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Roberto
New Member
USA
9 Posts |
 Posted - 04/01/2010 : 23:40:23
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Hey all:
I have no problem getting supply. I am currently getting 8 boxes a week, and will jump that up as soon as I get the dump situation resolved.
I am using coinstar as a dump and getting gift certificates for Lowes and Amazon. If you get gift certificates, Coinstar takes no service fee.
It takes a Coinstar about 15 minutes to go through $60.
Does anyone know how many pennies a Coinstar will take before it "chokes"? I am backed up and have about $1k in zinc to return...
Roberto
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/01/2010 : 23:49:13
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"My you have a lot of coins! Please wait while we catch up."
They do count kind of slow. Your feed rate sounds about right.. you might get it up to $300 an hour if you learn to feed it perfectly. You really need to look into alternative dump plans. How much do you want to spend at Lowes and Amazon.. and how long to you want to stand in front of that Coinstar? They will hold quite a bit. I occasionally use the one at my Credit Union and I thought I had finally filled it up the other day when it hiccuped and shut down. It turned back on.. and started dumping the pennies in a second bin. It will easily hold more zinc than you will have the patience to feed it. 
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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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Roberto
New Member
USA
9 Posts |
Posted - 04/02/2010 : 00:16:11
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HoardCopperByTheTon:
Thanks for replying!
I've read many of your posts in the past two years, and appreciate your experience.
I can go through A LOT of gift certificates, as I own a business that needs lots of janitorial supplies & what not. Lowes can supply a lot of that.
My business also needs lots of electronics, and I can get those through Amazon.
I want to get as efficient as I can, and ramp up my operation...
I am still searching for a bank with a free coin counter. I will try checking out all the credit unions in town...
I have a Ryedale and sort $200 a week. It takes me about 45-50 minutes to go through $100 (unwrap, sort, quick sort for wheats).
I frequently go to the bank on other business and pick up pennies when I have other business at the bank...
I would eventually like to get my efficiency level up to about $300/2 hrs. for a complete cycle (pickup, sort, dump).
If I can get my dump situation straightened out, I would consider investing in a wrapping machine. I think that I would need to be doing AT LEAST $500/week to make that a worthwhile purchase.
Any thoughts about that?
Thanks,
Roberto |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/02/2010 : 00:24:07
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Roberto,
First.. Lowes is a great place to shop. I buy a lot of stuff there myself. Second.. if you can pick up a change of address kit at the post office it will usually contain a 10% off coupon for Lowes. This will help your gift certificates go further.
I am still searching for a bank with a free coin counter too.. lol.
The automatic coin rolling machines are horribly expensive.. but they sure are handy when you need to dump a lot of zincs. Banks are much more accepting of machine wrapped rolls. A better and cheaper solution would be to find a bank that will accept loose count coins in bags. A good coin counting machine is much cheaper.. and faster than an automatic coin rolling machine.
Welcome to the forum Roberto! |
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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AGCoinHunter
Penny Hoarding Member
USA
685 Posts |
Posted - 04/02/2010 : 09:28:10
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Also Home Depot will match those 10% coupons from the PO. Use them all the time.
I use coinstar brand machines at my CU. The nice thing is they reject silver so if you miss one, you will get it back... :) They are slow though. And get that lots of coins message all the time if I am dumping nickeles or cents. With halves, I dont see it much. I have had one fill up and completely shut down on me before. Even had a few of my coins stuck in it. I got what I could out and cashed in my voucher. |
"All tyranny needs to gain a foothold is for people of good conscience to remain silent."
-Thomas Jefferson
"There is no difference between communism and socialism, except in the means of achieving the same ultimate end: communism proposes to enslave men by force, socialism—by vote. It is merely the difference between murder and suicide." - Ayn Rand
________________________________________________
Lenin: Class-based International Socialism
Hitler: Race-based National Socialism
Obama: Class- and Race-based Post-National Socialism
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Edited by - AGCoinHunter on 04/02/2010 09:30:17 |
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twocents
Penny Collector Member
398 Posts |
Posted - 04/02/2010 : 09:49:50
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| I would estimate each Coinstar holds 40 gallons of coins. Of course it depends on the starting point as well. |
Just my two cents! |
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AGCoinHunter
Penny Hoarding Member
USA
685 Posts |
Posted - 04/02/2010 : 10:23:24
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quote:
I would estimate each Coinstar holds 40 gallons of coins. Of course it depends on the starting point as well.
From my understanding it holds a certain weight. Once that weight is hit it shuts down. |
"All tyranny needs to gain a foothold is for people of good conscience to remain silent."
-Thomas Jefferson
"There is no difference between communism and socialism, except in the means of achieving the same ultimate end: communism proposes to enslave men by force, socialism—by vote. It is merely the difference between murder and suicide." - Ayn Rand
________________________________________________
Lenin: Class-based International Socialism
Hitler: Race-based National Socialism
Obama: Class- and Race-based Post-National Socialism
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TXTim
Penny Hoarding Member
629 Posts |
Posted - 04/02/2010 : 12:12:02
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Too bad you have to deal with Coinstar.
I feel your pain!
Try to get your bank to accept $50 bags - It takes about 30 seconds!
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Beer is my currency. |
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twocents
Penny Collector Member
398 Posts |
Posted - 04/02/2010 : 13:04:52
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| I have seen the inside of the Coinstars. There are two cubic drums. I would estimate each holds 20 gallons. |
Just my two cents! |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 04/02/2010 : 13:12:30
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| you really need to do the leg work to find a good dump bank. good = accepts bagged deposits. to make that work, you need a counting machine (about $250), a cart, and if you do halves, a strong back (50 lb bags). dump bank is more important than the source bank imho. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 04/02/2010 : 15:24:30
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| Have you tried looking at credit unions? I joined a local one last week. They have a coin machine on site. She told me as long as it is < $100 the service is free. |
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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motos
Penny Sorter Member
41 Posts |
Posted - 04/02/2010 : 18:30:16
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| Yea I would definitely look into a bank or credit union with a fee free counter. I know almost every TD banknorth has a coin counting machine thats pretty quick. It swallowed 25 dollars in pennies in about 30 seconds. I think the other suggestions are good too. If you really do have that much to dump and are serious about keeping up you may as well try and find a bank that accepts the bagged coins and dump them that way. |
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Coinstar Issues?
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