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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/23/2007 : 20:52:41
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One of the main challenges for most of us is where to source all the pennies and nickels we want to sort. I usually order several boxes of pennies from my regular banks each week. I also stop by several other banks and just ask if they have any pennies or nickels. Usually you can't get more than 1 or 2 boxes of coins unless you preorder. I also get a few rolls from our daily coin delivery at work. My favorite way is to get a phone call from one of my banks to pick up customer wrapped rolls that have just been deposited. I left my card with several of my banks and told them to just give me a call when they get a large customer deposit of pennies or nickels. They are usually very happy to do it since it means they won't have to ship them. I have gotten some pretty good groupings of CWRs this way.
"Preserving REAL coinage.. 2 tons at a time"
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43 Posts |
Posted - 08/24/2007 : 14:21:58
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| I just call that new franchise, Penny Express, and they deliver 20 boxes at a time to my home. They stack them in my garage, and then carry out my zincs to their truck, where they count them in their in-truck sorter and adjust my account on the spot. They then bill me every month for the balance I owe. :) |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/24/2007 : 15:07:37
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They let you float out payment a few months on your balance too, right? I would use Penny Express, but I can't be home for the deliveries.. have to be at the day job to pay for this bad penny habit of mine. Besides, 20 Boxes just isn't enough to satisfy my needs.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu678550(150000 Reserved):US5Ni17500:CA5Ni1150 |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 09/01/2007 : 17:34:05
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When I am serious about collecting coins I do three different ways. I found my local bank has a coin sorter. They are more than willing to let me buy the bags that have gone through the sorter. Most banks put $50 in them, but my bank has enough little old ladies that they only put $25 in each one.
Sometimes I walk into a bank that is close, any bank will do and I just tell them I need a box of cents or nickels. If they ask, I tell them my business is short and I need some. The city has enough small businesses that very rarely do they ask if I have an account. My business is my business.
The third is sometimes I stop on my way out of the store, Wal-Mart and most grocery stores have a few coins on hand and I ask for just 2-3 rolls at a time. If they ask I tell them it is for my business.
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27 Posts |
Posted - 09/03/2007 : 15:08:04
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Penny Express ?? is that a real business ? where are they located ? Website ?
thanks |
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27 Posts |
Posted - 09/03/2007 : 15:13:39
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| Opps sorry ment to say hi to all. Been reading all your posts since last fall. Bought 1 of Ryedales sorters a few weeks back and love it. Need more pennies ! So I got excited when i saw Creekrat's post. I don't feel so strange after reading the forum no matter what my wife says ! |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 09/03/2007 : 17:40:47
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Welcome to the forum rosebud100. Glad you finally joined. That Ryedale machine is fantastic.. I love mine! The one problem it creates is that you need more pennies cause that monster eats through them at a furious pace. The other problem is that after you go through them you need to dispose of a lot of zinc so you can free up your money and get more unsorted boxes. How do you get your pennies now? How many do you sort per week now that you have a machine? What have your percentages been running?
Alas, Penny Express is just a running joke between Creekrat and I. Those of us that do large amounts of pennies fantisize about having them delivered and picked up.
We all have folks close to us that think we are strange because we hoard copper pennies, but here we are among friends who understand our obsession. Here's how it goes at my house:
"What site are you on now?"
"The penny hoarding board"
"The penny hoarding board?.. Well you better get on the penny unhoarding board"
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time... and FAKE coinage.. a quarter ton at a time.. just for speculation"
HoardCode0.1:M49/15USCA:US1Cu700250(150000 Reserved):US1Zi150000:US5Ni9500:CA5Ni1150 |
Edited by - HoardCopperByTheTon on 09/03/2007 18:32:42 |
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27 Posts |
Posted - 09/03/2007 : 19:30:43
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i'm in East Tn. I get them from the local banks. Some in the boxes from "CWI" Most banks here use them. 1 bank does their own. I have one branch that saves the $50.00 bags of loose pennies for me from their coin machine that their customer's use. I dump at another bank but the tellers don't like it if i bring in too much at a time, usually 100-150 dollars is ok. So far all % coppers are 20-25% from either source. From what i read thats average. I do about $200.00-300.00 per week right now. Too much outdoor work this time of year.
Man, that "penny Express" sure sounded good. Oh well. The tellers have told me about the big vats of pennies at the place where they roll them. Reminded me of Scrooge McDuck's money bin. :) |
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Posted - 09/03/2007 : 19:32:38
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i'm in East Tn. I get them from the local banks. Some in the boxes from "CWI" Most banks here use them. 1 bank does their own. I have one branch that saves the $50.00 bags of loose pennies for me from their coin machine that their customer's use. I dump at another bank but the tellers don't like it if i bring in too much at a time, usually 100-150 dollars is ok. So far all % coppers are 20-25% from either source. From what i read thats average. I do about $200.00-300.00 per week right now. Too much outdoor work this time of year.
