Hypothetical Windfall/shortfall?

[TooManyHobbies]

For those of you that are fortunate enough to score coin bags, i.e. halves, dimes, etc. What happens if the coin machine is off?
Say, you get jipped $2-3-400 dollars? Do you complain?
Now, what if you get an extra $2-3-400? Do you bring it back?

I figure the machines can't all be that accurate, and you may lose a few, and win a few. It all averages out by the time you die. Just wondering, if the unexpected windfall comes, are you under any obligation to return the extra? Is the bank under any obligation to make good on a shortfall?

I figure, If you're lucky enough to be able buy the bag, you get what's in it, good or bad. It's a gamble.

 

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[MentalUnrest]

I was always hesitant to buy bags for the reasons you mentioned. I watched many tellers change the bags and would see coins all over the inside machine. However, after the poor run of half boxes in my area, I took the gamble and started getting bags as that seemed my only chance to score on halves. So far, I have bought 3 half bags, 5 dime bags and 6 quarter bags - Every time it has been right on the money and I have never come up short. There have been many posts on bags coming up short though and I believe a few months back, someone ended up nearly $200 short. As far as the recourse? I really do not think you have any and you will eat any loss as the bank goes off what the machine says. Once you leave with it, you will have a pretty hard time convincing the bank it was short.

I am all for the bags as the opportunity to score huge is much greater from bags than boxes. As far as my results - I did really well on 2 of the half bags but the dimes were no better than boxes with nearly the same average. I did find 3 silver quarters though!

Good Luck

MU

 

[fistfulladirt]

I have bought around 50+ bags in the last couple years. I have never had a bag more than $3 or $4 short ever. Don't bring any overages in. The bank or CU cannot account for the extra cash in a bag, my halve bags have been $10 over in Sac dollars, pres dollars, flat pennies, etc. I search mostly dimes.

 

[jim4silver]

I think if you are going to buy machine bags you must accept the risk it might be off. Since I have only bought bags of halves I can only comment on those.

By far I have come out ahead on the deal with the silver I have found in the bags. I only started counting the coins in the bag in the past year, and almost every time the count was within $5 of being correct on the halves count, plus there is usually some other coins, like $1, quarters, dimes, etc. mixed in with it. Most of the time the bag comes out being worth a buck or two more on the total coin count than what I pay when you factor in the extra coins. If there is any silver it has always been a come out ahead deal.

I personally would not say anything if the bag was short, nor would I say anything if it was over. The understanding between me and the tellers is that I take it for what it has. Usually they see the extra other coins in there if they dump the coins into one of those thick clear bank plastic bags, and say "you can just keep those extra coins" or something like that. So they don't seem to care anyway.

Jim

 

[Dok Holliday]

I buy bags of quarters, dimes, and nickels. I can feel by weight if a bag is going to be way off. Before I could feel, I was $354 over between a bag each of nickels, dimes, and quarters. I called my Credit Union and saved the vault teller's job. She loves me now, and never hesitates to sell me anything I want. I even brought her a gift basket at the end of that week to show her I appriciate her helpfulness. She now thanks me every time I come into the credit union to buy coins on Friday.

Doing $2000 a week in bags, I'm never more than $1 off either way. I probabl wouldn't bring it up with the bank unless it was $5, because it was cause the vault to be unbalanced.

 

[Piledriver]

Short ?

Never !

Just think of all the cat hair, buttons, washers, paper clips and other good stuff I get ! Rich, Rich, Rich !!

Don't like it? Complain one time, and you won't have that aggravation any more.

 

[baddbluff]

Here's how I look at it... If they short you, it's unprofessional. Get what's due to you, even if you have to make a huge stink about it. If they overfill yer bag, accept it as a cheritable donation for all those annoying tellers out there who cherry pick OUR silver out of theIr trays!

HH
Baddbluff

 

[DarkRider23]

It is what it is is my motto. I'm willing to take chances to strike gold, and if it doesn't work out, then that's the price I paid.

Here's a little secret though. Get penny bags, even if you don't want to look for wheats or cents. Some bank's machines tend to throw dimes in the penny bags all the time. At one of my local banks, when they opened the machine, I saw a bag that must have had at least 30-50 dimes in it. It's an easy way to make money if you search pennies.

 

[dave5710]

Recently I brought home a bag of dimes, that was over $100. I called the bank and told them what I had found and the head teller said "we have been having trouble with our coin counter, but I thought we had it fixed. I guess not". So I took the bag back to the bank (later in the week) and told her that I would give her whatever it took to make it $600.00, because I had taken some coins out, and had no exact count of how many. I told her it would be around $5. She ran it through the machine and said it was $5.70 short of $600.00. So this being my main coin bank I was given a bag to replace the one I brought in. I also got a second bag and a bag of quarters. When I picked up the second bag of dimes, I could feel it was light. I said " Lisa, I think I know where those extra dimes go." I told her that a bag of dimes, quarters or halves should weigh right at 25 pounds. If it is a $500.00 bag.
The reason I did this is because a year ago I brought home a $500.00 bag of quarters, only to pour it out to find $100.00 in nickels. I had no way to prove I wasn't pulling a fast one on them and they had no problem replacing it.
When I have tested bags from my coin bank by replacing what I take out with other coins. My dump bank finds them to be spot on.