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WilliamC
Penny Collector Member
USA
471 Posts |
 Posted - 03/07/2008 : 15:28:43
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Had to go to my primary bank branch, a Regions here in North Mississippi.
I talked to the head lady on duty there about large scale penny purchases and she called whomever it is that is in charge of arranging their currency transfers each week.
Bottom line, as long as I call in my request a few days in advance, they have no problem with me getting as much as $1,000 of pennies per week from them!
Now I just have to find a bank that will let me take bags of uncounted pennies for deposit, and I'm set for as much volume as I think I can possibly handle.
Ryedale will be getting an order from me next week (wife permitting!)
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Sorting In Northwest Mississippi |
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lukeownzu
Penny Collector Member
364 Posts |
Posted - 03/07/2008 : 15:34:10
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| Coinstar is the closest you can get to that I think. |
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cyberdan
Penny Collector Member
USA
289 Posts |
Posted - 03/07/2008 : 15:35:12
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| Better think about a good quality, fast counter also those bags need to hold five thousand cents each. |
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aboxaweek
Penny Collector Member
USA
326 Posts |
Posted - 03/07/2008 : 16:13:50
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| hopefully you can find a *free* coinstar at that then |
*HUCKABEE*
___08'____
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/07/2008 : 16:24:09
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quote:
Originally posted by cyberdan
Better think about a good quality, fast counter also those bags need to hold five thousand cents each.
Yea, I've found a bank in Memphis which will take pre-counted $25 bags of pennies, but none that will take uncounted bags.
Closest bank with a free coinstar to me is in Pine Bluff Arkansas, about 3 hours away.
I actually called them and they say as long as I open an account there it wouldn't be a problem for me to bring in even a couple thousand dollars worth at a time, but that's a long way to drive.
Well, I'll figure something out :) |
Sorting In Northwest Mississippi |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 03/07/2008 : 17:20:19
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| Stay away from Coinstar unless you are willing to take credit in the form of a gift card (they have places like Eddie Bauer, Amazon and others) where you get full credit. But if you want cash back they take out an 8% commission I believe and that's steep. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 03/07/2008 : 20:27:44
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Look for a bank with either a free lobby counter, or even better, one that accepts them loose. Coinstar isn't for me....
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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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/07/2008 : 20:59:04
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| Zinc disposal is probably the hardest part of the deal if you are trying to do serious volume. Some banks will actually take them loose and uncounted, but you have to wait a few days before they credit your account. Credit unions are more likely to have free coin counting machines than banks.. so check around. Banks that will take them precounted in the bags are pretty convenient. You just set the batch count on the counter to 5,000 or 2500 and bag them up. My 3 main counters do 1800, 1800 and 4000 coins per minute, so this is not a problem. For me it is actually better than if I had a bank with a free coin counter and I had to stand in the bank lobby feeding it. |
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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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 03/07/2008 : 21:03:19
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My primary dump bank accepts them, counts them, then will pay me in any form immediately. Be it cash or even more pennies. I usually don't buy from them, but the instant cash-in-hand is great. It is a sweet deal as they treat me great and there is only $40 in the account. Same $40 I opened the account with....
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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misteroman
Administrator
USA
2565 Posts |
Posted - 03/07/2008 : 22:07:30
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Wow 1,000 a week.That is a nice bank.Maybe I should ask my bank how much they would do.
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Just Talke To My Bank...
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