Dumping unwanted coins

[rickjr]

New to CRHing. When dumping coins you obviously don't go the banks where you got the coins, I know when I have cashed in rolled coins in the past from loose change laying around my bank required my acct # to be on the rolls. How do you get rid of them without an acct at the banks?

 

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[jnb1994]

New to CRHing. When dumping coins you obviously don't go the banks where you got the coins, I know when I have cashed in rolled coins in the past from loose change laying around my bank required my acct # to be on the rolls. How do you get rid of them without an acct at the banks?

I would reccomend opening up an account with a bank that has a coin machine and just keep like 10 bucks in there. It'll make things so much easier for you and the banks.

 

[kontrapunktus1750]

I would reccomend opening up an account with a bank that has a coin machine and just keep like 10 bucks in there.

Out here, there are no coin machines, and $10 in an account of any sort will last you a little more than three weeks--$15 monthly service charges abound.

 

[jnb1994]

Out here, there are no coin machines, and $10 in an account of any sort will last you a little more than three weeks--$15 monthly service charges abound.

Hmm... well that stinks. Most banks here in NY have coin machines which are free for account holders and a bunch of them have free accounts with low minimum balances, if any. Maybe thats just because I'm a student though.

 

[sack0silver]

Research all major banks that have branches within driving distance. Also check out some credit unions as well. Hit the phones!

 

[jkoski]

Hello rickjr,
Look into some of the big supermarkets for coin sorting machines.
They will charge you a small fee. But a good place to unload.
Good Luck

 

[BCD11]

You might consider Coinstar's certificates, or whatever they're called. If you take them instead of cash there is nothing taken out of your hide in the form of fees. These work really good if there is a grocery store you normally shop at AND it is in the Coinstar program.


I know it's going against one of the sacred rules of CRH'ing BUT, don't just assume dumping coins at the bank you get them is bad. If your bank is serviced by Brinks your dumped coins most likely go to a central counting/processing center and are combined with coins from other Brinks customers. I have faithfuly marked every half dollar out of the $1000 I sort weekly and have not seen one of my halves again. Granted, $1000 is a drop in the bucket compared to some on this site and they would be more likely to get their dumps because of the increased volume. It's been the same story for pennies. I DON'T mark pennies but I consistently average 28% in high copper cents from the bank and CU where I get and dump coins. If I were getting my own pennies the % high coppers should start dropping off and it hasn't.


Maybe it's luck, territory, huge Brinks business in this area, or whatever. All I know is my %'s are darn near the same as the first batch of coins I sorted, before any dumps. I'm not saying this is universal. There might be some areas where you will get your own coins again but, I know that is not universal either.

Sack0silver's suggestion of letting your fingers do the walking is excellent. The telephone will save you a ton of time and might turn up some good banks/CU's.


Welcome to this addiction, it only gets worse.


GOOD LUCK!

 

[BuffaloBoy]

coin counters do not require your account number to be written on the rolls, but some might require your account number to be written on each and every coin...

Just joking on the writing on each coin part though