I can't get rolls through my bank(s)

Discussion in 'Coin Roll Hunting' started by E Pluribus Unum, Jan 4, 2018.

  1. E Pluribus Unum

    E Pluribus Unum Active Member

    I started my coin collecting hobby as a child by searching through rolls from my local bank. In the late 70's and early 80's, it was never a problem getting rolls at a bank regardless if I had an account. In fact, I remember getting free paper rolls.

    I decided to start roll hunting again for half dollars about a year ago. When I went to my bank (where I have a checking and savings account) to ask for rolls, I was told that they do not supply coin rolls. I was surprised to hear this. I tried a few times again with different tellers and got the same response. At a different bank, I went to deposit a check into my mom's account and I was told the same. Again, I tried asking different tellers, but no luck.

    Finally, I made a transaction at another bank where my mom had an account. After I completed the transaction, I asked the teller if she had any rolls of half dollars. Strangely, she replied by asking me if I had an account with the bank. I said no, but she went ahead and I received 10 rolls of halves. About a month later, I went to the same bank to get another 10 rolls. Again, I was asked if I had an account with the bank. I replied no, but stated that my mother does. So, I got my rolls. If I continue going to this bank to get rolls, I am afraid that my luck is going to run out.

    So, now I am wondering is it necessary to have an account with a bank in order to get rolls? Or is this becoming the new norm that banks are no longer supplying coin rolls to save costs? I am considering opening an account with this bank for roll hunting, but is it worth the hassle? Is it worth the effort to try other banks with whom I have no affiliation? Or should I or can I place an order for rolls and pay a fee? I would greatly appreciate your thoughts.
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  3. CamaroDMD

    CamaroDMD Supporter! Supporter

    Not all banks have rolled half dollars...but I'm surprised that most banks don't have more used rolled coinage. Most businesses need rolled coins and utilize a bank to get them. I suppose it's possible that some banks only supply them to business customers...although it does seem odd.

    Typically to use any bank service you need to be an account holder. Rolled coinage isn't free for the bank. They have to pay fees for armored services to deliver and they have overhead costs. Many banks won't provide any services to someone who isn't an account holder because they aren't making money off of you.

    If it were me, and you know of a bank where you can get rolled coins (which it sounds like your mother's bank is one)...I would go and have a chat with a banker there. Let them know that you want to purchased rolled coinage through them and ask what their account policy is. My guess is, a simple checking account is all it would take and most banks have some kind of free (or nearly so) checking.

    It doesn't hurt to let them know that good service is important to you and if you are happy with them...you MIGHT move more of your business to them. You never know, they might surprise you.
    E Pluribus Unum likes this.
  4. Histman

    Histman Too Many Coins, Not Enough Time!

    I have an agreement with my bank (Rabobank) in which they collect and set aside every set of rolled coins brought in during the week by customers. They email Friday afternoon with a total and then I go pick them up. This can range anywhere from $50 to over $2,000.00. They have been really good to me. They don't mind giving it to me because then they don't have to take the time and expense of returning it with the coin logistics (Garda) folks. They will also order me whatever denomination of coins at whatever volume I want was well, as long as they are ordering for themselves. They are already paying the order expense so they order it for me. Camaro is right though, most, not all, institutions will require you to have an account for them to place an order for you.
    eddiespin and E Pluribus Unum like this.
  5. Santinidollar

    Santinidollar Supporter! Supporter

    If you want a bank these days to do anything for you, you’d better be an account holder.
  6. tommyc03

    tommyc03 Senior Member

    As Scooby Doo was used to saying..."Rots of Ruck". It's going to be tough with half dollars as no bank wants to hold onto any returns any longer then they have too. So, off they go with their next Brinks order. But if you are lucky enough to get them from one bank, don't return to the same bank but a different one and you will likely be in their favor as the one you get them from does not have to worry about you bringing them back. They also work well as tips or just add some to paying a bill somewhere else like your gas station, convenience store, etc. If you have an account they should be able to supply you with wrappers for free. At least mine still does here in Ma.
    E Pluribus Unum likes this.
  7. E Pluribus Unum

