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 TD Bank's "Penny Arcade" is a SCAM
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Quagmire
Penny Sorter Member


62 Posts

Posted - 08/27/2010 :  22:50:11  Show Profile Send Quagmire a Private Message
I brought a $500 box of halves into TD Bank, which were already rolled up. The teller and then manager after I became obviously irritated informed me that as a result of "bank policy" they do not accept rolled coins and that in order for me to change the halves I would have to unwrap them and put them in the machine. I explained that their machine is well known for its substantial inaccuracy. Nevertheless, they refused to accept my rolled coin. I basically told them to copulate off.

HoardCopperByTheTon
Administrator



USA
6807 Posts

Posted - 08/27/2010 :  22:57:37  Show Profile Send HoardCopperByTheTon a Private Message
That oughta make you friends at the bank. Run pennies through their machine.. you can make a profit.

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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dakota1955
1000+ Penny Miser Member



2212 Posts

Posted - 08/28/2010 :  07:52:17  Show Profile  Send dakota1955 a Yahoo! Message Send dakota1955 a Private Message
it is getting harder all the time to find places to dump
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Quagmire
Penny Sorter Member



62 Posts

Posted - 08/28/2010 :  10:30:09  Show Profile Send Quagmire a Private Message
quote:
Originally posted by dakota1955

it is getting harder all the time to find places to dump



Yea...I went to BOA today and tried to dump another $500 of halves. They took them, but the teller was being difficult about it, saying she wasn't sure if they accepted them and that they need to go to the department or something, whatever the hell that means.

I have 3 accounts with them, so I basically told her I didn't want to hear any bulluse the bathroom and to give me my notes. She also requested my driver's licence, which I declined to proffer and rebutted by offering the number, which I know offhand. I also pointed out that I am well known in that branch. Whatever...I got into this half dollar business with the specific goal in mind of annoying the criminal banks that plague and rob us...so in that regard it appears I have been most successful
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penny4mythoughts
Penny Sorter Member



USA
82 Posts

Posted - 08/28/2010 :  19:17:46  Show Profile Send penny4mythoughts a Private Message
I am still BAFFLED that banks have "policies" or issues or objections to handling money...of any kind really. The idea that a bank can/would/will refuse to accept any kind of circulating currency is insane.

Banks have become entirely to retail focused and it has forever changed the way they operate. Banks were originally depositories and managers of wealth, with a pretty basic interest in (loan) interest out (savings accts etc) business model. They made reasonable profits. Now going to the bank is a high pressure sales experience. At my Chase branch last week my 'personal banker' pulled me out of the teller line to 'check my accounts and make sure I'm getting all the services I need' which was 1)Her trying to get me to opt-in to the "Overdraft Protection" otherwise known as their line of credit that costs $35 per transaction and 2)To try to sell me a credit card. THIS ISN"T BANKING, this is worse than any mall retail store.

and that's my rant for the day :)

Los Angeles is the place I call home...
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mauk13r
Penny Sorter Member



USA
60 Posts

Posted - 08/30/2010 :  12:06:45  Show Profile Send mauk13r a Private Message
I also had an interesting experience at chase. My local branchs (4) have no problem with bagged pennies. But a branch 15 miles away refuses to take bags. So now I dump any rolls that I have as well as $1 coins that I pick up in other transactions at that branch just because.
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JobIII
1000+ Penny Miser Member



USA
1507 Posts

Posted - 08/30/2010 :  14:42:52  Show Profile Send JobIII a Private Message
Hi Quagmire,

I feel you truly selected the best alias possible for your problem.

I don't know you or the banks you went to but i'd like to give my 2 cents. So, hear me out about the Half dumping issue.

First off, banks are not obligated to order/except large amounts of coin from any of it's patrons that do not have a business account. Sure we can all say to ourselves it's just money and exchanging money is part of their job description. But they still have the final say when excepting large quantities of coin from any of it's non-business account patrons. If you plan on sorting lots and lots of halves you will either need to get on better terms with the banks you frequent, except using counting machines or move on to new banks and try your luck with them.

These are the 3 options. And nothing is certain. You may find a great bank that will cut you off in 2 months.

Both of your posts make me think you're going into these banks with an attitude that may very well be offending the tellers/managers, who are the very people that will make or break your coin hobby.

If you explode at each bank that gives you any problems you'll be cutting yourself off from supply/dump banks, and it will be your own doing. Some people are luckier than others and can deposit whatever they want at the banks they use. Others like you have to work a little harder. When i started doing halves, i would limit my deposits to $100 per bank before moving up to 1 box per bank per day, and now i'm able to return over 5 boxes at a couple banks per day.

I've also gone to banks that cut me off after the first dump. Sometimes you just have to move on. Perhaps discuss it with the manager to see if you can finagle a little room to work in your favor, but this should be done in a respectful way.

