First off I'm not sure if this is the right forum for this so if not mod's please move. Anyways I'm fairly new to collecting, and it never really crossed my mind to go to the bank and start searching rolls. So to start this off I opened up another account at a second bank so I could pickup and dump at different banks, and when I went up to ask if they had any half dollars they said just what they had at their desk, then one lady said she didn't think they could order from the fed anymore. And they just use whatever people bring to the coin counter. Is this correct? Fwiw my other bank does the samething to get halves
Welcome to CT. Sometimes you don't always get the correct information. I would call and talk to the head teller. They are the ones that place the orders I believe. Next call would be to the branch manager. If they can't\won't order what you want, close your account and find a bank that will. Join us roll-searchers here in this thread: Roll-searchers, post your results!
Correct Information!! You've received correct information, I believe for your particular bank, and for many throughout the world. Although I've several banking accounts, my primary facility is one of the largest stable/profitable international banking institutions. In the past, I talked both with the senior teller in charge of ordering funds, and the branch manager to ascertain the truth of that which you've been told. Fiat funds are commodities which need inventorying and to be restocked on a regular basis, and apparently need to be ordered in incremental amounts. I've been informed that the associated minimum order requirement, demand, and accounting efforts don't justify the purchasing of this commodity. The institution reported that generally other than "roll searchers" there is little interest in this commodity, which virtually eliminates the requirement for retention. One of the smaller local banks keeps a rotating inventory of this commodity to pacify any locals with an account who desire searching through halves. :thumb:
My local bank will order Halves but only a minimum of $500 at a time. Also $2 Bills at $1000 at a time.
Ok I'll talk to the head tellers when I get a chance and also get $500 haha. On another note though I searched $250 in dimes today(loose teller rolls not a full box)and found a 57 and a 64. I was pretty happy about that.
I used to work at a bank...and some simply won't order them. They have no use for them and they just won't do it...even if the customer wants them. Banks are private businesses (despite what a lot of people think) and they can have policies like this if they so choose. But, I would talk to the teller coordinator or whomever is in charge of ordering their currency and coin.
I'd find a different bank and while I was "bank" shopping, I'd ask them ahead of time if they'd order half dollars for me. If they won't, tell them thanks but thats the only reason you wanted to open an account and then go to some other bank. Some banks will work with you while others won't. A lot of it has to do with your demeaner. If you ask "positively", you might get a better response than "I don't think we can". If you ask with a wimpy, wambly, wombly voice, they're gonna say no. Most banks WILL order you all the coin you want, they just don't want you returning them. Be positive, shop around.
I asked at a bank the other day, because they said they had over $1000 that she ordered for a "business". She then asked if I was roll searching, and I said yes. I asked if I could order some(being a member) and she said "yes as long as you don't bring them back here". Which leads me to believe she is not ordering them for a business or she wouldn't care if I brought them back here. She also knew about roll searching. I think they have one customer that roll searches and she wants to keep his stash for him. Little does she know my buddy probably has more in his account than the guy she's ordering for... Oh well...I've run into a lot of ignorant tellers since I've started roll searching. Most think I just want the paper to roll them in ha.
My understanding on half dollars and major banks, like Bank of America is that in larger cities is a central bank where all the halves will go to. Basically if you know which bank or banks it is then you can buy the rolls of halves but it's alot of being at the right place at the right time because there's a number of collectors who already hustle said banks. As far as ordering from the fed, I don't think it works that way.
