The emotional roller coaster that is finding a dump bank.

[Easy]

So most of you know I'm new and just getting set up. I already got several banks that will order for me that is no problem I get a 50/50 response at banks in this area about ordering halves and there are tons of banks so I'm good there. It's the dumping that's killing me...... In my area I have searched high and low and cannot locate a free coin machine to save my life. The only machines are cornstar. So my local branch had said while ordering that I could dump no problem without a fee I just had to wait a week they even gave me bags. So I'm sitting on 1k + in coins and I try to dump and the teller had the nerve to tell me it's gonna be 10%!!!!!!!!!!!!!!!!!
? Cornstar is cheaper than that and I'm am a customer. My wife and I have 5 bank accounts 2 credit cards and our home loan with this bank and your gonna charge me how much? ........wow, I just got out of there as quick as I could before I got angry. Didn't want to let them no I was tripping off it. I just smiled said oooook and walked out. So I'm sitting in my car going crazy thinking this is gonna cost me 100 bucks and my hobby is DONE. I called two other branches and got different fees ranging from 3% to 10% to 6 bucks per bag and 6.50 for a bag with mixed coin............finally I got a branch that said ok bring them down. I did and the lteller was super friendly and by the way super HOT! What a relief! Phew! No I just hope to god they don't cut me off which I'm sure they will. She and several other managers told me they have discretion to charge or deny what ever they want when it comes to coin exchange... That's NOT good for us. There is no corporate policy on this? This manger told me other branches don't want to do it because yep you guessed it, there to lazy to pick up the bag. But she said she didn't mind because the guards( brinks, Garda etc). Do most of the lifting anyways. Which is what I suspected but ALL of the branches that told me there were fees also told me its because THEY were also being charged a fee. so I don't know what to believe, I'm just glad I'm still in the hobby for another week , or until the next obstacle.
Any advice for me?

 

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[boristhespider88]

I just re-roll mine. Quick, easy, fast cash, and no problems at the banks.

 

[Easy]

I just re-roll mine. Quick, easy, fast cash, and no problems at the banks.

I just can't understand re rolling the coin. Why? I would rather stab myself in the throat. I'm dealing with thousands of dollars in coin.......I have a job , no way in heck I'm rerolling. Besides that I have even had some banks tell me there was a 5% fee even if it's rolled! Maybe if your bringing in 2 or 3 rolls they let you slide. Or maybe it's different in your area.....who knows, seems like there are no rules....

 

[boristhespider88]

I just can't understand re rolling the coin. Why? I would rather stab myself in the throat. I'm dealing with thousands of dollars in coin.......I have a job , no way in heck I'm rerolling. Besides that I have even had some banks tell me there was a 5% fee even if it's rolled! Maybe if your bringing in 2 or 3 rolls they let you slide. Or maybe it's different in your area.....who knows, seems like there are no rules....

Tear the roll open, look, dump into new roll. All in all, I can do a box in about 30 minutes. I usually take a lot longer because I date check and look for errors. I have a job AND go to school, and no place around me charges fees. I have carried a few boxes to my credit union and they just smile, say thanks, and give me the cash.

 

[Easy]

Tear the roll open, look, dump into new roll. All in all, I can do a box in about 30 minutes. I usually take a lot longer because I date check and look for errors. I have a job AND go to school, and no place around me charges fees. I have carried a few boxes to my credit union and they just smile, say thanks, and give me the cash.

No way you do that in 30. You must have some mad reroll skills........ More power to ya, wish I could do it. Maybe, just maybe with halves, but I do pennies and dimes also so....

 

[ArkieBassMan]

You probably should have had your dump bank(s) lined up before you began.

