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TexasPQ
Penny Sorter Member
47 Posts |
 Posted - 02/29/2008 : 21:33:34
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OK so I found this site, got interested in saving copper and went out and got three boxes. Hand sorted one and out of 2500 cents came out with the following:
19 Canadian
16 Wheats
80 1982s
677 1959-1981s
Question is what do I do with the 1700 remaining pennies? How do I take these back to the bank? Do I walk into random banks and ask if they have a coin sorter? Do I have to roll these coins back into paper rolls? Do I return them to my own bank or can I pawn them off on a bank where I don't have an account? I'm looking for advice, suggestions, strategies that you've found work for you.
This is all new to me. Thanks.
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 02/29/2008 : 21:48:09
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One, welcome to the site. Two, welcome to the biggest problem we have here, getting rid of zinc....There are many ways to dispose of zinc. There is a whole thread devoted to it. You must be logged in to see this link. I've personally done about everyone of those things you listed. I even spend them for gas at a gas station. Best bet is for you to find a branch of a bank you are a member of that has a coin counting machine. As long as you aren't returning $100's a week you should be okay with a lobby machine, as they are kinda slow(300-500 coins per minute I believe). Re-rolling isn't for me....I have a location that accepts loose in any amount. Very fast machine too....Good luck and have fun.
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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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 02/29/2008 : 21:51:20
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Oh yeah, having separate buy and dump banks is a good idea. Some, not all, kinda frown on you bringing them back the same pennies. Usually you must be an account holder to buy/dump pennies. There are exceptions to the rules however.
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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aboxaweek
Penny Collector Member
USA
326 Posts |
Posted - 02/29/2008 : 22:00:41
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| yeah don't roll them. according to my bank. When the teller got them, she unrolled the 11 rolls that were rolled up. |
*HUCKABEE*
___08'____
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misteroman
Administrator
USA
2565 Posts |
Posted - 02/29/2008 : 22:33:44
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Take them to your local Coinstar.They now have a deal where it is free if you get the money back on a gift card.They have about 20 different choices.Wifey always shops at JC penney's(how fitting) and lines and things so that's where I'm going to start to unload them.
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
 Posted - 02/29/2008 : 23:55:12
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Rolling them is no problem.. just toss them in the machine and hit the button.. 
Now that gas is up I might be able to compete with NotABigDeal and get 2 bricks of pennies worth of gas in my car. |
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. |
Edited by - HoardCopperByTheTon on 02/29/2008 23:55:32 |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 03/01/2008 : 00:35:14
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quote:
Originally posted by misteroman
Take them to your local Coinstar.They now have a deal where it is free if you get the money back on a gift card.They have about 20 different choices.Wifey always shops at JC penney's(how fitting) and lines and things so that's where I'm going to start to unload them.
Derek
THis is okay...but I'd rather have cash to put back in pennies.... only resort to this if you know you need to shop at one of 'said' available gift shops.
You would need to roll them if you are going to dump them at a gas station for your gas(at least, it only seems humane to roll them in this case)
IT does take some work, but you can do it.... if you can find a bank with a lobby self service machine then you are LUCKY!!! I'd love it....but no, just confused tellers taking your Heavy, Heavy bag/box of coin!
OH, I suggest, from as many dimes found in rolls of pennies, DON"T MIX any of YOUR dimes in with the pennies to be counted.... but if you have a jar of nickels and quarters, toss them into the mix for color! |
"May your percentages ever increase!" |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 03/01/2008 : 00:37:28
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| Oh, but some of the guys here would tell you DON"T Get Rid of your NICKELS.... they are worth more than 5c too. But I don't hoard them yet....not yet... |
"May your percentages ever increase!" |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/01/2008 : 11:20:05
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| A nickel is up to 7 cents now and look hopw easy they are to find!!!!! |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 03/01/2008 : 21:03:35
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| At first I was dumping the zinc into other branches where I bank, so I used one branch for picking up boxes and multiple branches for dumping. Of course that is alot of time and gas money. So since there are tons of competing banks around here, I found a credit union with a self serve coin counter in the lobby and opened an account there. It's awesome, and the only time I have to bother anyone is when the internal bag gets filled and needs to be replaced. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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TexasPQ
Penny Sorter Member
47 Posts |
Posted - 03/04/2008 : 18:25:11
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Thank you everyone for your advice.
I discovered two branches at my own bank where I can drop off a bag of coins with a deposit slip and they will count them and complete the slip later in the week. I figure if I alternate between the branches I can unload 15 lbs a week without getting anyone too mad at me.
I had never heard of or seen banks with self serve counters in the lobby. Is this a regional phenomenon? Any of you in the Massachusetts/Rhode Island area know of banks that have these? Seems like those are the way to go. |
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n/a
deleted
139 Posts |
Posted - 03/04/2008 : 20:01:30
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quote:
Originally posted by TexasPQ
Thank you everyone for your advice.
