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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 05/05/2006 : 20:02:36
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Where do you obtain most of your pennies or nickels? If it's at banks, (most obvious  ) what kind of bank? Commercial bank, Savings and Loan, branch bank, Credit Union, or other.
Do any of you obtain pennies/nickels at work or from stores?
I have found that often the newer banks in town are best. Some of those sleepy little branches pay-off big and don't even blink when I ask for $100 in nickels. I have been disappointed at some of the major old downtown banks. Some of their tellers have looked at me like I was robbing them or something.
Sometimes I hit-up the stores for a dollar or two in nickels every so often. I really dont know why,I guess it's just a sickness.
Bad money drives out good money.
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Edited by - Ardent Listener on 05/05/2006 20:06:37 |
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realcent
Forum Admin
USA
246 Posts |
 Posted - 05/05/2006 : 21:06:05
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I get my pennies and nickels from branch retail banks, I try to mix it up so they don't look at me funny...they do anyway though.
I do get the old hairy eyeball every now and then when I ask for a box of coins. Sometimes they ask what company I am with, and if I tell them none, I just want them, they get sort of weirded out. My wife said they might be thinking I am just trying to get them to open the vault so I can rob them...who knows.
You mentioned asking stores for a buck or two in nickels; I haven't done that, but I have been asking for my change (under a buck) in nickels, and they haven't complained yet.
I return all my zinc pennies to Commerce Banks, they have free self service change counters, no account needed.
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115 Posts |
Posted - 05/05/2006 : 23:25:09
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I buy my pennies from 2 different banks. One bank the company I work for has an account and they do not have a problem with me getting large amounts of coin. The other bank has 3 branches within a 20 mile radius and I have friends that work at 2 of them. I sometimes only get $5.00 worth but like to buy a box every once in a while because I use the Brinks boxes to store my rerolled coppers in. I return all of the zincs to my own bank because they have a machine and do not have a problem when I bring in a big box of pennies to cash in. My own bank rerolls their own change so I do not get any pennies there. I have not planned on saving nickels yet.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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5 Posts |
Posted - 05/11/2006 : 08:49:12
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| I just get a few boxes of pennies and nickels when I go to the bank every Friday...They have always had as many as I need |
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ImperialFleet
Penny Pincher Member
USA
217 Posts |
Posted - 05/11/2006 : 09:39:19
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| I'll be buying my first box today. So far it's just been going through spare change around the house or pocket change. I'm going to attempt buying s box at the local branch by my house. My problem from there will be finding a coin machine that is free of charge. |
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5 Posts |
Posted - 05/11/2006 : 10:34:44
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| Why are you looking for a coin machine? You mean something that will take your change? Like coinstar? If so don't use it, it just takes your money It is cheaper in the long run just to like buy a coin sorter on ebay if you really don’t want to roll them back up |
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realcent
Forum Admin
USA
246 Posts |
Posted - 05/11/2006 : 11:24:37
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Hi ImperialFleet and Toasty, Welcome!
I agree about not using coinstar. They charge about 8% right? That is ridiculous. If you live in the North East US check to see if you have a Commerce Bank branch in your area. They have a free coin counting machine in the lobby, it is self service and you do not have to have an account there. It works just like coinstar, but they don't charge you.
Alot of other banks have free counting machines in the back, but usually you have to have an account. You could always get out the phone book and call around to different banks and ask.
I like the idea of getting a coin wrapper on ebay if you search a lot of pennies and do not have a free coin counting service in your area.
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ImperialFleet
Penny Pincher Member
USA
217 Posts |
Posted - 05/11/2006 : 17:35:52
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| Yes, by coin machine I meant something like a Coinstar machine, except FREE. There is no way in hell you're gonna get a tightwad like me to pay someone to exchange my money. My wife worked at a credit union for 8yrs, so we are pretty familiar with all of the fee schemes financial institutions have. I will just have to call around. |
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115 Posts |
Posted - 05/11/2006 : 17:57:53
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I guess I am lucky that my bank does not charge me to change my discarded zincs. A few of the girls do not like it when I bring in $40 to $50 worth of pennies at a time because they usualy have to change the bag half way through. My branch is pretty small and they have to get so much to send back to the Fed anyway so they take anything I bring in.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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5 Posts |
Posted - 05/15/2006 : 00:11:34
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My collection has an easy start since my dad hoarded about 35lbs of pennies before 1979. He wasn't thinking copper ... not even sure what he was thinking. I offered to buy them at face value. He also has old silver coins which I'm buying at a dealer's price.
