How big is the Loomis half dollar "pool"?

This is a legitimate question so I don't want this to devolve into a pro/con debate of CRH. I did a search on "Loomis" in this forum and browsed through other threads but didn't see this particular question addressed.

I have both a "buy" bank and a "dump" bank. Both banks use Loomis as their source. So, ultimately, the rolls I'm searching come from and go back to the same source. With both cents and nickels, I'm not worried about exhausting the source but I'm not so sure with half dollars. Since they don't circulate anyway, there is no steady stream of new supply coming into Loomis. So how long before I start recycling the same coins I've already seen?

I would assume the supply of halves is much smaller than the lower denominations. I've been tempted to start putting some random marks on half dollars to see how long (if ever) they eventually come back to me.

 

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I don't think you will get an answer for your question. I would imagine that they keep that kind of info within the company for reasons you could probably imagine.

That being said, they probably don't have a ton of something like halves which are not widely circulated. I would imagine that since you are dumping and picking up from the same provider you are seeing some of your same coins come back.

The old saying "Don't *defecate* where you sleep" comes to mind.

 

Yes, I wouldn't think that an actual "number" would be forthcoming. I guess I was just thinking in generalities. I've tweaked my original post to better reflect the question.

 

Here’s my thinking, Loomis simply keeps whatever they have. I don’t know how many distribution centers they have but, I think each center simply takes in coins from various banks be it rolled or in bags, sorts it, wraps it, boxes it, and sits on it till it is requested. From my best understanding of the process, banks will make a “order” with Loomis or a similar company and they are then shipped those coins. Now for let’s say, small dollar coins, if the stock becomes large enough, they might simply send them off to a Fed bank, and if the demand becomes more they they are taking in, they simply would request some from a Fed bank. The thing with half dollars (and large dollars) is they are no longer made for circulation, so if there was to be a spike in the demand for half dollars (or a drop in the supply they are taking in) getting some from a Fed bank might be very difficult. So my guess is, they just stick with what they have, and keep it all within the Loomis system. This way, should there be a need for coins, it could simply be transferred between different Loomis centers. Now since you live in what is proabably a larger area, smaller district might take coins from your district, meaning that some of the time, you’ll be getting coins you’ve searched for, and some of the time they will be sent off elsewhere. Marking a coin isn’t a bad idea but overall I don’t think it will change much. There will always be people that aren’t you dumping coins into the system and taking them out never to be seen again.

 

I live in a much larger metro area. Many years ago I marked around $10k in halves with my mark and I've never seen one back in my searches. I also pick up from Loomis and drop into Dunbar. Not sure how long it takes to get to the Fed and then sent back to the companies. I do see some peoples' marks quite frequently though.

 

Also, if you really wanted to know, you could proabably call and ask how many half dollars they could provide you with. Might not be exaclty what they have on hand but should give you a rough idea.

 

I've seen others' marks as well. People seem to like to mark up half dollars. The purpose for the original question was to gauge how long before I was start "spinning my wheels", proverbially. Ten boxes? Twenty? Or a hundred?

 

@midtncoin

I think the answer to your question depends on the size of the area where you live and the number of banks that are serviced by Loomis.

When I was actively searching half dollars, I routinely ordered two boxes ($1K) a week from my BoA branch. I learned that BoA in my area deposited and ordered all of their change through a BoA "regional depository" that serviced most of Southwest Florida. The only time that they reordered from the Fed was when their supply ran low, so I assume that they rarely ordered half dollars from the Fed.

I never marked coins, but I did receive my share of marked/damaged coins that I recognized in each order. It took about 3 years for me to notice that certain coins were recycled through my branch.

Chris

 

Thank you Chris. At 2 boxes/week and 3 years, that's a lot of boxes. I move MUCH slower than that -- generally a box/month. If my bank/distributor is even remotely similar to your scenario, I should be good for the next decade or so.

 

I do 6 boxes a week and it has yet to be an issue for me. Also gotta remember that others are continually adding into the pool as well.