Man, that "penny Express" sure sounded good. Oh well. The tellers have told me about the big vats of pennies at the place where they roll them. Reminded me of Scrooge McDuck's money bin. :) |
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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 09/18/2007 : 01:24:01
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Hello all,
Finally, I have found I site that assures me that I am not the only copper addict out there.
I am a regular sorter (around $50-$100 weekly) and obtain my pennies from banks, Walmart (sometimes), friends, and flea markets. When I go to the bank, I like getting boxes of pennies for the fact that I can use the box to store my sorted coppers. Of course the percentages of coppers in boxes are around 20%-35%. I have found, however, to up my percentages to ask for loose rolls that come in from penny drives and schools. On one occassion, the percentages were about 90% copper and 10% zinc. That only happened once, though. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 09/18/2007 : 03:10:14
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Welcome to the forum Epaphras. Lots of serious copper addicts here. Glad to have you join us. How did you find the site?
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time... and FAKE coinage.. a quarter ton at a time.. just for speculation"
HoardCode0.1:M49/15USCA:US1Cu710150(135000 Reserved):US1Zi150000:US5Ni9500:CA5Ni1150 |
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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 09/18/2007 : 06:31:05
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| I found the site searching for any copper hoards for sale other than ebay. |
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43 Posts |
 Posted - 09/18/2007 : 12:17:01
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quote:
Originally posted by rosebud100
Penny Express ?? is that a real business ? where are they located ? Website ?
thanks
I was just kidding about Penny Express. Funny, that post disappeared off the forum and now it is back.
Anyway, I have found a new, very convenient place to get pennies. It is at a bank branch located inside a grocery store near me. I don't know why I didn't think of it before. I just ordered 10 boxes of pennies, which should arrive at the store on Thursday. So I will just buy a few groceries (like any normal person), then stroll over to the bank window and load the 10 boxes into my grocery cart and wheel them out to my car. Solves the very inconvenient problem of how to get pennies from bank to car.
I was going to open a small account at this bank before I ordered the pennies, but then I wondered if they would even realize it if I did not have an account there. I'll decide when I go to pick them up on Thursday. If they ask me, I'll just open a small checking account there on the spot. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 09/18/2007 : 14:10:36
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I thought the Penny Express idea was great.. you really had me chuckling.. so of course I had to go with the flow and perpetuate it.. I didn't mean to mislead anybody.
The grocery store bank sounds like a good idea.. I will have to check out some of the grocery store banks in my area.
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time... and FAKE coinage.. a quarter ton at a time.. just for speculation"
HoardCode0.1:M49/15USCA:US1Cu710150(135000 Reserved):US1Zi150000:US5Ni9500:CA5Ni1150 |
Edited by - HoardCopperByTheTon on 09/18/2007 14:11:38 |
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26 Posts |
Posted - 09/18/2007 : 14:30:10
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Well, I had an interesting experience yesterday at the bank where I have been getting my pennies (only $50.00 a week). This was the ONLY bank out of 14 locations (7 separate banks and credit unions) that would sell me even a single roll of pennies! "My" coin vault teller said she doesn't think she can order coins for me any more...that there is a fee involved every time they order coins. I had specifically asked about this when I first talked to her a month ago, and she had assured me that ordering pennies for me was not a problem. So I figured it's time to open an account. I asked her what the minimum amount would be to open an account there. Instead of answering my question, she said, "This bank is looking for LONG-TERM customers." The conversation ended with her saying she would double- check with her manager, but it is obvious I won't be getting any more pennies from them. (Sigh) I guess it's back to a roll here and there from retail stores and gas stations...
If you value your Constitutional liberties, vote for Ron Paul for president!
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/18/2007 : 15:05:58
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Scoring pennies from a bank is a game. Sometimes you have to act like you are bigger than you are. Make the tellers think you are big customer and they will make an effort not to really upset me to the point of seeing yellow you off. Give the tellers any body language or slip of your tongue that lets them know that you are small time and they may cut you off. Most tellers do not want to haul around penny boxes if they don't have to.
All this is easier to do if you are older and dressed in casual business attire. I don't even have an account at my best source bank, but all of the tellers and the manager think that I do. They all know me on sight and by name and I know all of them by sight and by name. They think that I am some well funded coin collector (not some penny hoarding cheapskate) and they are happy to pay the penny fees to Brinks to keep my (imaginary) business.
