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.
The bank I use is a smaller branch - they have aluminum trays that they put the rolls into then into their safe to be given to customers and probably to the main branch. I mark all my rolls and have gotten some I had already searched from the Main branch.
"When they can't find anything wrong with you, they create it!"
@clarkbar04 said:
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”.
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.
@Steven59 said:
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)
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.
Common sense would dictate that you verify the rolls BEFORE the depositor leaves the bank.
@BAJJERFAN said:
Common sense would dictate that you verify the rolls BEFORE the depositor leaves the bank.
Common sense huh? I give them my bank bag, they put in the desired rolls I asked for and hand it back to me. I'm not going to stand there like some jackass and start going through all the rolls at the counter. Give me a break.........
"When they can't find anything wrong with you, they create it!"
@golden said:
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.
It's been awhile since I've done so, but my bank cracks open rolled coins and recounts them.
My bank would accept the returned rolls with my checking acct. number on them. Maybe I should crack the rolls before I take them from the bank, considering the junk (washers,foreign coins, etc.) contained there in. And return the unwanted dreck.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
@MasonG said:
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?
I graduated in 2009, in the middle of a major recession wrought by the activities of banks, and couldn't find a full-time job for 3 years. Towards the end of that stretch, I was straight out of money after my part-time job shut down in late 2011. I landed a new job in February of 2012, and after I had paid my student loans current after behind behind for 4 months, I thought I had $25 in my bank account, so I went to the grocery store to buy some milk, eggs and bread. Turns out I actually had about $12 in my account. I dipped a few bucks negative. In the two weeks between paychecks my bank charged me over $200 in overdraft/shortage fees that I simply couldn't pay. Not being able to pay them caused my credit to tank. Took me 3 years to recover from that. All over owing them $2 and change.
That's only half the story that really led to me coming within about a month of killing myself thanks to what really boils down to the greed of corporate banks. Screw 'em. I pulled $40k out of those rolls and profited on the back of the banking system and it changed my life. It's the least those... .... .... could do for me after what they did to me over $2.
And that's my rant. I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest. And I'd reiterate, I took care of the tellers and managers that I interacted with.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
@DelawareDoons said:
I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest.
I don't feel one way or the other about banks, they're businesses much like lots of other ones out there. I was just commenting on how the same thing can appear differently to people depending on whose ox is being gored. I have overdrawn my account in the past, too. There were fees to be paid, which were in the agreement I signed when I opened the account. I owed them, I paid them. Lesson learned, never felt I needed revenge. But then, that's just me.
@BAJJERFAN said:
Common sense would dictate that you verify the rolls BEFORE the depositor leaves the bank.
Common sense huh? I give them my bank bag, they put in the desired rolls I asked for and hand it back to me. I'm not going to stand there like some jackass and start going through all the rolls at the counter. Give me a break.........
I was referring to the rolls that you would bring into the bank. If I was to take rolled coins in for deposit they would crack the rolls and count them on the spot which is the "common sense" way to do it.
@BAJJERFAN said:
Common sense would dictate that you verify the rolls BEFORE the depositor leaves the bank.
Common sense huh? I give them my bank bag, they put in the desired rolls I asked for and hand it back to me. I'm not going to stand there like some jackass and start going through all the rolls at the counter. Give me a break.........
I was referring to the rolls that you would bring into the bank. If I was to take rolled coins in for deposit they would crack the rolls and count them on the spot which is the "common sense" way to do it.
I suppose a longstanding history with the bank might affect these practices.
100th pint of blood donated 7/19/2022 . Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
@MasonG said:
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?
I graduated in 2009, in the middle of a major recession wrought by the activities of banks, and couldn't find a full-time job for 3 years. Towards the end of that stretch, I was straight out of money after my part-time job shut down in late 2011. I landed a new job in February of 2012, and after I had paid my student loans current after behind behind for 4 months, I thought I had $25 in my bank account, so I went to the grocery store to buy some milk, eggs and bread. Turns out I actually had about $12 in my account. I dipped a few bucks negative. In the two weeks between paychecks my bank charged me over $200 in overdraft/shortage fees that I simply couldn't pay. Not being able to pay them caused my credit to tank. Took me 3 years to recover from that. All over owing them $2 and change.
That's only half the story that really led to me coming within about a month of killing myself thanks to what really boils down to the greed of corporate banks. Screw 'em. I pulled $40k out of those rolls and profited on the back of the banking system and it changed my life. It's the least those... .... .... could do for me after what they did to me over $2.
And that's my rant. I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest. And I'd reiterate, I took care of the tellers and managers that I interacted with.
So you made a mistake and your upset that your bank did what they said they would do per the terms they provided to you when you opened your account. Interesting take you have on your responsibilities.
@BAJJERFAN said:
Common sense would dictate that you verify the rolls BEFORE the depositor leaves the bank.
