Making money off the banks coin counter errors

[camtender]

I have a local dump bank that I drop my pennies off at. Their coin return machine must not have been serviced for a longtime because every time I return zincs, I am shown the coin count receipt and there is always a handful of dime and nickles (and even dollars - half dollars) that are listed as my coin count. I have been known to pick up $20 to $30 just on their errors for my larger dumps (around $200 to $300).

I debate if I should continue to do this......................

[68Camaro]

I've seen the same thing but in lessor numbers (of course I've dumped smaller amounts). I don't know what the internals of the machines look like, but prior to your post I had attributed it to residual coins from prior counts that had gotten stuck in corners and were swept into the count by my larger dump. I also often see a lot of interesting coins in the reject bin- found a couple of silver dimes along with some british pennies and a 5 cent euro on my last trip. A lot of people apparently don't look in the reject bin before they leave.

[Finder]

Last time I did my zinc dump one penny wouldnt go through in 5 tries, it was in very bad shape.
I left it in the bin.

I keep hoping to get a silver reject or something i missed in the reject bin but nothing so far.
It never gives me any wrong credits, just takes my 9.8%.
there is a bank close by that has free dumping, but they also give me boxes happily so I do not want to dump zincs on them.

[AlexTG]

This has also happened to me, only once though and it sounded like the machine was going to explode. I got a $76 return from a $35 or so dump.

I also got very lucky once, I didn't know that IHs went into the reject pile. So I never looked in the zincs. I dumped my pennies and the only thing that got spit out was a VG 1864 IH. If luck is real I think I have a good bit.

[fasteddy]

I debate if I should continue to do this......................

what's there to debate...add up all the extra $ and take it back before Obama figures a way to tax it.

takes my 9.8%.
there is a bank close by that has free dumping

use the free dump and get a new supply bank...9.8% is almost 1/1oth of your capital going away...My long time dump CU is gone (started charging 8%) and now I have a new CU that lets me dump for free and only have a savings account and a atm card there...98 $ going away for every grand of cash

[Finder]

I tempted, maybe I will eventually..but I really like these tellers. They always have a box for me and are fast getting it into my hand.
Its such a hassle at all the other banks. Like pulling teeth.

[frugalcanuck]

9.8% is alot of money

[ScottyTX]

I would have to assume that this could not go on for long if the machine was not balancing out. Banks know where their money is, its their business. I imagine if there is an actual problem with the machine it will be dealt with shortly. If the machine has been like this for quite a while I would make an educated guess that you picking up a bit of someone ele's residual coins left/stuck in the machine. If that's the case, I see no problem with it all, someone going to get credited a bit eh? I mean that techincally means your giving the next guy free pennies

[bman]

I agree with the residual coin theory, thats why if I have a mix of coins to dump I always make sure the last $5 to $10 worth is all pennies....just in case.
I don't want to be shorted a handfull of half dollars.

[AlexTG]

Like pouring drain-o down the drain, pennies are sure to clear up any problems you are having with a counting machine!

[misteroman]

I agree with the residual coin theory, thats why if I have a mix of coins to dump I always make sure the last $5 to $10 worth is all pennies....just in case.
I don't want to be shorted a handfull of half dollars.

very smart move there. and at paying 10% to get rid of zincs

[slickeast]

when I dump zincs, the ticket ALWAYS has other coins listed. Not many, maybe $2 worth. Another thing to do is when you are done and the machine stops and it asks if you have more coins, push yes and let it cycle one more time. occasionally it will count a coin or two that was still in the machine.

[Economist]

Finder, you need to finder some new pickup banks and start dumping on those nice tellers for free! Dumping is a much bigger problem for tellers, especially as you scale up, than is pick up. Please tell me you have several banks in your town? Especially if there's a large nationally-branched bank (e.g. Chase, Wells Fargo, BoA, etc.) you can arrange large pickups at one bank, or several small pickups at many banks. Please, for the love of copper penny arbitrage profits, stop paying these outrageous dump fees!

[Bostonbean02]

wow i need to start banking where u do !!