A Tellers Insight

[ScoobaSteve]

A Teller's Insight

So I go to one of my banks to make a dump. The coin machine gets jammed and the teller comes out to fix it. She is also the head tellers a Roll Raider and culls the silver that comes in. I usually strike up some chat to get the scoop on her finds. She is always pleasant and usually let's me know about her bi-weekly stash. This time she told me that, "there is something up". She said that in six years of roll raiding, and raiding the bags that "the well" has never been so dry. I said that maybe they are pulling the silver out at the distributor and she said she doesn't know for sure but that it is definitely being searched before it gets to the banks. I said that maybe it's the fed and she replied, "It's definitely being taken out before it gets here because I haven't seen a dime, half or quarter in weeks and over the past few months, silver has become more scarce when I search.

You decide.

 

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[golden silver]

Re: A Teller's Insight

I am like Jim4silver here. I have not seen any proof. I think there is some other explanation. In my area my normal boxes switched up and I went from pullling 15 silvers per box to nothing. Occassionally those boxe give up a 40% or two though. The explanation is that about a year ago hardly anybody was searching in my area. Gradually people started ordering boxes of halves and dropping them of in the same area including myself. My dump bank was different than my pickup but it did not matter. The dumps were still going back to a local distributor. This distributor was storing up the halves while for a time the area was still recieving half boxes from an outside distributor. Then after the new year the area banks switched to the local distributor that now had enough stored halves to kick them back to the banks when ordered. This resulted in me getting all my dumps back. Occassionally a few 40%ers are ran through the system and end up in boxes but for the most part the boxes are dumps. The banks switched I believe to save money and nothing more. Somewhere the boxes I used to get are still kicking around but just not in my area. Now I found a couple of banks that order from a different source and I am making sure to dump in the same place I always have. This hopefully will continue to result in better finds by thinning out the new supply source and getting to the bottom of their pallets while filling up the old distributor with more dumps. I had a really good box from my new distributor so I think it is working. I don't think they are taking out the silver.

 

[jim4silver]

Re: A Teller's Insight

I am like Jim4silver here. I have not seen any proof. I think there is some other explanation. In my area my normal boxes switched up and I went from pullling 15 silvers per box to nothing. Occassionally those boxe give up a 40% or two though. The explanation is that about a year ago hardly anybody was searching in my area. Gradually people started ordering boxes of halves and dropping them of in the same area including myself. My dump bank was different than my pickup but it did not matter. The dumps were still going back to a local distributor. This distributor was storing up the halves while for a time the area was still recieving half boxes from an outside distributor. Then after the new year the area banks switched to the local distributor that now had enough stored halves to kick them back to the banks when ordered. This resulted in me getting all my dumps back. Occassionally a few 40%ers are ran through the system and end up in boxes but for the most part the boxes are dumps. The banks switched I believe to save money and nothing more. Somewhere the boxes I used to get are still kicking around but just not in my area. Now I found a couple of banks that order from a different source and I am making sure to dump in the same place I always have. This hopefully will continue to result in better finds by thinning out the new supply source and getting to the bottom of their pallets while filling up the old distributor with more dumps. I had a really good box from my new distributor so I think it is working. I don't think they are taking out the silver.

Right GS,

There is no proof. It is always some hearsay from a teller or from somebody's cousin's best friend's wife who knows somebody that works for Brinks who said they are culling silver.

Boxes are still turning up some silver, although not much. If culling was going on every box would be a skunk. People fail to realize the amount of CRHers has grown exponentially in the last year. With people going through 10 boxes per week, etc., it does not take long to vaporize the silver halves floating around out there. There are only so many coin collections being dumped each day, and they are grabbed quickly it seems, either by tellers or hand roll hunters.

It is so sad that one proponent here of the culling theory went so far as to create a fake identity on this site and post some crap about inventing such a machine last month. The moderators felt it was a joke and moved the post to the joke section, but I believe whoever it was that created it really wanted people to believe it. The moderator was kind enough not to "out" this individual, but it is sad somebody would go that far to try and prove a point without real proof. But look at what the Bigfoot proponents did a few years back with the fake bigfoot in the freezer that was all over the web and news for a few weeks but turned out to be fake.

If culling is going on, why is there no info on the coin counter they are using. Surely it is not a top secret, government classified document?

Jim

 

[Rich Hartford]

Re: A Teller's Insight

Coinstar machines found in supermarkets spit out silver coins. So I don't think that there is some type of high tech top secret equiptment being used. Through my banking trips I have noticed plenty of old people turning in coin.
I started just before the bailouts and was doing fine getting silver. Then it stopped.

 

[coinmojo]

Re: A Teller's Insight

As far as teller insight goes

All of us have more insight than a teller.

She only hunts the bank she works at (as far as I know)

I hunt every bank in southeastern Michigan & every state I visit on vacation, and read and post on T Net daily.

So here is my insight.

They can weed out silver........ Do they do it? As far as I can tell........ Absolutely not...........

There are lots of different machines out there in bank lobby's and in Grocery stores and Drug stores.

It is true coinstar definitely does reject silver but does it reject all the silver? I don't know.

