Coin Roll Hunters
eyesopen
Posts: 19 ✭
Where do you get your coins. I have banked at Wells Fargo for 35+ years. Multiple accounts each with adequate balances. I like to swap out $100 in quarters about once a month. Was told recently that they would not do that for me anymore because they consider coin collecting a business. Why would any bank have problems swapping rolled coins for rolled coins as long as you have accounts? I am perplexed. Are financial institutions getting so hard up that they can't accommodate customers any longer 
0
Comments
When I've searched, I would always pickup a box from one bank, and after searching, go to another to unload the coins at. Personally, would never return the coins I got to the same bank.
Collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
My two cents: I try and obtain rolls for a different reason but have run in to similar issue. I try to obtain only 2 simple penny rolls from local banks/c.u. and am asked often if I have an account. I usually do not.. I've been given tons of excuses. But with your example, you're an account holding client... and they say no to such a request... my long winded belief is that banks are not Pro roll searchers... I think they're lazy and at times a bit Gate Keeperish... in fact, all the way up until November, I visited a Wells that still had 'due to shortage' notes posted on their walls... not many people are fans of coins yet they don't want to be eager to separate from them.. and don't even get me started on retailers saying no to parting with their rolls-- though I understand they may truly not have enough in the safe to sell to guests.. anyway, adds to the challenge. Im only missing rolls from 3 branches here in my town.
Was there a change in management at your branch? My experience with many banks in swapping out coin rolls is that each branch can be different with their coin roll policy.
I suggest you try a different Wells Fargo branch in your area.
There are hidden costs in moving coins for them.
Storage, time spent, ordering, accounting for them, sometimes disparities in the amount in the actual roll, etc.
We can view those are non-existent or negligible, but from their pov, as a business, they obviously do not.
As already stated above, the best thing you could do would be to get at 1 bank/branch and return to a different one. Doing it at the same one, particularly if at the same time, gets you known, and likely as a time waster.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I get my rolls at a Wells-Fargo-no problem. I return them to a different bank or branch. Don't be a pita. Almost any bank will take them if you deposit them. If you cannot get them at a certain branch, you should make that branch your return bank. Simply deposit them and get them somewhere else.
Coin rolls hunters are essentially an expensive pain-in-the-neck for banks. With the increase in the number of coin roll hunters in the past few years some banks are now just saying "NO!". I'm not surprised.
I believe the Feds require a bank and all businesses to accept rolled coins for deposits and/or payment but they are not required to sell rolled coins to a customer.
Could be, but not all banks are federal reserve banks. I do not know banking rules for coins. Credit unions may be different also.
Banks treated my like crap when I was doing coin searches 50 years ago. Some things never change. And they wonder why folks have a negative view of the business...just saying.
WS
Thanks all for your comments. I usually swap out at my main branch. They are always willing and happy to do it for me. After going through them I swap at another branch or a Credit Union where I have accounts. Sometimes they want to charge me for depositing rolled coin and buying more. Banks get suspicious that you are running a business when it is done that way. I only go through $200 in coin once every couple months. Should not be such a big deal!
Agreed! Most banks in my area will allow up to 3 rolls bought or exchanged even without an account. My local CU insisted I deposit the rolls and withdraw the new rolls but there was never any fee.
Perhaps lower your transaction to 2 or 3 rolls a week vs. 10 or 20 rolls once/month.😎
It has been a while since I did any roll searching. But when I did, I got rolls of half dollars from one local bank. I would deposit them, when done, at my CU. I still have quite a few rolls I have not taken back, and that has been several years now. Cheers, RickO
Face it, coin collectors can be a PITA. Better to schmooze tellers etc with treats. Also I have a deal with several institutions that I'll take all $2 bills if they sell me the coins I want to search. I've given out candy, cookies, new products from my employer, hockey and baseball tickets.
One of my banks has a policy of charging 5% for rolled coin across the counter, somehow for me I have never been charged.
A positive attitude goes a long way..
Once in a while bring the tellers some cookies or donuts
Just ask them at your banks what you want to know.
The most important component tends to be having an account at the bank...and being genuinely nice.
Every single one of my banks has tellers and managers who really enjoy seeing my finds over time and learning about coins.
Got one of my tellers a redbook for Christmas last year. True.
Coins are Neato!
"If it's a penny for your thoughts and you put in your two cents worth, then someone...somewhere...is making a penny." - Steven Wright