My First Hunt- Question

[danya]

Hey hunters. I have ordered my first coin roll box and will search it next week. It's a half dollar box. I have a a question though. I have been told that I shouldn't turn in my rejects to the same bank. Can I, however? Can I just tell them to order a new box next time?

 

[Axecutioner]

Never dump where you pick up, under any circumstances. Ever.

 

[usandthem]

Never, ever, never! You'll see them again.

 

[BCD11]

Before never deciding to dump at the pick up point I would run a simple test...given certain conditions. If your halves are rolled when you pick them up, you open the rolls, and return the halves loose (not rolled), try slitting the roll lengthwise and then running a black permanent marker down the slit before taking the halves out of the roll. Return them to the pick up point the same day your new order comes in. If the halves in your new order are rolled in clear plastic you'll be able to quickly see if you're getting your dump halves as time goes on.

If the dump point wants the halves rolled I would still slit the roll and mark them before re-rolling them in readily available paper wrappers.

A year, or so back, I sorted quarters and halves and was concerned with getting my dumps back. Granted it was only two boxes of each per week, but I never saw one come back after dumping at the pick up point for 10 weeks. It might have been the exception rather than the rule but it saved me unnecessary driving.

I say give it a try, it might work in your area also.

 

[ArkieBassMan]

Hey hunters. I have ordered my first coin roll box and will search it next week. It's a half dollar box. I have a a question though. I have been told that I shouldn't turn in my rejects to the same bank. Can I, however? Can I just tell them to order a new box next time?

The main reason you do not want to to use the same bank for ordering and dumping is that the bank gets hit with a double expense, and will most likely cut you off somewhat quickly. Not only do they pay to order the box(es) for you, they have to pay again to have the very same coins sent back. They're really doing you a favor by ordering boxes for free, and returning the rejects to them is very much like a slap in the face. Ever hear, "Don't bite the hand that feeds you"? Most banks will consider this unacceptable, but not all. Talk to your bank's branch manager and/or vault teller. If they're ok with it, then go for it if you like. I have a bank that does just that. Over 1 year in and nary a problem. However, they volunteered - almost insisted actually - to do it that way...and that quality service earned them a CD that they likely wouldn't have gotten otherwise I might add. I certainly didn't (and wouldn't) ask them to do that for me. Even at that, I still wouldn't do it if not for the fact that I am forced to dump back into my own system anyway. As others have stated, you do run a slightly increased chance of getting some of your own rejects back in the future, but only doing 1 or 2 boxes at a time, that increased chance is likely pretty insignificant. If so few coins are entering your system that you get a large portion of your own dumps back while only doing a box or two, you likely aren't going to find much anyway.

 

[Piledriver]

ABM

++1.

 

[BCD11]

Good one Arkie!

 

[cbrtriple8]

Hey hunters. I have ordered my first coin roll box and will search it next week. It's a half dollar box. I have a a question though. I have been told that I shouldn't turn in my rejects to the same bank. Can I, however? Can I just tell them to order a new box next time?

Sure you can, go for it. Just use a flat head screw driver and uncrimp one side, once done searching, slowly use your fingers re-roll the uncrimped part back to how it was machine rolled. That way the rolls look unsearched, and you'll be able to just do a "swap" and get another box. Oh one more thing, make sure you have the bank order more than 2 boxes..
Good luck hunting

 

[enamel7]

Hey hunters. I have ordered my first coin roll box and will search it next week. It's a half dollar box. I have a a question though. I have been told that I shouldn't turn in my rejects to the same bank. Can I, however? Can I just tell them to order a new box next time?

Sure you can, go for it. Just use a flat head screw driver and uncrimp one side, once done searching, slowly use your fingers re-roll the uncrimped part back to how it was machine rolled. That way the rolls look unsearched, and you'll be able to just do a "swap" and get another box. Oh one more thing, make sure you have the bank order more than 2 boxes..
Good luck hunting

I again ask are you kidding? Please don't give bad advise to new members. How would you like it if others did the same to you?
HH
enamel7

 

[cbrtriple8]

Hey hunters. I have ordered my first coin roll box and will search it next week. It's a half dollar box. I have a a question though. I have been told that I shouldn't turn in my rejects to the same bank. Can I, however? Can I just tell them to order a new box next time?

Sure you can, go for it. Just use a flat head screw driver and uncrimp one side, once done searching, slowly use your fingers re-roll the uncrimped part back to how it was machine rolled. That way the rolls look unsearched, and you'll be able to just do a "swap" and get another box. Oh one more thing, make sure you have the bank order more than 2 boxes..
Good luck hunting

I again ask are you kidding? Please don't give bad advise to new members. How would you like it if others did the same to you?
HH
enamel7

Bad advice? Lol..oh well, he was noobie enough to ask if it's okay to dump where he eats, even though he had been told not to.....

