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goldstar
New Member
USA
15 Posts |
 Posted - 02/11/2010 : 15:31:18
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Hello all, I have been adamantly interested in collecting coins as well as stockpiling precious metals, and just stumbled upon this beautiful site!
I am going to start right away, but have some simple questions that have cropped up after reading through the first 15 pages of topics all the way through.
1. How do I ask the bank for circulated rolls, by just asking?
2. What is the nomenclature for quantity, say I want $100.00? Or do I order by the box?
3. When ordering for the first time from a branch, should I be walking right in and speaking to the standard teller, and then verifying how long, or can I ask for smaller amounts?
4. Where can I buy or acquire paper wrappers for the pennies?
5. I went to the site for the penny machine that sorts the copper from the non copper, but is there a machine that I can buy that will put the zinc pennies into the wrappers 50 each sothat I dont have to repack by hand?
I know I am asking a bunch of questions but these are the ones that I was hoping I could get clarification since I want to hit the ground running right away.
Thank you in advance, and I will be very active going forward. I am more than excited and wish I found this hobby 15 years ago when I was a boy.
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A penny saved is a penny earned. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 02/11/2010 : 15:35:55
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Goldstar
Different ways will work for different people. I found that it is the best just to ask for what you can get.You may have to have a account with them before you can get coins. It is just trial and error. Glad that you have join us here. |
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toomuchcopper
Penny Collector Member
USA
406 Posts |
Posted - 02/11/2010 : 15:44:42
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| the bank will give you penny wrappers for free...if you are going to handroll them. the best bet is to try and find a bank with a coin counter, if you cant find one, yes you can buy a coin roller for around $100....good luck |
visit www.crazycoinguy.com
for information on how to sort, what to sort, and sorting equipment. We also sell copper pennies in bulk, and other coins. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/11/2010 : 16:27:56
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Welcome
#1 Just ask for the rolls customers brought in. They want to get rid of these. Take all they have. I had a bank call me today because they had $100 they wanted to get rid of.
#2 Ordering boxes is easy. Ask the head teller at the bank you go to the most. Ask for $100 or 4 boxes. Then go from there. If you need more ask for more after the 1st pickup. ALWAYS pick up on time.
#3 Boxes are $25. You need to speak to the head teller, she does the ordering. Smaller amounts can be picked up from just about any bank(member or non-member) Remember that they want to get rid of the customer wrapped rolls
#4 Ask for them at the banks. You can order them, but why if you can get them for free
#5 The Ryedale site? This is a wonderful machine to sort copper from zinc. $180.00 + per hour.
There are several machines that will help in re-rolling the zincs. A coin counter with tubes. +/- $200.00. Or you can get a automatic rolling machine. They can be costly. SOme on the forum have them and they can tell you more about these.
Look for a bank or credit union that has the free coin machines in the lobby. They are what you really want to use. Membership is required to avoid fees.
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You don't have to be the BEST you just have to be.......SLICK
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goldstar
New Member
USA
15 Posts |
Posted - 02/12/2010 : 08:19:01
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Thank you slickeast for your feedback.
I had one more question about ordering 'boxes' what stops those boxes from being new uncirculated? Just wondering if that has happened, or can happen. |
A penny saved is a penny earned. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 02/12/2010 : 08:37:28
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| If you get new, uncirculated boxes that is better than a mixed box. Just list them on E-bay. Make 2-3X face value for them and order more. The 2009's sold for 10X face and more the first week or two for each release. |
You don't have to be the BEST you just have to be.......SLICK
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goldstar
New Member
USA
15 Posts |
Posted - 02/12/2010 : 09:05:04
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Another question, (sorry if I am bombarding you guys) can someone help clarify the following:
-box (hom much is that?)
-bag "
-loose bag, thats for the 'penny arcade' etc?
-When I dump, if they are rolled, can my bank deny me?
-If loose at a penny arcade, could a bank deny you running it thru the machine?
BTW I sorted my first 25$ last nite and got ~$7.5 of copper and 20 wheat pennies and one error penny.
