Dump banks or?

[Lasivian]

So I went to a Phoenix bank that I found out had free coin depositing.

And I talked to the woman when I was signing up about it, and she said that there might be a charge to deposit large amounts of dollar or half-dollar coins because so few people use them. It incurs them extra charges from the armored car companies.

Any ideas on how to get rid of your coinage without paying for it?

 

Amazon Forum Fav 👍

DR.ÖTEK Metal Detector, Waterproof Gold Detector, Pinpoint & Terrain Modes, Professional Metal Detector - Grab it through Amazon!

[packerbacker]

I don't have a bank with a coin counter around here. I either re-roll them or take them to a nearby Indian casino. The casino doesn't charge anything. You can do these things or make your house and car payment in halves every month.

 

[Tabfry]

Any ideas on how to get rid of your coinage without paying for it?

Well... gas is getting kinda expensive. A box should get you a tank or two!

 

[Lasivian]

I either re-roll them or take them to a nearby Indian casino. The casino doesn't charge anything.

You just bring them a bag of random halves and they count them out for you and give you bills?

And, where does one get a heavy coin bag?

 

[LJ]

I either re-roll them or take them to a nearby Indian casino. The casino doesn't charge anything.

You just bring them a bag of random halves and they count them out for you and give you bills?

And, where does one get a heavy coin bag?

I have plenty of those canvas bags.....let me know if you need one....I'll send you two.....

 

[Lasivian]

I have plenty of those canvas bags.....let me know if you need one....I'll send you two.....

Sure! I'll take them full please!

Where did you get them btw? At this point i'm just kind of curious who makes them or supplies them. (Or, if it's an under-the-table kinda thing, like postal buckets and milk crates, heh)

 

[fiatboy]

I always keep a few halves in my car for small purchases.

 

[schramm]

So I went to a Phoenix bank that I found out had free coin depositing.

And I talked to the woman when I was signing up about it, and she said that there might be a charge to deposit large amounts of dollar or half-dollar coins because so few people use them. It incurs them extra charges from the armored car companies.

Any ideas on how to get rid of your coinage without paying for it?

Did she hand you a fee schedule BEFORE you opened the account?

Or is she just making up a fee to make you not sign up with her branch/bank?

Did she tell you what the amount was?

From what little I have learned about counting machines,I understand that you just go in with what whatever coin you want to deposit and run it through the machine they don't even know what your putting in there unless you fill a bag and have more to put in and they have to change it,otherwise you just bring in your change and the machine gives you a receipt and you bring it to a teller and they give you a deposit receipt.

It CAN'T cost the armored carrier any more $ to run halves through the machine!Whether they are running cents or halves the machine uses electricity and labor to prepare coin for boxes.

It actually would make more sense that halves would be quicker to roll for the machine because of the smaller amount needed to fill a box-which means less labor time=LESS cost to roll than anything else besides dollars.

I can't believe she even said that to you considering it would mean a new customer to the bank and I know the people who sign up new accounts get some kind of commission/bonus.There is some incentive to the actual person for getting someone new to join the bank-not sure what it is.

I believe most of the hunters on here who go through insane amounts of coin use a FREE coin counter at a bank or credit union.It wouldn't be possible otherwise if you had to roll it all up...

Let us know what the fee is or if she "decides" to let you do it anyway without a fee because she's "nice" .Good luck.

 

[fiatboy]

Whatever the bank says, get it in writing.