Coin vendors having short supplies

[Dozer D]

I'm thinking that coin processors are in short supply of coinage lately.
First, I noticed the other day 12/19 when I got two boxes of dimes from one branch, both of which were dated just two days earlier 12/17. Coincidence, maybe, but even one of my other branch banks that I provide rolled dimes , asked me if I roll coins other than dimes, only because she said it's getting hard to keep supplies of other coin denom in the vault. However, if this shortage being present, may give reason for banks to refuse providing us CRH's boxes of coinage.
Your comments, is this a real shortage? Anyone else seeing the same going on?

 

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[Coincrazed]

I think, plain and simple, the increased volume of hunters all over is going to force banks to adopt policies to curb people from participating in the hobby. Quite frankly, there's many multiples of people hunting than there was even 5 years ago.

If 6 account holders at one branch, for instance, want to order 4 boxes of halves, that's 24 they will have to keep in the vault. They have a limit to how much coin they can have on hand.

Back when this hobby was less publicized, it wasn't a problem.

The real death of this hobby is when banks refuse to be a part of it. Sooner or later, it will happen.


ETA: Another thing too, cash and change is being used less and less in commerce. This makes it so that banks no longer need to keep much cash and coin on hand, and thus, less coin is needed to be processed at any given point in time. So the vendors I would imagine aren't processing nearly as much coin as they used to. This will drive higher courier costs because of less need for the service, thus, making banks order less and keep less on hand. Aside from it simply not being necessary.

 

[Megalodon]

I agree that we have the capacity to be our own worst enemies. But we can also curb our habits in a way that we minimize our impact on the banks - both the pick-up banks and the dump banks. Right now, I'm the only one ordering halves at my bank and although they say they will order any number I want, and I could easily go through more boxes, I limit my standing order to two boxes each week because I don't want to be a pest. I do the same with a branch of the bank 20 miles away. I think some of us operate on a code of ethics of our own with CRH, such as don't dump at the pick-up bank, etc. Perhaps the time has come to draft a code of ethics as a sort of living document that can be updated as needed - similar to metal detecting code of ethics such as get permission, fill holes, remove trash, etc.

 

[fistfulladirt]

Why are there so many hunters now, compared to seven years ago when silver was twice the price it is today?
YouTube? Well, it’s been around for at least 12 years, so...?

 

[port ewen ace]

tellers say retailers are snagging high amounts of coin for the shopping season--- so takes whats ya kin git-- it's not the quantity--- only takes a few winners

 

[Scott (Mich)]

A few minutes ago I picked up a box of nickels, and wanted to also get a box of cents, but was told that the local businesses cleaned the bank out of all of their cents.

Typically I just get a few dollars of nickels a week, but since last year during Christmas break I go a nickel box, I decided to do the same this year. I thought I would finally try pennies too, well, maybe I'll try a different bank branch after work.

But back to the observations about banks and coins at this time of year. More people may be cashing them in, but this is offset I think by businesses needing more change because of more customers shopping. We just got to get in at the right time and place to snag the old coins brought in before they go back out again.

Happy Hunting All.

 

[Ben Cartwright SASS]

I think coincrazed is correct, sometime soon most banks are going to shut down CRHing. I have a couple banks that will not order any type of coins and was told at a third bank that the boxes they have are ONLY for business accounts.

I think we will see that Youtube videos telling how you can get rich causing uneducated people to CRH will kill the hobby sooner rather than later.

 

[Icewing]

I just think it's funny how you guys continually pass the blame onto everyone else (IE- YouTube). The reality is, there aren't enough YouTubers to legitimately blame them, and most people who see a few videos and decide to give it a go will quickly give up when they realize how many coins they have to search.

The facts are these: It's the hardcore CRH's who hurt the hobby most by ordering thousands of dollars worth of coins on a regular basis which have to be shipped via armored vehicles, then turning around and dumping 99.9% in one place (free of charge) which have to be shipped back via armored truck to where someone in a designated facility has to run them through an expensive machine that counts a rolls them, so another CRH can repeat the cycle all in hopes that one or two silvers (or whatever) from an old guy coin jar gets mixed in. And the more time that passes (since 1964) the less silvers there are to be found and the more coins you have to search to find one.

That's a lot of transportation costs and people who have to be paid along the way, and the corporations who own these banks will do anything to cut operating costs, starting with limiting bulk coin orders to businesses.

