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 Replies: 76 / Views: 9,776 |
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Pillar of the Community
Canada
516 Posts |
What bank has 58 - 68 boxes on hand. I mean even if I went to all the banks in my town I would probably only get 10 - 20 boxes at most. That would be around 10 branches. And I bank I know would never order that many. They would reject me.
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Valued Member
United States
477 Posts |
QUESTION PLEASE ANSWER
How do you obtain such a large amount of coin in a week?
Do you just go up to a teller and ask for 4k in pennies or what?
I would also like to volume hunt but am unsure how you obtain so much in a week?
thank you for anyone who can help me!
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Pillar of the Community
United States
4897 Posts |
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Pillar of the Community
United States
8518 Posts |
Greenprint....go to the banks and ask THEM. Don't be afraid to ask a teller or bank manager.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Valued Member
United States
477 Posts |
well I ask BoA over a chat thing and they said it was fine to just go up and ask for a thousand dollars in pennies O.O
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New Member
United States
7 Posts |
Last Friday I went to BoA to get a box of pennies and seen a guy trying to buy $1500 worth they gave him $600 I'm guessing he had a sorter because that would take me a month too sort by hand.
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Pillar of the Community
United States
622 Posts |
Again, I can assure you that a vast majority of people are held back by the ability to purchase and dump coins, not the money. Even if you don't have the savings somewhere, you could easily play the balance transfer game, not pay interest, and use that money to buy coin. You could probably pay loan fees and still come out ahead. Oh, and most of us have just a tad bit of silver we could sale, if we needed the funds. But, again, that's not the problem.
Most of us that have been doing this for even a small amount of time have experience with banks cutting us off or at least backing us down a little. I've had good relationships with tellers at every bank I've went to. The fact still remains that it cost the bank money to dump coin AND purchase coin. The corporate or regional managers see when a branch is incurring fees because it cuts in to the profit margins they are working with. I know this FOR FACT. What has been proposed is possible but not probable. And I would say it is near impossible to still be happening 6 months down the road.
Some of you may write this off as the guy who's already on record saying he doesn't like it when people do things that destroy our hobby. I'm not writing this because I'm bitter...I'm writing it because several things in this thread just aren't adding up.
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Valued Member
United States
366 Posts |
I find the bottleneck for this hobby lies in ordering/returning. Get around this problem and it's just time/money which can become the next hurdle.
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Valued Member
United States
477 Posts |
that's why I try to do dimes the most, they take up less space and weigh less so it probably has less shipping costs for them or something
i can do a box of dimes in the matter of 15-20 minutes
i think the best thing to do may be to drive around to several numerous banks far away lol
Edited by greenprint
06/27/2012 04:16 am
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New Member
United States
9 Posts |
I've read this forum for a few days, and decided to join today specifically to post int his thread. While I don't do 50 or 60 boxes a week, I have averaged over 30 boxes a week for the last 12 calendar months. I have 4 different banks (6 banks total) that order from 4 to 8 boxes for me weekly. The two that order 8 boxes a week for me would order me 20 boxes if I wanted that many. I do not date search or look for errors, so a box takes me about 8 minutes (closer to 10 minutes if there are multiple keepers).
In my opinion what volume ordering comes down to is that some banks pay their armored delivery services per box (these would be more worried about fees), and some have a flat rate where they pay the same fee (probably monthly) no matter what they order. I can tell which type I am dealing with pretty quickly based on any hesitance they show about ordering. Vault space can be an issue too, but if you be there when they tell you to pick up there should be no problems.
As for dumping, about 20K per week is my limit, but I could probably get rid of 25K per week fairly easily if I had to. It's all about not being lazy. This is a hobby that you must be ready to put time and legwork into if you want the rewards it can sometimes yield.
If anyone has any questions about volume searching, or would like expanded answers about anything above (to a degree), just ask.
Regards.
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New Member
United States
17 Posts |
Welcome, Half Dollar Boxes! So, what is your average findings of silver per month?
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New Member
United States
9 Posts |
Thanks for the welcome. So far for the first 26 weeks in 2012 I am average just over 13 ounces a week. July and August were slow last year, but from Sept. to Dec. more than made up for it. Hoping for a repeat this year.
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Valued Member
United States
125 Posts |
That's pretty good HDB. My friend and I both sort and haven't found anything nearly as good as your yields. Hope they continue.
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New Member
United States
17 Posts |
Great finds, Half Dollar Boxes! How much time would you say you dedicate per week to searching? And, do you roll your coins for dumping or bag them?
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New Member
United States
9 Posts |
I would guess 20 to 25 hours per week, which would include the pickup, the search, and the dump. I do not roll or bag my dumps. Straight into the machine for cash.
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Replies: 76 / Views: 9,776 |
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Posted 06/25/2012 11:48 pm
