Dump Tips and Tricks

[HoldingAg]

Hello Everyone,

I just got a Ryedale last week and have only run about 150fv through it so far, I love it. Before the Ryedale I was a hand sorter, and only did a box or three a week. When I was hand sorting, dumping was fairly easy. When I had close to $50-75fv I would send my sister in law to the local TD Bank that has a coin counter. They used to let me do it for free but I don't have an account there so I send her because she does have an account there. I am definitely going to open an account there ASAP. I was thinking of telling the branch manager that I was opening the account solely as a coin collector.

My problem is that now that I have the Ryedale, I will have way more than $100fv of Zincolns to dump. Are there banks that offer those big plastic bags to return change in? Is TD Bank one of them? How should I go about opening the dump account, tell them its a business account? Basically I am looking for the easiest, least shady/embarrassing way to unload mass amounts of zincs.

Any tips, tricks, and info on dumping pennies would be greatly appreciated and valued by myself and I am sure other new realcent.org members!


Thanks!

[fasteddy]

IMHO honesty is the way to go....I interviewed my new dump bank..even ask which service picks up their coin....they give me the bags...I double count out 5000 cents for each bag and drop off 8-12 bags every other Tuesday...yep honesty for me.

[adagirl]

Even in the world of corrupt fractional banking and corrupt politics, I do agree that honesty is the best policy. The tellers and managers are not aware of just how corrupt the bank they work for is, they are just your average honest Joe trying to make a living. Let 'em know you have alot of pennies to dump, I mean deposit, and you want to see if they can accomodate your needs.

[adagirl]

IMHO honesty is the way to go....I interviewed my new dump bank..even ask which service picks up their coin....they give me the bags...I double count out 5000 cents for each bag and drop off 8-12 bags every other Tuesday...yep honesty for me.

What do you use to count your zinc pennies? Do you hand count or use a machine?

[NotABigDeal]

Find a bank that accepts loose coin. Open an account with them. You don't really need to have a lot of money in there, but some helps. Be sure to keep up the "face time" at the branch. Once you are on a first name basis, you are all good, hehe. Bribes to the ladies/gents never hurt, and are in fact encouraged. Some use candy/chocolate but I use fountain drinks. They love me, honest. The individual workers tell me what Saturdays they work so that I come when they are there.

Those lobby machines tend to be a little slow. The behind-the-scene machines usually breeze right through them.

I return in canvas bags that are given back to me when they are done running them. I do not count the zincs before I return them. Some banks want you to have pre-counted bags and they credit you later. I get immediate cash for mine, that's the way to go.

Once you have a good dump machine, look for another. Buy the cents from this machine. Bags are the best in more ways than one. Ask the branch how much is too much to return at once. I keep mine below $1000, but some are allowed much less. I've been making weekly trips to them for several years so they definately know me, hehe.

As far as letting on to what you are doing, semi-honesty works best. "I'm a coin collector that looks through coins for anything of value." Or, "I pull the coins that have value." The most frequent questions I get are about where I get all the coins I'm returning.

Deal

[HoldingAg]

So Notabigdeal,

What do you tell the teller when they ask you where you are getting all the coins you are returning?

Thanks,
HoldingAg

[NotABigDeal]

Now remember, at my primary dump bank they are used to me and there are no questions. But my reply other place varies depending on the "vibe" I'm getting from the whole shabang. Good vibe then I tell them a semi-honest answer. I tell them from other banks. Which is mostly true. Bad vibe then my response is more along the lines of so-and-so died and he/she collected all kinds of change. The family is trying to cash it all in a little at a time. That one can work for quite a long time if played right. I used it for a while a few years ago.

Turning in a collection....
Been saving change for a vacation....
Bought the local penny drive coins....
All kinds of things.

If you can talk to someone higher on the foodchain at the bank and setup a return schedule that best suits them. Dates, times, amounts, etc. Having an account or two there really does go a long way. Good luck.

Deal

p.s. Remember, buy bags if you can. More bang for the buck and less work to sort....

[John_doe]

I could sell you some canvas bank bags for $5 each + shipping costs. These are the nice coin bags, I can take pics if needed. They hold 80-100 fv.

[HoardCopperByTheTon]

I like the bags that hold 300,000 pennies.. but they are kind of hard to tote around.

[ed_vantage17]

About canvas bags: I had a teller tell me they prefer canvas bags to tote your coin to the counter because they don't have to worry about it bottoming out like ziplock can. They're easier to carry too according to this teller. Anything I can do to make it easier on my business partners is the name of the game.