Common sense huh? I give them my bank bag, they put in the desired rolls I asked for and hand it back to me. I'm not going to stand there like some jackass and start going through all the rolls at the counter. Give me a break.........
I was referring to the rolls that you would bring into the bank. If I was to take rolled coins in for deposit they would crack the rolls and count them on the spot which is the "common sense" way to do it.
I suppose a longstanding history with the bank might affect these practices.
Not all banks do things the same way it would seem.
@MasonG said:
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?
I graduated in 2009, in the middle of a major recession wrought by the activities of banks, and couldn't find a full-time job for 3 years. Towards the end of that stretch, I was straight out of money after my part-time job shut down in late 2011. I landed a new job in February of 2012, and after I had paid my student loans current after behind behind for 4 months, I thought I had $25 in my bank account, so I went to the grocery store to buy some milk, eggs and bread. Turns out I actually had about $12 in my account. I dipped a few bucks negative. In the two weeks between paychecks my bank charged me over $200 in overdraft/shortage fees that I simply couldn't pay. Not being able to pay them caused my credit to tank. Took me 3 years to recover from that. All over owing them $2 and change.
That's only half the story that really led to me coming within about a month of killing myself thanks to what really boils down to the greed of corporate banks. Screw 'em. I pulled $40k out of those rolls and profited on the back of the banking system and it changed my life. It's the least those... .... .... could do for me after what they did to me over $2.
And that's my rant. I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest. And I'd reiterate, I took care of the tellers and managers that I interacted with.
So you made a mistake and your upset that your bank did what they said they would do per the terms they provided to you when you opened your account. Interesting take you have on your responsibilities.
He should be mad at the grocery store. If they were making less money, the groceries would have been $3 cheaper and none of it ever happens. 😉
@MasonG said:
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?
I graduated in 2009, in the middle of a major recession wrought by the activities of banks, and couldn't find a full-time job for 3 years. Towards the end of that stretch, I was straight out of money after my part-time job shut down in late 2011. I landed a new job in February of 2012, and after I had paid my student loans current after behind behind for 4 months, I thought I had $25 in my bank account, so I went to the grocery store to buy some milk, eggs and bread. Turns out I actually had about $12 in my account. I dipped a few bucks negative. In the two weeks between paychecks my bank charged me over $200 in overdraft/shortage fees that I simply couldn't pay. Not being able to pay them caused my credit to tank. Took me 3 years to recover from that. All over owing them $2 and change.
That's only half the story that really led to me coming within about a month of killing myself thanks to what really boils down to the greed of corporate banks. Screw 'em. I pulled $40k out of those rolls and profited on the back of the banking system and it changed my life. It's the least those... .... .... could do for me after what they did to me over $2.
And that's my rant. I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest. And I'd reiterate, I took care of the tellers and managers that I interacted with.
So you made a mistake and your upset that your bank did what they said they would do per the terms they provided to you when you opened your account. Interesting take you have on your responsibilities.
He should be mad at the grocery store. If they were making less money, the groceries would have been $3 cheaper and none of it ever happens. 😉
@MasonG said:
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?
I graduated in 2009, in the middle of a major recession wrought by the activities of banks, and couldn't find a full-time job for 3 years. Towards the end of that stretch, I was straight out of money after my part-time job shut down in late 2011. I landed a new job in February of 2012, and after I had paid my student loans current after behind behind for 4 months, I thought I had $25 in my bank account, so I went to the grocery store to buy some milk, eggs and bread. Turns out I actually had about $12 in my account. I dipped a few bucks negative. In the two weeks between paychecks my bank charged me over $200 in overdraft/shortage fees that I simply couldn't pay. Not being able to pay them caused my credit to tank. Took me 3 years to recover from that. All over owing them $2 and change.
That's only half the story that really led to me coming within about a month of killing myself thanks to what really boils down to the greed of corporate banks. Screw 'em. I pulled $40k out of those rolls and profited on the back of the banking system and it changed my life. It's the least those... .... .... could do for me after what they did to me over $2.
And that's my rant. I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest. And I'd reiterate, I took care of the tellers and managers that I interacted with.
So you made a mistake and your upset that your bank did what they said they would do per the terms they provided to you when you opened your account. Interesting take you have on your responsibilities.
What's the alternative, not have a bank account at all? Give me a break. That crap was predatory, and there's a reason they've all more or less dropped those policies these days.
