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Has A Bank Every Told You Not To Bring Any More Half Dollars Back?

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New Member

United States
38 Posts
 Posted 01/14/2019  6:39 pm Show Profile   Bookmark this topic Add jflournoy to your friends list Get a Link to this Message Number of Subscribers
For the record, I just started crh a month ago.

I ordered my first 2 boxes from a bank and then took them to my dump bank (location B). They took them and said they'd never seen that before. Then 2 weeks after that I did the same thing, took over another 2 boxes. Same teller and she told another lady (I'm assuming branch manager) and that lady told me she would accept them this time but if I was planning on bringing more then they wouldn't take them cause they didn't have room and they were too heavy.

Location A is where I take all of my loose coins cause they have a self serve coin machine in the lobby and it's free for members.

Location B is where I was planning on taking only half dollar boxes. I'd only done this one other time and the 2nd time they griped about it.



Does this sound like bunk or what? I just started this hobby and its been a great thing for me, but now it seems like its going to be shot down quickly.

On a quick rant, I see it as a part of their job. I'm a paying member (its a credit union) so they should provide me this service. It's not like I was going in 5 times a week and creating a burden. 2 boxes every other week, can't see how that would create an issue unless they are simply just that lazy.
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westernsky's Avatar
United States
7621 Posts
 Posted 01/14/2019  7:06 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
It costs them money to supply you with your hobby needs. Those needs are procuring you "unsearched" coins and disposing of your unwanted coins. Neither service is "free" to your financial institution. Why do you think it should be "free" to you?

I don't care if you are a cu member or not. I'd ask you to take your "hobby" needs elsewhere and say .. "Have a nice day sir."

"Can I help the next customer in line please?"

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USSID18's Avatar
5464 Posts
 Posted 01/14/2019  7:06 pm  Show Profile   Bookmark this reply Add USSID18 to your friends list Get a Link to this Reply
I understand your point. Don't make life more difficult for yourself. I have a location "A" just like you. That's where all my dump coins go. Just bring them there. Banks don't want to see these halves coming back. I can understand that, even though maybe they should take them back.

When I get boxes of halves from banks the first thing I tell them is; Don't worry, I won't bring them back. They will be more willing to work with you.
Edited by USSID18
01/14/2019 7:11 pm
New Member
United States
38 Posts
 Posted 01/14/2019  8:19 pm  Show Profile   Bookmark this reply Add jflournoy to your friends list Get a Link to this Reply
@westernsky and guess what, it costs me money to bank with them. Whether it be monthly/yearly minimum deposits, overdraft fees, auto loans, mortgage payments, ordering checks, etc. Plus whatever money you have in the bank they leverage. So that is why I should get this service of ordering/returning coins through them for free.
And if me taking in half dollar boxes is literally going to bankrupt their bank, than add a fee for returning it. Not only that, but they are a bank, they should be required by law to accept any US currency. It should be free because that's where I store my money, who cares what form it comes in.

@USSID18 I know. But thats still the problem. I buy from a different bank, then my dump bank has 2 locations and thats what I'm complaining about. Its not like I get the boxes from the same bank I dump them.

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silverwolf's Avatar
Canada
3733 Posts
 Posted 01/14/2019  8:45 pm  Show Profile   Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
take them back to the bank you get them from, with the self serve coin counter, what's the issue..
New Member
United States
38 Posts
 Posted 01/14/2019  9:19 pm  Show Profile   Bookmark this reply Add jflournoy to your friends list Get a Link to this Reply
They told me that half dollars get jammed in a lot so its better to roll them. Even so, that means every week I went in there they would have to change the half dollar bag since it only holds $1000.

I already dump ~$1000 a week in dimes and nickles there...so just trying to be nice and tack the half dollars somewhere else. Plus, I reroll the half dollars so its literally just accepting the box and putting it in the vault. I get its a slight burden to store it but they should be able to send it back with other coins.
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TJLang's Avatar
424 Posts
 Posted 01/14/2019  9:29 pm  Show Profile   Bookmark this reply Add TJLang to your friends list Get a Link to this Reply
One time I took back a bunch of Ikes. And a few days later one of the tellers was all happy and said look what we saved for you and returned them to me. I smiled and took them back again. Fun Times. The JFK's I just dump the rough ones in the coinstar like machine.
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ratman4762's Avatar
United States
2520 Posts
 Posted 01/15/2019  01:42 am  Show Profile   Bookmark this reply Add ratman4762 to your friends list Get a Link to this Reply
You're having the bank order you a pretty much obsolete denomination & returning the same thing (meaning the bank is paying to provide you with & ship back the half dollars). May be different branches but still the same bank. I suppose you'd be okay with the bank charging you to deposit your money & charging you for writing checks and withdrawing money from the ATM also? Banks & Credit Unions have shareholders and Members that expect them to turn a profit (not lose money). Be happy you haven't been asked to close your account.
I'm a roll searcher also. Haven't bought too many boxes of halves due to the burden of trying to unload and angering the banks I deal with. I actually had Suntrust Bank send me a letter informing that I had to close my account or they would do it for me. I was depositing roll coin into my account (NOT half dollars) & withdrawing cash the next day to buy more rolls. I guess they figured I was laundering money or something.....LOL.
I still buy halves but only customer wrapped rolls. I mostly search nickels now & have worked my way into returning my boxes to the same bank for "fresh" boxes. It doesn't cost the bank anything extra since they use nickels anyhow & what they get back is $100 of U.S. nickels since I remove all foreign & slugs (as well as the good stuff). It Works good for both of us.
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fistfulladirt's Avatar
United States
4333 Posts
 Posted 01/15/2019  06:47 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Those that are dealing in a few thousand a month in coin/cash deposits/buys, the teller is required to file a SARS report. (Suspicious activity.) Not as scary as it sounds, I'm sure, but routine.

