Cashing in coins

[sir]

How do you guys do it? Td bank has long since gotten rid of their machines, I couldn't even try out a box or two of pennies just for kicks.

 

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[sir]

Ha ha cant believe i was on here way back in 07

 

[Megalodon]

Check credit unions in your area for coin machines and eligibility requirements.

 

[silveraddict]

It is just part of the hobby. No coin machines anywhere around me. Banks will only take them if they are rolled.
I do 5-6 boxes a week.
Open one end, pop them out, check for silver, slide them back in then take to dump bank.

 

[scottw]

Casinos are a great resource for converting coin to paper money.
The tough thing for me is getting out the door while retaining possession of the lettice.

 

[blueberra]

How do you guys do it? Td bank has long since gotten rid of their machines, I couldn't even try out a box or two of pennies just for kicks.

I, too, used to be a TD Bank customer and was none too pleased when they made a corporate decision to remove all coin counting machines. I asked why and they said that people were constantly dumping non-coins (washers, screws and the like) into the machines and they were jamming. Plus, and this is the real reason, someone sued them (maybe a class action suit) because he claimed that the machine short-changed him -- apparently, he knew the exact amount he had (around $150) and the machine stiffed him by over a dollar.

Unfortunately for me, I had a safe deposit box with TD Bank and, of course, you needed to have a TD Bank account to rent a safe deposit box.

So I went on line and did some leg work, phone calls, etc. to find a bank near me that had safe deposit boxes for rent AND had coin counting machines that took half dollars (which is what I CRH). It's important to ask because not all coin counting machines will take halves.

Choice of banks is not a problem where I live (between Worcester and Boston, MA) -- seems like there is one on every other corner.

If you could find a small credit union with a coin machine that would probably be best because you could then establish a rapport with the tellers who might offer you more personalized service. I'm not saying that tellers in big chains aren't helpful, but smaller banks just seem more amenable to weird people like coin roll hunters.

So I went with a small bank with a few branches near me. It seems like it took an hour to open a simple savings account (with the leftover funds from my now-closed TD Bank account) due to a boatload of regulatory questions now mandated by the feds. For example, I was asked if I was a frequent flyer and I asked back, "What's the definition of frequent?". I guess if you flew once a month of more often, that made you a frequent flyer.

Fast forward to the first time I needed to dump halves. I go to the main branch and the customer service rep. inside tells me to bring my coins to the teller and she will take them to the coin counting machine in the back (not for customer use). I said I didn't want to burden some frail woman with a bag of halves, so the rep. told me that there was another branch on the next block (!) that had a customer-operated coin counting machine. It was a different machine than I had ever seen before, but, bottom line ... it didn't take halves.

So back to the main office I went. I gave the teller a bag of loose halves (this was not a full box -- only about $250). She took it and then returned in less than a minute with a slip for my halves. I asked her about the machine and she said it was an old machine that had a tendency to break down, so they decided to disallow customer use. She said she just dumped the entire bag into the hopper and away it went.

I'd like to look at the machine some day, just for my own curiosity's sake.

 

[Johnnybravo300]

My bank doesn't even open the box or count anything. They ask me what's in the box and that goes into my account. It's a real specific science I guess haha.

 

[Holt0222]

What bank do you use Johnny.