My dime experiment

[kurtma12]

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.

[golden silver]

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

Golden Silver

[kurtma12]

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...

[AGCoinHunter]

That sounds like a nice deal you got going there. Hope you are able to score some big silver finds!

[fistfulladirt]

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.

[Rich Hartford]

You got a good thing going !

Good luck

Rich

[coinmojo]

This is a perfect scenario. Good set up.

Mojo