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greencopper
Penny Sorter Member
USA
41 Posts |
 Posted - 03/10/2008 : 20:13:41
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I am having trouble getting banks to cooperate with ordering pennies. One bank would order 20 boxes for me, but they say they will be all new pennies because they get them from the Federal Reserve. Another bank says they will only order 2 boxes at a time. How do you all get banks to cooperate and order 20 or more boxes? I have had better luck finding banks to dump my zinc than just trying to get the pennies in the first place!
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/10/2008 : 20:38:30
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Just keep calling around and hopefully you will find a bank that will co-operate with you.
I guess I'm lucky, my regular bank says they will order any amount I need if I call them a few days in advance.
Tomorrow I'll put that to the test with a $1,250 order. They are boxes from their normal supply which is a Federal Reserve branch in Memphis, but I've gotten $125 from them so far and am getting slightly over 20% copper out of them.
Later this week I'm going to open an account at another bank that will take plastic coin bags and count them for accuracy. Hopefully by the time the Ryedale gets here I'll have everything in place for my first big sort.
Of course I probably won't be able to resist buying spare rolls from other banks just to sort some by eye before then :) |
Sorting In Northwest Mississippi |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/10/2008 : 22:01:05
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I have just started getting into buying boxes of pennies and I have had some strange reactions at the banks also. Last week I visited six different banks and only one would sell me boxes and only a few at that. Check with the head teller first and confirm that as an account holder, can I buy boxes of pennies? If so, open an account and order away they can draw off your account when you pick up you pennies. I used this approach today and I have an order of ten boxes of pennies and two boxes of nickels to pick up Friday. I plan to try this again at some other banks that said no first time around. Remember "the customer is always right." It's best to find banks that don't have big minimum deposits to start your accounts with. Thank Copper Pennies By the Ton for this it
worked for me. |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/10/2008 : 22:05:33
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| Green copper I misspoke I believe it was Hoard Copper by the Ton where I read about opening the accounts and then ordering. Not copper pennies by the ton. Sorry if I offended anyone. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/10/2008 : 22:31:51
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| I agree with the previous posts the best way to acquire pennies is to open an account at the bank. Most banks have totally free checking so it will not cost anything to open the account, other than the amount you put in to open it. Then start with ordering 2 boxes then the next week order 4 boxes and so on until you get up to 10 or 12 boxes a week. Also when you open these accounts be honest with the banks and tell them that you collect pennies and you will be making large deposits in pennies each week. If they tell you fine no problem we will order pennies for you and have no problem with large deposits of pennies then open an account with them. In the last couple of months I have opened accounts at 6 different banks. If you can't find a bank willing to cooperate with you just keep on looking. There is one every corner, they are as thick as used car sales places. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/10/2008 : 23:36:23
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You guys would laugh if you saw the balances in some of my accounts.
I wasn't offended at all wheeler dealer.. I knew you were referring to me. I was happy something I posted here helped you out. For large orders it is best to have an account and preorder. The reason most banks won't give you very many boxes if you just ask is they normally only order enough boxes to take care of their merchant customers. If they were to give them to you then they would end up coming out short. This is why you rarely get more than 1 box on a driveby.
Greencopper.. have you considered asking these banks that are willing to be your dump banks to supply you with pennies? If they take a lot of pennies in, then they probably have a lot to give out. It is better if you can get them in the bags instead of the boxes.. saves a lot of time. |
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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misteroman
Administrator
USA
2565 Posts |
Posted - 03/11/2008 : 01:20:28
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ND, is that you with the auction on ebay selling Zinc cents?If that works that is a great a deal
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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greencopper
Penny Sorter Member
USA
41 Posts |
Posted - 03/11/2008 : 06:49:23
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I have had trouble even with banks that I have accounts with! One of the banks has no problem ordering as many boxes as I want, but the tell me they come from the Federal Reserve, and they will only be "new" pennies. Is this possible taht all boxes would be new?
I will try some more banks today and see what happens. Maybe it is just the area I live...North Idaho...it figures! |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/11/2008 : 07:18:07
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quote:
Originally posted by greencopper
I have had trouble even with banks that I have accounts with! One of the banks has no problem ordering as many boxes as I want, but the tell me they come from the Federal Reserve, and they will only be "new" pennies. Is this possible taht all boxes would be new?
