Dumping hard times,

[TimZim]

Well my dump bank fell apart am trying to get it set up its pretty hard. My step son is helping am still doing 50 boxes aweek plus no matter what happens. My large dumps over $10.000 and cash out did it.

 

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[ArkieBassMan]

Even if you get cut completely off at some point TZ, you got to search more boxes in a short time than most of us will in a lifetime.

 

[crhstreetwalker]

Maybe if you don't give those poor fellows at Wells Fargo such a hard time, they would let you dump as much as you want!

 

[maverick]

Ouch, sorry to hear that there bud. We should talk soon! HH, Maverick.

 

[cooper36]

Sorry TZ hope it all works out for you.

 

[FormerTeller]

My large dumps over $10.000 and cash out did it.

How do you avoid having to fill out Form 8300 for the over $10k deposits?

 

[FloridaFinder]

It appears WF in my area does their own coin service for certain coins. One branch told me on Sat. that their coin service "won't accept half dollars" from their branch anymore. Sounds like a made up line (L-I-E) since other branches accept them. Sorry to hear that and it seems to be one of the toughest parts of CRHing, especially with volume CHRing.

 

[CoinFetcher]

time is the 1% CRHer.

he searches more coin that the 99%

 

[thripp]

Dumping is my problem too, could do a lot more if I could flip the coins faster and more easily!

 

[AdDicted2Ag]

Well my dump bank fell apart am trying to get it set up its pretty hard. My step son is helping am still doing 50 boxes aweek plus no matter what happens. My large dumps over $10.000 and cash out did it.

Sorry to hear it Tim, but dumping 10k at one branch is way way to much.. If you find a new bank to use, you are going to have to spread it out much more or you will get cut off from there too. What kind of incentive could you ever give to a bank that they would allow you to so that? I could only see it if you are keeping large amounts of money in your account.. Like hundreds of thousands if not millions of dollars.. That is an insane amount of work and money loss you are creating for them.. Hope it works out for you

 

[bigscores]

They pay $2.50 per bag, on average, to have the coin "verified" (AKA weighed) by the armored companies, from what I've been told.

CRH'ing is kind of like the night sky... you have individuals like Tim, who burn bright and fast, like a shooting star, and then burn out because they don't keep the costs manageable for banks.... Then you have those individuals that do 5-10 boxes or less a week and can keep at it for years upon years, like a regular star...

I, for one, am going to let it burn, then switch things up and go back to being a low volume hunter, unless I can work a new dumping solution out, that I won't talk about here because I don't want people ruining that.

 

[thripp]

But Tim has been doing this for a long time right? He did over $1.2 million last year.

 

[MentalUnrest]

Did I read it correctly that you drop 10k at a time? Sorry to hear your facing a tough time but that is a insane amount to drop on one bank. Maybe you had some communication with them and had an arrangement? If not, I am surprised they did not cut you off long ago.

I drop about 35K per week and never drop more than 3K at one bank. I only drop that amount at 2 banks because they have given me the ok. All other banks are 1k drops. You have to spread it out and although it does take time and gas, you will not be cut off for 1k drops. I also will never drop at the same bank more than 1 time a week.

MU

 

[bigscores]

But Tim has been doing this for a long time right? He did over $1.2 million last year.

I know somebody who has been at it 20+ years.

 

[thripp]

I drop about 35K per week and never drop more than 3K at one bank. I only drop that amount at 2 banks because they have given me the ok. All other banks are 1k drops. You have to spread it out and although it does take time and gas, you will not be cut off for 1k drops. I also will never drop at the same bank more than 1 time a week.

MU

I have gotten cut off for weekly 1k dumps of rolled halves. I have even been cut off at a whole chain of banks since they put a note on my account not to accept any rolled coins from me. You can get cut off dumping any amount. You may as well go big while you can since they are going to cut you off eventually anyway...

 

[AdDicted2Ag]

I have gotten cut off for weekly 1k dumps of rolled halves. I have even been cut off at a whole chain of banks since they put a note on my account not to accept any rolled coins from me. You can get cut off dumping any amount. You may as well go big while you can since they are going to cut you off eventually anyway...

If you were dumping 6k at a time at those banks, do you really think they would have allowed you to dump for as long as you did without getting cut off? IMO the more you dump consistently, the higher the odds are of getting cut off.. You have to spread it out.. Even if a bank would give me the ok to dump that much, I would never ever do it.. You are putting a big red flag on yourself from the get go

 

[maverick]

Did I read it correctly that you drop 10k at a time? Sorry to hear your facing a tough time but that is a insane amount to drop on one bank. Maybe you had some communication with them and had an arrangement? If not, I am surprised they did not cut you off long ago.

I drop about 35K per week and never drop more than 3K at one bank. I only drop that amount at 2 banks because they have given me the ok. All other banks are 1k drops. You have to spread it out and although it does take time and gas, you will not be cut off for 1k drops. I also will never drop at the same bank more than 1 time a week.

MU

I am smal time compared to some on here, but do the same as you MU, never more than a 1000 at each branch once a week and have even been giving them a week break after 2 drops in a row. Bags will be 2 to 4 at a time with 500 in each and that was worked out ahead of time with them. I have a high stake in my dump bank though with Mortgage, IRAs, savings, checking( same account for 25 yrs now) and my children's accounts too. If you are not holding something big with your dump bank that they can see when they pull up your account, you are just costing them money. Some will open an account with a couple of grand to start dumping in them and it will be short lived. I also didn't start dumping 1000 a week for months until relationships were established well with the vault tellers at each branch. I know Tim as enough money to deposit to have a good stake in his dump banks but some others this is happening to don't and in the end will be cut off. Slow and steady is the key! I only search 12to 16 boxes a week and do really good with that amount. Leave getting the 20+ skunks outta the way for the high volume people in my area I say. HH, Maverick.

 

[maverick]

I'll also add that I deal with about 15 different branches to dump at, for those who try and do it with 2-3 branches close to them, not gonna work. Alot of driving, time and gas is required in this hobby, I can easliy drive an hour or 2 just to pickup a couple of boxes and dump somewhere, and this is just to make my little bit off box searching I do work and keep the banks from hating me when they see me. it is alot of work and not an easy hobby for sure. HH, Maverick.

 

[thripp]

If you were dumping 6k at a time at those banks, do you really think they would have allowed you to dump for as long as you did without getting cut off? IMO the more you dump consistently, the higher the odds are of getting cut off.. You have to spread it out.. Even if a bank would give me the ok to dump that much, I would never ever do it.. You are putting a big red flag on yourself from the get go

I didn't dump more than 12k total at that bank so if I did 6k a week for 2 weeks that would have been even better since it would have been fewer stops and less driving!

 

[GarouLady]

10,000 a week? Ouch!! I don't do that kinda volume but my dump bank doesn't charge no matter the amount I bring in. I haven't tried returning a massive amount of money but they don't charge 50 cents for every 100 dumped like my credit union now charges. My problem isn't volume at the moment, it's the lifting all that coin that's the problem. I have around 400 bucks in nickels and man my bad shoulder loves to remind me every time. I love my dumping bank. Never gave me problems yet.

Sincerely, garoulady