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 Replies: 18 / Views: 3,224 |
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Valued Member
 United States
161 Posts |
They were all in rolls, nicely placed in a box. There were no other customers in line behind me. I even felt bad about asking for some penny wrappers.
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Pillar of the Community
United States
745 Posts |
lizzyjo, is it worth the time to search $100 nickels? i see looking for dimes, quarters & halfs for the 90% silver, but even if you find a War Nickel its only worth about $1 |
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Pillar of the Community
United States
561 Posts |
Quote:is it worth the time to search $100 nickels? i see looking for dimes, quarters & halfs for the 90% silver, but even if you find a War Nickel its only worth about $1 Not everyone roll hunts for the profit that can be made. I would imagine that many, if not most CRHs do it for the enjoyment of finding a gem for their collection. I can't see how anyone makes enough "profit" CRH to justify the amount of time and hassle involved. |
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Valued Member
Australia
215 Posts |
My bank here in australia just has a machine that sorts coins. Pour them all in then it spits out a reciept to take to the counter for depositing
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Bedrock of the Community
United States
20753 Posts |
You have just run into what will soon enough be common everywhere. By me almost all banks have done away with coin counting machines. If you bring in any bulk coins, they are sent out somewhere to be counted. The results are posted in your account minus the charge for that service. NO account? Then they will send you a check for that amount now minus the charge for shipping, counting and also, now for the mailing of the check. And if your coins are rolled, there is an addition charge for opening those rolls.
Also, in many of the banks by me if you do not have a buisness type of account, there is also a charge for getting any bulk coinage from them.
Just to be an irritant I went to one of my banks where I have been doing buisness for many years. I handed the teller 10 dimes and said could I get a dollar bill for these? I was told the bank rules are they must be sent out for counting and the results would be posted in my account minus the fees for that service. Talk about utter stupidity.
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Pillar of the Community
United States
3294 Posts |
That sounds like Bank of America
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Pillar of the Community
United States
4212 Posts |
U. S Bank was the forerunner, I believe. Not only to order, but fees for returning them. Ask for a breakdown at the window, and I gaurantee you'll never go back. Even for notes, the same. Ditto for the rollers. At one point I always got a new cloth mint bag with my haul, but no more. I still say the only completely free venue is Money Tree check cashing. Just throw them a bone once in awile.
(buy a money order, or somthing) It takes just 36 hrs. for them to have your boxes. Downside is: no loose coins.
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Pillar of the Community
United States
561 Posts |
I have to agree that with the big banks you are probably going to see this become standard. At the same time, I think that you will also fewer and fewer brick and mortar branches anyway. The bigger banks are doing everything they can to discourage you from actually coming into a branch as much as possible. I understand why and I actually like it because I think it will do great things for the local community banks and credit unions.
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Pillar of the Community
United States
8520 Posts |
Fees are mostly the results caused by the greed of silver hunters. Partly to blame are the Lincoln searchers that pick up ten boxes a week and wonder why their tellers are getting upset. Yep, greed and OCD.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Valued Member
United States
259 Posts |
Quote:
I have to agree that with the big banks you are probably going to see this become standard. At the same time, I think that you will also fewer and fewer brick and mortar branches anyway.....
You have got to be kidding? There is an intersection in my town where, I kid you not, each of the four corners are occupied by banks. Recently a sporting goods store that had been there for 50 years was sold, torn down and replace with, you guessed it, a bank. The U.S. is incredibly over-banked, and I only see that trend continuing. |
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Pillar of the Community
United States
561 Posts |
Quote:
You have got to be kidding? Far from it. I am sure there will be some areas where there are more branches than others but the days of massive expansion of B&M's is over. In my opinion you may see more banks with a main branch in heavily populated areas and very few branches of that bank in neighboring communities. Quote:
The U.S. is incredibly over-banked I agree that we are incredibly over-banked which is why they will decline not continue to grow. Fewer and fewer people go into banks and even fewer of them are under 40. Most branches I visit are practically empty no matter when I go (customers and employees) and that is a huge cost in wasted resources. I know here in NE Ohio they are on a significant decline. Recently a regional bank announced that they are closing 30-40% of their branches and that they have been working on that plan for 2 years. Banks don't want customers, they want deposits. More and more people are doing everything on-line and not visiting branches, this is the trend that will continue. If you were opening a bank today why would you want to have even one branch if you didn't have to? You wouldn't. |
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Valued Member
United States
259 Posts |
Cheers MercMan. We must live in very different areas. Bank branches in D.C. metropolitan area keep sprouting like weeds. Some are the big well known banks, some are small local banks. Many bigger ones like Capital One, BB&T, Sun Trust, B of A, have multiple branches within a mile of one another. You go in there, and sometimes they are very busy and sometimes not at all busy. But usually the employees are all smiles: do you have a mortgage with us, do you want to refinance; what can I do for you today? Obviously customers want contact with real people and this model is profitable, or, as you suggest, the banks wouldn't do it.
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Pillar of the Community
United States
561 Posts |
You are probably right. In major metropolitan areas it may be different as the larger population may warrant more branches. I just don't see the overall number of branches nationwide increasing as more and more customers get comfortable with on-line banking and in branch traffic decreases.
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Valued Member
United States
397 Posts |
@lizzyjo: More and more banks are becoming like this. Some will say it shouldn't be like this, and some will say that the banks exist to serve you and shouldn't charge a fee. Debating it won't help you in your current situation however. Some tips I follow:
* 1. I always roll my coins for my bank before dropping them off. The banks I visit for coin roll hunting always seems to appreciate the fact that they don't have to count the coins themselves.
* 2. I also space out my visits to my banks. In your case I don't know how often you visit this branch but: Say you exchange $100 in nickels every Friday, that is at least 4 times a month this one branch has to process your coins. Now say you find another bank to to this with, and switch off between banks every other Friday, each bank only has to process your coins twice a month. I think this would mean that you would have less trouble getting coins to hunt through.
* 3. You can always politely ask the teller who raises an issue if it is a single branch policy, or a company wide policy, and then ask for the policy in writing for your records. If it is not a company wide policy but they say it is, they will not be able to produce anything in writing. If it is a local branch policy, you know not to visit that branch again. In both examples, I've had the teller admit that they just don't want to deal with my change, and they were bluffing about it being a policy. I got my coins, and I now know which tellers to avoid. In any case, the few times I've run across branches/tellers/managers who want to charge me a fee to dump/buy coins, the easiest coarse of action is to be polite, and leave the bank. And just wondering... did the bank say the fee was JUST for depositing coins directly into your account? Would you have to pay a fee to withdraw coins? Maybe turn this particular branch into a branch you pick up coins from, and dump the sorted coins at a different bank? |
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Pillar of the Community
United States
1770 Posts |
ray youre absolutely right about the greed of some of these "silver hunters" one bank I went to they said they dont order coin any longer for people without business accounts, obviously someone or more than 1 took advantage of ordering boxes like crazy its really unfortunate
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Replies: 18 / Views: 3,224 |
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Posted 05/30/2012 9:54 pm