I will try some more banks today and see what happens. Maybe it is just the area I live...North Idaho...it figures!
It seems very unlikely that they would be all new pennies. Chase bank in Indianapolis gets all Fed boxes and only 1 in 100 or so are new pennies. Of course, it probably depends on your location. I think some people in Texas are seeing all new pennies from similar orders. I would just place the order and see.
Also try this, walk into a bank and walk up to somebody at a desk and say "Hi I'm interested in opening an account but I have one special requirement. I collect pennies and will need a a standing order of 10 boxes a week." They will say no problemo. The reason being that the people that open the acocundts are not the tellers and their priority is to open as many accounts as possible not whine about penny orders like the tellers sometimes do... 
Lastly if you have an account at a bank that will not order you pennies, I would do the opposite. Walk up to somebody at a desk and say "Hi I would like to close my account." and when the ask why "I collect pennies and your bank will not order them for me so I am switching to so and so bank." |
Edited by - horgad on 03/11/2008 07:21:15 |
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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 03/11/2008 : 08:41:09
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quote:
Originally posted by horgad
quote:
Originally posted by greencopper
I have had trouble even with banks that I have accounts with! One of the banks has no problem ordering as many boxes as I want, but the tell me they come from the Federal Reserve, and they will only be "new" pennies. Is this possible taht all boxes would be new?
I will try some more banks today and see what happens. Maybe it is just the area I live...North Idaho...it figures!
It seems very unlikely that they would be all new pennies. Chase bank in Indianapolis gets all Fed boxes and only 1 in 100 or so are new pennies. Of course, it probably depends on your location. I think some people in Texas are seeing all new pennies from similar orders. I would just place the order and see.
Also try this, walk into a bank and walk up to somebody at a desk and say "Hi I'm interested in opening an account but I have one special requirement. I collect pennies and will need a a standing order of 10 boxes a week." They will say no problemo. The reason being that the people that open the acocundts are not the tellers and their priority is to open as many accounts as possible not whine about penny orders like the tellers sometimes do...
Lastly if you have an account at a bank that will not order you pennies, I would do the opposite. Walk up to somebody at a desk and say "Hi I would like to close my account." and when the ask why "I collect pennies and your bank will not order them for me so I am switching to so and so bank."
This is so true. I have done this many times and it is not problem. I find being 95-100%  honest gets you the best results. |
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cyberdan
Penny Collector Member
USA
289 Posts |
Posted - 03/11/2008 : 12:37:00
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quote:
Originally posted by greencopper
One of the banks has no problem ordering as many boxes as I want, but the tell me they come from the Federal Reserve, and they will only be "new" pennies.
I have one bank that call all boxed pennies NEW and all customer wrapped pennies OLD. Those NEW pennies still give me 18% CU. Check out a few boxes to see whet they really are. |
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cyberdan
Penny Collector Member
USA
289 Posts |
Posted - 03/11/2008 : 12:54:16
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quote:
Originally posted by horgad
Walk up to somebody at a desk and say "Hi I would like to close my account." and when the ask why....."
Good advice! I did that about 15 years ago at BofA, I politly asked for the manager. I told him I was tired of paying monthly fees and needed to close my account that I had since the early 80's. This was before most banks had all that free checking. He said "what do I have to do to keep you as a customer" I said FREE CHECKING. He said no problem and changed my account to senior checking. I was only in my early 40s at the time. I have been questioned a few times by nosy tellers wondering why I had 55+ free checking. Funny thing is last year they stopped that 55+ thing but too late I was 56 and got their normal free checking. |
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greencopper
Penny Sorter Member
USA
41 Posts |
Posted - 03/11/2008 : 16:04:33
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| Well, I tried some of the recommendations....and SUCCESS! I opened an account at a bank that wouldn't let me order pennies. I told the new accounts person that I needed 20 boxes of pennies a week, would that be a problem? she said no problem at all....and if I would like bags so I don't have to unwrap the pennies, she would get those for me also! Thank you to everyone who gave the great suggestions! I am off to another bank to open another account! |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 03/11/2008 : 18:01:18
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Just an hint. Ask at the small businesses in your area to see where they get their change.
