How much is too much?

[BullionBaron]

After hearing all the recent talk of people getting cut off by supply banks I'm starting to feel a little nervous. I'll admit I've been a little greedy lately and ordering 2k at a time from multiple branches. Typically 10 boxes cents, 1 dime, 1 quarter, 2 halves. I used to be able to go in the vault and do the lifting myself, which would quell my feelings of being a nuisance. But now the tellers are having to do it.

So the question is.......what size orders are y'all making?

Thanks for your input

 

Amazon Forum Fav 👍

Diving for Pleasure and Treasure - Grab it through Amazon!

[cdickrun64]

2 boxes of halves per week.

 

[ArkieBassMan]

For the most part I do not think CRHers ordering too many boxes are to blame - most of the time - when banks "cut off" other CRHers and/or begin to impose fees for buying or dumping. Banks and coin courier services are just "feeling the pinch" of this horrible economy just like everyone else. People aren't/can't borrow(ing) like they were a few years ago, and the banks' profits are dwindling. The banks are looking to regain those lost profits any way they can. Many are beginning to "nickel-and-dime" their customers. Services that used to be free aren't anymore. For example, many banks that used to have free checking now do not, or at least have raised/instituted a minimum balance requirement to avoid monthly fees. It is my understanding that some coin courier services in some areas (Loomis for sure, others I don't know) have increased their fees to the banks mainly due to higher fuel costs. So, banks are also looking to reduce internal costs. This would include everything from cutting back on office supplies to ordering no more rolled coin than is absolutely necessary to keep costs as low as possible. In short, CRHers didn't cause the problem, the economy did. CRHers just got caught up in the crossfire.

With that said, so far I have had absolutely no problem ordering or dumping. I currently only get 4 boxes of halves a week (along with an occasional few boxes of dimes, nickels, and pennies), but I don't think I would have any resistance (yet anyway) if I wanted to order 100 boxes. If the boxes here produced better, I would be ordering about 20 a week.

My advice would be to order as many boxes as you can handle while you still can. If your order bank is going to "cut you off" in the future, they're going to whether you get 1 box or 20. I say get what you can while you can. The day may be coming when you no longer can get anything, and you'll wish you had done more volume while you still could.

 

[BullionBaron]

For the most part I do not think CRHers ordering too many boxes are to blame - most of the time - when banks "cut off" other CRHers and/or begin to impose fees for buying or dumping. Banks and coin courier services are just "feeling the pinch" of this horrible economy just like everyone else. People aren't/can't borrow(ing) like they were a few years ago, and the banks' profits are dwindling. The banks are looking to regain those lost profits any way they can. Many are beginning to "nickel-and-dime" their customers. Services that used to be free aren't anymore. For example, many banks that used to have free checking now do not, or at least have raised/instituted a minimum balance requirement to avoid monthly fees. It is my understanding that some coin courier services in some areas (Loomis for sure, others I don't know) have increased their fees to the banks mainly due to higher fuel costs. So, banks are also looking to reduce internal costs. This would include everything from cutting back on office supplies to ordering no more rolled coin than is absolutely necessary to keep costs as low as possible. In short, CRHers didn't cause the problem, the economy did. CRHers just got caught up in the crossfire.

With that said, so far I have had absolutely no problem ordering or dumping. I currently only get 4 boxes of halves a week (along with an occasional few boxes of dimes, nickels, and pennies), but I don't think I would have any resistance (yet anyway) if I wanted to order 100 boxes. If the boxes here produced better, I would be ordering about 20 a week.

My advice would be to order as many boxes as you can handle while you still can. If your order bank is going to "cut you off" in the future, they're going to whether you get 1 box or 20. I say get what you can while you can. The day may be coming when you no longer can get anything, and you'll wish you had done more volume while you still could.

Thanks!

 

[WormtownFJR]

Ask ten different people, get 11 different answers.

I am not privy to the relationships between coin services and banks. I can only imagine they charge banks a flat rate for a contracted period of time. When the contract is up, the coin service looks at the service they have provided the bank and informs the bank that the new price is based on the previous period's service adjusted for inflation etc. So if a bank gets a high quote, they may just cut everyone off and try to get a competing company in.

I think that increased CRH activity over time will cause a coin service to go WTF? I mean really, these banks are probably ordering 4 boxes of circulating change each and what 10 boxes of a coin that doesn't circulate. People on this forum often say not to educate tellers, but if they are ordering twice as many halves as they are quarters then that is an education.

Oh wait, you wanted advice. You're doing it right. Two boxes of 1/2s is good and your ordering other coin including pennies, which obfuscates the whole silver thing to where you just look like a crazy person . If I had that kind of time and money that is what I would shoot for, though I might order more dimes.

 

[BullionBaron]

Two boxes of 1/2s is good and your ordering other coin including pennies, which obfuscates the whole silver thing to where you just look like a crazy person .
[/quote]


Ha ha Yeah I'm always trying to get in and out as fast as possible cuz I feel like a total douche-nozzle.

 

[SeaninNH]

I order 2 boxes of halves a week from 2 different banks. I take 1 a day and I use the 5th week day to hit random banks in hopes for CWRs.

I'm more worried about my dump bank, but I really don't think that $500 a day will throw up any flags. I do the dumping through my business account so it looks a little better than doing it through a personal account.

 

[ArkieBassMan]

Ask ten different people, get 11 different answers.

I am not privy to the relationships between coin services and banks. I can only imagine they charge banks a flat rate for a contracted period of time.

Its my understanding that the coin courier services do indeed charge a flat rate - up to a limited number of boxes delivered as well as bags picked up for counting/re-rolling. Any boxes/bags over this limit causes additional charges to the bank. That is what a former bank manager told me. Thats how it worked in her bank anyway...I have no idea if its the same for every bank across the country.

 

[GMan00001]

Every bank's situation is different. Some banks have a flat fee contract and others pay only when the courier makes a delivery and some pay extra for each bag picked up or each bag delivered. Some banks just use the coins that are brought in (roll their own) and don't use a courier.

Depending on the the bank (or teller), some will share that information and some will not.

How much is too much will depend on your relationship with the bank and what their costs are.

I am lucky to have arrangements where I can buy whatever shows up off the coin machine so personally, I rarely order anything (maybe once or twice a year) and just buy whatever is available. But I know (or have known) banks with all of the above situations.

Some banks also have very limited vault space and cannot hold much coin and therefore can't order large volumes.

Take your time and learn your bank(s) and try to find the situation that will give you the most of what you want while costing them the least and that is probably the best you can do.

 

[clovis97]

I order one box of halves a week, and, yes, I do worry about being cut off.

 

[CHAINCHOMP]

i have cut way back on my searches, i only do $1,000 in halves each week w/ a box or two of some other denomination thrown in...id say too much is really something that depends on what the banks in ur area think/the tellers etc. keep it up and hh!

 

[mlayers]

Right now I got 3 banks ordering 2 boxes of halfs each. Plus do what others I can find....Matt

 

[Rich Hartford]

I'll be doing 8-16 boxes of halves a week. I'd gladly share the keepers with a good looking gal like you

HH
Rich

 

[$ilver$urfer]

I'll be doing 8-16 boxes of halves a week. I'd gladly share the keepers with a good looking gal like you

HH
Rich

LMAO - that profile pic is hideous!!!

HH,

$ilver$urfer