to invest all that money and time into it, for one thing. I store them loose in the $25 bank boxes. My plan is to eventually offer them for sale by weight. So, for instance on Ebay or at the local coin shop, I would weigh the box and take bids or set price based on weight. And of course if I sell to a smelter that will always be a weight-based transaction. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/29/2007 : 11:47:27
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quote:
Originally posted by creekrat
I have a Ryedale now and love it. It is a great machine and I highly recommend it. I dump my zincs at several CU's, so I never rewrap zincs.
As for wrapping up coppers, I have decided against it for now. I don't want to invest all that money and time into it, for one thing. I store them loose in the $25 bank boxes. My plan is to eventually offer them for sale by weight. So, for instance on Ebay or at the local coin shop, I would weigh the box and take bids or set price based on weight. And of course if I sell to a smelter that will always be a weight-based transaction.
Glad to hear you finally got a Ryedale. I suspected you already had one or were about to get one based on your buying reports. Now you just need a better cart to haul those pennies around 
I don't roll my copper either. I just bag it up with one of my counters. When you do your count for posting your HoardCode you should just weigh your boxes and figure them at 150 copper pennies per pound. When you store them loose in those penny boxes they don't quite hold 2500.. it is closer to 2000.
Well, it's off to the bank for me now to pick up today's shipment of 24 boxes.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu691250(150000 Reserved):US5Ni9500:CA5Ni1150 |
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43 Posts |
Posted - 08/29/2007 : 15:40:10
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quote:
Originally posted by HoardCopperByTheTon
[quote]
I don't roll my copper either. I just bag it up with one of my counters.
Yeah the Rydale makes all the difference in being able to process enough to make a sizable profit. Especially now that the race is on and clock ticking on the new coinage. I had a shock today when I found I had picked up 4 boxes of brand new 2007's from my last bank pre-order. I'm kind of at a loss on how to handle that at the bank if I catch it while still inside. Something like "Excuse me mam, but those boxes of pennies are too new - even though I ordered them and you just hauled them out of the vault for me, I don't want them now". That would go over real well.
Can you recommend a good but inexpensive counter? I may want to count some into bags and sell that way.
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 08/29/2007 : 15:50:45
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| i see those boxes of 2007 cents on ebay every now and again. sometimes they do sell for more than face. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/29/2007 : 16:05:44
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I agree with you about the Ryedale.. it is a great machine. I am actually thinking of getting a second one.. heck, I have 2 of everything else, and this would double my capacity. When did yours arrive?
I wouldn't say anything about the new ones, just smile and say "Thank you" Just think how fast you can sort these <G> I used to hope for shiny new ones instead of unsorted. They were selling on eBay for $75-80 a box. The market for them has really declined now that most everyone that wants some has them. Now they go for about $25-30 a box, so hardly worth selling.
Some of us are setting a few boxes back as our zinc hoard for the imminent compostion change. Figure if you are going to have a little zinc it might as well be BU rolls so you have the numismatic play as well. Your other options are to just turn the boxes in at your dump bank if you need the operating capital, or keep a few boxes in your trunk to trade for unsorted boxes at those banks that tell you they don't have any boxes of pennies to spare. They should be happy to trade boxes of dirty old pennies for shiny new ones to give to their merchant customers.
Good news on the counters. Because of supply and demand you can actually get a really good commercial level counter that sold new for a few thousand dollars for between 100-200 dollars now. I am partial to Glory Brand machines, but there are several other manufacturers that made great machines also.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu691250(150000 Reserved):US5Ni9500:CA5Ni1150 |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 08/29/2007 : 19:29:16
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[/quote]
Yeah the Rydale makes all the difference in being able to process enough to make a sizable profit. Especially now that the race is on and clock ticking on the new coinage. I had a shock today when I found I had picked up 4 boxes of brand new 2007's from my last bank pre-order. I'm kind of at a loss on how to handle that at the bank if I catch it while still inside. Something like "Excuse me mam, but those boxes of pennies are too new - even though I ordered them and you just hauled them out of the vault for me, I don't want them now". That would go over real well.
Can you recommend a good but inexpensive counter? I may want to count some into bags and sell that way.
[/quote]
1) Just take the BU Zincs home and keep them...my guess is that you will get about $50 per $25 box in a few years....I keep a few of these just for that reason.
2) A little BU Zinc hoard is nice, as I think Zinc is just about to take off in a big way....check out LME inventory...historical low and headed lower. Plus, you get the numis play describes above.
3) If you don't like 1) or 2) just take them to another bank in town and trade them for an older box....I have done this in the past...
