Videos Killing CRH

[srcdco]

I stopped by my local bank branch yesterday to get some spending money after returning from vacation. There was a guy in there looking for rolls to search. The teller told him that all she had were rolls that I had already searched. He got mad at me and started yelling at me that I needed to share. I told him I've been doing this for many years and I get what I get each week. He then said (loudly) "I've made over $10,000 profit on coins from this branch alone in the last year!" After he left, the tellers all told me that in the last 6 months, they have been getting people coming in all the time trying to buy rolls to search and they are getting tired of it.
I'm not worried about being cut off as I exchange, I don't buy, so they have exactly the same coin that they had when I came in. It doesn't cost them anything, plus they like it that I count every roll and guarantee that the counts are correct when I bring them back and I replace the foreign coins with US (not including Canadian).
The problem is all the videos online of people finding stuff is encouraging others to try to buy rolls to look through. The tellers don't like it. Be careful.

Scott

 

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[traveller777]

I stopped by my local bank branch yesterday to get some spending money after returning from vacation. There was a guy in there looking for rolls to search. The teller told him that all she had were rolls that I had already searched. He got mad at me and started yelling at me that I needed to share. I told him I've been doing this for many years and I get what I get each week. He then said (loudly) "I've made over $10,000 profit on coins from this branch alone in the last year!" After he left, the tellers all told me that in the last 6 months, they have been getting people coming in all the time trying to buy rolls to search and they are getting tired of it.
I'm not worried about being cut off as I exchange, I don't buy, so they have exactly the same coin that they had when I came in. It doesn't cost them anything, plus they like it that I count every roll and guarantee that the counts are correct when I bring them back and I replace the foreign coins with US (not including Canadian).
The problem is all the videos online of people finding stuff is encouraging others to try to buy rolls to look through. The tellers don't like it. Be careful.

Scott

I had not thought of it. I am going to start buying rolls and going through them. My son in laws would like to do that too. Thanks a ton

 

[Scott (Mich)]

Okay, that complainer (--I made 10k here last year--) is not the sharpest knife in the drawer. Him bragging he made so much money is not going to discourage people and he'll have more competition yet.

You have a good enough relationship that the tellers don't mind you bring coins back? I guess with the post-Covid coin shortages they don't mind doing that. That has changed from what it used to be as a few years back tellers would get irked if they perceived us giving them "busy work". We used to make sure that wherever we got coins from, they never went back to the same source as that was a way to get our searching shut down.

 

[traveller777]

Okay, that complainer (--I made 10k here last year--) is not the sharpest knife in the drawer. Him bragging he made so much money is not going to discourage people and he'll have more competition yet.

You have a good enough relationship that the tellers don't mind you bring coins back? I guess with the post-Covid coin shortages they don't mind doing that. That has changed from what it used to be as a few years back tellers would get irked if they perceived us giving them "busy work". We used to make sure that wherever we got coins from, they never went back to the same source as that was a way to get our searching shut down.

Thanks for the pointers. I am heading to first bank now.

 

[Scott (Mich)]

LOL

 

[srcdco]

Actually, I've always exchanged so they have the same amount of coin when I leave that they had when I got there. The banks like that. It doesn't cost them anything because they can order what they need and nothing extra. I've been doing it this way since 1974. Plus, the teller doesn't have to do paperwork to get coin out of the vault, unless they need some at their station.
At one branch, the head teller told me I get priority on new boxes and she gives my dumps to the others to discourage them. But, they are getting tired of so many people coming in just to try to buy coin to look through.

Scott

 

[traveller777]

Actually, I've always exchanged so they have the same amount of coin when I leave that they had when I got there. The banks like that. It doesn't cost them anything because they can order what they need and nothing extra. I've been doing it this way since 1974. Plus, the teller doesn't have to do paperwork to get coin out of the vault, unless they need some at their station.
At one branch, the head teller told me I get priority on new boxes and she gives my dumps to the others to discourage them. But, they are getting tired of so many people coming in just to try to buy coin to look through.

Scott

Another goid pointer. My son in laws and I will do that too. Thanks!

 

[srcdco]

When I've set this up with each branch, I always talk to both the manager and the head teller. If either says no, then it's a no-go. They never have. I have had to explain what I'm doing to tellers, some think I'm crazy, some get it.
I even told the branch manager that when I retire, I want to work at the bank part-time. She asked when I'm retiring.

