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  1. #16
    us
    May 2018
    Maryland
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
    1,359
    2029 times
    All Types Of Treasure Hunting
    Quote Originally Posted by rcb187 View Post
    damn roscoe that is badass. grats. i just started myself. question. do you only look for wheats and IH? what about LMC error and variety. what do you do with the searched pennys? the bank got mad at me today with my order of a box of 500$ halves. lol i have been pondering ideas around this. I saw some guys open a few seperate free bank accounts.

    IMO for pennys , the 3$ that coinstar charges is worth it, when it takes me over 2 hours to reroll 2500 pennys lol.
    Why did the bank get "mad at you" for a single box of halves? Did you try to return it to the same bank that sold it to you? That is always a bad idea.
    I get 3 boxes at a time at my pickup bank and they are happy to do it. After searching them, I take the rejects to different branches of two different credit unions that have coin machines. I dump at 6 branches of those two credit unions in all - and no fees to do so. Two of those 6 branches have coinstars free for credit union members - which is nice because the coinstars require no bag changes. I try to limit my dumps to $400 each, with occasional higher dumps at the free coinstars. Check into credit unions and see if they have free coin machines for members.
    rcb187 likes this.


    Always do right; this will gratify some and astonish the rest.
    - Mark Twain


  2. #17

    May 2018
    Cornville, AZ
    Garrett AT MAX
    61
    92 times
    All Types Of Treasure Hunting
    interesting. thats quite a few wide am haha. do you sell coins on ebay or just stack em? how much money is in a bag? box is 25, bag 100? ill have to ask if they do bags. thanks alot man you gave me some good insight!

  3. #18
    us
    Mar 2018
    Bryant, WI
    Tracker IV (hobby lobby 40% off ;-) )
    535
    1264 times
    CRH, hockey cards
    Quote Originally Posted by rcb187 View Post
    interesting. thats quite a few wide am haha. do you sell coins on ebay or just stack em? how much money is in a bag? box is 25, bag 100? ill have to ask if they do bags. thanks alot man you gave me some good insight!
    I haven't sold anything, just stacked them. Thought it was neat finding the WAMs, then found more and realized they really aren't rare. As I searched more realized more and more the ones I got excited about were old ones and the foreign ones. Errors just don't do it for me...

    A bag of cents for me is $50, bag of nickels is $100, dimes or quarters are $500, and $500 for halves (though think they're usually 1k for the bag, just happened to be at the branch at the right time). When I started I just told the teller what I was doing and asked what would work best for them on their end. I kinda knew the vault manager, had worked with her relation before, and I'm in a relatively small town. I'm extremely fortunate that all the people at the bank seem quite supportive thus far. Be polite, be understanding, do what you can to help, and candy/treats don't hurt ;-).
    rcb187 likes this.

  4. #19

    May 2018
    Cornville, AZ
    Garrett AT MAX
    61
    92 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Megalodon View Post
    Why did the bank get "mad at you" for a single box of halves? Did you try to return it to the same bank that sold it to you? That is always a bad idea.
    yes basicly this, i called other banks around town and one said they had a 500 just brought in, so i decided to grab it. finished searching it and called my bank, and asked if i could order one, they said yes. the next day i went to my bank with the 500$ box. she was like where did u get this box, i lied and just said i had it for a while, meanwhile i decided to check up on my order of the next box. shes like well we dont order them for collectors to just go through for a few silver coins. i appologized and said i still wanted the box and would not be returning it to their bank location.

    oh yes i am new to this... lol what a *******!

    I love the credit union idea. i think there is one in my town and it has a coinstar i will further investigate. not sure if they will let me become a member though due to my main address being a po box in another state. I travel around one location to the next for about six months at a time.

    wow roscoe 1,000$ worth of penny in a bag. damn thats intense. might have to upgrade the shocks on my car to transport it home. i will inquire about the bags in lower denominations.

    i recently ran into an old man who has six rolls of uncirculated Wheaties with 1940 on the ends. he doesn't know what price he wants for them so I offered 10$ per roll. we are due to meet Wednesday morning to discuss price, since you guys are such bad asses, any good haggling tips for Wednesday =D

    thanks again for the tips guys

  5. #20
    us
    May 2018
    Maryland
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
    1,359
    2029 times
    All Types Of Treasure Hunting
    rcb,

    I think $10/roll might be an overly generous offer on your part - and that many on this forum would sell you rolls for less. But it would be a bargain in the remote chance there was a key date in one.

    Even if the credit union does not work out for membership, check the non-member fee for its coin machine. My credit union charges nothing for members and 5% for non-members. I struck up a conversation with a guy feeding $1000 of dimes in the coinstar at the local walmart - charging 12.9% and told him there was another machine nearly across the street charging only 5% and he couldn't be bothered. Using the credit union machine would have saved him about $80 even as a non-member.
    rcb187 and Sleepy Holow like this.


    Always do right; this will gratify some and astonish the rest.
    - Mark Twain


  6. #21

    May 2018
    Cornville, AZ
    Garrett AT MAX
    61
    92 times
    All Types Of Treasure Hunting
    Quote Originally Posted by Megalodon View Post
    rcb,

    I think $10/roll might be an overly generous offer on your part - and that many on this forum would sell you rolls for less. But it would be a bargain in the remote chance there was a key date in one.

