WOW!!!!

[tmjones550]

Went in to my local dump bank and the teller thats always nice said a guy that did'nt have an account at the bank said he wanted to turn in $50,000 in half dollars...yes $50,000.That dude is doing some serious hunting but,he IS going to ruin our hobby.This scum bag wants to dump all that at one bank.I can't believe some one would try this.What bank would take in that much?

 

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[TheRockDoc]

Diver Down -

I have a different understanding based on a seminar I went to. A CTR (currency transaction report) is, as you said, mandatory on the depository institution with a deposit of 10 grand or more. An SAR (suspicious activity report) doesn't have a dollar threshhold, and can be filed by the bank when they sense something suspicious about your activity. As far as I know, they do not report on cash withdrawn, only cash or other "cash like" instruments like travelers checks, money orders, etc. The last time I took out a large sum of cash (over 5,000) the bank made me sign off on my being aware of con men, etc.

This is exactly correct, I have done many +$10,000 transactions and for at least the first several times I did, I would ask specificall, "Am I going to get flagged, or anything from the feds/whoever is watching the "+10K" transactions"? The answer was always the same... Nobody is watching, as a teller/banker/etc, anytime there is a transaction amount of over $10K, we have the ability to alert the feds or not, based on our personal judgement about what is or isnt happening. I have been told that over and over again since I started asking...

 

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[TheRockDoc]

You know I would respond with a long drawn out puote like you have but I wont try to compete with what you jad to say with other than this,this reply that you put down thats full of anger and cuss words Is the reason why people are leaving this forum.HH

Hey tmjones550... First of all, I apologize if that came across as "full of anger" and "cusswords" that was not my intent to you my friend. With that being said, I think the reason you feel like that is because you made the original post, and I replied to it, in extreme disagreement. I believe if you take your feelings/emotions out of it, and read the other posts, made by other people who responded to what I said, you will notice, that you are the only one who felt it was "filled w/anger, and cuss-word loaded" In fact, you may even notice that the several people who posted after me, feel EXACTLY the same way I do.... just sayin.

happy hunting everyone.

 

[tmjones550]

You know I would respond with a long drawn out puote like you have but I wont try to compete with what you jad to say with other than this,this reply that you put down thats full of anger and cuss words Is the reason why people are leaving this forum.HH

Hey tmjones550... First of all, I apologize if that came across as "full of anger" and "cusswords" that was not my intent to you my friend. With that being said, I think the reason you feel like that is because you made the original post, and I replied to it, in extreme disagreement. I believe if you take your feelings/emotions out of it, and read the other posts, made by other people who responded to what I said, you will notice, that you are the only one who felt it was "filled w/anger, and cuss-word loaded" In fact, you may even notice that the several people who posted after me, feel EXACTLY the same way I do.... just sayin.

happy hunting everyone.

I think we can agree to disagree,one thing we have to remember is this hobby is fun and when we resort to cussing at others in their posts it does no good . Alot of members have left silmply because of that.My issue was from the get go is that its in very poor taste to go to ONE bank and expect to dump that much coinage.Put the shoe on the other foot.I feel bad sometimes taking in $1000.00 in coinage.Yes it's their job and thats what they are paid to do.But don't you think it would be harder on us hunters to go into a bank trying to find that elusive silver if just five minutes before you walked in and the guy before you dumped an excess amount?Dumping a few thousand dollars at one time aint no big deal.But come on $50,000.And yes thats the TRUTH.The teller may have lied about the amount,but theres no need for me to lie about it.I have read all the comments and yours was hateful.You've apologized.I'm over it.Lets just look at it this way...As with anything things can be abusive and this was the case with this fellow.

 

[SFBayArea]

Diver Down -

I have a different understanding based on a seminar I went to. A CTR (currency transaction report) is, as you said, mandatory on the depository institution with a deposit of 10 grand or more. An SAR (suspicious activity report) doesn't have a dollar threshhold, and can be filed by the bank when they sense something suspicious about your activity. As far as I know, they do not report on cash withdrawn, only cash or other "cash like" instruments like travelers checks, money orders, etc. The last time I took out a large sum of cash (over 5,000) the bank made me sign off on my being aware of con men, etc.

This is exactly correct, I have done many +$10,000 transactions and for at least the first several times I did, I would ask specificall, "Am I going to get flagged, or anything from the feds/whoever is watching the "+10K" transactions"? The answer was always the same... Nobody is watching, as a teller/banker/etc, anytime there is a transaction amount of over $10K, we have the ability to alert the feds or not, based on our personal judgement about what is or isnt happening. I have been told that over and over again since I started asking...

If a more people were depositing or exchanging coins in the name of CRHing. Banks will catch on. They will realize that over zealous CRHing by more and more people will cost them money. After all, it does take time and money for those sorting companies to resort and re-roll all those dumps. The worst if if coins in plastic wraps get dumped and have to be recounted, sorted, and rewrapped. That is a waste since they are still perfectly good in their plastic for merchants. Just adds to additional costs for banks that they don't need. Just saying.. it's better to keep a lower profile and not draw too much attention. Better to spread it around. Pretty soon, the next easiest thing would be for them to charge fees for dumping large quantities of coins.

Just like Frank told Tony Montana in Scarface, those who want it all and don't fly straight, don't last.