CR halves and the abrasive bank manager

Discussion in 'Coin Roll Hunting' started by Vince11229, Oct 10, 2018.

  1. Vince11229

    Vince11229 Member

    Hello coin roll hunters. Has anyone had an experience like this? I went to a local branch of a large bank where I have a checking and savings account. While speaking with the teller inquiring if they would order a box of halves for me the bank manager walked over (really bad attitude) and told me they would order the box but they would not accept a deposit when I was through with them. How can the manager say that? Can your bank refuse to accept rolled coin (within reason)?
     
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  3. Vince11229

    Vince11229 Member

    I feel like reporting them to the state banking commission.
     
  4. NOS

    NOS Former Coin Hoarder

    What the manager was saying is don't go through the halves and then bring them back to dump back off on them. I think the manager went overboard with the decree about not accepting them if you were to bring them back but proper etiquette with coin roll hunting is to buy from one bank or branch location and then dump them off at another somewhere else.

    Regarding wanting to report the bank or manager, I would let it go and be thankful that the bank is at least willing to order a box of halves for you. Banks are under no obligation to do this. Some may charge a heavy fee for the privilege so if you found one that is willing to order for you and not charge a fee I'd just let it go.
     
  5. Dougmeister

    Dougmeister The Coin Scavenger © ¯\_(ツ)_/¯

    What @NOS said.

    1) As far as I know, the bank did nothing "illegal" or that would "get them in trouble" with the "state banking commission". About the only thing that you could do is complain to the bank's corporate office about the man's attitude when dealing with you.

    2) Realize that this would be biting the hand that feeds you, and that willingness to order a box of coins for you at no cost will probably dry up faster than... well, pretty fast.

    >Can your bank refuse to accept rolled coin (within reason)?

    3) In my understanding, yes. I believe they have to pay a 3rd party to take their extra coins every week. So in addition to paying for your boxed coins, you are asking them to pay a second time to "dispose" of them.
     
  6. Bman33

    Bman33 Well-Known Member

    First rule of CRH is not to return coins to the bank that gave them to you. Come on Rookie think!
     
    Vince11229 likes this.
  7. TheFinn

    TheFinn Well-Known Member

    I think that follows the adage, "Don't defecate where you eat."
     
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  8. Seattlite86

    Seattlite86 Outspoken Member

    Can’t say that I have, but I’ve never asked for a bank to order a box for me. I just come in and offer to buy all their half dollar and old dollar rolls/coins. Ordering boxes and accepting them back costs money.
     
  9. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    If you are in a one bank county , search out a coinstar or similar machine. You may lose a %, but that is the price of any fun you have. You most likely will not make any money over time, but a small , very small percentage finds something desirable. Silver is more rare than a BMW at a deserted parking area with the keys in it. Jim
     
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  10. spirityoda

    spirityoda Coin Junky Supporter

    coinstar charges 11% on the dollar. not worth it in my opinion.
     
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  11. Seattlite86

    Seattlite86 Outspoken Member

    Unless you turn it into a gift certificate to a restaurant or amazon, then you get 100% back. That's what I always did.
     
    spirityoda likes this.
  12. WalkingBenjamin

    WalkingBenjamin New Member

    I think finding a dump bank is harder to find than a bank that will order you halves. I do not care if the bank has to pay a fee to pick up the searched rolled halves because I have been paying a monthly fee for years (I know the halve pick up fee is higher than my monthly fee, but I only started CRH a couple months ago so it evens out). I do care if a teller or someone has to open $500 rolled halves in order to count them all and put in a bag to be picked up as I don't want to be "that guy."

    Coinstar is not a viable option for CRH halves. The % is way too high and a $500 gift card each time you search a MWR box is not realistic. Paying $10 in halves here and there also takes too long and would make me spend more on things I do not need.
     
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  13. Michael K

    Michael K Well-Known Member

    The bank isn't in business to fund your hobby at a financial loss for them.
    They pay more than face value for the service and are selling you the coin at face value. Don't be surprised if they stop carrying halves. There's no need for them to keep them on hand.
     
