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 Replies: 34 / Views: 6,626 |
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Pillar of the Community
United States
1200 Posts |
The large regional commercial bank where I have one of those top-end "preferred" (?) checking accounts has been getting less and less hospitable
toward my CRH activity for some time. They haven't started charging any of those game-ending per box bank fees yet and they haven't refused to
provide boxes of coin yet, but I'm getting the feeling that one of those things is just around the corner. The atmosphere is kind of like the way the
weather feels when a monster thunderstorm is only about 15 minutes away.
My CU just told me today that they're no longer providing bank boxes of coin for members (unless it's for a business account). Wow! "Credit UNION?"
"Membership services?" Not so much any more, evidently...
Now I have to go trotting around the area next week, looking for the increasingly elusive CRH-friendly bank. I think I can see how this is going to go.
I'll have to pretend I need to open up an additional checking or savings account and then try to subtly slip in some CRH-related questions about
getting boxes of coin. They're going to figure out my game quicker than a bunch of customs agents jumping on a stoned, paranoid narco-mule who's
white as a sheet and sweating bullets while coming into JFK or LAX.
So... just out of curiosity... What's the level of CRH-friendliness like at your banks or CUs these days? Does the end of the game seem to be looming
up on your horizon the way it seems to be on mine?
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Pillar of the Community
United States
4333 Posts |
It's the career roll hunters that will ruin it for all. It's strictly hobby for me, as it has been for 35 years. I only search around $50k a year, I know some that search that much or more in less than one month. The bankers I deal with are friendly because I'm not over the top, I already have a full-time job, and it's not roll hunting.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Moderator
 United States
188151 Posts |
Quote:
My CU just told me today that they're no longer providing bank boxes of coin for members (unless it's for a business account). Wow! "Credit UNION?"
"Membership services?" Not so much any more, evidently... How do the other CU members feel about paying for your CRH hobby? At least they are trying to save the membership some money. Maybe your dividends will go up or loan rates will go down (do not hold your breath). To answer your question, yes, the CRH hobby is dying a slow death, which is why I have been reluctant to start doing it again. With that said, enjoy it while you can.  |
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Valued Member
United States
180 Posts |
I have zero issues with my bank or CU. If I want boxes my bank will order them for me. Now my CU has never been able to order boxes but if I want a $50 bag of pennies from their coin counter they will give it to me if they have it.
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Pillar of the Community
United States
4212 Posts |
I wont elaborate, but you're over-looking other sources.
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Pillar of the Community
 United States
1200 Posts |
Jbuck---How do the other CU members feel about paying for my CRH hobby? Probably about the same as how the other customers of my commercial bank feel about paying for my CRH hobby -- which is they couldn't care less. I hunt an average of two boxes a week, so the operational cost of my CRH hobby isn't exactly "breaking the bank" (no pun intended) for a CU with >40 branches, a large central office and hundreds of employees. Ditto for my commercial bank, which has hundreds of branches and thousands of employees in an area of several states. The amount of money my CU will save annually by not providing boxes for me is statistically insignificant and it'd still be statistically insignificant if it was multiplied by 100. That savings won't result in lower loan rates or higher dividends any more than the cost of a single mirror will impact on the General Motors annual statement. |
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Pillar of the Community
United States
1053 Posts |
So far my bank has been good about it...
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Pillar of the Community
United States
543 Posts |
Does the talk of a slow death to CRH stem from a lack of interesting finds or a lack of willingness for banks to distribute rolls/boxes?
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Pillar of the Community
United States
950 Posts |
I am always very careful about how much I ask for, and some branches make it seem like even the simplest request is way too much to ask, and others even offer me more than what I ask for and save things for me that they think I might like.
I have learned that cookies and cupcakes work wonders when you want something.
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Moderator
United States
188151 Posts |
Quote:
Jbuck---How do the other CU members feel about paying for my CRH hobby? Probably about the same as how the other customers of my commercial bank feel about paying for my CRH hobby -- which is they couldn't care less. If they knew it was affecting them, they would. But you are right, most of them probably have no idea and the few who do are probably CRH as well.  Quote:
The amount of money my CU will save annually by not providing boxes for me is statistically insignificant and it'd still be statistically insignificant if it was multiplied by 100. That savings won't result in lower loan rates or higher dividends any more than the cost of a single mirror will impact on the General Motors annual statement. Well, ask them how much it costs to handle these boxes. If the cost is, as you say, insignificant, then offer to pay that cost. If you do not want to pay it, then you really cannot ask them to pay it either. If their boxes have been a good source in the past, then it may be worthwhile to pay a little extra for them. The worst they can do is say no, right?  |
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Pillar of the Community
1751 Posts |
I do $7k a week and don't worry about the pickup banks... they're a dime a dozen. It's the good dump banks you need to keep an eye on and gauge their reactions and how they're feeling about things on a regular basis. Very, very tough to replace a good dump bank.
By the way, I got your email Freddy, sorry I haven't responded yet!
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New Member
United States
21 Posts |
I just think that with CRH also comes bank / credit union hunting. I find its all part of the "game", if you will. I find having a strict "dump only" bank, and making it clear to your supplier bank that you will not be dumping coins, makes the process that much easier.
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Pillar of the Community
United States
1200 Posts |
jbuck---I seriously doubt that the dozens of thousands of other CU members would become agitated by my CRH activity having cost them each some small
fraction of one cent per year. Paying for boxes is an option the CU didn't offer me--they just discontinued providing boxes (to non-business members) without
offering any options. CU's are "member services"-driven organizations and they just arbitrarily discontinued what's been one of the provided member services
(which is their right, although the more services they discontinue, the less attractive and competitive they make themselves). At this point, offering to pay for
boxes would be like offering to pay for the privilege of using their parking lot (another member service that's been provided free of cost so far and which is also
provided without charge by all their commercial competitors). Not in this life...
FTB & skizza---You've given me a new perspective and a good idea here. The CU just became my new dump. I always deposit at least several hundred dollars
monthly in my savings account there. From now on, all those deposits are going to be in hunted, rewrapped coins. In fact, my deposits may even be getting a
bit bigger in the future.
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New Member
United States
26 Posts |
My bank has 4 branches within 5 miles of my house. At one of them, the closest, there is a b**** of a teller that is always there when I go there. She specifically asked me what I need the coins for, Am I running a business? Once she figured out I was a collector she told me it cost the bank a lot to box and wrap coins. So the manager and tellers at that branch are watching out for me. Now I just use that branch for ATM and cash deposits and withdrawals. Fortunately the other 3 branches in the area will gladly provide me with a few boxes, the managers don't say a word, the tellers don't have a problem.
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Pillar of the Community
1751 Posts |
If you guys are having problems, go to the IRS website and create an EIN specifically for banking use and open a business account. If you do 20+ boxes a month, $10 in fees is nothing to spend on a hobby...
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Valued Member
Canada
258 Posts |
In Canada I feel CRH is dying faster than in the USA. That is primarily because of the "Alloy Recovery Program", wherein all banks are compelled to turn over to the mint any coins whose metal content is greater than their face value. This and the elimination of the penny is very quickly destroying the CRH hobby here in my opinion. I've found most banks are unwilling to bend this "rule" and have had big silver scores denied me because of the ARP. This has greatly reduced the fun of hunting for me because after a few of these disappointments the fun of hunting is diminished severely. I still have fun hunting through nickels, but I can't see CRH being worthwhile in a few years over here.
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Replies: 34 / Views: 6,626 |
Posted 08/16/2013 5:25 pm
