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3 Posts |
 Posted - 05/07/2008 : 20:30:13
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I've been reading the forum for a couple of months and looking into different options and learning how things work.
So far I have only gone through 4 boxes of pennies with the following results. I averaged 29.54% copper, 10 wheats, 22 canadian, and 3 dimes per box. It's been interesting trying to just find places to get boxes. I only belong to 2 credit unions with several branches in town. The next step is to open an account at regular bank and set up weekly orders for coins.
This week I went to cash in some coins at the credit union and it was crowded with 2 women cashing in boxes and bags of coins. I had some checks to deposit so I asked the teller what was going on. The teller said they did a coin drive at the elementary and they were cashing them in. I was too shy to ask the women them if I could by them off them. I went back to cash in some coins the following day and one woman was still there cashing in pennies. I talked to her for a while. She had to count the pennies from each child and determine winners and stuff. She let me cash in a bunch of coins and I left. I went back a day or two later to cash in a bunch of nickels. The light came on the machine and the teller had to come work on it. Turns out I broke it somehow. I was able to talk to the teller while he worked on the machine. He said the school cashed in maybe $4000 in pennies. I asked if I could by the bags and he said no, that they get picked up and sent back to the fed. He let me look through the trash bin and stuff, but all I found was a 1932 canadian nickel. I have asked this credit union a couple of times if I could purchase the bags from the machine, but the answer is always no. At least they are fine with me dumping so far.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/07/2008 : 20:36:09
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| Welcome to the forum hoverboy. Just keep asking.. some guys here have gotten a no over and over and then eventually it became a yes. Sometimes you can talk to a manager also. It costs them money to ship those coins off to the fed so it is an advantage to them if you buy them. Of course if you start buying all their pennies you might have to find a different dump bank. Another strategy is to offer to help the folks that are running the coin drive by doing all the counting for them and converting it to folding money. This can work very well if you have a decent coin counting machine. |
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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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 05/07/2008 : 21:15:25
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Yes,
Talk to the mgr and/or the ppeople doing the drive.
BTW I have gotten a steady source of bags. A small bank about 2 hours from my house is saving their bags for me. I go there several times a month for work, so I swing by on my way through. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/10/2008 : 00:34:14
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They are doing a big cancer drive where I live this summer and I'm friends with the girl in Charge.I keep mentioning a penny drive and I think I have her convinced!!!!!
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Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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3 Posts |
Posted - 05/10/2008 : 09:47:58
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Thanks for the advice. I have talked to 2 of the tellers about buying the bags on different occasions, one of them acted like it was totally out of the question, and the other one seem more open. I will keep trying and I think talking to the manager will help. Especially if it costs them money to have them picked up.
I don't have a coin counting machine unfortunately. So I guess the next question would be where to get one and what kind? I will search the forum.
I am new and still learning. At first I felt weird just asking for boxes, now I know what kind of questions to ask and have been doing more research and getting better. Thanks everyone. |
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