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Is CRH discourteous to the bank?
moursund
Posts: 3,207 ✭✭✭✭✭
If a person buys $50 of pennies from a bank, searches them, and then brings back the 30-whatever lbs of pennies, isn't that a pain for the bank employees?
Is this considered "that's that the bank is there for", or do collectors ever have qualms about cycling through large numbers of bank coins?
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That’s certainly not what the bank’s there for.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.Back in the early 1960's, I would get bags of coins from the bank on Wednesday and take them back to the bank on Thursday in rolls. They used me to get them wrapped. I wrapped thousands of rolls. Dimes were a pain.
CRH is a major pain for the banks and it costs them money. They pay to order coins and they pay to ship bags out if they have a coin counting machine.
My rule is to have banks where you get coins and banks where you dump coins. Aside from maybe a few rolls handed across the counter, coins should be discreetly dumped into a coin counter. "Discreetly" means don't jam or fill up the machine.
I'm sure doing things that cost them money will encourage them to charge lower fees
My bank has a coin counting machine for loose change - charges 5% of the total counted. I always roll my coins before returning them just out of courtesy! (They supply free coin roll wrappers)
So much for “Do unto others...”.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Hmmmm, I think this is the 1st time I have seen a post selectively removed from a thread!
Perhaps flagged automatically for the cuss word?
Nothing is as expensive as free money.
Wouldn't it be removed from the posts quoting him if that was the case????
No not always.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I have two banks that don't charge if you have an account. I'd keep looking.
I have checking and saving accounts at my bank that I have been with for 35 years. Mortgage and auto loans that are nearly paid off. I often get rolls from them 10 to 20 at a time. I always roll the change after searching and return it to the same bank. I have never requested the bank order me special boxes of coins, which I feel then would be unfair to the bank, but take whatever they have in stock and do not see this to be causing anyone extra time and effort. I feel it to be a benefit that every bank member is allowed to do. If it was a problem, I feel it would be disallowed.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
So "returning searched coins" is "$%^&ing where you eat"? If the people doing the searching think of it like that, it's not hard to imagine that banks wouldn't be too happy paying for them to do it.
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That's cool... i had this vision of people taking big sacks of pennies into the bank.
Is rolling the change required, or just appreciated?
Be probably just tried to edit it and it disappeared. That's a forum bug. Happens to me all the time.
My bank has a coin counting machine that's free if you have an account. Also if i were roll searching I would roll them before returning them. I went in a couple of weeks ago and the teller was rolling quarters that were pulled from the counting machine.
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Just being courteous.
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During the W coin hunt (the only time I did crh) I would get rolls at a number of smaller banks and returned them to a large bank with a counting machine (no charge with an account). I tried to keep to reasonable amounts (1000 or less) and was always polite and grateful. I tried bringing in rolled coins, when I had received circulated rolls instead of new and they wouldn't take them, said to break them and run through the counter. None of the banks minded and until the shortage were glad to help me find more rolls. It was great until mid 2020.
It was removed and I got a warning for profanity. Not sure why when they could just filter the word themselves.
I'll repeat what I said but without the profanity.
Boo hoo, poor banks.
They literally charge you money to be broke. Screw 'em.
Roll hunted a million dollars in halves, and if I had the time, I'd do a million more.
PS: Pick up at one bank using one supplier, dump at a different bank using a different supplier. Don't poop where you eat.
The reason you don't poop where you eat is because it increases your odds of hitting. You are essentially drawing from a pool of halves any one armored supply company has. If you search and dump elsewhere, you are forcing the supplier to find new (fresh) supply, as well as ensuring you're not diluting any new silver dumped in. Especially when you are doing $10,000 a week like I was at my peak.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
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My problem with that is, while the bank policies and owners may result in fees and whatever, the employees who must deal with your piles of pennies are likely just guys getting by. Don't screw with people...
I always took care of the employees when I could. My main pick up bank got donuts from me on Thursday mornings when I'd pick up my orders first thing. My main dump bank (I had a biz acct there and would wheel my bags right into their vault, all they did was count the # of bags and reconcile/credit me after processing by their servicier) all got $50 gift cards for Christmas.
The tellers and whatnot are the ones who control if you'll find success CRH at scale or not. They're basically your coworkers. Better treat them well or you'll get cut off. That was my philosophy.
Now those paper pushers in offices and whatnot? Couldn't care less about em.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Those bank coin counting machines. How accurate are they? I seem to recall there was a class action lawsuit won involving the miss reading of the count in the machines a few years ago.
Somewhat accurate.
Cool thing about roll hunting is you should know almost exactly what you're putting in and any discrepancy can be reported.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
No idea how accurate they are I just dump my change from the jar in and then get my money from the teller.