By the way, when I was roll hunting $10k in halves a week, I had business accounts, I paid fees. These banks didn't pay THAT much extra to deal with me, if they did they would have closed my accounts. I was still profitable for them. Finding consistent, long-term success with coin roll hunting is about understanding the banking system from a business standpoint, and operating within the margins that exist within that system. It took a bit of trial and error, but I figured out a way to coexist within that system. The only reason I had stopped was because silver prices fell to a point where it was no longer an equitable use of my time. So yes, I profited off the banks, but it wasn't defrauding them, it wasn't taking advantage of them, it was operating within the parameters that they set. It was never about revenge or anything like that, it was about business. There's no room for emotions in business.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
The three banks I frequent say they submit bags of loose coins to their transport service, who do the sorting, rolling and redistribution as part of their contract. Difficult people create problems where none exist. IMO. Peace Roy
For a long time I was also in the weekly 10K CRH club. I primarily used one bank to return coins and only used deposit bags that were supplied by the bank and completely filled with the same denomination. I deposited full bags so the coins would not just sit in the vault. They never counted them and it was minimal work for the tellers, I just deposited into my checking account. Sometimes the bank would even ask me to bring in more coins so they could top off bags in the vault that didn't have enough to be shipped out. Rarely did anyone care and it got to the point that some tellers would save things for me. There were a few tellers who would get angry though, mostly because they saw me as competition and were also searching for nice coins or just had that type of personality.
Let me see if I understand the question. The banks take all our money and pay no interest as the big shots get billions and billions in bonuses and the banking industry explodes in growth worldwide with entire countries supported by the capital on which they pay no interest. Meanwhile when the bankers get you on the hook they charge onerous interest rates that would land them in jail 50 years ago. Banks refuse to issue new coins from the FED like the small dollars. They close their lobbies creating a coin shortage and the question is "is it rude to get coins from the bank.
Nope, I guess I don't understand. Asking people to do their jobs now days is rather extreme though. Most of the real work is being done minimum wage "workers". If it costs an extra penny to pick an apple then you can raise the price two bits.
In the old days we all worked... ...and we liked it.
Question for those in the Coin Roll Hunting game??
If you re-roll your coins, do you write any type of mark or indicator on the Coin Roll to indicate that this roll has been gone through? This way if someone else in the CRH game gets your rolls, they'll know not to bother?
It would seem if there was a standard, a lot of trouble could be saved by some of you??
Maybe just write CRH on the roll as a code to others???
@cladking said:
Let me see if I understand the question. The banks take all our money and pay no interest as the big shots get billions and billions in bonuses and the banking industry explodes in growth worldwide with entire countries supported by the capital on which they pay no interest. Meanwhile when the bankers get you on the hook they charge onerous interest rates that would land them in jail 50 years ago. Banks refuse to issue new coins from the FED like the small dollars. They close their lobbies creating a coin shortage and the question is "is it rude to get coins from the bank.
Nope, I guess I don't understand. Asking people to do their jobs now days is rather extreme though. Most of the real work is being done minimum wage "workers". If it costs an extra penny to pick an apple then you can raise the price two bits.
In the old days we all worked... ...and we liked it.
@clarkbar04 said:
Amazing that banks have so many sympathizers.
Banks aren’t just entities. Human beings work for them and many of those human beings are probably good people. Do you know each employee well and what his/her personal life is like? How can you determine which ones deserve your disdain and/or to be inconvenienced (or worse) by you or others?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@clarkbar04 said:
Amazing that banks have so many sympathizers.
Banks aren’t just entities. Human beings work for them and many of those human beings are probably good people. Do you know each employee well and what his/her personal life is like? How can you determine which ones deserve your disdain and/or to be inconvenienced (or worse) by you or others?
Even the attitude towards banks as entities strikes me as overdone. If banks charged the customers for their cost of acquiring coinage, these people would have a fit. It's not free to the bank. Yet people seem to feel that the bank should willingly underwrite the cost of their hobby.
On top of that, I doubt any of the people complaining are refusing the services of the bank. When they want to charge dinner or take out a mortgage, they are happy to use the service of the bank. But if the bank charges then a late fee for missing a payment, then the bank is evil.
Banks are neither saints nor sinners. They are businesses that you are free to voluntarily use or reject.
This is another case of people wanting to unilaterally determine the terms of use. We hear it about the Mint, auction houses, eBay, PayPal (F&F anyone?). If you don't like the TOS, don't frequent those establishments.
It's now irrelevant. Banks are crying for your coins.
My credit union must have a surplus. Selling me four sealed quarter boxes a week, no questions asked. Picked up four today. All new shiny 2020 Samoa bat coins. Have other bankswhere I trade opened boxes for sealed boxes. They don't mind because I often sell them an open box when they are running low.
No Way Out: Stimulus and Money Printing Are the Only Path Left
@HoneyMarket said:
Question for those in the Coin Roll Hunting game??
If you re-roll your coins, do you write any type of mark or indicator on the Coin Roll to indicate that this roll has been gone through? This way if someone else in the CRH game gets your rolls, they'll know not to bother?
It would seem if there was a standard, a lot of trouble could be saved by some of you??
Maybe just write CRH on the roll as a code to others???
Should I put my question in another thread??
It seems this thread is more about bank fees, bad bank practices, and criminal banking fiasco's of years gone by (which BTW, is still great reading)!