4) Do not bother with a counter.....just get a good scale. SAMS CLUB sells a Royal Soverign Shipping/Freight scale for about $65. It has over 300# capacity, a wireless remote display, resolution to 0.05 lbs. Has a "Tare" function. Ryedale and I both have one of these and they are VERY accurate. When I weigh out $50 into a bag, it is within 15 cents. I use it to sell by the pound all the time. I'd much rather sell by weight and toss in a few more for good measure. Way easier than counting.
A good postal/freight scale is very useful for other activities...like buying postage for Ebay selling, etc.... |
Edited by - c140cessna on 08/29/2007 19:33:26 |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 08/29/2007 : 19:59:40
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| These Zincs you get from Brinks are not BU. |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 08/30/2007 : 00:17:52
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quote:
Originally posted by Tourney64
These Zincs you get from Brinks are not BU.
I'm not a coin collector....what are these brand new looking coins called?
M41/1USMI:US1Cu240000,CA1Cu328000,CA5Ni35000 |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 08/30/2007 : 07:32:14
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I am not a coin grader either but my guess is that quite a few of the "new" coins that come from coin services are BU and quite a few are not. This definition says the term is archaic, but is roughly equivelant to MS-60 to MS-62.
The coin counters and rollers used by the coin services certainly damage some coins (especially the ones on the ends), but others seem to make it through unscathed. Of course, you would definitly get better grades if you got bags from the mint instead, but I think the BU term can still be used on boxes...
"Definition: A BU coin is a coin that has never been circulated, and retains all of its original mint luster. BU stands for Brilliant Uncirculated. This term is archaic now that the Sheldon standard of numerical grading has come into vogue. A BU coin is usually described as MS (Mint State) today, and generally falls into the lowest MS grades (MS-60 through MS-62.) Higher MS grades are designated as "Choice BU" (MS-63 and MS-64) and "Gem BU" (MS-65 plus)"
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n/a
deleted
43 Posts |
Posted - 08/30/2007 : 14:23:10
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Thanks for all of those tips. I didn't even think of the numenistic value of the 2007's. I think I will just keep them. I find it hard to believe they sold for so much on Ebay. Seems like people could just walk into the bank and ask for 2007 boxes.
I just opened up an account at a new bank today that has free coin sorters. It is very convenient right on my way home from work. So now that means I have 5 CU branches and 1 bank branch to dump zincs. I can only dump less than $100 at any one time without filling up their bags, so it's good to spread it around.
I got my Ryedale a few weeks ago. I enjoy using the machine, and look at the actual Ryedale sorting process as my "reward time" after the hard work of hauling pennies home.
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 08/30/2007 : 15:13:17
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"Seems like people could just walk into the bank and ask for 2007 boxes."
I don't think that it is that easy. You can go into a bank and ask them if they have any 2007's, but what the bank gets from their coin service is random. So I don't think you can really speed the process much by asking.
When new coins come out, they seem to get concentrated near the mints. Living in the midwest, it was a long time after the new pennies came out before I even saw a 2007 in circulation let alone a whole box of them. The delay was plenty of time for E-Bayers living near mints to get the prices up over face and make some easy money.
By the time I started seeing boxes (I think I have 14 of them now), the price had dropped too low to make it worthwhile to sell them. |
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43 Posts |
Posted - 08/30/2007 : 15:15:44
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quote:
Originally posted by c140cessna
4) Do not bother with a counter.....just get a good scale. SAMS CLUB sells a Royal Soverign Shipping/Freight scale for about $65. It has over 300# capacity, a wireless remote display, resolution to 0.05 lbs. Has a "Tare" function. Ryedale and I both have one of these and they are VERY accurate. When I weigh out $50 into a bag, it is within 15 cents. I use it to sell by the pound all the time. I'd much rather sell by weight and toss in a few more for good measure. Way easier than counting.
A good postal/freight scale is very useful for other activities...like buying postage for Ebay selling, etc....
Is it true then that a $50 bag of copper should weigh 34.25 pounds? That's amazing that weighing 5000 pennies would be that accurate to within 15 cents. Also, what type of bags do you use and where do you get them? I'm thinking ahead to selling them in bags, not just storing. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 08/30/2007 : 15:23:23
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Here is an article on the subject of getting new cions from banks.
You must be logged in to see this link.
One interesting thing from the article is that Feds have a preference for sending out used coins to banks until their inventory gets to a certain point. That makes sense so they can figure out how many new coins the mint should be making. If the warehouse is full of old coins, why bother making new ones?
The second interesting thing from the article is that banks can specify to get new coins (I didn't think they could), but (and its a big but) they have to pay a fee for these special orders.
