Will the banks put us out of business

[kfs]

If the price of silver stay high would it not make sense for banks and/or Coin processing companies to Clear out all the silver.

The heavy duty searchers on this site are just little flying insects to be swatted away compared to what these guys could do and do in an automated fashion.

Gold mining companies move a ton or more of ore to get an oz of gold. At current prices it does not make sense to re-roll silver coins and put them in circulation. I am hopping for a a major drop in the price at least temporarily.

I wish my boxes all had dates on them. It would be interesting to see how currently rolled and boxed halves are producing based a a box that may have been in storage for a year or two.

 

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[PhattyB]

That's exactly what they already do. Haven't you heard the fed, brinks, loomis and garda cull silver?

 

[kfs]

That's exactly what they already do. Haven't you heard the fed, brinks, loomis and garda cull silver?

I have heard people make such comments but the facts, people still finding silver coins would lead me to believe that that is, at least now just talk or their process for removing the silver is very poor in deed.

 

[GEOFF]

this is no business
this is only hobby.

nobody will put us out of hobby.

 

[canaboy123]

fed

FED is short for Federal Reserve System.

 

[jerseyben]

If the price of silver stay high would it not make sense for banks and/or Coin processing companies to Clear out all the silver.

The heavy duty searchers on this site are just little flying insects to be swatted away compared to what these guys could do and do in an automated fashion.

Gold mining companies move a ton or more of ore to get an oz of gold. At current prices it does not make sense to re-roll silver coins and put them in circulation. I am hopping for a a major drop in the price at least temporarily.

I wish my boxes all had dates on them. It would be interesting to see how currently rolled and boxed halves are producing based a a box that may have been in storage for a year or two.

What?

 

[kfs]

What?

Yes!?!?

 

[GarouLady]

I don't know. The government has made it illegal to melt pennies, which to me doesn't make sense. with the price of copper going up, wouldn't it make sense maybe in some roundabout way that the goverment melt down pennies and save the copper?I can't understand why copper is such a go to metal. you really can't do anything with it other then electricity.

Then you have silver and gold, I have only found one dime at a coinstar. Right now I am looking for war nickels and quarters. A lot of people that I try to educate, if they will listen to me, don't realize about the pre1964 rule with quarters. If someone show me their quarter and I know them, I tell them what its worth and if they want to sell it, I direct them to the coin show across the road, a coin show a lot of locals don't know about, and one that has never cheated me and people are more often than not, very happy that I have educated them. On the other hand, I might have planted the seed to take out silver out of my hand.

I still think the bigger banks are a force to be reckoned with, which is why I am sticking with my local credit unions. Yes the pickings have been slim, but more often than not, they are CWR versus MWR.

Sincerely, GarouLady

 

[baddbluff]

The machines in AZ already do it. Ask Gilmore Happy. There is NO SILVER in the boxes there.

 

[kfs]

The machines in AZ already do it. Ask Gilmore Happy. There is NO SILVER in the boxes there.

I saw that post but another guy in Phoniex right after his post about that machine said he has been having pretty good luck. I think he was getting Brinks box also. Not that they are not doing it but why Phoniex, that seems like a strange place to set up such an operation. Personally I would set it up in a very high population region somewhere between Washington and Boston. But what do I know maybe Phoniex has a lot of halves that got into the supply line from the old slot machines in Las Vagas.

 

[ArkieBassMan]

If the price of silver stay high would it not make sense for banks and/or Coin processing companies to Clear out all the silver.

The heavy duty searchers on this site are just little flying insects to be swatted away compared to what these guys could do and do in an automated fashion.

Gold mining companies move a ton or more of ore to get an oz of gold. At current prices it does not make sense to re-roll silver coins and put them in circulation. I am hopping for a a major drop in the price at least temporarily.

I wish my boxes all had dates on them. It would be interesting to see how currently rolled and boxed halves are producing based a a box that may have been in storage for a year or two.

I do believe the banks will eventually kinda put us out of business...but not in the way you describe. If the economy continues to struggle, and I personally believe it will, in an effort to cut as many operating expenses as possible, it is very likely that many banks will see ordering boxes of coin for CRHers as an unneccessary and very avoidable expense.

