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Pillar of the Community
United States
1285 Posts |
Quote:
I picked up 28 boxes today but was informed that they couldn't order any more. FWIW, The bank may have HIT the "internal limits" on what they can order / hold in the "coin vault". Most banks will not say anything except cut you off. Also the head teller can get into trouble for doing such large orders. I wanted to place a large order a few months back and the manager stepped in and said they could not do it as the order will come under "scrutiny". |
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Valued Member
United States
146 Posts |
Ceylon62, it's funny you mention the word "scrutiny". I feel like I am being "interrogated" when I just pick up one or two boxes. It is simply beyond their comprehension as to why someone would need THAT many halves - so I usually make up a reason.
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Pillar of the Community
United States
623 Posts |
We should share our reasons! lol The banks I get my boxes from know I am a coin collector and I guess don't mind since 1. I only get a 1-2 boxes at a time and 2. I NEVER return the coins. However, my dump bank always wants to know what's up b/c of the amount. I just say "I am a collector." So far, so good!
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Valued Member
United States
63 Posts |
I just tell em the kids like to play with them...
Not too surprised about getting shut off there having got about 75 boxes from them. The online "paperwork" on 14k worth worth of coins involved several looks at my account number and a couple of my DL and my SS#... laughable, like I am doing nefarious stuff with weighty boxes of halfs...
Going to try another bank I deal with here and see if hey will order me 2-4 at a time just to keep my hand in it.
I reckon BoA is now my "dump" bank in this area, Heh, Heh. still want to pay the mortgage with halfs at one branch in particular given their less than pleasant demeanor.
Be safe
Patty
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Valued Member
United States
439 Posts |
Question.
I was in an area and got 3 Franklins. 2 from the teller and one from some rolls.
I was wondering if I should have a bank in that area order me a box or just stay where I am? Does a company like brinks have processing plants all over or just a big one and all the trucks come out of it. Can I zero in on an area and get "local" boxes from their coin dumps?
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Valued Member
United States
439 Posts |
You know Patty when a bank gives me a hassle or a dirty look or won't order for me I use them as a dump bank. Wether it be bills or coins. If you aren't with me you are against me.
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Pillar of the Community
United States
2424 Posts |
another reason I heard that banks may look at you under more scrutiny is that it may look like you are laundering money. lol I know right? maybe shorten your stack of coins by 1 or 2 each time and make a profit that way. at least that is what one teller told me. but I would assume we are all hard working honest people..
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Valued Member
United States
84 Posts |
Quote:
We should share our reasons! lol The banks I get my boxes from know I am a coin collector and I guess don't mind since 1. I only get a 1-2 boxes at a time and 2. I NEVER return the coins. However, my dump bank always wants to know what's up b/c of the amount. I just say "I am a collector." So far, so good! The best "reason" I have found to give the banks are that the halves are for (or from, to dump them) our weekly poker game. I just tell 'em that we prefer to use real coins instead of chips, and this seems to over pretty good. By the way (Patty and everyone else that searches large amounts of coins), the bank has to report to the federal government any (single) transaction (withdrawal or deposit) over $10,000 in cash, be it paper or coin. This law was passed about 15 years ago to try to catch drug dealers since they deal in large amounts of cash. Most folks don't know about this law---- |
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Pillar of the Community
United States
623 Posts |
I love the poker game reason! However, do they ever ask "why don't you just reuse the coins?" lol
Yep, $10,000 and over cash withdrawals have to be reported to the treasury. The last time I took $10,000+ out the teller was a total B about it. "Too much paperwork." Cry me a river...you're paid by the hour!
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New Member
United States
28 Posts |
Well I was skunked today in my search for silver. But however I did find 2 2010d and 2 2010p. And while I was at my dump bank the teller comes back and says she was looking through them. I told her I had already went through it and there was nothing there. then she asked where did I get them. I told her I could not divulge that information.
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Pillar of the Community
United States
1211 Posts |
Went by the bank again today. They had 9 rolls of halves so I bought them all. The rolls had marks on them (check marks and x's) so I assumed they were a dump.
Anyway, to my surprise:
1 1964
1 1966
3 x 1967D
3 x 1968D
1 1969D
1 NIFC 2002P
Add that to the 3 NIFC 2009's, 3 68D's, the 64 and the 67 I found a few days ago and I would say its been a good week! Not a bad haul for random roll searching.
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Pillar of the Community
United States
797 Posts |
With as many boxes as people go through over the months and years, especially with silver prices going higher, what do you think it an approximate estimate as to how many silver halveas are still out there to be found? I was just wondering how long do people think it will be until it is very rare to get a silver coin in a box of halves? Just thinking out loud....
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Valued Member
United States
84 Posts |
Quote:
With as many boxes as people go through over the months and years, especially with silver prices going higher, what do you think it an approximate estimate as to how many silver halveas are still out there to be found? I was just wondering how long do people think it will be until it is very rare to get a silver coin in a box of halves? Just thinking out loud.... Look back a few pages to a post that I made addressing your very question--- My wild a$$ guess is around 1/8 to 1/2 of 1% left in circulation, but maybe even less based on my hit rate searching boxes---about 1-2 silvers for every 1000-2000 coins searched--- Edited by Ferdyboy
12/15/2010 3:48 pm
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Pillar of the Community
United States
623 Posts |
I think it all depends on where you live. I live in a metroplex of over 6 million people. With economic times as tough as they are people are digging up whatever change they can and are either spending it or dumping it at the bank. As long as people keep doing that, you will see silver in circulation for a long long time. Plus, the 1965-1970 halves most people don't even know contain silver. Last week I found a proof Franklin in a box that looked like it hadn't been in circulation for very long. My guess is it went straight from dump/spending to the box I received.
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Pillar of the Community
United States
623 Posts |
One other thing...don't forget silver was $50/oz in the early 80s. All the coins we are looking for were around then too.
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Replies: 28,017 / Views: 2,318,200 |
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Posted 12/15/2010 07:29 am
