SNAFU In my CRHing

[The_EE]

So.. I got a couple items sold the last couple of days. A 170 gallon horse trough for $55 and my boat for $850. More CRH money.

Went down to dump $94 in nickels and $650 in dimes and one lady comes up to me if I got their letter? I said No I didnt, what was it about. Apparently they want to charge me 10% to dump coin. I laughed and asked if they were serious and she said yes. I asked if I could dump this coin free of charge since I didnt receive the letter and she said yes. Looks like I am going to have to call coperate and find out what is going on. I use 1 branch of theirs in town. 2 Branches up North, sometimes a third and then 2 others as emergency dumps if I have too much coin, to spread it out. I usually dump below $1000 but sometimes I will dump $1500 in a week.

Not once has a single one of them made mention that it was a problem, even though I asked them each week if they have anything I would like to do differently to make things easier on them. They say everything is fine and its not an issue taking my coin, well, until today. I am going to see about setting up getting coinlok bags and bringing in sealed bags of $500 dimes or $1000 halves so they dont have to run them in their counter to save them time, not that the 3 minutes a week I spend in their branch takes up a lot of time.

This puts a big pinch on my CRHing. They are my personal bank but my main dump branch too. Without them as a dump branch I am super screwed as I have no other branches to dump with. I just cant see how they could consider charging me $100 to dump $1000 in halves each week, which I will bring up with their regional manager.

 

Amazon Forum Fav 👍

Family Maps of Hinds County, Mississippi, Deluxe Edition - Grab it through Amazon!

[The_EE]

Well, I got my letter now.

Dear Mr Coin Roll Hunter,

It has come to our attention that we have been processing a large amount of coin through several of our branch coin machines for you. As a courtesy, we have not been charging you when you bring coin into our locations. However, out fee schedule indicated that coin machine usage is 10% of the amount that we run through our machines. Effective immediately, we will begin enforcing thei fee as indicated on our fee schedule. ( A copy of our fee schedule, indicating the fee, is included with this letter.)

Should you wish to purchase rolled coin from us, it will be dependent upon availability, but it available, we will also begin assessing a $10 per box fee for rolled coin purchased.

If you have any questions or need further information, you may reach me at the number listed below

Customer Service Manager
Assistant Vice President.

So it looks like I will be calling Monday to find out what the hell can be done to fix this otherwise I am funked. I have 8 boxes due Wednesday and only 2 banks to dump at now.

 

[Captaindoodle]

EE,

Despite what they tell you to your face...all aspects of CRH are an expense, and generally an inconvenience to banks. Whether they tolerate it or not is dependent upon the profitability of your other banking relationships and the tolerance or financial ignorance of the bank personnel involved.

Many of us fly under the radar because the amounts involved are not meaningful to the bottom line. I am concerned for the hobby's future due to the increase in mega hunting which seems to be proliferating.

Many folks don't seem to realize it is all about whether or not you make a noticable impact on the banks profits or morale of the teller line personnel.

It's a free country, so whether I think 5, 10, or 50+ boxes a week is too much for anyone to look at is irrelevant, but i can tell you with the increased pressure banks are facing to maintain profitablity, they are looking at controlling costs and raising fees wherever they can.

Sorry to be Johnny Rain Cloud, but that's the way I see it.

HH,
CD

 

[The_EE]

EE,

Despite what they tell you to your face...all aspects of CRH are an expense, and generally an inconvenience to banks. Whether they tolerate it or not is dependent upon the profitability of your other banking relationships and the tolerance or financial ignorance of the bank personnel involved.

Many of us fly under the radar because the amounts involved are not meaningful to the bottom line. I am concerned for the hobby's future due to the increase in mega hunting which seems to be proliferating.

Many folks don't seem to realize it is all about whether or not you make a noticable impact on the banks profits or morale of the teller line personnel.

It's a free country, so whether I think 5, 10, or 50+ boxes a week is too much for anyone to look at is irrelevant, but i can tell you with the increased pressure banks are facing to maintain profitablity, they are looking at controlling costs and raising fees wherever they can.

Sorry to be Johnny Rain Cloud, but that's the way I see it.

HH,
CD

I am more than willing to change what needs to be changed to continue. As stated, I ask on a regular basis if my dumping is an issue and is there anything I could do differently to make it easier for them. Perhaps pre sorting the coin into coin lok bags will be the fix maybe if that means less dumping, than so be it. I will talk with the lady on Monday and see what can be done to fix this situation. I might need to open a couple more accounts and spread the love a little more. That will hurt to have those extra funds set aside. I think I will cut out one buy bank since it has not produced yet.

 

[mills84]

EE, just to clarify, how are you bringing in your coins? CWRs, loose in bags, using their coin sorting machine, etc?

Curious how many of us use bank provided coin sorting machines, as opposed to wrapping the coins at home (especially the higher volume hunters)?

