Dump Bank Concern
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  1. #1

    Dec 2020
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    All Types Of Treasure Hunting

    Dump Bank Concern

    Just got into roll hunting about a month ago, made a few new accounts. Finally seemed liked I found a good system with my pick up banks and dump bank. I was dumping about $1,000 worth of coin for the second time at my dump bank and the teller told me that from now on their policy is that they will only accept coin in that large an amount from the place you order it from. In other words, they don't want me dumping that much coin at their establishment. This is the only bank with a coin machine nearby. Do you all use coin machines at your bank or are there other methods to dumping that much coin?

    Thanks for any help
    Wildcat1750 likes this.

  2. #2
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    steve andermatt

    Apr 2013
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    Tell them you run an arcade and that is from your machines and do they really want to lose your business.
    back of the boat

  3. #3
    Charter Member
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    Nick

    Nov 2012
    Western CT
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    Welcome to TNet!
    I can't even find a bank that's open right now...



    Cleaning Up The Planet...One Pull Tab At A Time.

  4. #4
    Charter Member
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    Apr 2020
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    My bank has a coin counter that they use. Small bank that still does everything they can for customers. Its funny that banks are moving away from coins. Cash is next!

  5. #5
    Charter Member
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    Oh and welcome!!

  6. #6
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    Feb 2008
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    It’s not impossible to find a place that will take your bulk coins loose or in rolls over the counter. I did it for several years.
    But yeah, Pale is right, people just don’t use much cash anymore so counters are hard to find. In the mean time, I continue to buck their system.

  7. #7
    Charter Member
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    Quote Originally Posted by Back-of-the-boat View Post
    Tell them you run an arcade and that is from your machines and do they really want to lose your business.
    It’s really too bad they no longer care about your business and they don’t want to handle your cash either.
    port ewen ace likes this.

  8. #8
    us
    Aug 2012
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    I check this forum at times and this Dump Bank - Pick Up Bank always reminds me of a Line from a Old Paul Simon Song " One mans ceiling is another mans floor "
    In short your dump might be my pickup and visa versa
    fistfulladirt likes this.

  9. #9

    May 2006
    CO, AZ
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    Quote Originally Posted by Back-of-the-boat View Post
    Tell them you run an arcade and that is from your machines and do they really want to lose your business.
    No. Never good to lie about it. Just not right. They probably would find out, but even if they don't, just not good to get into the habit of lying for business. Be honest with them.

  10. #10

    May 2006
    CO, AZ
    dfx, Ryedale!
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    "Do you all use coin machines at your bank or are there other methods to dumping that much coin?"

    I use a coin counter at my bank. And they are fine with it. But, I hvae heard that if you use a gift card instead of cash at some of the paid coin counters, you can do it for free. That won't help for $1,000 a week, but if you spend at Home depot or BB&B or any of the other places anyway, you can get some coins counted for free there.

  11. #11
    us
    Sep 2011
    Denver, Colorado
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    Banks make money by charging fees, not "handling your money". So, if you aren't paying the bank any fees but bothering them constantly with coinage counting and re ordering, etc., I can see why they want you to go away. Pay them a fee to order and allow to dump and see how fast they get in line to accept your "business".
    FormerTeller likes this.

  12. #12
    us
    Apr 2011
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    Or open a line of credit with them, or maintain a large balance. Basically you have to give them a reason to want your business.
    gordon and tanner likes this.

  13. #13
    us
    Mar 2015
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    Coin machine you say... Must be nice. Even finding an open bank is difficult. I re-roll and dump but keep it under $600 . Probably because they are going to have to change bags every time you come in they don't love that. I used to love the machines but they all seem to be going the way of the dodo. When they mention "coin shortage" to me I know thats a good dump bank. Some banks give you a bag to fill, take your info and the courier runs the assorted coins and credits your account when they clear. It slows down the time you get your money back in hand to buy more coins but its helpful if you don't want to sort and roll.

    I would be sad to be getting into crhing now. I'm trying to break the addiction but its a tough one to stop. Over the last 5 years for me its whittled down to finding nothing. I just traded a teller $50 in my searched dimes for $50 in pre-searched mwr dimes. That makes 5 times at 5 different banks I've been getting the same brand of dimes someone pre-searched on the $250 box level. I'm boggled since I can't imagine anyone having the free time to search on an industrial level like this in my area but so it goes. Wack. Best of luck. I'm going to grab a few loose halves from a teller that was out yesterday.

  14. #14
    us
    Oct 2009
    Massachusetts
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    Quote Originally Posted by teaserfirecat View Post
    Just got into roll hunting about a month ago, made a few new accounts. Finally seemed liked I found a good system with my pick up banks and dump bank. I was dumping about $1,000 worth of coin for the second time at my dump bank and the teller told me that from now on their policy is that they will only accept coin in that large an amount from the place you order it from. In other words, they don't want me dumping that much coin at their establishment. This is the only bank with a coin machine nearby. Do you all use coin machines at your bank or are there other methods to dumping that much coin?
    Thanks for any help
    Today, I went to my dump bank which, in the non-COVID world, would take my coins (halves) and go into the back where they has some huge, monolith coin machine that had been out front, but, because it broke down frequently, the bank decided to buy a smaller machine for the lobby (but keep the big machine).
    The small machine does not take halves, but the big one does which is why the tellers need to handle my coins.
    Currently, the bank lobby is shut down due to COVD, but is open by appointment, so now I call the bank, tell them when I'm going to show up with the halves, and then they take them inside and dump them in the machine and then bring me out an envelope of cash, All in all, it's about 10 minutes and they do all the work.
    As in the past, I bring the tellers some chocolates a couple of times a year. Today was no exception but I sweetened the pot a little. I decided to take a dozen of my least 'impaired' proof halves and include them with the Godiva chocolates. It's not really worth anything, but it's different and a curiosity piece that I bet few of them have ever seen.
    They probably get chocolates or other goodies from some customers at Christmas, but when they're gone, they're gone. They might remember me as the guy who gave them the half dollars.
    Maybe it will end up being a good investment.
    Megalodon and weighit like this.

  15. #15
    us
    Dec 2006
    Very Northern Left Coast
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    Quote Originally Posted by blueberra View Post
    Maybe it will end up being a good investment.
    or the next time you are in there will be a dozen proof in their drawers.

    A few time I have paid my mortgage with halves. They took them with a smile. (that is what they are paid to do)
    When I did yard sales I was dollardan. No yard sales where I am now.

 

 
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