Dump banks...how often and how much

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

Dump banks...how often and how much

Postby inflationhawk » Mon Mar 14, 2011 9:36 pm

I'm curious to hear from other active penny sorters...how often do you visit the same dump bank branch and how much do you dump in one visit? I am interested in hearing about those that use a coin sorting machine like the penny arcade at TD Bank. I have been going 3 times a week and dumping 30 to 40 dollars of only pennies each time.
inflationhawk
Penny Hoarding Member
 
Posts: 846
Joined: Sat Feb 19, 2011 1:10 pm

Re: Dump banks...how often and how much

Postby shinnosuke » Mon Mar 14, 2011 9:47 pm

I dump almost every weekday at my credit union and occasionally on Saturday...but I'm still new at this. Some days it's just $50 to $75 in pennies along with a few dimes/quarters that I picked up in change. On the days following my halves pick-ups, I leave $1000 in halves plus some pennies. The bank associates have never complained, but some are curious. If I travel to another area of town I will try to dump some at another branch, but haven't felt like that was necessary so far.
“Google is what happens when we pool information energy on a software network. Everyone understands this. Bitcoin is what happens when we pool monetary energy on a software network. Few understand this.”
Michael J. Saylor
User avatar
shinnosuke
Super Post Hoarder
 
Posts: 3983
Joined: Mon Feb 14, 2011 7:10 pm
Location: Texas

Re: Dump banks...how often and how much

Postby slickeast » Mon Mar 14, 2011 10:08 pm

Once or twice a week. The CU limits me to $300 a day per location. They don't care if I come every day. There are 3 branches that have machines. So I can dump $900 a day. They are building a new one that is in the route I am already taking. Looking forward to adding it to the line up. I use another bank to dump halves. Usually split it into 2 visits.

If you go too often and dump too much you might get cut off. Dumped $5000 in one wk once. Got called into the office and got cut off.
You don't have to be the BEST you just have to be....... SLICK
User avatar
slickeast
Too Busy Posting to Hoard Anything Else
 
Posts: 6042
Joined: Thu Jan 08, 2009 3:00 pm
Location: South Carolina

Re: Dump banks...how often and how much

Postby Morsecode » Mon Mar 14, 2011 10:22 pm

In a normal week I'll sort $200, leaving $140 to dump, so no matter how or where I do it, it's not much of an issue. The most I've ever taken to one branch is around $100, but usually $50.

When I have more productive weeks I still adhere pretty much to those daily max limits.
From hence ye beauties undeceived, know one false step is ne'er retrieved
and be with caution bold.
Not all that tempts your wandering eyes and heedless hearts is lawful prize,
nor all that glistens gold.
- Thomas Gray, 1747
User avatar
Morsecode
Too Busy Posting to Hoard Anything Else
 
Posts: 4234
Joined: Thu Feb 10, 2011 10:04 pm
Location: Southern New England

Re: Dump banks...how often and how much

Postby OtusLotus » Mon Mar 14, 2011 10:33 pm

Screw that! I don't care how much I bring to my TD bank...and neither do they!

TD is great for that... I just usually don't go to the bank when it is super busy, usually around closing time.. that way there isn't usually a line and if I fill up a bag, there is plenty of people to help me!
User avatar
OtusLotus
Penny Hoarding Member
 
Posts: 790
Joined: Sun Dec 12, 2010 11:21 pm
Location: Freehold, NJ


Return to Copper Penny Bullion Investing

Who is online

Users browsing this forum: No registered users and 12 guests