So if you can find a bank that will work with you, you can get them to do special orders, but they will almost certainly pass the fees on to you. |
Edited by - horgad on 08/30/2007 15:31:21 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/30/2007 : 16:51:35
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quote:
Originally posted by creekrat
Thanks for all of those tips. I didn't even think of the numenistic value of the 2007's. I think I will just keep them. I find it hard to believe they sold for so much on Ebay. Seems like people could just walk into the bank and ask for 2007 boxes.
That is one of the great things about this board.. everyone sharing ideas and experiences.
Yeah, it does seem like you could just walk into a bank and ask for 2007's, but as Horgad says. it's not that easy. Seems if you want 2007 coins, you can't get them, and if you don't want them you will get lots of them.. LOL. I keep walking into several of my banks and asking for 2007 nickels and I still can't get them. The other thing about the 2007 pennies is if you live on the west coast you can't walk into the bank and ask for P mint coins and if you live on the east coast you can't walk into the bank and ask for D mint coins. I know which of my banks got the new pennies first this year so I will be ordering heavily from those banks early in the year next year.. no matter what the coins are made of.
This week we will find out what those 2007 pennies are really worth. The box I have up on eBay is already bid up to a whopping 7 cents! 
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu695300(150000 Reserved):US5Ni9500:CA5Ni1150 |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 08/31/2007 : 04:03:40
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"The other thing about the 2007 pennies is if you live on the west coast you can't walk into the bank and ask for P mint coins and if you live on the east coast you can't walk into the bank and ask for D mint coins."
I live east of the Mississippi and all the new coins i've ever gotten from the bank have been from the Denver mint. I've never quite figured that out. Seems like it would be alot easier to haul them from Philidelphia. Idk, maybe the banks around here don't want to deal yankee made coins;) |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 08/31/2007 : 04:41:44
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| I was just looking at your auctions, HoardCopperByTheTon, and saw that that 2007 box was above face. I'm going to watch it and see how it goes. I have a couple boxes i could sell if it'd be worth the trouble. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/31/2007 : 14:34:02
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quote:
Originally posted by Jason
I was just looking at your auctions, HoardCopperByTheTon, and saw that that 2007 box was above face. I'm going to watch it and see how it goes. I have a couple boxes i could sell if it'd be worth the trouble.
Yeah, it went from 7 cents yesterday morning to a little over face sometime during the day. It is already above what the last box I sold on eBay went for. A couple more bids and I might just cover the eBay and PayPal fees. Heck, a few more bids and I might be making some official eBay second chance offers. Of the 12 Boxes I picked up yesterday, 8 were 2007. I picked up 48 boxes this morning. The first 2 I opened were solid 2007.. hope this is not a representitive sample. If they are all new I will only have about 15 boxes left over from Wednesday's pickup and the 24 boxes from tomorrow's pickup to get me through the holiday weekend. Already went through all 12 boxes I picked up yesterday. Guess I better get out to a few banks today and see if I can swap shiny new boxes for boxes of "Real" pennies.
Don't count on selling those 2007 pennies for much in the near term.. I am probably going to flood the market with 30 or 40 boxes at a fixed price next week.
With all these 2007 pennies I am getting, I am starting to understand how MormonMetal feels. He has a great attitude though.
One good thing.. I scored a good win on 6 rolls of automatic penny wrapping paper in an auction today.. you can never have too much wrapping paper.
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu695300(150000 Reserved):US5Ni9500:CA5Ni1150 |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 09/04/2007 : 00:28:20
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| I went to three banks friday looking for two boxes of pennies and not one of them had a mixed box. I've started asking for "not shiny" boxes because that's all i've been getting lately. I was pretty bummed and tried another bank. They had $50 in customer rolls which i accepted wishing they had boxes because i usually get better precentiles with the boxes. Well i sorted them friday and saturday (all except for one roll which was badly corroded. I put it in vinegar to eat the corrosion. They are drying right now.)and counted them sunday. I wound up with 1645 coppers giving me 33.23% for the 99 rolls. Before this my best precentile was just over 19%. Needless to say i will be at that bank tomorrow to try to hit that copper vein again. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 09/04/2007 : 01:11:50
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Don't feel bad Jason. The results are in on the 2007-D penny box. Went for all of $26! The bad news is I think one of my orders this last week was all shiny boxes. The worse news is that that order was the one they accidently doubled.. so it is 48 boxes! I have opened 6 so far and they have all been new. Will open the rest this week. The good news is I can sort those really fast. <G>
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time... and FAKE coinage.. a quarter ton at a time.. just for speculation"
HoardCode0.1:M49/15USCA:US1Cu700250(150000 Reserved):US1Zi150000:US5Ni9500:CA5Ni1150 |
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looking for a penny roller
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