$100 bag from US Bank short?

[John-K]

So couldn't find any rolls of 1/2 dollars but a US Bank had a bag that was sealed and marked $100. This being my first chance to try this out I bought it and my son and I went through this weekend. It is short 4 pieces, only $98 in there so now my son and I are already down $2 with nothing of value found. Is this common? I have read of people missing a coin out of a box, but this 4 coins out of a small bag. :-(

 

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[crhstreetwalker]

I would cut your losses and move on, it's just apart of the game. I've had whole rolls of halves missing from boxes if it makes you feel any better.

 

[kwkstar]

The next time I was there I would make them count it!

 

[mercury1]

It happens. Not much you can do but at least for me it doesn't happen often and it's just the price you pay to hunt silver. Keep at it.

 

[fistfulladirt]

The next time I was there I would make them count it!

They'll love that, especially a sealed bag. But not a bad idea.

 

[sagittarius98]

It happens, people have lost even a $100 or more from the $1000 bag.

 

[StevoCBR]

It happens all the time on bags and some times with boxes.....the cost of doing business.

 

[BuffaloBoy]

been there, done that... moved on.

 

[The_EE]

So couldn't find any rolls of 1/2 dollars but a US Bank had a bag that was sealed and marked $100. This being my first chance to try this out I bought it and my son and I went through this weekend. It is short 4 pieces, only $98 in there so now my son and I are already down $2 with nothing of value found. Is this common? I have read of people missing a coin out of a box, but this 4 coins out of a small bag. :-(

In that last year.

Purchased a $1000 bag of quarters, it contained over $26 worth of forgien coins, Korean 100 WON coins. I have been using them here and there in vending machines.

From that same bank, I picked up a $100 bag of halves, it was missing $19 worth of coin.

Just within the last month, I dumped $1000 in halves, the machine original came back with $720ish worth, second run was$650's and third was $869. They gave me the $869 since I always drop off $1000 on the nose. After having another company count it, it was still short, I lost $131.

Its part of the game.

 

[theekman]

Only 2 bucks, you'll loose plenty more in gas in the future

 

[maverick]

Yup, part of the game, the crappy part, but part of the game. Good luck, Maverick.

 

[John-K]

Just seems to be very "wrong" to go to a business and do a money transaction that is pretty simple and have it flawed. They are in business to correctly handle money right? ;-)

 

[FloridaFinder]

Just seems to be very "wrong" to go to a business and do a money transaction that is pretty simple and have it flawed. They are in business to correctly handle money right? ;-)

They should be in business to correctly handle money, but there is a certain amount of trust in the banking industry. They trust that the coin suppliers give them they correct amounts. Sometimes some tellers/managers trust that an account holder that brings in coin (either in bags or rolls) has brought in the correct amount.

We would hope that if an account holder has brought in a bag of coin that they would verify the amount before selling it to another account holder, but this isn't always they case.

HH

 

[John-K]

In that last year.

Purchased a $1000 bag of quarters, it contained over $26 worth of forgien coins, Korean 100 WON coins. I have been using them here and there in vending machines.

From that same bank, I picked up a $100 bag of halves, it was missing $19 worth of coin.

Just within the last month, I dumped $1000 in halves, the machine original came back with $720ish worth, second run was$650's and third was $869. They gave me the $869 since I always drop off $1000 on the nose. After having another company count it, it was still short, I lost $131.

Its part of the game.

To me this is even scarier! So not only can the bank get you when you are buying but they can also substantially short you on the return?

So realisticly this actually a form of slots with generally the house coming ahead just as if you went to Vegas. At least in Vegas they give you drinks!

 

[GlenDronach]

Just seems to be very "wrong" to go to a business and do a money transaction that is pretty simple and have it flawed. They are in business to correctly handle money right? ;-)

Yes, they are, but you're a special case. If you gave them $100 and asked for $20's, and they gave you 4, yes, complain.

But how many people go in asking for $100 bags of halves/dimes/pennies?

The machines are inaccurate because they work fast and the dirt/wear plays havoc with them sometimes. This isn't a 'normal' transaction for them, and it's all part of the game. You hope you get someone's stash dumped, and in return, you risk a little more of your money.

If you're not comfortable with losing $2 don't buy a bag again.

But please, don't mention it to them or complain. You found a bank that will give bags out. Most don't, because someone who wanted big rewards without risking the inaccuracy came back and raised hell. SEVERAL banks who know me by name and are happy to give me boxes won't give out bags because someone complained about the bags being inaccurate.

