Another Newbie (Half-Dollar) Roll Question

[blueberra]

I just ordered my third box of halves (first two were skunks) and it occurred to me that I don't fully understand the 'journey' that half dollars (or any other rolled coins) take.

I order the coins from one branch of my bank (DCU) and dump them at another branch of that bank because it has a coin counting machine.

So I asked the teller if she knew the particulars as to where the coins go when the coin machine is full. She said that the bank 'sends them out'. Another teller told me that the bank deals with Loomis which is one of several 'money handlers' that the area banks use (she mentioned Brinks and Dunbar as competitors). I then asked her if Loomis rolls and inventories the coins itself and she believed that Loomis just sent them to the Federal Reserve.

So I said that means that I have very little risk of getting my own dumped coins back when I order a new box.

I felt pretty good except that I had obtained 2 rolls of halves at the dump bank earlier that day and noticed that they were machine-wrapped with the word 'Loomis' imprinted on each wrapper. These rolls were identical to those that came in the two $500 boxes I had previously searched which led me to think that Loomis does, indeed, roll and inventory the coins.

So I believe I need to find another bank to deal with -- one that does not use Loomis -- to order my halves. Granted, I'm only a very tiny fish in the pond, but how much activity is there overall with half-dollar rolls in that particular Loomis site?

I do have an account with TD Bank. Does anyone know if it also uses Loomis?

Do any banks deal directly with the Fed or do they all use some intermediary party?

 

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[Diver_Down]

You will never pull coin from the Fed branch in your area. The couriers serve as the intermediary. Asking what courier services what bank is not going to be helpful as it isn't a corporate decision that pertains to all branches. A district will negotiate contracts to serve their area's needs. For example, BoA in the Jacksonville area is currently serviced by Loomis. About 8 years ago, Brinks had the contract. Likely when the current contract expires, it would not surprise me to see Brinks back in control.

 

[Dozer D]

The Fed is totally out of the picture. The coin courier takes the money in, counts, rerolling to boxes, sends out to banks that order. You have to remember that they are dealing in thousands & thousands of same coin denom at once. Rarely will you ever see your same coin at least for months. A lot of guys tried marking their halves, dumped, and never saw them again. I would worry more about coin couriers that have coin counters that can EXTRACT SILVER as its being counted & or rolled. A friend of mine 3-4 years ago worked for a major coin machine manufacturer (field service & installations) said that there was a new generation of machines coming out that can extract silver at the flip of a switch. Very expensive, but the potential of our loosing silver is there none the less.

 

[Rookster]

Welcome to Tnet.

 

[da1984]

The Fed is totally out of the picture. The coin courier takes the money in, counts, rerolling to boxes, sends out to banks that order. You have to remember that they are dealing in thousands & thousands of same coin denom at once. Rarely will you ever see your same coin at least for months. A lot of guys tried marking their halves, dumped, and never saw them again. I would worry more about coin couriers that have coin counters that can EXTRACT SILVER as its being counted & or rolled. A friend of mine 3-4 years ago worked for a major coin machine manufacturer (field service & installations) said that there was a new generation of machines coming out that can extract silver at the flip of a switch. Very expensive, but the potential of our loosing silver is there none the less.

I use to use a numbering system where every time I got a box I would assign it a # and keep track of the date on a corresponding spreadsheet. Then I’d mark a certain percentage of the coins from that box with that #. I did often see them come back around in 2-3 months, but it would only be a small percentage of the marks. Ultimately I stopped because it didn’t really give me any additional insight into the system and definitely didn’t help me find silver but it did waste a bunch of time.

 

[Silver Saver]

Yep, what others have said is right. The couriers that pick up the coins will most likely reroll and box them up themselves. So it could be beneficial to pickup and dump with separate couriers, but at the same time someone else could also be dumping into the same courier you pick up from so you never know.

 

[LooseChange]

As soon as you have a source and dump, then order as many rolls/boxes as you have time and funds for (if your source/dump site can't handle that many, add a source/dump site). If your finds are good, keep doing what you are doing (actually, if finds are good, figure out a way to increase your turn volume). If your finds are horrible over a 3mo time, change up your sourcing (ie: different bank, credit union, etc). You have to give it enough time to show a pattern though.

Where you dump will not affect your productivity. It's only where you pick up that can make a difference. You will not waste your time searching the same rolls week after week because you dump into your supply stream. That does not happen unless you do dozens of boxes per week. I know it seems like it could, but it cannot.

The only strategy that works is to be in the right place at the right time. But, you have no control forcing the right place nor the right time.

 

[Dozer D]

Always ask for CWR's ( or bags) if possible, chances are better to catch a collection dump.

 

[A2coins]

Sounds like you got the system tight good job!!!!

 

[A2coins]

Also welcome