Vault Services

[Darth Walker]

Hello Guys,

I work at a bank and for the first time I told my teller supervisor to order me a box of
halves. I told the teller that I will buy about $50 daily. This is a 10 days take down.
I do not want to pile a lot of unroll coins because I want to be nice to my dump bank
and do not want to take a lot of loose coins. I do not work in the teller area. I work in other department.

My question is about the company that provide coins to my bank and well about the other vault services companies that provide coins to your banks.

How is it that we can get silver from rolls that come from vault services companies?
I guess the employees that work for these companies know about coins and they are looking too. How do these coins escape from them and we get them. I am just very curios. I mean if I was the worker at one of these companies I will be always on the look.

Any answers?

Thanks

 

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[golden silver]

There has got to be some kind of rule. I mean I am sure some are taken out but who is to say these services are not all machine operated. Think about it that is a hell of a lot of coin to sort through. You would have to pay a lot of people. Machine would make it much easier.

-Golden Silver

 

[Ju8vP3t]

I've mentioned this story before, but since the subject came up, and too, it's something I've thought about,....was talking to my coin store guy a while back, and he said not much was coming in(Ag from customers selling) he said "I was getting a lot of 90% from one or two individuals that worked at Brinks" he said they were collecting the silver coins, and bringing them in to sell, but Brinks found out and fired them, against policy......I asked how they were doing it and he said the sorting machines would separate the silver from clad,,,Has anyone ever heard of a machine that can do that? I never have, and too, I don't think the Car companies would even bother, sure it's silver, but that's not their business, I think they're specialized just to collect and transport, it'd be like going to a dentist for a broken arm, he could help, but it's not his area of expertise, anyone got an opinion?

 

[silverfinder37]

I've mentioned this story before, but since the subject came up, and too, it's something I've thought about,....was talking to my coin store guy a while back, and he said not much was coming in(Ag from customers selling) he said "I was getting a lot of 90% from one or two individuals that worked at Brinks" he said they were collecting the silver coins, and bringing them in to sell, but Brinks found out and fired them, against policy......I asked how they were doing it and he said the sorting machines would separate the silver from clad,,,Has anyone ever heard of a machine that can do that? I never have, and too, I don't think the Car companies would even bother, sure it's silver, but that's not their business, I think they're specialized just to collect and transport, it'd be like going to a dentist for a broken arm, he could help, but it's not his area of expertise, anyone got an opinion?

There was a company who all they did was sort clad from silver, the armor car service (I Think Brinks) had a deal with them. If memory serves me correct I believe they where in Ohio.
Happy Hunting, Ray

 

[jim4silver]

The idea of Brinks, or some other courier worker taking silver out of the coins appears on this forum about once every 3 weeks or so. It is complete BS plain and simple Any CRHers here who get boxes and find silver in them can attest to that. I get 99% of my boxes from Brinks and although the finds are far less than before, I am still finding silver.

How long do you think a Brinks or other courier worker would last at his job is he was seen pilfering through the trough of coins looking for silver. What is he gonna do, stick it in his pocket and replace it with a clad? Maybe there are crooked workers that have removed silver in the past and gotten away with it, but there would have to be a policy preventing employees from doing this. It would be too difficult for management to monitor who took what and making sure the silver coins were replaced by the employee.

These courier services work as liasons for the Federal Reserve Bank and the individual banks. If a courier company was found to be tampering with the coins or taking them and causing the banks to come up short their contracts would be yanked and they would go out of business.

As far as the company using special machines to remove silver coins, it is not true. If it were true, we would not be finding ANY silver in the boxes.

Jim

 

[jim4silver]

There was a company who all they did was sort clad from silver, the armor car service (I Think Brinks) had a deal with them. If memory serves me correct I believe they where in Ohio.
Happy Hunting, Ray

No this is not accurate. There was a metal company in Ohio that was supposedly sorting out silver coins from clad, since the gov made it illegal to melt pennies and nickels. They had nothing to do with courier services.

Here is the link to that story.

http://blog.cleveland.com/metro/2007/11/ohio_lawmker_wants_to_lift_ban.html

Jim

 

[silverfinder37]

There was a company who all they did was sort clad from silver, the armor car service (I Think Brinks) had a deal with them. If memory serves me correct I believe they where in Ohio.
Happy Hunting, Ray

No this is not accurate. There was a metal company in Ohio that was supposedly sorting out silver coins from clad, since the gov made it illegal to melt pennies and nickels. They had nothing to do with courier services.

