http://www.economicpolicyjournal.com/2011/11/man-who-bought-one-million-dollars.html How easy would it be to buy a huge amount of coins most place like banks only have a few bags?
I bet it would be pretty easy. He could simply place an order at his bank. I have done so in the past for $2 bills. I worked at a company that wanted to give out a small bonus and make it memorable, so I suggested Eisenhower dollars and $2 bills. So I simply ordered $20,000 in $2 bills from my bank a couple of weeks in advance.
Some banks might be willing to do it for you, provided you agreed to pay all of their costs for acquiring the coins. But I think you'd have a lot easier time going direct to the people who supply the banks with coins - the armored car companies.
Fair point. I guess as CFO of a company I might get different treatment at the bank than others. Any time I have asked them for favors they have been pretty happy to help.
If just looking for coins in general, I'm quite sure the larger vending machine operators would happily oblige a willing taker.
Seriously doubt any vending machine operator would ever have a million dollars worth of coins on hand, let alone that much in a single denomination. They don't buy coins from suppliers, they collect them and cash them in.
Never know though. I read in WCN how an operator of telephone card vending machines was complaining how the local branch of the Royal Thai Mint "only" was accepting 5 million baht in coins a week, (about $166,000), and how the rest of the coins from their operation had to be transported to Bangkok. But yeah, if a person is friendly with their bank, I think over a period of time they could get all of the nickels they wanted, provided you reimbursed them for any extraneous expenses they had. I have a friend who ones some banks, and change is actually an expense to him. He gets change in, but has to pay someone to roll them to provide rolled change for businesses. I am sure any extra bags of change he got he would be happy to sell for face. Might take some time to get $1 million in nickels, but what is the rush?
Change is an expense for all banks because of the shipping and vendor fees they have to pay - both ways. Banks don't get change at face value. It is always a loser line item for them, but it is a service that they have to provide at a loss if they want to keep their business customers. Of course in the end they still manage to make a profit with the fees they charge all of their customers.
No. Easiest way to do it would be to buy it directly from the mint through their bulk purchase plan. You can buy as many ballistic bags of coins as you want. But they don't deliver. You have to go to the mint and pick them up yourself. Bring your own trucks and forklift. Thirteen bags of dimes or quarters would get you your million.