Just a cost of doing business. If a bank chooses not to deal with that particular cost, customers won't be allowed to buy and/or cash in significant amounts of coin. Simple. Why all the vitriol (asking for a friend)?
@MasonG said:
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?
I only had time to read the first sentence of most of these posts and mainly cause I'm about to head out to a Trump rally
But I'll make time to throw in my 2 cents: I opened accounts at several different banks (100.00 ea.) just so I could go in a get coinage w/o issues. I have since closed a couple of those accounts because the 100.00 had either lost money or have gone completely negative. Some banks are in the business of feeing you to death which, are mainly the large banks. Whereas the local boy banks are typically good to their customers.
For the OP: Who cares what they think! Your business is not any of theirs.
This is another case of people wanting to unilaterally determine the terms of use.
Yeah! That's not for the people to do; it's for the corporations to unilaterally determine the terms of use!
(Do I need a /s tag??)
They offer the TOS and you accept it or don't. No one is forced to use their services other than certain governmental monopolies, but that will send us down the political rabbit hole.
@MasonG said:
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?
I graduated in 2009, in the middle of a major recession wrought by the activities of banks, and couldn't find a full-time job for 3 years. Towards the end of that stretch, I was straight out of money after my part-time job shut down in late 2011. I landed a new job in February of 2012, and after I had paid my student loans current after behind behind for 4 months, I thought I had $25 in my bank account, so I went to the grocery store to buy some milk, eggs and bread. Turns out I actually had about $12 in my account. I dipped a few bucks negative. In the two weeks between paychecks my bank charged me over $200 in overdraft/shortage fees that I simply couldn't pay. Not being able to pay them caused my credit to tank. Took me 3 years to recover from that. All over owing them $2 and change.
That's only half the story that really led to me coming within about a month of killing myself thanks to what really boils down to the greed of corporate banks. Screw 'em. I pulled $40k out of those rolls and profited on the back of the banking system and it changed my life. It's the least those... .... .... could do for me after what they did to me over $2.
And that's my rant. I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest. And I'd reiterate, I took care of the tellers and managers that I interacted with.
So you made a mistake and your upset that your bank did what they said they would do per the terms they provided to you when you opened your account. Interesting take you have on your responsibilities.
I think the more interesting take will be the look on your face when you try to sell all those NGC slabbed coins.
Just saying for a friend.
@MasonG said:
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?
I graduated in 2009, in the middle of a major recession wrought by the activities of banks, and couldn't find a full-time job for 3 years. Towards the end of that stretch, I was straight out of money after my part-time job shut down in late 2011. I landed a new job in February of 2012, and after I had paid my student loans current after behind behind for 4 months, I thought I had $25 in my bank account, so I went to the grocery store to buy some milk, eggs and bread. Turns out I actually had about $12 in my account. I dipped a few bucks negative. In the two weeks between paychecks my bank charged me over $200 in overdraft/shortage fees that I simply couldn't pay. Not being able to pay them caused my credit to tank. Took me 3 years to recover from that. All over owing them $2 and change.
That's only half the story that really led to me coming within about a month of killing myself thanks to what really boils down to the greed of corporate banks. Screw 'em. I pulled $40k out of those rolls and profited on the back of the banking system and it changed my life. It's the least those... .... .... could do for me after what they did to me over $2.
And that's my rant. I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest. And I'd reiterate, I took care of the tellers and managers that I interacted with.
So you made a mistake and your upset that your bank did what they said they would do per the terms they provided to you when you opened your account. Interesting take you have on your responsibilities.
I think the more interesting take will be the look on your face when you try to sell all those NGC slabbed coins.
Just saying for a friend.
Wrong thread.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
This is another case of people wanting to unilaterally determine the terms of use.
Yeah! That's not for the people to do; it's for the corporations to unilaterally determine the terms of use!
(Do I need a /s tag??)
They offer the TOS and you accept it or don't. No one is forced to use their services other than certain governmental monopolies, but that will send us down the political rabbit hole.
They used to pay 4% on accounts and charge 4 1/2% on loans. They used this difference to make money.
Charging over 7% would land them in jail.
Now they have 100 page contracts with small print that promise your first born, pay 0% on accounts and charge 23% for loans. In case of dispute it will be the computer that decides all ties. Nobody understands the programs that operate the world but I'm sure there's something in that TOS that says if your account evaporates there is no recourse.
They used to pay 4% on accounts and charge 4 1/2% on loans. They used this difference to make money.
If you were polite and didn't give them a hard time or disrupt their business they would usually have the time to supply whatever coin of the realm as the FED defined it to their customers. They would even be courteous to non-customers hoping to get new business and this included things like sometimes cashing a check or supplying coins.
This is another case of people wanting to unilaterally determine the terms of use.
Yeah! That's not for the people to do; it's for the corporations to unilaterally determine the terms of use!
(Do I need a /s tag??)
