Dumping Techniques...I need advice please.

GlassyEyed

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I am reading all of these tales of dumping and it sounds to me like you all are going into banks that have coin machines for customer use??? Is that the case?

I have yet to see a machine I can personally use. I just started this hobby and have dumped twice so far at the same bank. Two different tellers and no problem so far. I took both groups in a shoe box; one was rolled and the other was loose coins with all my other cents mixed in to make it look like I was just turning in my change.

So tell me...what is the best way? And what banks do you know of that have coin machines for customer use? Thanks.
 

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Rich Hartford

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Nov 27, 2008
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Check out bank web sites. Sometimes they list if they have free coincounters. Check credit unions as well. If you go on road trips take note of which banks have the counters and get an account with them.
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joad

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I been at this since April and have dumped at least 500,000 coins, all into coin counters. I probably wouldn't be doing this if I had to reroll. Some banks have free machines and some charge for non account holders. Find a free one or open an account at the ones that charges.
 

fistfulladirt

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I am really leery of counting machines. I dump more dimes than anything, and the machine will more often than not count dimes as cents. It's a very fast counter and I have seen it go haywire, spilling dimes into the cent bags. I sometimes have to bring my receipt to the attention of the tellers. It's a real PITA!
I do have a sweet deal with my credit union, in which they supply the bags, and I just bring them in $500 amounts, I just dump my box remains into the bag. The only problem i have is that the vault is tiny, and can only hold about 6 $500 sacks of dimes, which are moved out once a week.
I know others here have similar dumping setups. ffd
 

supn9

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Oct 21, 2009
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Coin machines usually stick by Bank Brands. Usually the best way to tell is by chain. If not then some local banks will have coin machines.

But be cautious, they can and do come short sometimes. The errors are in sizes, denomination and count in general. Machines easily mistaken dimes for pennies if dirty. And halfs can fill machines up relatively quickly.

Dumping in rolls to banks is also doable. Will take some time.

Bags are also a good way. But you need to ask for them, or sometimes even buy them. Your bank should give you a few 1k bags and you can put coins in there.

Out all three id say bags are the way to go. No need to salvage paper rolls and reroll and no worry of coming up short.
 

obediah

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Onething I'd NEVER do is dump in same Bank use to pick them up, it may go well for while as it seems to you but it is a recipe for trouble, think about it, your making them all work for you double, they will eventually get tired of your gaming them.

I use plastic bags put $1K of clad into each and take it to another Bank usually outa town in another Fed district which is about 54 miles from my home making a road trip out of the trip; so far am averaging 2 outa 3 trips pay for themselves in Silver along way.
 

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GlassyEyed

GlassyEyed

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Thanks for the advice...here is what I've done so far.

I have been getting halves in the town I work in, which is 39 miles from my home town. I go through them and then dump them at my hometown bank. They have a coin machine, but the teller has to do the dumping, so I actually feel guilty about doing this...just a little. I've also re-rolled them in the same rolls and turned them in that way. Either way the tellers don't seem to mind so far, but its only been about $300-$400 worth of halves at time.

I think I will take ya'lls advice and find a bank with a machine I can use. At least then i won't feel guilty for the teller as she has to carry that heavy box to the coin machine in the vault.

Last question though...What kind of account do you have with the dump bank? Is it a bare minimum...just to keep it open?
 

obediah

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Bare minimum; myself Banks have NEVER made money off me, have no use for them but to get Half Boxes from'em, and to cash occasional checks might get without a fee; though have heard on Yahoo Biz that Banks will be dumping a large number of unprofitable acounts. Wouldn't that be a bummer having to borrow money from the Bank for them to consider you for the right to keep an open account with them.
That would make things problematic for me , no job, no income other than CRH'ing sales- how do you think that would look on a Bank loan application- could apply to borrow say 5K so could search more coins and use sles of finds to pay interest on loan; wonder if it would be tax deductible or if the Bank would go for that?
 

AGCoinHunter

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I usually round off my dumps and let the money sit in savings until I need it. It makes a bit of interest. I guess I feel like if I am dumping thousands of dollars of coins on them, I might as well let them have a bit of my money to play with and try to earn some extra cash. I know banks are hated by many on here but necessary for a capitalistic (loosely said) society to operate.
 

Fredness

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Jul 16, 2009
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Same as some others - the cash sits in "free checking" earning interest Saturday-Wednesday. Wednesday is delivery day, and the coins get sorted and bagged for dumping on Saturday morning.
PU from is from a bank that gets coin from Brinks and drop off at a different bank with Loomis (Loomis is notoriously devoid of silver in this area). Dumps are in $500 or $1000 plastic bags provided by the bank. It's taken months to get to this stage - before that is was $100 to $250 dumps in rolls.
 

obediah

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AGCoinHunter said:
I usually round off my dumps and let the money sit in savings until I need it. It makes a bit of interest. I guess I feel like if I am dumping thousands of dollars of coins on them, I might as well let them have a bit of my money to play with and try to earn some extra cash. I know banks are hated by many on here but necessary for a capitalistic (loosely said) society to operate.
Only we are not really a Capitalistic land, but rather a Corporatocracy that our Gov uses against US all the while calling it unfettered Capitalism and promising to bring the shackles which will be on US NOT the Corporations just like Patriot Act was supposed to focus on "terrorists [ism]" instead we are feeling the effects with SAR's and all kinds of omens of things to come.
 

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