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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
 Posted - 02/04/2010 : 01:52:34
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So I finally have a B of A account and they allow you to turn in coins in those plastic bags without having to wrap them or go to coinstar.
I am relieved since I have been handrolling and turning the Zincolns back in that way (Chase doesn't allow me to turn them in unless they are rolled).
So my question is, do you guys count them before turning them in? I hand sort so was just going to throw them in the plastic bag as I was sorting. That way I have an educated guess of how many I have in there without having to count them all. what do you think?
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SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/04/2010 : 02:04:07
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Congrats on getting a good zinc disposal plan in place. I always count mine before turning them in. Just fire up the pair of Mach 7's and rip off 4 bags in the morning before work so I will have lunch money. Depending on the branch, some will require you to state the amount you are depositing on the bag, and some will just count it for you and deposit it into your account. A standard bag weighs about 28 pounds if you want to estimate how many you are returning.  |
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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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 02/04/2010 : 07:29:03
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| All the banks I deal with require all coins to be run through their counters, they will not accept bags or even my machine rolled rolls. I spent a lot of money buying myself a good coin counter and bought a case of plastic coin bags thinking I could count out 5000 and return in the sealed bags ready for them to throw on the truck and send them on to the FED. I thought this would save us both a lot time. And actually would save them money as their employees would not have to stand there counting the coins and they would not have to supply a bag. And if by some chance any bag was off by a penny or two they could just take it from my account. But NO they have to cut open my sealed bags or bust open any rolls I bring in and run them through their counter and come up with 5000 coins every time. So I just weigh them now I put a strong 28 lbs. in a canvas bag and take them in that way. My counting machine just sits there and collects dust. |
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. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/04/2010 : 08:01:17
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I have 1 bank that will take bags. I run them through a ScanCoin 313 that spits out 2500 cpm. I have not had any problems with short bags.
Standard bags are $50, guesstamation is not the best way to go. |
You don't have to be the BEST you just have to be.......SLICK
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kirkland
New Member
USA
0 Posts |
Posted - 02/04/2010 : 08:04:52
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| Banks that I use for dumps are different from each other. Chase requires me to roll the pennies up, and the local banks have counters I can use. |
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fasteddy
Penny Collector Member
USA
298 Posts |
Posted - 02/04/2010 : 09:01:54
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| Use a good scale, not a bathroom scale, one that can weigh in whole gram or fractional not really important here,,,what matters is the quality....I weigh up 6250 grams x 2 = one 50 $ bag. Within a few days the B o A deposit hits my account and the most I have been off was 3 cents and I believe it was on their side not mine. A good scale is certainly less costly than a good counter. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/04/2010 : 09:26:28
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I have a really good scale too.. I just use it to verify zinc and copper box weights. Used to use it to preweigh incoming boxes before opening back in the days when we were all getting solid zinc skunk boxes.. really fast sorting that way.
If I really need to count the zincs out fast my Mach 7's can count out 4,000 coins per minute.. so the pair of them running in tandem can crank the zincs out almost faster than I can load them. If I want to go at a more leasurely pace, I use one of my 3 Glory CN-12 machines.. they poke along at an easy to feed 1800 cpm each. A good counter.. or more, certainly makes things easier.
What model is your counter NDFARMER? I might need it for my collection. |
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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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 02/04/2010 : 09:45:52
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| You guys are lucky your banks take bags. I thought we were supposed to be so trusting here in the Mid West but the banks sure aren't. Hoard my counter is a Klopp. I bought it new and paid big money for it so you are probably not interested in it. I have only run maybe a dozen bags through it. It is a nice portable machine I thought maybe I could use it to count some penny drives at some schools but have not heard of any penny drives in my area. I also bought it to roll coins, it works real nice for that you just set the counter on 50 and it spits 50 coin into a shotgun wrapper you can fill quite a few rolls in a minute. Then I bought a crimping machine as well to close up the shot gun rolls. So that also sits there collecting dust because I bought a Glory WS-10 automatic rolling machine to roll up my copper and wheats. |
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. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/04/2010 : 09:56:54
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Good brand. But you are probably right.. if you bought it new, you are buried in it.
