The pennies in the bank coin machines, that is. I asked a teller at my main supply Credit Union today if I could get any loose pennies from their machine. She asked the vault manager and she came back with "she said that those cave to be accounted for and sent to the fed." Is this true? I have gotten this response before and thought it was just ignorance but do the banks (or credit unions in my case) send them to the fed or is this just who they have a contract with, in-lue of Brinks Or Loomis? Just wondering.
They contract with Brinks or similar. I asked my credit union and they said they send to Brinks. I actually marked a few hunderd pennies and a week later I found 3 of my marked pennies in a Brinks sealed box I received from another credit union. I live in Indianapolis and was shocked it only took 1 week to get them back. Yes they were definitely my pennies as I only marked the obverse with a green permanent marker with a T. All of them were of similar size, location, color of those I marked and they were all zinc.
Just depends on the banks policy, some ship all bags to the FEDS and others will let you buy them. I am working with a couple of different banks that will exchange bags with me if they have any when I come in. Can't get much better than that. I walk in with 2 bags of zinc and walk out with 2 new bags to sort, and they still have 2 bags to work with if they need to roll any up.
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.
the only bank near me that will sell bags is my dumb bank. it is the only bank i can dump at with out rolling though so id rather no roll then get a bag
I aked two banks last week about buying bags. The tellers at both looked dumbfounded. They had never had anyone ask before and had to check with the mgr. The mgr wanted to know if I was serious and was happy to sell them to me. I suggest going back and check with the mgr not one of the tellers.
One of my banks will let me buy any bags I want as long as I give them notice. Supposed "policies" have a way of changing depending on which banker you're talking to. Talk to managers. Be polite.
What do they do with them?
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Posted - 05/02/2008 : 12:09:07
