newbie with a Q

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newbie with a Q

Postby 97guns » Fri Nov 12, 2010 11:00 am

do banks usually stock boxes?

how many do you guys buy at a time?

do you take them back to the bank?
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Re: newbie with a Q

Postby michindi » Fri Nov 12, 2010 11:17 am

Yes they do have the boxes. I usually buy a box at a time. No I dont take them back to the back.
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Re: newbie with a Q

Postby TXBullion » Fri Nov 12, 2010 11:23 am

Substantial orders will require you to pre order. You may be able to get 4 boxes on hand if the bank does some volume and will give it to you.
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Re: newbie with a Q

Postby 97guns » Fri Nov 12, 2010 11:37 am

do you guys take them to coinstar?

do you ask for customer rolled pennies?
Retired in 2009 with 300K in net worth by going all in with cash flowing real estate. every disposable penny goes back into savings via PM's - by using this technique my net worth has nearly doubled up.

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Re: newbie with a Q

Postby TXBullion » Fri Nov 12, 2010 11:50 am

Coinstar is not ideal because if you cash out, you lose 10%. You need to find a dump bank. A place where you take back the zincs and convert them to cash so you can buy more coin to sort. Dont pickup and dump at the same place. Oh yes,welcome to the club.
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Re: newbie with a Q

Postby slickeast » Fri Nov 12, 2010 1:47 pm

You can usually pick up a box by just walking in. if you need more you will need to order them. Always take the customer wrapped rolls (CRW's). The bank has to break them open to send back and the love getting rid of them.

NEVER take coin back to the bank you get coin from. This is the ultimate no no.

Never use coin star unless you need a gift certificate.

Find banks that have a free lobby machine. Don't wear out your welcome dumping too much or too often.

Open up accounts at any bank that is supplying coin or allowing you to dump. Get in good with the head teller. Always show up when you say you will.

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Re: newbie with a Q

Postby Mike » Fri Nov 12, 2010 7:07 pm

I normally buy boxes one at a time. Only once when buying a single box did I get a "did you call ahead for the box?".
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Re: newbie with a Q

Postby HoardCopperByTheTon » Sat Nov 13, 2010 10:14 am

I can sometimes get 1-4 boxes on a driveby.. if they have extras. But they usually like me to preorder.. since I like to get 24 boxes at a time. :mrgreen:
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Re: newbie with a Q

Postby 97guns » Sat Nov 13, 2010 10:32 am

thanks guys, what is the best way to take them back - boxed up again?
Retired in 2009 with 300K in net worth by going all in with cash flowing real estate. every disposable penny goes back into savings via PM's - by using this technique my net worth has nearly doubled up.

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Re: newbie with a Q

Postby NDFarmer » Sat Nov 13, 2010 10:41 am

The best way to take them back is to find a bank that has a coin counter in their lobby for their customers to use. That way you don't have to take the time to reroll them. It is much easier and quicker to take a $50.00 bag of loose pennies back than to sit there and reroll them. And a lot banks will break open the rolls and run them through their coin counter before they will pay you anyway. So look around and if you can't find a coin counter in the lobby then ask them how they would like the pennies returned.
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Re: newbie with a Q

Postby TXBullion » Sat Nov 13, 2010 1:35 pm

There is at least one bank where you just give them all your coin, they bag it and then it credits your account a few days later. This is convenient too. Just make sure if you find this and can do it, check "mixed coin" even if it is all pennies. You may get shorted (since the zinc is lighter) as I found out and at least one other member in another state.

Edited, you get shorted because they weigh it (forgot to add that) In this particular case it was Loomis, Thats what the bank said but I have no idea of the truth, very long story..... :x
Last edited by TXBullion on Sat Nov 13, 2010 8:31 pm, edited 1 time in total.
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Re: newbie with a Q

Postby Joogaler » Sat Nov 13, 2010 3:02 pm

TXBullion wrote:There is at least one bank where you just give them all your coin, they bag it and then it credits your account a few days later. This is convenient too. Just make sure if you find this and can do it, check "mixed coin" even if it is all pennies. You may get shorted (since the zinc is lighter) as I found out and at least one other member in another state.