Good luck!
Scott

 

[traveller777]

When I've set this up with each branch, I always talk to both the manager and the head teller. If either says no, then it's a no-go. They never have. I have had to explain what I'm doing to tellers, some think I'm crazy, some get it.
I even told the branch manager that when I retire, I want to work at the bank part-time. She asked when I'm retiring.

Good luck!
Scott

Great advise.

 

[Mtldealer]

In everything from hobbies to business - there are going to be pigs and decent people. I find that long term, the pigs don't need my help causing them trouble... they do it to/for themselves.

As far as keeping things a secret - you too were once a newbie and hopefully someone gave you direction and advice and didn't shut you out of a hobby that is lots of fun. We all do this for different reasons... Some advice my dad gave me that I use every day - Do the best you can, truly the best you can, at the end of the day - wherever the chips fall, you'll be able to look at the situation and say - I did the best I could. More than that is out of our control. Happy Hunting.

 

[crashbandicoot]

10K?Shoot,I didn,t know you could do that well.I got a couple hundred bucks extra so I think I,ll pick up some rolls tomorrow and do it to it! I,ve never heard of anyone doing that here,so maybe I,ll be lucky.Thanks guys for the tips!

 

[traveller777]

10K?Shoot,I didn,t know you could do that well.I got a couple hundred bucks extra so I think I,ll pick up some rolls tomorrow and do it to it! I,ve never heard of anyone doing that here,so maybe I,ll be lucky.Thanks guys for the tips!

I had no idea either. A fun hobby and good money.

 

[srcdco]

Of course I don't believe he made that much money. I know he was mad. He did say he didn't collect but was in it for the cash. I'm guessing he's looking for the minor errors and varieties and selling them online.

Scott

 

[traveller777]

Of course I don't believe he made that much money. I know he was mad. He did say he didn't collect but was in it for the cash. I'm guessing he's looking for the minor errors and varieties and selling them online.

Scott

Seems like a lot of money for a hobby. But you never know.

 

[Treasure_Hunter]

They have been saying that youtube CRH videos are killing the hobby for 16 years that I am aware of.

 

[crashbandicoot]

They have been saying that youtube CRH videos are killing the hobby for 16 years that I am aware of.

That,s what I,m talking about!

 

[smokeythecat]

My banks don't have rolls available anymore. I haven't done any CRH in over a year or so now.

 

[Tommybuckets]

Hilarious! Things seem quite competitive out there. I believe it was covid that really killed CRHing in my area. I exchange as well when possible or when they tell me they have a change shortage. If they don't want to swap I just dump. I don't look for errors unless I see a collection dump or something catches my eye. At most of my banks we jockey for position and as things have slowed and gas prices are up I have stepped back and let many banks be overrun by new crhers. Instead I'm staying on the clock at work not burning gas and making more than enough extra money to buy what I would find. I do miss getting a few hundred in coins and flipping through them after lunch but since halves are so scarce, picking up dimes $5 and $10 at a time has been a losing proposition. That said its amazing how quickly my long forged relationships are forgotten as tellers advance and retire off the line. I have tellers who remember my name when I haven't seen them in five years but thats a rarity. $10,000 in a few months?!! These days if that guy sells on ebay he's in for a rude capital gains awakening lol. In my best years I've found 50 lbs of 40-90% coins but those days are long gone. It would be much easier and more consistant $ to just mow lawns for extra money but the fun is in the chase, the disappointments, funny stories of scooping and getting scooped and the eventual score. Its a hobby, not an economic opportunity.

 

[smokeythecat]

Yes, that capital gains new law stopped me dead in my tracks. I' m in the process of giving the rest of the good stuff to the kids (no tax there) or to Goodwill or such. At least I can get deductions over a few years.

The scoop on the law is, if you sell $600 on any internet platform, you will get a 1099k from that company. You will then have to file a schedule c for self employed business and SE, self employment tax. And all for me to break even at best? NO WAY!

 

[Gare]

Thanks for the pointers. I am heading to first bank now.

The same theroy holds true with people bragging sbout all there finds. I do not want tlo see more people detecting ! The only ones wanting to see more people detecting are ther ones selling metal detectors. There are a few tht like new peoples company