The Beginning of The End...???

[$ilver$urfer]

Hello Fellow CRHers,

I just got a phone call from one of my favorite dump bank tellers this morning informing me that in about 2 weeks all of the coin counting machines in this bank chain would start charging its members 4.9% to dump (previously free). I typically dump 5 of my 7 weekly boxes at different branches of this bank every week and that is some very discouraging news. At any rate, she said it would still be free for me to roll my halves and stamp them with my member number and they would take them in person. Sadly, it looks like my workload for the hobby is on the rise! I may drop down to 5 or 6 boxes a week now (dropping the non-performing supplier), not really sure at this point; I had it pretty easy for a while and now I am still trying to comprehend this new CRH reality!

HH,

$ilver$urfer

 

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[MentalUnrest]

Not sure if you have any other banks in your area, but I would be looking into opening up another account.

 

[$ilver$urfer]

Not sure if you have any other banks in your area, but I would be looking into opening up another account.

I have lots of bank accounts, however, only one other bank in the area has free coin counting machines but only one branch is near me, the other is about 40 mins away. I am thinking this will be a trend for all banks in 2011, and many more CRHers will run into the same situation (free coin counting machines will be a thing of the past).

 

[mountainman 2]

Look into your bank supplying you with bags. That is the system I have in place for returning half dollars. I fill up the bag with $500 in halves, write my account # and other info on it. The teller accepts it as a cash deposit and it's immediately credited to my account. It then gets sent out and counted and any adjustments are made to my account. Just a thought.

 

[FreedomUIC]

Look into your bank supplying you with bags. That is the system I have in place for returning half dollars. I fill up the bag with $500 in halves, write my account # and other info on it. The teller accepts it as a cash deposit and it's immediately credited to my account. It then gets sent out and counted and any adjustments are made to my account. Just a thought.

This is B of A's common practice.

 

[d2arcing]

what bank told is this? sux...

 

[CardsNCoins]

Look into your bank supplying you with bags. That is the system I have in place for returning half dollars. I fill up the bag with $500 in halves, write my account # and other info on it. The teller accepts it as a cash deposit and it's immediately credited to my account. It then gets sent out and counted and any adjustments are made to my account. Just a thought.

At the volume of 6 boxes a week that will now be $150,000 in deposits, and $150,000 in withdraws that will now be on record - as opposed to the $0 it used to be.

 

[$ilver$urfer]

Look into your bank supplying you with bags. That is the system I have in place for returning half dollars. I fill up the bag with $500 in halves, write my account # and other info on it. The teller accepts it as a cash deposit and it's immediately credited to my account. It then gets sent out and counted and any adjustments are made to my account. Just a thought.

At the volume of 6 boxes a week that will now be $150,000 in deposits, and $150,000 in withdraws that will now be on record - as opposed to the $0 it used to be.

Excellent point - what I would be worried about in the future is that they will start charging for rolled coin deposits once they seen a pattern or a large amount. Or they may accuse me of money laundering or coin washing, lol.

 

[mountainman 2]

It was only a suggestion. I've been making deposits and withdrawls this way for the last 3 years or so, no problems yet.

 

[$ilver$urfer]

It was only a suggestion. I've been making deposits and withdrawls this way for the last 3 years or so, no problems yet.

Great suggestion mountainman - I just loved the relative anonymity of the coin counting machines. I'll go to B of A tomorrow and ask them if they will do this for me, if so, that would be the ideal situation - drop off 4 bags a week on them. I'll let you know!!!

HH,

$ilver$urfer

 

[underdogger]

Again It is the greedy people that are dumping 5 to 7 grand a week . They ruin the whole collector hobby! Not mentioning any names . Chalk it up to the greedy and well your right. Bank fees and dirty looks for the guy that just goes through maybe a c-note in different denominations of coins . Guys figure it out! One guy was practicaly bragging and bitching that he broke two coin sorters in one day . He was worried that he would have to wait to get his 250 that were stuck in the sorter . Thanks to the looters of CRH buy the end of the year they will not even take back coin with out a fee . bravo !!! What did you expect ?

 

[Hi Ho Silver!]

bummer

 

[Rakattack]

I don't even have a coin counter in my area...

 

[$ilver$urfer]

I don't even have a coin counter in my area...

I know I am spoiled in my area with high velocity coin counters - I will start re-rolling my halves by hand soon. This may be good in a sense then I can have even more dump banks than just a few.