    E Pluribus Unum Active Member

    I guessed times have changed. I remember tellers giving paper roll wrappers upon request. I can understand the need to have an account with a bank in order to acquire rolls. Additionally, I can see the cost incurred by supplying large quantities of coin rolls to commercial clients. However, for clients with personal accounts, I would think the cost of supplying rolls would be nearly negligible. Besides, what percent of these clients request coin rolls? They have to order coins anyway to conduct cash transactions - so it's not really a significant expenditure of time or resources. Most importantly, banks are making money from me. It just seems a bit strange and a little shocking to discover that I can't get rolls of coins from my bank anymore.

    I will take your advice. I'm sure they can provide free checking with a savings account. I will post what happens.

    @Histman, that sounds like a nice arrangement. You have plenty of coins to search through. Do you have to go elsewhere to return the coins that aren't keepers?

    Although a little off topic, my dad knew a teller that was kind enough to set aside old coins. Every week, my dad would go to the bank and pickup these coins at face value. This was during the late 50's & early 60's. Imagine going to the bank nowadays and picking up Barber halves for face value.
  8. E Pluribus Unum

    E Pluribus Unum Active Member

    I won't return the half dollars, so returning the clad ones won't be an issue. It may have been a post here on CoinTalk where I read that someone was selling clad Kennedy Half Dollars at a flea market for a dollar each. Since most of the younger generation has never seen one before, they are willing to pay a buck to have one.

    I don't intend on selling them at the flea market. I only intend on hoarding them. The same goes for clad Ikes, but I haven't found one in a while. My primary objective is to find the silver halves. I got very lucky one time. For the hell of it, I decided to go to the bank and pickup some half dollars for a poker game. I quickly realized they were 40% silver and ended up with 16 rolls plus a single 1976 proof. Very strange!
    tommyc03 likes this.
  9. Brucecav

    Brucecav Member

    Well my bank I have three accounts with and many direct deposits is getting to be a pain also. They do not have half's but now when I ask for rolls they purposely give me junk rolls.
    I never return them to that bank either I have an account with another bank that still has a coin machine and take them there and then deposit the returned amount in a savings account trying to keep them happy.
    My main bank I am going to try and get a box nickels from them will see how that turns out. Figure they can't give me the crappy rolls that way as they will be giving me a box of rolls.

    Anyway I believe for us collectors and roll searchers things will get tougher in the near future for us to get and return large amounts of coins to the banks.
  10. Histman

    Histman Too Many Coins, Not Enough Time!

  11. tommyc03

    tommyc03 Senior Member

    I think a cashless society is coming but probably not anytime soon. Just as the metric system did not seem to take hold here. And as long as metals lobbyists continue, it will take that much longer, but I think it will come eventually. The same goes for Crane and the one dollar bill.
  12. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    A few things to consider....

    First, ask yourself how much they're really making off of you. I'm certainly not suggesting this is the case with you, but it seems many assume that because they've $136.76 in an account, the bank should bend over backwards while kissing their feet.

    Back in 09, a certain local bank was somehow flooded with one type of the then very popular and valuable cents rolls. Being as said bank had locations literally everywhere in my area, I kept a fairly modest account - generally a few thousand - for convenience, but when I inquired about said cent boxes, I was told no. Frustrating, yes, especially considering the then easy money to be had, but instead of simply accepting their refusal, or switching main banks in order to hopefully convince them, I had a buddy with a number of fairly substantial accounts with them ask for me. Let's just say I had no further issues acquiring said boxes.