I try to only order 5 boxes a week from them because I don't want them to start digging and finding out that I am net loss to them every week.
If you want an almost guaranteed way to get pennies from a bank, I would register a business name in your area (usually not that expensive), give the business a name like Coins USA, open a business account at a bank of your choice, and while opening the account make sure that the manager knows that you own a collectible coin business and that you will be placing a standing order for x number boxes of pennies a week. If the manager balks, let the manager know that you will be opening your business account elsewhere.
When you open a business account, the manager has no way of knowing if you business has revenues of $100 a year or a $1,000,000 dollars year and it is not a question that they can easily ask! They will be judging you from your appearance and confidence in speech and nothing else. If they take you at all serious, they are not going to pass on the potential opportunity of having you as a client over the worry of a few dollars in Brinks fees. |
Edited by - horgad on 09/18/2007 15:08:33 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 09/18/2007 : 16:26:39
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Sorry to hear about your source bank cutting you off, PennyLane. I agree with what horgad says about scoring pennies from a bank being a game. The more pennies you try to source, the tougher the game is. Horgad offers some great advice about appearing bigger than you are. Those bankers can smell money, or the lack thereof. My favorite tactic is to stop by one of the banks my company has an account with to personally deposit a check for a couple hundred thousand.. then I say "Oh, can I get a few boxes of pennies while I'm here?" After a few times they start to know you by sight and you don't even have to be making a deposit to pick up a few boxes of pennies. I guess I meet most of the parameters since I am older and I am always dressed in casual business attire (that is what I wear to work every day). I guess they think I am a bigger customer since my standard order at each bank is 24 boxes at a time. Of course I have accounts at all those banks. I thought about the business account angle, and it seems like a good way to go, but I would be afraid they would put me on account analysis, where they measure all the coin you are getting or turning in against your average daily balance. If they did this, I would probably end up owing humungous bank fees since I hardly ever leave much money lying around in the bank. Getting rid of the zinc is a bigger problem for me than sourcing the pennies.
There is a cost to the bank for moving all that money back and forth, but it varies by institution. Some will have to pay per box or per shipment, while some may be under contract with the coin service for a set fee per month where they have to pay whether they get boxes of pennies shipped to them or not. The ones under contract may have a weekly or monthly maximum.. depends on the terms they have with their coin supplier. What you can do, and what I do with several banks that don't order for me, is give them your phone # and tell them to call you when they get a big deposit of pennies or nickels from a customer.. that way they don't have to ship it, and you become their best friend.
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time... and FAKE coinage.. a quarter ton at a time.. just for speculation"
HoardCode0.1:M49/15USCA:US1Cu710150(135000 Reserved):US1Zi150000:US5Ni9500:CA5Ni1150 |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 09/18/2007 : 23:24:56
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I've only had one problem sourcing coins. Last week i was sourcing halves. I went into several banks and got small amounts of halves (about $5 per bank). I tried another bank and the teller had $30 in halves, "i've been trying to get rid of these forever" she said. I was about to trade frns for halves when another teller asks if i have an account to which i say no and they deny me halves. I'm p'd off because this is the only bank that has denied me coin. I've been denied trying to return zinc at a few banks which does not bother me, but selling me coin, i swear. Next time i get an urge to find silver i'm going to place an order with one of my two banks i actually have money in. If this bank denies me halves i'll just threaten to move my money and i'm sure they will think again (i actually do have a substantial amount in this bank although i can't actually touch much of it, inheritance and all). I buy pennies from every bank in this county minus two. I've been taking zinc back to banks in the county where i go to school so i will probably start getting pennies from the two in this county i usually return coin to before long. I do usually dress the part of a well to do 20 year old at least half of the time, and i must admit that this helps. I'm a farmer and half the time i'm in greasy dirty clothes and a cowboy or bucket hat on my head, but the other half (when i've been at school) i dress well and wear one of my fedoras. If they see you dressed well most of the time they will think you are "someone" but you just dress "comfortably" once in a while, especially if you go into that bank a pretty good bit and they know your face. To wrap this all up and all, just remember, you don't have to do business with a bank if they are not nice to you. There are plenty of banks that will cater to your needs. If they are real nice think of opening an account. I like to do business with people who are nice and congenial.
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CommandD
New Member
22 Posts |
Posted - 09/18/2007 : 23:52:48
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To all those who complain about banks not selling you coins without an account please know that most banks won't sell me coins with an account!
