CRH as a hobby could be DOOMED

[Dozer D]

Was talking the other day with a guy from our church, who works for Cummings office equipment/coin counting machines. He knows I CHR for AG. He said that Cummings has just come out with a large coin counting machine that could extract SILVER. If that's the case, all banks & coin handling vendors will end our hopes & dreams of this hobby we love all too well. Your comments and suggestions

 

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[kfs]

This story has been resurfacing for years now I think.

Someday it may happen but you are not the first person to propose the demise of crh as a result of coin coining equipment and I am sure you will not be the last

 

[Omega]

Not true, simple as that, not worth it for them, we'll see silver for a lottttt longer

 

[Sleepy Holow]

Gotta agree with Omega. I think for the amount of silver left in circulation it's not worth their time/capital investment...aka the juice just ain't worth the squeeze. Might have to watch out for that kinda activity if Ag spikes up to $50+ though.

 

[50cent]

Cummins*, if da guy from the church really does work for cummings we have nothing to worry about. If he works for cummins, then, we may have a problem. Ill pay him off, industrial sabotage, to destroy all production plans, machinery ect. we can start a t-net group fund up tomorrow.

 

[50cent]

 

[baddbluff]

Box hunting would be threatened, true. Just means we would all have to catch the silver before it makes it's way to the sorters. CWRs will always be out there, and there will always be fools who trade their silver in for face value.

The real threat would be if they did away with coin altogether like Finland or Norway has (can't remember which country it is). Currency-less economy.

That will never happen here - we have too many homeless people that need the change.

 

[fistfulladirt]

I agree, not worth their time or effort to cull silver.

 

[SilverForBrains]

JP morgan has equity 1/7th of the entire US GDP. they won't be culling bens anytime soon, they're too busy stacking them

 

[SilverForBrains]

ok I see. Cummings makes coin counters for banks. lobby type coin counters. That doesn't mean the hobby will be doomed it just means less silver will enter into circulation from banks that use these counters.

coin counting machines

None of the banks in my area have cummings coin counters. thankfully. With sniping tellers the only way my boxes get silver is through coin counters. only 1 person has to miss it, not 1 person + all the tellers at the bank that day

 

[MIhunter]

Was talking the other day with a guy from our church, who works for Cummings office equipment/coin counting machines. He knows I CHR for AG. He said that Cummings has just come out with a large coin counting machine that could extract SILVER. If that's the case, all banks & coin handling vendors will end our hopes & dreams of this hobby we love all too well. Your comments and suggestions

This is not new technology
Banks and coin counting services (Brinks, Loomis, etc) have had this ability for decades.
They don't do it because the profit in silver is less than the cost of slowing down the coin counting.
That is also true for CRHers, If you add up the money you spend on gas and add the value of your time (Your hourly wage from work x hours of CRHing)
CRHing doesn't break even.
The business of CRHing is and has been dead.
The hobby of CRHing is alive and well.

 

[BuffaloBoy]

well said, I have been on this site for years and have seen this topic pop up many times...

This is not new technology
Banks and coin counting services (Brinks, Loomis, etc) have had this ability for decades.
They don't do it because the profit in silver is less than the cost of slowing down the coin counting.
That is also true for CRHers, If you add up the money you spend on gas and add the value of your time (Your hourly wage from work x hours of CRHing)
CRHing doesn't break even.
The business of CRHing is and has been dead.
The hobby of CRHing is alive and well.

 

[GlenDronach]

I'll tell you the real reasons why CRHing is doomed.

This all happened TODAY, no joke.

1) I let someone go ahead of me at the bank to dump coins because I had a lot, and you know, manners. He dumped a whole coffee container of dimes ($280 of solid dimes, hmm, wonder what he's up to?) onto the machine and turned it on, then said to me it wasn't working. I told him to lift up the shield first, so they'd spill into the chute. All sheepish, he finishes up and leaves.

2) While I was picking up my box, someone came in and ran $1,500 of solid bags of dimes and quarters in the machine in a very small and quiet lobby. Not very aware of etiquette...

N00bs and people with no common sense of how to operate in this hobby are the ones that will doom it. They'll end your hobby faster than any magic machine.

 

[50cent]

I'll tell you the real reasons why CRHing is doomed.

This all happened TODAY, no joke.

1) I let someone go ahead of me at the bank to dump coins because I had a lot, and you know, manners. He dumped a whole coffee container of dimes ($280 of solid dimes, hmm, wonder what he's up to?) onto the machine and turned it on, then said to me it wasn't working. I told him to lift up the shield first, so they'd spill into the chute. All sheepish, he finishes up and leaves.

2) While I was picking up my box, someone came in and ran $1,500 of solid bags of dimes and quarters in the machine in a very small and quiet lobby. Not very aware of etiquette...

N00bs and people with no common sense of how to operate in this hobby are the ones that will doom it. They'll end your hobby faster than any magic machine.

i fully endorse this message.

 

[JunkDetector]

Not all CRHing is about silver. There are plenty of cent hunters out there as well as people interested in filling coin books for various denominations. The greed of silver hunters is the only true threat the hobby has. What do you think bothers a bank more: someone trying to fill up a (whatever) book or someone who only cares about how much silver they rack up and orders massive volumes?

 

[Omega]

Not all CRHing is about silver. There are plenty of cent hunters out there as well as people interested in filling coin books for various denominations. The greed of silver hunters is the only true threat the hobby has. What do you think bothers a bank more: someone trying to fill up a (whatever) book or someone who only cares about how much silver they rack up and orders massive volumes?

Everyone does it for their own reasons, lets not hate on the mass ordering silver lovers.

 

[Iamrussell]

Everyone does it for their own reasons, lets not hate on the mass ordering silver lovers.

Thanks for stating what I was thinking- I only do it for the ag- that's it and for the most part all the old timers on here that you never see post anymore same thing- if you're into collecting fine thats cool but for us stackers don't go blaming and saying it's going to be our faults of destroying this hobby- to each his own- I do agree that the noobies that don't do any research and learn the etiquette are more dangerous to us all

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

 

[GlenDronach]

Not all CRHing is about silver. There are plenty of cent hunters out there as well as people interested in filling coin books for various denominations. The greed of silver hunters is the only true threat the hobby has. What do you think bothers a bank more: someone trying to fill up a (whatever) book or someone who only cares about how much silver they rack up and orders massive volumes?

It doesn't matter, if they for example, buy the coins there and bring them back, or are rude to tellers, or cause too much disruption. That's the worry.

You're right, mass ordering can mean people walk on a fine line, and I'm sure that it can cause problems that will be damaging in the long run. But you get a bad apple or two, no matter the quantity, and they're going to cause damage to everyone.

 

[Mtldealer]

This is not new technology
Banks and coin counting services (Brinks, Loomis, etc) have had this ability for decades.
They don't do it because the profit in silver is less than the cost of slowing down the coin counting.
That is also true for CRHers, If you add up the money you spend on gas and add the value of your time (Your hourly wage from work x hours of CRHing)
CRHing doesn't break even.
The business of CRHing is and has been dead.
The hobby of CRHing is alive and well.

+1
The cost for the machines is cost prohibitive for just pulling AG. The machines have been out for years... I have one :-)

 

[maverick]

As I have understood it, the carriers DO NOT own the coins, there for they can not cull anything at all period, this has come up several times over the years. HH, Maverick.