Dump Banks

Dr_Silver · Apr 7, 2017

Hello Fellow CRHs,

Need some input from the veterans out there. I have some questions regarding dump banks. I have been CRH for three years now. I have about ten banks close to me including Sterling National where I order my coins and TD Bank where I dump my coins. All the coins from this area come from Lumis. I am starting to wonder if I am recirculating the same non-silver coins over and over again as I pull the silver ones out.

How do you track your coins to see if you are getting the same ones back?
Do you mark your coins?
Will a dump bank farther away increase my odds of finding silver?
Will it matter anyway, if Lumis seems to service all the local banks?
Will my odds increase if I pick up 4 boxes of halves in one shot versus picking one box up daily for four day?

Thanks,

Dr_Silver

weighit · Apr 7, 2017

You are just making a big circle if Lumis pickes up and delivers. At least I think that is how it works. I always buy coins from Garda and always dump with Loomis, always, never vary in all the years I have been hunting. I have marked coins years ago, $2,000 worth by painting the edges of the dump coins with bright red paint, have never seen one of my marked coins back.

JJDEMARAY · Apr 7, 2017

Find out where another carrier delivers and dump there(may be another city). You may have to call a number of banks to find one that has a different carrier. Some advice, keep a significant amount of money with your dump bank.

You will get your same coins back if you buy and dump from the same carrier.

Good luck.

port ewen ace · Apr 7, 2017

the money pool is an ever changing infinite lifeform. like catching a fish in a lake and expecting to catch the same fish a week later--- ponder this for a minute--- then know there are more coins than people in India-------------- or, you can mark every coin you touch & see how that ends :BangHead:

enamel7 · Apr 7, 2017

Think outside the box. You're not the only one cashing out coins so someone else could be adding silver. Are you still finding silver?

FreeBirdTim · Apr 9, 2017

The only real way to guarantee that you're not just recirculating coins is to keep them all! Can't afford to keep this up much longer, but I'm hoarding every dime I've checked! Going to take me awhile to dump off 32,350 dimes! LOL!

FreeBirdTim · Apr 9, 2017

Correction, make that 38,350 dimes! I forgot about the 6,000 I haven't re-wrapped yet. Yes, I need help! Can't stop looking!

Death&Taxes · Apr 9, 2017

FreeBirdTim said:
The only real way to guarantee that you're not just recirculating coins is to keep them all! Can't afford to keep this up much longer, but I'm hoarding every dime I've checked! Going to take me awhile to dump off 32,350 dimes! LOL!

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Lol that is smart. I wonder what would happen if I kept $100,000 of my searched halves and dumped them in another city, far, far away. Would that make me pull more silver? I've gotta try this sometime.

Dozer D · Apr 9, 2017

Consider using smaller retail business (gas stations, McDonalds, restaurants etc) to make your dime rolled dumps on the things you buy. It's a benefit to you both, dump for you & less buying of coin for them.
I do it quite often. Keep at it, you'll find the right mix.

FreeBirdTim · Apr 10, 2017

Lol that is smart. I wonder what would happen if I kept $100,000 of my searched halves and dumped them in another city, far, far away. Would that make me pull more silver? I've gotta try this sometime

My girlfriend wants to take a road trip to New Hampshire and dump them off up there! She said there's no way she's helping me dump all these dimes off at local banks! Getting embarrassing for her...

LooseChange · Apr 10, 2017

enamel7 said:
. . . Are you still finding silver?

This is the only consideration you should use to determine if you should change up your strategy. Unless you do uber-monster volume, you should more concerned that you are downstream of other hunters than being concerned about being downstream of yourself.

If you are finding silver, stick with the program (actually, expand the program - but don't abandon anything you are doing). If you are not finding keepers, you need to change your supply strategy. NOT your dump strategy!

FreeBirdTim · Apr 10, 2017

LooseChange makes a great point. I typically give a bank $500 worth of dimes to come up with a silver. No silver, move on to another bank. I also find that banks that have foreign coins mixed in usually have silver coins mixed in as well. Not sure why, but that's the way it is at the banks I use.

Dr_Silver · Apr 12, 2017

I am finding silver, but not like the others I'm reading. Everyone other box yields 2-4 silver coins typically 64, proofs, or 40%ers.

enamel7 · Apr 12, 2017

FreeBirdTim said:
LooseChange makes a great point. I typically give a bank $500 worth of dimes to come up with a silver. No silver, move on to another bank. I also find that banks that have foreign coins mixed in usually have silver coins mixed in as well. Not sure why, but that's the way it is at the banks I use.

That's simple. It means they are going through coin counters that don't reject. If they don't reject foreign coins they probably don't reject silver either.

enamel7 · Apr 12, 2017

Dr_Silver said:
I am finding silver, but not like the others I'm reading. Everyone other box yields 2-4 silver coins typically 64, proofs, or 40%ers.

Then you're doing quite well actually. With more volume you would increase your odds of a better box. Mega silver boxes are rare and usually found by high volume searchers. You just have to luck up and find that silver dump when it happens!