My dime experiment
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  1. #1
    us
    Apr 2009
    Georgia
    89
    2 times

    My dime experiment

    I have a bank that I am friends with the vault manager at. Nobody uses it as a dump bank in any capacity, and very few people use it as a pickup bank. There is one guy who gets 1 box of nickels a week, that's it, and he pays a small fee. Through regular business, they ship a bag of dimes, nickels, and quarters no more than once a month.

    This bank, like others without counting machines, just takes customer rolls and dumps them into a bag once they have enough to ship. They do not count the coins, just the rolls. This particular bank charges a fee for pickup or dropoff of large quantities of coins, which is why it is not used much.

    In talking to my friend, he is going to let me bag those coins for him. Since they were going to ship them anyways, their regular fees don't apply. Basically, I just get a call when any coin reaches shipping capacity, I buy them, he gives me a bag, and I re-deposit them later that day in the bag. Saves his tellers time, and lets me hunt with an easy dump. I realize, this of course breaks the dump rule, but he actually approached me to do it a few weeks after I had originally asked their policy on ordering boxes.

    I got my first call on Monday, $1000 in dimes. Result of 5 rosies. I actually counted the coins, even though they don't, and luckily every roll was dead on, so nothing was shorted. there were 4 foreign (trinidad, canada x2, belgium) but he instructed me to leave foreign in the bag unless I wanted to keep it.

  2. #2

    Oct 2007
    Hampton Roads, VA.
    bounty hunter sharp shooter 2, minelab sovereign xs 2a pro
    2,771
    91 times
    Banner Finds (1)

    Re: My dime experiment

    Sound like you could stand to score big on that deal.

    Golden Silver

  3. #3
    us
    Apr 2009
    Georgia
    89
    2 times

    Re: My dime experiment

    Yeah, I hope so. I can also see the many ways it could backfire though, with short rolls and wrong denominations, but so far so good...

  4. #4
    us
    Aug 2009
    ACE 250 (MD) Bare hands (CRH)
    2,074
    18 times
    All Types Of Treasure Hunting

    Re: My dime experiment

    That sounds like a nice deal you got going there. Hope you are able to score some big silver finds!
    There is no silver left around here...

  5. #5
    Charter Member
    us
    Feb 2008
    Great Lakes State
    dirtfishing
    12,053
    4550 times
    silver surfing
    Honorable Mentions (1)

    Re: My dime experiment

    My CU sends coin out in bags. I believe that the bags are weighed after shipment out. (The girls at the CU block silver and rare paper outgoing.) The courier allows so much under and over weight.

  6. #6
    us
    Nov 2008
    4,291
    2 times

    Re: My dime experiment

    You got a good thing going !

    Good luck

    Rich
    2011 Finds
    6x War Nickels
    1x Buffalo Nickel
    1x Mercury Dimes
    66x Roosevelt Dimes
    2x Canadian Dimes
    0x Washington Quarters
    15x WLH
    12x Franklin
    46x 1964 Kennedy
    161 x 40% Kennedy

  7. #7
    us
    Mar 2008
    Michigan
    2,484
    4 times

    Re: My dime experiment

    This is a perfect scenario. Good set up.

    Mojo
    CRH Mojo "Thanks For buying American"

 

 

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