 

[clovis97]

The fastest way to lose a buy bank is to dump your last box on them.

 

[GEOFF]

try a completely different bank

 

[namster]

OK, to dispel some of the confusion that seems to be floating around...here goes..

Servicing companies do not mix up coins from various banks into one huge pile. WE the CRHers do that by ordering from one bank and dumping into another. So, if you order from bank X and dump into bank X, you could very well see your own coins back if you are the only hunter in the area (not likely). What is more likely is that everyone carefully laid out strategy is being foiled by the other hunters in the area. They are dumping into your pick up bank, you are dumping into theirs, etc.

"Banks eat the fees on both sides if you dump and order at the same bank." This is not entirely accurate. Many of the large national banks have CONTRACTS with the courier to provide a service. This service includes delivering and retrieving coin. I know for a fact that my bank does not pay "fees" to order for me, it is included within the banks service contract negotiated with the courier. Smaller banks may have a different arrangement. Now, a prudent person will always proceed with care and sensitivity when engaging in the art of ordering and dumping coin. A pissed off vault teller, who is 62 years old and 75 pounds over weight, will not appreciate receiving your 200 pounds of bagged coin. Said vault teller will make up excuses as to why you can no longer order. "The "cash vault" is limiting orders," "Loomis is limiting orders," etc, its all BS! she just does not want to deal with all of your coin. So be smart! Read your tellers/LTs/VTs/managers, adjust your strategy accordingly.

There. Hope that helps.

 

[danya]

OK, to dispel some of the confusion that seems to be floating around...here goes..

Servicing companies do not mix up coins from various banks into one huge pile. WE the CRHers do that by ordering from one bank and dumping into another. So, if you order from bank X and dump into bank X, you could very well see your own coins back if you are the only hunter in the area (not likely). What is more likely is that everyone carefully laid out strategy is being foiled by the other hunters in the area. They are dumping into your pick up bank, you are dumping into theirs, etc.

"Banks eat the fees on both sides if you dump and order at the same bank." This is not entirely accurate. Many of the large national banks have CONTRACTS with the courier to provide a service. This service includes delivering and retrieving coin. I know for a fact that my bank does not pay "fees" to order for me, it is included within the banks service contract negotiated with the courier. Smaller banks may have a different arrangement. Now, a prudent person will always proceed with care and sensitivity when engaging in the art of ordering and dumping coin. A pissed off vault teller, who is 62 years old and 75 pounds over weight, will not appreciate receiving your 200 pounds of bagged coin. Said vault teller will make up excuses as to why you can no longer order. "The "cash vault" is limiting orders," "Loomis is limiting orders," etc, its all BS! she just does not want to deal with all of your coin. So be smart! Read your tellers/LTs/VTs/managers, adjust your strategy accordingly.

There. Hope that helps.

Thank you. HH

 

[BCD11]

OK, to dispel some of the confusion that seems to be floating around...here goes..

Servicing companies do not mix up coins from various banks into one huge pile. WE the CRHers do that by ordering from one bank and dumping into another. So, if you order from bank X and dump into bank X, you could very well see your own coins back if you are the only hunter in the area (not likely). What is more likely is that everyone carefully laid out strategy is being foiled by the other hunters in the area. They are dumping into your pick up bank, you are dumping into theirs, etc.

"Banks eat the fees on both sides if you dump and order at the same bank." This is not entirely accurate. Many of the large national banks have CONTRACTS with the courier to provide a service. This service includes delivering and retrieving coin. I know for a fact that my bank does not pay "fees" to order for me, it is included within the banks service contract negotiated with the courier. Smaller banks may have a different arrangement. Now, a prudent person will always proceed with care and sensitivity when engaging in the art of ordering and dumping coin. A pissed off vault teller, who is 62 years old and 75 pounds over weight, will not appreciate receiving your 200 pounds of bagged coin. Said vault teller will make up excuses as to why you can no longer order. "The "cash vault" is limiting orders," "Loomis is limiting orders," etc, its all BS! she just does not want to deal with all of your coin. So be smart! Read your tellers/LTs/VTs/managers, adjust your strategy accordingly.

There. Hope that helps.

EXCELLENT info Namster!

Do you suppose the probability of getting your own coins back changes with the denomination? I pick up and dump pennies at the same banks and credit unions. My % of high copper cents has consistenly been 25 to 28. Could one be more likely to see to see their own halves because of fewer in the system or the way the courier services process halves vs. pennies?

Thanks.

 

[mark v]

This past week I cashed in several rolls of quarters and dimes. The teller asked me if I wanted to just exchange the rolls for others. As she was asking I noticed marks on her rolls that were applied by me weeks before. I had marked my rolls at home so I would not open the same roll twice.
If you buy rolls where you dump rolls you will get your previous rolls back.