Here is the link to that story.

http://blog.cleveland.com/metro/2007/11/ohio_lawmker_wants_to_lift_ban.html

Jim

Jim if I offended you Hey I'm sorry, I just stated I thought ,regardless folks are still adding to the supply by cashing in older coins all the time, our job is to be at the right spot at the right time.
Happy Hunting, Ray

 

[Ju8vP3t]

Well that was sorta along the lines of my thinking, that car companies are not going to sort out silver, I just don't think they're in that business, and with the volume they must handle, I don't think it would be practical, plus the logistics of it, they'd have to create a department for handling the silver(collecting, selling,,etc) I don't think they'd ever do it, they make their money on what they do, pickup,transport and supply...I guess my main question was; did anyone think there was a silver sorting machine out there........jim, since it seems you're pretty adamant and passionate about your opinion, I'll go along with it.....

Does anyone know how the mechanism in various machines, work to detect slugs or foreign coins?

 

[Shake-N-Bake]

Does anyone know how the mechanism in various machines, work to detect slugs or foreign coins?

The machines that sort out coins due it two ways. First way is using a magnet, second way is by conductivity just like a discrimination on a metal detector. Oh and by the way there is a company in NY that sorts silver from clad coins. And there is also Jackson Metals that was sorting copper pennies by the millions untill the law changed, now they have a small silver sorting facility. I also feel the coin proccessing facility that is contracted by the carriers in my area sort silver, I have been told by serveral banks they do and that would be the only logic behind my 62 skunk boxes of halves...

Jason

 

[jim4silver]

There was a company who all they did was sort clad from silver, the armor car service (I Think Brinks) had a deal with them. If memory serves me correct I believe they where in Ohio.
Happy Hunting, Ray

No this is not accurate. There was a metal company in Ohio that was supposedly sorting out silver coins from clad, since the gov made it illegal to melt pennies and nickels. They had nothing to do with courier services.

Here is the link to that story.

http://blog.cleveland.com/metro/2007/11/ohio_lawmker_wants_to_lift_ban.html

Jim

Jim if I offended you Hey I'm sorry, I just stated I thought ,regardless folks are still adding to the supply by cashing in older coins all the time, our job is to be at the right spot at the right time.
Happy Hunting, Ray

I was not offended Ray, just wanted to relay the facts.

Jim

 

[jim4silver]

jim, since it seems you're pretty adamant and passionate about your opinion, I'll go along with it.....

It is not really a big deal to me, but this issue comes up quite frequently. Since this is a forum where new CRHers may come to seek advice, info, it bugs me that disinformation like this is being disseminated (even though it is inadvertent I believe).

Does anyone know how the mechanism in various machines, work to detect slugs or foreign coins?

The machines that sort out coins due it two ways. First way is using a magnet, second way is by conductivity just like a discrimination on a metal detector. Oh and by the way there is a company in NY that sorts silver from clad coins. And there is also Jackson Metals that was sorting copper pennies by the millions untill the law changed, now they have a small silver sorting facility. I also feel the coin proccessing facility that is contracted by the carriers in my area sort silver, I have been told by serveral banks they do and that would be the only logic behind my 62 skunk boxes of halves...

Jason

You might be right about your area Jason, I should only speak about my area, which I know does not have coin courier companies sorting silver. And probably most other areas in the US, since most posters here seem to find silver in boxes. But 62 skunk boxes in a row means something is going on, that is for sure.

I am curious what coin courier company they use in your area? Is it Brinks or a smaller company?


Jim

 

[Ju8vP3t]

Does anyone know how the mechanism in various machines, work to detect slugs or foreign coins?

The machines that sort out coins due it two ways. First way is using a magnet, second way is by conductivity just like a discrimination on a metal detector. Oh and by the way there is a company in NY that sorts silver from clad coins. And there is also Jackson Metals that was sorting copper pennies by the millions untill the law changed, now they have a small silver sorting facility. I also feel the coin proccessing facility that is contracted by the carriers in my area sort silver, I have been told by serveral banks they do and that would be the only logic behind my 62 skunk boxes of halves...

Jason

Jason....I don't metal detect, would you explain about "descrimination" and "conductivity"? I weighed a Canadian quarter and a US quarter, they weigh virtually the same and are almost the same size, but if you throw a Canadian quarter in the toll basket, it gets rejected, that's why I asked how machines that collect coins (tolls, coke machines....etc) separate them out, as long as the coin will pass a magnet, and the size and weight tolerances are very close....how would the machine be able to recognize the difference?