 

[thripp]

Being shorted in rolls and in bags is unfortunately common. If they are individual rolls you can weigh them and make sure they are around 225 grams, but it's harder to get an accurate weight on a $100 bag since there are more coins so there could be more variance.

 

[John-K]

Yes, they are, but you're a special case. If you gave them $100 and asked for $20's, and they gave you 4, yes, complain.

But how many people go in asking for $100 bags of halves/dimes/pennies?

The machines are inaccurate because they work fast and the dirt/wear plays havoc with them sometimes. This isn't a 'normal' transaction for them, and it's all part of the game. You hope you get someone's stash dumped, and in return, you risk a little more of your money.

If you're not comfortable with losing $2 don't buy a bag again.

But please, don't mention it to them or complain. You found a bank that will give bags out. Most don't, because someone who wanted big rewards without risking the inaccuracy came back and raised hell. SEVERAL banks who know me by name and are happy to give me boxes won't give out bags because someone complained about the bags being inaccurate.

First off I didn't go in there asking for a bag of halves, I didn't know such a thing existed. I went in there with my six year old to introduce him to coins and what seemed a safe hobby that he could have fun with. I was looking for a roll or loose, they offered the bag. If they would having mentioned that there is a chance of the bag being short, I wouldn't have purchased it. Instead they sold me an item they sealed and marked as accurate.

Second, I definitly didn't expect "big" rewards. It was in a clear bag sitting on a counter, I was pretty sure that it had been "looked" through numerous times. I was hoping for a fun experience to get my son interested. Instead I got the "opportunity" to try and explain why a business who specializes in the transaction of money signed, sealed, and said one thing but gave us another. I told the bank specifically the money we were using was from my 6 year olds savings. I of course am replacing the missing money with my own.

Hearing from others that this is not an uncommon occurance is good on one hand since it sounds like most likely they have a degree of error due to mechanical issues, sad though since it would have been nice to know of it prior to involving my son at that point.

Live and learn, I will probably just let him work on getting loose coins and occasional roll if they ever occur.

 

[FloridaFinder]

Sorry that some of us may get a little too excited about bags of halves, they are unavailable to most of us. The chance of finding a whole coin collection that was dumped into a coin counter or bag is very probable.

If this was your first CRH experience or your son's, then sorry it wasn't a better one. I just started myself a few months ago, and this hobby has its up and down. Once you work out your system it should definitely have more ups than downs.

Happy hunting

 

[GlenDronach]

First off I didn't go in there asking for a bag of halves, I didn't know such a thing existed. I went in there with my six year old to introduce him to coins and what seemed a safe hobby that he could have fun with. I was looking for a roll or loose, they offered the bag. If they would having mentioned that there is a chance of the bag being short, I wouldn't have purchased it. Instead they sold me an item they sealed and marked as accurate.

Second, I definitly didn't expect "big" rewards. It was in a clear bag sitting on a counter, I was pretty sure that it had been "looked" through numerous times. I was hoping for a fun experience to get my son interested. Instead I got the "opportunity" to try and explain why a business who specializes in the transaction of money signed, sealed, and said one thing but gave us another. I told the bank specifically the money we were using was from my 6 year olds savings. I of course am replacing the missing money with my own.

Hearing from others that this is not an uncommon occurance is good on one hand since it sounds like most likely they have a degree of error due to mechanical issues, sad though since it would have been nice to know of it prior to involving my son at that point.

Live and learn, I will probably just let him work on getting loose coins and occasional roll if they ever occur.

Just stick to rolls, others have had inaccuracies with them, but i've never had enough to notice. For example, dumping a box of dimes/quarters I know exactly what's in them and what came out, and I've never been surprised. Machine wrapped rolls are much more accurate. Customer wrapped rolls are the same as the bags- we look for them hoping to find some little old lady's coins, but more often than not, we get Scumbag Steve's washers.

 

[John-K]

I have to say I have been enjoying reading on TNet for a little bit. But mainly over in the Gold prospecting area. This CRH stuff sounds interesting and can help my son with both numbers and history so is intriguing.

You guys dropping thousands of dollars daily/weekly are way more couragious then myself. From what I can see a 35% loss due to machine error can happen so it makes my 2% loss seem silly, but it was suprising especially when I was trying to teach my son about math and banking.

If you have a 100 dollar bill and you take it to the bank to trade for 50 cent pieces, how many will you get? :-)

Hopefully we will find something shiny someday but I was really trying to work with him on math and that kind of got oopsed.

I do think that if you really want to limit get rich quick and easy people, stating brutal loss statistics of monetary valur would help. I see lists of how many boxes people get and how many are skunks but maybe a new term like porcupine for when you not only get zero silver but also lose coins. ;-)