My friend also has a large bottle of coins collected over 10 years, and I also offered to trade the pennies for cash.
My next step is getting boxes at the bank. Another friend is a teller at BoA, and I asked him if anyone has traded penny rolls yet. He says no, so maybe his branch is a gold mine. ;-) |
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7 Posts |
Posted - 05/15/2006 : 08:11:33
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Good morning everyone!
What my wife and I do in our area (central NJ) is that we use Commerce Bank as a point of return for Zinc pennies and several local banks that are on the way home from work as source banks. I stop at the same bank only once per week. This cuts down the odd looks when I ask for pennies.
We mapped the route out so that we do not have to actually go out of the way and waste gas (which eats into any profits).
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/15/2006 : 08:20:44
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Hi Nchap and welcome,
I try to use different banks too when I buy nickels. If I'm out of town and I have the cash, I'll try to buy there. I don't want the word to get out that I'm the nickel hoarding guy. I also don't want the nickel police to come knocking on my door when the coin shortage occurs.
Bad money drives out good money. |
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115 Posts |
Posted - 05/15/2006 : 08:49:03
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quote:
Originally posted by Ardent Listener
I also don't want the nickel police to come knocking on my door when the coin shortage occurs
Keep an eye out for those silent black helicopters and the repair vans that seem to hang around your house. That will give you a clue when they are coming for your nickel hoard.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
Edited by - n/a on 05/15/2006 08:50:18 |
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realcent
Forum Admin
USA
246 Posts |
Posted - 05/15/2006 : 08:54:49
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Welcome Out At The Peak and Nchap.
nchap, you got to love those Commerce bank machines! There is no way I am giving my money to Coinstar. I am going to try to make it to Commerce bank today to return 2 boxes worth of zinc pennies.
I try to spread around my penny and nickel purchases for the same reasons mentioned above.
One time I picked up $20 in nickels, and the cashier smiled at me and asked if I was going to Atlantic City to play nickel slots. I said, "yeah," just because I didn't feel like standing there and explaining what I was really doing.
RealCent
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For more copper cent hoarding information check out:
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13 Posts |
Posted - 05/15/2006 : 16:12:03
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Where in NJ are you guys? I'm in Manalapan (Monmouth County).
I hope we're not all going to the same banks!
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In the land of the blind, the one-eyed man is King! |
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realcent
Forum Admin
USA
246 Posts |
Posted - 05/15/2006 : 17:41:28
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Hey Johnny99,
I am in Northern Delaware, not to far from NJ. I don't know how many copper penny hoarders are in my area, but I still am able to find plenty. I don't know how long that will last...
Are you getting rained on today too? It poured in the morning, cleared up and got nice for awhile, and is now raining with lightning again.
RealCent
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For more copper cent hoarding information check out:
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n/a
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7 Posts |
Posted - 05/15/2006 : 21:24:20
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Don't worry - we are in Somerset county. I trek includes getting pennies from a few banks in Middlesex county though. :)
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 08/24/2006 : 16:19:14
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I found a bank on the way home from work in an area near a lot of retail businesses. They always have plenty of coins, and one of the tellers is a coin and paper money collector. He always makes it a point to have $2 bills on hand and has accomodated my requests for any boxes of coins they can get, no questions asked.