They offer the TOS and you accept it or don't. No one is forced to use their services other than certain governmental monopolies, but that will send us down the political rabbit hole.
They used to pay 4% on accounts and charge 4 1/2% on loans. They used this difference to make money.
Charging over 7% would land them in jail.
Now they have 100 page contracts with small print that promise your first born, pay 0% on accounts and charge 23% for loans. In case of dispute it will be the computer that decides all ties. Nobody understands the programs that operate the world but I'm sure there's something in that TOS that says if your account evaporates there is no recourse.
If you don't like it there are no alternatives.
Nothing like gross exaggeration to try to debate a point.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I have some simple concepts about this...having been a serious roll hunter since the 1970's...
Banks are run by adults...and they have the ability to tell me what's up if necessary.
At this point I've been a customer at Chase for many decades, at multiple other banks and credit unions for plenty of years as well.
Typically it's places like Wells Fargo and Credit Unions here in the Denver area who have the in house change counting machines if I bring loose change. So they are my dump banks...but they know it because I have conversations with them when I can. But most of my other branches are more than happy to accept rolled coins I want to bring in. The branches with change counters either have them out in the lobby for public use or they offer it as a service...if they didn't want their customers knowing they have a change counter available they wouldn't mention it as a free service lol.
One of my rules has always been to be honest with them and get to know the tellers and managers and I simply ask them what's ok...it certainly helps to actually do banking there too!
My one main point is that if exchanging change is a problem the bank(s) will let you know or tell you they need to charge for a certain volume. Surely big-town vs small-town banks matters for what they're willing to reasonably do. Banks aren't charging higher fees due to coin roll hunting lol. Most bank branches provide the coin vending services to businesses on a much larger scale than any incidental amount of coin roll hunters they may have coming in. Coins are still part of the economy and the bank's business models.
I have Chase banks in the area who sometimes limit me (although I'm not the super high volume box buying type, I usually get a handful or two of rolls at a time). Bust most of the large Chase branches are happy to give me as many rolls as I ask for and some of them know me and tell me when they got customer dumps before I even ask...
One last tip...be nice! I genuinely bring the branches a box of donuts once in a while...that never hurts
If there's anything I have in common with folks like @joeykoins and @Coinscratch it the fact that we are very very nice, and grateful and appreciative...and we're NOT addicted. We can stop any time we want!
During the last week or so...
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
This is another case of people wanting to unilaterally determine the terms of use.
Yeah! That's not for the people to do; it's for the corporations to unilaterally determine the terms of use!
(Do I need a /s tag??)
They offer the TOS and you accept it or don't. No one is forced to use their services other than certain governmental monopolies, but that will send us down the political rabbit hole.
They used to pay 4% on accounts and charge 4 1/2% on loans. They used this difference to make money.
Charging over 7% would land them in jail.
Now they have 100 page contracts with small print that promise your first born, pay 0% on accounts and charge 23% for loans. In case of dispute it will be the computer that decides all ties. Nobody understands the programs that operate the world but I'm sure there's something in that TOS that says if your account evaporates there is no recourse.
If you don't like it there are no alternatives.
Nothing like gross exaggeration to try to debate a point.
I love hyperbole to death.
It's way better than facts for making a case since everyone already has their minds made up.
.
Well... ...At least everyone is more likely to get the point.
The banks' job is to distribute coin. For the main part this simply isn't that much work and the costs are built right into the system. Large retailers use most of the coins and they have business accounts which I'm very confident includes a means for the bank to make money. CRH is obviously more work for banks but it's hardly onerous.
I know my local banker didn't just buy a new yacht or open up a branch in the Caymans and certainly the teller did not as well. I do have sympathy for the effort in keeping the bank running and the doors open. They generally do an excellent job and most of them are not greatly underworked.
@cladking said:
Now they have 100 page contracts with small print that promise your first born, pay 0% on accounts and charge 23% for loans. In case of dispute it will be the computer that decides all ties. Nobody understands the programs that operate the world but I'm sure there's something in that TOS that says if your account evaporates there is no recourse.
If you don't like it there are no alternatives.
Sure there is. Keep your money at home. If you want a loan, ask a friend or relative.
This is another case of people wanting to unilaterally determine the terms of use.
Yeah! That's not for the people to do; it's for the corporations to unilaterally determine the terms of use!
(Do I need a /s tag??)
They offer the TOS and you accept it or don't. No one is forced to use their services other than certain governmental monopolies, but that will send us down the political rabbit hole.
They used to pay 4% on accounts and charge 4 1/2% on loans. They used this difference to make money.
Charging over 7% would land them in jail.
Now they have 100 page contracts with small print that promise your first born, pay 0% on accounts and charge 23% for loans. In case of dispute it will be the computer that decides all ties. Nobody understands the programs that operate the world but I'm sure there's something in that TOS that says if your account evaporates there is no recourse.