I have accounts at six banks and most of them have a little less than six figures in them (we just cashed out of the housing market last year) so I feel like I have to be one of the bigger local customers. I've ordered boxes of halves at every bank - and yet to receive a single box!
Maybe it is just L.A., but if I ask for anything more than some loose rolls of nickels (4 silver ones last week!) I get turned away every time!
Of course, that doesn't mean I won't keep trying... |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 09/19/2007 : 00:01:58
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Maybe it's just our southern hospitality that makes it possible for me to get coin at every bank (except for that one.) I like your mentality: Never give up.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 09/19/2007 : 02:12:31
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I like your attitude CommandD.. never give up. Think about what Jason said above about not doing business with a bank that is not nice to you. The reason there is a bank on every corner is so that if one does not treat you right, you just walk across the street to another. If I were you, I would vote with my feet. I understand that you have to spread the money across several accounts to keep below the FDIC insurance threshhold, but when you have real money in an account you would expect to be treated a little better by those banks. I have accounts at about 6 banks.. most with balances in the low 2 figures.. and they treat me just fine.. I can order 24 boxes at a time once or twice a week at a couple of my banks. Occasionally they flake on me, but most of the time they come through. There are probably about a hundred banks in your area.. you just need to find one that treats you better. Go in and interview the bank manager at each prospective bank and tell them that you would like to open an account with 95K and that you have certain requirements about ordering coins for you. You will find a few that will do business with you. Then open these new accounts one by one and close the other ones one by one making sure to tell them why you are closing your account. The other way is to just go into one of your existing banks and ask that they get you the coin you want by Friday. Go in Friday.. if the coin is not there, tell them that you would like to close your account immediately and have them cut you an official bank check. Then use that check when shopping for your new bank that will actually give you some service.
If your percentages are low.. just sort more.
"Preserving REAL coinage.. 2 tons at a time... and FAKE coinage.. a quarter ton at a time.. just for speculation"
HoardCode0.1:M49/15USCA:US1Cu710150(135000 Reserved):US1Zi150000:US5Ni9500:CA5Ni1150 |
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43 Posts |
Posted - 09/20/2007 : 15:56:33
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| I think that attitude does make a huge difference. When I order boxes of pennies, I always act as if it is the most normal thing in the world, even though underneath I am dreading it. By acting as if it were perfectly normal to order 10 boxes of pennies, I never seem to have any problem. Here is the difference. Instead of saying "Do you think it is possible to order some pennies for me?", I just say "I'd like to place an order for 10 boxes of pennies for your next coin shipment". |
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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 09/20/2007 : 17:11:38
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The bank closest to me where I used to a main source bank started getting angry when I would ask for a box of pennies once or twice a week. The head teller said I would have to let them know in advance if I wanted a 'large' amount pennies. So I stopped doing pennies with them for a while (mainly because I had to prepare to go out of town and I hate their additude). Today I went to make a withdraw and the teller asked my favorite question--"how would you like that?" So I told her half pennies and the rest cash. Fotunately I was able to get a box without any attitude problem from the others (which were handling other consumers).
My main source bank has never given me any problems. When I went there today I asked to trade pennies and since they are always nice to me (they all know me by name and I likewise) I also opened an account with them (previously I was an affiliate).
My thinking is if banks are nice to you, be nice back. If not, there are other bankks out there who would appreciate your business whether small or great. |
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Jason
Penny Pincher Member
USA
138 Posts |
Posted - 09/21/2007 : 00:59:34
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I'm like creekrat in that i act like asking for pennies is the most natural thing in the world, but unlike her i do not dread it. I do often get questioned (usually after a few visits to that particular branch) why i need so many pennies. I always repy the same way. "I collect pennies and I go through alot trying to find old ones." It relieves their curiosity and it is the truth once you think about it. I do go through alot and i do collect them (hoarding is an extreme form of collecting) and pre 1982 is old to me. I wasn't even a thought in 1982, lol. There are several tellers who actually will keep old wheats and such when they find them in their drawer. Most of the time they offer to give them to me for free, but i always reimberse them.
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/21/2007 : 06:39:49
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"The head teller said I would have to let them know in advance if I wanted a 'large' amount pennies."
This is par for the course. The banks need to ensure they have enough boxed pennies to satisfy the needs of their business customers so it can be difficult for them to give out boxes randomly unless the know for sure that they over ordered.
If I were you, I would go with the flow. Place an order for a box of pennies. Pick it up in week and make the order again. The banks are all set up do to this...its standard operating procedure. And once you get the tellers to be use to you coming in, picking up, and ordering pennies every week, you are "in" as a regular and everything will go smooothly... |
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Where do you obtain your pennies or nickels?
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