Torpedoed

[Masao]

Hello,
My local bank has allowed me to pick of two boxes of halves on Tuesday and two more on Friday for about six months. Yesterday, I was informed by one of the assistant managers that he had to reduce my allotment to two boxes a week. He was very nice and apologetic about this situation and explained me that a couple of Coin Roll Hunters were ordering $10,000 a week each, causing the upper management team question these actions and decided to reduce the amount the bank could order. I thanked him anyway for his time as he is a really nice guy and knows exactly what I was doing. So, my best bank has been changed by a few people going over the top. Most people do not use halves in their daily purchases and I am surprise that anyone with that much cash would make such a mistake. Additionally, as this is a national bank I am sure that the local management team has communicated with their corporate team and this may affect the rest of the branches across the nation and not just in my home state.

Masao

 

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[jasonscoins]

I love this site, but why does everything have to be so vague? I can understand not telling somebody your location for fear of protecting your own turf, etc. But if it's a national bank as you say, then I take that to mean they are all over the place and not exclusive to your area. So why not just say, hey it's a PNC or a BOA, etc., etc.? That way we can all kind of be aware of the situations happening at different banks, especially the big ones. This isn't meant to be a slam on you Masao, because a lot of people leave tons of mystery like this in their posts. My question is -- what's the big deal in naming a bank if it's a huge one? BTW -- hope you can find another bank that will augment your cutdown at your national bank.

 

[Masao]

Ok, Bank of America.

 

[GlenDronach]

I'm not a fan of these huge volume buyers at single branches- I think it wears out welcome pretty fast.

The funny thing is, they're ordering multiple times what you order...and you get your order reduced! What a joke.

 

[StoneFree]

Hey sorry to hear that happened to you , I wonder if the people who were ordering 10k a week got theirs cut to 5k a week. Maybe you can go back and tell the manager that you want to order 8 boxes a week so you can still get 4? Or maybe you can come to an arrangement where you tell the manager that for every box they order for you you'll deposit extra money into your account and let it sit there for a few weeks before you withdraw it.

 

[mark1982]

I'm not a fan of these huge volume buyers at single branches- I think it wears out welcome pretty fast. The funny thing is, they're ordering multiple times what you order...and you get your order reduced! What a joke.

I agree . Even though large volume hunters feel this is not the case it's true. I think deep down they know it's the truth but refuse to admit it hurts the hobby.

 

[Masao]

He said everyone got cut down to two boxes a week.

 

[weighit]

I order through BOA and try to get 4 boxes a week. Some weeks they come in most they don't. One week I got 8 boxes, it is always a guess as to what I will or won't be picking up. I was just supposed to have coins Friday and none came in. The Vault teller said she orders and has no control over what actually comes in. So far I have never been told I'm either cut off or cut down.

 

[Masao]

Then, I was lucky as this location ran like clockwork, 4 boxes every week.

 

[Iamrussell]

Dont bad mouth all big volume hunters- you have no clue how long theyve been hunting and how long theyve worked their way up to 10boxes a week- most of the big volume hunters work their way from 1box a week to 2 then 4 then 6 and so on- making good relations with the tellers and vault managers- and yes it sux for all crh involved when the upper management decides to cut back on everyones ordering- but it can happen even if there is just 1 hunter ordering a couple boxes a week-

-------------------------------------
just keep stacking, just keep stacking, stacking stacking stacking

 

[BuffaloBoy]

Greedy CRH'ers will indeed ruin it for some... There is a fine line on ordering just enough coins and too much, and nobody should ever order 10k worth of halves at a single time, even if they have millions in that bank. Some will disagree with me on that one, but that's my opinion.

 

[Avago]

Good relations with the tellers and managers only goes so far. If I had to move that much coin every week on their measly hourly wage, my patience would be exhausted very quickly no matter how nice you were. The expenses the bank likely incurs moving that much coin will make it very likely that it will stay difficult for the hunter to fly under the radar for long, and as Masao experienced, getting cut off or cut down affects more than just you. Sorry, Masao. I don't think I would ever order more than 4 boxes a week from a single branch.