If you don't like it there are no alternatives.
Nothing like gross exaggeration to try to debate a point.
I love hyperbole to death.
It's way better than facts for making a case since everyone already has their minds made up.
.
Well... ...At least everyone is more likely to get the point.
The banks' job is to distribute coin. For the main part this simply isn't that much work and the costs are built r
This is another case of people wanting to unilaterally determine the terms of use.
Yeah! That's not for the people to do; it's for the corporations to unilaterally determine the terms of use!
(Do I need a /s tag??)
They offer the TOS and you accept it or don't. No one is forced to use their services other than certain governmental monopolies, but that will send us down the political rabbit hole.
They used to pay 4% on accounts and charge 4 1/2% on loans. They used this difference to make money.
Charging over 7% would land them in jail.
Now they have 100 page contracts with small print that promise your first born, pay 0% on accounts and charge 23% for loans. In case of dispute it will be the computer that decides all ties. Nobody understands the programs that operate the world but I'm sure there's something in that TOS that says if your account evaporates there is no recourse.
If you don't like it there are no alternatives.
Nothing like gross exaggeration to try to debate a point.
I love hyperbole to death.
It's way better than facts for making a case since everyone already has their minds made up.
.
Well... ...At least everyone is more likely to get the point.
The banks' job is to distribute coin. For the main part this simply isn't that much work and the costs are built right into the system. Large retailers use most of the coins and they have business accounts which I'm very confident includes a means for the bank to make money. CRH is obviously more work for banks but it's hardly onerous.
I know my local banker didn't just buy a new yacht or open up a branch in the Caymans and certainly the teller did not as well. I do have sympathy for the effort in keeping the bank running and the doors open. They generally do an excellent job and most of them are not greatly underworked.
While people might be more likely to get a point that’s made through hyperbole, I think it’s likely that they’ll also be more likely to dismiss it, due to lack of credibility.
Regarding the bank’s job being to “distribute coin” - distributing it to those who return it when it’s not worth more than face value, isn’t really distributing (most of) it.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Comments
The bank I use is a smaller branch - they have aluminum trays that they put the rolls into then into their safe to be given to customers and probably to the main branch. I mark all my rolls and have gotten some I had already searched from the Main branch.
"When they can't find anything wrong with you, they create it!"
But then what would I complain about?
Oh, yeah, eBay and CAC. I've always got those.
Common sense would dictate that you verify the rolls BEFORE the depositor leaves the bank.
Common sense huh? I give them my bank bag, they put in the desired rolls I asked for and hand it back to me. I'm not going to stand there like some jackass and start going through all the rolls at the counter. Give me a break.........
"When they can't find anything wrong with you, they create it!"
My bank would accept the returned rolls with my checking acct. number on them. Maybe I should crack the rolls before I take them from the bank, considering the junk (washers,foreign coins, etc.) contained there in. And return the unwanted dreck.
I graduated in 2009, in the middle of a major recession wrought by the activities of banks, and couldn't find a full-time job for 3 years. Towards the end of that stretch, I was straight out of money after my part-time job shut down in late 2011. I landed a new job in February of 2012, and after I had paid my student loans current after behind behind for 4 months, I thought I had $25 in my bank account, so I went to the grocery store to buy some milk, eggs and bread. Turns out I actually had about $12 in my account. I dipped a few bucks negative. In the two weeks between paychecks my bank charged me over $200 in overdraft/shortage fees that I simply couldn't pay. Not being able to pay them caused my credit to tank. Took me 3 years to recover from that. All over owing them $2 and change.
That's only half the story that really led to me coming within about a month of killing myself thanks to what really boils down to the greed of corporate banks. Screw 'em. I pulled $40k out of those rolls and profited on the back of the banking system and it changed my life. It's the least those... .... .... could do for me after what they did to me over $2.
And that's my rant. I can't understand why anybody feels bad for banks that rake in billions of dollars in fees and interest. And I'd reiterate, I took care of the tellers and managers that I interacted with.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
The other half, is why should I pay for your hobby?
ANA 50 year/Life Member (now "Emeritus")
I don't feel one way or the other about banks, they're businesses much like lots of other ones out there. I was just commenting on how the same thing can appear differently to people depending on whose ox is being gored. I have overdrawn my account in the past, too. There were fees to be paid, which were in the agreement I signed when I opened the account. I owed them, I paid them. Lesson learned, never felt I needed revenge. But then, that's just me.
I was referring to the rolls that you would bring into the bank. If I was to take rolled coins in for deposit they would crack the rolls and count them on the spot which is the "common sense" way to do it.
I suppose a longstanding history with the bank might affect these practices.
So you made a mistake and your upset that your bank did what they said they would do per the terms they provided to you when you opened your account. Interesting take you have on your responsibilities.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Not all banks do things the same way it would seem.
He should be mad at the grocery store. If they were making less money, the groceries would have been $3 cheaper and none of it ever happens. 😉
That is certainly very true!