It sucks to be cut-off or have your dump bank refuse you, I know it sucks. Most of us have tasted the bitterness at least once. But going off on the bank staff is immature and won't help you return coins either. I think some people on this site have to drive about 20 miles to get to banks that will take their returns because the ones closer have cut them off.

Keep looking around and you'll find a couple good banks in your area or maybe find a little more and deposit smaller amounts over the course of the week.

I really think you'll find banks just keep looking, good luck and may your Ag find be better than mine!

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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Quagmire
Penny Sorter Member



62 Posts

Posted - 08/30/2010 :  20:03:23  Show Profile Send Quagmire a Private Message
quote:
Originally posted by JobIII

Hi Quagmire,

I feel you truly selected the best alias possible for your problem.

I don't know you or the banks you went to but i'd like to give my 2 cents. So, hear me out about the Half dumping issue.

First off, banks are not obligated to order/except large amounts of coin from any of it's patrons that do not have a business account. Sure we can all say to ourselves it's just money and exchanging money is part of their job description. But they still have the final say when excepting large quantities of coin from any of it's non-business account patrons. If you plan on sorting lots and lots of halves you will either need to get on better terms with the banks you frequent, except using counting machines or move on to new banks and try your luck with them.

These are the 3 options. And nothing is certain. You may find a great bank that will cut you off in 2 months.

Both of your posts make me think you're going into these banks with an attitude that may very well be offending the tellers/managers, who are the very people that will make or break your coin hobby.

If you explode at each bank that gives you any problems you'll be cutting yourself off from supply/dump banks, and it will be your own doing. Some people are luckier than others and can deposit whatever they want at the banks they use. Others like you have to work a little harder. When i started doing halves, i would limit my deposits to $100 per bank before moving up to 1 box per bank per day, and now i'm able to return over 5 boxes at a couple banks per day.

I've also gone to banks that cut me off after the first dump. Sometimes you just have to move on. Perhaps discuss it with the manager to see if you can finagle a little room to work in your favor, but this should be done in a respectful way.

It sucks to be cut-off or have your dump bank refuse you, I know it sucks. Most of us have tasted the bitterness at least once. But going off on the bank staff is immature and won't help you return coins either. I think some people on this site have to drive about 20 miles to get to banks that will take their returns because the ones closer have cut them off.

Keep looking around and you'll find a couple good banks in your area or maybe find a little more and deposit smaller amounts over the course of the week.

I really think you'll find banks just keep looking, good luck and may your Ag find be better than mine!




The reason I got annoyed with BOA is because I have 3 accounts with them, of which one is/was my brokerage account, and I have done well over half a million dollars worth of trades in between late 2008 and the beginning of 2010. And frankly, it's absurd for any bank to refuse to accept money...that is their raison d'etre...and I didn't go off on the staff at BOA, but I became annoyed at the rudeness of the teller who among other things, demanded my licence even though I am known at that branch.

Also, I was just exchanging the halves, and wasn't actually depositing them which if I was, they would have no recourse to refuse the coin.
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JobIII
1000+ Penny Miser Member



USA
1507 Posts

Posted - 08/31/2010 :  07:34:49  Show Profile Send JobIII a Private Message
Some people here tend to avoid the banks that they do a lot of non-coin business with, just to avoid any possible negative recourse.

I have a BOA near my home that is a little odd about how they work around large deposits of coin. They will take them bagged, in any number, but i have to provide the BOA bank bags. essentially I would have to find another BOA that would give me bags or buy them at $1.3 per bag.

I understand that it's not really so awesome if you have to pay a bit each time, but most hobbies do require some money to be invested to make them happen.

Best of luck and again there's alwasy another bank perhaps only down the block .

Also i still think your problem is minor compared to mine. I've had no silver finds in what seems like >8weeks, at around 4-8 boxes a week. Pick your poison I guess.

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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Quagmire
Penny Sorter Member



62 Posts

Posted - 08/31/2010 :  16:03:32  Show Profile Send Quagmire a Private Message
quote:
Originally posted by JobIII

Some people here tend to avoid the banks that they do a lot of non-coin business with, just to avoid any possible negative recourse.

I have a BOA near my home that is a little odd about how they work around large deposits of coin. They will take them bagged, in any number, but i have to provide the BOA bank bags. essentially I would have to find another BOA that would give me bags or buy them at $1.3 per bag.

I understand that it's not really so awesome if you have to pay a bit each time, but most hobbies do require some money to be invested to make them happen.

Best of luck and again there's alwasy another bank perhaps only down the block .

Also i still think your problem is minor compared to mine. I've had no silver finds in what seems like >8weeks, at around 4-8 boxes a week. Pick your poison I guess.