If CRH would stick to just doing it as a hobby a few rolls (not boxes) at a time, this problem wouldn't exist.

That's just how I see it.
Good luck.

 

[Megalodon]

My bank told me they could sell me rolls of cents, nickels, dimes and quarters if they could spare them. But they also told me that they don't stock rolls of halves because their commercial accounts don't use them, and they suggested ordering boxes for me. I asked if they would incur any additional cost to do that, and they said no, the boxes of halves would come with the regular orders once per week with the lower denominations. They also said they would be happy to order any number of boxes for me. Despite that assurance, i limit my standing order to two boxes per week. It does help to be a good customer, buy CDs, take out mortgage, HE and car loans, etc.

IMO, dumping large volumes of coins at the dump banks is a greater problem. I try to spread out my dumping as much as possible. I also feed the machines gently, rather than dumping all the coins in at once and risk damaging the machine. When damaged, the banks incur repair costs. With enough repairs, any business would be wise to assess continuing a free service with that equipment.

 

[CJ9]

I never order boxes. Being in the NYC area there are a lot of banks within a short distance so I don't really need to get boxes. What I typically do is go in and get $40-$70 worth of rolls (dimes, nickels, and pennies) at 3-4 banks at a time and also ask for and halves of large $1s. This way the bank is not giving me boxes that they need for commercial customers, and when i dump, it it max $200 at a time, which is not that difficult for them to handle. This only works in areas where there are alot of banks - in more rural areas I think you have to go with boxes. Also, since TD Bank took out the counting machines a few years back, there are no banks in my area with counters - so I really cant dump large volumes of coins, especially halves at once. When I get halves, I usually just spend the ones I don't want over time. If i roll them back up I will only roll up like $20 or $40 at once and dump them with the other coins.

 

[Ben Cartwright SASS]

Rolls of halves, I got some customer wrapped rolls a year ago, they are as rare as unicorns around here. the smaller denomiations they are there all the time and the bank is happy to give them out, but if you want halves you have to settle for 2-3 rolls a year! It is boxes or nothing. This year I did 34 boxes in 15 orders that is about 2 boxes every 3 weeks on average and I use 3-4 different banks so most banks only ordered me 8 boxes during the year.
Yes there are people who do 4 or 5 boxes a week and that may hurt the hobby, I also spread my dumps over 15 different banks and limit myself to a coffee can per dump, small cans are about $180 and large about $380 and only hit a dump bank once a month or less.

If I had to drive the same 3600 miles to get 3 rolls a year I would be better off buying gold Eagles with the $600 worth of gas

 

[CJ9]

Yeah cwr halves are not common around here as well. It is really hit or miss. Between the weekend and this morning i went to 10 banks or so and the only thing I got was $4 of loose halves. Merry christmas

 

[Megalodon]

I only dump at 2 banks, but use several different branches, the two most distant being 30 and 44 miles away. But I hate to waste gas, so I do something else on the way to or way back from the dump bank. I believe that beach hunters dump their modern coins at the most local branches because I have found small Miocene fossil shark teeth in the reject trays, the largest being an extinct Hemipristis aka "snaggletooth", about 5/8". I'm guessing the beach hunters pick up the occasional fossil teeth and toss them in their pouch along with modern coins. Then the contents get tossed in the coin machine and we find the 10-15M year old fossils in the reject tray. I give them to the tellers who have not found them at the beach along with some tips and spots where they can go to find them in the wild.
Our coffee comes in bags now, so I use plastic grated romano cheese containers that have a molded handle area. They hold $250 each of halves.
My tellers never have loose halves or CWR, so I have never gotten any. One told me she had a large dollar coin in her tray for weeks and finally gave it away the day before I asked.

 

[Ben Cartwright SASS]

My coffee still comes in cans because I buy the cheapest stuff I can find. ROFL

 

[Megalodon]

My coffee still comes in cans because I buy the cheapest stuff I can find. ROFL

Our Harris Teeter stores often have their own brand on sale at "buy 2, get 3 free" which is a steal. I get their Kona blend. I've had better single-plantation Kona but nothing near this price.

 

[enamel7]

Pea is correct. The retailers have been grabbing the coin since Thanksgiving for business. Add the fact that with a robust economy people are starting to hang onto there change again for a rainy day. I've got a bank that will take all the rolls of cents I can bring them!

