Getting The Run Around. - Coin Community Forum

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Author	Replies: 4 / Views: 1,141
MorgansRmine Pillar of the Community United States 1219 Posts	Posted 01/03/2008 5:19 pm Not an avid roll searcher, but enjoyed going thru the 5000 I picked up at the bank. Decided I'd like to try another 5000 of new cents. Can't get them. The bank tells me they have no control over what condition the cents are in when they order. They advised me to talk with armored delivery services. Called Brinks, Loomis and Dunbar. All stated they have not ordered from the Federal reserve in over a year and couldn't sell to me anyway. Only service banking institutions. Willing to take the ride to Richmond Virginia Federal reserve, only they don't sell to the public, only to banking institutions. Any suggestions? Report this Post to the Staff

jbuck Moderator United States 187702 Posts	Posted 01/03/2008 5:48 pm The fact that they have not ordered any in over a year is just more evidence the cent has outlived its usefulness. I think after 2009 they should go out on top and exit gracefully. But I digress... My wife's aunt gave me a HUGE box of "change" (mostly cents, more evidence, hehe) she had been hoarding since around 1988. Still going through the sorting process (some wheat; copper v. plated done, red ones separated out as well; moving on the year and mint next). Which brings me to my suggestion for you! Not sure what exactly you are looking for, but I have seen suggested here in the past to put out an ad looking for change jars. Most people (like my wife's Aunt) do not know what they have in their hoards dating back many years. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
halfabustisbetter Pillar of the Community United States 1984 Posts	Posted 01/03/2008 5:48 pm Find out what it takes to incorporate as a bank. This looks like it has some good info: http://money.howstuffworks.com/bank5.htm Report this Post to the Staff
mahgobbi Pillar of the Community United States 549 Posts	Posted 01/03/2008 5:54 pm That article made me chuckle a bit. It's interesting and factual, but it makes the process of chartering a new bank seem like a quick and easy process. As a former FDIC bank examiner who worked on numerous de novo bank applications, I can say the process is anything but simple!! Report this Post to the Staff
chevrolet454ss Valued Member United States 314 Posts	Posted 01/04/2008 2:14 pm On brand new coins like 2007 denver bu coins. To tell you truth they very hard get. Last year I bought over 25 boxs of pennys from banks. I onley got two boxes of brand new coins . One was in the summer and other was in dec. The Federal reserve Bank where trucking truck companys buy coins from. They will send the old stuff first and then the new stuff later. Its like playing the lotto game on geting boxes of brand new coins. You never do know what they will ever send. They are tough to get brand new boxs of coins. Most peaple like me who get those boxes brand coins will not open the box or search them. Main reason why is they worth more money intact. If you read completed sales on ebay those 2007 cents boxes are worth maybe 35 to 50 bucks if you listed them. I saw 1995 box sell for 200 bucks once on ebay before. Back to banks they can ordor 50 State Quarters or those brand new president dollars coins from feds. Reason the goverment does it for collectors. Example I think they had intill nov 18 to special ordor utah quarters. Since you cant find brand new coins at bank. Try ebay and you can pay 35 to 50 per box on them or do like me. Ordor maybe 25 to 50 boxes from bank and hope they will send some in the batch. Like I said its like playing the lotto on buying them. My two boxs I may list on ebay later to sell for over face since colletors want them unopened and still in intact. Chevrolet454ss Report this Post to the Staff
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