Penny Story airing on Good Morning America tomorrow morning

[slickeast]

Cent1225, what reason did the manager give?

[fasteddy]

My closest CU calls me when they get CWR's of coin...just picked up from two of the three tellers...one of them asked if I saw the penny story on nightline. I responded, "I did, imagine saving pennies" with a wink I left with my bootie......people have been getting cut off before this....i got cut off from two banks last year. Just keep trying.

[knibloe]

Cent1225, what reason did the manager give?

Probably keeping them for himself

[Cent1225]

I have just been telling them I like collecting old coins since I am retired and have the time. (This is true since pre-1982 copper is old coins). He said he didnt believe me. He said that sorting $50 per week was more than just looking for old coins, that I must be hoarding the copper like on the show.
Tried to reason with him but he said, Sorry! He just didn't want to be a part of that sort of thing.
I am thinking of making him my dump bank. Wonder how long that will last.

[Thogey]

'"He just didn't want to be a part of that sort of thing.? " WTF?

Like your pimping teenage hookers!?

[TheJonasCollegeFund]

I have just been telling them I like collecting old coins since I am retired and have the time. (This is true since pre-1982 copper is old coins). He said he didnt believe me. He said that sorting $50 per week was more than just looking for old coins, that I must be hoarding the copper like on the show.
Tried to reason with him but he said, Sorry! He just didn't want to be a part of that sort of thing.
I am thinking of making him my dump bank. Wonder how long that will last.

Welcome new dumpbank!

[njoElec]

I pay $15 a month for my bank account and they're going to supply me with all of the dag gone pennies I want!

[Ireland_925]

I kinda wondered where this media story would go. Honestly, my first reaction was that this kind of attention would destroy buying boxes of pennies, as banks aren't in the business to make you money. I figured that either (A) them figuring out what you're doing, or (B) a rush to the banks for people trying to make a quick buck, or a combination of both would lead banks to really crack down on buying boxes. To be fair, I don't buy boxes to sort, I sort my change/buy other people's bulk change. So, I really don't know how much crap the average person had to put up with before to order a limited or unlimited quantity of cents. But, I am interested to see how this affects the regular copper penny sorting guy/girl. My general thought about the two key points about the story is "do you want more for less" or "do you want less for more"? Just curious to see how this affects availability of cents.

[pennyhoard]

I would tell the manager to close the account

[hags]

He said that sorting $50 per week was more than just looking for old coins, that I must be hoarding the copper like on the show.

$50 a week is nothing....even if you were only looking for old coins.... you could do a bag a night easily....

Should of asked him how else do I find old coins without putting my time in?
You realize that 20 - 30 wheat cents per $50 bag is average....then you divide the post 40s coins by the pre 40s and realize you have 3 times greater chance the wheat cents you find will be 40s or 50s....so how are you to find all the early wheat cents if you don't have bags and bags of coins to search?......what a flunkie.....coin collecting is at the heart of banking, or at least it use to be....you could buy collector coins from banks back in the day and they often handed out folders to collect different series....I bet that manager was a young gun?

hags

[newton7]

Went to a bank I typically get $50 per week from today. Manager said he saw the story and I could no longer have pennies. So far the contagion has not spread to my other banks.
Loose lip sink ships.

Ouch! That's what I fear! I decided to lay low a while and if I do buy to sort I will do it in a mixed batch. Nickels and pennies or dimes and pennies just to give the impression that I'm not a penny hoarder.

[fb101]

Went to a bank I typically get $50 per week from today. Manager said he saw the story and I could no longer have pennies. So far the contagion has not spread to my other banks.
Loose lip sink ships.

DUMP BANK!
Say Hello to him when you walk in and deposit a few hundred in coin.
If he objects to that tell him they're doing a TV show about banks who are not accepting customers deposits.

[tinhorn]

Did a lot of buying (cold calls) after work yesterday and today.
1) Two BoA branches where I don't have an account were very helpful.
2) A bank I'd never been in before sold me two boxes and said if I opened an account they'd sell me all the pennies I want.
3) Another bank where I have no account (but buy $50 every couple weeks) asked me how much I wanted to order for next Saturday, but this was after I handed the head teller a box of Christmas-wrapped chocolates "for the break room to thank you all for being so helpful with my weird hobby".
4) The manager of a bank where I have no account, but which often has CWRs I can buy, went into the vault to get me an extra two boxes of CWRs.

Sheesh--I just realized that ALL the banks I visited were banks where I don't have an account. I ran out of money ($400) before I got to any of the banks where I DO have accounts.

[HoardCopperByTheTon]

2) A bank I'd never been in before sold me two boxes and said if I opened an account they'd sell me all the pennies I want.

How many of us have heard that?

What Cent has experienced is some of what I expected when the idea was first proposed.

On a good note.. I ran into one of my old bankers Saturday night at a Christmas party. She used to work at Wakovia before they got bought and elimated by Wells Fargo. They used to be really good about getting me my weekly $600 order. Now she works at a branch of a competing bank that I actually already have an account at, but had not been to that particular branch. Guess who is going to be getting all that branch's CWR as well as regular weekly orders of penny boxes.

[CardsNCoins]

......Guess who is going to be getting all that branch's CWR as well as regular weekly orders of penny boxes.

What helped you win her over more, the mistletoe, or the spiked egg nog?

[hags]

So far the contagion has not spread to my other banks.

On my normal penny route today I was denied bags from Associated Bank (270 branches upper midwest).....I've been buying bags from the two local branches for over a year and both would even call me whenever they had excessive bags filling up the small vaults they both have....they seemed to enjoy actually getting rid of the coins with one phone call....but all that has changed...

I asked why the policy change and they both said "corporate said no bags are to be sold to anyone"....no other explanation....and the same answer from each branch (ya, I had to check both to see if I got the same story)....I'm going to press the issue a bit to get a better answer...it doesn't really bother me, I planned to stop sorting pennies as of the first of the year....maybe my exit is more timely then I realize....

hags