My local BB&T branch lets me return my zincs in coinlok bags of $50.00 and credits my account or my pocket immediately! This really comes in handy when you don't have a huge bank roll to work with. But this also may vary branch to branch.
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Re: newbie with a Q

Postby slickeast » Sat Nov 13, 2010 7:53 pm

I have a BB&T that will let me bring in bags of pennies. She limits me to 200.00 a week, but it helps
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Re: newbie with a Q

Postby Joogaler » Sat Nov 13, 2010 11:15 pm

slickeast wrote:I have a BB&T that will let me bring in bags of pennies. She limits me to 200.00 a week, but it helps


I must have the best BB&T branch ever! They let me bring in like $600 a week!
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Re: newbie with a Q

Postby slickeast » Sat Nov 13, 2010 11:52 pm

Joogaler wrote:
slickeast wrote:I have a BB&T that will let me bring in bags of pennies. She limits me to 200.00 a week, but it helps


I must have the best BB&T branch ever! They let me bring in like $600 a week!


WOW, sweet.

She is also kind enough to order up to 3000.00 a week in LOOSE halves.
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Re: newbie with a Q

Postby Joogaler » Sun Nov 14, 2010 8:37 pm

slickeast wrote:
Joogaler wrote:
slickeast wrote:I have a BB&T that will let me bring in bags of pennies. She limits me to 200.00 a week, but it helps


I must have the best BB&T branch ever! They let me bring in like $600 a week!


WOW, sweet.

She is also kind enough to order up to 3000.00 a week in LOOSE halves.


That's pretty awesome! I think it's weird how they seem to have different rules from branch to branch. But hey I'm not complaining, if they had the same rules us realcenters probably wouldn't be able to get anything.
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Re: newbie with a Q

Postby misteroman » Sun Nov 14, 2010 10:29 pm

yOu guys that get bags are darn lucky!
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Re: newbie with a Q

Postby TXBullion » Sun Nov 14, 2010 11:11 pm

:D I have never had the luxury of a loose back to sort. I can only imagine. Roll opening is so time consuming. I had a chance with one bank but chose them as a dump instead of supply but I might try another branch as a supply just to get a taste of the good life
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Re: newbie with a Q

Postby 97guns » Mon Nov 15, 2010 8:28 am

misteroman wrote:yOu guys that get bags are darn lucky!



how do you get bags?

how much are they?
Retired in 2009 with 300K in net worth by going all in with cash flowing real estate. every disposable penny goes back into savings via PM's - by using this technique my net worth has nearly doubled up.

ABCD investing - ANYTHING BERNANKE CAN'T DESTROY
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Re: newbie with a Q

Postby HoardCopperByTheTon » Mon Nov 15, 2010 10:38 am

Yep.. you guys with the bags are so darn lucky.. some of us gotta work a little to get our copper. I don't think Santa is gonna be bringing the RollCracker1000 this year either.. even though I been good. :mrgreen:
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Re: newbie with a Q

Postby exbingoaddict » Mon Nov 15, 2010 11:32 am

Since we're on the box topic. Anybody have a favorite among the suppliers, Brinks, Dunbar, etc?
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Re: newbie with a Q

Postby 97guns » Mon Nov 15, 2010 3:18 pm

i just picked up mt first box, they were rolled in plastic. i have only cracked open 1 roll and it's yielded 10 coppers, is 20% about on par?

its pretty tedious work for the pay, im not sure if im cut out for it.
Retired in 2009 with 300K in net worth by going all in with cash flowing real estate. every disposable penny goes back into savings via PM's - by using this technique my net worth has nearly doubled up.

ABCD investing - ANYTHING BERNANKE CAN'T DESTROY
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Re: newbie with a Q

Postby Joogaler » Mon Nov 15, 2010 4:12 pm

exbingoaddict wrote:Since we're on the box topic. Anybody have a favorite among the suppliers, Brinks, Dunbar, etc?


I like brinks because of the plastic wraps. Some people might think I'm crazy for saying that, but it takes me about 5 seconds to have the whole roll out of the wrapper, and stacked in my hand so I can feed my FrankenSorter.
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