Has anyone ever tried this... UPDATE: I asked the bank

[Carl-NC]

I live in a small rural town. The local bank (where I do have accounts) has a coin machine inside. You walk in, dump all your coins in the hopper, and it counts what you have and prints a receipt. Take the receipt to the teller, and they give you cash.

I would love to be able to buy these coins and go through them. There is no doubt that people clean out their drawers and a lot of old coins end up in the hopper. Before I ask the bank about this, I wanted to see if anyone else has approached this, and how.

- Carl

 

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[engine 823]

Re: Has anyone ever tried this...

Alot of times the bank will tell you they have "X" amount of halves or what ever it is your looking for in the machine and ask if you want them. Also I have seen banks that empty their coin machine once a month and you can buy them by the bag on that day or the day after. You have to talk to them about this before hand though. They send them back out pretty fast and if you want them you have to have them hold them for you. At least that has been my limited experience.

 

[sandsifter]

Re: Has anyone ever tried this...

I took over $12 in coins ran them through a coin machine in the grocery store. It accepted
all but 3 Penny's and one dime. I tried the Penny's again they were rejected. Uponcloser examination The Penny's were wheat cents, and the dime was silver. They went back in my pocket.

 

[Carl-NC]

I went by the bank today, had a nice chat with the lady in charge of the vault. She told me that the contents of the coin counter are directly picked up by Loomis-Fargo, so it would be difficult for me to buy them. They average several $1000 per day.

But the interesting thing is that the machine is designed to reject silver coins. It reads both conductivity and weight, to ensure foreign coins don't slip through. She knows for a fact that it will not take silver coins. So that makes it less appealing, although it would still be good for hunting errors, which is what I want anyway.

- Carl

 

[Silver_Fox]

But the interesting thing is that the machine is designed to reject silver coins. - Carl

So is Coinstar. See my post, Coinstar silver.
http://forum.treasurenet.com/index.php/topic,135289.0.html

 

[TT]

The Allison Cummins self serve coin counters I have used will accept silver coins. I have not put one in, but another crh'er I know did test this theory.

 

[whitesid]

did you ask if you could buy the silver coins?

 

[Hydrantman]

I'm gonna have to start checking the CoinStar trays!

 

[Smithrow1]

My dump banks machine rejects silver.

 

[waseeker]

My bank still has the older machine that sorts the coins into bags. The tellers pull the bags when they are full and once a week brinks comes by and picks up the bags.

I asked if I could buy the bags, they said yes, so now I go to the bank the day before the brinks run is scheduled and buy the bags. Then I take them to another branch that has the newer hopper only coin counter to dump them.

My tellers have been great, they save rejects for me, and even refer customers to me who have large amounts of coin they are trying to dump.