Casino as a dump bank.

Forum for discussing any topic related to investing in, collecting and saving US, Canadian, UK, and other Copper Bullion Pennies for their metal content.

Casino as a dump bank.

Postby biglouddrunk » Sun Apr 01, 2018 11:32 pm

For Easter the family decided to hit the local casino buffet in leu of cooking the dinner. I was a bit early so I played a little blackjack. Ended up about 50% ahead on my investment so I decided to walk away, when I went to the cage to cash my chips in I saw they had a coin counter that fills bags. So I asked if they took large amounts of change and was informed they would. I by no means suggest gambling your returns away, but if you cashed your change in and hung around the casino for a bit I'm sure nobody would be the wiser. Or if you were to gamble it, using optimum blackjack strats the house edge is only 1% far less than the fee charged by coinstar.
biglouddrunk
Penny Pincher Member
 
Posts: 235
Joined: Wed Apr 15, 2009 3:00 pm

Re: Casino as a dump bank.

Postby smackvay » Mon Apr 02, 2018 6:56 am

Wee coin collectors are a clever bunch
WVU fan thru and thru, Just ask i will tell you
smackvay
1000+ Penny Miser Member
 
Posts: 1059
Joined: Sun May 12, 2013 3:40 pm
Location: West Virginia

Re: Casino as a dump bank.

Postby chris6084 » Mon Apr 02, 2018 10:01 pm

Probably would have been a lot easier before all the slot machines went to tickets. You could bring in a wheelbarrow saying you hit it BIG on the penny slots!
User avatar
chris6084
1000+ Penny Miser Member
 
Posts: 1335
Joined: Wed Nov 26, 2008 10:00 am

Re: Casino as a dump bank.

Postby AdamsSamoa » Tue Apr 03, 2018 8:55 am

I dumped a bunch of halfs at a casino in Indiana... then lost the $ on the tables... It was more of a coincidence than anything.
User avatar
AdamsSamoa
1000+ Penny Miser Member
 
Posts: 1076
Joined: Fri Oct 15, 2010 3:13 pm
Location: Coraoppolis, PA

Re: Casino as a dump bank.

Postby hobo finds » Tue Apr 03, 2018 12:33 pm

I would think they would look at you more than once bringing in a 5 gal bucket full of coin to cash in....
hobo finds
Too Busy Posting to Hoard Anything Else
 
Posts: 5928
Joined: Mon Dec 29, 2008 3:00 pm
Location: Tucson

Re: Casino as a dump bank.

Postby coindood » Tue Apr 03, 2018 1:53 pm

This was my modus operandi for about 20 years here in Vegas until coin-op machines slowly disappeared, and self-serve jet sorters along with them. A handful still exist (El Cortez for one) and you could probably get away with bringing in smaller amounts of nickels, quarters and even halves.
coindood
1000+ Penny Miser Member
 
Posts: 1277
Joined: Fri Apr 18, 2014 1:41 am

Re: Casino as a dump bank.

Postby Recyclersteve » Tue Apr 03, 2018 5:38 pm

I've done the opposite. I've picked up half dollars at casinos and was able to do so (on a fairly limited basis) even AFTER the slot machines stopped accepting coins. Got some silver this way, but not so much to make it really exciting.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4424
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Casino as a dump bank.

Postby PennyPincher » Tue Apr 03, 2018 6:46 pm

I live in Las Vegas, and I've been dumping coins (mostly pennies) at Silverton and The Orleans. I think Silverton is going to get a Coinstar machine very soon though, and I can only dump about $10-15 per transaction at The Orleans. I'd imagine that there are other non-strip casinos in Vegas that could be used.

I've also discovered that some casinos will sell me a couple of rolls of pennies at the cashier, but I prefer buying coins at the banks.

I'd like to find a bank in Las Vegas that will sort coins for free with a machine. Wells Fargo and Chase don't do it.
PennyPincher
 
Posts: 21
Joined: Wed Feb 01, 2017 9:19 pm

Re: Casino as a dump bank.

Postby Cu Penny Hoarder » Thu Apr 05, 2018 1:31 pm

My grandfather told me stories about his casino visits (pre-1964) and the amount of Morgan and Peace dollars that went through his fingers while playing slot machines in Vegas. Later on he kicked himself for not keeping them, but says they were just too heavy to lug around. Those were the days!
Time is precious, stop wasting it.
Cu Penny Hoarder
Post Hoarder
 
Posts: 2190
Joined: Tue Sep 06, 2011 8:44 pm

Re: Casino as a dump bank.

Postby coindood » Thu Apr 05, 2018 11:38 pm

Cu Penny Hoarder wrote:My grandfather told me stories about his casino visits (pre-1964) and the amount of Morgan and Peace dollars that went through his fingers while playing slot machines in Vegas. Later on he kicked himself for not keeping them, but says they were just too heavy to lug around. Those were the days!


Ohh, aren't those stories cringeworthy?