 

Mark every hundredth coin, and see how many keep coming back.
No one uses these in commerce, so yes you are going to be recycle most of the same coins.

 

Not positively sure of what you're asking MTC, but today at my bank (W/Fargo; Loomis-supplied), I was told that Loomis doesn't take boxes back.

I believe that, but...

I'm not sure if she meant ONLY Halves, or ALL boxed coins. I also DON'T know if she was saying also, that Loomis takes back no ROLLS.

She's proficient, but only avg. intelligence, and not really good communicator.

She did say also that Loomis DOES take bags of un-sorted coins from banks.

 

I don't care what anyone says. Marking coins just so you can check them for recycling purposes is reprehensible! There are kids out there who may be getting their start filling albums from circulated coins, and you're ruining it for them.

Chris

 

Well I never marked anything that wasn't already skuzzy to begin with. Most seemed to have been used in the casinos at one point. I made a point never to mark nicer coins or NIFC. Basically just junkers.

 

Would you like to take a guess at how many newcomers to the hobby have posted images of their "junkers" here and were very proud of them?

Chris

 

A ton. But really the coins I marked were junk. Absolute junk. If someone is proud of it, well good for them. I haven't marked anything since the one time a few years back. But I really don't think marking a beat up, scratched, piece of crap, half is really doing any harm to anyone.

 

You can mark a coin without ruining it, with something that will wash off.
Don't be ridiculous.
We are talking about face value Kennedy halves with no numismatic value.
Calm down.

 

Received two boxes yesterday where a previous searcher marked hundreds( literally) with a red sharpie ruining some very nice NIFCs and proofs. So not all searchers are considerate of the hobby outside of silver finds. So shame on them!

As for the Loomis question, halfs come from different sources. Loomis supplied banks, ordered from a collection business such as Coinstar, etc. When you return a box or wrap them in bank wrappers, the tellers have to empty those rolls into a bag. They can't return the bag to Loomis until it reaches $1000 nor can they return wrapped coins. Each Loomis location has a Location number, usually a four digit number I.e. 4297, 6602, etc.

If you track your boxes you note what your primary location is. As that location runs low or out of halfs, you'll start receiving half boxes marked with a different location number. Occasionally a unmarked box will show up, I haven't determined if that box just was not marked or came from a different Loomis location. Also, if th primary and secondary Loomis location runs low there seems to be a regional Loomis location that has a different numerical location noted with a Three Letter code and usually dated.

I have not tracked repeating coins because I'm not going to mark them. But why would it matter, I've received boxes with marked coins where I find silvers, proofs, 87s etc. as bags of coins are return to Loomis by the bank for sorting the $1000 bags are dumped into the hopper and rerolled for distribution. So you'll get new coins to search and all ready searched depending on what was deposited at the bank.

 

I get my coin from Loomis but none of my boxes have a number. I've seen these numbers on boxes I get out in the wild from random banks, but never from my main supplier. They also tend to run out of boxes quite frequently and switch the types of boxes they use, to include quarter boxes with "HALVES" written in sharpie on top. The tellers wanted me to open each of those boxes in the bank with them to insure they actually were halves.

 

Sam C - some good info; I've noted the 4-digit codes on boxes (think they might show in some of my posted pics). They didn't look decipherable to a date...

The part about supply, and different Loomis locations sounds good too (probably they DON'T wait for low supply to do re-routing). Re-routing in logistics / delivery business is very complicating; I owned a courier / delivery for 20+yrs. But when it's money trucks, it's probably done DAILY, to keep bad guys off guard???

But the part about getting 2 boxes previous-searched, Red-Sharpie marked coins, is strange tho'; he must have had a GOOD movie on while searching, if he returned some NIFC's, and Proofs??? Did you get good pics? Could you post them here?

This sounds sort of like what I was told yesterday at my bank. Do you work in a bank? Or some money-moving field?

I wonder if admin here could recruit a Brink's / Garda / Loomis employee here, to get DIRECT info (without incurring wrath of some sort) ???