Thank you agiain for all of your tips! |
A penny saved is a penny earned. |
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kirkland
New Member
USA
0 Posts |
Posted - 02/12/2010 : 09:09:28
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Box: $25
Bag: $50
Your bank will not deny you returning rolls unless they have a coin counter. In that case, simply unfold the ends of your rolled coins and dump the contents into the coin counter machine. Chase accepts rolled coins and many local banks have coin counters.
Don't know the answers to the penny arcade questions, sorry!
Nice percentages! Be sure to report any pre-1940 wheats in uthminista's pre-1940 wheats thread. Also, report your averages and your Fed District in beauanderos' Federal Reserve Bank Copper Percentages thread. Enjoy!
Kirkland  |
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fasteddy
Penny Collector Member
USA
298 Posts |
Posted - 02/12/2010 : 09:12:48
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I always ask for new pennies and when the teller says they don't have any, then I look dissapointed and say that I will accept the older pennies
My favorite teller at a B of A....Me: Hi Aarti can I get some boxes today...Aarti: yes, How many boxes today? NICE.
And this bank is the CLOSEST bank to my House. Real NICE. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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kirkland
New Member
USA
0 Posts |
Posted - 02/12/2010 : 09:22:11
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| I always get tellers who say, "Back for more pennies, eh?" Of course, the answer is "yes" every time, but I always try to ask for nickels and halves to spread the focus out of just pennies. No one has yet to reject my request of getting coin. I have noticed that the younger tellers are more happy and willing to help you than the older ones who hassle you and ask if it's for a business and need to charge you extra. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/12/2010 : 09:24:51
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Welcome to the forum goldstar. Sure, banks can always deny you, or try to charge you fees no matter what form the zincs you are returning are in.. but it doesn't usually happen until you are doing serious volume. If you don't believe they can deny you, try showing up one day with 2300 rolls of pennies. Members here have even been cut off from using lobby coin counting machines, but that is only when you are dumping sigificant volumes at one branch.
Automatic coin rolling machines are the best for rolling pennies.. but you don't even want to know what those cost. I have 3 of them.. and to quote my favorite animated corpulant 3rd grader.. they are "Ssswwwweeeeeeeeeeeeeeeeeeeeeeeeeeeeeet!" If you are in "Penny Arcade" country, that sounds like the best method of dumping zinc for you.. no rolling.. no machines needed.. instant credit for your rejects.. as long as you have an account at that bank and there are no fees.
If you want to roll to dump at another bank, you can reuse the rolls that the pennies came in.. that is the environmentally sensitive way.  |
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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goldstar
New Member
USA
15 Posts |
Posted - 02/12/2010 : 09:29:12
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Thank you for the box/bag clarification, it was bothering me!
Where can I get sturdy canvas bags while I look for a 'dolly'?
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A penny saved is a penny earned. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/12/2010 : 09:34:49
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Sometimes you get lucky and a bank gives you some of those canvas bags for free when you are taking out lots of rolls. You can also buy them from bank supply companies, but the shipping can be high.
I have found that canvas totes with handles work best for me for smaller pickups. With a pair of those you can tote out about 400 rolls of pennies at a time.. more than you will usually score at a drive-by. You only need a dolly if you are going to be doing more than 6-8 boxes at a time.. and it might take a little while to work up to that level. |
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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goldstar
New Member
USA
15 Posts |
Posted - 02/12/2010 : 09:53:59
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| Argh, still learning the terminology. What does 'cwr' stand for? |
A penny saved is a penny earned. |
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kirkland
New Member
USA
0 Posts |
Posted - 02/12/2010 : 10:44:26
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CWR= Customer Wrapped Roll, goldstar. Let us know if there are any more terms you would like explained!
Kirkland |
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goldstar
New Member
USA
15 Posts |
Posted - 02/12/2010 : 10:55:36
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When you say a 'bag' of pennies to order, and or return, do you mean loose pennies or pennies that are rolled? I am trying to decipher the idea behind having a bank weight them versus using a coin machine, or handrolling. Thanks again new friends!
P.S. I am gonna be picking up another $25 or $50 today, and do my first $18~ dump at the bank with the old hags who always give me a hard time :D |
A penny saved is a penny earned. |
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cecropia_moth
Penny Pincher Member
USA
222 Posts |
Posted - 02/12/2010 : 11:24:06
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Don't dump them where you got them...if you do that, you'll really get to know a hard time, as in like maybe cutoff.
