The truth always will hurt...

joeykoins

Watching YouTube tonight checking some guys opening boxes. While I do the same. Roll searching. Here's my sad thought. I seriously hope I'm wrong here! I see in the near future, all these boxes of coins us collectors love to search and go through. Will soon come to an end. Yep, to this day, it's hard to believe our banks just continue to hand out rolls and boxes of coins for no fee. The bank has to be paying Brinks, Loomis or any other armored truck company. and they just hand it over to us? Like I said, I hope my assumption will turn out to be not the case. Can't imagine the number of us cherry pickers taking these boxes home to search them. There are a vast amount on the Tube. Here's the result If I end up correct. Us crazy hunters, will gladly pay that fee (whatever that may be?) to continue that "Thrill of the Hunt". We shall see.

ShaunBC5

For now, it’s part of the service of being a local bank. In the future it might go away for many, but I would imagine that most banks are not feeling an impact from CRHs. If nothing else, it drives a little traffic. One loan or moderate sized account and it’s worth it.

air4mdc

There are banks in my area that won’t give you boxes and sure as heck won’t accept the dump. And there are some nasty bank managers as well.

keets

for everyone heading to a bank for reasons described in the OP there are hundreds of thousands of customers doing the same thing for legitimate reasons of carrying out commerce. collectors think too much of themselves and view the World through their eyes, in this case thinking their are multitudes of people getting boxes like this. it is in actuality a very, very small number of people.

thinking that going to the bank to purchase a box of coins to search through puts a strain on a multi-billion dollar industry is simply distorted, self-centered thinking.

Zoins

@keets said:
for everyone heading to a bank for reasons described in the OP there are hundreds of thousands of customers doing the same thing for legitimate reasons of carrying out commerce. collectors think too much of themselves and view the World through their eyes, in this case thinking their are multitudes of people getting boxes like this. it is in actuality a very, very small number of people.

thinking that going to the bank to purchase a box of coins to search through puts a strain on a multi-billion dollar industry is simply distorted, self-centered thinking.

Brick and mortar stores need change to conduct their business today though that is becoming less so over time.

olympicsos

If Congress abolished and demonetized the cent, half dollar and dollar coins, that would surely kill CRH.

ricko

I agree Al.... Coin roll hunters are a miniscule portion of a bank's business. And taken as a portion of the population, well... that is a lot of decimal places.... .00000000000 or something like that... Cheers, RickO

Jimnight

I don't see that happening anytime soon.

jmlanzaf

@Jimnight said:
I don't see that happening anytime soon.

It already has happened. Some banks absolutely will not do it.

Downtown1974

My bank will not do it unless you have a business account.

jmlanzaf

@keets said:
for everyone heading to a bank for reasons described in the OP there are hundreds of thousands of customers doing the same thing for legitimate reasons of carrying out commerce. collectors think too much of themselves and view the World through their eyes, in this case thinking their are multitudes of people getting boxes like this. it is in actuality a very, very small number of people.

thinking that going to the bank to purchase a box of coins to search through puts a strain on a multi-billion dollar industry is simply distorted, self-centered thinking.

There are a lot of banks that won't do this now because of the cost. And some charge commercial customers for the privilege, for example:

https://www.tcfbank.com/-/media/project/dotcom/tcfbank/files/global/tcf-bank-schedule-of-fees-ns1641.pdf

https://www.bmoharris.com/pdf/sb/Business Prime Money Market Plus.pdf

I wouldn't assume your local businesses are getting their change for free.

OldEastside

Doesn't bother me because I don't roll search anymore now that I have devoted my entire CP'ing to Parking Lot Finds exclusively

Steve

joeykoins

@jmlanzaf said:

https://www.tcfbank.com/-/media/project/dotcom/tcfbank/files/global/tcf-bank-schedule-of-fees-ns1641.pdf

https://www.bmoharris.com/pdf/sb/Business Prime Money Market Plus.pdf

Wow, so it is going to happen, huh? TCF, that's the bank I deal with.
Oh, I see the effective date, August 2020. So it has already started. Although, as of now, my bank doesn't charge me. Being a customer. For now.

291fifth

Who needs bank rolls when you can get rich on Coinstar machine reject slots!

There's another corroded Lincoln Memorial Cent now!!!!!!!!!!

vplite99

I admire the patience and persistence of bank roll searches. Keep finding that silver!

Over a dozen years ago I swore it off after yet another PITA $500 worth of halves. The search was tedious, and their disposal a pain.

I realize the "thrill of the hunt" is the motivation for most, not profit, not unlike medal detecting.

joeykoins

@vplite99 said:
I admire the patience and persistence of bank roll searches...
I realize the "thrill of the hunt" is the motivation for most, not profit, not unlike medal detecting.