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Hopefully they give you somethin' you can hold on to . . . . .
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins, justindan, doubleeagle07
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me. . . . . . .
What's the alternative, not have a bank account at all? Give me a break. That crap was predatory, and there's a reason they've all more or less dropped those policies these days.
By the way, when I was roll hunting $10k in halves a week, I had business accounts, I paid fees. These banks didn't pay THAT much extra to deal with me, if they did they would have closed my accounts. I was still profitable for them. Finding consistent, long-term success with coin roll hunting is about understanding the banking system from a business standpoint, and operating within the margins that exist within that system. It took a bit of trial and error, but I figured out a way to coexist within that system. The only reason I had stopped was because silver prices fell to a point where it was no longer an equitable use of my time. So yes, I profited off the banks, but it wasn't defrauding them, it wasn't taking advantage of them, it was operating within the parameters that they set. It was never about revenge or anything like that, it was about business. There's no room for emotions in business.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Amazing that banks have so many sympathizers.
The three banks I frequent say they submit bags of loose coins to their transport service, who do the sorting, rolling and redistribution as part of their contract. Difficult people create problems where none exist. IMO. Peace Roy
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Really? How many people do you think keep their money in a mattress and paid cash for their house?
You don’t take the coins back to the same bank!
For a long time I was also in the weekly 10K CRH club. I primarily used one bank to return coins and only used deposit bags that were supplied by the bank and completely filled with the same denomination. I deposited full bags so the coins would not just sit in the vault. They never counted them and it was minimal work for the tellers, I just deposited into my checking account. Sometimes the bank would even ask me to bring in more coins so they could top off bags in the vault that didn't have enough to be shipped out. Rarely did anyone care and it got to the point that some tellers would save things for me. There were a few tellers who would get angry though, mostly because they saw me as competition and were also searching for nice coins or just had that type of personality.
Jim
Let me see if I understand the question. The banks take all our money and pay no interest as the big shots get billions and billions in bonuses and the banking industry explodes in growth worldwide with entire countries supported by the capital on which they pay no interest. Meanwhile when the bankers get you on the hook they charge onerous interest rates that would land them in jail 50 years ago. Banks refuse to issue new coins from the FED like the small dollars. They close their lobbies creating a coin shortage and the question is "is it rude to get coins from the bank.
Nope, I guess I don't understand. Asking people to do their jobs now days is rather extreme though. Most of the real work is being done minimum wage "workers". If it costs an extra penny to pick an apple then you can raise the price two bits.
In the old days we all worked... ...and we liked it.
It is rude (and foolish) to make CRH a chore for the bank. At least try not to be disruptive to their procedures and time.
And don't put ten rolls of quarters in the drive up.
nevermind
Question for those in the Coin Roll Hunting game??
If you re-roll your coins, do you write any type of mark or indicator on the Coin Roll to indicate that this roll has been gone through? This way if someone else in the CRH game gets your rolls, they'll know not to bother?
It would seem if there was a standard, a lot of trouble could be saved by some of you??
Maybe just write CRH on the roll as a code to others???
BST references available on request
I have no sympathy for the banks, more people should do CRH out of spite!
Ridiculous.
Then don't use the banks. It's a choice. Put your money in a mattress and don't use credit cards or take out loans.
Banks aren’t just entities. Human beings work for them and many of those human beings are probably good people. Do you know each employee well and what his/her personal life is like? How can you determine which ones deserve your disdain and/or to be inconvenienced (or worse) by you or others?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Even the attitude towards banks as entities strikes me as overdone. If banks charged the customers for their cost of acquiring coinage, these people would have a fit. It's not free to the bank. Yet people seem to feel that the bank should willingly underwrite the cost of their hobby.
On top of that, I doubt any of the people complaining are refusing the services of the bank. When they want to charge dinner or take out a mortgage, they are happy to use the service of the bank. But if the bank charges then a late fee for missing a payment, then the bank is evil.
Banks are neither saints nor sinners. They are businesses that you are free to voluntarily use or reject.
This is another case of people wanting to unilaterally determine the terms of use. We hear it about the Mint, auction houses, eBay, PayPal (F&F anyone?). If you don't like the TOS, don't frequent those establishments.
It's now irrelevant. Banks are crying for your coins.
My credit union must have a surplus. Selling me four sealed quarter boxes a week, no questions asked. Picked up four today. All new shiny 2020 Samoa bat coins. Have other bankswhere I trade opened boxes for sealed boxes. They don't mind because I often sell them an open box when they are running low.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Should I put my question in another thread??
It seems this thread is more about bank fees, bad bank practices, and criminal banking fiasco's of years gone by (which BTW, is still great reading)!
BST references available on request
Just a cost of doing business. If a bank chooses not to deal with that particular cost, customers won't be allowed to buy and/or cash in significant amounts of coin. Simple. Why all the vitriol (asking for a friend)?
