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Banks Taking Out Copper Coins From Circulation?

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Author Previous TopicReplies: 8 / Views: 2,539Next Topic  
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yung_bath_salts's Avatar
United States
77 Posts
 Posted 05/17/2020  9:27 pm Show Profile   Bookmark this topic Add yung_bath_salts to your friends list Get a Link to this Message Number of Subscribers
Hello CCF,

I am looking through a box of coins from a local credit union. I am through about 15 rolls so far, and have only found 2 copper coins, both red 1982's.

Have any of you heard of banks searching through pennies? This seems very odd.
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nfine's Avatar
United States
3475 Posts
 Posted 05/17/2020  9:32 pm  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply
If copper coins were being removed, they most likely would be removed by the companies that supply coinage to the banks. I can't imagine why they would take the time to do so.
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Parklane64's Avatar
United States
2668 Posts
 Posted 05/17/2020  9:51 pm  Show Profile   Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply
There's this ONE very OCD guy...
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Coinfrog's Avatar
United States
94367 Posts
 Posted 05/17/2020  9:59 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
I'm quite sure banks are not putting aside copper cents.



to the CCF!
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hcmusicguy's Avatar
United States
814 Posts
 Posted 05/17/2020  10:47 pm  Show Profile   Bookmark this reply Add hcmusicguy to your friends list Get a Link to this Reply
I can assure you we are NOT pulling the copper pennies, other than when my wife has asked me to get some for pressed penny machines when we go on vacation. Aside from that, no time, desire, or point in doing so.

Now silver on the other hand.....

You are most likely getting someone else's dump. We do have people who are penny searchers and bring us their rejects, though we have significantly cut down on allowing people to do this.
Edited by hcmusicguy
05/17/2020 10:49 pm
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ijn1944's Avatar
United States
19223 Posts
 Posted 05/18/2020  08:03 am  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Searching coin rolls--the secret is volume, the more searched, the wider the variety. Drawing conclusions based on finds from <20 rolls or so can be misleading. I've gone through untold numbers of cent rolls over time--some are light on copper coins, other very heavy with them. Just the last few weeks my copper cent haul has been around 30%.

Don't let up. Get more rolls. Good luck!
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T-BOP's Avatar
United States
18456 Posts
 Posted 05/18/2020  09:37 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
If copper memorials are being hoarded at a substantial rate in the country , it won't be long before the sort after Wheat cent meets the same criteria as finding silver in bank rolls .
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jbuck's Avatar
United States
189613 Posts
 Posted 05/18/2020  11:10 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
You may have received a box that was already searched.
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YourGeorgiaPeach's Avatar
United States
287 Posts
 Posted 05/18/2020  1:48 pm  Show Profile   Bookmark this reply Add YourGeorgiaPeach to your friends list Get a Link to this Reply
Yeah, sounds like someone's dump for sure. There's hunters out there who actively hoard copper memorials the same way they do with wheats or anything silver, so the reality is you're just an unlucky victim of someone else's hunt.

Now for comparison's sake I like to put my coppers aside when hunting, but I'm not one to hoard, not worth it yet, and won't be for a long long while.
YGP
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