Stacking and dumping large amounts instead of each week?

[mts]

I've been wondering if anyone out here currently saves up their dumps until they get a large amount and then dumps them all at once instead of weekly?

The idea would be to use a bankroll of say $100K and just keep buying boxes to search. When you are done searching, you put the rejects on the pile and go buy more. This is in stark contrast to the standard weekly/daily dumping that most people do. If you had the bankroll, could you just stack box upon box of rejects and then dump them all at once? Is there a company like brinks that would do this for you without too much of a fee? Personally, I'd rather have more money tied up at any given moment if it meant being able to dump all at once to save time.

Also, if you have $100K worth of halves sitting in your house, it seems to me that you are forcing the banks/brinks/etc. to dig deeper into their stash to fulfill your orders. Perhaps you could flush out some more silver in the process. But I'm sure $100K is a drop in the bucket.

The guys who are really bringing home a lot of silver are doing it on large volume. For most of us, the headache of having to continually dump seems to be the biggest obstacle to doing large volumes.

Thoughts? I know... if it were possible people would already be doing it. But a guy can dream can't he?

 

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[namster]

I have often wondered how much each site actually has. I am almost certain I have gone through my own dumps and I have only been doing this for a month or so. There are at least two other CRHers in my area, probably many more than that.

 

[mts]

I'm absolutely positive that this idea would not work. Especially around here. Around here I seem to average about 1 silver for every two boxes. The fee to dump my boxes would have to be less than about $2 each just to break even. No one is going to come pick up my heavy dumps for that. And driving somewhere to dump thousands of pounds of coins isn't going to be cheap (even if it were possible).

Just something I was thinking about. I'm always trying to find an angle. Like I said earlier, if it were feasible, people would be doing it.

 

[Mzjavert]

If I had a 100k that I could just have lying around to dump or have picked up...I'd get a little sign that read "Gold Bought Here".

 

[mts]

If I had a 100k that I could just have lying around to dump or have picked up...I'd get a little sign that read "Gold Bought Here".

Well, I've thought about that too. But frankly, being a gold/silver buyer seems awfully dangerous to me. And at least with CRH'ing, you are guaranteed not to lose your shirt if the price of gold or silver plummets. Not to mention, being a bullion dealer has its own set of regulations and requirements.

I know that there are a lot of CRH'ers who dump daily/weekly out of necessity. But there are certainly some of you that could bankroll $20K or more at a time if it were beneficial to do so. I was just curious if anyone currently had a better solution to the constant dumping problem. If throwing more money at the problem works then I'd consider doing so. Especially if the risk is minimal.

 

[Diver_Down]

I've been doing just what you described for about 2 years now. Not quite on the scale of 100k, but my monthly dump is about 48k. I just hate the tedium of dumping. Knowing the service districts (note: not Fed district, but rather separate Brinks service districts), I load the dumps and drive them out of my territory once a month. Load the dolly and dump 8k at each stop.

 

[silvernd]

I've been doing just what you described for about 2 years now. Not quite on the scale of 100k, but my monthly dump is about 48k. I just hate the tedium of dumping. Knowing the service districts (note: not Fed district, but rather separate Brinks service districts), I load the dumps and drive them out of my territory once a month. Load the dolly and dump 8k at each stop.

Do you use bags or rolls for that volume? Is there a Brinks service district map that is publicly available, or is that one of the tricks of the trade

 

[mts]

I've been doing just what you described for about 2 years now. Not quite on the scale of 100k, but my monthly dump is about 48k. I just hate the tedium of dumping. Knowing the service districts (note: not Fed district, but rather separate Brinks service districts), I load the dumps and drive them out of my territory once a month. Load the dolly and dump 8k at each stop.

That's very interesting. Do you dump at banks or do you dump at some sort of coin service like brinks/loomis/other? Do you feel that this is providing any sort of advantage other than the psychological benefit of keeping you from having to dump so often?

Thanks for the input!

 

[Bigheed]

What kind of vehicle do you have thats almost 2700 pounds of halves with 48k!

 

[Diver_Down]

I've been doing just what you described for about 2 years now. Not quite on the scale of 100k, but my monthly dump is about 48k. I just hate the tedium of dumping. Knowing the service districts (note: not Fed district, but rather separate Brinks service districts), I load the dumps and drive them out of my territory once a month. Load the dolly and dump 8k at each stop.

Do you use bags or rolls for that volume? Is there a Brinks service district map that is publicly available, or is that one of the tricks of the trade

Tricks of the trade - social engineering. Start talking.