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It’s a chore for the bank to order coins when I ask them to do so. I am friends with the bank employees and make it clear that I understand they are doing me a favor and am very grateful when they do it. I don’t return anything to the bank unless it is something that would be useful to them and not an added burden. For example, there is a coin shortage where I am, so they are always appreciative if I can bring them rolls of cents, nickels, quarters and dimes as their business customers need these. I would not bring them rolls of half dollars.
Banks poop money. CRH is one of the perks of being a patron. Modern crap.
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Ok, let me be the spokesperson for all CRHunters. Lol.
On the average per week. I visit approx. 15-20 banks. 6 to 8 different ones. Been doing this for some time now. 99% of all banks I visit. I have an awesome relationship with them. 99% of the time we leave each other happy and joking. And I'm talking some are supervisors and bosses. Occasionally, I'll treat my friends that treat me like a welcome customer. More than half of these banks I go to are not my personal branches. They oblige me even if I just have a credit card with them.
When they ask me if I have an account with them, I tell them the truth.
Now, concerning my dumping of the coins I reject. I use common sense. I don't continue to take back the coins at one or two places. I have several places to dump them. Most of these banks are very nice and helpful. Donuts and other treats only help the relationships too.
Thanks
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.I once made the mistake of taking coins back from where I got ‘em. Big mistake, as the manager warned me, “Don’t bring ‘em back.” I brought one coffee can of halves back and she went ballistic and cut me off at all branches. I found Walkers, Frankie’s and 90% JFK’s , about 6-10 a box. Best finds ever. So I learnt the hard way, have your dump backs separate.
It’s hard for me to feel sorry for banks that charge you hundreds in fees to access your money but send you a 1099 for 5 bucks cuz well “you earned it”.
Oh and the whole subprime scandal. Most here probably recall the S&L deal from the 80s as well. Poor banks.
I bank with Wells Fargo so crh and inconvenience them all you want.
When I was a YN I did CRH. I'm sure many of us did. It did help that this was the 60's, and you could find pieces of value that you didn't have to put under a microscope. Things like '14D's and '16D's.
As a kid, you don't realize that you're inconveniencing anyone, or creating work for a teller.
I certainly understand the concept, but there isn't anything in circulation today that would interest me.
I imagine that they send 1099’s because they’re supposed to, not because they want to aggravate you. And while there’s nothing wrong with remembering and still being upset about what occurred in the 80’s, I don’t think that’s a legitimate reason to invite inconveniencing present day banks and their employees.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
No one is forcing you to put your money in an account that charges fees. No one is forcing you to put your money in an interest-bearing account which causes you to earn money on which you owe taxes whether or not the bank follows the law that requires them to send you a 1099. Go find a credit union or bank that has a free no-interest account and all your woes will be solved.
When I used to CRH halves from the bank, I never brought them back... I just spent them. I still have a couple of rolls that have been sitting around for a few years. Cheers, RickO
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You probably did that with pennies too! 😉
@moursund .... No... Never CRH'd cents..... or dimes, or nickels... and only one roll of quarters that I acquired by chance, so I looked. Cheers, RickO
It's been awhile since I've done so, but my bank cracks open rolled coins and recounts them.
Most kids ask for a few rolls of pennies each time, not $1,000 in halfs.
Coin roll hunters are always in danger of wearing out their welcome at the banks.
Human behavior is an interesting thing. It's amazing how we all interact with the world differently.
(I'm trying to be kind).
Does anyone else find it ironic that some of the people who are looking to profit by searching rolls for silver are unhappy because banks charge fees?
How many roll hunted back in the day when the teller had you write your phone number on the rolls you turned back in?
If you have a significant number of accounts or balance then they will be fine with CRH.
If not then yes, it will be an annoyance to some of the employees. Some will be patient and courteous, some want to climb the ladder and will be annoyed.
As far as sympathy for the banks, I have none. They will do what they need to do for the executives and shareholders.
Fathom. The banks are one thing their employees are another. I’ve worked for bosses I didn’t like or agree with but how quickly we forget just a few years back when we were happy to have a job.
Just saying that your neighbor or whoever is only doing a job. What about the nice teller who accommodates you and gets in trouble for that. Never found being upset with the worker bees helpful 😉
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Or your name.
867-5309, because what better time could you have than roll hunting?
993-6656 here!
Or write '40% silver' on the Kennedy rolls when you turn them back in. Hilarity ensues for the next guy...
Unless they are putting them back out to customers, almost certainly they break them out of the rolls to run through the big coin counters. Either at the bank or at the coin terminal.
ANA 50 year/Life Member (now "Emeritus")
Pick up, Today
at three different banks. I left them all amused.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.