Roll Hunters: what do you do with the leftovers?

mixman · July 25, 2011 12:17AM

So I have recently started hunting through penny and half dollar rolls from my local bank and I'd like to start ordering boxes. However I'm a bit in the dark with the best way to return all the zincoln and clad half's. I've seen some threads here where people mentioned using Coinstar and taking the 9.8% hit but I would like to try and avoid that. Ideally the banks would just take them back but I've also heard people here say they have had banks stop ordering halves because they would keep getting returned.

Is having mutiple accounts at different banks the best bet? Is it better to slowly return the coins back to different branches? Any help from I can get from any of the more experienced roll hunters would be greatly appreciated. Thanks!

guitarwes · July 25, 2011 12:35AM

<< Is having mutiple accounts at different banks the best bet? Is it better to slowly return the coins back to different branches? >>

Yes and yes. Just make sure all those banks have coin counters.

DrBuster · July 25, 2011 12:44AM

My bank doesn't order boxes for me (as they suck), but with the halfs I do buy them out of I generally spend them as tips at bars/restaraunts. Any wait staff with kids love getting a couple of the big coins for the piggy banks.

AnkurJ · July 25, 2011 12:52AM

TD bank and Valley National both have free counters. With halves, I just re roll them and bring them back. They cant refuse it, its money.

MsMorrisine · July 25, 2011 1:03AM

I have an account with a bank that has a free coin counter for customers.

Last time I went in, the head teller complained I was just "using them" for the machine.

I wonder if they will eventually change the rules to free for customers of a certain level.

stevek · July 25, 2011 1:17AM

<< I have an account with a bank that has a free coin counter for customers.

Last time I went in, the head teller complained I was just "using them" for the machine.

I wonder if they will eventually change the rules to free for customers of a certain level. >>

There ia a local bank with a self-serve coin counting machine, with no juice, whereby ya don't even have to be a customer, and they never seem to mind doing the transactions. A good marketing idea in my opinion - gets new people into the bank and I would have to believe a certain percentage open up new accounts with them.

MsMorrisine · July 25, 2011 1:23AM

mine used to be that way but stopped.

frnklnlvr · July 25, 2011 4:55AM

<< TD bank and Valley National both have free counters. With halves, I just re roll them and bring them back. They cant refuse it, its money. >>

The only problem with bringing them back to the same back, even if they don't mind, is you may end up searching the same coins more than once. I turn mine in at a different bank to minimize the chance of getting the same coins again.

ctf_error_coins · July 25, 2011 4:59AM

With cents, I coinstar them and get an albertsons card so there is no fee.

Nickels and higher I roll them and cash them a little at a time at the bank.

keyman64 · July 25, 2011 5:02AM

One of my credit unions I am with allows free use of the self serve coin counter for up to $100 per day. So...if I did this, I would get the coins from another bank/credit union/branch and go through the stuff then return the clad to my credit union with the free counter. I have not done this but I do think about it more and more with silver prices where they are currently.

mixman · July 25, 2011 5:18AM

It seems that I will definitely need to look at finding a local bank that has a self-serve counting machine. I'm kind of in the middle of nowhere so it might be a long shot that the local credit union has something like that. I don't really have a problem with rolling anything other than pennies.

So I know, a box of pennies is $25 dollars and a box of Half Dollars is $500. Is that right?

grip · July 25, 2011 5:19AM

Right before I moved I loaded up my trunk with coffee cans full of
pennies and droped them off at the CU( I called before I went) and
they told me to just go home and they would call when there done.

They had deposited $1,600 in my acct. No charge,and they did all
the work...And of course I made the counter happy

four yrs ago.

morgansforever · July 25, 2011 5:19AM

When I search rolls of halves, I spend leftovers in daily transactions.
Making sure the store doesn't use the bank where I purchased them from.

fastrudy · July 25, 2011 6:16AM

I go to a different bank which allows free coin counter machines up to $500 per day for my box of halves. But guess what? It beats me on every box by one or two half dollars. Always short, never over. Once it is counted, there is no going back to check the count. I think that two thin-planchet halves (1996-2000) are counted as one half, and this is where the error creeps in. Didn't say anything until it happened for the third time in a row. Now I am allowed to bring them in re-rolled, and the bank does not count them via machine and charge me back later! I find that silver halves are rapidly disappearing.

fiveNdime · July 25, 2011 7:39AM

<< One of my credit unions I am with ... >>

i am friends with a C/U manager and she used to let me know when they came in.
now she searches them and i get nothing

SaorAlba · July 25, 2011 9:41AM

Because I was raised by my grandma(she also encouraged my coin collecting) and she grew up during the depression - I have never really been too trusting of banks. So I spread my money amongst seven different bank names. All of them are suppliers to my collecting habit somehow. My one commercial bank sells me all their bagged coins from merchant deposits every Monday - today I bought $70 worth of cents and nickels. When I am done with them later, probably in the morning I will take them to another bank that has a coin machine that doesn't charge anything. Ordinarily they would classify me as a commercial customer because of the amount of coin I put into their machine, and they would charge me 4% or something. But I worked out something with them that I buy all their Ike Dollars, $2 bills and halves - tellers hate them, and they take my coins and don't charge me. I also buy all their red seal $2's, silver certificates, and older FRN's. My credit unions order stuff for me, minimum of $200 per coin order, those rejects also go to the bank that takes the other coins.