    Even if the credit union does not work out for membership, check the non-member fee for its coin machine. My credit union charges nothing for members and 5% for non-members. I struck up a conversation with a guy feeding $1000 of dimes in the coinstar at the local walmart - charging 12.9% and told him there was another machine nearly across the street charging only 5% and he couldn't be bothered. Using the credit union machine would have saved him about $80 even as a non-member.
    oh great idea! i am going to try for a membership, i have confirmed they have a coinstar there. lmao that is quite funny, but sad at the same time.

    as far as the uncirculated rolls goes, is it possible to find truly unsearched , uncirculated rolls online for less than 10$?

    question about penny returns to banks, should i also distribute my penny returns, i have done about 12,500 pennys in 5 days. but i have refined my strategy and i think i can do about a box a day. I will prob open up a free account at wells fargo for returning the 1/2 dollars, but am still curious about the penny, i suppose i should just distribute them as well since i am going to open up multiple accounts.
    Last edited by rcb187; Aug 06, 2019 at 11:10 PM.

  7. #22
    us
    May 2018
    Maryland
    White's MXT Tesoro Cibola Tesoro Golden Sabre Plus Garrett ADS Master Hunter 7
    1,359
    2029 times
    All Types Of Treasure Hunting
    Quote Originally Posted by rcb187 View Post
    oh great idea! i am going to try for a membership, i have confirmed they have a coinstar there. lmao that is quite funny, but sad at the same time.

    as far as the uncirculated rolls goes, is it possible to find truly unsearched , uncirculated rolls online for less than 10$?

    question about penny returns to banks, should i also distribute my penny returns, i have done about 12,500 pennys in 5 days. but i have refined my strategy and i think i can do about a box a day. I will prob open up a free account at wells fargo for returning the 1/2 dollars, but am still curious about the penny, i suppose i should just distribute them as well since i am going to open up multiple accounts.
    Oops - I missed the condition of those rolled cents as UNCs. That could be worth buying!

    You'll soon become intimately familiar with how the coin machines work once you start filling their bags. I try not to dump more than $400 in halves per week or two in a machine that uses bags, but I've dumped as much as $900 in free coinstars since they have no bag to fill. I don't go close to closing time or when they are busy - like late Fridays or any time Saturday. Use several branches so you don't become a pest who requires frequent bag changes at one location.

    I don't do cents, so will leave that advice for someone who does them.
    Last edited by Megalodon; Aug 06, 2019 at 11:33 PM.
    rcb187 likes this.


    Always do right; this will gratify some and astonish the rest.
    - Mark Twain


  8. #23

    Dec 2006
    Twin Cities, MN
    Garrett Ace 250
    2,477
    162 times
    All Types Of Treasure Hunting
    Quote Originally Posted by rcb187 View Post
    oh great idea! i am going to try for a membership, i have confirmed they have a coinstar there. lmao that is quite funny, but sad at the same time.

    as far as the uncirculated rolls goes, is it possible to find truly unsearched , uncirculated rolls online for less than 10$?

    question about penny returns to banks, should i also distribute my penny returns, i have done about 12,500 pennys in 5 days. but i have refined my strategy and i think i can do about a box a day. I will prob open up a free account at wells fargo for returning the 1/2 dollars, but am still curious about the penny, i suppose i should just distribute them as well since i am going to open up multiple accounts.
    As far as cashing in unwanted coins, it ultimately will depend on where you live and how many banks/branches there are in your area. If you live in a more rural area with only a few banks to pick from you'll either have to spend more in gas to spread it around or dump at the same banks/branches fairly frequently.

    If you are in a large city with lots of banks/branches to choose from without burning lots of extra gas, I would spread it out at least somewhat depending on how much volume you are doing. If the bank has a self serve coin machine that doesn't bag the coins (big box underneath), my max cash in was usually what I could carry into the bank in one trip from the car. If all cents, that was usually 4 bags with ~$50/bag or ~$200 worth. If at a bank I rarely went to, I would sometimes increase that to two trips to the car. My largest volume dump was about ~$1275 dollars with all but $100 or so being in cents.... took many trips to the car, of course I think that was one of the only two times I ever cashed in at that branch.

    Back in those days almost all my dumps went to Wells Fargo as it was the most convenient for me, but they no longer have coin machines in my area so today I would have to roll them or bring them somewhere else. Ultimately, you'll have to figure out the best strategy for you in your area and in may take some experimenting. In general though, you probably will need an account at any bank you want to use to cash in. Ideally your dump bank will use a different armored service than the one you pick up from to make it less likely to pick up your own dumps. Of course, if you are buying bags directly off the coin machine, that wouldn't matter as they aren't coming from the armored service anyway.

    The other thing I did was to keep a log of all my pick ups and dumps in the odd event I should ever get audited and somehow a question was ever raised about odd transactions, I had records to prove there was nothing illegal going on. I also tried to stick to cash transactions (buying and dumping) so ideally there was no audit trail anyway, but my logs were my backup. Again unlikely to ever be needed, but I cashed in ~$500,000 in coin over the 8 years I was CRH'ing heavily, so I wanted to be certain it would never be considered "taxable" in any way if there was ever a question.

    Like Megalodon said, the one thing you don't want to do is become a pest either on the buying side or the dumping side by doing things like demanding the bank sell you coin or other activities. I heard plenty of stories from the bank tellers at branches I frequented about people making demands or just plain being rude and thinking they were owed whatever... Treat tellers with respect and they will likely do the same. I know some people like to say they bring treats to their tellers. Personally, I never felt it was necessary and sort of feel like a gift to a bank teller is sort of a "bribe" which viewed in the wrong light can make you look shady and I didn't want that. Ultimately, they are in the service industry and just doing their job.

    I only had one lead teller ever give me a hard time for dumping coin, but that was only because one of the other tellers early on had told me to dump as much as I wanted at that branch, so I started dumping there frequently (not quite daily, but frequently). After a discussion with the lead teller, I just spread it around instead and tried not to stop at any one branch more than about once a month for dumping.
    Sleepy Holow and rcb187 like this.

 

 
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