Yes, my problem is minor compared to yours...not to rub it in but today was actually my best day yet, because of my best box to date which just happens to be lucky number 7!! My best box was my seventh box just to be clear
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JobIII
1000+ Penny Miser Member



USA
1507 Posts

Posted - 09/01/2010 :  12:38:04  Show Profile Send JobIII a Private Message
what'd you find if you don't mind me asking. Also there's a half dollar tracking post. where you can track your searches and findings.

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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Quagmire
Penny Sorter Member



62 Posts

Posted - 09/02/2010 :  01:39:01  Show Profile Send Quagmire a Private Message
quote:
Originally posted by JobIII

what'd you find if you don't mind me asking. Also there's a half dollar tracking post. where you can track your searches and findings.



My last box which is my 7th box to date procured for me 5 40% and 4 90% JFK
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wayne1956
Penny Pincher Member



177 Posts

Posted - 09/03/2010 :  10:50:19  Show Profile Send wayne1956 a Private Message
quote:
Originally posted by JobIII

Hi Quagmire,

I feel you truly selected the best alias possible for your problem.

I don't know you or the banks you went to but i'd like to give my 2 cents. So, hear me out about the Half dumping issue.

First off, banks are not obligated to order/except large amounts of coin from any of it's patrons that do not have a business account. Sure we can all say to ourselves it's just money and exchanging money is part of their job description. But they still have the final say when excepting large quantities of coin from any of it's non-business account patrons. If you plan on sorting lots and lots of halves you will either need to get on better terms with the banks you frequent, except using counting machines or move on to new banks and try your luck with them.

These are the 3 options. And nothing is certain. You may find a great bank that will cut you off in 2 months.

Both of your posts make me think you're going into these banks with an attitude that may very well be offending the tellers/managers, who are the very people that will make or break your coin hobby.

If you explode at each bank that gives you any problems you'll be cutting yourself off from supply/dump banks, and it will be your own doing. Some people are luckier than others and can deposit whatever they want at the banks they use. Others like you have to work a little harder. When i started doing halves, i would limit my deposits to $100 per bank before moving up to 1 box per bank per day, and now i'm able to return over 5 boxes at a couple banks per day.

I've also gone to banks that cut me off after the first dump. Sometimes you just have to move on. Perhaps discuss it with the manager to see if you can finagle a little room to work in your favor, but this should be done in a respectful way.

It sucks to be cut-off or have your dump bank refuse you, I know it sucks. Most of us have tasted the bitterness at least once. But going off on the bank staff is immature and won't help you return coins either. I think some people on this site have to drive about 20 miles to get to banks that will take their returns because the ones closer have cut them off.

Keep looking around and you'll find a couple good banks in your area or maybe find a little more and deposit smaller amounts over the course of the week.

I really think you'll find banks just keep looking, good luck and may your Ag find be better than mine!



I have thought this same way for some time, well said.
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PennySaved
1000+ Penny Miser Member



USA
1720 Posts

Posted - 09/03/2010 :  11:11:39  Show Profile Send PennySaved a Private Message
You may want to feel them out at 1st. You can actually turn it into a positive experience. I have had a couple of Well's Fargos say they don't want to take coin from me because their vaults are so small but I turned around and asked them if they would order coin for me and they don't have a problem because the boxes take up less room and I pick them up pretty quickly. When you bring in bags or boxed coins, sometimes they have to sit there for a week until they can send them back out. If the bank has a small vault, that can become cumbersome to them.

One bank in particular the manager had me sit there and roll the halves because she didn't have the room in her vault for a bag. I used the time to talk to her and asked her if she would mind ordering them. She now orders me $1k in halves on a standing order.

Some banks seem ok ordering and not ok with dumping and other banks seem ok with dumping and not ok with ordering.

I have one Well's that will let me bring in as many bags as I want. I only brought a small amount in at 1st but as I was I built a raport with the teller she said it was no problem brining in large quantities. I brought in $2500 in halves the other day. I bring that teller candy though.

I started following the advice of the people who take tellers candy and they seem nicer and more willing to help you out. You can go to Walmart and buy 8 packs of candy for $1 a piece. That $1 in candy can go a long way with a teller :-)

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

Edited by - PennySaved on 09/03/2010 11:12:37
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Cerulean
Penny Hoarding Member



USA
993 Posts

Posted - 09/03/2010 :  15:43:35  Show Profile Send Cerulean a Private Message
I'm continuing to have good experiences with my TD's coinbot. It was off by less than 1% today, which is very good calibration by any retail standard.

Sorting Map
2010 First Finds Contest
Are you a Buffalo Hunter?
Wanna take seignorage away from the Fed? Spend *any* coins!
We cannot afford this government.
Cerulean's Standing Offer: $3/lb shipped for foreign coins
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