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 Replies: 20 / Views: 12,237 |
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Valued Member
United States
477 Posts |
Hi,
I'm not exactly sure how you guys dump coins. The BoA in my town have no coin counters, tellers count by hand for free. I don't like paying coinstar fees. I would feel pretty bad giving a teller several thousands of pennies to count. That's just unethical. I reuse the penny rolls that they come in, the machine ones were you can see the bottom and top penny in the roll, there not the hand rolled ones. I just unwrap the rolls without ripping or damaging the paper and reuse them. The problem is that you can't really reuse them in the sense if I tried to give them to the teller it would be clear that I reused them and they weren't machine wrapped despite being in machine wrapped rolls. I can't really reroll them like the bank does. You can't see the bottom and top coins. I have to fold the tops and bottoms over the coins so that way the rolls won't unroll themselves. Do you think the teller will take my reused rolls of pennies?
Any help and advice would be great. I wouldn't want to dump several thousand coins on the desk of a teller and ask her to count them.
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Pillar of the Community
United States
1620 Posts |
I just use the coinstar because I'm in the military and my bank has only one branch in Texas and I'm in Alaska its not like your really losing that much money in the end especially if you have a good turn out.
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Pillar of the Community
 United States
2362 Posts |
Coinstar has a growing list of gift cards that you can get without paying the fee - Amazon, CVS etc. Member ANA and EAC "You got to lose to know how to win". Dream On by Aerosmith |
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Pillar of the Community
United States
3283 Posts |
My teller takes my rolled coins (reused wrappers) without batting an eye. She recognizes me though and the most I've brought in is 20-25 rolls
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Pillar of the Community
United States
1704 Posts |
First have you gone through the coins for the pre 1959 cents with the wheat ears on the back? If not, then I would recommend you do that first before re-rolling them. Yoy shouldn't have any problems taking in 15-20 rolls to the bank at one time. Most people don't know cents are legal tender only in amounts up to $5.00 per federal law. You can always take a roll or two in your vehicle and use them when paying cash for something. Most merchants don't mind taking a roll or two in a transaction. Ed ANA LM-3175 |
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Pillar of the Community
United States
3294 Posts |
In the US, cents are legal tender in any amount.
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Valued Member
United States
259 Posts |
Quote:
In the US, cents are legal tender in any amount.
And your point is?  Edited by chasinva69
06/03/2012 6:11 pm
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Pillar of the Community
United States
3294 Posts |
I was refuting the bad information proffered by the poster above me. What is your point?
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Bedrock of the Community
United States
20753 Posts |
With BoA they are developing some real nasty rules. And if you don't like them, just go elsewhere. By me all BoA and Chase banks have done away with coin counting machines. Now you bring in coins, they are placed in a plastic bag, sent somewhere for counting. The end results are posted in your account. And there is a fee for that service. NO account. They send you a check and there is an additional fee for that too. I suggesst you place all your coins in a USPS flat rate box and send to me. You pay postage and you will no longer have that problem.  |
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Bedrock of the Community
13014 Posts |
Carl I've heard about that as BOA is pretty famous for trying to get every last fee possible out of customers. Not sure why anyone who has a choice uses them at this point.
At least by me the Navy Federals all have coin counting machines with no fees where you could dump them all if you wanted to. I'm sure some banks dont want them to prevent roll searching as it does cost them money, but they could always say if you want to search well order for you but youll be charged a 20 dollar fee for it whether you bring the coins back or not.
Seems it would just be easier to have an upfront reasonable fee people could pay where they could then just take it home, search it and bring them back as opposed to dumping them all over the place to unload what they dont want
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Valued Member
 United States
477 Posts |
I still don't see you guys do like 100 dollars in cetns a week, if you only go to the bank with 20-25 rolls each time you go to the bank. Do you guys really use coin star? I'd rather not because of the fee. Can you explain how you guys manager to search 100 dollars or more in pennies in a week and how you guys deposit back into your account so much money in penny?
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Valued Member
United States
259 Posts |
I wasn't able to confirm that cents are legal tender only up to $5.00 per federal law (as claimed by Gyrene 7483). That said, the issue of legal tender is irrelevant when it comes to the issue of this thread - whether or not a bank has to accept a deposit of cents without charging a fee for that service.
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Pillar of the Community
United States
622 Posts |
greenprint, you're making this way harder than it should be. You can easily do $100 in penny's if you have several dump banks, or one good one. The people you hear talking about dumping a roll or two aren't the people searching hundreds of dollars per week. I can take any amount of coin I chose to BofA. They will count and deposit WITHOUT A FEE. Some BofA's have different policy's. The point is that it just depends on where you are and how much effort you're willing to put in at the beginning. Have you checked every bank within 10 miles of you? If not, why? Maybe they take coin for free. Every one of your posts takes the extremes of everything you can imagine that is WRONG about CRHing and accentuates it and its like you never read all the posts that tell why its possible or enjoyable for most people to do.
OO
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Valued Member
Canada
89 Posts |
I would go in and ask for $25 box. Take it home search it, rewrap, then return it to the bank and exchange it for another. My bank then takes the coins I sorted and distributes them to the businesses. very low chance of getting my own searched coins. I also am on the call list (3 of us) for Half and Silver/Nickel dollars.
Good Luck and HH
Dave
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Moderator
 United States
188213 Posts |
Quote:
In the US, cents are legal tender in any amount. True, but that legal tender status only applies to settling a debt. A bank can refuse them for deposit, in any amount they see fit. People may have been confusing bank policy with legal tender status. |
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Pillar of the Community
United States
1770 Posts |
owass makes a great point , you are making it sound harder than it is like I stated in another post test the waters green try out a box and just ask for wrappers and you count out to 50 and then return what you dont want ( chances are you will probably keep a few 100 of them if you want to sort copper wheaties etc ) so thats about 17-25% you will be keeping
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Replies: 20 / Views: 12,237 |
Posted 06/03/2012 09:50 am
