When going to a bank ...
atarian
Posts: 3,116 ✭
how do i order coins and how do i know what to order ( to give me the greatest chance of good older coins???) i havent seen too many good finds in coins , any ideas
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In memory of Tiggar 5/21/1994 - 5/28/2010
In memory of Tiggar 5/21/1994 - 5/28/2010 0
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I read stories all the time about people going to the bank and finding silver coins in rolls. Yes, it does happen. But you have to remember you are competing with people like me who "gift" the vault folks on a frequent basis to make sure they supply the coin collector guy with what he likes.
I would bet you nothing comes out of our vault that is of any value that does not go in to my pocket first. You are just going to have to get lucky and find a bank where there are no coin collectors.
Good luck in your quest.
Loan Shark
You can't order from the Fed, as they don't respond well to public requests.
Let's start with identifying what qualifies as a "good older coin:"
A. Shiny 1971, 1972, or 1973 Kennedy 50 cent piece?
B. Shiny bicentennial 50 cent piece?
C. Wheat pennies in any condition?
D. Nickels from 1950's and 1960's?
<< <i>Atarian,
I read stories all the time about people going to the bank and finding silver coins in rolls. Yes, it does happen. But you have to remember you are competing with people like me who "gift" the vault folks on a frequent basis to make sure they supply the coin collector guy with what he likes.
I would bet you nothing comes out of our vault that is of any value that does not go in to my pocket first. You are just going to have to get lucky and find a bank where there are no coin collectors.
Good luck in your quest.
Loan Shark >>
You've certainly hit the nail on the head. Gifts and the fact that the bank vault keeper's dad used to collect coins got me in good.
Loan Shark
It will be as heavy as a boat anchor, and you'll end up with $495 worth of junk coins that you'll have to dispose of somehow. Banks here don't take loose coins - don't know about NJ.
PS: They are handy if the Toll Booth accepts them.
Looking at the thread, no one has corrected your (wrong) assumption....
When people are referring to "the vault" that is for the bank employees....not you. So, you won't get to go into any vault and go through coinage.
What you should do, and some have alluded to this, is to go to the MERCHANT TELLER (that is usually the best for this) and request the coinage in large amounts ($500 for halves, $100 for nickels, etc). Also, make friends. My current bank, BofA, is in a small town. Friendly...helpful...but, one of the tellers collects halves
He doesn't collect bills though, so one of the tellers was "selling" me, at face value, some older notes. Kind of cool.
I did just move though, so I have to make some new friends of merchant tellers.
So, atarian.....forget getting into any 'vault'...the is for bank employees and the size of the bank will dictate whether they store much coin there or not (some won't, they will just order what they think they need...from the main branch) and also how ince and friendly they are.
Also, order what you can, and if you have to stretch your budget, remember...you can use these as cash...they are cash after all...., then do it and go through them in the first day.
G'luck
Ron
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
when i get tired of being at rite aid. i might just mosey on down to the PNC bank and go get a job as a money pusher. hehe. and push some old bills and coins my way as i do my job.
Best advice:
1. Don't bother with really small bank branches if you want halves.
2. Take a 2 year old with you, and claim he's a collector. If you've got a baby, they'll look in every droor!
3. Don't spend more on the search than the silver is worth. With gas at $2/gallon it's easy to do!
Halves - silver out the wazoo. I've found entire rolls of silver.
Nickels - '30s and '40s aplenty. Occassional war nickels as well, and some S mints.
Cents - longer to search, but many varieties (Type II's) and some Wheaties. S mints as well.
Don't bother trying to get into the vault or have them order from the Fed. Just take what they have. Tip - they love to get rid of halves. Just take them to several banks when you're done searching.
I regularly go to banks and get coins to search through. I used to just buy rolls, such as 5-10 rolls of quarters or dimes, in search of silver. After searching through 100's of rolls this way, I have yet to find a silver quarter or dime (ie: pre 1964). But I have had better success with half dollars. I have found many 40% or 90% Kennedy's, some Franklins, and even a few Walker Halves.
And I think the best way to do this is buy what they have in the bag that has been turned in for counting. Don't ask for rolls of halves. Instead, ask to buy all the half dollars that they have in the bag from people turning into coins. But you will have to buy the entire bag, as the bank does not want to take the time to hand count a certain number. These bags generally hold up to $500, or 1000 halves. So you will need to have $500 cash on you. The coin counting machine keeps a total of how many halves are in the bag already. So all they need to do is grab that bag for you. This way, it hasn't been search yet for older coins/silver, as rolls tend to be.
If you can't afford that much money, you can still ask to buy rolls. But you have a better chance at finding something in the bag, than the roll, in my experience. I have gone in and bought 5 or 10 rolls before. But usually the tellers don't like doing that, as they have to get them from the vault, and it is extra work for them. Also, do not turn in the halves at the same bank you bought them at.
As other has stated, make friends with a few tellers. Tell them you are a coin collector, and ask if they have any older or unusual coins. I am friends with 2 tellers, and they save older coins for me, knowing I am a collector.
You won't get rich, or even find a lot. But it is fun. I like it when you do find silver, as to me, it is still about the hunt.
The best thing is just to get a job at the bank. Teller positions are easy and you get to be pretty good freinds with the people in charge. At the bank I work for we have tons of 1700's and 1800's bills and coins in the bank. (including notes signed by my great grand father). We have $680 worth of silver quarters that have been saved since 1964 when they changed. Basicly, the president of the bank (my grandfather) likes to save all the stuff they have in the vault of a certain type of curency whenever they make a drastic change to the currency.
You will never find this sort of thing at a chain bank. You must go to a small town independent bank which are getting few and far between. FInd nice tellers and most of all, open an acount an put some money in this. If the tellers think your just there to get coins out of them then they'll tell you to get lost but if you become a customer they're a lot more freindly. Also giving them money generaly doesn't work (in my experiance) for instance, a guy came in the other day offering $20 for a $10 roll of kentucky quarters, the head teller told him he didn't have any. Not an hour later, another lady who was kind and sweet came in and just asked for a roll of kentucky quarters, we gave it to her at face value. Just be nice.
Dan
I heard a rumor that a teller can get in to substantial trouble for "selling" coins within a bank.
Are you from Kentucky?
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