 

[NorthernTesoro]

I always look at coin roll hunting the same way as my metal detecting and that is to try to keep a low profile, try to protect our hobby not destroy it. It might be quite an achievement to work your way up to 10k a week but to me it's akin to detecting at all hours of the day and annoying other park visitors/neighbors. It's perfectly within our right but do we really want to project a negative image that might bite us later on?

 

[Owassokie]

Iamrussell,
I didn't see the previous posts as bad mouthing volume hunters. I saw a statement that volume hunters generally don't acknowledge they hurt the hobby(probably because they haven't...yet). As a former volume hunter, I know this to be true. I've seen the discussion multiple times on multiple boards.

I've said all along that your relationship with branch managers/employees only takes you so far. It doesn't matter how long it took you to build up to "X" number of boxes. Most banks will shut it down when upper level management catches wind of the increase in coin in/out.

With all of that said, it's important to acknowledge that some people don't see CRHing as a hobby or feel it's there responsibility to preserve other CRHers banking relationships. I don't share the opinion but it is there prerogative.

 

[silvercounselor]

On Monday my bank (Dollar Bank) informed me that they will no longer be ordering change for me anymore. They said their security department became distraught at how much change they were ordering and said to stop. There were only three people ordering change, myself my brother and another HD hunter. I ordered 4 boxes of halves, 2 boxes of nickles my brother ordered 3 boxes of pennies and the other guy was ordering 6 boxes of halves a week.

I guess it just goes to show you nothing lasts forever.

 

[GlenDronach]

Iamrussell,
I didn't see the previous posts as bad mouthing volume hunters. I saw a statement that volume hunters generally don't acknowledge they hurt the hobby(probably because they haven't...yet). As a former volume hunter, I know this to be true. I've seen the discussion multiple times on multiple boards.

I've said all along that your relationship with branch managers/employees only takes you so far. It doesn't matter how long it took you to build up to "X" number of boxes. Most banks will shut it down when upper level management catches wind of the increase in coin in/out.

With all of that said, it's important to acknowledge that some people don't see CRHing as a hobby or feel it's there responsibility to preserve other CRHers banking relationships. I don't share the opinion but it is there prerogative.

Exactly, that's my worry. Even if you are best friends with the manager and the teller and are oh so polite and thankful when you pick up your $10k in halves, branch or corporate management is going to notice that $10k a week order from that one branch and realize a great and quick way to cut costs.

I've talked with managers and you might not think it's a big deal, but it comes up at regional meetings. Volume coin orders definitely come up. I'm sure BOA once upon a time had a meeting and now no one can have halves in many parts of their service area.

 

[fistfulladirt]

As my dear old grandad always said, "everything in moderation".

 

[CC-Hunter]

As my dear old grandad always said, "everything in moderation".

...including moderation

 

[Jeremy S]

On Monday my bank (Dollar Bank) informed me that they will no longer be ordering change for me anymore. They said their security department became distraught at how much change they were ordering and said to stop. There were only three people ordering change, myself my brother and another HD hunter. I ordered 4 boxes of halves, 2 boxes of nickles my brother ordered 3 boxes of pennies and the other guy was ordering 6 boxes of halves a week.

I guess it just goes to show you nothing lasts forever.

You guys have to realize that these banks are doing CRHs a MAJOR favor by ordering boxes of coin for them. It costs the banks money to order the boxes, and costs them money to ship those halves back when somebody dumps $10k back on them.

Businesses are always looking for ways to cut costs and save money. They have to do this in order to stay competitive and to stay in business. If a branch is paying thousands a year to order boxes of half dollars for non-commercial customers, sooner than later somebody is going to take notice and cut everyone off.

Several of the banks in my area will not sell a non-commercial customer a box, only a few rolls that the teller has.

 

[Darth Walker]

Agree with geremy. I work at a bank.