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 Replies: 21 / Views: 3,474 |
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Valued Member
Canada
258 Posts |
I know it sounds pessimistic to say, but I believe the door is quickly closing on coin roll hunting in Canada as a worthwhile pursuit. I am sad that I am so late in getting in the game. Here are my reasons for believing this is the case.
1) The elimination of the penny. Banks do not give them out anymore, unless you are very lucky and have a really nice cashier. The supply of pennies to be had from commercial establishments is almost exhausted.
2) The Alloy recovery program is quickly eliminating all coinage produced before the year 2000. Already in the last month I have seen a drastic reduction of nickel rolls that contain pre-2000 coins. In fact, I have seen a stunning rise in post-ARP garbage rolls at many of my regular stops. Some banks are not even worth visiting anymore as all they have seem to be new 2012 rolls are post ARP garbage.
3) More and more banks are refusing to sell fifty or old dollar coins at face value, whether they be nickel or silver varieties. Just today, a teller refused to sell me 37 silver dollars that were supposedly destined for the B of C. Not sure I believe the story, but I am not yet sure I am willing to tell the whole story about that as I suspect there was some shady happenings in that instance.
4) I have my number at all of the banks in my area of town and was told they would call if anything interesting comes in. Not a single call in many months.
So there you have it. The supply of worthwhile coins still out in the wild here in Canada is quite nearly completely exhausted and if you are lucky enough to find some, you have to get past avaricious bank tellers and rule bound managers. Doesn't bode well for our hobby if you ask me. I envy American coin roll hunters. As my name suggests, my main focus is nickels as I find that is the only denomination that has anywhere near a good enough ratio of interesting finds to make it fund and even there the stock is depleting fast. I say by this time next year, it'll be pretty much drained too.
Sorry for sounding so negative but I've had a really bad day. If you had the find of a lifetime stolen from you, you might be a little peeved too.
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Pillar of the Community
Canada
3167 Posts |
I did used to search some rolls of pennies... but that was when you could get them. I guess I should try some quarters one day...
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Pillar of the Community
Canada
519 Posts |
My plan is to get what I can while I can and hold on to it for a while. Then hopefully the Alloy Recovery Program will help increase the value as supply cannot keep up with demand.
I like searching nickels more than pennies but I am focusing on pennies right now while I can still get them. Although I have also been having problems with boxes of nickels. Here in Southern Ontario it seems like there are a few companies aside from the Mint that are actively removing the nickel nickels.
I haven't had problems with tellers though. Today at TD the teller told me about the nickel dollars they had without me asking about it which was nice.
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Valued Member
 Canada
258 Posts |
I'll tell you what happened. I was just about to get my silver dollars when a teller two wickets over demanded to see the coins and grabbed them from my teller. She rifled through them and as soon as she saw the silver told me that the bank would not sell them to me. She tried to appease me by offering two 2002 half dollars. She knew exactly what she was doing. I brought it to the branch manager's attention the unprofessional and unethical practice of said teller. While the manager was kind she told me that she was bound by the rules to send it back to the mint. I suspect this teller was collecting all the silver that came in to the branch because there is a convenient silver buyer in the very same mall and by her behaviour I knew what she was up to. She zeroed in on that silver with what I would call a very experienced eye. So yes, I had 37 silver dollars taken from right under my nose that I would have had for face value. That would be the find of a lifetime by my standards. Well at least she won't be getting them either.
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Pillar of the Community
Canada
4227 Posts |
Yeah, that's a pretty sleazy move. Without doubt, if I had accounts there, they would be gone, as much as a hassle that would be.
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Valued Member
Canada
258 Posts |
I was thinking about closing the account but there is another branch of the same chain where I have a good contact.
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Pillar of the Community
Canada
519 Posts |
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Pillar of the Community
Canada
3049 Posts |
This happens from time to time.... One bank that I "pick" at ... the business wicket teller there will always call me when interesting coins and any older bills come in.... however I know that she holds any foreign coin & notes for another individual there. I'm okay with that..
I have seen other tellers put "aside" silver coins and then tell me to my face they had none.... I hear ya man.. it sucks it's a slap in the face but know that there's nothing you can do that will get them to change right then and there... I feel it's always best to leave the situation with a cool head and integrity intact.
Know that most of these bank run opportunities for silver are few and far between now a days... You're far better off changing your tactics and figure out how to get a hold of the coins... BEFORE they get to the bank.. ;)
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Valued Member
Canada
258 Posts |
The bank in question is the RBC at Westgate Shopping Centre in Ottawa.
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Pillar of the Community
Canada
2805 Posts |
I'm in Ottawa right now and it seems coins circulate much faster here. Already I've found three 2013 loonies that I hadn't found any of for 6 months in Edmonton...
But - remember, we'll always have America!
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Valued Member
Canada
258 Posts |
@nalaberong:  |
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Moderator
 United States
187702 Posts |
Quote:
But - remember, we'll always have America! I hate to say it, but CRH is dying in the US as well; even if most Americans do not realize it yet. Canada is, as per usual, ahead of the curve.  Increasingly, banks are realizing that CRH costs them money. They have been increasing fees and/or turning people away, and are well within their right to do so. The end is inevitable, but I wonder if that end will be hastened when (not if) we discontinue our cent. All I can say is enjoy it while you can, because at some point in the nearer-than-you-think future, we will only be able to tell stories about CRH. |
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New Member
United States
37 Posts |
im getting charged $3.00 a box to turn in halves
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Pillar of the Community
Canada
2805 Posts |
I meant American coins in our rolls - especially with favorable exchange rates and (hopefully) the upcoming dollar coin regime. I had lots of fun finding State Quarters in Canada, because they were challenging to find... (except in spring, when the migrating Canadians return with pockets aweighted) |
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Pillar of the Community
United States
621 Posts |
Quote:
"I hate to say it, but CRH is dying in the US as well; even if most Americans do not realize it yet.
Increasingly, banks are realizing that CRH costs them money. They have been increasing fees and/or turning people away, and are well within their right to do so. The end is inevitable, but I wonder if that end will be hastened when (not if) we discontinue our cent. " That can be worked around in some places for quite awhile imo. You just need to have rolls ready to trade them for (an account there certainly never hurts.), around here customer service is a real biggie still and since it doesn't cost them much more than a minute of their time to trade them a lot of places that wont sell coins for face have agreed to a trade for me. if I absolutely needed to another option is I could get where I work to get them for me. the banks around here don't charge business accounts for their change orders. I'm sure a lot of other people have jobs they could use to get rolls still. I do agree the end is inevitable at some point in the near future for free large scale roll hunting, but I don't think it's going to be in my lifetime(im 26)for the more casual roll hunting, probably not in my kids lifetimes either. I'm happy I wont be alive to see it happen, it'll be a dark sad day. |
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Valued Member
United States
75 Posts |
I think physical money will be phased out in our lifetime so unfortunately yeah, CRH will die soon.
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Replies: 21 / Views: 3,474 |
Posted 07/02/2013 9:24 pm
