.. in an effort to cut operating costs Bank of America has announced a nationwide policy change. As of Monday May 20, 2008 non business owners will be limited to $25 in coin withdraw per week..."
just kidding
If the big banks knew what we doing,
1. Would they really care? 2. Would it be feasible for them to try and stop us without crippling ligitimate businesses?
If hoarding remains a relatively small hobby (few people doing it) they will never care. They as corporations are too big and do too much business to notice that a few customers are ordering hundreds of dollars a week in coin. To them it probably doesn't look any different than large merchants who buy coins regularly as well. So unless hoarding starts becoming very popular, I don't think it will be feasible for banks to stop us.
If copper prices keep in the $4/lb range and if we switch finally to a steel penny, I can see a run on the bank for the pennies. With that in mind, expect the big sorter guys to clean the banks out in no time for the coins. Sounds incredible doesn't it? I have seen it many times when an undervalued asset is unpretentiously available.
That was mean Topeka. I read that and here is this unopened letter on my desk from BofA. Also, Monday is the 19th.. Tuesday is the 20th. The letter was just to offer me 30 days of FREE life insurance in case I die from having a stack of pennies fall on me or something.
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.
Bank of America cracks down on hoarders!
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Posted - 05/17/2008 : 15:09:20
