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  1. #1
    us
    Nov 2009
    Madison MS
    Garrett Ace 350
    305
    32 times

    SO I went to Loomis

    Not a bank but the actual location where they keep the trucks and roll the coins. The shop manager said they can't sell money there because it all belongs to the banks. Said 2 years ago they had around 100lbs of silver quarters in the machines and all they could do was watch it be sorted and rolled......Said the worst time for them is when new quarters come out because all the banks call and want them and loomis is only allocated so many. Anyways, was neat to find out. I was there on real business and decided to ask.....can't hurt...

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  3. #2
    us
    Mar 2009
    MI
    ace 250
    1,881
    11 times
    All Types Of Treasure Hunting

    Re: SO I went to Loomis

    figures they can't sell to you straight from them, gotta be ordered from banks
    2012 finds

    40%- 88

    A lot of garage sale gold and silver!

  4. #3

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

    Re: SO I went to Loomis

    Just an amaizing thought 100 lbs of silver quarters at today's spot price of 18.53/troy oz. of silver equals roughly

    8,064 silver quarters (roughly $2,016 face value)
    1,458.3 troy ounces
    for a gross value of $27,023.23

    Now what a haul that would have been to pull in. What a heart break to watch it roll by.

    Golden Silver

  5. #4

    Apr 2008
    3,040
    135 times

    Re: SO I went to Loomis

    This is what I have said all along when people start coming up with unsubstantiated stories about the coin couriers culling silver. They are merely liasons between the fed reserve and the banks (the fed reserve is the bank to the banks so to speak).

    Glad for your post.

    Jim
    R.I.P. Rich Hartford

  6. #5
    us
    Nov 2008
    4,291
    2 times

    Re: SO I went to Loomis

    Quote Originally Posted by jim4silver
    This is what I have said all along when people start coming up with unsubstantiated stories about the coin couriers culling silver. They are merely liasons between the fed reserve and the banks (the fed reserve is the bank to the banks so to speak).

    Glad for your post.

    Jim
    I'm so sure that culling silver takes place before reaching the bank, that not only would I bet all my PM's on this fact,but I would bet my life.
    I can't say if it happens in the depot,in the truck, or maybe(although I doubt it) in the bank after delivery. I can prove that it happens,absolutely and positively. I just need to get a hold of a camera.
    It's late so I don't have the time now to tell you what to look for but I will in a future post.
    HH
    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. #6

    May 2006
    CO, AZ
    dfx, Ryedale!
    1,642
    133 times

    Re: SO I went to Loomis

    Quote Originally Posted by Rich Hartford
    Quote Originally Posted by jim4silver
    This is what I have said all along when people start coming up with unsubstantiated stories about the coin couriers culling silver. They are merely liasons between the fed reserve and the banks (the fed reserve is the bank to the banks so to speak).

    Glad for your post.

    Jim
    I'm so sure that culling silver takes place before reaching the bank, that not only would I bet all my PM's on this fact,but I would bet my life.
    I can't say if it happens in the depot,in the truck, or maybe(although I doubt it) in the bank after delivery. I can prove that it happens,absolutely and positively. I just need to get a hold of a camera.
    It's late so I don't have the time now to tell you what to look for but I will in a future post.
    HH
    Rich
    Strong words. And I'd like to know your proof. really. I agree with you, but have no proof. So to see yours would be a great thing for me. :-) Please let us know when you can expound upon this. :-D

  8. #7
    us
    Aug 2009
    ACE 250 (MD) Bare hands (CRH)
    2,074
    10 times
    All Types Of Treasure Hunting

    Re: SO I went to Loomis

    I for one know I have had boxes that have been opened and rolls that have been picked open and attempted to roll back. This box below was missing $5 worth of halves. Do I know if they were silver? No, but it was obvious that someone cherry picked this box. It took place at the sorting facility, in the truck, at the bank, or by the teller that gave them to me, I dont know. Have a look for yourself.
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    There is no silver left around here...