Yes, it is all about the "thrill of the hunt ". For instance, when searching through rolls of Lincoln's, my heart skips whenever I come across the 1992 p or d! Just thinking at that precise moment that after I turn the coin over to its reverse, that I can actually find this gem. Esp. when the obverse is blazing RED. Lol. Many people don't have the thrill and under play the true meaning of "roll searching ".

koynekwest

Joey-

Get some rolls of nickels and find one of these for me. This probably exists for dates other than the 2018, too.

JBK

CRHers have always had to be stealth. You need to fly beneath the radar - be discrete and don't cause issues. Don't dump coins at the bank that gave them to you. Don't be the guy who keeps filling up the bags in the coin counting machine, Slip in and out of the bank making as few waves as possible.

JBK

Some years ago the mint sold dollar coins at face value (free shipping) to help get them into circulation. It was great for roll searchers (errors) but it was also a great way to get lots of frequent flier and other bonus points on your credit card. Some idiots ordered the coins by the thousands and then took not only the unopened rolls but the unopened boxes straight to their bank to cash them in. They saw nothing wrong with it and assumed their bank was obligated to take their boxes of dollar coins in support of their scam.

The program was eliminated within several months of the stories hitting the news.

golden

Back in the early 1960's I would get a bag of coins to search every Wednesday. The reason the bank would do that was I had to roll them it order to take them back to the bank. Wrapping Half Dollars and Quarters was a breeze but Dimes were a real pain!

bidask

I stopped roll searching in 1965

joeykoins

@golden said:
Back in the early 1960's I would get a bag of coins to search every Wednesday. The reason the bank would do that was I had to roll them it order to take them back to the bank. Wrapping Half Dollars and Quarters was a breeze but Dimes were a real pain!

Wow, let me get this straight. So you were in fact sending "SILVER" back to the bank?

JBK

I recall the days when the premium on silver was low enough that it was a real dilemma whether or not to sink your money into it, There have been times since 1965 when yes, it was worth above face, but there was not a really hot market for it. It was almost like hoarding copper cents today.

joeykoins

@JBK said:

It was almost like hoarding copper cents today.

Lol. Wow. Maybe, copper will shoot up to silver price of today? Lol.

thisistheshow

If anything, it would be a Covid excuse or cashless society that snuffs this practice out.

golden

Yes! In the Spring of 1964 ,when the Kennedy Half Dollars came out, I was getting bags of Half Dollars from the bank to look through. My bank was limiting you to 2 of the new Kennedy Half Dollars per person. Another bank in town was limiting you to 5 coins and another bank was limiting you to 10. On one Wednesday I opened a bag and it was $700 in new 1963-D Franklins and $300 of new 1964-D Kennedys. At first I was irritated because I was needing to look through Walking Liberty Half Dollars. I had already completed my set of Franklins. I soon found out that I could sell the Kennedys for $12 per roll. I sold the Kennedys and rolled the Franklins and took them back to the bank. The next Wednesday I ordered another bag. It was the same thing. I again sold the Kennedys. The next week I ordered another bag. This time it was all 1964-D Kennedys! I sold them all. The next week I ordered another bag and it was the same thing. The next week I ordered two bags. They were all Kennedys. I was carrying bags of Kennedys out of the bank while they were still only letting you get 2 per person. I was laughing all of the way out of the bank! After a few weeks the market for the Kennedys disappeared . Those were the days!

@joeykoins said:

@golden said:
Back in the early 1960's I would get a bag of coins to search every Wednesday. The reason the bank would do that was I had to roll them it order to take them back to the bank. Wrapping Half Dollars and Quarters was a breeze but Dimes were a real pain!

Wow, let me get this straight. So you were in fact sending "SILVER" back to the bank?

joeykoins

@golden said:
Yes! In the Spring of 1964 ,when the Kennedy Half Dollars came out, I was getting bags of Half Dollars from the bank to look through. My bank was limiting you to 2 of the new Kennedy Half Dollars per person. Another bank in town was limiting you to 5 coins and another bank was limiting you to 10. On one Wednesday I opened a bag and it was $700 in new 1963-D Franklins and $300 of new 1964-D Kennedys. At first I was irritated because I was needing to look through Walking Liberty Half Dollars. I had already completed my set of Franklins. I soon found out that I could sell the Kennedys for $12 per roll. I sold the Kennedys

DUDE!!! Man, I loved that story. Almost made me feel I was actually with you! Lol.
Here's the part I liked...
"I soon found out that I could sell the Kennedys for $12 A ROLL!" LOL
Those pesky Walkers, huh? 😂