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Dan52
Penny Collector Member
USA
422 Posts |
 Posted - 05/14/2009 : 15:16:42
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I was making my rounds today buying dimes when one of the tellers asked me if I was still interested in halves. They had $2000.00 that someone had deposited. Here's the procedure I go through when I am told of an unusually large amount of halves that have been recently deposited. First, I try to find the teller that took the deposit. Then I tell them I would like to ask them some questions about the deposit, not about the depositer. I try to find out if the deposit is dumpage. It turns out that this person told the teller that they bought the halves from the fed and went through them. So I declined to purchase the $2000 in halves. I went on to the next branch for more dimes and low and behold this person had made another deposit there for $2000.00 and also at a third branch. In my opinion it sometimes is best to walk away.
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fb101
Administrator
USA
2856 Posts |
Posted - 05/14/2009 : 19:04:20
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| I was offered a box one time they said someone had gotten and then redeposited. I had to check it out because they were all still in the bank rolls. - What I found was each roll had been sliced on one side for inspection and then taped shut again. I passed on the box. |
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 05/14/2009 : 19:09:06
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| The only thing more frustrating than getting somebody else's dumps is getting back your own by mistake!! |
www.WinnipegGoldBuyer.com
Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
$1,001+ worth - spot +10%, plus actual shipping |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/14/2009 : 19:33:07
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sometimes its a good idea to at least take a sample of the lot. you'll go through coins that someone went through and find a bunch of 40%. They claim to have pulled out all the silver knowing that pre '65s were silver, but left the 40%.
But yeah, the $2000 deposits at major branches sounds like a big time prospector. Sounds sorta like me actually. |
Edited by - buyingsilvers on 05/14/2009 19:36:13 |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 05/14/2009 : 20:58:47
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I don't mess with stuff like that. I just order boxes. I also check the tellers trays. I have asked at my source banks if they have any halves. They sometimes say yes, but they have been searched. I figure that I will eventually see those halves anyways due to the high volume of boxes I go through.
I dump all mine in machines. I went to a new dump bank about 40 miles from my house once. After 176.00 the bag was full. So either someone else is dumping there too or I missed out on a bag I should have asked to buy back. |
You don't have to be the BEST you just have to be.......SLICK
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Edited by - slickeast on 05/14/2009 21:00:59 |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/14/2009 : 21:03:22
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I dump in bags when I get coins in bags. But I'd rather dump in rolls because i can mark those, and I know that the junk stuff is concentrated in those rolls and (hopefully) stay in the dump bank's vault. If you dump loose, you dont know if the halves are being recycled and coming back to you.
A lot of the smaller banks/cred unions dont seem to have their own coin processing/central vault. From what I understand, the coins get shipped out to a larger bank or brinks or whoever to get processed. |
Edited by - buyingsilvers on 05/14/2009 21:04:11 |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 05/14/2009 : 22:37:34
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| Good call, they were the remains of someone's sorting. |
There's profit if you melt things!!
8{> |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 05/14/2009 : 22:46:39
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Some mark the individual coins to see it they sort them again.
There's lots of 4 black stripe Halves I see in my neck of the woods. |
There's profit if you melt things!!
8{> |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 05/15/2009 : 10:41:33
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| got $900 once that supposedly had been searched. No 90%'s but several 40%'s and NIFC. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 05/15/2009 : 10:46:12
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quote:
Originally posted by buyingsilvers
I dump in bags when I get coins in bags. But I'd rather dump in rolls because i can mark those, and I know that the junk stuff is concentrated in those rolls and (hopefully) stay in the dump bank's vault. If you dump loose, you dont know if the halves are being recycled and coming back to you.
A lot of the smaller banks/cred unions dont seem to have their own coin processing/central vault. From what I understand, the coins get shipped out to a larger bank or brinks or whoever to get processed.
ALL the halves I get are FED boxes. I know that they wind up back in the boxes I search. Also the banks send back halves when they get $1000.00 in their vault. And the way I go through boxes the dump banks would be sending them back in every week anyways. |
You don't have to be the BEST you just have to be.......SLICK
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Cerulean
Penny Hoarding Member
USA
993 Posts |
Posted - 05/15/2009 : 14:17:47
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I recently went through four boxes ($2,000) of halves. All of the rolls were hand-rolled with crimped ends... all the hallmark signs of halfhunter's dumpage.
I went through it anyway, why not. Found ten 2002-2005 halves and a 2006-S proof. |
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Are you a Buffalo Hunter?
Wanna take seignorage away from the Fed? Spend *any* coins!
We cannot afford this government.
Cerulean's Standing Offer: $3/lb shipped for foreign coins |
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/15/2009 : 14:34:01
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quote:
Originally posted by slickeast
quote:
Originally posted by buyingsilvers
I dump in bags when I get coins in bags. But I'd rather dump in rolls because i can mark those, and I know that the junk stuff is concentrated in those rolls and (hopefully) stay in the dump bank's vault. If you dump loose, you dont know if the halves are being recycled and coming back to you.
A lot of the smaller banks/cred unions dont seem to have their own coin processing/central vault. From what I understand, the coins get shipped out to a larger bank or brinks or whoever to get processed.
ALL the halves I get are FED boxes. I know that they wind up back in the boxes I search. Also the banks send back halves when they get $1000.00 in their vault. And the way I go through boxes the dump banks would be sending them back in every week anyways.
Kinda sucks if that's the case.
Regionals dominate my area and have their own central vaults and accumulate halves in them. So I dont see my own garbage again once I offload to them.
Maybe a good strategy would to buy/sell halves in waves. Buy 10k worth, then dump them all at around the same time. Then quickly order 10k more before your dump bank sends them back. |
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Left thousands in halves on the table.
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