  9. #8

    Apr 2008
    3,040
    135 times

    Re: SO I went to Loomis

    Quote Originally Posted by Rich Hartford
    Quote Originally Posted by jim4silver
    This is what I have said all along when people start coming up with unsubstantiated stories about the coin couriers culling silver. They are merely liasons between the fed reserve and the banks (the fed reserve is the bank to the banks so to speak).

    Glad for your post.

    Jim
    I'm so sure that culling silver takes place before reaching the bank, that not only would I bet all my PM's on this fact,but I would bet my life.
    I can't say if it happens in the depot,in the truck, or maybe(although I doubt it) in the bank after delivery. I can prove that it happens,absolutely and positively. I just need to get a hold of a camera.
    It's late so I don't have the time now to tell you what to look for but I will in a future post.
    HH
    Rich
    By silver culling that is NOT taking place, I am referring to the coins being sent through a counting machine that kicks out the silver intentionally, with said system being put in place by the coin courier company for that specific purpose.

    Whether or not any particular coin courier service has employee who sift through boxes without official permission of their employer, I don't know. That type of thing would not surprise me a bit.

    Jim
    R.I.P. Rich Hartford

  10. #9
    us
    Sep 2004
    TX
    Whites Vision/V3 Spectra, AT Pro
    1,765
    3 times

    Re: SO I went to Loomis

    Quote Originally Posted by AGCoinHunter
    I for one know I have had boxes that have been opened and rolls that have been picked open and attempted to roll back. This box below was missing $5 worth of halves. Do I know if they were silver? No, but it was obvious that someone cherry picked this box. It took place at the sorting facility, in the truck, at the bank, or by the teller that gave them to me, I dont know. Have a look for yourself.
    This could also have been done by a roll hunter. There is a person in my area that will buy the boxes, search and reroll like this, then bring the halves back in the boxes.

  11. #10
    us
    Aug 2009
    ACE 250 (MD) Bare hands (CRH)
    2,074
    10 times
    All Types Of Treasure Hunting

    Re: SO I went to Loomis

    Quote Originally Posted by wayne1956
    Quote Originally Posted by AGCoinHunter
    I for one know I have had boxes that have been opened and rolls that have been picked open and attempted to roll back. This box below was missing $5 worth of halves. Do I know if they were silver? No, but it was obvious that someone cherry picked this box. It took place at the sorting facility, in the truck, at the bank, or by the teller that gave them to me, I dont know. Have a look for yourself.
    This could also have been done by a roll hunter. There is a person in my area that will buy the boxes, search and reroll like this, then bring the halves back in the boxes.
    I thought the same thing but there were only a few rolls that were missing halves in the entire box. It would seem that if a AG searcher had returned these, all of them would have been picked open. I have never been shorted this much before though. After this, I am done with boxes, asked for bags again. Atleast the bags cant be picked that easy.
    There is no silver left around here...

  12. #11
    us
    Apr 2009
    TN.
    1,771

    Re: SO I went to Loomis

    Have had mine short as much as $2 in a single roll B4, and the roll was perfectly machined, have also had rolls that were machined poorly which is what those in your pic look like; machines are not perfect. Had one box in the last batch got last year, it was full of rolls that the machine screwed (they looked like ones in your pics) up many were broken with lots of loose coins in it- oh it was my best Box of the year too (248 Silvers, 28 were %90's).

  13. #12
    us
    Jun 2009
    1,512
    6 times

    Re: SO I went to Loomis

    I think this is same as employees steal from companies more then shoppers. it definitely happens, to prove it would be something else or to get someone to say it that won't happen. just like an employee stealing they wouldn't say it, they would hide it or say they bought it elsewhere.

    but sounds like you had a fun experience

  14. #13
    mts
    mts is offline
    us
    May 2009
    Tesoro Vaquero, Tesoro Silver ÁMax, BH Tracker IV, Garrett ProPointer
    1,179
    4 times

    Re: SO I went to Loomis

    Quote Originally Posted by kd5txx
    Not a bank but the actual location where they keep the trucks and roll the coins. The shop manager said they can't sell money there because it all belongs to the banks. Said 2 years ago they had around 100lbs of silver quarters in the machines and all they could do was watch it be sorted and rolled......Said the worst time for them is when new quarters come out because all the banks call and want them and loomis is only allocated so many. Anyways, was neat to find out. I was there on real business and decided to ask.....can't hurt...
    How would they know that they have 100lbs of silver quarters unless their machines are actually separating out the silver?

