Dump Bank Etiquitte

It is always good to dump at a bank that is not your source so you do not end up searching the same coins again. But be careful since branches of the same bank may share their coins!

There are many different factors that come into play on this issue. Some banks that I do business with do not want them back while others beg me to bring more. Especially cents. While some may have an over abundance of change others never seem to have enough. I talked with a teller on Monday that told me she had worked at her branch since it had opened and she can never remember ordering any coin. The teller stated that they got plenty in deposits from the local economy. It is a small town bank on a major highway. Some banks in my town love for me to come in and get cents, they will try and get me to take 2 or 3 boxes at a time just to get rid of them. They know that I will not bring them back. But no one here wants you to bring them halves, they can't get rid of them unless someone like us goes in and picks them up.

The best and most efficient way I've found to dump coins is to use bank-provided coin bags. tellers will take them with no hassle, and they're already bagged for shipping out. it's a fast way to dump a ton of coins and you don't even hold up the line. I think most banks require that you know the amount that is in the bag. you can also mix coin denominations in the bag. just know the amount.

My bank will not "take my word" for the amount that "I claim" is in the bag.......I've always just put $500.00 worth into a plastic container.....hand it to the teller.....they go dump it......and then come back 3-4 minutes later and say "would you like cash or to deposit it ?"....then I say....."This is a stick up ! Gimme all yer' money !"......it works out quite well and I walk away with extra money this way.....never been a problem at all....

When I got to my dump bank the teller was cleaning out the reject bin. I casually glanced over (or maybe strained to look!), but it was only a couple of Canadian and Jamaican circulated coins. No more 2 cent 1867 pieces like I got last week (see my post and pic under Classic Coin Forum).

I dump most of my coins at one bank in the plastic bags. When I walk in one of the tellers immediately wheels a cart over to me and I take it outside and load it with bags. Most I've brought in was seven. No one has complained and they've even saved rolled halves for me that have paid off big. As for supply banks, I try to avoid banks that use the same distributor as my dump bank as I am trying to avoid seeing the same coins a few weeks after I dump them. I would love to get a look at the distributor's warehouse and how they store the coins...I wonder how may old boxes have never made it to the top of the pile. Only once have I received a dated box that was over a year old and that was when I was ordering 4K of halves from one bank. That strategy seemed to get them to grab boxes from deep in the stack!

Maine_Jim