| Author |
 Topic  |
|
|
2cents
Penny Sorter Member
USA
44 Posts |
 Posted - 11/20/2007 : 12:24:50
|
Okay, I've finally decide to start buying boxes of cents from banks.
Until now, I haven't gotten many rolls from banks.
I mostly buy from dealers who have already sorted out the zinc.
I feel really uncomfortable going in and saying that I want 1, 2 or more boxes of pennies.
Can you guys give me some good lines to use or methods of ordering ahead and picking up later?
I'm also thinking of just hoarding without sorting , at least for now, since I don't have any sorting machine.
And I'm also thinking of maybe hoarding zincs too.
Thanks for all ideas.
2cents
|
|
|
horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 11/20/2007 : 13:03:05
|
I've had no problems getting up to 10 boxes a week from banks where I have an account by simply telling them about 3/4 of the truth. I tell them that I collect pennies searching them for errors, wheats, and indians. The only truth that I hold back from any of the four banks that I frequent is that I am hoarding pennies for the copper.
Start small, a few boxes a week, until they get to know you as a regular and then ratchet it up until you feel that you are getting close to their breaking limit. 
If your bank isn't very cooperative find another one...results will vary. |
Edited by - horgad on 11/20/2007 13:03:58 |
 |
|
|
Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 11/20/2007 : 15:27:25
|
If you are going to get more than one or two rolls that the coins will need to come from the vault. This generally means a member of the management team will need to help the tellers. Also many of the tellers are women with long fingernails who do act like a roll of quarters will be so much weight as to ruin their very appearance. Sorry I’ve had this happen too many times.
I go straight to a management person and ask who could help me if I wanted to buy some coins. It generally means talking to two or three people before someone finally understands.
Here is an example.
I start with the bank receptionist.
“I want to buy some cents.”
“The tellers have the money.”
“No, I want to buy $100 in cents.”
“Oh you mean pennies.”
“Yes, an hundred dollars in cents.”
“Oh, well, I don’t think we have that many pennies. Let me see.” She then gets on the phone and tells a manager that there is someone who wants $100 in pennies.
Promptly a manager comes and, “Can I help you.”
“Yes, I want $100 in cents.”
“Oh you mean pennies.”
“Yes, an hundred dollars in cents.”
“Let me see if we have that much and can spare it.” She then walks off wagging her head.
A few minutes later she comes back and says, “We have that much, but they are very heavy do you know how much that is?”
“Yes, my car is right out front and I can make several trips if needed.”
She then finds a dolly and a teller who can help because the money will need to go from the vault to a teller and then you can have it. It may not physically go to the teller but the paper work needs to be done.
Having a member’s card and your ID really helps expedite this along.
Once I was even confused as a bank robber for a time. That is when I quit going to the tellers first for such heavy amounts of coins.
If people walk in and out of the bank with thousands of paper bills that is fine but coins are weird. Last week was a prime example. I bought $60 in halves and heard the clerks talking about how strange it was for someone to have that many coins. The man in the stall next to me got $200,000 in cash out of the bank. I was the strange one.
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
|
|
|
2cents
Penny Sorter Member
USA
44 Posts |
Posted - 11/20/2007 : 15:57:51
|
Does it work better to call on the phone ahead and put in an order, and then pick up later?
2cents |
|
|
|
Ardent Listener
Administrator
USA
4841 Posts |
Posted - 11/20/2007 : 16:40:41
|
quote:
Originally posted by 2cents
Does it work better to call on the phone ahead and put in an order, and then pick up later?
2cents
I never do but then I like the thrill of pulling off a bank job.
I always tell them that I need not want a box of nickels or pennies. Today a new teller asked who I was getting the pennies for. I told her me.
Realcent.forumco.com disclosure please read
All posts either by the members, moderators, and the administration of You must be logged in to see this link. are for entertainment purpose only. It is not the intent of realcent.forumco.com to provide investment, medical, legal or tax advice and nothing posted here should be considered to be so. |
|
|
|
Ponce
Penny Hoarding Member
Cuba
630 Posts |
Posted - 11/20/2007 : 16:43:35
|
what I get is bricks of nickels and I tell them that I am the banker for a outgoing Texas Hold Them at home that we play three times a week.
I haven't been asked, yet, who is winning all the nickels hahahahah.
I did open one brick and open two rolls and found five foreign coins in it.
"If you don't hold it, you don't own it"...Ponce |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/20/2007 : 17:04:24
|
horgad gives good advice. Start out small at the banks you normally go to where they know you. Get a box or 2 each trip, then after a few weeks find out who the person is at the bank that orders the coin. That person can order you some boxes of coins. Each bank will have it's limits.. I have banks that order $600 in pennies (24 boxes) per week for me and others that order $200 a week. Then there is one bank that will only order for me once every 3 months. For a few boxes it it easier to carry them if you have one of those canvas grocery/tote bags with handles. If you start doing really large orders you might want to think about getting a cart/dolly to wheel them out with. After you get known at the bank for being the penny guy you might even start getting those great phone calls where the bank calls you up and says "Some little old lady just deposited $200 in pennies, would you like them?"
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time... and FAKE coinage.. a quarter ton at a time.. just for speculation"
HoardCode0.1:M49/15USCA:US1Cu695600(60000 Reserved):US1Zi150000:US5Ni9500:CA5Ni1150 |
|
|
|
fiatboy
Administrator
912 Posts |
Posted - 11/20/2007 : 18:47:12
|
If they ask, I tell 'em I'm a coin collector. And having my insanely cute girlfriend with me always helps, too.