Also when they ask me if it is for a business I answer, "Yes." It is my business and not necessarily theirs as to what I do with the cents.
Yes, I have an account where I ask for the cents, most of the time. If I am away from home I will stop at the smallest and oldest looking bank hopefully with a name I don't recognize and ask for change. This is where I have had the best luck, smaller towns, and older banks. If they ask I tell them that I an a business trip and need the change for Monday and won't make it back until my local banks close. For a little change they are generally willing.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/11/2008 : 18:55:53
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| Congratulations greencopper.. that's great news! You better start shopping for a cart now. 20 boxes a week is kind of heavy and you don't want to have to make multiple trips in and out of the bank. |
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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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/11/2008 : 18:56:38
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quote:
Originally posted by misteroman
ND, is that you with the auction on ebay selling Zinc cents?If that works that is a great a deal
Derek
Yes that is me. Just had the crazy idea to try selling a bag of zinc. If someone wants to pile up zinc they won't have to spend anytime sorting. I think someday the zinc will be worth more than a penny, and WTSHTF even zincers will be worth more than those worthless pieces of paper with the dead presidents pictures on them. Anyway I thought throwing a bag on ebay was worth a shot.
Although I think my zinc dumping problems might be over I just found a bank that has a self serve coin counting machine in two of their banks and they are adding a machine to a third bank. So I am going there tomorrow to start an account. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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jorhyne
Penny Pincher Member
174 Posts |
Posted - 03/11/2008 : 19:15:49
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Hi there ND,
I checked out your auction for the unsorted wheats, and recognized the bag they are in as the same type of bag my bank's sorter uses. Do you have your own sorting machine or did you get lucky and buy a bag of solid wheats? |
Pennies For Sale: http://tiny.cc/jorhynespennies |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 03/11/2008 : 19:30:07
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quote:
Originally posted by jorhyne
Hi there ND,
I checked out your auction for the unsorted wheats, and recognized the bag they are in as the same type of bag my bank's sorter uses. Do you have your own sorting machine or did you get lucky and buy a bag of solid wheats?
I purchased the bag at a coin auction. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/11/2008 : 20:04:02
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| I have one of those machines, and I have those bags.. but try as I might I can't get wheats to come out of it unless I put them in 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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greencopper
Penny Sorter Member
USA
41 Posts |
Posted - 03/15/2008 : 07:03:22
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| I had my first big success! I went to a local bank, explained that I will need to order about 20 boxes of pennies a week, and told them that I would open an account if they could help me with that. They said no problem! I opened my account, ordered the 20 boxes and they gave me a mini food processor too!! Then all the tellers started asking if I wanted all their change! Things went well! Thank you to everyone who provided suggestions! I now have accounts at 3 banks with plenty of access to pennies, and 2 dump banks. |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/15/2008 : 07:30:27
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Credit Unions might be a good place to pick up customer rolled pennies.
I went to one the other day for a drive-by and the teller said they don't really even order coins, they make do with what customers turn in. She said they had lot's of pennies in the vault and had no problems selling me $30 worth. She also said she had never even seen a box of pennies before, so I guess she's never worked at a bank.
I'm going to drive by a few more credit unions as time permits and see how many pennies they are willing to get rid of. If they are all customer rolls the percentage of copper and wheats might even be higher than average too. |
Sorting In Northwest Mississippi |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/15/2008 : 11:05:20
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| Congrats greencopper. That mini food processor is one of the best incentives I have heard reported here. Last year I got a Plush Pony, a Blanket, a Teddy Bear, and a Toaster. |
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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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/15/2008 : 16:49:53
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Credit Unions don't order change because it cost per roll. If they are willing use them as a dump bank. When you go find the manager and explain that you want to exchange pennies for pennies and would even give them extras should they desire. Make a point to mark your rolls with a mark.You need your name and account # also. Don't mark in same spot as they blot out your account #. This creates win-win, they get pennies - you dump pennies and if your lucky the exchanges are copper laden rolls.
If you try it let me know how it works for you. |
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Can't get banks to cooperate - help!
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