I knew a nice gent who ran an in-hotel jewelry store for decades. He used to bring home small wins from the (silver) dollar machines and toss them in a sack in his closet. Till one day he stubbed his toe really bad on the bag, got pissed and cashed them all in. Makes me wanna cry.
coindood
1000+ Penny Miser Member
 
Posts: 1277
Joined: Fri Apr 18, 2014 1:41 am

Re: Casino as a dump bank.

Postby hobo finds » Fri Apr 06, 2018 8:54 am

I assume the silver dollars were the first coins to get removed easy to tell the difference from the Ikes. I would think that other coinage had a good mix of silver and clad for awhile coming out of the slots.
hobo finds
Too Busy Posting to Hoard Anything Else
 
Posts: 5928
Joined: Mon Dec 29, 2008 3:00 pm
Location: Tucson

Re: Casino as a dump bank.

Postby Recyclersteve » Fri Apr 06, 2018 7:20 pm

Admittedly, this is off track from the original topic of the thread, but I still remember seeing silver dollars in 2x2's that were selling between $1.15 and $1.30 or so each. If only I had the foresight to buy and hold til 1979-80.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4424
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Casino as a dump bank.

Postby cwgii » Thu May 17, 2018 7:06 pm

since we have 4 casinos, i use them regularly to cash in nickels and dimes . especially on weekends when the cu's are closed
cwgii
Too Busy Posting to Hoard Anything Else
 
Posts: 4379
Joined: Sun Oct 12, 2008 10:00 am
Location: tucson

Re: Casino as a dump bank.

Postby coindood » Thu May 17, 2018 9:56 pm

One of our local casinos has added a 9% fee to use the self-serve counters. No charge if you bring them to the cage though. Weird.
coindood
1000+ Penny Miser Member
 
Posts: 1277
Joined: Fri Apr 18, 2014 1:41 am

Re: Casino as a dump bank.

Postby Recyclersteve » Fri May 18, 2018 12:25 am

coindood wrote:One of our local casinos has added a 9% fee to use the self-serve counters. No charge if you bring them to the cage though. Weird.


That could be because the counters are owned by someone else (not necessarily Coinstar), and that other party won't give a break on the fee.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4424
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Casino as a dump bank.

Postby coindood » Fri May 18, 2018 9:37 am

Recyclersteve wrote:
coindood wrote:One of our local casinos has added a 9% fee to use the self-serve counters. No charge if you bring them to the cage though. Weird.


That could be because the counters are owned by someone else (not necessarily Coinstar), and that other party won't give a break on the fee.


I dunno. The same counters were there and fee-free for many months. Really makes me shake my head seeing people cashing out $200 in quarters then using these for-fee sorters rather than walk to the other side of the room and getting 100% from the cashier. :roll:
coindood
1000+ Penny Miser Member
 
Posts: 1277
Joined: Fri Apr 18, 2014 1:41 am

Re: Casino as a dump bank.

Postby Doctor Steuss » Fri May 18, 2018 11:36 am

PennyPincher wrote:I'd like to find a bank in Las Vegas that will sort coins for free with a machine. Wells Fargo and Chase don't do it.

Silver State Schools Credit Union, and InTouch Credit Union had free coin-counting for members as of a year ago (when I stopped sorting). Silver State had lobby machines, and InTouch took the coins to the back to count.
"Deferential, glad to be of use, Politic, cautious, and meticulous; Full of high sentence, but a bit obtuse; At times, indeed, almost ridiculous— Almost, at times, the Fool." ~Eliot
User avatar
Doctor Steuss
1000+ Penny Miser Member
 
Posts: 1050
Joined: Wed May 18, 2011 10:09 am
Location: Las Vegas

Re: Casino as a dump bank.

Postby PennyPincher » Thu Jun 07, 2018 8:07 pm

Doctor Steuss, that's interesting, and thanks for the information. I'll have to look into it. Silver State Schools CU looks convenient for me. It's easy for me to get penny rolls, but inconvenient to cash in the zinc pennies. Silverton casino switched to a Coinstar machine with a 5% fee.
PennyPincher
 
Posts: 21
Joined: Wed Feb 01, 2017 9:19 pm

Re: Casino as a dump bank.

Postby Recyclersteve » Thu Jun 07, 2018 11:40 pm

Keep in mind that some of the Coinstar machines allow you to get gift cards to perhaps 10 or more places (Home Depot, etc.) with no fee whatsoever.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4424
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Casino as a dump bank.

Postby Tourney64 » Fri Jun 08, 2018 8:32 am

I have been burned by a casino coin counter, because it didn’t count the coins accurately. Try a small sample at first.
L
Tourney64
Post Hoarder
 
Posts: 2946
Joined: Thu Jun 08, 2006 5:00 pm
Location: Indianapolis, Indiana

Re: Casino as a dump bank.

Postby chris6084 » Fri Jun 08, 2018 9:11 pm

Tourney64 wrote:I have been burned by a casino coin counter, because it didn’t count the coins accurately. Try a small sample at first.
L


There has to be a house edge on everything!
User avatar
chris6084
1000+ Penny Miser Member
 
Posts: 1335
Joined: Wed Nov 26, 2008 10:00 am


Return to Copper Penny Bullion Investing

Who is online

Users browsing this forum: No registered users and 14 guests

cron