I rarely call ahead. In my experience, too much depends on the tellers' dispositions. There are some real snidey and snarky tellers out there. Don't let 'em get to you.
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
|
|
|
Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 11/20/2007 : 19:05:37
|
| I've told the truth to my one bank source. They think I'm crazy...and they are probably right. They also call me any time they get CWR in. They are glad to get rid of all the rolls they can. I'm up to 4 boxes a week. Budget can't handle any more right now unless I start selling the copper or the wife gets a job. |
|
|
|
n/a
deleted
2 Posts |
Posted - 11/24/2007 : 21:00:17
|
I get(or got) my pennies from my regular bank and return them to an account I opened to get the $100 bucks free... they count coins free ;)
This way my normal bank doesn't have the hassle of both sides of it. I've never been asked why I have that much coin to return... I don't do it really anymore, now I just keep all the nickles, lol. |
Molon Labe |
|
|
|
MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 12/07/2007 : 23:33:52
|
Guys,
I started off like this too. Sort of feeling guilty for collecting copper cents. Fortunately, I came to my senses one day.
It came to me in a flash... A teller asked my why I needed so many pennies in a very accusatory tone. I told her that I was not aware that I had to explain why I wanted to withdraw money that I had on deposit, nor was I aware of any reason why I had to justify the manner in which I wanted it. To be quite honest, I almost blew a gasket with her, and I'm sure i wasn't as tactful as the above might indicate.
I'm not suggesting that you get really upset me to the point of seeing yellowed off. I am, however, saying that you should never feel or act as if you need to explain why you want your money or why you want it in the manner that you do. It's your money and you have every right to do with it as you wish. If you act in that manner, you'll be surprised what you can accomplish.
MaDecue |
|
|
|
penny4mythoughts
Penny Sorter Member
USA
82 Posts |
Posted - 12/08/2007 : 03:49:55
|
| Promethius, what bank is that? |
Los Angeles is the place I call home... |
|
|
|
NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/08/2007 : 09:48:51
|
quote:
Originally posted by MaDeuce
Guys,
I started off like this too. Sort of feeling guilty for collecting copper cents. Fortunately, I came to my senses one day.
It came to me in a flash... A teller asked my why I needed so many pennies in a very accusatory tone. I told her that I was not aware that I had to explain why I wanted to withdraw money that I had on deposit, nor was I aware of any reason why I had to justify the manner in which I wanted it. To be quite honest, I almost blew a gasket with her, and I'm sure i wasn't as tactful as the above might indicate.
I'm not suggesting that you get really upset me to the point of seeing yellowed off. I am, however, saying that you should never feel or act as if you need to explain why you want your money or why you want it in the manner that you do. It's your money and you have every right to do with it as you wish. If you act in that manner, you'll be surprised what you can accomplish.
MaDecue
Exactly. If you are hassled, threaten to take your business elsewhere. It IS your money and you can receive it any way you want it as long as the coin is on hand at the bank. You obviously need an account there if you expect to have leverage. I belong to only one bank, but it has numerous branches. Each branch has to be handled different. Some greet me with a smile and ask me how many I want, or even tell me about some good batches of coins that came in. On the other hand, there is one branch, located in a pretty undesirable part of the ghetto, that has tried to hassle me in the past. I pulled the "I'm leaving and I'm taking all my money with me," deal and they came around. They are still very short with me and are not friendly to me in any way, but they tend to have a lot of 90% Ag and good percentages in Cu. Just part of the deal. If you think about it, the tellers work for you. You don't have to be nice to the ones that are rude to you. I am pretty short with them myself.
Deal
p.s. What not to say, "Give me all your pennies!" They hear the " Give me all your...," part but miss the rest. You thought you had a problem with the teller, wait until the LEO's arrive. |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
|
|
|
mickeyman
Penny Pincher Member
Canada
243 Posts |
Posted - 12/21/2007 : 22:43:57
|
I usually avoid saying why I want coins. I have only once been questioned why I wanted them, and so I told my regular teller about the changing metal content in the coins (these were Canadian nickels) and she has not been at that branch since.
The banks don't like dealing in coins. They make their money by creating digital money through lending which is actualized as paper currency. Their profits come from playing with paper and digits. Coins are produced by the government with varying amounts of seignorage. The banks get no benefit handling them, however they are required to accept them by law. They enjoy coinage as much as a typical child enjoys spinach, and only take it because it is a requirement of their charter. |
Not all who wander are lost. |
|
|
|
Ardent Listener
Administrator
USA
4841 Posts |
Posted - 12/22/2007 : 07:36:01
|
quote:
Originally posted by mickeyman
The banks don't like dealing in coins. They make their money by creating digital money through lending which is actualized as paper currency. Their profits come from playing with paper and digits. Coins are produced by the government with varying amounts of seignorage. The banks get no benefit handling them, however they are required to accept them by law. They enjoy coinage as much as a typical child enjoys spinach, and only take it because it is a requirement of their charter.
Then we must do everything we can to take their pennies and nickels off their hands. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/22/2007 : 12:28:19
|
| Bet there are no US banks that have in their charter that they have to take 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. |
|
|
| |
Topic |
|
What to say at the bank?
Forum Locked