 

[silveraddict]

I just think it's funny how you guys continually pass the blame onto everyone else (IE- YouTube). The reality is, there aren't enough YouTubers to legitimately blame them, and most people who see a few videos and decide to give it a go will quickly give up when they realize how many coins they have to search.

The facts are these: It's the hardcore CRH's who hurt the hobby most by ordering thousands of dollars worth of coins on a regular basis which have to be shipped via armored vehicles, then turning around and dumping 99.9% in one place (free of charge) which have to be shipped back via armored truck to where someone in a designated facility has to run them through an expensive machine that counts a rolls them, so another CRH can repeat the cycle all in hopes that one or two silvers (or whatever) from an old guy coin jar gets mixed in. And the more time that passes (since 1964) the less silvers there are to be found and the more coins you have to search to find one.

That's a lot of transportation costs and people who have to be paid along the way, and the corporations who own these banks will do anything to cut operating costs, starting with limiting bulk coin orders to businesses.

If CRH would stick to just doing it as a hobby a few rolls (not boxes) at a time, this problem wouldn't exist.

That's just how I see it.
Good luck.

This is ridiculous!!
I do 5+ boxes of halves a week.
I go out bank hopping maybe 3 times a month. Between teller tray and CRW I may find $100+ each time.
This year's total is right around 1000 silver halves.
I may do more boxes next year.
This is a fun hobby

 

[Ben Cartwright SASS]

This is ridiculous!!
I do 5+ boxes of halves a week.
I go out bank hopping maybe 3 times a month. Between teller tray and CRW I may find $100+ each time.
This year's total is right around 1000 silver halves.
I may do more boxes next year.
This is a fun hobby

Silver Addict
Your totals seems about right to me. I am not hard core but one of my banks, my main pickup bank, actually called me to ask if I wanted to order a couple boxes of halves this week since I hadn't called. I have a $100 account there since that is their minimum balance to avoid bank fees on an account.

back to your post.

I have been doing 2 boxes every so often, when I can remember or have the time from my other hobbies, and a couple bags. I found 204 40% and 58 90% halves from a total of 36 boxes and 2 bags, 8 CWR and 678 loose halves. Considering that my boxes were 13% of the ones you searched but my finds were 25% of what you found I did pretty good. BUT that was due to 3 large scores, 2 in boxes and one in a bag. I would rather be lucky than good.
I also NEVER take coins back to a bank where I get them.. I have 15 banks with coin counters and try to only dump at a bank $400 every 3-4 weeks.

Here are my 3 scores.

 

[silveraddict]

Silver Addict
Your totals seems about right to me. I am not hard core but one of my banks, my main pickup bank, actually called me to ask if I wanted to order a couple boxes of halves this week since I hadn't called. I have a $100 account there since that is their minimum balance to avoid bank fees on an account.

back to your post.

I have been doing 2 boxes every so often, when I can remember or have the time from my other hobbies, and a couple bags. I found 204 40% and 58 90% halves from a total of 36 boxes and 2 bags, 8 CWR and 678 loose halves. Considering that my boxes were 13% of the ones you searched but my finds were 25% of what you found I did pretty good. BUT that was due to 3 large scores, 2 in boxes and one in a bag. I would rather be lucky than good.
I also NEVER take coins back to a bank where I get them.. I have 15 banks with coin counters and try to only dump at a bank $400 every 3-4 weeks.

Here are my 3 scores.

Ben, CONGRATS sounds like you did very well in 2018.
This whole hobby is about luck. I don't think you can be good at this hobby. You are always at the mercy of being in the right place at the right time. And, the right box just happens to be the one you got.
My 40% to 90% ratio should be pretty good this year due to my one great score last January. 10 solid 90% CWR at one of my regular banks. I will never forget my son's reaction as he was opening them while we were driving away from that bank.
To claim that bigger CRH'S are ruining the hobby is like saying a guy that fishes more than you is ruining fishing.
I know that fish reproduce but I know also that there are still new collection dumps happening.
It us still out there.
Maybe it will dry up some day. But, until then I am going to hunt and stack as much as I can.

 

[Megalodon]

I agree that luck is the major component to CRH results. But luck notwithstanding, I, and I assume, some other posters, hope that we are not CRHing within your search area.

I could easily search more boxes, but the dump banks are my limiting factor and I hate to jeopardize the dump opportunity by exceeding some dumping etiquette, so I have limited my dumps to $300 to $500 per bank/week. I have four banks and none accept rolls of halves.