Anyone having difficulty sourcing coin?

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

Anyone having difficulty sourcing coin?

Postby coppernickel » Mon Sep 12, 2016 6:33 pm

Is anyone have difficulty getting cents or coin to sort?

I picked up a box at Wells Fargo today. It struck me they are the last bank in the area where I can get more than a dollar or two worth of cents. The other banks have a "come a part" if I ask for more than $1-2 at a time.

For dumping I have two credit unions I use, and they run a brisk business of counting. Sometimes I am third or forth in line. That part is going well.
Silver Monometalism is the most permanent and stable form of money the world has seen. Natural law and history prove silver value is best multiplied by gold and best divided by copper. It is only in this counterfeit currency time when the natural law appears suspended.
User avatar
coppernickel
1000+ Penny Miser Member
 
Posts: 1094
Joined: Fri Aug 14, 2009 10:00 am
Location: American Redoubt

Re: Anyone having difficulty sourcing coin?

Postby TwoAndAHalfCents » Mon Sep 12, 2016 9:36 pm

Some of the branches I have stopped at on the way home from work have had very few pennies available but it's not a widespread problem. Overall I'm still able to pick up more than I can sort.
User avatar
TwoAndAHalfCents
1000+ Penny Miser Member
 
Posts: 1633
Joined: Wed May 04, 2011 1:38 am
Location: Southern California

Re: Anyone having difficulty sourcing coin?

Postby wolvesdad » Mon Sep 12, 2016 9:48 pm

I think it costs the banks $5-$7 per box of pennies to have 'Brinks' deliver. Maybe times are getting tighter for the branches to meet corporate quota, so they are getting tighter on handing out small change.

Dunno. My 2cents
User avatar
wolvesdad
Super Post Hoarder
 
Posts: 3223
Joined: Wed Feb 13, 2008 10:00 am

Re: Anyone having difficulty sourcing coin?

Postby Recyclersteve » Mon Sep 12, 2016 9:53 pm

Tell Wells Fargo you want to open a fake bank account. In light of the recent news about them, it would be interesting to see what they would do if you tried that. :)
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: 4455
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Anyone having difficulty sourcing coin?

Postby Copper Catcher » Tue Sep 13, 2016 9:51 am

Recyclersteve wrote:Tell Wells Fargo you want to open a fake bank account. In light of the recent news about them, it would be interesting to see what they would do if you tried that. :)

:thumbup:
User avatar
Copper Catcher
Too Busy Posting to Hoard Anything Else
 
Posts: 5206
Joined: Sat Jan 26, 2008 3:00 pm

Re: Anyone having difficulty sourcing coin?

Postby highroller4321 » Tue Sep 13, 2016 12:58 pm

wolvesdad wrote:I think it costs the banks $5-$7 per box of pennies to have 'Brinks' deliver. Maybe times are getting tighter for the branches to meet corporate quota, so they are getting tighter on handing out small change.

Dunno. My 2cents



It costs the bank 3-14 cents per roll to order coin. The price various by location, volume, ect.
highroller4321
Realcent Moderator
 
Posts: 7214
Joined: Sat Oct 25, 2008 10:00 am
Location: Portland,Oregon

Re: Anyone having difficulty sourcing coin?

Postby wolvesdad » Tue Sep 13, 2016 1:48 pm

So $1.50 up to $7 for a box of Cents.

I know the Wells Fargo branch in south Texas told me $15 for a $500 box of halves 6-7 years ago.

They wanted me to split the cost and pay $7.50.

Another bank some time in between indicates cents cost about $5 a box.

So, not free, but in skme markets it shouldn't be a big expense to the bank.
User avatar
wolvesdad
Super Post Hoarder
 
Posts: 3223
Joined: Wed Feb 13, 2008 10:00 am

Re: Anyone having difficulty sourcing coin?

