Newbie Question

flyguyfl

I was in one of my credit unions today and lately have been asking if they had any dollar coins they wanted to get rid of.
They said no but I could order a box of 1,000. Would anyone have an idea of the type coins that would be in the lot? Seems like a no lose situation as they could always be deposited in some bank/credit union after examination. Or is this just a waste of time.?

Greenstang

They more than likely would be Presidential dollars.
You could always search for errors like the missing edge lettering or
look for high MS grades. You would have nothing to lose except time.

JBK

@flyguyfl said:
Seems like a no lose situation as they could always be deposited in some bank/credit union after examination.

You'll burn bridges pretty quickly doing this.

flyguyfl

@JBK said:

@flyguyfl said:
Seems like a no lose situation as they could always be deposited in some bank/credit union after examination.

You'll burn bridges pretty quickly doing this.

I can see where that would happen. They tend to be a nuisance to most financial institutions from what I understand. Maybe not a good idea even though I have a good relationship with one bank and one credit union. I am interested in the smaller coins.

sellitstore

Getting the coins from the credit union and depositing them at the bank might work better but I'd bribe the bank teller with a small gift, like a chocolate bar. Sometimes you need to lubricate the wheels of commerce a bit.

Namvet69

You probably should ask if they'll take them back as a large loose lot that they can return to their armored car service. Good luck. Peace Roy

JWP

I use to get boxes of coins from my CU and just hated having to roll them to turn back in. My CU didn't really want them either. Then I explained to them what i hated about this process of rolling the loose coin and that no one wanted them. They then told me that I could count the coins and put them in a heavy plastic bag which they gave me and they would have Loomis count the loose coins and they would debit or deposit the overage/shortage to my account. I've been using these plastic bags now for over 4 months and just love it. Try asking the CU/bank and maybe they can/will be thw same for you too.

flyguyfl

@JWP said:
I use to get boxes of coins from my CU and just hated having to roll them to turn back in. My CU didn't really want them either. Then I explained to them what i hated about this process of rolling the loose coin and that no one wanted them. They then told me that I could count the coins and put them in a heavy plastic bag which they gave me and they would have Loomis count the loose coins and they would debit or deposit the overage/shortage to my account. I've been using these plastic bags now for over 4 months and just love it. Try asking the CU/bank and maybe they can/will be thw same for you too.

Good idea. I deal with two banks and 3 credit unions and have jumbos in all. They treat me nice but I don't want to be a pest.

JWP

@flyguyfl I used 2 bags to turn $182 of nickel this morning. it is so much faster to return them this way to the CU/Banks. It also saves the cost of buying the wrappers if the CU/Bank won't give them to you.

JBK

Just to remind people, ordering coin or sending it out costs the bank/CU money.

Personally, I try to keep as low a profile as possible. I use a couple places that have counting machines in the lobby, and I try not to full the bags.