My one branch of the first bank doesn't have bagged coin since they don't have as many commercial deposits there, but they do get rolled coins from the Fed. I can take them, but I have to do a 1:1 exchange for rolls since they don't want to be low on rolled coin.

A lot of the credit unions I deal with will take loose coin, and don't charge to change it if you are an account holder. The best part of the credit unions is that they order goodies for me like boxes of nickels. Last week I bought $400 worth of nickels and found a 1904 Liberty nickel in AG-3.

coinandcurrency242 · July 25, 2011 10:11AM

My opinion is add coins to the roll for the ones you took out, and when you need to spend money use the rolls. It is legal tender, and they have to take it. I get change all the time waitering, and I just roll it all up and spend it at different fast food places and other stores when I need to buy something!

derryb · July 25, 2011 10:13AM

MercCrazy · July 25, 2011 10:23AM

TD Bank gets about $3k a week, minimum, in change from me. Heh.

MaineJim · July 25, 2011 10:46AM

If you can manage an account of decent size, maybe around $10k - then they should let you dump full bags. I dump $1k bags of halves, they know my account will cover any shorts so it is in and out in a couple minutes. Never been a shortage and they even supply the bags.

Jim

MercCrazy · July 25, 2011 11:01AM

<< If you can manage an account of decent size, maybe around $10k - then they should let you dump full bags. I dump $1k bags of halves, they know my account will cover any shorts so it is in and out in a couple minutes. Never been a shortage and they even supply the bags.

Jim >>

You do realize the vast majority of individuals right now can barely keep a balance high enough to get a free checking account, right? $10k is a lot of money to have tied up in a bank account.

MaineJim · July 25, 2011 11:50AM

10k is a lot but sometimes you have to be creative. I know of one searcher who took a personal loan to finance his CRH. The interest on the loan was offset by the greater returns he had via the increased volume. The larger bankroll allowed the easier dumping of the coins which allowed him to increase his volume.

Jim

MercCrazy · July 25, 2011 1:11PM

Alright, but put yourself in my shoes.

24 years old, graduated college a year ago, make about $35-$40k a year, have $20k in student debt... you think it's possible for someone like myself to get a unsecured loan for $10k?

Never. I have... $4 in my TD account right now and they let me dump all the change I want there. I can also order whatever I want within reason that isn't half dollars. I order halves from other local banks where I have accounts with under $50. Find a bank that takes care of the customer, not just the wealthy customer, and you'll be fine, $10k in your account or not.

I think sometimes you older gentlemen forget what it's like to live paycheck to paycheck, or perhaps, were born well off enough to never have to worry about it.

MaineJim · July 25, 2011 2:34PM

I congratulate you on only having $20k in debt with your degree. I know so many graduates your age with $75k in debt...just ridiculous. I see your point on the unsecured debt. Keep looking for the free coin sorters! In my town there are quite a few which I frequently use for my mixed bags of dumps.

Jim

DuCrozat · July 25, 2011 2:42PM

Take 'em to the bank. Make 'em work for the bailouts. It's the least they can do.

PinkFloyd · July 25, 2011 2:42PM

Coinstar is what I'm planning on using. Just use the option for a gift card to one of the large retailers like Amazon. No fees. But then again, I'm not dealing with too many coins. Halves are pretty hard to come by up here in AK and that's mostly what I've been sorting.

ricko · July 25, 2011 11:21PM

I do rolls of halves.... (although periodically I stop out of frustration)... then I spend them... never find anything. Cheers, RickO

tahoe98 · July 26, 2011 8:35AM

<< So I have recently started hunting through penny and half dollar rolls from my local bank and I'd like to start ordering boxes. However I'm a bit in the dark with the best way to return all the zincoln and clad half's. I've seen some threads here where people mentioned using Coinstar and taking the 9.8% hit but I would like to try and avoid that. Ideally the banks would just take them back but I've also heard people here say they have had banks stop ordering halves because they would keep getting returned.

Is having mutiple accounts at different banks the best bet? Is it better to slowly return the coins back to different branches? Any help from I can get from any of the more experienced roll hunters would be greatly appreciated. Thanks! >>

...i've taken many many to the post office. never a whine.

SaorAlba · July 26, 2011 8:56AM

Today I rolled up the rejected nickels and took them back to the bank that I got them from, they needed them and were "loaning" them out.

ClinkinKY · July 26, 2011 9:33AM

I was told by a teller at my bank, after I asked if I could order halves, that they couldn't order any. She even poked her head into the manager's office to ask (or she poked her head into an empty office and PRETENDED to ask the manager

I've been a customer of this bank (Fifth Third) for 26 years. I'm thinking about writing a letter to the main office and asking "what gives". Anyone think this will do any good?

ajman · July 26, 2011 10:20AM

I haven't read through the whole thread but that's an easy one for me. Re-roll them and deposit them if not at the same bank then maybe another branch?

Roll Hunters: what do you do with the leftovers?

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