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deleted
15 Posts |
 Posted - 10/31/2008 : 17:26:16
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I discovered something interesting here in Wash.,DC: Among the many banks here, I go to PNC Bank to get pennies for hand sorting. There never had been anything noteworthy about the pennies: The typical 21%-23% average like anywhere else in this city- until this week. Although I occasionally get all-zinc brand-new penny rolls, I haven't seen this one: Bank wrapped rolls of 1983-2008 rolls of pure zinc, and not a single copper! I went to another PNC branch, and yep! Same thing. They are obviously sorting these pennies. The shape of things to come? Could be. I don't know about PNC in other places, like Pittsburgh, PA.
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 10/31/2008 : 17:53:06
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I just don't think that it is in the banks best interest financially to sort out the coppers, then just sit on them. Regular guys, or as regular as guys like us can get, do have machines that tightly wrap the rolls in paper. Those could possibly be someones dump, just spread around so not to tick off the individual branches. Easier to dump rolls if they are in paper like that. That's my thought.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 10/31/2008 : 18:08:41
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I've never heard of a bank sorting out copper, and at any rate, banks generally outsource thier coin operations.
I have heard Coinstar sorts out copper pennies and inventories them. In Canada CDI sorts out Ni, though not copper that I've seen yet. There are other coin processors who do it too - and several are members here. As Deal says, people can and do own wrapping machines.
All the more reason to go sort and save some copper because the big boys can and will wipe it out one of these days. |
“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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deleted
15 Posts |
Posted - 10/31/2008 : 19:13:45
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| Yeah, to clarify, I should have said, that SOMEONE, and probably not the bank, is sorting those pennies. But I'm not sure it's a fellow sorter, and instead believe that it's the outsourced coin service operation, as LEGACYPAC suggested. Also, I'm NOT a "new member" (I just don't post that much!) |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 10/31/2008 : 20:12:54
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quote:
Originally posted by centavito
Yeah, to clarify, I should have said, that SOMEONE, and probably not the bank, is sorting those pennies. But I'm not sure it's a fellow sorter, and instead believe that it's the outsourced coin service operation, as LEGACYPAC suggested. Also, I'm NOT a "new member" (I just don't post that much!)
Why not if I may ask?
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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TXTim
Penny Hoarding Member
629 Posts |
Posted - 11/01/2008 : 08:33:57
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Could be one of those Brinks boxes that they sorted for Coinstar.
Common here. |
Beer is my currency. |
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Dan52
Penny Collector Member
USA
422 Posts |
Posted - 11/01/2008 : 10:25:39
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| I have seen boxes of all new pennies but not boxes that had all dates from 83 to 08. |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/01/2008 : 11:23:17
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I stopped with my copper box searches with one bank chain because they were just getting in the plastic wrapped zinc pennies. That is when I switched to nickels. I am back to pennies because one of the mega-banks here has the nice paper-wrapped ones with the swiss-cheese holes box. I picked up a few the other day and off the bat I could see a few rolls with the distinctive wheat-back showing in them. You kinda know it is going to be a good one possibly when you see some obvious wheaties staring right at you. As I posted in another thread, I am starting to pile boxes of pennies for the winter doldrums. The days where going outside will be limited, and driving will be less frequent too.
It probably is not too far-fetched that some sorters have been dumping their zincs in the counters in our regions and the result is you get the zinc mother lode in the rolls. If copper prices keep falling, how long will coin vendors like Brinks want to hold onto a non-interest bearing asset like copper pennies? The government might buy them at face value from them but who else would want to pay a premium except the small-time collectors? It would be interesting to see if more and more copper penny hoards start popping up on Ebay and such as the carrying cost of them do not make for much of an investment touch-down for guys who need cashflow to exist. |
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cwgii
Penny Hoarding Member
USA
924 Posts |
Posted - 11/01/2008 : 21:16:24
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in 100k of sorting, i have NOT found a roll with a wheat showing. so far the southwest has yielded no more than 16% per box.
though i just got a cwr that the oldest was 1967. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 11/01/2008 : 21:21:01
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Man, 16%. That's a tough break. Is it the same for you if you can get bags? My boxes average 20-22%. Bags are over 30% usually.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/02/2008 : 00:30:21
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quote:
in 100k of sorting, i have NOT found a roll with a wheat showing.
I really have to honk my own horn now. When you mentioned not finding a roll with a wheat showing I had to sort the box. Finding rolls with wheats showing is not typical. Grand total of 146 wheats found in these 50 rolls, nearly 6% in wheats alone! I tapped into someone's collection dump. A synopsis of the good dates I found:
3 - 1909 including a very good 1909 VDB
1 - 1910
6 - 1911
1 - 1913
2 - 1917
1 - 1918
1 - 1920
5 - 1937
2 - 1939
1 - 1943
plus numerous 1940's and 1950's decades for remainder.