Postby wheeler_dealer » Tue Sep 13, 2016 3:23 pm

Good information to have. My branches have coin counting machines and they are not to happy to sell me anything other than minimal amounts.( no cents). Could be because I'm still dumping hundreds in cents every month. LOL.
wheeler_dealer
1000+ Penny Miser Member
 
Posts: 1041
Joined: Mon Mar 10, 2008 10:00 am
Location: Western New York

Re: Anyone having difficulty sourcing coin?

Postby Doctor Steuss » Tue Sep 13, 2016 3:59 pm

It's been a little while since I've hit up any branches, but in the past they have always been more than happy to sell me customer rolls (as it meant they didn't have to break them open, count them, bag them, and send them off).
"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: 1061
Joined: Wed May 18, 2011 10:09 am
Location: Las Vegas

Re: Anyone having difficulty sourcing coin?

Postby wolvesdad » Tue Sep 13, 2016 6:16 pm

Doctor Steuss wrote:It's been a little while since I've hit up any branches, but in the past they have always been more than happy to sell me customer rolls (as it meant they didn't have to break them open, count them, bag them, and send them off).


Right!! It's just tough sometimes finding a bank that has a 'surplus' of CWR coin. If you do, that is the best situation.
They are happy to see you and you are happy to help them.
User avatar
wolvesdad
Super Post Hoarder
 
Posts: 3223
Joined: Wed Feb 13, 2008 10:00 am

Re: Anyone having difficulty sourcing coin?

Postby moboman » Wed Sep 14, 2016 11:25 pm

I'm sitting on a nice pile of unsearched rolls and bags if anyone wants to cover shipping, or they are close by, I would be happy to help out.
Constantly choosing the lesser of two evils is still choosing evil. - Jerry Garcia
User avatar
moboman
Post Hoarder
 
Posts: 2659
Joined: Thu Mar 20, 2008 3:00 pm

Re: Anyone having difficulty sourcing coin?

Postby narragansett » Mon Sep 19, 2016 6:19 pm

My bank cut me off about 6months ago. There are a couple banks out of state but nearby that will give me a box or 2 permonth. Almost not worth it.
narragansett
Penny Pincher Member
 
Posts: 154
Joined: Fri Oct 01, 2010 7:28 pm
Location: NW Mass.

Re: Anyone having difficulty sourcing coin?

Postby JobIII » Mon Sep 19, 2016 9:23 pm

I haven't been cent sorting in some time. Graduated to the minors and only hunt/deal in silver. I would say for my area and for fed wrapped rolls, the issue was not ordering coins. It is how you are returning those cents. Now that TD bank's coin counting machines have been turned off. The only way i would be able to return cents is by bags to say a BoA. Which would then take some time to get credited into my account.

~JobIII
Follow my blog here: http://xxjobiiixx.blogspot.com
Check here and please remember to follow us also: http://coinwholesales.blogspot.com
Watch my youtube videos: https://www.youtube.com/user/xxJOBIIIxx
JobIII
Post Hoarder
 
Posts: 2489
Joined: Mon Apr 06, 2009 3:00 pm

Re: Anyone having difficulty sourcing coin?

Postby JobIII » Mon Sep 19, 2016 9:23 pm

I haven't been cent sorting in some time. Graduated to the minors and only hunt/deal in silver. I would say for my area and for fed wrapped rolls, the issue was not ordering coins. It is how you are returning those cents. Now that TD bank's coin counting machines have been turned off. The only way i would be able to return cents is by bags to say a BoA. Which would then take some time to get credited into my account.

~JobIII
Follow my blog here: http://xxjobiiixx.blogspot.com
Check here and please remember to follow us also: http://coinwholesales.blogspot.com
Watch my youtube videos: https://www.youtube.com/user/xxJOBIIIxx
JobIII
Post Hoarder
 
Posts: 2489
Joined: Mon Apr 06, 2009 3:00 pm


Return to Copper Penny Bullion Investing

Who is online

Users browsing this forum: No registered users and 26 guests