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 Replies: 24 / Views: 5,109 |
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Valued Member
 United States
107 Posts |
Yes that could explain it.
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Valued Member
United States
107 Posts |
I wanted to edit my previous post but can't figure out how to,
As banks hate fees worse that I do I wouldn't be surprised to see the banks that will order halves slowly dry up, it is sort of happening now, TD Bank won't order halves at all, corporate policy, and now Eastern Bank in Sharon says no...
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Pillar of the Community
967 Posts |
The branch that I use has safe deposit boxes in their only vault and only a smaller locked space for operational cash. They do not have enough room for many extra boxes of change. This keeps them from ordering much extra change. Here one teller is the "vault manager". She makes the decision on what to order. The other tellers really don't have a dog in the fight. So if you are on good ground with her you are more likely to have success.
If I was the OP on this thread then I would not really worry so much about the dump bank unless the banks reroll their own change and send it back out from the bank. One of the banks I use did that at one time. I guess it depends on what you are searching for and how much you intend to search. If you go through huge amounts of half dollars then it might come into play.
There are 3 or 4 carriers that service the banks around here. I used to search boxes only at one time. Now I search mainly bags. When I was getting just boxes I noticed that one carrier just supplied new coins that were 90% first time rolls. If I wanted rolls of freshly minted coins I would go to the banks that they serviced. If I wanted circulated coins then I went to a different bank that was serviced by a different carrier. I just opened up account at banks that have multiple branches so that I would have more options. Just talk to the banks and make mental notes when you see the carriers making deliveries. I would NOT try to talk to the armored car personnel. Every time I have tried they have been less than friendly and probably rightfully so.
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Valued Member
United States
107 Posts |
I do mainly halves and some dimes. Like boxes but ask for CWR all the time. Around here I have only found one bank, a small branch that will sell bags and I don't expect that to last, we will see, they also took over a year to half fill the half bag and almost a year for the dimes, they don't get much action, but the halves were a silver mine 9 halves and 22 40%ers. ALL the other says they are required to send them to the "fed"
I will ask for CWR or loose coins at banks I dump at but never to order boxes there. I usually as I am cashing in the dump ask "do you or the vualt have any halves, large dollars or customer wrapped rolls" then I don't hit that bank for another month to dump
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Moderator
 United States
188770 Posts |
Quote:
I wanted to edit my previous post but can't figure out how to, Click on this button above your post  But you have to do it within 24 hours. After that, edits are locked. |
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Pillar of the Community
United States
840 Posts |
To answer the original question I think using two different banks, one for orders, and one for deposits, is the best you can do to avoid searching your deposited coins without asking a bank probing questions like, "Which delivery service (Loomis, Garda, Brinks, etc.) do you contract with?", and without overthinking it.
We eventually search our deposited coins because the US coin/currency system recycles. This is especially true on a regional basis.
I think the delivery service varies bank to bank depending on which delivery service the bank has contracted with. One bank may have more than one contract, so they may receive deliveries from more than one delivery service.
If the bank has a contract with more than one delivery service, then I believe the delivery service that actually fills the order is determined by the cash/coin order at the time the order is placed. If the nearest contracted delivery service can completely fill the order, then they fill the order. If they cannot, then the order is sent to the other contracted delivery service. The order may require both services to deliver coin/currency. This sometimes occurs with halves because the halves supply may be limited in an area.
Edited by berto
01/08/2018 12:08 pm
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Pillar of the Community
United States
2915 Posts |
Quote:
If the bank has a contract with more than one company, then I believe the delivery company is determined by the cash/coin order at the time the order is placed. If the nearest contracted delivery company can completely fill the order, then they fill the order. If they cannot, then the order is sent to the other contracted delivery company. The order may require both companies to deliver coin/currency. This sometimes occurs with halves because the halves supply can be limited in each area. This explains a lot too. I know where I am at, Brinks is the primary vendor for Wells Fargo, while Garda is the primary one for Bank of America. This would explain why, every once in a while, they get each others' boxes of coins, so to speak. CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Pillar of the Community
United States
4333 Posts |
Slightly OT, but be aware of what banks call structuring, or 'smurfing'. It's the practice of making bank deposits or withdrawals in specific patterns, to avoid triggering suspicious activity. Yes, the bank can file a SARS report on you for making legitimate deposits or withdrawals of your own money. These amounts can be for as little as two or three thousand dollars. Any teller can file a SARS report. It's for the bank's own safety.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
107 Posts |
I usually try to keep my coin cashin's, only deposit if the bank insists, such as Middlesex Savings that counts the coins for you and deposits to your account, to around $350 as that fits in the coffee cans. I don't think that would trigger a Sars report.
But I don't do that to avoid the report it is to not get the bank upset as handling large amounts of coins and never dump at a pickup bank.
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Replies: 24 / Views: 5,109 |
First Page
Posted 01/08/2018 07:58 am
