Bad news: Rumor Loomis is putting culling units in place

[sheepdog_tx]

From talking with a friendly coin delivery guy he knew exactly why i wanted half boxes and said so does Loomis. Word is branhces are already being installed for comparitors to start culling silver from the coinage. Says they're doing it staggered at branches but its already started in some parts of the country, 3 to 6 months before it gets national. Wasn't sure if halves will be searched too but knows dimes and quarters for sure.

Might be looking at the last year of MWR searching.

 

Amazon Forum Fav 👍

Minelab PRO-FIND 35 Waterproof Pinpointer Metal Detector for Experts with Tone ID & Adjustable Sensitivity - Grab it through Amazon!

[namster]

The reason is because halves have not been replaced with another coin. The Ikes were replaced with Sacs and now the Presidents.

Is that written somewhere as policy? As I see it, two quarters have replaced the halves in modern times.

 

Amazon Forum Fav 👍

Family Maps of Hinds County, Mississippi, Deluxe Edition - Grab it through Amazon!

[Easy]

Is that written somewhere as policy? As I see it, two quarters have replaced the halves in modern times.

My bank told me that the local Starbucks used them which i thought was odd. Casinos use them and yea probably since there has been no replacement.

 

[Wilmingtonsilver]

Is that written somewhere as policy? As I see it, two quarters have replaced the halves in modern times.

I apologize. I should have said, "I believe the reason is..."

 

[Calvin.Coin]

As soon as it becomes economical on a large scale, you can rest assured that all precious metals will be culled from circulation. (That is *if* the CRH'ers leave anything behind, haha)

edited for grammar...

 

[FormerTeller]

Another thing I have often wondered, is why halves have not gone the way of Ikes . I have bagged and tagged Ikes and turned them in to BoA, so they go off into never never land never to be seen by human eyes again. I wonder why the banks collectively still order halves for customers, since they are not actively circulated in commerce. Perhaps we will eventually see this happen, perhaps this is in process now.

My guess is that it's because Ike's aren't minted anymore; halves are.

 

[FormerTeller]

If the coin rolling companies effectively killed the CRH hobby, would they not also be taking a hit on their profit margin since less boxes would be ordered and less bags sold back to the companies? If I understand how their business works, the coin rolling companies make money on both ends of the deal. So not only would them culling silver have to pay for the man hours needed, the equipment upgrades, but also would have to make up the differences going both ways of lost boxes ordered and new bags of coins coming in. Before anyone says that the amount of money charged by the companies is inconsequential, consider that those charges are how they are multi-million ( I dare say billion) dollar companies. Because of that, I am sure that they do extensive surveys to determine if a bank or other outfit is ordering more than a normal amount of coinage in certain denominations. It really wouldn't surprise me if they had a map of their area and could point out where CRHers are.

As an addition, they would also have to determine if the offset in profit from the three factors listed above would be cost effective and provide the needed returns with a dwindling supply of silver in the system. If the companies culled, they would effectively acquire all of the silver inside a year. Which would mean a permanent decrease in the extra boxes ordered for CRHing by that time as well. If the silver were left in the system, realistically, CRHers probably would take a minimum of 10 years (probably longer) to deplete the silver. Would the companies get enough in silver and would the price be high enough in the next year to offset the loss in revenue for the next 10 years or longer?

This is entirely possible. However, it could explain why they're doing it in limited markets (if they are) - to determine profitability.

Again, I have no knowledge that anyone (other than us) are culling silver. I'm just saying it's possible.

 

[namster]

Well....I guess the timzim is not yet installed in my town. Just pulled 3x40s and 1x90 out of a loomis box.

 

[FormerTeller]

Well....I guess the timzim is not yet installed in my town. Just pulled 3x40s and 1x90 out of a loomis box.

Glad to hear it!

Congrats!