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E-ville
New Member
USA
6 Posts |
 Posted - 08/02/2010 : 18:40:48
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I knew the pre82 coppers were worth more than there face for quite some time but never really did anything with it.. then after starting to get invested in physical silver I decided to revisit the "penny thing"..
Well After getting $25 from our personal bank and sorting and getting a good ratio of about 1/4 to 1/3 coppers.. I figured it would be worth doing.. so dove right in, got me a comparator and then asked the bank for more cents.. they were quite upset.. I was confused then they said.. "Do you mind if there not rolled?" I was like sure anything is fine.. they hand me a $25 bag.. and mention they hand rolled the pennies and it took them hours to replace what I took on the first request.. Anyway.. So I go in a week later and they said "No pennies for you".. since i didn't dump there, I think they were worried about having to buy pennies.. and pay a fee. So I say OK and then proceeded to the town I work in and hit every bank for $10 worth.. Along with some nickels since there more than face also..
After sorting those, I rolled almost all the zinks and I'm going to tempt my original bank for more loose pennies.. see if they with trade rolled for loose.. Since that was there gripe originally, The pennies I got from there had a far better ratio and more wheats also.. I want to sort the entire banks supply..
Anyway.. I now have a comparator and have a purchased the needed parts for a automated feed system, even with just the comparator I was able to sort 6000 cents in a few hours dropping them through by hand while watching TV..
I did find most banks here were kind of Leary about pennies.. like they had to think about $10 worth of pennies?? I fear that I'll end up getting cut off all over the place and or they will ask me to cover there costs per roll or box.. at that point it may be cheaper to buy from other sorters at 1.3 - 1.5 face..
My plan for this was to spend $200 a month in pennies.. sort them and use the zinks for my mortgage payment and dump at my bank with the mortgage... thats all I have there since they really upset me to the point of seeing yellowed me off a while back...and I moved all my cash to my current bank, I figured they would like my $.02.. and what are they going to do .. refuse my mortgage payment? They have a coin counter and it sorts pretty quickly... Since I've only dumped $70 worth there already I want to sort that bank also... These small banks are really small and there supplies are small.. Literally $50 is putting them in jeopardy of needing to order more.
Anyway.. any suggestions on what to do about sourcing cents.. since I've been cut off once already at my normal everyday bank for $50 worth in a 3 week span?
I don't mind telling them what I'm doing.. sorting them for the old ones.. they may think I'm odd but I really don't care as long as I get those cents..
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 08/02/2010 : 19:01:22
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Welcome to the forum, newbie  Now then... how big a town do you live in? It sounds like it might be small. In larger cities with brances of national banks there is generally no problem with placing a standing order for several hundred dollars a week. It might be worth it for you to drive thirty minutes or an hour to where you could do this rather than hitting up each branch for $10. Once we know where you live, maybe you could meet another forum member halfway who will trade you unopened bank boxes 1.05x in bulk? |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 08/02/2010 : 20:39:13
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Welcome to the fourm and the addiction of sorting. Wishing you luck in finding a supply and dump bank. |
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E-ville
New Member
USA
6 Posts |
Posted - 08/02/2010 : 20:46:33
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I drove 30 miles to get to the 6 different branches in a town of about 10,000.. It's where I also work.. My home town bank is the one that cut me of.. they are very small and thus, why I bank there I like it when I can call up and ask for a car loan or whatever and simply get a OK over the phone.. and do the paperwork later, I like small town service..
Anyway I don't mind going around and getting $10 at each bank in town.. the town covers a very small area and I can make a loop of the banks pretty quickly , they are all in one area of town. I'm not in this for huge amounts.. just figured I'd lander that small mortgage payment for metal every month :)
Maybe I should start a coin rolling service for the really little hometown banks and roll there pennies for paper costs.. and just sort the copper and buy them with zink.. :)
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Metal=RealMoney |
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E-ville
New Member
USA
6 Posts |
Posted - 08/02/2010 : 20:49:43
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| Considering I've only sorted 110 worth and I have 27.5 pounds of coppers, I think Iv'e done pretty good so far in this little opperation |
Metal=RealMoney |
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Kiwiman
Penny Pincher Member
225 Posts |
Posted - 08/02/2010 : 21:12:47
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| welcome |
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misteroman
Administrator
USA
2565 Posts |
Posted - 08/02/2010 : 23:31:03
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| welcome aboard and don't look back |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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goodcoin
Penny Sorter Member
42 Posts |
Posted - 08/03/2010 : 01:13:03
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Hey E-ville,
Welcome to the forum. Nice % on the copper. I noticed that you have 4 post on three different occasions. How did that happen? Strange. I like the idea of paying off your mortgage with zinc cents. Does the bank really have a choice whether to accept your coin in this situation? Great predicament. I can hardly wait till I purchase a home (another year hopefully) so I can pay my mortgage with zinc. Maybe at that point, zinc will be worth more so I can stick the banks with worthless paper. Ha Ha Ha. Very funny! |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 08/03/2010 : 06:05:37
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Welcome. Banks typically frown on accepting your dumps if they are also getting you coin. Spread your action around. Have fun sorting, and the addiction only gets worse, hehe.
Deal |
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 |
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Silverhead
New Member
USA
18 Posts |
Posted - 08/03/2010 : 06:06:26
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| Welcome,got alot of copper so far!!! |
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harley1
Penny Pincher Member
140 Posts |
Posted - 08/03/2010 : 12:16:41
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| welcome aboard |
Today is the tomorrow we worried about yesterday. |
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twentybux
Penny Pincher Member
174 Posts |
Posted - 08/03/2010 : 13:44:43
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| Addiction...yes. Fun...yes. Insight that many others do not have...yes. Enjoy and welcome! |
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E-ville
New Member
USA
6 Posts |
Posted - 08/03/2010 : 21:39:24
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| thanks for all the welcomes! |
Metal=RealMoney |
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Sheikh_yer_BuTay
Penny Pincher Member
USA
232 Posts |
Posted - 08/03/2010 : 22:02:22
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Welcome E-ville!
Addiction? Nah, it's an obsession! |
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Hello, dove in and love it
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