 

[ArkieBassMan]

OK, to dispel some of the confusion that seems to be floating around...here goes..

Servicing companies do not mix up coins from various banks into one huge pile. WE the CRHers do that by ordering from one bank and dumping into another. So, if you order from bank X and dump into bank X, you could very well see your own coins back if you are the only hunter in the area (not likely). What is more likely is that everyone carefully laid out strategy is being foiled by the other hunters in the area. They are dumping into your pick up bank, you are dumping into theirs, etc.

"Banks eat the fees on both sides if you dump and order at the same bank." This is not entirely accurate. Many of the large national banks have CONTRACTS with the courier to provide a service. This service includes delivering and retrieving coin. I know for a fact that my bank does not pay "fees" to order for me, it is included within the banks service contract negotiated with the courier. Smaller banks may have a different arrangement. Now, a prudent person will always proceed with care and sensitivity when engaging in the art of ordering and dumping coin. A pissed off vault teller, who is 62 years old and 75 pounds over weight, will not appreciate receiving your 200 pounds of bagged coin. Said vault teller will make up excuses as to why you can no longer order. "The "cash vault" is limiting orders," "Loomis is limiting orders," etc, its all BS! she just does not want to deal with all of your coin. So be smart! Read your tellers/LTs/VTs/managers, adjust your strategy accordingly.

There. Hope that helps.

Nice post, but not entirely factual depending on your bank and location. What is true for certain area(s)/bank(s) is not be true for all areas and banks.

First off, my area (very rural) is littered with small region-specific type banks. The entire chain of some of these banks is 5-6 branches or less. Thats it. Not many BoA's and no TD's around here. I have never seen a TD nor do I know what TD stands for for that matter. I have talked to the courier employee that services every bank in my area multiple times during my CRH activities. According to him, the half dollars in bags from coin counters picked up from my area go through this process: they get weighed (not counted - that surprised me) and then get dumped into one large pile to be rerolled and shipped back out. As for other denominations, I have no idea. Halves were all that I asked about.

Secondly, banks absolutely do have expenses both ways if you pick up and dump from the same bank. You are absolutely correct in that some banks pay a flat-rate fee to the courier for service...up to a certain number of bags/boxes...and that your ordering and dumping boxes wouldn't change the amount of that fee 1 cent. That is absolutely correct. Not alll banks pay a flat rate fee. Some kinda pay as they go. My main order bank is a pay-as-they-go type. When they have to order coin for their normal business, then they can add on my boxes of halves for no additional cost. However, if they don't need coin, my half boxes would indeed cost them money if they were to order them...which they won't in that situation. However, regardless of what type of contract the bank has with the courier service, anytime you involve a bank employee in some sort of transaction...retrieving boxes, dumping coin, etc...you are using that employee's time, which the bank is paying for. That is indeed an expense.

 

[namster]

Nice post, but not entirely factual depending on your bank and location. What is true for certain area(s)/bank(s) is not be true for all areas and banks.

First off, my area (very rural) is littered with small region-specific type banks. The entire chain of some of these banks is 5-6 branches or less. Thats it. Not many BoA's and no TD's around here. I have never seen a TD nor do I know what TD stands for for that matter. I have talked to the courier employee that services every bank in my area multiple times during my CRH activities. According to him, the half dollars in bags from coin counters picked up from my area go through this process: they get weighed (not counted - that surprised me) and then get dumped into one large pile to be rerolled and shipped back out. As for other denominations, I have no idea. Halves were all that I asked about.

Secondly, banks absolutely do have expenses both ways if you pick up and dump from the same bank. You are absolutely correct in that some banks pay a flat-rate fee to the courier for service...up to a certain number of bags/boxes...and that your ordering and dumping boxes wouldn't change the amount of that fee 1 cent. That is absolutely correct. Not alll banks pay a flat rate fee. Some kinda pay as they go. My main order bank is a pay-as-they-go type. When they have to order coin for their normal business, then they can add on my boxes of halves for no additional cost. However, if they don't need coin, my half boxes would indeed cost them money if they were to order them...which they won't in that situation. However, regardless of what type of contract the bank has with the courier service, anytime you involve a bank employee in some sort of transaction...retrieving boxes, dumping coin, etc...you are using that employee's time, which the bank is paying for. That is indeed an expense.

Are you saying that large nation wide banks in smaller areas pay the fee? In my post I mentioned that smaller banks likely have other arrangements. Small areas have their particular challenges, I suppose it is wise to use a larger bank for dumping if possible, or ask the people in charge what their arrangement is with the courier to help avoid problems. In the end, individual CRHers need to communicate with their banks to find out their particular challenges. I think many people are afraid to speak with the managers, but I have found doing so can help avoid problems in the future.