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 Copper Penny Bullion Investing
 TD coin counter scam?
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metalmoney.ca
Penny Pincher Member


Canada
223 Posts

Posted - 02/12/2010 :  08:39:41  Show Profile Send metalmoney.ca a Private Message
You must be logged in to see this link.

this is from coinflation.com

I use the free TD coin counters, and this disgruntles me.

anyone have any experience? feedback?

sometimes the machine is still running...counting a penny here, a penny there...and i just hit stop. I wonder if i should whip out a magazine until it completely stops. I'll probably do a test-batch next time to ensure they know of problems (if any)


metal is a claim on future human labour. let's all go get some while the getting is good, eh?

slickeast
1000+ Penny Miser Member



USA
2533 Posts

Posted - 02/12/2010 :  08:47:33  Show Profile Send slickeast a Private Message
I use the DaLaRue machines and the count is usually over. The receipt always shows other coins on it when I dump my pennies.

Always hit the button for it to run one more cycle after you are done and it stops.

You don't have to be the BEST you just have to be.......SLICK

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Mikep2020
Penny Collector Member



USA
402 Posts

Posted - 02/12/2010 :  08:55:37  Show Profile Send Mikep2020 a Private Message
I weight every batch of pennies before bringing them to the machine, that way I kinda have an idea what the count should be within a small range. So far the machines have always been within 20-30 cents of the weight calculation in both directions.
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HoardCopperByTheTon
Administrator



USA
6807 Posts

Posted - 02/12/2010 :  09:00:51  Show Profile Send HoardCopperByTheTon a Private Message
I don't have those machines out here. I use my own counters.. and they are very accurate. The only machine I occasionally use is the CoinStar at my Credit Union. It has been very accurate.. based on my precounted bags.. it is just extremely slow.

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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fasteddy
Penny Collector Member



USA
298 Posts

Posted - 02/12/2010 :  09:00:52  Show Profile Send fasteddy a Private Message
My CU has a DeLaRue and slick said it...count is usually over. My CU has four branches....I checked each one before using...as i stated on a similar thread...Twice the DeLaRue counted SBA's when there weren't any and usually a dime or two gets counted when I make a run though....Like getting dimes in CWR's ...woo Hoo! Free COIN! although a small amount but free.
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smartinson
Penny Collector Member



USA
287 Posts

Posted - 02/12/2010 :  09:05:20  Show Profile Send smartinson a Private Message
I just took several bags of pennies to cash in and also found that my count and their count to be different. Usually the first bag is over and then from there the count is never what I have counted. Some over, some under but I decided to do as Slick suggested and push the start button again after I was finished and got a $.54 ticket. Over all I was $.04 over what I took in but without the last ticket I would have been -$.50. I assume the next person would have gotten that amount but probably would have not been credited with the amount they brought in. I only cashed in pennies but had that been quarters or halves, the amount could have been quite a bit.
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JobIII
1000+ Penny Miser Member



USA
1507 Posts

Posted - 02/12/2010 :  11:28:52  Show Profile Send JobIII a Private Message
I don't think this is too big a deal. But it's hard to see these machines as being 100% all the time. They require upkeep and most places don't love their machines the way we as customers would like them to.

We all have an idea of what we are returning. It's not a bad idea to know what you're returning, now you're being pro-active and not paranoid.

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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Cerulean
Penny Hoarding Member



USA
993 Posts

Posted - 02/12/2010 :  13:01:00  Show Profile Send Cerulean a Private Message
Not all coin counting machines are created equal. All coin counting machines are calibrated to varying degrees of accuracy. A badly calibrated machine could mistake a penny for a dime, or not even recognize a half dollar. Each machine's accuracy depends on the skill of the technician who maintains the machine, the amount of extraneous non-coin material that throws the machine off calibration, and the time between maintenance cycles.

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Cerulean's Standing Offer: $3/lb shipped for foreign coins
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metalmoney.ca
Penny Pincher Member



Canada
223 Posts

Posted - 02/12/2010 :  15:49:47  Show Profile Send metalmoney.ca a Private Message
Right, thanks for the input folks.

I think i'll count out a test batch before my next dump. If it's off by enough to complain, i'll suggest the machine be serviced... unless it's over, in which case i'll shut my mouth.
(I didnt realise there were so many on here who actually got counts OVER what they put in.)

metal is a claim on future human labour. let's all go get some while the getting is good, eh?
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psi
Penny Collector Member



Canada
399 Posts

Posted - 02/12/2010 :  17:02:17  Show Profile Send psi a Private Message
Do the US TD banks use the same machines as Canadian ones do? I think the Toronto one I go to (Danforth branch) uses machines from Coinstar. I have suspected shorting at that bank before but never confirmed it, it may just be wishing I had more money than I do though.
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kirkland
New Member



USA
0 Posts

Posted - 02/12/2010 :  17:15:08  Show Profile Send kirkland a Private Message
I counted out $30 in pennies once and double checked my own count. I then took it to one of these coin machines with button "A" and "B" at a credit union. The machine counted $31.02 instead of the exact $30. I was shocked, but I didn't say anything. It is nice to get that extra money, but it equals out when you consider the shortages over the months. I haven't counted all my batches, but I'm sure that I have been shorted and longed many times at my coin counter dumps.
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fb101
Administrator



USA
2856 Posts

Posted - 02/12/2010 :  19:34:32  Show Profile Send fb101 a Private Message
I have found a couple of times that jammed items (buttons or such) can cause a lot of rejects which don't necessarily make it to the reject tray. I've seen a couple of time them cleaning out about $30 from the reject chute that didn't slide to the tray. the great majority of the time they are very very close to what I expect. Sometimes a little short, sometimes a little long, evens out in the long run.

edit: let me qualify that. Every one I ever tried undercounted halves, so I almost never dump halves in to them and when I do I do the extra run (more...) and come up OK.


Edited by - fb101 on 02/12/2010 19:36:11
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bman
Penny Collector Member



USA
425 Posts

Posted - 02/12/2010 :  20:48:14  Show Profile Send bman a Private Message
If I am dumping a mix of coins I make sure the last bunch of coins into the hopper is all pennies, that way if it misses counting anything it will be pennies.

check out my coins for sale on ecrater : http://bmanscoinsforsale.ecrater.com/
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