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Is There A Better Way To Buy Boxes Of Coin Than At The Bank?

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United States
34 Posts
 Posted 09/15/2010  4:20 pm Show Profile   Bookmark this topic Add curtism1234 to your friends list Get a Link to this Message Number of Subscribers
I've searched 3 boxes of US pennies this week and have determined it is worth my time pursuing copper hoarding as a profitable hobby. I'm probably going to do 100 dollars a week but there may be weeks I just want to take a break. I'm not sure I want to pester a bank each week because I know these boxes have to be stored in their vault which has limited space.


Is there any other good way of getting unsearched circulated coin? Is there any online source in which I could order $250, $500, or $1000 at a time. I'd have to do some calculations but I'm not opposed to paying the expensive shipping if it makes it easier.

Or is ordering from the bank still the way to go?
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John1's Avatar
United States
56855 Posts
 Posted 09/15/2010  4:44 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
I think you should ask your friendly bank teller or head teller if it would be ok with them if you had a standing order of four boxes a week. As long as you pick them up in a timely manner I don't see a problem.Let us know how it turns out if you take this route.
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sgtbigred's Avatar
United States
83 Posts
 Posted 09/15/2010  4:52 pm  Show Profile   Bookmark this reply Add sgtbigred to your friends list Get a Link to this Reply
If you want to get a roll of any coin that has not been searched, then going through a bank or credit union is the only way.
Any one selling rolled coins that state they are "unsearched" is questionable. Only if they are selling the coins in the original US mint box as shipped and unopened would I bother.

As to the volume you want to obtain, you can do as I do, I have found various banks that have coin counting machines that do not charge a fee. I simply walk in, use the machine, and then cash the coins in. Once done, I will purchase a few rolls and ask for ones that have been deposited.

I also use other banks so as to not make them angry with me. Some banks are now charging fees if you keep depositing trays of coins on a regular basis.

If you want to search for new issues, another trick is to get Federal rolls of coins which are loose coins from large US mint bags rolled by federal depositors and delivered to banks. You can get them from banks but you can also ask a cashier if you can buy a roll. I have found many new issue coins (2010 Lincolns and now State Parks quarter) way before release to the public from chage handed out at Wall-Marts. Why I am not sure, but check your change!

And last but not least, at banks and other financial institutions, you pay FACE VALUE and not a fee.
Happy hunting.
Hope this helps.
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Tim Stroud's Avatar
United States
2661 Posts
 Posted 09/15/2010  5:42 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply

Quote:
I think you should ask your friendly bank teller or head teller if it would be OK with them if you had a standing order of four boxes a week. As long as you pick them up in a timely manner I don't see a problem.Let us know how it turns out if you take this route.


Just find somewhere else to dump them unless they want them back. Some smaller banks never seem to have enough cents and will gladly take them and beg for more.
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okiepb's Avatar
United States
1213 Posts
 Posted 09/15/2010  10:38 pm  Show Profile   Bookmark this reply Add okiepb to your friends list Get a Link to this Reply
You could also ask the bank to contact you when their coin sorter (if they have one) has a full bag of cents. That way there is no ordering, they just sell you the bag.
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