    The point is that not every customer is equal, and folks wanting rolls to search isn't an uncommon thing these days. Just look at how often "dump banks" have been discussed on this very forum. While providing free wrappers and exchanging a few boxes every now and then may not seem a big deal, it certainly can be more of a hassle than it's worth when multiple people are abusing the privilege. Banks are businesses, and as with most any business, the time can come when customers can become more of a thorn than a blessing. Again, I'm not saying this is the case with you, but who knows... you may be one of many. In some cases it only takes a few folks to ruin a good thing for everyone.
  13. CamaroDMD

    CamaroDMD Supporter! Supporter

    I think you are completely correct. The average free checking account produces no profit for the bank. They are essentially loss leaders designed to get you in the door in the hopes that you purchase other products.

    I bank at a nation wide banking chain and I just checked my statements...and as far as I can tell I haven't paid them one cent in the last several months. My checking and savings accounts (of which I have several) have incurred no fees and I don't carry credit card balances. I have made money off my credit cards...but haven't paid any fees. I have actually cost them money.

    Now, I also own a business and I bank at a different bank for the business. According to the December 2017 P&L statement...I paid $198.73 in bank fees in just that month. I didn't bother to look any further but that's $2400 per year at that rate.

    I'd be willing to bet that the bank where I do my business banking about be more interested in keeping me happy with little things like this than the bank where I do my personal banking...because they are actually making money off of me.

    No matter which bank you use...having a relationship with them is the key. If you are a regular customer, and the staff knows you they will go the extra mile for you. I would imagine getting to know the staff and becoming a known and well regarded customer would probably solve a lot of these roll searching issues.
  14. 352sdeer

    352sdeer Well-Known Member

    Save up and order a box of rolls and pay the banks fee and I’m sure you can have your rolls. The Bank is a business and has to make money also. You can’t be the ONLY one benefiting from a transaction or soon the other guy will go out of business. This applies with all types of business, banks aren’t any better or worse that the next. Don’t be cheap pay for the ride! Lol. Reed.
  15. CamaroDMD

    CamaroDMD Supporter! Supporter

    While all business need to generate a profit, you don’t have to make a profit on every service. If a customer is a good long standing customer often businesses will provide services just to keep the good customer happy. Getting to know your bank and being a good customer goes a long way.
  16. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    Sorry, but it doesn't always work that way.

    In the example given earlier, I would've been more than happy to pay whatever "fees" the bank incurred in addition to a fair profit had they been willing, but it didn't matter. I also would've been willing to order by the pallet, so I doubt wanting a single box will make any difference.
  17. 352sdeer

    352sdeer Well-Known Member

    Well my bank which is more of a merchant bank makes anyone that wants boxes of coins order them and wait the 3 to 5 days it takes to bring them in. I was told that they charge an 8% fee on 25c and 50c boxes of rolls for non merchant account holders. Also my bank will take loose coins back but they need to be deposited and counted at their central facility. Just put them in a plastic coin deposit bag and off they go to be counted and the balance put in your account. I collect Lincolns so I never have a problem getting boxes of coins. And depositing is a snap!
  18. 352sdeer

    352sdeer Well-Known Member

    I agree
  19. 352sdeer

    352sdeer Well-Known Member

    Come on now be real here’s how it is and why you can’t get rolls from the bank;
    COIN ROLL HUNTiNG. YouTube has every get rich quick schemer and their bother raping 50 cent rolls for silver. Im sure half these people look like tweekers and they don’t care about making a bank relationship or the hobby they just want more rolls to rape and the bank employees don’t like it. Can’t blame them can you? I’ve had this exact conversation with one of my friendly tellers just the other day.

    Did someone say Silver....really......where......I want some.......
    Last edited: Jan 7, 2018
  20. E Pluribus Unum

    E Pluribus Unum Active Member

    As a child I have had an account with this bank since the late 70's. I opened a savings account into which I deposited the money I earned delivering newspapers. I have been banking there ever since.

    In any case, it is what it is. Things have changed. I would be willing to order rolls for a small fee. Has anyone done this? What was the fee?
  21. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    That's you. The same cannot be said for all banks.
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