Jeff |
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goldstar
New Member
USA
15 Posts |
Posted - 02/12/2010 : 12:25:42
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Lol, yes I think I got that part figured out :), thank you so much. I have wachovia as my source and I want to use PNC as my sink as I have account there already, and at that particular branch they are the worst, so I figure to 'punish' them with the zincos.
BTW, on my lunch break at work I picked up another $50.00 LET THE GAMES BEGIN! |
A penny saved is a penny earned. |
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goldstar
New Member
USA
15 Posts |
Posted - 02/12/2010 : 12:42:38
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Another question,... the first $25 was loose rolls from persons, the $50 is directly from the FED!!!
I should be tracking the differences right? I will be cracking into hopefully half of it tonite, I am hoping to hand sort $100.00 a week, two nites of sorting at $50.00 a nite, until I learn enough, then maybe get a machine. |
A penny saved is a penny earned. |
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fasteddy
Penny Collector Member
USA
298 Posts |
Posted - 02/12/2010 : 12:55:16
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Man, it sounds like you got it good...already... This site is sic  ...penny sorting is sic ...I have two pickups later today....10 boxes each...I think I got it good too ....I have tried to shake it off but IT keeps coming back
oh don't forget the handsoap and a scrub brush...pennys are nasty |
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garnede
Penny Collector Member
USA
386 Posts |
Posted - 02/12/2010 : 13:05:51
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Boxes are always $25 some members can get $50 bags. I do not buy bags for them the banks usually have them one of 3 ways, in a box, in a canvas bag, or thy put them in plastic coin bags. Those are the best because you can return loose coins in them. I have received lots of boxes and 6 or 7 canvas bags. The canvas all came when buying at least $50 worth of pennies.
Unless you live near a FED branch, the machine wrapped rolls or bank wrapped rolls (BWR's) actually come from armored car services, which provide coin wrapping/counting for banks and businesses. These services cost banks money. So I always ask for CWR's if possible for 2 reasons, banks like to get rid of these and they are quicker to open. Also if you need to return them rolled you can reuse the wrappers. You will always have extra because you will be returning 20-30% less than you are buying. If the bank does not have CWR's then I accept the BWR's. I get better copper percentages from CWR's and better wheat counts out of BWR's. |
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goldstar
New Member
USA
15 Posts |
Posted - 02/12/2010 : 23:59:02
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Wanted to report my first $75.00 sorted, actually 7800 pennies total, hand sorted
7800 Coins Sorted, of which 2 were $25 fed boxes, $25 in cwr and about $3 in loose change from family/self
$50 came from two $25 fed boxes from Wachovia, the rest was cwr and about $3 in loose change
1959-1981: 2174 27.870%
Wheat: 63 .008%
Canadian: 23 .003%
Panama cent: 2 -
Bahamian cent: 2 - |
A penny saved is a penny earned. |
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cesario
Penny Pincher Member
129 Posts |
Posted - 02/13/2010 : 02:18:49
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quote:
Originally posted by goldstar
Argh, still learning the terminology. What does 'cwr' stand for?
Visual guide. Over 9000 hours invested in MSPaint:
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Dalmatian929
New Member
15 Posts |
Posted - 02/15/2010 : 14:26:34
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If you are just starting, you are probably going to start off small scale. Purchasing a coin rolling machine is probably a waste of money. I usually just go to the bank and ask for a "box" of pennies. I hardly ever have a problem. I then dump the zincs at the bank on a different trip, occiasionally a different bank if I am on the other side of town. Most banks have a machine and if you are dumping around $18 of pennies no one will think anything of it.
I never dump zincs and then ask for a new box on the same trip. Not because I am worried about the copper percentage of dumping and collecting at the same bank - I just don't want to be THAT GUY.
Of course, I am a small time hoarder. I only search 2 boxes a month and I have a bank within walking distance.
Welcome and good luck!
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rodebaugh
Penny Collector Member
USA
377 Posts |
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New and Enthusiastic Member looking for some tips
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