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 Posted - 07/27/2008 : 20:56:08
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Okay, I'm pretty new to this, and I would like to approach it as a hobby, but also something of an investment.
Anyway, what do you guys ask for when you get your pennies?
I went to my bank to get some for the first time a few days ago and asked for 50.00 in pennies, I was prepared for the funny looks, but they would only give me 10 dollars worth, they said they were short on pennies, so they couldn't give them all to me. So I was wondering if most banks just have rolls of pennies or do they have 50 dollar bags of them back in the back? I just want to know how I can make sure the bank complies with my big orders.
Also, my bank only has 2 branches in my town, So really I have only 1 bank to obtain from, and 1 to dump at. BUT, there are plenty of banks in my town that I don't have an account at, do any of you try to get small amounts from banks other than your own, or will they only let you get pennies if you have an account?
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Bobby Deese |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 07/27/2008 : 22:27:40
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quote:
Originally posted by fhbob
Okay, I'm pretty new to this, and I would like to approach it as a hobby, but also something of an investment.
Anyway, what do you guys ask for when you get your pennies?
I went to my bank to get some for the first time a few days ago and asked for 50.00 in pennies, I was prepared for the funny looks, but they would only give me 10 dollars worth, they said they were short on pennies, so they couldn't give them all to me. So I was wondering if most banks just have rolls of pennies or do they have 50 dollar bags of them back in the back? I just want to know how I can make sure the bank complies with my big orders.
Also, my bank only has 2 branches in my town, So really I have only 1 bank to obtain from, and 1 to dump at. BUT, there are plenty of banks in my town that I don't have an account at, do any of you try to get small amounts from banks other than your own, or will they only let you get pennies if you have an account?
To major ways to get pennies => "drive-by" and "order". Like everything physically stocked, banks will have between a little and a lot of pennies from time to time. I've walked into a bank and found out they just received a school penny drive => hundreds of dollars worth. Other banks give them out to business customers regularly and get short from time to time.
The harder part is finding a good place to dump those zinc pennies. If you buy pennies regularly and casually ask you will soon see patterns. The bank that pleads a penny shortage over and over is really begging for your help and it is your patriotic duty to supply them with zinc pennies. The bank with the kids and little old ladies cashing in rolls of pennies is your new friend. A bank that will order boxes for you is your saviour.
Most of us buy coin all the time at places we don't have accounts. Usually no issues if you are reasonable, smile, and are ready with dollars in hand to trade for pennies. Generally you are going to need an account to dump into unless you want to deposit your zincs to my account.
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“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 07/30/2008 : 18:22:49
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| For some reason I always get the account hassle. I opened accounts at a bank and a credit union so I can always get coins from one and dump at the other, spreading them around between branches so they don't get overstocked. Once you have an account they get rather concerned about taking care of you. (If they don't that's a good reason to close the account.) |
A penny sorted is a penny earned!
Please use tinyurl.com to post links. Long links make posts hard to read. |
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Nickelless
Administrator
USA
5580 Posts |
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n/a
deleted
51 Posts |
Posted - 07/31/2008 : 14:14:32
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I'm a newb to this myself, but I walked into a bank that I have no account with and just asked if they had a box they could sell me. The teller said they didn't have that much, but was more than willing to put a box on their order for me and I could pick it up when it came in. They order weekly, and I picked the box up in two days. When I picked it up they asked what I was going to do with them and I just said that I was a collector.
I haven't dumped them yet, but my Credit Union has a machine in the lobby that credits my account so I'll probably dump them there & re-order from the other bank. It was a nice mix, btw- 29%. I haven't finished checking for wheats yet. |
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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 07/31/2008 : 20:45:45
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See if you can set up a "standing order," where every week, you can get $50-$100 in penny boxes.
The pennies usually come in boxes of $25, but sometimes you can buy bags of $50.
Simply tell them if they can order X dollars in the coin you want. Nuthin to it! |
Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 07/31/2008 : 21:05:01
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| Yes when asked I always say I sort out the old ones and sell them to Americans on ebay. Americans will buy ANYTHING on ebay. I also say it is not a big money maker (true and it dispells the f word) and it is relaxing for me. Who can argue with that. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Couple Questions about obtaining pennies.
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