Do you purchase the bags of coins from the counting machine at your own dump bank?

[Zero]

My small town has one bank with a counting machine (just installed) and it is free to account holders (I signed up and dumped a $100 in nickels-it was fun). I haven't asked them about purchasing the bags of coins yet. Do you purchase the bags of coins from the counting machine at your own dump bank?

Also, there is a reject slot with a little flapping door but what is this reject tube that has been mentioned in other posts?

Any advice on how much to dump or how often would be appreciated.

 

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[Infowarrior]

This machine sounds like one in my area, does it have a belt that the coins get fed with?

I wouldnt buy dumps of the same denomination you dump... sounds a bit redundant to me... but it wouldnt hurt to ask to buy other denominations... 95% of the time I have asked them, they say they arent allowed too, I found 1 bank/branch that will, but thats it.

I think those reject tubes are at TD banks.

 

[Zero]

This machine sounds like one in my area, does it have a belt that the coins get fed with?

I wouldnt buy dumps of the same denomination you dump... sounds a bit redundant to me... but it wouldnt hurt to ask to buy other denominations... 95% of the time I have asked them, they say they arent allowed too, I found 1 bank/branch that will, but thats it.

I think those reject tubes are at TD banks.

Yes...it is the one with a conveyor belt. Worked pretty well. I even ran some foreign coins through at the end to see if it would take them (it did not). It rejected a canadian dime, deutschland 10 pfennig, and a 5 cent euro.

Sounds like it is pretty uncommon for the banks to be willing to sell their bags out of the machine in your experience. Thanks for the help and congrats on your "Christmas in April" cwr find! Amazing.

 

[Nomatic00]

The head teller at my dump bank volunteered to sell me the bags from the coin counter. It's a smallish local bank, that goes out of there way to be helpful, so they may be the exception here.. I would say build up a relationship with the tellers over a few weeks or so. Take them in some treats when you dump. Then after they are used to you coming in broach the subject. You may get lucky.
I haven't taken my bank up yet on the offer but I plan to. It seems to me that the odds of getting silver out of the coin counter could be better than boxes. Of course if some other CRH is dumping in that machine, then your screwed,but I think it would be worth getting a bag or three just to find out..

 

[Vergie]

I've tried at my banks many times. They haven't budged yet. They always ship them back to the Fed

 

[Styfflin]

One of my banks allowed me to twice. Then the next time I walked in, there was a new company policy in place saying that they couldn't sell coin counter bags. I am going to try some new banks today!

 

[waseeker]

No because all you will get back are your dumps.

as for purchasing bags. I tell my banks that if I pick them up they will never see the coins again and that I understand if the bag is short it is my loss. Of course you have to have another place to dump the coin. When buying directly off the machine small losses can/should be expected especially with dime bags.

 

[jd750707]

Cant buy them from my credit Union, they ship to Feds per bank policy... The internal reject bin can be a gold mine if you ever have to have it opened in front of you... I pray for jams or full bags now when i dump

 

[Zero]

Cant buy them from my credit Union, they ship to Feds per bank policy... The internal reject bin can be a gold mine if you ever have to have it opened in front of you... I pray for jams or full bags now when i dump

I was thinking of running an Ike through to see if it would jam and be opened up but figured not the first time that I used it. Seems like this would annoy the tellers.

 

[Generic_Lad]

Depends on how much you dump. If, say, you're doing a small dump of $20 in nickels and the bag fills, there's still at least $80 that hasn't been searched by you. On the other hand, if you routinely dump large amounts, you will be re-searching your own dumps.

 

[sagittarius98]

For the internal tray, just ask to open it. My CU always opens it, I am allowed to keep everything but US (I can purchase any US at face value).

 

[Iamrussell]

For the internal tray, just ask to open it. My CU always opens it, I am allowed to keep everything but US (I can purchase any US at face value).

Great advice- ill have to see if it works- I actually noticed what looked like an Ike in the inside bin but not sure when I dumped on Fri and asked the teller if I could have it and he gave it too me free of charge-