Fees

[That Canadian Guy]

Today while on my quest to find some 2012 cents I dropped in at two Scotia bank branches as I was tipped of that a Scotia bank (wasn't told which branch) had 2012 cents. At the first branch I inquired about 2012s to which I was told they didn't so I just got two boxes of circulated cents but apparently there is a $2 fee for getting large amounts of coins at this branch. The teller wasn't very clear as to why there was a fee but it was something along the lines of "it costs money for us to ship out coins and get new coins in ...... customers that don't have accounts.... " and such, other than that the teller was very nice and helpful. Being only $2 I thought alright but I'm not coming back. So I went to a different branch of the same bank and again inquired about 2012s and was told they didn't have them so I just got two boxes of cents for $50 and was on my way. No fee at the second bank and no mention of such.

I just thought I would share and get others thoughts and opinions on this matter.

 

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[Generic_Lad]

I don't pay fees and I wouldn't ever pay fees because by the time you figure in fees, plus gas, plus time, its unlikely you will ever come out ahead unless you get a dream box/bag.

I mean, if I paid $2 a box for everything, I could just go out and buy what I expected to get in the box.

My average is about 1 silver dime per $250 searched (boxes and bags) right now a silver dime is worth about $2, meaning I'd only break even unless I got an abnormally high amount of silver in a box.

For pennies, it doesn't make much sense unless you are hoarding copper because it is unlikely that you'll find enough wheats to break even, my coin shop pays 2 cents for common date wheats, I average about 10-15 a box, thus taking a loss unless, again, I get a huge score.

For nickels, I'd most likely only break even, I average 1 war nickel for about every box and a half I search (and a buffalo about every 4, I'm really not sure why wars/buffaloes are so hard to find for me, I can find lots of the early dates, including 38-42 no problem but lower than average on wars and buffaloes, even dateless ones), so unless I came across an abnormally large amount of wars, I wouldn't even break even.

For quarters there is really no way I'd even break even because my averages are about 1 in $1,500 searched.

For halves, its hit or miss, but since I've been on a skunk streak lately with boxes, it isn't likely that I'd come out ahead.

When it comes down to it if I can either pay to gamble or just spend the money I would be paying on the fees to get a guaranteed coin, I might as well save the time, effort and gas and just go down to my local coin shop and buy the coin I want.

 

[That Canadian Guy]

That was the only time I have ever paid a fee and I don't intend to make a new habit out of it. It was $2 total so I guess $1 per box. Generic Lad I understand and agree with what you are saying but for me crhing is just a hobby to keep me busy and I don't really worry about weather it is worth my time. And at least I don't loose any money on gas because I ride my bike from bank to bank.

 

[BuffaloBoy]

it's all relative...

$27 for a box of pennies is 8% more then the fave value.
$102 for a box of nickels is 2% more then the face value.
$252 for a box of dimes is 0.8% more then fave value.
$502 for a box of quarters is only 0.4% more then the face value.

now my math could be wrong, but the numbers clearly show how fees are relative to the denomination searched.

 

[BillyOceansEleven]

I'd be curious of the specifics of how they apply this fee. If it is $2 flat no matter how much you get I would ask if they would order you several boxes. I know if one of my pickup banks told me they would give me whatever I want for a flat $2 I would be all over that.

It kind of sounds like a individual branch manager is trying to create new policy for their branch, especially if other branches aren't charging the fee. I guess my advice would be to find out what their policy is and see if you can somehow work that in your favor.

 

[Easy]

Ah the dreaded f word. Seems like the is no rhyme or reason as to why some banks want to charge fees. The only. Thing I've noticed so far is that slow branches that don't do much volume seem to be the ones that get upset the most. Also the older tellers.....the young tellers don't even trip. There HAPPY to help you. Older ones throw a hissy fit.

 

[namster]

Also the older tellers.....the young tellers don't even trip. There HAPPY to help you. Older ones throw a hissy fit.

I have noticed this also. My best banks, the lead tellers are in their 20s.

 

[Easy]

I have noticed this also. My best banks, the lead tellers are in their 20s.

Yep!

 

[TimZim]

Yep!

20 to 30 yep!!

 

[ihittheskislopes]

I agree older leads are the worst when they are 20s and 30s I almost never have a problem

 

[Easy]

Shows you how easy working at a bank is. By the time they get older they are so spoiled..

 

[mercury1]

Just say no to fees. Just on principal, I won't pay any fees for any reason. Banks are always looking for ways to make your money theirs. I need it more then they do.

 

[Easy]

Just say no to fees. Just on principal, I won't pay any fees for any reason. Banks are always looking for ways to make your money theirs. I need it more then they do.

As if they haven't made trillions off our money over the years.......now they wanna give an attitude when we ask them to lift a little coin. Kiss my bleeping bleep.

 

[BuffaloBoy]

my bank that orders for me a weekly order has a head teller in her 50's she doesn't like it, but doesn't really care.