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Modern Coins And Banks The Future?

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Pillar of the Community

United States
1026 Posts
 Posted 06/26/2009  2:04 pm Show Profile   Bookmark this topic Add Brucec to your friends list Get a Link to this Message Number of Subscribers
Seems like more and more banks I use to get the new coins from are now telling me they will not be getting these anymore.

Even my bank that I have accounts at just merged with another bank and now they still do not have the new cents or quarters I am starting to think they will be joining the list of those not getting the coins. SO

If I buy two 1000 coin bags from the US Mint that is 25 rolls in each bag. The cost per bag is $ 309.95 for each bag and $4.95 shipping for both bags.

That makes cost over the face value of two 1000 coin bags worth $500.00.

So the mint gets $59.95 per bag profit and $4.95 shipping so it would cost $124.85 for the two bags and this would be 50 rolls of coins. 25 rolls of P mints and 25 rolls of D mints.

Now I was if I can get say 10 or 14 members that would each take two rolls of each or 25 members that want one roll of each mint that cost per roll for each of us would just be $ 2.49 per roll.

Now I am thinking how hard it is to get the new coins and all the gas I use running around for a week to banks trying to get the new coins so maybe it would be easier to but two 1000 coin bags if I can get any interest in this.

It would save us all allot of running around and frustration. Then even if I get the rolls at the bank for face value I always trade mints so I spend postage mailing a couple rolls anyway.

So what do you all think about my idea?

I think it is going to get harder and harder to get rolls of coins as as it has become allot harder just in the last few months.

Wish the MINT would offer the direct ship program for all the new coins but that will never happen.
Pillar of the Community
yotie's Avatar
United States
3077 Posts
 Posted 06/26/2009  2:18 pm  Show Profile   Bookmark this reply Add yotie to your friends list Get a Link to this Reply
we talking about nickles and dimes?
Bedrock of the Community
United States
10284 Posts
 Posted 06/26/2009  2:25 pm  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
I would not be interested in anything but cents and nickels in rolls, but I would gladly commit to pay
1/10th to 1/14th the cost to get 1/10th to 1/14th the coins.
No problem participating in that way, but I don't save quarters dimes halves and dollars.
Maybe you will need several groups for each denomination? Count me in for P & D cents and nickels. I'd love to get in on that list.

PS: My next post will be a contest announcement.
Pillar of the Community
yotie's Avatar
United States
3077 Posts
 Posted 06/26/2009  2:27 pm  Show Profile   Bookmark this reply Add yotie to your friends list Get a Link to this Reply
well sign me up for the nickels
Pillar of the Community
United States
1231 Posts
 Posted 06/26/2009  2:34 pm  Show Profile   Bookmark this reply Add onejinx to your friends list Get a Link to this Reply
Bruce is talking about 1000 coin bags of quarters.
Pillar of the Community
eaglefoot's Avatar
United States
6326 Posts
 Posted 06/26/2009  2:40 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
There's some "potential" with a little teamwork there ! ......

But, for myself, I would/will just wait, and use a hard-pressed amount of patience for "regular circulation Biz. strikes" from the inevitable "eventual" circulation......even if it takes longer.....

I can get what I need from Proof & Uncirc. Sets....and for "biz. strikes"...well....even with the "low mintage" on Nickels & Dimes for this year...patience and hope will have to be my "method" !
Pillar of the Community
United States
1026 Posts
 Posted 06/26/2009  4:37 pm  Show Profile   Bookmark this reply Add Brucec to your friends list Get a Link to this Reply
Yes I was talking about the quarters but guess this is a bad idea.

Oh well maybe my bank will get them yet.

I was surprised the bank I found two rolls of Guam quarters today the lady said she had a roll of the new pennies gave them to me. Had Lincoln on both sides I figured it was probably LP1 so had to open it to see and it is LP2 that is the 1st roll I have seen anywhere around here. My one bank I have been talking about that I have some accounts at does not have the LP2 yet they got the LP1 about 4 weeks after they were released.

Since they merged with another bank sure hope they do not stop getting the new money now. I will send them an email now and see what reply I get back Monday.
Rest in Peace
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jgfindring's Avatar
United States
1380 Posts
 Posted 06/26/2009  5:10 pm  Show Profile   Bookmark this reply Add jgfindring to your friends list Get a Link to this Reply
I'ld be willing to sign on to get two rolls each P and D in your set-up.
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ErrorCoins222's Avatar
United States
1699 Posts
 Posted 06/26/2009  11:50 pm  Show Profile   Bookmark this reply Add ErrorCoins222 to your friends list Get a Link to this Reply
If you buy these quarter bags, is there a possiblitly to get an error like a broadstrike or an offcenter(even though I know these are scarcely found in modern coinage)since they dont go through the rolling machines? Or is there like a tube at the mint where it has to pass through, and if a coin is to wide a machine will pick it out? Thanks
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