 

[Diver_Down]

I've been doing just what you described for about 2 years now. Not quite on the scale of 100k, but my monthly dump is about 48k. I just hate the tedium of dumping. Knowing the service districts (note: not Fed district, but rather separate Brinks service districts), I load the dumps and drive them out of my territory once a month. Load the dolly and dump 8k at each stop.

That's very interesting. Do you dump at banks or do you dump at some sort of coin service like brinks/loomis/other? Do you feel that this is providing any sort of advantage other than the psychological benefit of keeping you from having to dump so often?

Thanks for the input!

It has been an advantage - somewhat. I don't post my finds. Everyone's finds have dropped (except for Nick's). However last year, I would expect $60-$80 face in keepers to consider a good week. Bad week would only garner $10 face. Plenty of skunks like everyone else, but I always managed net keepers. My dumps are bagged and dropped at banks.

There have been times where the Brinks vault has run out and they would source it directly from the Fed in Jacksonville (Water St.). Despite what people think of digging into the Fed's stockpile, it isn't what it is all cracked up to be. Most often, you'll get the newer issues and your boxes will nearly be solid of one date. The Fed doesn't have any need to "rotate" inventory as it doesn't go bad. Consequently, the newer inventory is the first to be drawn while the good stuff is buried.

The real advantage is the psychological effect of dealing with dumps on a regular basis. I loathe the process. We all do. The other benefit is that I know I'm not recycling the same coin every week. I'm digging into fresh inventory each week.

 

[mts]

Thanks diver for all of the great information! It sounds like you have it down to a science.

 

[Piledriver]

If you keep 100K in cash this year, you will lose at least $10,500 in buying power, due to inflation.
Of course, this is mitigated by the amount of silver you would find with it.

BUT, if you keep say, $2000 in cash, you will only loose $210 in buying power due to inflation.
The amount of money lost to inflation can be easily overwhelmed by the amount of silver you could find CRH'ing.

By that measure, you're way ahead with the smaller amount, not to mention that the dumping piper must eventually be paid, no matter what.

Keep on Rollin' !

 

[MIhunter]

I don't think keeping large amounts of cash/coin is good idea. Capitalone online bank gives about 1% in interest. On 100k that is 1000 dollars per year or 34 oz of silver per year at today's spot price.

Pesonally I never keep more than $1000 in coin before dumping, but I got 4 kids and a wife to support.

As it has been said before, a person is probably better off working an extra shift/job/hours and using the cash to buy silver and gold locally where ever iti s cheapist (craigslist, pawn shop, coin store, etc).

 

[mts]

I don't think keeping large amounts of cash/coin is good idea. Capitalone online bank gives about 1% in interest. On 100k that is 1000 dollars per year or 34 oz of silver per year at today's spot price.

Pesonally I never keep more than $1000 in coin before dumping, but I got 4 kids and a wife to support.

As it has been said before, a person is probably better off working an extra shift/job/hours and using the cash to buy silver and gold locally where ever iti s cheapist (craigslist, pawn shop, coin store, etc).

The goal is to find other investments that will beat out that 1%. I already have the money in that kind of account. Personally, it is quite depressing to see the meager returns that I get from such an account. For that paltry sum of money I'd rather take a little risk and try to turn it into something bigger.

 

[mts]

... not to mention that the dumping piper must eventually be paid, no matter what....

I think you hit the nail on the head. The dumping piper is going to have to be paid. I was hoping that there would be a way that I could dump larger amounts someplace other than a bank. But that is apparently a pipe dream.

 

[Yinzi50]

What kind of vehicle do you have thats almost 2700 pounds of halves with 48k!

+1

Diver, what kind of vehicle for the 2400 lbs? My car has a 900-lb load capability. So the maximum coins I transported was $14k of halves, 700lbs. I blew out one tire during a very hot summer day.

 

[Diver_Down]

What kind of vehicle do you have thats almost 2700 pounds of halves with 48k!

+1

Diver, what kind of vehicle for the 2400 lbs? My car has a 900-lb load capability. So the maximum coins I transported was $14k of halves, 700lbs. I blew out one tire during a very hot summer day.

Ford F-350 super duty.

 

[Balboa]

Does anyone here actually dump to their own buy banks or to banks using the same coin processor (Brinks, Dunbar, etc) from which their half dollar boxes are ordered? For those that do, it would make little sense as you'd be searching your own dumps, right? Am I missing smething here? Thanks for responding.

 

[namster]

What kind of vehicle do you have thats almost 2700 pounds of halves with 48k!

+1

Diver, what kind of vehicle for the 2400 lbs? My car has a 900-lb load capability. So the maximum coins I transported was $14k of halves, 700lbs. I blew out one tire during a very hot summer day.

My F150 will do a 5000 pound trailer no problem.