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What happens to bulk coins returned to the Banks ?

I go thru a lot of rolls in my area. I don't mark very many of the coins that I search, but do run across a few every now and then. I hate to think I'm re-searching the same coins over and over.
I deposit them in the heavy plastic bag in $500 bulk. I've tried asking various Bank personnel if they stay within their banking branches, sent to a local company that rewraps and re-distributes locally, or if they are sent to the Federal Reserve and could be therefore re-distributed any where in the country. None of the tellers/mgr's really seem to know, in addition to asking 2 armored car personnel I've spotted at different banks.
A few yrs ago a local underground depository for various banks were robbed with a professional team carrying automatic rifles. That and other factors apparentely have caused the banking group here to be top secret with any of the basic information.
Does anyone here know ? I live in a large metro area.
Thanks for any insight you can give me.
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are then packaged in boxes and shipped to the banks. It's an interesting situation since it
almost looks as though it was set up to be sure every coin circulates. Everyone uses a first
in first out storage system so nothing gets to sit very long. Most new coin is mixed right in
with the circulating coins so solid date rolls can be very tough to acquire. Some rolls that ap-
pear to be solid date head/tail rolls are actually heavily mixed with circulated issues since the
bins aren't emptied before the new coin is added. They've been providing solid rolls of the
states issues quite a bit but be careful with any other clad roll, especially anything after the
1970's.
Depends on if we're talking about Halves or pennies. I'd say you have no chance with re-searching pennies. But I would be surprised if you actually did get new halves. I've seen the same half dollar on 3 different bank trips, after spending it in 3 different places....
<< <i>Depends on if we're talking about Halves or pennies. I'd say you have no chance with re-searching pennies. But I would be surprised if you actually did get new halves. I've seen the same half dollar on 3 different bank trips, after spending it in 3 different places.... >>
Good point. Half dollars rolls are much more likely to come back to you. Even individual
half dollars don't move around as much as other coins. The same is true for Ikes and to
a lesser degree with the small dollars.
Even a quarter can get caught up in a loop of circulation or be repeatedly tendered to the
same individual. It's normally not noticed. As a general rule we do use the exact same
coins as we have before much more than you might think. Usually these will come back to
you within a few weeks or a few years but even those used decades ago can find their
way back.
My EBay Store/Auctions
thru a scuffing, scratching and gouging machine.
This process assures, that the bank will not be bothered
by coin collectors actually asking the bank to provide a service.
Banks only exist to take your money and hold it without interest.
Providing a service in even the smallest degree, will reduce profits.
Camelot
They accept coin in anything but rolls. It is all fed into a counting machine.
Essentially this work is just being contracted out to companies like Brinks and Purolator.
<< <i> and the one I work at now we dump them in bags from the rollers that people bring into us and sell them to a man who wraps them and brings coin to us also. >>
Sounds like the prefect coin collectors job, I'm sure you need to be bonded, but I will, for a smaller fee than brinks, take your coins and roll them and return them as you need them. I get to look at all the edges for silver before it gets redistributed. This may be an idea.
Does anyone know what brinks charges extra for rolled coins?
And actually you would not need to be bonded, you could just buy the bags of coin from the bank at face, when you take them. Then they issue you a check when you return wrapped rolls. Hmmm.