I am hearing and noticing a newish phenomenon at banks. Everyone seems to be bringing their coin jar coins back into the bank. I know that the supply of Halves banks seem to have on hand have increased quite a bit. All mostly the customer wrapped rolls. Other denominations are the same, even the supply of Ike dollars seems to have returned after all but drying up in late 2008. It's also affected the amount of new coins Banks order.... I see very very few of the NF String or Brinks rolls now. Anyone seen anything similar.
Yes, I have seen it too here in SE Missouri as well. I have been seeing a LOT of pre-1960 nickels and have started getting pre-1959 Lincolns in change as well. In fact I went to Sonic to pick up my lunch today and got a 1945 wheatie in a condition that tells me that it has NOT been circulating for 64 years! I assume that a lot of jars and cans are being taken and cashed in. I have noticed as well that about 1/3 of the rolls we have been getting have been hand rolled and brought in by customers to the bank - still about 2/3 are in those shrink wrap rolls. One good thing about them, it is easy to determine if there is any silver in them!
People are using their "savings" to pay bills. I like to think the majority have enough sense to try a coin or even pawn shop first but it's not always the case. If you're seeing a lot more clad stuff it could also be stuff that coin shiops tell people "it's spending money". Unfortunately I do this on a regular basis at the shop.
Last fall I bought up 135 Ikes that had been brought into two banks by the same depositer(the teller works at both branches) I have been buying up older dollar bills, wheat cents, even a Buffalo nickel from 1923 recently.
On Saturday mornings there is usually a line at the coin counting machine. It's interesting to note what kind of containers are being used as people haul in their coins... I've seen plastic bottles, tupperware bowls, old pocketbooks, shoe boxes and one guy was dragging in a 5 gallon water bottle about 1/3 full of Lincolns.
It's really hit or miss. You have to be in the right place at the right time. Recently out of $300 worth of half dollar rolls I got 7 1964 and 14 forty percent Kennedys. Next I went to a different branch of the same Bank chain and got $400 worth of halves. That haul yielded only one 1964 and one 1966.
Coin Star has dramatically affected this area. Coin Star (plus member turn ins) has dramatically affected this area. Last year was the first year ever I did not see 08-P Lincoln's until May and the "D"s until much later. It was true of all small denomination coins as well. The banks have a ready supply with all that change being turned in and when they order they order from Brinks or Lomas and the coin the rolling companies are nearby with all this turned in coin. For small coins they do not need to order from the Fed at all anymore. I always shutter to think how many doublED dies go in Coin-Star each week.
Happens every time there is an economic downturn. People have problems paying their bills and so they dig into all those jars and cans of coins that they tossed aside during the better times because they didn't want to carry all those coins in their pockets. A few weeks ago a credit union in OH wanted to encourage is members to make deposits and to try and attractsome new customers, so they encouraged everyone to bring in their jars and cans of coins and deposit them. To sweeten the offer they would match each deposit up to $100 dollars per person. They took in over $250K in change! (And there were a lot of wheat cents , silver etc in those deposits.)
I’ve been thinking of turn in a hundred or so ike dollars. I’m not working as much with economy being the way it is and I’m sure my dealer would love to see my shining face again (or open wallet).
