My CRH'ing days are over :-(

I've used at least 3 different banks, and multiple branches, over the past few years.

Now within the span of a single week, I have lost all of my change counting machines and my main CRH branch.

I might still have a branch that can get me a box or two (of halves) every few weeks, but it won't be the same.

It's been fun guys, but I guess I'm done. More for the rest of you!

 

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I think you will find that more and more banks will be unwilling to provide this service because of the costs related to them. It's unfortunate that so many people feel that this is a privilege entitled to them. It isn't. Every box of coins that the bank must order for CRH'ers reduces their profit margin.

Chris

 

Bank Credit Union

I have two "banks" and three credit unions. One bank does have coin counters, but charges 5%, all three credit unions have coin counters and charge 0%.

Oh and the credit unions sell me rolled coin, bagged coin, any coin I will take off their paws as long as I don't bring it back.

 

Thank you for saying this. I think the same thing every time I read about people who order coins from banks.

 

I recently started CRH and follow the mantra don't dump where you eat. My bank is 1st bank and when I started they didn't bat an eye when I went in and got 3 boxes of pennies and didn't even know I was a customer at the time (now they do and I get the same teller everytime).

I do though dump at a coinstar so I feel like I'm paying back a bit and not burdening my bank.

 

I have a standing deal with my credit union to "take" all Canada coins and give them the same U.S. denomination in return. They love this, of course, making up their foreign exchange loss, and eliminating a blizzard of paperwork.

I pick up just enough silvers to make it worthwhile, but the benefits will diminish over time, of course. Plus I have a bag of Canadian pocket change to sell.

I keep hoping for a 1923 or 1925 penny, or 1925 nickel, but no dice.

A few years ago, a teller said, "Here's a few odd quarters; I think they're counterfeit..." They were 90%. I took them, no questions asked, per our deal.

The poor innocent young thing had apparently never seen any silver coins.

 

The Canadian silvers are 80%. So I am not sure if you meant that or US coins.
The prob with the Canadian change is this. Unless you live close to the border and can get rid of them in Canada or a bordering US state, you are stuck with the change. Places that will exchange foreign currency for $US ONLY take cash and you are stuck with the coins.
The very early Canadian silvers even nickels (1921 and before?) are 92.5. But the dimes and quarters (halves and dollars) after that are 80. And at the very end some of the dimes and quarters are 50% (1968) and many of the 1968's are 0%.

 

Am I to assume that you dump them at other banks? Do you think those banks get the coins picked up, sorted, counted and re-wrapped for free? When these banks start refusing to take your coins altogether, maybe you can take them to a Coin Star and complain about the 11-13% that they charge.

It's nice that many credit unions allow customers to use their coin counters and order boxes of rolls for free, but when their operating costs start to rise, which of their free benefits do you think will disappear first?

Chris

 

When I CRH, I simply go into banks and offer to buy all of their half dollars and customer wrapped rolls. I then take them to Coinstar and turn them into a gift card to somewhere I shop. Everyone wins.

 

Which is why I operate like it is not a right but a privilege. I have never used Coinstar, but with your being able to redeem coins for gift cards that is a backup option should it arise. One thing that is important is being friendly and taking breaks from CRH like I do. Last week I did go through quite a bit of coin from a bank and a credit union, which were then taken to a third institution and deposited. This week is woodworking week, and then model railroad - no CRH.

 

My pickup bank (Rabobank) logistics lady has thanked me many times for taking her customer rolled coins so that she doesn't have to pay to send them back. We are both aware that I sometimes do not get a full roll or that I may find 5 nickels in a quarter roll, but that is the chance I take. She is also more than willing to order me anything I want. My two dump banks (various branches of my credit union- Golden 1 Credit Union) are very friendly and the managers know me by name. The tellers even get excited to see if my return amount will set a new mark for me. I'm sorry it doesn't work like that for others, but I am going to continue to milk these relationships for as long as I can. My logistics lady is even putting out feelers to her friends in similar positions at other banks to see if they will do the same for me. Just picked up my halves and nickles an hour ago. Happy Hunting!

 

I have only found silver in CWRs so I always prefer those, even when I lose out and get wrong coins or world coins.

 

milk these relationships...

Hope none of the tens of thousands of bank or credit union employees across the U.S. are reading this thread.

 

Wells Fargo got rid of all machines and that was a big hit for me. My other bank still has their machines so I have had to cut back from 7 boxes of halves a week to 4. Now I hit the teller trays more often.

 

If they are reading, I'm sure they understand the nuance of the language used in that it means to continue cultivating the positive relationship as a two-way street.

 

I agree with you if you are talking about someone who is not a customer. But if someone is a customer and has a good amount of money in their account, then the bank is probably making far more money lending that money out than it's costing them to provide coins to you (provided you don't overdo it). Given the amount of money I have in my account and the pathetic interest rate I get paid on it, I have no problem thinking of my bank making change for me as a right, not a privilege.

 

Depends on how much money you have in the institution. I've pulled that angle not for rolled coin but for a free SDB - the branch manager told me it was against policy then proceeded to sign me up for a SDB.

 

@Seattlite86

Exactly how much is a "good amount of money"?

Let's suppose that one out of one hundred depositors has that "good amount of money" in a bank. Based on your "sense of privilege", that person orders boxes for CRH on a regular basis, and 5-10 other "less privileged" depositors see these transactions occur each time. However, these same "less privileged" depositors are denied a similar request. How long do you think they will keep their money in that bank? How long do you think it will be before only the "privileged" depositors have accounts at that bank? How long do you think it will be before the bank changes their policy? Now that the damage has been done, how long do you think it will be before the bank is either sold or goes out of business?

Chris

 

Did anybody every try buying bags of (counted) coin from a big vending machine company?

 

I've done casino's for nickels.