CR halves and the abrasive bank manager

Yeah I tried. Their policy is to wrap them.

 

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Yeah that’s the plan. It’s funny cause when I went to dump my first box the teller asks me if I’m sure I wanted to deposit them. When I said yes that I had looked through them she was happy to get them and told me she had plenty of customers looking for halves. Hope she feels that way after I come in with more.. That’s when I come in with donuts or bagels!!!

 

Interesting topic. My current partner at work quit Wells Fargo years ago due to them having pressing unethical policy. Kind of sad to me because its just states that banks have gotten to powerful and big and no longer feel they have any standard they must uphold. Pure arrogance. At one time "community" buildings that held "local cash" were embedded in a locally and called "banks"lol. They relied on sound investment to survive and thrive. They would give farmer Bob a loan to buy 5 more acres so he could make a little more money and in return keep more money in the bank for the bank to lend. The bank was incentivised for promoting personal and financial growth of the people who kept money with them. Today, a banks model is based off of ludicrous fees and other garbage. They wonder why people are turning to online banking and credit unions. If I want to go get coins to search and its just a few bucks....its crazy to think some manager would have an issue. Thats a dude that probably hates his life and runs the bank like he is ruler of the planet. With all the competition for mortgages and car loans, if I were that banker I would encourage CR hunters because it allows some face to face interaction which is also called a relationship and potentially worth alot more then the few bucks lost over time on rolls of coins. They dont think like that. They want you to overdraft your account and use out of network ATMs because those fees are what talentless bankers prey on. I hope nobodys a banker here...if you are a banker, sorry.

I always dump into coinstar. Its 9% here. If I pay $1 to get $10 worth of fun for a few hours, giddyup. I can rip through $200 at the casino in 10 minutes (dont do that anymore) and have alot less fun doing it. Also, if I had rolled coins for deposit, no bank should ever give me guff. Surprised they dont have some official "fee" for it. Banks forget its not their money...its yours!

 

After you have gone through a million dollars in coins, and realized you have given Coin Star $90,000 ($110,000 here) you may think differently.

 

I do agree Michael! I would say if I ever have that much money to coin search....it would be a great problem to have!

 

Matrix, you are quite right about how banks have changed and how depersonalized they are today. True customer service does not exist today although that is what they claim to strive for. I have to disagree though about using coin star. Being a cheap SOG it would kill me to give any percentage so I can cash my coins.

 

Well you don't do a million dollars all at once. It's the same money rolled over. It adds up over time. I can't get halves but people do a few boxes a week. After a number of years you will have gone through that much, and then to realize you have given away 100 thousand dollars for nothing, etc.

 

I would disagree on the part of giving away $100k to coin star. I’ve gone through $1.25m in the last five years of searching half’s and have never given anything to Coinstar or a bank. Maybe I’m fortunate, blessed with a good search area or overly diligent. In those five years I’ve averaged about 300 ounces of silver. 2018 I’m almost at 500 ounces, my best year yet. Financed two trips to Disney and this year will make year five of paying for national volleyball club team dues. If you aren’t willing to be diligent to the tune of 10+ boxes per week then you will never realize any silver. Develop a plan of attack, modify and continue to reduce risk. Then again, stay out of the game and keep the competition for me down. As Ricky Bobby said” if you’re not first your last!”

 

Dedication. The time invested is as much as a part time job but for a nice payoff plus the enjoyment. Nice take for the work

 

if you can find a part time job making $30 per hour then that would be great. My 16-30 box searching takes 6 hours a week including the time to redoposit.

 

You can get amazon gift cards through coin star and there’s no fee. I get the gift card and buy coins on amazon.

 

I was replying to the poster who said he gladly gives 9% of his money to Coin Star for the enjoyment of the hobby.

 

I have never bought a box of halves but would love to. After reading all of these comments I have to say I have watched some video's (Youtube) on CRH and these people seem to buy boxes & boxes of halves often. When I get the money to buy a box of halves I will have to ask if they have a charge for ordering.

 

Going through boxes of halves isn't for everyone. They're as heavy as a boat anchor, it takes time to sort through them and to liquidate them when you're done with them, and all with no guarantee of finding anything worthwhile. Still, I'd go through a box or two and see if this kind of thing is for you.

I wouldn't ask or mention if there's a fee unless it's brought up to you first. Some banks or branch locations may not charge a fee even though they may technically be expected to do so by the higher ups. So in that sense it's best to keep talk about such kinds of fees on the down low as much as possible.

 

It's like anything else. Money talks. If you are a large customer, the bank is making plenty off of your account, because they haven't been paying interest for 10 years and they are loaning your money out at higher rates.
If you just have a bare minimum account, why would they go out of your way to keep you happy, when it costs them money to buy boxes of halves, and then sell it to you at face value, and then there are labor costs when people dump halves on them which they have to count and send back to the coin rolling company. (Loomis, whoever.) Banks are going to stop keeping halves on hand. No one uses them for change. My credit union hasn't carried them in years, which is too bad, because they would gladly have sold me all I wanted at face value. But then, I would need another place to dump them. It's bad form to dump them at the same place you get them.

 

Once you start with one box you may feel compelled to continue. As I was. It feeds on itself, really. My advice: Find a bank that’ll order the coin ( don’t offer to pay) and find a bank that is willing to accept the coin back on deposit. The deposit banks identified themselves when they told me they could not order coin. I use them to deposit and so far so good. I went to different branches of the same bank ( some will order some won’t). I specifically opened an account at one bank who said they would only order for account holders. There is a caveat here which I recently learned. The deposit bank doesn’t necessarily turn the coin over to the FED when they receive it. So if you dump at one bank and then order coin at another branch they may be getting the coin from the dump branch. Now that I’ve learned this I am currently getting fresh rolls from one bank and then going to a different bank to deposit. Good luck if you decide to go for the box.

 

Great advise THANK YOU!!