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins, justindan, doubleeagle07
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me. . . . . . .
Classic truth.
I only had time to read the first sentence of most of these posts and mainly cause I'm about to head out to a Trump rally
But I'll make time to throw in my 2 cents: I opened accounts at several different banks (100.00 ea.) just so I could go in a get coinage w/o issues. I have since closed a couple of those accounts because the 100.00 had either lost money or have gone completely negative. Some banks are in the business of feeing you to death which, are mainly the large banks. Whereas the local boy banks are typically good to their customers.
For the OP: Who cares what they think! Your business is not any of theirs.
Yeah! That's not for the people to do; it's for the corporations to unilaterally determine the terms of use!
(Do I need a /s tag??)
Ed. S.
(EJS)
They offer the TOS and you accept it or don't. No one is forced to use their services other than certain governmental monopolies, but that will send us down the political rabbit hole.
I think the more interesting take will be the look on your face when you try to sell all those NGC slabbed coins.
Just saying for a friend.
Wrong thread.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Mr. Drysdale from the Commerce Bank tried to get Jed to invest in rare coins. He used an 1894-S Dime as an example.
.
@MFeld I need to work on my passivity it never was my strong suit.
They used to pay 4% on accounts and charge 4 1/2% on loans. They used this difference to make money.
Charging over 7% would land them in jail.
Now they have 100 page contracts with small print that promise your first born, pay 0% on accounts and charge 23% for loans. In case of dispute it will be the computer that decides all ties. Nobody understands the programs that operate the world but I'm sure there's something in that TOS that says if your account evaporates there is no recourse.
If you don't like it there are no alternatives.
If you were polite and didn't give them a hard time or disrupt their business they would usually have the time to supply whatever coin of the realm as the FED defined it to their customers. They would even be courteous to non-customers hoping to get new business and this included things like sometimes cashing a check or supplying coins.
...And we liked it.
Nothing like gross exaggeration to try to debate a point.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I have some simple concepts about this...having been a serious roll hunter since the 1970's...
Banks are run by adults...and they have the ability to tell me what's up if necessary.
At this point I've been a customer at Chase for many decades, at multiple other banks and credit unions for plenty of years as well.
Typically it's places like Wells Fargo and Credit Unions here in the Denver area who have the in house change counting machines if I bring loose change. So they are my dump banks...but they know it because I have conversations with them when I can. But most of my other branches are more than happy to accept rolled coins I want to bring in. The branches with change counters either have them out in the lobby for public use or they offer it as a service...if they didn't want their customers knowing they have a change counter available they wouldn't mention it as a free service lol.
One of my rules has always been to be honest with them and get to know the tellers and managers and I simply ask them what's ok...it certainly helps to actually do banking there too!
My one main point is that if exchanging change is a problem the bank(s) will let you know or tell you they need to charge for a certain volume. Surely big-town vs small-town banks matters for what they're willing to reasonably do. Banks aren't charging higher fees due to coin roll hunting lol. Most bank branches provide the coin vending services to businesses on a much larger scale than any incidental amount of coin roll hunters they may have coming in. Coins are still part of the economy and the bank's business models.
I have Chase banks in the area who sometimes limit me (although I'm not the super high volume box buying type, I usually get a handful or two of rolls at a time). Bust most of the large Chase branches are happy to give me as many rolls as I ask for and some of them know me and tell me when they got customer dumps before I even ask...
One last tip...be nice! I genuinely bring the branches a box of donuts once in a while...that never hurts
If there's anything I have in common with folks like @joeykoins and @Coinscratch it the fact that we are very very nice, and grateful and appreciative...and we're NOT addicted. We can stop any time we want!
During the last week or so...
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
I love hyperbole to death.
It's way better than facts for making a case since everyone already has their minds made up.
.
Well... ...At least everyone is more likely to get the point.
The banks' job is to distribute coin. For the main part this simply isn't that much work and the costs are built right into the system. Large retailers use most of the coins and they have business accounts which I'm very confident includes a means for the bank to make money. CRH is obviously more work for banks but it's hardly onerous.
I know my local banker didn't just buy a new yacht or open up a branch in the Caymans and certainly the teller did not as well. I do have sympathy for the effort in keeping the bank running and the doors open. They generally do an excellent job and most of them are not greatly underworked.
@Kurisu said:_ and we're NOT addicted. We can stop any time we want! _
That's right! I quit Yesterday and will start again later today after a round of golf with my banker
Sure there is. Keep your money at home. If you want a loan, ask a friend or relative.
While people might be more likely to get a point that’s made through hyperbole, I think it’s likely that they’ll also be more likely to dismiss it, due to lack of credibility.
Regarding the bank’s job being to “distribute coin” - distributing it to those who return it when it’s not worth more than face value, isn’t really distributing (most of) it.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.