The bank that I dump at has a different kind of coin counter that Definitely rejects silver Dimes.

The bank where I bought a 1k bag of Halves from a month ago does not reject silver. That is why there were over 100 silver Halves and $2 dollar Canadian coins in it.

The machins at Brinks and CWI do not reject silver because we all find silver in them there boxes all the time.

So the tech is out there and it is just a matter of weather they are doing it or want too,,,, cull all the silver out.

If they wanted to they certainly could.

Mojo

 

[mistergee]

Re: A Teller's Insight

as far as machines spitting out silver.....i think its the way the machines are calibrated. i have been using the same machines since i started last July....only once did i find silver hung up in the reject slot. i have seen where these machines only kicked out clad dimes, i have seen the same machines kick out all zinc pennies other times, i've seen them count dimes as pennies, i've seen where they kicked out 1/4 of my clad halves.....each time someone complained they recalibrated and the coins the machine rejected would change. yet most times they consistantly kicked out the tokens and foreigns. at least this has been my experience with machines i am very familiar with.
these machines called Penny Arcade talk you through the process and at the end always says "before you visit our teller, check the coin slot at the bottom of the machine for any coins or valuables"....could some machines be rejecting the silver coins because they are more valuable than clad change and they are returning them to you

 

[Rich Hartford]

Re: A Teller's Insight

Wild Theory ?

Rumors ?
1. Concerted effort to devalue the dollar out of existence
2. Replace dollar with Amero
3. Replace world's money with electronic currency

If any of the above rumors are true, having billions (fact) of dollars (possibly Trillions) in gold and silver U.S. coins in existence would not be a good thing and could possibly thwart the above.

In fact the State of Georgia is considering going to the gold standard utilizing U.S. minted gold and silver coin. There may be other States considering this as well. If one State adopts a gold standard the others would have to follow.
If this were to happen what would happen to the Fed?

Wouldn't it be in the best interest of the Fed to cull silver(not Brinks or individual banks) ?

There is no doubt that the silver has diminished from boxes since the bail outs began. Are there more CRH out there? I certainly have not come across an unusual amount of dumps which would be indicative of this.

Just some wild speculation on the culling of silver.

 

[alpha105]

Re: A Teller's Insight

It is true coinstar definitely does reject silver but does it reject all the silver? I don't know.

Coinstar has 2 reject trays also......1 inside the machine....

 

[alabamadan]

Re: A Teller's Insight

Just for the record, my increase in CRH was for my collection not the bail out. A guy at a coin show mentioned it to my 7 year old and I thought "I haven't done that in years...."

 

[jim4silver]

Re: A Teller's Insight

Wild Theory ?

Rumors ?
1. Concerted effort to devalue the dollar out of existence
2. Replace dollar with Amero
3. Replace world's money with electronic currency

If any of the above rumors are true, having billions (fact) of dollars (possibly Trillions) in gold and silver U.S. coins in existence would not be a good thing and could possibly thwart the above.

In fact the State of Georgia is considering going to the gold standard utilizing U.S. minted gold and silver coin. There may be other States considering this as well. If one State adopts a gold standard the others would have to follow.
If this were to happen what would happen to the Fed?

Wouldn't it be in the best interest of the Fed to cull silver(not Brinks or individual banks) ?

There is no doubt that the silver has diminished from boxes since the bail outs began. Are there more CRH out there? I certainly have not come across an unusual amount of dumps which would be indicative of this.

Just some wild speculation on the culling of silver.

Yes, wild speculation indeed.

I would bet you that the total value of all the US silver coins floating around in circulation is nowhere near the numbers you quote. I don't have time to do the research, but if you look online you can find the estimated value of all above ground silver and gold (bars, coins, jewelry, teeth, etc), and the numbers are surprisingly low.

Besides, if your theory is correct, why is the Government selling silver and gold coins such as the American Gold Eagle and Buffalo, and the Silver American Eagle? If they did not want us to have silver and gold, they would not be selling it to us.

Your theory fails in my humble opinion.

Jim

 

[Rich Hartford]

Re: A Teller's Insight

Yes, wild speculation indeed.

I would bet you that the total value of all the US silver coins floating around in circulation is nowhere near the numbers you quote. I don't have time to do the research, but if you look online you can find the estimated value of all above ground silver and gold (bars, coins, jewelry, teeth, etc), and the numbers are surprisingly low.

Besides, if your theory is correct, why is the Government selling silver and gold coins such as the American Gold Eagle and Buffalo, and the Silver American Eagle? If they did not want us to have silver and gold, they would not be selling it to us.

Your theory fails in my humble opinion.

Jim

Well it is tough to tell how much silver coin is still in circulation. I've seen the numbers of halves minted from 1916-1970 and the number is astonomical. Of course many of those coins may have been melted down when silver hit 50 plus. Who knows.
The Mint coins gold and silver not the Fed. The theory was that the Fed was culling the Silver not the U.S.Government.
Just for trivias sake here are the number of Eagles minted from 1986-2008
Silver-176,768,482 Gold 1 Oz.11,986,538 Fractional gold 16,288,011
My theory looked more interesting this morning than it does now,but it's fun to speculate