I discovered two branches at my own bank where I can drop off a bag of coins with a deposit slip and they will count them and complete the slip later in the week. I figure if I alternate between the branches I can unload 15 lbs a week without getting anyone too mad at me.
I had never heard of or seen banks with self serve counters in the lobby. Is this a regional phenomenon? Any of you in the Massachusetts/Rhode Island area know of banks that have these? Seems like those are the way to go.
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deleted
139 Posts |
Posted - 03/04/2008 : 20:04:38
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| there is only one credit union in rhode island with a coin counter. |
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double dot
Penny Sorter Member
USA
55 Posts |
Posted - 03/04/2008 : 23:33:22
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quote:
Originally posted by scott71578
there is only one credit union in rhode island with a coin counter.
For the longest time I thought there wasn't any coin counters in my area. Just completed my goal of 100 lbs copper cents by hand sorting either by dates, weights, or weirdass coin comparator setup. NO banks in the capital district NY (Albany/Troy/Schenectady)had coin return machines. Only got six boxes bank rolled. The rest I got from swapping - I would go to multiple branches and swap 10 to 50 rolls of zincs primarily for customer rolled. The rerolls I swapped after I put distinctive double dots on them. I requested not to get double dots back. This worked well.
The day I reached my goal was the day on a whim I checked an obscure ( to me ) credit union. They have 7 branches in this area all with coin machines in the lobby. Needless to say, I joined the credit union on Monday. The kids want to sell it all on ebay. I'm uncertain if I want the labor of sorting more by hand or getting the ryedale to accomplish their goal, but half my labor was in weighing and rolling coins for swapping and now thats gone. |
Crouching Teller, Hiding Copper |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/06/2008 : 13:14:35
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I'm in Northwest Mississippi and the closest coinstar machine in a bank to me is in Pine Bluff Arkansas, which is about 3 hours away.
I am calling banks in the Memphis area to see who there will take unwrapped pennies.
So far I've found a couple of branches of Bank of America which will take bags of $25 but they have to be special bags and counted.
Still I'll check into this and if I can get enough bags at once from them that will be my best solution.
Well, as soon as I get the ryedale that is.
I might break down and order it this week even though the tax refund isn't here yet.
I'm getting anxious that as soon as I start this then either copper hoarding will become illegal or the FED will start removing the copper from circulation.
Would be just my luck ;) |
Sorting In Northwest Mississippi |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/06/2008 : 13:25:51
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| If you can't find a bankwith a machine to count the loose ones for you, bagging them and taking them in is the next best thing. I don't have any banks near me with counting machines in the lobby so I just get the plastic bags from the bank, hook it up to one of my counting machines, set the bach stop to 5000 and let er rip. You can generally find a good counting machine for $200-300. I also have automatic rolling machines for those banks that will only take my zinc if it is rolled.. but those machines are kind of pricey. The Ryedale is the most important machine to have.. but you really need a good zinc disposal plan for when you start sorting more. |
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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double dot
Penny Sorter Member
USA
55 Posts |
Posted - 03/06/2008 : 22:29:41
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quote:
Originally posted by WilliamC
I'm in Northwest Mississippi and the closest coinstar machine in a bank to me is in Pine Bluff Arkansas, which is about 3 hours away.
I am calling banks in the Memphis area to see who there will take unwrapped pennies.
You must be logged in to see this link. lists two in NW Missppi Grenada and Pontotoc and You must be logged in to see this link. click Missppi lists one all NW Missppi but it is a fairly old website and doesn't update frequently. Good luck. I found mine by accident not on their website.
Massachusetts has a bunch and Rhode Island only has one credit union per above link. |
Crouching Teller, Hiding Copper |
Edited by - double dot on 03/06/2008 22:38:31 |
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n/a
deleted
84 Posts |
Posted - 03/07/2008 : 08:34:56
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Most banks, if not all, have a coin counting machine in the back. I have 3 dump banks: one with a lobby machine (free for members), and two where I just take in cans and pails full of pennies right up to the tellers for them to take in back and count for me. So far, no complaints from the banks, but I do limit my dumping at a particular branch to every other week, so as not to bother them too much.
Don't be afraid to:
1. Ask for coins! These are banks, after all! I've gotten mixed responses from the tellers- some are happy to give you all the coin you want, some balk and give you reasons why they can't.
2. Return coins. Again, these are banks, this is what they do.
3. Go to different banks. This is a competitive business- if you aren't satisfied somewhere, vote with your feet.
I think the tellers will get more and more savvy to what we're doing, especially as the dollar declines and more people jump on the hoarding bandwagon. Establish good relationships with them now, and you'll be set when the hoarding rush really comes. |
"Truth is treason in the empire of lies." -Ron Paul, from _The Revolution: A Manifesto_ |
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How do I return coins to the bank?
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