| Author |
 Topic  |
|
|
kirkland
New Member
USA
0 Posts |
 Posted - 01/28/2010 : 08:14:13
|
|
I understand that so many of you purchase bags of pennies at your banks. I have been to many banks and asked for bags, but they all only have boxes. Where does everyone get their bags of pennies? I have never gotten one before, just boxes. Do you get them at small banks, large banks, or credit unions?
|
|
|
marine70
Penny Pincher Member
USA
150 Posts |
Posted - 01/28/2010 : 08:20:33
|
| If any bank you go to has a self counting machine like coinstar, tThey will have bags. I dump at my bank that has one of these. However I don't ask for the bags there for obvious reasons. Some banks would rather sell there bags than pay the armored car fee. |
 |
|
|
fasteddy
Penny Collector Member
USA
298 Posts |
Posted - 01/28/2010 : 08:26:29
|
| It may be regional or we just have not found the right bank....I have not been able to find bags in my area either...but i have been doing well with CWR's with lots of dimes in them. Maybe some of the other Texas members will give a shout if they are getting bags or not. |
|
|
|
dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 01/28/2010 : 08:30:35
|
| In the Dakotas it the bags in fact I never have gotten a box up here. I think it depends if the coin come from the Fed or are just sent to a main point and then sent back out. ND uses the state bank of North Dakota as there supply point. |
|
|
|
kirkland
New Member
USA
0 Posts |
Posted - 01/28/2010 : 08:35:25
|
Wow. I guess it's a Texas thing, eh? :-) I get plenty of customer wrapped rolls too, just no bags.
Many of the banks I visit do have counting machines but apparently don't have bags. Strange, isn't it? |
|
|
|
TXTim
Penny Hoarding Member
629 Posts |
Posted - 01/28/2010 : 10:44:18
|
quote:
Originally posted by kirkland
Wow. I guess it's a Texas thing, eh? :-) I get plenty of customer wrapped rolls too, just no bags.
Many of the banks I visit do have counting machines but apparently don't have bags. Strange, isn't it?
Most of the banks in Houston with counters refuse to sell bags to customers because they want their coin service (distributor like Brinks, etc.), to count them and reconcile. |
Beer is my currency. |
|
|
|
Dave
Penny Pincher Member
156 Posts |
Posted - 01/29/2010 : 05:38:11
|
| Only CWR's and Brinks boxes of rolls here in Rochester, NY, but I have never asked for bags either. |
|
|
|
NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 01/29/2010 : 07:39:06
|
| If you can get them bags are the only way to go. I am so spoiled by getting bags that if my banks don't have bags I don't even take boxes. Takes a long time to bust open $500.00 worth of rolls. In my area we can't get customer wrapped rolls. All the banks require all rolls to be broke open and run through their counter, even my machine wrapped rolls have to be broken open and run through the counter. I am lucky that I have several self serve coin counter that I can use so I can take my zincers back loose by the bag full. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/29/2010 : 10:15:13
|
If only I could get bags.. I could really get serious about my penny sorting.  |
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. |
|
|
|
killerken53
Penny Pincher Member
172 Posts |
Posted - 01/29/2010 : 10:17:39
|
I am still a hand sorter, but I can get bags off the counter at the local credit union. They don't care if they sell to me or send it with their carrier. It is amazing what you can get. One bag had 200+ wheats in it, the current bag is 75% copper, other bags are typical 20-25%.
Go look for the local banks/credit unions. They aren't weighed down by management and are a lot more flexible with what they can do to please a customer. |
Edited by - killerken53 on 01/29/2010 10:18:15 |
|
|
|
cwgii
Penny Hoarding Member
USA
924 Posts |
Posted - 01/29/2010 : 10:25:08
|
tucson , no bags. one cu will not sell me cwr. as they are afraid that someone will complain of being shorted.
while another loves me. as they do not have to break the rolls and send them out. so i end up saving them time and money.
i feel that cwr are a bit of a gamble due to the shortages. but off set by the chance of solid cu rolls like i got last week.
that said. often i end up with boxes. due to low numbers of cwr. |
|
|
|
TXTim
Penny Hoarding Member
629 Posts |
Posted - 01/29/2010 : 11:52:33
|
quote:
Originally posted by HoardCopperByTheTon
If only I could get bags.. I could really get serious about my penny sorting.
 |
Beer is my currency. |
|
|
|
Copper Catcher
Administrator
USA
2092 Posts |
Posted - 01/29/2010 : 14:54:28
|
The Federal Reserve buys coin from the Mint at face value, and the Mint pays the expense of transporting the coin from its production facilities to the Reserve Banks.
The Reserve Banks primarily act as wholesalers by providing coin to depository institutions in minimum quantities of two thousand pieces or more, depending on the denomination. Independent of their role as Federal Reserve coin terminal operators, armored carriers often provide coin in smaller increments and also provide wrapped coin for a fee to depository institutions and retail customers. Depository institutions order coin from the Reserve Banks to meet their customers' demand. Reserve Banks normally fill these orders from their inventories by first paying out circulated coin, and once the inventory of previously circulated coin is depleted, using new coin to meet demand.
The Federal Reserve's coin operations consist primarily of storage and distribution but not processing because coins do not require fitness sorting. In addition to the Federal Reserve offices, Reserve Banks use more than 100 additional sites, known as coin terminals, to handle nearly 80 percent of the Federal Reserve's coin volume. Coin terminals, which are generally operated by armored carriers, reduce the transportation required and make the coin distribution system more efficient. Many retailers and depository institutions need to have coin wrapped, a service provided by armored carriers. Depository institutions order and deposit coin, like currency, to meet customer demand, and the Reserve Banks adjust the appropriate bank's account accordingly. Rather than piece-verify coin deposits, the Reserve Banks and the coin terminals generally weigh coin bags to verify the value of coin received. The Reserve Banks account for the coin in their vaults and at the coin terminals as an asset on their balance sheets.
|
|
|
|
cecropia_moth
Penny Pincher Member
USA
222 Posts |
Posted - 01/29/2010 : 16:33:43
|
NDFARMER -
Your no CWR's statements sound a lot like those I recently posted. I couldn't find CWR's around here if my life depended on it. Banks just will not accept them here...all rolls need to be busted open and run through the coin counters. It has put a real damper on my chances of finding a roll of solid silver as some members have reported being able to do. We have to take and sort what we can get.
J |
|
|
|
NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 01/29/2010 : 16:54:10
|
| cecropia moth It does limit us on finding good CWR's but all we can do is get bags and hope some good ones made it through the counter. Ask your banks to let you know when their 50 cent bag is full so you can buy it from them. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
|
|
| |
Topic |
|
Bags of Pennies
Forum Locked
