Dump Bank Question - Coin Community Forum

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Author	Replies: 5 / Views: 1,483
Ceylon62 Pillar of the Community United States 1285 Posts	Posted 03/01/2010 07:06 am On the JFK forum people speak of using a different bank to drop off the searched boxes of coins. My question is why? Below is my reasoning as to why it does not make sense in my area. I have been searching Nickel and Penny boxes for a while now and have been to banks that are within a 30 mile radius of where I live. Most banks I have been to have the same box number for the Nickel and Penny boxes 30 miles out on any given week. Some older boxes have no numbers at all (small community banks) or have numbers from prior weeks. So I am thinking that the same theory MAY hold true for JFK rolls meaning these boxes are all coming out of the same vault. Eventually all searched coins are ending up at one sorting / rolling center in my area. Thanks Peace Report this Post to the Staff

eaglefoot Pillar of the Community United States 6326 Posts	Posted 03/01/2010 08:35 am Quote: On the JFK forum people speak of using a different bank to drop off the searched boxes of coins. My question is why? It's just so that I do not "overwhelm" them where I order and pick up the coins. Plain and simple.....it "IS" a cost to these banks in several ways, so I try to limit how much, when and where I "dump" them. You don't want to "wear out your welcome" at any bank ! .... For "customer wrapped" rolls......yeah you might end up getting the same "dump" coins, but I order String & Son Fed. Resv. rolls......so ......that's not a factor for me, as they don't even come from here. I've had luck searching "customer wrapped/bank wrapped" certainly.......but it's not my preference. Edited by eaglefoot 03/01/2010 08:37 am Report this Post to the Staff
CoinHunter53562 Pillar of the Community United States 2049 Posts	Posted 03/01/2010 09:27 am Well said Eaglefoot. The banks are doing people a favor by ordering boxes for us to have fun with, so to dump at the same box is a bad move in my opinion. They don't have to order boxes for you for free, but many do as a service to the customers. I'm guessing most who order boxes don't really have alot of money at the bank relatively speaking, so it's not like the bank is making tons of money off them in alot of cases. So don't bite the hand that feeds you. Use a separate dump bank and dont force the same people (who have to lug the boxes out of the vault when you pick them up) to also have to deal with changing out the bags or processing your coin returns. Eventually they may get fed up with you and start charging you a fee to order boxes. :) Report this Post to the Staff
Ceylon62 Pillar of the Community United States 1285 Posts	Posted 03/01/2010 10:29 am Too clarify - The 3 banks involved know exactly what I am doing, as I have asked them openly as to what is too much. One head teller told me that I do not even make a dent due to their commercial customer volume and another gladly hands out my rolled nickels to their customers when I have a full box. One bank in particular gives out the customer wrapped first and when they run out give out the NF string. Back to the dump? So do you folks dump at other branches of the same bank? Also is there a diff between NF String and NF string Fed rolls? Where I am going with this is at some point you are going to hit your own "RECYCLE' on the JFK's as it is not widely used. One of the tellers highlighted me to this fact. Thanks Peace Report this Post to the Staff
The Silver Machine New Member United States 44 Posts	Posted 03/01/2010 10:29 am Yea you got to keep your tellers at your ordering bank happy. I gave 5 $10 gift cards to mine for a bagel shop next Door to the bank. That's a bit much but they have ordered and lifted like 70 boxes of halves since the new year for me. :) You have to get them all on your team so if the higher ups tell them to stop ordering they will fight for you. Report this Post to the Staff
nod2003 Pillar of the Community United States 3294 Posts	Posted 03/01/2010 10:42 am You should probably ask before getting tellers gifts. I was told at one bank that I was not allowed to do that. Report this Post to the Staff
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