How do you return your junk after roll searching?

Hi everyone,

I'm new to coin roll searching and wanted to know how everyone returns the coins they don't want to the bank?

Rewraping rolls is time consuming, and buying the wrappers themselves isn't very cost effective. From what I'm finding its like $5 + shipping for 36 wrappers which is crazy, and probably wont cover what gets returned from a single box.

So do you buy wrappers, try and salvage the ones the coins com in, or take the hit at the Coinstar machines?

Thanks!

 

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How much do you search?
Do you have access to a coin counting machine at a bank or credit union? I belong to a credit union near me because they have free coin counting machines for members.
I buy boxes from one credit union and dump into a different credit union.
I do $3k in Halves and $100 in cents a week so it would not be cost/time effective to reroll or dump in a coinstar.

 

Spend them, if it's a lot and your bank doesn't have a machine coin star and get a gift card to something with it as they don't charge a fee for gift cards

 

If your dump bank does not have a coin machine: Salvage original wrapper by opening one end and pushing coins out from other end (pushing off of the center axis will make it easier). Shove searched coins back in open end 5 at a time to save time. Fold over open end and mark roll wrapper with a magic marker to let you know you've searched them. A branch might send your searched coins to another branch and you may buy them accidentally (happened to me twice!). Most banks will give you wrappers if you should need more. Golden Rule: Don't dump searched rolls at the same branch that you buy them from. Oh, Coinstars in my area charge 11.9% - not gonna happen!

 

Not if you get a gift card from it like to Amazon. If you just take cash they charge the fee

 

If the bank/banks in which you have an account will not supply you coin wrappers it is time to find a new bank. Of course one should be reasonable and have more then a token account....Like $10/$100 only in a savings account for months and months just doesn't cut it.

 

This is why I gave it up. I didn't like the dump part of it, so I just spent it in coin acceptors at the grocery and Wal Mart. Quarters were easier to get rid of in cash transactions buying fruit and veggies and lottery tickets.

 

Good point BB21 - But if depends on what denominations you are searching. A large quantity of halves each week precludes taking Amazon gift cards for me, I want the cash back to buy more boxes. Searching smaller denominations is another story. You just have to figure out your comfort zone. Dumping searched coins is the sucky part of this hobby!

 

When the price of silver rose to almost $50/oz., tens of thousands of people started searching rolls for silver. Then, books like "Strike It Rich With Pocket Change" gave more people the bright idea that there is plenty of money to be made finding errors and varieties in circulated change. The end result was that the banking industry had to absorb the cost but that is gradually coming to an end.

Buying rolls from Bank A and dumping them at Bank B just doesn't get it because customers from Bank B are dumping at Bank C and customers from Bank C are doing the same thing to Bank A. So, the end result will be that all non-commercial accounts will end up paying some sort of fee for this service. It's no different than when service stations provided air pumps for free because someone has to pay for the power usage that runs the air pumps.

Chris

 

My bank will give me all the wrappers I want. I usually buy the coins at one branch, and return them at another.

 

When I used to search halves regularly, I had a few banks I used only for drop off. It seemed to work well at the time.

 

Spend it at Walmart or the Food emporium. Or else in small communities, the only bank(s) may charge for it or refuse it above a certain amount.

 

At my two banks I use I go in only when it’s not busy. The banks are commercial account banks as well as personal so they take deposit bags of coins from merchants on a regular basis and so are set up for it. I only use the bags the bank sells ( buy them online ) and only put one denomination of coin in for that deposit. The branch sends it in to be counted and deposits a day latter the amount that was in the bag. Simple, but it doesn’t matter how you do it if you make any work for the tellers at all it locks the system up solid so be super accommodating when dealing with tellers. At both of the branches of my banks when I set up the accounts I first met with managers to make sure there would be no problems before I plunked down my $50 for my new account. Three years no problems

 

I usually take my cents in bulk to my credit union coin star machine. It depends on how much time I don't have that day. I don't search a whole lot so usually I wrap up the nickels, dimes and quarters. You can get wrappers from the bank but don't ask for a hundred of them. They'll give you a couple.

 

Sorry forgot, if your serious about hunting and don’t want any questions then get a business account. Any and I mean any bank will get anything that a business wants as far as coins go no questions. You want $2500 a week in halves no problem. How about $10000 really no problem. And it’s called a deposit not a dump when your a business. It’s a great no hassles way to get and deposit coins.