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Posted 10/31/2010 2:26 pm
The banks I go to will sell me bags of coin from the machine. From what I've seen they do a poor job at kicking out canandian coin and they certainly let silver dimes and nickels through. most every bag of pennies I get has at least 1 dime it, but the bag of dimes also ususally have a penny. I don't take the time to count either, I figure that machine is "accurate enough for this country".
The banks ship coin off to brinks or loomis or wherever. The bank pays a fee to have the bag counted and verified. Then coin is rolled and brought back to the bank (also for a fee). What is unclear to me is whether or not the coin is wrapped and brought back to the same bank or mixed in with coin from other banks.
On some site someone said that they went to the loomis depot and saw the operation, but they were told that the coins were segregated between banks and that the banks got back the same coin they sent out. True or not, I have no clue. The service descriptions on the websites of both brinks and loomis list lots of options.
I called loomis and brinks as well to see if they would drop off / pick up bulk coin from my "place of business" but they said that they only work with banks. Figured it was worth a shot, cut out the bank as the middle man.
The banks ship coin off to brinks or loomis or wherever. The bank pays a fee to have the bag counted and verified. Then coin is rolled and brought back to the bank (also for a fee). What is unclear to me is whether or not the coin is wrapped and brought back to the same bank or mixed in with coin from other banks.
On some site someone said that they went to the loomis depot and saw the operation, but they were told that the coins were segregated between banks and that the banks got back the same coin they sent out. True or not, I have no clue. The service descriptions on the websites of both brinks and loomis list lots of options.
I called loomis and brinks as well to see if they would drop off / pick up bulk coin from my "place of business" but they said that they only work with banks. Figured it was worth a shot, cut out the bank as the middle man.