There isn't much you can do. If all the banks/branches in your area want to charge a fee, then you either pay the fee or you find a different hobby. The coin courier services (Brinks, Garda, etc) do indeed charge the bank a fee to deliver and pick up coins. Now whether your dumped coin would cause that fee to be more than they would pay anyway may or may not be true, depending on the terms of the contract that particular bank has with the courier service. Regardless, it is not a free service. The bank has to pay for that service, so it is not unreasonable for the bank to want to charge you for using that service. It is my understanding that my order bank pays a flat fee when they order boxes, and will order halves for me on the weeks they are ordering boxes of coin anyway. But, on the weeks they do not need to order, I don't get any boxes. I think thats very fair.

One of my dump banks has a coin counter, but it is not self-service. I have to take the bags of coin to a teller who goes into a back room and dumps them into a machine. So, just because you can't see a coin counter in the lobby does not necessarily mean that particular bank does not have one. Asking around might locate one or more of these "hidden" machines that you were unaware of.

 

[boristhespider88]

No way you do that in 30. You must have some mad reroll skills........ More power to ya, wish I could do it. Maybe, just maybe with halves, but I do pennies and dimes also so....

I usually like to wait until the weekend, then I do it. I like to take my time with the halves and savor it... I usually do a box in about an hour, just because I check for the good stuff, and other stuff like proofs, errors, No FG's, 1987's, and NIFC (2002-present) halves. I do dimes too, but in my area, they are pretty dry right now, I find more silver ones at my job. I do nickels as well, and they are annoying to roll. Halves are the only coin that I can do a lot of and not get annoyed. You just have to be patient with stuff like this. I do this as a hobby, and finding silver is just a perk of it. Don't get frustrated about the little things. I re-roll my coin just because my dump bank charges a 4% fee for their coin counter. Rolling is free and a good time killer. Just my opinion. I realize I sounded a little hostile with my last post, and if I came off as such, I apologize, Easy.
- DS

 

[clorox]

Yeah, I can search, count, and roll a box of halves in 30 minutes if I really need to. Just takes a bit of practice and a system that works for you. A box of dimes takes longer because there are more coins and they're so much smaller. Maybe 50 minutes to an hour at top speed. Pennies (and nickels) take forever because you have to look at the face of each coin, not just the edge.

 

[Easy]

I usually like to wait until the weekend, then I do it. I like to take my time with the halves and savor it... I usually do a box in about an hour, just because I check for the good stuff, and other stuff like proofs, errors, No FG's, 1987's, and NIFC (2002-present) halves. I do dimes too, but in my area, they are pretty dry right now, I find more silver ones at my job. I do nickels as well, and they are annoying to roll. Halves are the only coin that I can do a lot of and not get annoyed. You just have to be patient with stuff like this. I do this as a hobby, and finding silver is just a perk of it. Don't get frustrated about the little things. I re-roll my coin just because my dump bank charges a 4% fee for their coin counter. Rolling is free and a good time killer. Just my opinion. I realize I sounded a little hostile with my last post, and if I came off as such, I apologize, Easy.
- DS

No worries brother! I try not to take offense to anything when reading a forum comment unless its way over the top. You cannot tell a persons tone/attitude by reading. Alot of people always think they can but you cant. people think that im mad or snippy but that just the way i come across its not how i really feel. even in person this sometimes can be an issue for me. iam only here to share the hobby and make friends. if someone gets mad at me, im not gonna worry about it as it was unintentional. Some people are sensitive i guess....

 

[Easy]

Update: just checked my account online and the coins that they said I couldn't get cash on the spot for and would take a week to deposit is showing in my account. It's still pending but I think it's weird that they entered it already.

 

[minkybodl]

Maybe you need to learn how to take your first steps before you start running. I'm sure you wouldn't have any trouble getting rid of 3-4 hundred at a time while also building up a relationship with some of the tellers.