The 1943 got me jazzed and then I found a few 1911's and a 1909 and then a shiny 1909 VDB. Many of these coins were bright and shiny but with signs of wear. Had to be someone's collection thrown into a hopper of pennies. Almost like the collector polished many of them or something. I was doing a random bank drive-by looking for halves and they had none, figured I should hit them up for pennies. Glad I did. I will hit them up Monday for more boxes if I have a chance. If you see obvious wheats on ends of rolls, bingo! |
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deleted
15 Posts |
Posted - 11/02/2008 : 20:23:30
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| Here in DC, the average is about 4-7 wheats per 1000 pennies. |
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deleted
16 Posts |
Posted - 11/02/2008 : 20:36:40
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| Here in small town WI, the average is about 4-5 wheats per 1000 pennies. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/03/2008 : 00:04:41
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I have probably seen it all.. new zinc boxes, solid dud boxes of circ zincs, etc. The good news is that even though you get duds, you will find that a month or 2 later you might get normal pennies from the same source. Just switch up the sourcing a little and do an occasional spot check. I may also be guilty of rolling a few of my own..   |
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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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/08/2008 : 09:49:06
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| Got my fingers crossed here folks. As per my post from last weekend, I came across someone's wheatie collection that made its way into the Brinks boxes. I picked up two more boxes on Monday from the same source and they yielded 64 more wheats of mixed dates, but most likely from the same collection because some of the coins were polished. How often do you find a 1909 VDB penny with a nice copper shine in the wild? Plenty of examples of that in these boxes. Anyway, I did a drive-by yesterday at the same bank company but different branch a few miles down the road. I just looked this morning and saw the stamped lot number was the same as the other branch from last week. Probably the Loomis truck made deliveries along that route dropping off $25 boxes from the same lot to the two different banks. I will hit them up Wednesday for more boxes. I know what Saturday night at the Springer household is going to involve. Hey, when I have no half dollars to sort and get excited about, there is always pennies or nickels or dimes.... |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/08/2008 : 11:18:47
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| Sounds great Jerry! Next week the Brinks driver will be calling into the cops about a suspicious car following him. It will be Jerry.. mapping out the Brinks truck route so he can go to all the banks that armored service drops off at and scoop up all those penny boxes full of wheat cents. |
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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SANITARIUM_INMATE
Penny Pincher Member
211 Posts |
Posted - 11/08/2008 : 12:50:21
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| lol |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/08/2008 : 13:08:31
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| So far, not so much. Just about 10 wheats per $25 sorted. I do have a weird penny though that I have never had experience before with. It is a 1966. It does not make a distinctive ringing noise when dropped like other copper pennies. Sounds more like a zinc penny. Did the penny mint experiment with metals other copper in the 1960's? I will google this one to see what is up. May stop by a coin shop next week if I can not come up with an answer. I think the coin is definitely metal, and not plastic, too. |
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dp2007
Penny Pincher Member
130 Posts |
Posted - 11/09/2008 : 07:30:08
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| Jerry Springer-- I wonder if there has been any reports of robberies of coin collections in your area? If wheats are showing up you might want to grab some of the quarters, dimes & nickels from the same bank. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 11/09/2008 : 07:57:50
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| good point dp2007 |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/09/2008 : 08:38:03
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| These Brinks boxes come from afar I bet. If the wheats were from a robbery, chances are that robbery happened in another state. The banks around here all use Loomis I believe and they get those $25 boxes with the swiss cheese holes and String & Son paper wrap rolls. The mega-bank I picked up the boxes at has many branches in this region, so I lucked out by random drive-by. The second pick-up in lot# boxes did not yield much in any more wheaties, so I skimmed a good bit of them last week in those first three boxes, something like 210 wheaties. But point taken. As the axiom goes, when you find stuff, sort more and when don't find stuff, sort more. |
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deleted
51 Posts |
Posted - 11/12/2008 : 07:51:17
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centavito - Where (roughly) in D.C. are you? I'm in sub. MD & just curious. Only see me and Cerulean on his map at:
You must be logged in to see this link.
I've been off of pennies and on to halves for the last bunch of weeks. I've got 2 boxes of pennies about 3 weeks old from Chevy Chase/CWI that have been waiting & I'll let you know what's in them when I get to them. fyi, I don't use PNC :-) |
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kieblera5
Penny Hoarding Member
USA
859 Posts |
Posted - 11/12/2008 : 13:57:06
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quote:
Originally posted by JD4x4
centavito - Where (roughly) in D.C. are you? I'm in sub. MD & just curious. Only see me and Cerulean on his map at:
You must be logged in to see this link.
I've been off of pennies and on to halves for the last bunch of weeks. I've got 2 boxes of pennies about 3 weeks old from Chevy Chase/CWI that have been waiting & I'll let you know what's in them when I get to them. fyi, I don't use PNC :-)
I'm in DC too. Well, northern Virginia, but there is a metro stop here. |
Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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n/a
deleted
15 Posts |
Posted - 11/12/2008 : 16:22:43
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| I'm in Northwest, DC. My average here is around 22%, and from time to time has been as low as 17% and as high as 29% over the last 3 years. However, in West Virginia, it's typically 28-30% when I visit over there. Anyone care to speculate why that is? |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/13/2008 : 05:19:47
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quote:
Originally posted by centavito
I'm in Northwest, DC. My average here is around 22%, and from time to time has been as low as 17% and as high as 29% over the last 3 years. However, in West Virginia, it's typically 28-30% when I visit over there. Anyone care to speculate why that is?
I lived in Takoma Park MD twice, and visited West Virgina a few times. Such a pretty state - loved Harper's Ferry and white water rafting in West Virgina.
My wild guess is that it has to do with all the newer pennies being introduced in the urban areas, while a more rural area just recirculates the same old coins? In richer areas maybe pennies get lost or thrown in jars more because people don't care - driving demand for new coin into the system. In poorer areas pennies get respent over and over? |
“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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new developments at the bank
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