Do Bank Locations Matter?

[DaChief]

Hey Folks,

I just found this subject matter area and remember that when my uncle was an insurance salesman, he would always come home with lots of old coins. He sold insurance in poorer areas of town and for whatever reason, those folks would make sure that their insurance didn't lapse even if it meant digging into their stash of old money to pay. I guess back then, insurance accounts were more like investments than the mostly term stuff out today.

Back to the subject and how it fits in here. Are banks in poorer areas of town likely to have more old coins due to the need of struggling people to cash in what grandma and grandpa may have left them or is this an non issue?

Thanks,

Da Chief

 

[ivan salis]

yes---- folks in poor areas try to "save" money (often its in change or its silver coins to sale for hardship money) thus its not in a bank account --- but rather just "kept" put up ---also in high crime areas (dope selling areas)--- where drugs tend to trade hands hard up dope head type folks will rip off grammy's stash or gramps coin collection to get some dope and get "the monkey" off their back and it goes thru the dope dealers hand to the bank to get made into "paper or folding" money --- Ivan

 

[jewelerdave]

If your ordering boxes it does not matter at all. Likewise people bring in stuff all the time.
For example, a few weeks ago at a brand spanking new credit union in the middle of a modern commercial corporate district I checked to see if they had any rolls, $60 worth, got em and I found walkers and bens in them and the normal kens. The place had only been open for 4 months.
Fact is, it does not matter where. They can be anywhere. be deposited by anyone, all it takes is someone finding old rolls and just depositing them somewhere, or a jar of change taken in and bagged and rolled etc.

I have had great finds in out of the way locations as well as great finds in banks just a couple blocks away. I have also had bad results with both. fact is is random. The only thing that always right is volume, the more you hunt the more likely you are to find something, also, keep in mind there are no magical sources, no better or worse banks, The best way to up your odds is by asking the right questions and being persistent and looking though volume. Also, banks send in stuff when they have too much. or send boxes back if they dont need them.

Poor or rich areas dont matter when it comes to drugs and drug money either. A poor kid or rich kid will both steal to feed an addiction, the myth that only poor kids do drugs is one that is driven by propaganda and swallowed by people who cant believe that something like "whatever bad" can happen in there town or neighbor hood. keep in mind that better off families have much more to lose to a kid or family member with an addiction than a poor one. The poorer one just has to take it from others outside the family.
Think about it, who has a bigger pool to pull from to feed an addiction? The worse off person working to try to make it by or the spoiled screwed up better off guy who has had everything given too them, bored out of there mind and WOW look! Drugs make me feel better. Crap, I need more...and more...and more...and more. how will I fund this. Wait, dad has like $50 grand in coins down stairs. he wont notice a few gone. And I need it now!
Likewise dealers and going to follow the money, whats a better market. inner city crack whores who dont have more than a mouth to offer for drugs or middle class and upper class suburban kids who have access to money, valuable things, and also time on there hands to follow hobbies that consist of drug use, sex, vandalism of property heavy drinking of there mothers liquor stash and so forth to rebel against a system where money is there, but a parental structure where working and never seeing there kids and working to keep up with the Jones and where social structure and supervision is not. Whats the easy escape besides drinking, what sounds fun and safe. Duh, drugs.

Even worse about it is the total lack of education about drugs there is. Most are told that one try of pot will turn you into a raging psycho. Kids try it, its not that bad, nothing really bad happens at all, well they must have been lying about other things too. So usher in meth cocaine and things that will change people and make them into something not desired at all. In go the drugs, out goes the teeth and brain, and once the drugs are out too...at any cost, not matter what...you just want more...more...more... this is what makes them so scary, they dont do much at all too you from people I have talked too, but no matter what, they gotta have more at any cost.
A truly disgusting sight to watch happen to people first hand. And they dont even realize whats happening too them.

Anyway,

 

[GMan00001]

Yes. Bank locations do matter some. It is not the end all be all, but certain locations will do better than others. In my opinion, the best locations are in neighborhoods where the general population is older and tending toward poorer. I have had a couple tellers that have worked at banks in that kind of environment tell me that they would find old coins all the time in this branch or that branch, but hardly find any now (in semi modern suburbia).

The reason I think those locations are better is older folks tend to have higher tendency to cash in saved coins. The basic reasons: paid face value for the coins, many are on a fixed income, or the coin collector dies and spouse/children are ignorant (or don't care) and cash them in.


In summary, old coins can be found anywhere, but percentages do increase in certain banks/areas.

 

[ivan salis]

no drugs are used by all groups and types from the rich bored kids --to the mddle class "latch key" kid who parents both work try to keep up with the bills and save for old age --- to the poor down and out folks --- drugs sucks the money and life right out of all of them --- the upper class kids have money most of the time but are well known to rip off granny's or gramps coin collection's --- the middle class adults often save loose change in big gallon or 5 gallon jars (these get raided by them when the need hits) ---the poor often rob their elders for drug money also ---stealing old silver --that the old folks stashed away for "hard times" money --often the older folks lay up the silver coins only to have the young dopersof all groups rip them off or when the old folks die the greedy nitwits take the collection to the bank for "easy to carry " paper money and turn it in for "face" value. find some banks in a area lots old folks , poor folks and drugs (their often the same area* ) and your lible to find great rolls --- esp if you hit one that just "cashed in a stash" like the ones above.

 

[cyberdan]

My best banks are Korean banks. Korean people tend to only do business with other Koreans. No melting pot here. Korean banks are only in better neighborhoods with a high Korean population.

That said, many Koreans are business men that own retail businesses in poorer neighborhoods. Liquer stores being the #1 business. A long time friend of mine (Korean) has owned two liquer stores and a coin laundry. As stated above poorer neighborhoods produce more older coins. Somehow Korean banks always have a lot of halves and big dollars. (that is where I got my silver round and Morgan dollar) I always find silver in those halves. The tellers are always so friendly and helpful.

Now don't get me started on Chinese banks. All I can say is RUDE & STUCK UP!

 

[THEDUKE]

My best banks are Korean banks. Korean people tend to only do business with other Koreans. No melting pot here. Korean banks are only in better neighborhoods with a high Korean population.

That said, many Koreans are business men that own retail businesses in poorer neighborhoods. Liquer stores being the #1 business. A long time friend of mine (Korean) has owned two liquer stores and a coin laundry. As stated above poorer neighborhoods produce more older coins. Somehow Korean banks always have a lot of halves and big dollars. (that is where I got my silver round and Morgan dollar) I always find silver in those halves. The tellers are always so friendly and helpful.

Now don't get me started on Chinese banks. All I can say is RUDE & STUCK UP!

That is a good way to look at it.
never thought of it that way

 

[fiatboy]

Somehow Korean banks always have a lot of halves and big dollars.

I've noticed this as well.

And fwiw, I've never been skunked while CRHing in really really bad parts of town. Silver aplenty, just be careful.

 

[ivan salis]

like all thing went treasure hunting go to where the odds are best ( yes the location of any treasure hunt matters be it a shipwreck or a coin roll bank ---old small time banks many have crusty old halfs laying around just wanting on you --- if your looking for food go to a store not the middle of a freeway ---so "think" about what your looking for and where you might have better odds of finging it --- lots of folks don't think these days ---makes for easy picking for those that do. --- Ivan