 

[Diver_Down]

Easy - The one thing this hobby isn't. Take your lumps and pay. Re-roll. Or find a new hobby. Easy

 

[albert]

So you said you and your WIFE have the loan at that bank right?? And that new teller at the bank is super hot?? I think it gonna cheat

 

[panhandler]

you pay the bank for services on your existing accts in some form or another if your going to dump on them then yes they should charge you. maybe you arent finding any silver or enough to make it worthwhile for you, if you are finding silver then surely its worth 1u% unless your just GREEDY u should change your avatar to scrooge lol what a whiner if someone was dumping some type of service on your profession illbet you would quickly come up with a fee. afterall you are dumping your culls after you profit. big diff if your just bringing in the kids piggy bank for him but obviously your profiting handsomely from the coin roll hunting,but too cheap to pay 10%.....probably dont tithe either!

 

[unclehuckelberry]

How do you pay for your gas and groceries? If you do it with your debit card why not switch over to paying with half dollars?

 

[agme]

The only way I can dump is if they are rerolled (unless I want to travel long distantses and deal with bags having to be changed every $100, broken machines etc...) Yes I only do halfs and 6 to 10 boxes a week, but if you just slice open the roll, check the coin, then reroll (no counting needed), takes 30 to 40 minetes a box. The funny thing is a lot of my dump banks open the rolls and dump them in bags to ship out but the will only take them if rolled, go figure.
Also I buy the paper rollers for about $25 for 5 or 6 thousand, yes my pick-up banks got tired real quik of me asking for rollers when I was picking up.

 

[Easy]

Lol, wow. No haters on this website.....it's cool I won't stoop down to your level. I'm not complaining, I'm just trying to figure out how things works as I've read countless threads that you all have written about ordering and dumping. Everyone else try's to avoid fees, but i should be different? Sounds more like bankroll jealousy or you just plain don't want anybody else to CRH which I could understand but then don't be on a forum if you don't want to share your info. I'm Scrooge because I don't wanna throw my money in the trash by paying fees? Ok......did I get those coins at some sort of discount when I bought them? No so it is reasonable to expect no fee exchanges. I understand why they do it but doesn't make it right. If the coins are that labor intensive the GOVRNMENT should get rid of them. Not the banks......IMO

And who is profiting? I haven't...... I found 15 bucks worth of silver that I haven't sold so really I have nothing and I've spent probably 50 in gas driving around to banks so what profit? I'm doing this for fun.......shoot if I was making money I wouldn't bat an eyelash at a 10% fee what world do you live in. I'm doing small amounts a box or two of halves a week and I've been skunked so far......

 

[Easy]

The only way I can dump is if they are rerolled (unless I want to travel long distantses and deal with bags having to be changed every $100, broken machines etc...) Yes I only do halfs and 6 to 10 boxes a week, but if you just slice open the roll, check the coin, then reroll (no counting needed), takes 30 to 40 minetes a box. The funny thing is a lot of my dump banks open the rolls and dump them in bags to ship out but the will only take them if rolled, go figure.
Also I buy the paper rollers for about $25 for 5 or 6 thousand, yes my pick-up banks got tired real quik of me asking for rollers when I was picking up.

I'm sure I'll have to experiment with rolling at some point I just don't think it would work out for me that way. I don't have the patience. Also I don't like the idea of just edge searching. Even though I don't have patience for the dump I really really enjoy the hunt and would rather go through the halves one at a time. Dimes or penny's I just through in my Ryedale. Like I've said to each his own Im just trying to learn the most efficient way for me.

 

[AC1955]

Maybe a dumb question as I don't CRH but....why don't you just do a few rolls at a time at a few different banks? Split it up amongst the many. Don't know where you live, but up here in NH, within a 45 miles radius, there are probably 50-60 banks and credit unions. (BTW - none will order 1/2s for me ). Just a suggestion from someone who, no doubt, has no clue as to what she's talking about.

Anita

 

[Easy]

So you said you and your WIFE have the loan at that bank right?? And that new teller at the bank is super hot?? I think it gonna cheat

I can guarantee that wouldn't happen. You don't know me. My wife and I have been through a lot and I have worked to hard on this marriage to blow it my cheating. I've had plenty of opportunities I have never ever touched another women. Flirt? Yes, touch no. My wife flirts here and there I'm fine with it I trust her. I mean who doesn't?