Metalophile |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 08/24/2006 : 17:03:51
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| We only have 4 or 5 charter banks in Canada, but there are branches of all of them all over the place. I have an account at one (Scotia) and a business account I can use at another one (TD). When I have a spare $100 I buy a box of nickels from the local TD, and return all my fake money to the Scotia, because they never have boxes of nickels to sell me. When I'm on a road trip, if I have some money, I'll spend it on boxes of nickels. Took a trip a few weeks back and spent $500 across 5 different banks (see sorting percentages forum) - No hastles from any of them, and only 2 of the 5 asked if I was a bank customer. I plan to do that type of trip again this summer if I can get some money together. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 08/25/2006 : 08:36:33
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| I have been getting my coins from my credit union, which I am on the Board of Directors. They had been ordering Brinks $25 boxes for me each week, but that went sour when Brinks started delivering 99% zinc boxes. I get any loose rolls that people turn in over there. I average 15-30 rolls a week in rolls people turn in. I also have been getting 20 rolls from Walmart a week. I roll the zincers up and put turn them in to my Bank which has multiple locations. I'd love to find a surcharge free coin sorter. I will try to find out if there is a convenient Commerce Bank in Indy. |
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ImperialFleet
Penny Pincher Member
USA
217 Posts |
Posted - 09/01/2006 : 17:07:58
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Tourney, open a First Indiana Bank account they have no fees to cash in coins.
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“Ultimately, the Fed can flood the system by buying any kind of asset, or even dropping bank notes from helicopters" -Fed Chairman Ben Bernanke |
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14 Posts |
Posted - 10/21/2006 : 11:04:57
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Okay... I'm a noob at this, so I realize this is more than likely a dumb question. But I keep seeing people talk about "buying" pennies from banks. What does that mean, exactly?
I just walk into a bank and tell the woman behind the counter, "I want to buy a box of pennies" and she'll know what I'm talking about? I give her 25 FRNs and be on my merry without being asked if I have an account? |
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73 Posts |
Posted - 10/22/2006 : 03:59:22
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I just walk in and ask for a $25 box, then they usually ask me if I have an account. So I show them a debit card and credit card with the bank's logo on it and ask if that's enough proof. That's usually sufficient proof...not that they even looked to see the name on the cards. Then I usually buy with cash, used a withdrawal slip once but then I got to thinking maybe I don't want record of who it was that bought $25 boxes. I have been to a bank that didn't have $25 boxes and they offered to give me a bag with $50 worth once they collected that many loose pennies. I should go back and do that, I'm hoping I get a cloth bag with a big dollar sign on it like in the cartoons 
My primary bank told me if I wanted more than 1 $25 box I'd have to call ahead so they could be sure to have enough in stock and I have no idea how often they get deliveries. I haven't called ahead yet so I don't know how many I'd be allowed to get in one trip to the bank. Also, if you ask them if they are legally obligated to give you a million pennies, they'll give you a funny look. I was just curious, obviously that's a heavy load to get delivered to the bank so you'd think if you could that's a great deal as however much a million pennies weigh, if you paid shipping on that I'm sure it'd be plenty. I was just curious if there was some law that the bank obligated to give you money that is in your account in any legal tender you ask for.
So they usually ask me if I have an account, all banks might not do that but I remember when I was in college I think I got asked if I had an account when I went to the closest bank to get a roll of quarters for laundy. |
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 11/17/2006 : 09:29:56
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The teller at my bank told me that they order coin once per week, (Thursday), and that the shipment usually arrives on Mondays. Not sure if all banks do this. I think I'll start asking for coin at other banks as well. The worst that can happen is they ask me if I have an account and I say "no", and they try to slap an extra charge, in which case I just walk out and try another bank.
Metalophile |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 11/17/2006 : 17:27:50
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For nickels, there is a change machine at my workplace that I use. It gives me three quarters and five nickels, nickels for my hoard, quarters for the laundry.
I am sticking with this change machine, in hopes it may someday malfunction like it did one day where I received five quarters and three nickels for every dollar I put in.
I know, I know, you hard core nickel hoarders are saying
“It only gave you five measily quarters and only three hoardable nickels? What a rip- off.”
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 11/28/2006 : 09:54:56
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Chevy Chase Bank also has free coin sorting machines, too. They've been treating me well so far.
Do you think banks are offering free sorting so they can get coins from their customers, thus avoiding armored delivery service charges? |
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Topic |
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Where do you obtain your pennies or nickels?
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