  14. Dougmeister

    Dougmeister The Coin Scavenger © ¯\_(ツ)_/¯

    ... @Vince11229, remember that CRH'ing takes a lot of time and a LOT of patience... if you add all the time and gas, I doubt that anyone actually *makes* any money doing it... I do it because it's fun and the banks are very close (both pickup and dump, dif't banks).

    Lastly, if you find a bank that's willing to order for you for free, don't forget to get them donuts or something once in a while to show your appreciation. Maybe even the dump bank (if you find one).
     
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  15. Collecting Nut

    Collecting Nut Borderline Hoarder

    I've never had it happen to me. Ur then my bank knows I wouldn't return them to their branch.

    Of course the bank can refuse to take them. They are a business and they set the rules. You agree to them by conducting your business there.

    The bank is not there to support your hobby. They need to make money to stay in business. Handling coins is a cost factor to any bank. The bank has done nothing illegal therefore you shouldn't complain. In fact, you should be grateful that you were told this in advance.

    How would you feel if they ordered a box of halves and refused to take them back after you searched them. You'd be left holding the bag or box.

    You can always spend them.
     
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  16. Clawcoins

    Clawcoins Well-Known Member

    This forum is littered with CRH Half problems.
    Not being able to find a bank to get them for you.
    Then banks not accepting them when you were able to get them.
    It seems as though it's a hobby on the killing block.

    One poster pays to have them dropped off by the money truck at home for something like $45 as that may have been the only way to get them.
     
  17. Sam Carter

    Sam Carter Well-Known Member

    I can assure you, you can. But it’s dependent on your area and how diligent you are. If you are searching a box here or there or running around all day everyday looking for half’s, then no you’ll never make any gains. Five years of results for me equals two Disney vacations and four Volleyball club seasons.

    But please yes don’t bother so I have less competition :)
     
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  18. Vince11229

    Vince11229 Member

    Hello all and thanks for sharing your insight and experiences. I’ve been lucky so far in that I have a bank that is willing to order halves for me and I found another willing to accept them back. Based on what I’ve seen here in the posts others are having a difficult time either acquiring halves or depositing them.
    That said I learned a little bit that I thought I’d share here. I opened an account at one bank where I was told they had halves but could only give them to account holders. I opened an account. In opening the account I became friendly with the manager. In speaking with the manager and the teller I found out that not all banks use Loomis or Brinks coin wrapped service. This branch did not. When they ordered coin it came in bags. It was the teller who would wrap the coin and verify the amount receipted. This is where the cost was for this particular branch. Other banks using say Loomis pay a fee for the depositing of wrapped coin ( which makes sense since the manager at the other bank had no issue with getting the coin but refused to accept deposits).

    In summary the banks do not order halves as there is little demand outside of coin searchers. If they have halves on hand it’s usually customer wrapped although that is difficult to find since I know there are other searchers out there.

    I was able to order 3 boxes and deposit 2 boxes. These are Loomis wrapped. So far in these Loomis rolls there is nothing pre-1971 and VERY little post 2003 due to low mintages.

    After opening the account I took the 5 rolls of halves they had and I got lucky as I found a 65; 2 67’s; a 68 and a 69(the rolls looked customer wrapped).
     
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  19. Bman33

    Bman33 Well-Known Member

    Sounds like you are getting your system down. That's good! Keep branching out so you can get several boxes a week if you have enough banks in your area. Just remember to have strictly dump banks and strictly banks you get your loot from. If you want varitey go to several other banks you don't have accounts with and just ask for loose and customer wrapped roles.
     
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  20. hotwheelsearl

    hotwheelsearl Cheap B-Tard

    Well... my dad got a $500 box and we’ve been using them for small cash purchases for the past 3 years lol
     
  21. Seattlite86

    Seattlite86 Outspoken Member

    Awesome! Ask to have the whole bag as received and accept the loss of a coin or two. Better your chances of getting goodies!
     
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