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15 Posts |
 Posted - 01/23/2008 : 12:32:42
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A little about me since I am new I am 24 in SE Ohio, I get all my coins from a different state since I am on the Fed border, Pickup in one district dump in another. It works great. I started with halves and have them down pretty good on a system. and now what to expand.
And I found the board from Fiat, I am a regular over at treasurenet
I usually stick to halve dollars. I do 8-10,000 a week in them. And not doing to bad, And now I am about to start doing Pennies other than hand sorting them, Which is going to be fun.
But I have been asked several times from my bank if i could bring them coins wrapped to help them out. Where do you look for a commercial wrapper? and what are things to look for on them, Any advice would be appreciated.
Thanks
Tim
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jorhyne
Penny Pincher Member
174 Posts |
Posted - 01/23/2008 : 14:08:04
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Hi Tim,
I personally do not own a coin sorter but from what I have heard a nice one can't really be found for less than $200-$300. Thankfully for me, there are multiple banks in my area that have free coin sorters in their lobby that will do large amounts of anything from halves to pennies. So if you haven't already, check around at some other banks near you to see if they have a coin sorter. Good luck!
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Pennies For Sale: http://tiny.cc/jorhynespennies |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/23/2008 : 16:01:48
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Hi Tim,
Welcome to the forum. Sounds like you have the halves down pretty well. Hopefully you will share some of your insights in that area with those of us that would like to expand into that area but have a hard time sourcing halves.
The penny sorting is a natural expansion for you since you are already making the bank runs for your halves. I'm sure the banks would appreciate it if you provided them with rolled coin. They usually have to pay a fee from the coin services for this. One guy on the board actually gets paid a jobber fee per roll to provide rolled pennies to his bank which distributes them to all their branches in town. It certainly wouldn't hurt to do a favor for the banks and help them cut their costs. They will probably appreciate it and will treat you nice when you want to get halves and pennies from them. Real commercial wrappers are kind of expensive. I have a couple of them and I love them. You want to get a major brand like Glory or Brandt. They are often sold by used banking equipment dealers. Often the prices asked are a little on the high side. You might try contacting your local bank machine service provider to see if they know of any used equipment for sale. They also occasionally show up on eBay. There is an older model Brandt on there right now. The guy has been trying to sell it for months, so he might go for a lowball offer. You need to factor in shipping when getting one of these.. they are extremely heavy. Also, make sure it rolls all the demoninations you wish to roll. Many machines from casinos do not roll pennies. They sometimes have a -C in the model #, but not always. Also, some machines will roll halves but many will not, so check out what the machine will do. I assume since you do lots of halves you would like the convenience of having the machine automatically roll them for you. |
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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15 Posts |
Posted - 01/23/2008 : 19:19:45
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Currently, Yes I am at the bank 2 days a week picking up because I have 2 banks ordering me halves now. I also love returning them because the bank has a counter in the lobby, and my friend returns them why I goto the office.
The bank says I can have up to 1,000 a week of pennies. But there is no way I want to do that yet, I have to many irons in the fire right now.
HoardCopperByTheTon the one on ebay is it Item number: 320187485043
Also are they hard to maintain? |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/23/2008 : 20:28:09
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That is a nice bank. Are they going to have any problem with you returning that many every week? My standard order quantity is $600 (24 boxes). That keeps the weight about right for my cart and the trunk of my car. Some banks I get 12 boxes at and some I only get 8 each week. You can start off light and then determine what level you are going to play at. To do any volume at all you will need a Ryedale machine to do the sorting.
Yes, that is the item # for the rolling machine. I think he has been trying to sell it for months so he might bite on a lower price offer. Maintaining them is probably dependant on how good of a machine you get, your personal mechanical aptitude and useage level. I have had no problem maintaining my own, but there are professional companies that will do the servicing for a fee. For my pinball machine I hire an outside guy to do the servicing.. they do it every day and that machine is a little trickier to me.
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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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New Guy, And some Questions
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