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topeka
Penny Pincher Member
160 Posts |
 Posted - 04/01/2008 : 18:06:41
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Hello Group,
You realize you have to make a $750 zinc dump in one day. You have access to 10 banks that have self service coin counters in the lobby. Your goal is to dump as efficiently as possible WHILE flying under the radar. Do you....
A. Dump $750 at one bank telling them you will not be back for 10 weeks.
B. Dump $250 at three banks telling them you will not be back for 3 weeks.
C. Dump $150 at five banks telling the you will not be back for 2 weeks.
D. Dump $75 at 10 banks showing up every week?
E. Better idea!
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Silver..poor mans gold
Copper..peasant silver |
Edited by - topeka on 04/01/2008 18:11:14 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/01/2008 : 18:17:37
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| You roll it up, put it in boxes and buy gas with 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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MormonMetal
Penny Pincher Member
USA
150 Posts |
Posted - 04/01/2008 : 18:17:46
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| how far apart are the banks? |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/01/2008 : 18:25:48
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Don't tell them anything.. sneak it in at lunch time.
Actually, it depends on machine capacity, how understanding the banks are, whether they have told you about any limits etc. It is difficult to stay under the radar and dump masses amounts of zinc. This is a problem we all face.
I choose E: You bag it up using your own high speed counters (Much faster than the bank lobby counters, and certainly more convenient.) Then you haul all the bags down to your favorite dump bank where they know you and deposit them at one stop.
Antoher solution is to get partners to do deposits 5 minutes after yours so they don't think it is all you.
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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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topeka
Penny Pincher Member
160 Posts |
Posted - 04/01/2008 : 19:50:11
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| Banks are about 3-5 miles apart |
Silver..poor mans gold
Copper..peasant silver |
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MormonMetal
Penny Pincher Member
USA
150 Posts |
Posted - 04/01/2008 : 20:07:28
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| I'd fill each one up per visit. Most machines will hold between $50 to $100 in cents. That way you won't bother the bank folks too much. |
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 04/01/2008 : 21:15:13
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| I dump $200.00 at a time at three different branches of the same bank in the self serve coin counter. And then I deposit the money into my account. I just do this once a week and so far they don't have a problem changing bags when I fill them up. With the self serve coin counters I don't know how they can say too much they are there for the public to use. |
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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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 04/02/2008 : 06:20:21
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I've deposited $600, $400, $475, and $425 at a time in sealed plastic coin bags which I weighed out to between 13.6 and 13.8 lbs.
The tellers didn't seem to have a problem and on a couple of occasions offered to help me carry the bags in.
I told them I didn't want to trouble them any more than necessary and was just grateful they didn't mind taking so many pennies at one time.
They said it wasn't a problem, since they ship the bags unopened straight to the Fed Reserve branch in Memphis for exact counting.
I assume that except for moving the bags from where I leave them to into the vault they don't even have to touch them, the armored truck drivers load the coins from the vault to their trucks.
So far I'm doing great with a single dump bank and just two branches. I can't see my output increasing any time soon so this should do me for the foreseeable future. |
Sorting In Northwest Mississippi |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 04/02/2008 : 07:13:44
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You are golden if you have that many free self-serve coin counters near you. I am a big believer in spreading the love. So, assuming that your banks use De La Rue's and hold $150 in pennies, I would follow these rules
1. Try not to fill the machine more than once per visit. (so figure about $250 depending on how good the banks are at keeping their machines close to empty.) Filling the machine more than once per visit means that you pretty much have taken over a teller for a LONG time such that they won't be able to serve other customers.
2. Try not to fill a machine up at the same bank more than once a week. They get use to a once a week visit and even start to anticipate it if you keep the same schedule. More than that and they won't have time to "recover".
3. Try to go during off times. If you fill the machine when there is a line out the door, the tellers can be a little grumpy. If you do happen to go during a busy time, feel free to almost fill the machine up (usual $100+ in zincs). Note that this can turn into a big time waster as then you have to stand in that long line.
So given the above that leaves you lots of options like dumping $250 at 6 banks every other week ($750 a week average) or if you have to go at busy times, dumping $100 at 8 banks every week (not fun).
Also I do make an exception to rule one with one of my 3 dump banks. One teller is extremely friendly and fast about emptying the machine so I occassionally fill the machine their twice in one trip with dumps as large as $400, but only during slow times. So play it by ear a bit... |
Edited by - horgad on 04/02/2008 07:15:10 |
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Scenerio # 1
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