Lost Main Order Bank - What Would You Do?

[Quick$ilver]

So my main order bank told me today that the volume of coins they are ordering is making the banks performance reports look bad. They have reduced my orders from 2 $10,000 orders per week to 1 $5,000 order.

I don't have enough time to run to more than 2 banks on my lunch and I can't pick up that volume at any of my other regular banks.

So my question is: If you could order 40 boxes per week at a cost of $235 per month, would you do it? That's 160 boxes for $235 = $1.47 per box fee. (thanks Arkie for correcting my mistake)

I think I'm going to pull the trigger on this deal in January. My goal for next year is 200 boxes per month and I know I can pick up the extra 40 boxes from my existing banks.

HH. Thanks for reading and any comments.

 

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[namster]

Whats your pull average in dollars?

 

[$nack-Money]

yes, but have your dumping strategy in place

 

[Bigheed]

I think you already answered your own question by writing this post

$20,000 a week from a single source is ridiculous! You need to spread that between 4-5 branches of that bank throughout the town.

Get other bank chains to source from. You are pulling way to hard on that rope and it broke.

 

[db23]

I disagree with BigHeed. I say go for it. if they'll let you pay to keep ordering then by all means do it.

 

[usandthem]

^ But only if you're finding enough silver to come out ahead.

 

[ArkieBassMan]

Actually, that is a $1.47 per box fee. ($235/160). Technically, its even higher. You said they'll let you continue to order 10 boxes weekly (40 monthly) for free. So in reality, you'll be paying $235 for 120 "extra" boxes. Thats $1.96 per "extra" box.

If my past results had shown that the boxes would likely remain satisfactorily profitable after the fee, then I wouldn't hesitate to do it - if thats what it took to do the volume I wanted. If I could "shop around" and get them all for free, thats the route I'd take personally. $235 will still buy quite a bit of gasoline.

Bottom line is do what is best for you. Good luck!

 

[Brush64]

So...your bank(s) charge you a per box fee no matter what?

Maybe this has been covered in another thread, but currently I don't pay any fees for the number of boxes I pick up each week...and I'm doing almost the same volume as you. Have they always charged you...or is this a relatively recent development based on your high volume?

Just curious how many others have to pay a fee (because that would totally determine what I do or how many boxes I order).

To answer your question, I'd say do it AS LONG as you are covering your costs or coming out ahead based on the value of Ag (or other keepers) that you find.

 

[Quick$ilver]

I have been using 9 different banks and have never paid fees. I don't have banks willing to let me park larger orders until Saturday so I must go for pick-ups on my lunch break. This limits how many banks I can hit on each day during the week. Add that to my dumping arrangements and things get even more restrictive.

I am not the only CRH using that particular bank. There are 2 of us and we did about 320 boxes from 1 bank last month. The order came down from a regional bank exec to reduce orders to increase productivity of bank funds. I know the amount we were ordering is rediculous but the vault teller had no problems ordering and didn't care about the quantity. If not for corporate, the boxes would have kept coming.

I'm averaging about 1.6 per box so I should come out well ahead. I guess I'll know at the end of my first month.

 

[ronbo22]

A half a loaf is still nourishment to a starving man.

 

[Piledriver]

The most I get from any one bank is $3000.

Every CRH'er will have to face reductions of our territory and privileges in the future.
Banks are being squeezed. CRH'ers are multiplying.
The price of silver is going to go to da moon.

I say, put the petal to the metal while you can.

Keep on Rollin' !