It's not such an issue of trust.. all the bags we turn in have our name and account # on them. It's not like they couldn't just automatically zap our accounts if the count of a bag were ever off. It may be that the banks you are dealing with our shipping it back directly to the FED rather than a coin processor. |
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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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 02/04/2010 : 10:49:27
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| My bank takes them back loose and that is real nice no counting at all. Just fill a bucket and haul in. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 02/04/2010 : 11:02:32
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| Yes that is correct the bags go directly to the FED. But couldn't they take out of my account a penny or two if I were short? Yes it is a nice counter, works good for rolling if you don't have a rolling machine but I am sure I would be lucky to get half of what I paid for it. Plus I have a new crimping machine sitting right next to it. When I got started sorting copper I thought I would do a bag or two a week I didn't think I would get into it nearly as big as I have. Plus I thought bringing in counted bags that were sealed would be a plus as far as returning zincers. I should have took my time and worked into it slowly and researched things more. But then when I do something I usually do it in a big way. In a way it's Andy's fault that machine just keeps calling for more pennies. You just can't feed it enough. (LOL). That's probably why my wife is about ready to divorce me, because of my "CRAZY" penny hobby. She tells people about my crazy hobby and how she thinks I have lost it. Maybe she is right maybe I am nuts. I guess time will tell if I live long enough. I just wish we were getting at least 2 X face. Then I might be able to show her that I am not as crazy as she thinks I am. |
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. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/04/2010 : 12:59:08
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| HCBTT, I bet those Mach 7's cost about 330 lbs or more in zincs(used price). I got my ScanCoin for less than 110 lbs of zincs. Its not as fast as those beasts you have, but I just take the loose in 5 gallon buckets into the lobby and let the DLR's do the work. Cheaper than buying more equipment, and if it breaks, they get a bill not me. |
You don't have to be the BEST you just have to be.......SLICK
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 02/05/2010 : 10:55:50
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| Most of the banks that i deal with. All have their bags already addressed to the Federal Reserve Bank. but they also don't accept unrolled coin to be put directly into those bags. Also they wouldn't give me immediate funds for a bag drop, it would have to sit for a week. |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/07/2010 : 01:09:40
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quote:
Originally posted by slickeast
HCBTT, I bet those Mach 7's cost about 330 lbs or more in zincs(used price). I got my ScanCoin for less than 110 lbs of zincs. Its not as fast as those beasts you have, but I just take the loose in 5 gallon buckets into the lobby and let the DLR's do the work. Cheaper than buying more equipment, and if it breaks, they get a bill not me.
Actually Slick.. I got the second one for $100 on eBay.. that's only 56 pounds of zincs! I knew exactly what it was since I already had one. Besides, even at 330 lbs of zinc they would be a good deal by the pound.. since they each tip the scale at a little over 200 lbs. As you know.. I don't have that coin lobby machine option out here on the left coast.. so I have to improvise.
I get immediate credit for the bags I turn in. I turn them in.. walk out to the ATM.. withdraw the money.. go next door.. and buy more coins! |
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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garnede
Penny Collector Member
USA
386 Posts |
Posted - 02/07/2010 : 13:20:56
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| I made my first penny dump in bags this week. It was nice to not have to spend hours rolling coins to return them. My bank gives instant credit and adds or subtracts based on their count. HCBTT I think I need a coin counter, but I don't want to spend all my sorting money getting one. I sort $200-$400 a month. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/07/2010 : 13:29:17
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| Coin counters are really handy.. especially for selling copper or turning in bags at the bank. I have several of them.. but I hoard them.. lol. You can get really close with a scale until you get a counter. If you are just hoarding copper and your bank will do the counting and make the slight adjustments you can get away without a counter for a while. |
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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garnede
Penny Collector Member
USA
386 Posts |
Posted - 02/07/2010 : 18:54:53
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| Thanks I used a bathroom scale with a .2 pound accuracy. and turned it in at 28.2 pounds. |
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marine70
Penny Pincher Member
USA
150 Posts |
Posted - 02/08/2010 : 06:48:12
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| I have no problems turning in rolled or using my banks coinstar type machine. Every once in a while I roll some for the tellers. |
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rosco
Penny Collector Member
USA
254 Posts |
Posted - 02/10/2010 : 00:14:26
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Hi Marine70 You roll tellers I think we are supposed to be nice to them
I'm having trouble finding 50 cent coins In the Big city of Tucson Small towns were better |
Old Geezer a HAND Sorter |
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dixiebooks
Penny Sorter Member
USA
92 Posts |
Posted - 02/12/2010 : 18:58:58
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| I counted the first few boxes and maybe even a bag or two. After that, I just throw them in a bucket. My CU throws them into the counter/bagger and credits my account. -js |
James.M.Wagner
eBid, my faorite greedBay alternative: http://us.ebid.net/perl/normal.cgi?ref=800619&mo=register-main |
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Turning coin in at the bank in coin bags
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