| Author |
 Replies: 37 / Views: 4,888 |
Page 3 of 3
|
|
|
|
Pillar of the Community
United States
1547 Posts |
Chris, put me down, too, in the 100% agreement camp. You articulated the problem well. In a nutshell, we've been abusing the system, and it's finally catching up to us. Now there's a coincidence!  |
|
Valued Member
United States
364 Posts |
It's a long time coming and I completely agree with the OP. I've seen guys on here talk about 10-20 box orders A WEEK. It is no surprise it's caught up with people. Folks got too greedy, created too large of a spike, banks got fed up with it, and they are rightly clamping down.
|
|
Pillar of the Community
United States
1348 Posts |
I talked to my bank when they said no more pennies. They said they were being charge $4..5 a box and would have to charge me the same. I confirmed that they counted coins for free though. I then asked if they are charged to have coins hauled away. they of course said yes. When I ask them to pay me to take all of their coins they refused with a laugh. Funny how I would take their coins for free and save them charges, but the minute I incure them cost they want to charge me. I went to my other bank and they said they do not use Brinks and they think thay only chagre a monthly fee (doesn't matter the amount of coinage). they also told me they have many people who roll search and get coins from them. I told them I would never dump my coins here, since I have a bank that does it for free and they won't give me coins anymore. They also todl me they would order me any amount of coins no matter what. THATS A BANK!
|
|
Valued Member
United States
439 Posts |
I get 1 box a week from 2 different banks. One bank orders for a few people, one of them gets 6 boxes each time. The other bank took out their coin machine bacause they got tired of dumpers. I now pick up the coins that they have to hand count.
I try to be reasonable in getting boxes and dumping coins. Some people feel it is their right to do it as much as they want. That is fine but if you abuse it they are going to take it away. That is just how it is. It is not cheap for banks to do this. If you are a pig we are all going to suffer. If you are reasonable and stay under the radar no one will ever care. One bad apple spoils the bunch.
|
|
Pillar of the Community
United States
2335 Posts |
Unless you have a large sum of money on deposit, pay bad check fees or have several loans with your bank they aren't making a lot of money on your business. Expecting them to provide a service without a fee is unreasonable. The bottom line is any fee that is not charged directly to the customer incurring the fee is charged across the board through lower interest rates on cd's or higher rates on loans. People who don't roll hunt are subsidizing your hobby.
|
|
Pillar of the Community
United States
1348 Posts |
I had $7000 in my account and wouldn't let it dropbelow $5000 at any time. We all know they loan these monies out. If they laon my $5000 to someone at 5% interest they make $250 a year off of my money. I have had my account for over 7 years. I don;t think I have to do the math but I'm sure my $100 in pennies every other week isn't that unreasonable. Jsut my opinion and if they are taking such fees getting coinage maybe they should use another service. If I made $4.75 a box rolling pennies I would quit my job.
|
|
Pillar of the Community
United States
672 Posts |
I dont think anyone is calling 4 boxes of pennies a month unreasonable... its more along the lines of 5K of halves a week, and wondering why they wont order anymore...
|
|
Pillar of the Community
United States
757 Posts |
yeah. probably, though, the ones who are getting 20 boxes a week in halves DO have like 100k in the bank and the bank would order THEM halves regardless, so while I agree with OP, I think there are likely extenuating circumstances to consider as well.
|
|
Pillar of the Community
United States
672 Posts |
I dont see the connection on how ordering 20 boxes of halves a week has anything to do with what is in the bank...
|
|
Pillar of the Community
United States
2335 Posts |
I'm not calling 4 boxes of pennies a month unreasonable but I am willing to do the math. If you maintain a balance of $5000 & they lend it out at 5% it is indeed $250 annually. If the bank is paying $4.75 to their supplier for each box & you get 4 boxes a month that works out to $228, leaving $22 profit. That's not much.
I'm not crying for the banks, they make plenty of money. I do believe that many roll hunters have a sense of entitlement that isn't justified.
|
|
Valued Member
United States
63 Posts |
Way I see it is get 'em while you can, if you can. If you find a vein of silver and want to mine it, go for it! Saying leave some for others (get one or 2 at a time) is like asking someone passing a wad of money on the side of the road to only take a few bux at a time so it will last or others will have a chance to get some. Not too realistic.
|
|
Valued Member
United States
277 Posts |
Should there be a limit on how many boxes you can buy a week? Maybe. I understand why some people get so mad about banks charging for rolls/boxes of coin. When you just look at your statement every month you see your 20k in the bank and you are getting like 7 dollars on it (if it is in a normal saving). Than you look at the car loans, and house loans you have with them and just realized you payed almost 1k in interest alone. It makes it seem more than unfair for them to charge for a box, but I also see how the cost adds up, and if you dump where you buy them (we all know that is a no no) than the cost is hitting them twice.
I also wouldn't blame the guys/girls that search 20 + boxes a week. When banks or any company look at how to improve profit they look to see what they can cut and what they feel is unneeded spending. I am sure they look at buying 100 extra boxes of coins as a waste.
|
|
Pillar of the Community
United States
672 Posts |
Well there is the difference... you view roll hunting as a profitable enterprise, and I would say 90+% of people here do it as a hobby, not a source of income. I don't hunt for profit, the amount of time I spend driving... dumping... searching...ordering...gas...etc. I would of been better of going to work, and just buying what I found.
I will say people have got into this hobby for profit, and they are ruining it(roll hunting) for people who do it as a hobby. Most of the long term hunters realise it is more efficient to work and buy what you want. The only people who are still "gung ho" about it all probably have just started and are still caught up in the I'm gonna be RICH! mentality.
Edited by Americanamafia
03/07/2011 4:44 pm
|
|
Valued Member
United States
364 Posts |
What Americanmafia just said. This is a hobby, not a way to make money. My time is way more valuable than the yield I get on roll hunting. But, I find it enjoyable, and it is a way to get the coins that I want through toil. You enjoy it more when you find it, or you trade/sell coins found to get what you want for your collection.
|
|
Moderator
 United States
189053 Posts |
While I commend the OP for starting out on the right path, these things always go off into the same-old same-old. Everything has been said... again.  |
|
Page 3 of 3
|
Replies: 37 / Views: 4,888 |
Page 3 of 3
|
First Page
Previous Page
Posted 03/07/2011 12:15 pm