  15. #14
    us
    Mar 2010
    Central Illinois
    T-2 Garrett Pro Pointer
    615

    Re: SO I went to Loomis

    A bag of quarters weighs roughly 25 pounds. 4 bags would be 100 pounds. See Golden Silver's post above.

    You can't tell me that if I owned a courier service, that I can't replace coins that come in with other coins, and take the ones I want home.
    2011 YTD
    1st  half     2nd
     64 Rosies     72
       3 Mercs       3
       1 Barber
       7 Wash.       7
       1 Walker
       3 Bens
       5 64 Ken      1
      15 40%ers     3
       7 Buffalos
    207 Wheats     15
       3 Steels         6
       1 Indian
     10 War Nickel
       2 foreign sil.   1

  16. #15
    us
    Mar 2010
    Colorado Springs CO.
    Bounty Hunter QS
    4,377
    1 times

    Re: SO I went to Loomis

    dang, thats a lot of silver! good to know that they technically cant cherrypick, maybe i should try some quarters tho
    CHAINCHOMP

  17. #16
    mts
    mts is offline
    us
    May 2009
    Tesoro Vaquero, Tesoro Silver ÁMax, BH Tracker IV, Garrett ProPointer
    1,179
    4 times

    Re: SO I went to Loomis

    Quote Originally Posted by dave5710
    A bag of quarters weighs roughly 25 pounds. 4 bags would be 100 pounds. See Golden Silver's post above.

    You can't tell me that if I owned a courier service, that I can't replace coins that come in with other coins, and take the ones I want home.
    Ok... let's put it another way. How would they know they have 4 bags of silver if they weren't separating out the silver?

    In order for someone to know how much silver they have it must be separated out or counted in some way...

  18. #17

    Dec 2006
    1,811
    2 times

    Re: SO I went to Loomis

    Quote Originally Posted by AGCoinHunter
    I for one know I have had boxes that have been opened and rolls that have been picked open and attempted to roll back. This box below was missing $5 worth of halves. Do I know if they were silver? No, but it was obvious that someone cherry picked this box. It took place at the sorting facility, in the truck, at the bank, or by the teller that gave them to me, I don't know. Have a look for yourself.
    I have been seeing these boxes too much lately myself. And guess what, there are never any keepers in those rolls. In fact, starting today I will open the boxes while still in the bank and look for "tampered" rolls. If I see them, I will point it out to the bank and suggest that they investigate; for someone is obviously compromising the integrity of a supposed hands-free operation........not to mention the dollar amount being off as a result.

    I shouldn't be cutting off my nose to spite my face; as no human hands should be involved in this automated sorting, rolling and packing of coins at these facilities. Maybe a few of these "investigations" will cause some heads to roll and put the "fear of god" in the culprits.

    Stay tuned.
    "You can't win if you don't play"

    "Behind every dark cloud is a silver lining"

    "If you're prone to motion sickness, this "roller coaster" hobby may not be for you "

  19. #18
    us
    Sep 2004
    TX
    Whites Vision/V3 Spectra, AT Pro
    1,765
    3 times

    Re: SO I went to Loomis

    I will not take a box any more unless the tape is still intact. Since I bring them goodies time to time (homemade sugar coated pecans, they are "nuts" about them ), they do not give me any grief about it.

  20. #19
    us
    Oct 2009
    1,023
    10 times

    Re: SO I went to Loomis

    Hmm didnt think there were that many silver quarters at any one location. Maybe i will try quarters again.

 

 

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