If you are dumping coin locally, is goes back with the courier to be repackaged, and will be first in, first out when distributed. In other words, top of the pallet. You search a lot of the coin over and over. It's why some hunters travel and dump out of district.
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jbuck's Avatar
United States
188938 Posts
 Posted 01/15/2019  09:42 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Not only that, but they are a bank, they should be required by law to accept any US currency.
Legal tender laws only apply to paying a debt, not deposits.

Banks are a business, their goal is profit. Handing coin boxes has cost, this reduces profit. Some compensate with fees, others just eliminate that service.
New Member
United States
38 Posts
 Posted 01/15/2019  4:17 pm  Show Profile   Bookmark this reply Add jflournoy to your friends list Get a Link to this Reply

Quote:
May be different branches but still the same bank.


@ratman it is not the same bank as I've stated numerous times. I order from a different bank and dump at this CU that has two locations. One for only half dollars and the other for any other coins.
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Wade's Avatar
Canada
2781 Posts
 Posted 01/16/2019  01:57 am  Show Profile   Bookmark this reply Add Wade to your friends list Get a Link to this Reply

Quote:
that means every week I went in there they would have to change the half dollar bag since it only holds $1000.
I already dump ~$1000 a week in dimes and nickles there... so just trying to be nice and tack the half dollars somewhere else.
I get its a slight burden to store it but they should be able to send it back with other coins.


sooooo.... you're dumping 1000s per week.... sure dimes and nickles can be re-absorbed (painfully), but halves? c'mon... if you have ever been in business for yourself you would understand why you are not the most favorite face in the line.`
why? because you aren't a "customer"... you're a self entitled pain.
dump once a month, max, per location (advice, you need more dump locations)

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berto's Avatar
United States
840 Posts
 Posted 01/16/2019  4:34 pm  Show Profile   Bookmark this reply Add berto to your friends list Get a Link to this Reply
Open accounts at other institutions. I have accounts at 6 to spread out coin orders and deposits. Also consider occasionally taking the tellers cookies, chocolate, etc. so they like it when you appear in their lobby.
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hcmusicguy's Avatar
United States
814 Posts
 Posted 01/16/2019  6:36 pm  Show Profile   Bookmark this reply Add hcmusicguy to your friends list Get a Link to this Reply
I will chime in from the bank's perspective. Each box of coin that comes in from the armored service costs the bank money, and every bag of coin from the machine or boxes of rolled coin that are shipped out also costs the bank money. Other stuff like dimes and nickels can be circulated back out easily. But halves, as others have said, are an obsolete denomination that will not be circulated out except to a roll hunter. So they will either sit in the vault and take up valuable space or will be shipped out at expense to the bank. Now, mind you, this hobby is being supported with no financial benefit to the bank; nickels and dimes and such go out to business customers (typically retail) from which the bank will derive revenue. CRH does not generate revenue for the bank, only expenses.

In my own situation, I have very limited spare vault space, and have pretty much put the brakes on anyone ordering halves. For the time being I will still oblige on smaller denoms if I have enough stock, but we are also working on taking steps to discourage even that, and under no circumstances will I special order coin for customers unless they have a business account that it will be charged to. We have an ongoing problem with some CRH buying from us and dumping it right back in our machine which is costing the branch money on both ends.

The best thing I can liken it to would be to buying a pair of shoes, wearing them for a week, and then returning them to the store. The store cannot resell them, so they have to be sent back to the manufacturer or distributor where they will most likely be destroyed and written off. Now imagine the store having to deal with this from the same person every week or two. Multiply this by several people doing it regularly, and it's only a matter of time before the "all sales final" signs go up. Not a great comparison but it's the best I can come up with. Don't get me wrong, I know CRH is a fun and rewarding hobby. But, and sorry to be blunt, to the banks it is nothing but an expense and a hassle.
Edited by hcmusicguy
01/16/2019 8:11 pm
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USSID18's Avatar
5464 Posts
 Posted 01/16/2019  7:29 pm  Show Profile   Bookmark this reply Add USSID18 to your friends list Get a Link to this Reply
Excellent synopsis hcmusicguy from your side of the fence. You paint a grim picture. Looks like our half dollar roll searching days might be numbered. I'm thinking I have been pretty lucky to this point, to have been able to acquire these boxes without a business account.

On a side note: Are you or other bank employees allowed to take coins or currency of interest from the banks with an even exchange?

Edited by USSID18
01/16/2019 7:30 pm
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ty88ty2's Avatar
United States
772 Posts
 Posted 01/16/2019  7:37 pm  Show Profile   Bookmark this reply Add ty88ty2 to your friends list Get a Link to this Reply
I've got one main dumping bank with a coin machine. I will only dump cents, nickels, dimes and quarters there. I keep my max dumping limit to $150 a week but I usually only do around $75 and split up my change as to not impose a burden on the bank. I will not dump halves and dollar coins, in fact, I buy any halves and dollar coins out of their tills as well as a few rolls here and there. I spent them easily at stores elsewhere. The head teller there knows me well and is always happy to get rid of the extra halves and dollar coins and even two dollar bills when they stack up.
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