| Author |
Replies: 51 / Views: 6,907 |
|
Valued Member
United States
370 Posts |
I would just ask the banks but don't want to hear something like a couple boxes a week
Reading other threads I have seen where people are picking up so much that they actually go to the vault to help carry it out. I have read others where they say they use a folding hand truck to haul out their coin. I can pretty easy carry 4 boxes at a time and have kind of limited to asking for 4 when they order for me, but how much is too much to ask for?
|
|
|
|
Pillar of the Community
United States
1200 Posts |
I haven't run into a "too much" threshold yet, but I only order 4 to 8 boxes at a time and the bank people I order through and pick up from know me personally. I know other CCF CRHers pick up 15 or 18 boxes at a time but they also have solid, well-established working relationships with the bank branch staff.
If you're just starting out (?) I'd suggest visiting the bank where you intend to pick up, finding out who does the actual weekly coin ordering (usually a head teller or some such thing), introducing yourself to him/her, explaining what you want to get into doing and finding out how it'd be easiest for them to do it. The two HTs I deal with at the two banks where I pick up prefer advance phone call ordering for pick-up about a week later.
|
|
Valued Member
 United States
370 Posts |
I kept asking at one of my banks that I am in several times a week for my business and they would always accommodate me when they could and then asked if I could order so I told them 4 boxes of pennies and they get 2 deliveries a week so 8 boxes total a week from them. I have a bit of cash right now so I could have more in rotation than I could probably go through but don't want to ruin a good thing.
|
|
Pillar of the Community
United States
4333 Posts |
I've heard of people currently ordering $25K+ a week (50 boxes). Their orders are spread out over several banks. The bank will let you know if you are pushing it. Or, they will cut you off completely after a half-dozen orders. And, everything in-between.
When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72
|
|
Valued Member
 United States
370 Posts |
I wish I could get this stuff bagged, have only been able to pull one bag, and it was canvas, it was going in to be counted. When I was straightening stuff out at BofA today I saw some bags and asked I could buy those, they said no they were customer returns and they were going in to be counted and that I could also return coin bagged the same way.
|
|
Pillar of the Community
United States
2589 Posts |
My advice is to not push them to far, I know that the regional manager of TD Bank in my area instituted a policy banning all branches in the region from ordering half dollars. There had been several fellows ordering dozens of boxes a week from one branch and dumping them at a different one. Roll searchers with some minor exceptions do not provide any financial incentive to the business side of banking, rather they incur losses to the bank. It costs money to order and have coins delivered and even more money to have them shipped to a logistics firm after they are deposited again.
|
|
Pillar of the Community
United States
4333 Posts |
Quote: Roll searchers with some minor exceptions do not provide any financial incentive to the business side of banking, rather they incur losses to the bank. If only they (the bank) could find a way to cull the silver and sell it back to customers. I would probably pay towards spot (and reap numismatic rewards on some coins). Hey, better than nothing at all.
When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72
Edited by fistfulladirt 01/02/2013 5:52 pm
|
|
Pillar of the Community
United States
1200 Posts |
@xavier---Your post about the feverish half-hunters in your area is absolutely riotous. Thanks for a good laugh and for validating one of my pet theories.
I've done several posts in different threads theorizing that over-CRHing (NOT The Evil Brinks & Etc Conspiracy) is one of the principal causes behind the pool of circulating coin (most particularly halves) having been sucked nearly dry of silvers. Other CCF participants have pooh-poohed my theory and generally favor putting the blame on Brinks and the rest of the courier services.
Your story about the MT Bank not only validates my theory -- it demonstrates that CRHing is at some times/places being so over-done that it's even irritating the banks to the point of compelling them to put new coin-related policies in place. Irritating a corporate organization so sorely that the irritation reaches the level of inspiring new policies being designed and implemented is some pretty serious irritation indeed. Moving a corporate organization out of its comfy status quo posture and into action takes serious effort.
Thanks again for the laugh and far more importantly for the very serious validation of my theory.
|
|
Valued Member
United States
67 Posts |
Ya. I asked $500 in nickels a week and $100 in pennies a week and got 2 weeks worth then got told to go fly a kite.
|
|
Valued Member
 United States
370 Posts |
well I just ordered 2 boxes halves, 10 boxes pennies, 4 boxes dimes and 4 boxes nickels from chase, a teller had just taken in 480 in CWR and I said "sell them to me so you don't have to count them later, she did. I ordered 8 more boxes pennies from another bank, and ended up with another 404.0 in CWR of mixed pennies dimes and nickels from the CU. in all I picked up about 1400 today........ now if I could just figure out how to get brinks to drop off and pick up.
|
|
Pillar of the Community
United States
1388 Posts |
I bought one box of halves, a couple nickel boxes, a couple of pennies and one of dimes (over two months!!) then got accused of money laundering. My other bank looks for silver, but they know me well and I can still get pennies from there. I'll take it. TSS 
Edited by The Silver Searcher 01/02/2013 8:18 pm
|
|
Pillar of the Community
1751 Posts |
Just ask. Most will be honest and upfront and say this is what they're willing to do. One bank said they could accommodate up to ten at once!
I do 6 boxes at 3 separate banks, per week, plus 2 and 4 from other banks. A few banks will only order me one at a time... no thanks. 2 or more only.
40-50 a week here.
EDIT: Xavier, where are you located? It's actually TD policy across the board, everywhere, to not order halves.
Edited by FadeToBlack 01/02/2013 8:30 pm
|
|
Valued Member
 United States
370 Posts |
|
|
Pillar of the Community
United States
2589 Posts |
I live in northern new jersey, I used to work for TD and personally knew individuals that were ordering well over 30 boxes a week from different branches combined. I never have ordered boxes outside of the new york/new jersey area so I didn't know that the policy was nationwide for them (i stopped working for them over a year before they instituted the policy). Most of the companies branches in my area are also extremely reluctant now to order even pennies or nickels if they know they will be used for coin roll searching. Besides the cost factors of ordering and processing the huge amounts coin half dollar roll hunters were using, the huge volume of roll searching was causing other problems. Each branch can ordinarily only carry up to a certain dollar amount of cash per logistics order, for some branches ordering ten thousand dollars in coins a week for a roll searcher cuts severely into the already tight cash budget that a branch has limiting the amount of 'useful' money that a bank can give out to its customers.
As for culling, no logistics company culls silver (though some of employees of such companies may do it unofficially and against company policy). At TD Bank, it is against company policy to cull any coins from the counting machines (though some tellers do it anyway) but most branch managers will allow tellers to buy silver from their coin trays if someone happens to deposit it over the counter/find it when they open a roll.
|
|
Valued Member
 United States
370 Posts |
gal at the bank today said it cost them 5 dollars to order a box of pennies, don't know if it's true but that would add up fast with a few CRH at your bank
|
|
Pillar of the Community
United States
8515 Posts |
If I order from US Bank it costs five bucks a box.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
|
| |
Replies: 51 / Views: 6,907 |