Expanding Operations...Hoping for 7 boxes tomorrow

[Sleepy Holow]

I'm going to have to completely overhaul my entire system I feel!

Current System:
DumpBank: Dump bank (90% of what I search goes here), many branches, two with public coin counters
Bank A: 1-3 Boxes per week, many branches, one with public coin counter
Bank B: 0.5 Boxes per week, 1 location, no coin counter
CU: no boxes, no coin counters

Find out DumpBank takes all money from coin counters and rerolls them to be sold in boxes again. It's almost like CWR's. Got a box of dimes - found 3 silver in that box. Got me wanting to change my dump bank. Get an account with Bank C, so they can be my new dump. This would push my dump bank from 4 miles to 8 miles from my house. Get to Bank C and the lady offers to order me boxes of halves. I didn't even have to ask! Man, looks like a may have found a new pickup bank...Unsure of what to do now, I went back and talked to DumpBank about switching strategy...Manager says "I'll order you some boxes. How many you want?" I asked which do they prefer, me dumping or me picking up...he says "We can do both!". Man, I'm excited, but confused as to how to work this to my advantage. All these banks want to supply me with boxes now, including my dump bank! The DumpBank manager ordered me 2 boxes of halves (didn't want to get greedy as they have a strict $100 in halves per customer per day policy that he broke right in front of the tellers).

One of Bank B's branches ordered me 4 boxes coming in tomorrow afternoon. Another Bank B branch has them available for pickup (1 per customer per day) starting tomorrow. DumpBank said my 2 boxes will be in tomorrow morning. With the possibility of having 7 boxes tomorrow, I need to get this thing figured out quick.

I know the old rule about never picking up and dumping at the same bank, but the guy said he's cool with me doing both. I would be going through the same coin if he's ordering the boxes from the fed. I'm kinda stuck here...

Option 1:
DumpBank: keep as a dump, and just take advantage of them ordering me boxes. They get me boxes from the Fed and reroll my dumps to be sent out to their branches. All their branches are off limits for pickup.

Option 2:
DumpBank: stop dumping here and take advantage of coin machine rolled box pickups, CRHing operations stop until I secure new site(s) that will allow me to dump the current $500-$1000 (about 4x's a week) that I am currently dumping at DumpBank. This may be difficult as I'm pretty sure I have a good handle for what banks have public coin counters. DumpBank seems to be the best setup for handling large dumps and being cool with it.

Option 3:
you see something this CRHer does not

Thanks for your advice ahead of time! HH Sleepy

 

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[Sleepy Holow]

too much to think about? I'll have to figure something out...

 

[bpt233506]

Do you generally have to be a customer/have an account with a bank for them to sell you halves? I assume you do when it comes with dumping of course. Kinda new here and trying to figure how this stuff works, thanks.

 

[CopperHoarder]

Nice lol stopped by 2 banks on the way home from my welding class both banks said they'd order boxes for me don't even have accounts with them Now I just need to get another 200.00. Or to find someone buying 150lbs of copper cents

 

[UNIVBFan]

Do you generally have to be a customer/have an account with a bank for them to sell you halves? I assume you do when it comes with dumping of course. Kinda new here and trying to figure how this stuff works, thanks.

Same boat here bpt, newbie with questions about having accounts where you dump and pick up. I've been reading quite a bit, and it seems like some people just pick up wherever, while others talk about having accounts and various places. I think it would be awkward to just walk into someplace you don't have an account, but I don't really want to go open a bunch of accounts at places either.

 

[bpt233506]

Same boat here bpt, newbie with questions about having accounts where you dump and pick up. I've been reading quite a bit, and it seems like some people just pick up wherever, while others talk about having accounts and various places. I think it would be awkward to just walk into someplace you don't have an account, but I don't really want to go open a bunch of accounts at places either.

Yeah my thoughts exactly. I'm still trying to figure out what is the customary way to dump searched coins. Cause I donno bout you guys, but boxes of halves aren't exactly cheap and for me to do this with any kind of regularity will require me to dump boxes almost as often as picking up new ones.

Got my first box today and it was a total skunk....

 

[Iamrussell]

Same boat here bpt, newbie with questions about having accounts where you dump and pick up. I've been reading quite a bit, and it seems like some people just pick up wherever, while others talk about having accounts and various places. I think it would be awkward to just walk into someplace you don't have an account, but I don't really want to go open a bunch of accounts at places either.

You have to play with it- for a couple weeks I was ok not having account at banks I was picking up from but it got harder nod harder so I opened accents with 2 different banks- 1 for pickups and orders and the other for dumps- if you want to do this hobby you'll find that the more accnt a you have the easier it'll be- but that still doesn't guarantee that you'll get coins- banks are starting to charge fees for both pick ups and dumping so see what you can find and good luck- HH

 

[bpt233506]

Is there a reason why you cannot just have dump branches and pick up branches from the same Bank? Or is it really beneficial to have dump/pick up branches from different banks also?

I'm also trying to find out how coins get circulated in the banking system. Because if for my instance my bank (BoA) uses some kind of "central distribution center" for coins, I'm wondering whether ordered pick up's and dumps just go in a circle. Like from BoA branch A dumped back to distribution center just delivered to BoA branch B for a box order? If that's the case then there is really no point in doing this anymore lol

 

[sagittarius98]

Is there a reason why you cannot just have dump branches and pick up branches from the same Bank? Or is it really beneficial to have dump/pick up branches from different banks also?

I'm also trying to find out how coins get circulated in the banking system. Because if for my instance my bank (BoA) uses some kind of "central distribution center" for coins, I'm wondering whether ordered pick up's and dumps just go in a circle. Like from BoA branch A dumped back to distribution center just delivered to BoA branch B for a box order? If that's the case then there is really no point in doing this anymore lol

The point of using different banks instead of branches is that most banks will have a contract with one company. This company will service all the branches in the area. By using different banks, you allow for the possibilty another bank will use a different company. Even if you use different branches of a bank, keep in mind that small volume really doesn't affect the supply that much. There are lots of halves around, and there are collections dumped every day. If you searched TimZim's volume, then you should be worried about dumping into your supply, but you would need many banks for that much dumping anyway.

 

[sagittarius98]

I would be going through the same coin if he's ordering the boxes from the fed. I'm kinda stuck here...

He is not ordering boxes from the Fed. The boxes come from coin couriers like Brinks or Loomis. These couriers just recirculate the coin that comes through, though they may order from the Fed during a shortage (those are the boxes of solid 1995s or 2001s).

 

[Sleepy Holow]

He is not ordering boxes from the Fed. The boxes come from coin couriers like Brinks or Loomis. These couriers just recirculate the coin that comes through, though they may order from the Fed during a shortage (those are the boxes of solid 1995s or 2001s).

I did some research a few weeks back and found out how it worked. If you click on the link below, then click on "Brink's Coin Processing" located under "Related Resources", there's a nice little diagram that illustrates the movement of coin. But you're right, as a CRH'r, it is vital to understand how this flow of coin occurs.

Brink's U.S. Services - Coin Processing - Counting, Sorting, Wrapping & Storage