 

[Pennyworth]

I live in Ohio and I started crh'ing in 2006 and I use to order boxes of halves frequently from several banks. All of the boxes were from Brinks. I would say that in the middle part of 2008 I noticed that VERY little silver was in any of the boxes of halves from Brinks. Also many of the boxes had already been searched and the rolls were all opened. I think the people that crh turn in the rolls (at least in my area) opened on one side to the bank. As we do not have any coin machines at our banks. I think those rolls are being picked up by Brinks and being put back into the boxes opened. I can tell that the boxes have not been opened and re-sealed by any bank employees or workers.

 

[Ju8vP3t]

All the boxes I've ordered were not Brink boxes, the only Brinks box I ever got had nothing

 

[Shake-N-Bake]

Does anyone know how the mechanism in various machines, work to detect slugs or foreign coins?

The machines that sort out coins due it two ways. First way is using a magnet, second way is by conductivity just like a discrimination on a metal detector. Oh and by the way there is a company in NY that sorts silver from clad coins. And there is also Jackson Metals that was sorting copper pennies by the millions untill the law changed, now they have a small silver sorting facility. I also feel the coin proccessing facility that is contracted by the carriers in my area sort silver, I have been told by serveral banks they do and that would be the only logic behind my 62 skunk boxes of halves...

Jason

Jason....I don't metal detect, would you explain about "descrimination" and "conductivity"? I weighed a Canadian quarter and a US quarter, they weigh virtually the same and are almost the same size, but if you throw a Canadian quarter in the toll basket, it gets rejected, that's why I asked how machines that collect coins (tolls, coke machines....etc) separate them out, as long as the coin will pass a magnet, and the size and weight tolerances are very close....how would the machine be able to recognize the difference?

I am not truely sure how a medal detecter works I just know what it does. My detecter when scanning the ground will tell me if it is a quarter, dime, nickel, penny, and even if it is a pre 82 copper penny, or a silver coin. It uses electro-magnetic current some how, I am sure someone else can step in and explain it more. For example as you may know they made 1982 copper pennies and 1982 zinc pennies, I use my detecter to tell the difference between them. If you scan a canadian quarter and then a US quarter, and a US silver quarter you will get completely different fequencies. Coin machines are designed to seperate certain frequencies. I hope this helps.
Jason

jim, since it seems you're pretty adamant and passionate about your opinion, I'll go along with it.....

You might be right about your area Jason, I should only speak about my area, which I know does not have coin courier companies sorting silver. And probably most other areas in the US, since most posters here seem to find silver in boxes. But 62 skunk boxes in a row means something is going on, that is for sure.

I am curious what coin courier company they use in your area? Is it Brinks or a smaller company?


Jim

My coin couriers in my area are Brinks, loomis, and loomis and fargo. They all get there coins and send there coins to a sub contracted CWI facility. The boxes all come out with H. F. string rolls and CWI stamped on the boxes. Ans yes even brinks delivers these boxes, there is NO brinks boxes in my area. Someone told me before that it was impossible for brinks to deliver a CWI box but I have seen it done on a weekly basis. One of these days I will take a picture with my phone and post it of the brinks guy delivering CWI boxes. So to get back on the subject the Coin processing facility is called "ALBANY COIN FACILITY" it is in Albany NY. I deal with seven banks on a weekly basis, and have bought bags from just about all of them. NBT which uses brinks, sends there coins to the Albany facility, BofA uses loomis and they send and get there coins from the Albany facility. I was told by the manager of my local credit union that the brinks driver told her they search at the facility.(I believe the manager, it is also my neighbor) But they must only search halves becuase I get silver in dimes, and nickels(dont do quarters so I dont know about them). I get 16 boxes a week(well did before I got hurt last week) 4 on Monday from BofA, 6 from credit union on Wednessday, 6 from TDbank on Friday. all have been skunks and all have been dated from marck of 2007 till sept. 22 2008. I have done these boxes from Oct. 2008 till last week, 62 boxes in a row with no silver, I have found some clad proofs and some NIFC's but that is it. This is my situation as I see it and hear it around here, my be different in your area but that is what I came up with in my area.
Thanks,
Jason

 

[mistergee]

i know this same conversation from the past...however, i believe someone broke it all down and figured out how much silver they would have to pull to make a decent profit and it turned out it was more than they could pull....i'll see if i can locate the thread