Dump Bank Giving Me A Hard Time...

I really doubt the bank would care if unfamiliar closed his account. I recall the CEO of Chase stating that they lose money on 70% of accounts less than $100,000 deposited. Those are regular customers, not one that buys and dumps boxes of coins every week.

Maybe it is just my bank or my good luck.

The bank I use has a coin counting machine. Every week I buy at least one bag of nickels or two bags of pennies which come from their machine and then run them back through their machine when I am done. I discussed this with the head cashier before I started and she had no problems with it - possibly since they were not ordering any coins for me. Brinks pick up their coin bags on Monday and Thursday so I take that into consideration on when I get what coins.

The other coins are in $1000 bags which is out of my price range even if I keep them for only a few days before depositing into my account. It is not the $1000 which is out of my price range, it is the cost of the divorce which would follow.

The best thing to do is to not dump at the same bank you buy the coins from, and to not rip the wrappers wide open. I find it so much easier and faster to open half dollar rolls by gently tearing open one end and pushing the coins out.

@MadMortician Since I always keep some coins I never deposit the full amount. Generally, it is pretty close. With the pennies I get about 3 dimes a bag. With the nickels, it is about 5 pennies. Only once did a bag of pennies come close to being a skunk. All of the coins were between 1960 and 2004. At first, I thought I had someone else's dump but then I began to look at the quality of the coins I concluded someone had been hoarding all of their coins but keeping separate anything that was pre 1960. In some ways it was the best bag I had gotten because so many of the pennies looked nearly uncirculated. Based on the coins that looked uncirculated I was estimating they had been saving the coins from the early 1990's to 2004.

With the nickels I average 2 War Nickels a bag so any shortage in the bag is more than made up by them. With the pennies, I get about 20 wheats a bag if I recall correctly. I have been just tossing all of the Canadian coins in a bag. When I got the 1941, 1942 and 1955 Canadian pennies in a single bag my granddaughter asked what years I had. To my surprise, I've got all but 7 years of Canadian pennies beginning with 1960.

I try to space my purchases to lessen the possiblity of my repurchasing the same coins. Only once have I repurchased some of the same coins that I know of. That time it wasn't hard to tell. I'm sure it was an auto repair shop that brought in the grease covered coins and other coins destroyed by something. My guess is he put the coins in an old antifreeze bottle. Even a 2012 penny was completely ruined. He also put the coin machine out of business for several days until it could get cleaned

@greenprint:



I always roll my coins back up before going to the bank. I think it overall saves time and keeps the frustration down from the tellers.

And as far as how I redeposit the coins, I usually never put the money directly back into my account. Usually after I've sorted and re-rolled the coins, myself or my gf run the coins to one of our dump banks to exchange for cash. I then take cash (either from the dump bank or withdrawing the cash from the ATM outside first), and go to my buy bank and get coins.

I use BofA currently too for all of this. And yea, it is really nice they will give you free papers for being a customer.

As far as your plan for dumping at a TD bank and buying from a BofA, shouldn't be a problem. Just remember:
- For every bank teller that gives you a hard time for dumping/buying, there is another teller that won't mind. For every branch that says you need to open a small business account to move coins like that/says they don't make money from you, there is another branch out there that won't give you a hard time at all. Never argue with a teller/branch manager. Always be polite, always make sure you ask the teller/manager to fully explain their point, and unless that branch is giving you boxes of silver every time it is time to find another branch to visit.
- The more bank branches you use, the less frequently they see you/have to help you, and the less likely you are to run into problems. If you are buying a box of pennies once a week, and only buying from one branch, that is 4 times a month they have to dig up a box for you. Now if you are visiting 4 different branches, that is only once a month each branch has to come up with a box for you. I'm not saying you need to have a map of branches around town, and a schedule of what branch to hit and when, but I am simply suggesting that if you have the opportunity to visit a branch you don't normally visit, it will be worth it to make a dump/buy there when you can.




Everyone is different in what they save and do. Some people save coppers hoping for the law to change, some save them to sell in bulk online to others hoping the law will change. Some people save EVERY penny hoping they will be discontinued and their value will go up. Really the best advice I can give to someone who is just starting out roll hunting: do and save what ever you find to be fun to look for/collect. I personally enjoy tossing coppers into my big water jug. In six months when the jug is to heavy to move and is breaks through the floor into the downstairs apartment... maybe I won't have fun saving coppers anymore and I won't. It just depends on your personal taste.

Here is the way I see it. The banks have been making a lot of money off us poor slubs. They charge fees for just about anything. I would make a huge stink. How many people are homeless because the banks used shady tactics in home loans. stink it up loud. this Is America if we want to deposit a million in coin they need to suck it up and do it. Thats what they do, use our money to make there money. they are not loosing any money you can bet on that. Money is money I would drop about 100 boxes of pennies on them and make it a point to dump every box of rolls I had on them till the see you were trying to be reasonable. Ok my rant is over

I would tell the story to a new channel, just to screw that manager out of the job. the are lazzzzzzzzy, called regional headquarters, write a letter to the bank CEO president and online reviews. the really look their reviews.