 

[GlenDronach]

I think it's economies of scale. If they can calculate that culling silver will justify the expense of a new step in the processing, they will. But at the rate most of us are finding it, probably not. Putting in tens of thousands of dollars in equipment and people to double check the sort, and then resell it, just to hope to catch someone's dump, may not be worth it to them.

 

[SilverForBrains]

as usual ArkieBassman is right on point

Also I would think culling the pennies for their copper would be much more profitable due to the sheer amount of copper out there

 

[canaboy123]

as usual ArkieBassman is right on point

Also I would think culling the pennies for their copper would be much more profitable due to the sheer amount of copper out there

You WILL make more using the money that you would tie up hoarding to double your bankroll to look to silver.

 

[sagittarius98]

I do believe the banks will eventually kinda put us out of business...but not in the way you describe. If the economy continues to struggle, and I personally believe it will, in an effort to cut as many operating expenses as possible, it is very likely that many banks will see odering boxes of coin for CRHers as an unneccessary and very avoidable expense.

I don't think they will stop ordering halves, they will just put fees on everyone.

 

[usandthem]

I don't know. The government has made it illegal to melt pennies, which to me doesn't make sense. with the price of copper going up, wouldn't it make sense maybe in some roundabout way that the goverment melt down pennies and save the copper?I can't understand why copper is such a go to metal. you really can't do anything with it other then electricity.

Then you have silver and gold, I have only found one dime at a coinstar. Right now I am looking for war nickels and quarters. A lot of people that I try to educate, if they will listen to me, don't realize about the pre1964 rule with quarters. If someone show me their quarter and I know them, I tell them what its worth and if they want to sell it, I direct them to the coin show across the road, a coin show a lot of locals don't know about, and one that has never cheated me and people are more often than not, very happy that I have educated them. On the other hand, I might have planted the seed to take out silver out of my hand.

I still think the bigger banks are a force to be reckoned with, which is why I am sticking with my local credit unions. Yes the pickings have been slim, but more often than not, they are CWR versus MWR.

Sincerely, GarouLady

Why would you send them tp someone else to buy their silver? You should have made them an offer. Just sayin'.

 

[Gilmore Happy]

I saw that post but another guy in Phoniex right after his post about that machine said he has been having pretty good luck. I think he was getting Brinks box also. Not that they are not doing it but why Phoniex, that seems like a strange place to set up such an operation. Personally I would set it up in a very high population region somewhere between Washington and Boston. But what do I know maybe Phoniex has a lot of halves that got into the supply line from the old slot machines in Las Vagas.

Phoenix is the 6th largest city in the US...lol. You have obviously NEVER been here. What you think it's like Tombstone? lol

Its a perfect place to do it. Everything is newer here

 

[kfs]

Phoenix is the 6th largest city in the US...lol. You have obviously NEVER been here. What you think it's like Tombstone? lol

Its a perfect place to do it. Everything is newer here

Well It has a lot to due with what size the city was before 1969, not today. Your argument would make sense but if you look at the population of Phoenix compared to east coast cities in 1970 well it really does not. Now if you are looking for 2008 clad coins I bet Phoenix ranks right up there with the best cities out there but silver they were not minting silver coins for the public in the 80's 90's, sorry. Their population did not really take off until after silver coins were ended and more importantly half dollar coins were really dropped from public use. Or maybe the mint thought the dry air would preserve the silver coins and shipped them out to Phoenix YES! lol

If you were saying Brinks only operates in Arizona I would agree with you. I see there trucks all the time.
FYI I am not in Arizona

Texas has 3 out of the 10 largest cities in the USA and I would not test such a process in Texas for the exact same reason. The real growth was after silver coins were minted and used.

 

[namster]

There is no silver in circulation, only silver looking decoys put there by Solyndra (yeah, thats right, the solar thing was only a cover). Obama is secretly using silver to finance his escape from the planet in January.

 

[kfs]

Everything is newer here

Thanks for making my point so clear.
Perfect reason not to use Phoenix