Hello everyone

[call_me_dick]

Hello everyone my name is dick. I started buying pennies bout half a year ago, then started on halves almost a month ago, then i decided to search and see if anyone else out there did this and i found this site. I have been reading your guys postings for a couple of weeks now, and am really glad to see that other people do the same thing. So far i have found 63 40%ers and 13 90%ers, i have also gone through about 600 dollars of dimes and found 3 silver rosies. I havent started buying boxes yet, but plan on starting soon, right now i have just been driving all around, going bank hopping as i like to call it.
I do have a couple of quick questions though.
1.) Will banks let you order a couple of boxes of halves the same day that you become a member? If so, does it matter if you only have the minimum amount of money in your account to open it?
2.) How often do banks usually get orders in, is it once a week or once a couple of weeks?
3.) Another question that i have is, do you have to have a business account at banks to use bags, or can you do it just being a member? When you use bags can you get your money when you bring them in or do you have to wait for them to count it and deposit the money in your account?

Sorry about all the questions, but the only way to learn is to ask i guess. I would also like to tell everyone that i am a metal detecting junkie also, that was another thing that i thought was real cool when i found this site. Not only were there people searching coin rolls, but alot of them metal detected to.

 

Amazon Forum Fav 👍

Upgraded Night Vision Monocular Digital Infrared Monocular Telescope for 100% Darkness with 8X Zoom - Grab it through Amazon!

[ArkieBassMan]

Howdy Dick. I just started doing this too. There are plenty of folks on here that have far more experience than I, but I will happily relate my experience in this hobby so far. Hope it helps.

1. I haven't had a problem ordering halves. I order from 2 different banks. Bank #1 happily ordered 2 boxes of halves ($1000) for me, and I opened my account there with the $100 minimum. My other bank orders 2 boxes a week for me and I don't even have an account there...although I have known the branch manager for 25 years.
2. I only order from 2 banks. One is weekly and the other (very small branch) is every other week.
3. Can't help you here. I dump at banks that have coin counters. I would assume that your coins would have to be counted before your deposit clears, but I don't know for sure. Someone on here will know though.

63 40%ers and 13 90%ers in a month is really good. So far, my first 6 boxes have produced only 1 40%er. Hope this helps, and best of luck!

 

[Rich Hartford]

Hello everyone my name is dick. I started buying pennies bout half a year ago, then started on halves almost a month ago, then i decided to search and see if anyone else out there did this and i found this site. I have been reading your guys postings for a couple of weeks now, and am really glad to see that other people do the same thing. So far i have found 63 40%ers and 13 90%ers, i have also gone through about 600 dollars of dimes and found 3 silver rosies. I havent started buying boxes yet, but plan on starting soon, right now i have just been driving all around, going bank hopping as i like to call it.
I do have a couple of quick questions though.
1.) Will banks let you order a couple of boxes of halves the same day that you become a member? If so, does it matter if you only have the minimum amount of money in your account to open it?
2.) How often do banks usually get orders in, is it once a week or once a couple of weeks?
3.) Another question that i have is, do you have to have a business account at banks to use bags, or can you do it just being a member? When you use bags can you get your money when you bring them in or do you have to wait for them to count it and deposit the money in your account?

Sorry about all the questions, but the only way to learn is to ask i guess. I would also like to tell everyone that i am a metal detecting junkie also, that was another thing that i thought was real cool when i found this site. Not only were there people searching coin rolls, but alot of them metal detected to.

Dick,
I've never turned bags in but I would assume that you would have to wait until it is counted and put in your account. I prefer to join a credit union that has free coin counters. Only need five bucks to open an account. That way you get your cash right away.
You can order boxes on the day you open an account. Most of the banks I deal with order coins once a week and one orders twice a week. you can order from multiple branches of the same bank.
Never dump at a bank or branch of a bank that you get your coins from. Spread out your dumps as well.
Good hunting
Rich

 

[golden silver]

Hey Dick!, Welcome to the Hobbie. Most of us are recovering Metal Detectorists I think. I still take the machine out every once in a while but until I am completely used up on finding silver in this hobbie I probably won't give it too much attention. Good luck.

Golden Silver

 

[Diver_Down]

The frequency of a bank's ordering is dependent on the volume of business that they do. Most banks do not have some voluminous vault that Hollywood has ingrained into our collective memory. They do not have the capacity to store cash/coin for an entire week's worth of business. My supply bank gets a delivery every day. I would suggest that you find a bank that has a high frequency of ordering, and stagger your orders so that they don't come in every week on the same day. You don't want a predictable pattern of your behavior. There are unscrupulous people out there that will take advantage of any opportunities that present themselves. If someone knows that at 11 am that you pick up 8k and return home every Thursday, you might end up with some unwelcome guests on Thursday afternoon. Break up the pattern.

Bags typically need to be counted and deposited in your account. Turn around varies so be sure to ask. In my case, I get cash for my bags with no visible transactions on my accounts. It is not a wise choice to have large deposits and withdrawals on an account's statement. It tends to arouse suspicion. I pay cash for my boxes and get cash for my bags. However, I have earned this privilege by doing business with this bank for quite sometime. It also doesn't hurt that I carry balances in my accounts that reassures the bank of any potential shortages.

 

[timbobwey]

Welcome, and good luck in the modern day treasure hunt!

 

[coinmojo]

Before I answer any of your questions. I see your in Mi. How close to Detroit are you? I'm north of Detroit and can answer all of your questions for you...

Motor City Mojo

 

[call_me_dick]

Thank you all for your answers and also i am over by kalamazoo

 

[coinmojo]

1 2 & 3 can be answered by saying it depends on your bank. With you being in Kazoo, you are probably drawing off the Grand Rapids supply chain which has a Loomis and Brinks operating out of there. You are close enough to Lansing though so you may possibly be getting boxes out of Lansing as well.

1) You can order boxes the day you open your account but I would think that if the bank knew you were opening an account just to buy boxes of coin they might not want your business. I would recommend a return visit and than when you finally get that 1st box, ask if you can get another for the next week. and then finally ask to make it a standing order. Which answers Question #2) in my area most banks get coin orders once a week. 3) is lots of banks want you to have a business account to order coin but they say that to someone who walks in off the street and ask for a box of coin. They are much more accommodating if you order a box because they just add it on to their weekly order and should not leave them short or cost them any additional fees.

Mojo

 

[call_me_dick]

I would just like to tell everyone thanks for all of you answers they will help alot. On monday i am going to talk to a bank and try to get my first box.

 

[fistfulladirt]

Good luck Dick, I don't know if this is normal, but I have one place that lets me bring in my bagged dumps, and they hand the cash back to me over the counter. I haven't tried this anywhere else. ffd