Bank of America & Brinks

[sdmarasso]

OK I have been sorting through Half Dollars for a while now. I sort through 20k worth a week. Most of it comes from B of A who is nice enough to order them for free. I have about 100 dump banks that I use to make sure I get plenty of rotation in and hopefully don't get booted. Obviously I don't want to dump back into my source. I have been trying to figure out how the banks deal with coin exactly but no one is very forthcoming with this info. B of A uses Brinks. Does anyone know if B of A has their own coin vaults and uses Brinks strictly as armed transportation or Do they purchase coin from Brinks? One of my dump banks uses brinks as well but I know they don't have a coin vault. I am hoping B of A has their own and doesn't purchase from Brinks otherwise I may be sticking sorted coins right back where they come from. The banks I currently use to dump are Wells Fargo, US Bank, Chase, Mission Federal Credit Union, Bank of the West and my source bank is B of A. Does anyone know how any of the other Banks I listed process coin and Where they get their coin from? A lot of these banks are very tight lipped about it. They say its for security reasons which is understandable. I have been told that B of A has their own vault and just uses Brinks to transport but I am not sure how reliable the information is. Obviously I do a lot of volume and these banks DO NOT like to take coin. I was booted by Union Bank of California a few weeks ago for it. Oh Well. It gets hard to spread it out when you do the kind of volume that I do. Any info anyone has would be much appreciated.

Shawn

[JadeDragon]

Welcome to the forum = at 20k a week you will fit in well here. I understand that few banks actually run their own coin vault. Usually the armored car company operates it for them. In some cases the coin vault for a bank is a fenced area inside the Brinks warehouse operated for the bank. I doubt you can really avoid sending the coins back into the same pool, but the pool is pretty large and you have to be very large scale to really impact yourself.

[sdmarasso]

Thanks for the reply. I am hoping that you are right and it would take a lot more volume than 20k a week to start mixing up the coin I am currently sorting through. I really don't see any other choice though. Most of the banks use the same few carriers and it's not like there is an overwhelming amount of banks that are happy to take coin. The banks really piss me off. They have no problem holding your cash and making money off your money while giving you a pittance in return but if they have to do something out of the ordinary for you they interrogate you and either cut you off or want some of your profits. I hate the way they make me almost feel like I'm doing something taboo or illegal. Gotta love fractional reserve banking. The whole lot of them are a bunch of thieves.

[zerocd]

20K is a job alright. I did 8K/wk for a year plus and the dumps get to be tough. I know the coin counters better than most.
I have been through my share of lectures and bans and have taken a break for now.

I find that some banks have their own central vaults which are serviced by local amored car services and some must get coin from a more common vault.
For instance. I have two different banks across the street from each other which share the same car service and I can tell by the boxes and coins that they are the same source. I had one bank manager explain that the car service they use gets coins from their own vault.

One thing, after a couple years of heavy lifting, I don't think I was getting the same coin back. The local pool must be pretty big. After I cleaned out the little bank hotspots, I think most of my silver was from coins that re-entered the pool recently, probably from coin machines. That is a guess. The truth is opaque.


Best of luck to you and I hope you can find time to post your finds.

0CD

[AGCoinHunter]

Interesting. I got a bag the other week from Union Bank of California and I am on the east coast.

Regarding Brinks and the other coin carriers I think regardless of where you dump, your coins eventually make it back into your hands. Why I say this is I have been able to track coins that get dumped into Brinks vaults and end up with other carriers. Bags I get all the time are marked with Brinks and I know they didnt get delivered by Brinks. What I believe happens is Brinks and the other carriers hold a certain amount of coins in their facilities and when those get low they pull from a central coin facility which isnt necessarly a certain carrier. Or my second theory is they buy and sell between each other. This is the only way I can explain getting bags from one carrier deliverd by a different one.

20k a week is quite an undertaking. I know of maybe 1 other person that has done that much weekly on this forum. Think he has dropped his searching significantly because of the lack of silver finds and the fees he is charged. I only do 2k a week and I know its a pain in the a$$ to get rid of the clad.

[AgCollector]

...I have two different banks across the street from each other which share the same car service and I can tell by the boxes and coins that they are the same source...

That's what I look for too. At 20k/wk you probably can't avoid recirculating some but if you try to preferentially drop off at banks that have different box / roll styles than what you pick up then that's the best you can do, short of driving it into another federal reserve district!

[highroller4321]

OK I have been sorting through Half Dollars for a while now. I sort through 20k worth a week. Most of it comes from B of A who is nice enough to order them for free. I have about 100 dump banks that I use to make sure I get plenty of rotation in and hopefully don't get booted. Obviously I don't want to dump back into my source. I have been trying to figure out how the banks deal with coin exactly but no one is very forthcoming with this info. B of A uses Brinks. Does anyone know if B of A has their own coin vaults and uses Brinks strictly as armed transportation or Do they purchase coin from Brinks? One of my dump banks uses brinks as well but I know they don't have a coin vault. I am hoping B of A has their own and doesn't purchase from Brinks otherwise I may be sticking sorted coins right back where they come from. The banks I currently use to dump are Wells Fargo, US Bank, Chase, Mission Federal Credit Union, Bank of the West and my source bank is B of A. Does anyone know how any of the other Banks I listed process coin and Where they get their coin from? A lot of these banks are very tight lipped about it. They say its for security reasons which is understandable. I have been told that B of A has their own vault and just uses Brinks to transport but I am not sure how reliable the information is. Obviously I do a lot of volume and these banks DO NOT like to take coin. I was booted by Union Bank of California a few weeks ago for it. Oh Well. It gets hard to spread it out when you do the kind of volume that I do. Any info anyone has would be much appreciated.

Shawn

Shawn you asked a lot of questions so I will try to answer them all.

B of A may use Brinks in your location but that doesn't mean they use them in all their locations.

No, B of A does not have their own coin vault. They may or may not have a cash processing center though. (It all depends on the area you are in)

The bank tellers are tight lipped for security and also because they really don't know they answer either.

Basically it doesn't matter what bank you use because all the coin comes from the same spot. Depending on where you are located there will be a fed coin terminal someplace. If you are in a big city than its close by, but if you are in a small city than its further away. All the coin from the banks in the area eventually will end up getting processed through the terminal or will get deposited there. At the terminal they have skids of $50k of halves.

I would think that every 3 weeks or so you will be dipping into at least some of what you have already sorted.

Start with a 2 full skids of $50k in halves. You order 20k so almost half of one skid is gone. The end of the week you dump the 20k into several banks. Come monday again you get your 20k so that skid now goes down to 10k. All your dump banks don't like to hold onto halves so if and when they get full bags they deposit them and at least some of the halves from your first order will get back into that skid. Friday rolls around and you dump your 20k and than monday comes and you pick up 20k again. Yes, you will be getting some new halves but at the same time you will also getting some sorted halves again. This also doesn't include the halves that other people order and deposit as well.

So basically 20k is a good sized order every week but its not enough for you never to see the same halves again. If the coin depot has 300k in halves you will most likely only see coin from maybe 3 skids (150k)

Hope this helps.