The only bank I know of in the area that has a machine available to customers is my main pickup bank. I don't want to use it and burn any bridges.

- Mills

 

[FormerTeller]

I am concerned for the hobby's future due to the increase in mega hunting which seems to be proliferating.

+1

 

[sack0silver]

I use coin counters at capital one branches. They bought out my local bank, that I been banking with since 2003, and I have asked multiple bank managers what the best option would be for me to dump and make it as convenient as possible. I always get the same response, use the counter, its not a big deal to change out the bags for them, I ask for their slowest time and generally keep my dumps under 1k. Sometime I dump more if I am really behind, but then I will not go to that branch for 1-2 months. I have proposed coinlok bags, but they always direct me to the machine as they do not deal with it, and Dunbar just picks them up.

I havent been able to have anyone increase the limit of $500 per bag for halves, they say they dont know how to do it, or that they arent supposed to mess with anything. I try to be as helpful as possible, if its weak skinny dude tellers or ladies, I just have them open the machine and I replace the bags for them, and carry them to the door...they seem to like that lol. Generally when I fill up a halve bag, they also replace other denominations while they are there, so I help them out with that as well.

I dump once a week max per branch, but since I have been busy I have clad piling up so I canceled my box orders for next week so I can just get rid of the junk and then I will only be doing 4 boxes a week, and dump it across 3-5 branches as needed. I would love to do 50 boxes a week, who wouldnt - if time permits, but I think I would quickly piss off every dump bank in my area.

People who have the option of dropping off 5k or whatnot in bags, that is awesome, and they are taking advantage of a great opportunity, but I think regardless of what the friendly managers and tellers think, corporate may eventually catch on to it and it will lead to negative consequences for them and everyone else. At the very least I think it may be smart at least mix up the volume here and there, just to tone it down for a few weeks, so it is not a consistent weekly occurrence that thousands of dollars of halves are dumped at various branches.

Sorry for the rant,
Happy hunting.

 

[The_EE]

EE, just to clarify, how are you bringing in your coins? CWRs, loose in bags, using their coin sorting machine, etc?

Curious how many of us use bank provided coin sorting machines, as opposed to wrapping the coins at home (especially the higher volume hunters)?

The only bank I know of in the area that has a machine available to customers is my main pickup bank. I don't want to use it and burn any bridges.

- Mills

I originally brought it in wrapped and they said they crack open the rolls to put them through the machine. I asked them which was easier for them, rolled or loose in bags? They said loose in bags so that is how i bring them in. Once a week, loose in bags. They take them in back, run them through their machine. I will talk with the lady, I am sure there is a way to work through this and I think it will be by me offering to buy coin bags to give them pre counted coin for them to send off to limit the work they need to do.

 

[SilverFace]

good luck. We all rely on and depend on our dump banks - I know I sure do with mine. Glad to hear you were able to sell a few things to get some more needed cash. Have you been to any more auctions lately?

Hope you are able to work something out with your bank next week to avoid the fees.

 

[The_EE]

good luck. We all rely on and depend on our dump banks - I know I sure do with mine. Glad to hear you were able to sell a few things to get some more needed cash. Have you been to any more auctions lately?

Hope you are able to work something out with your bank next week to avoid the fees.

Went to an auction today, didnt expect to find anything good there, turns out there was a safe being sold, went for $45 and I had $20 on me at the time. Oh well.

There are 2 auctions going on next Friday, one for sure has coins, the other most likely will. One is in the morning, the other at night so we will see what happens. I have a little over $2300 burning a hole in my pocket at the moment.

Tomorrow I will be going out and doing some trading with a lady in town. She collects coins for their numismatic value, I collect for pure silver weight. We will be trading my higher value coins for her coins worth in junk silver. That should bring me some extra ozt to the mix for next week.

 

[quiksilver]

As we debate this again the bottom line is regardless of what any of us think, different banks and areas will have different tolerances and pushing the limits can only hurt us in the long run. It always amuses me to see those who think its ok for a 65 year old frail women teller to have move copius amounts of coins because they believe any amount of coin supplied or dumped is their right.

pigs get fat - hogs get slaughtered

 

[mishra142]

keep us updated EE. I recently was told I am no longer welcome to use the coin machine at my primary dump bank. I've have set up other dump arrangments in the mean time. But this has opened my eyes to the importance of keeping a good relationship with dump banks and spreading it out.

 

[The_EE]

keep us updated EE. I recently was told I am no longer welcome to use the coin machine at my primary dump bank. I've have set up other dump arrangments in the mean time. But this has opened my eyes to the importance of keeping a good relationship with dump banks and spreading it out.

I have always had a good relationship with them. I bring them doughnuts about once a month. They never have once scowled at me when I walked in, always polite. I always thank them when they are done, I dont think its them I think its higher up that is the problem. They have even asked me if I could get them coin once because they were low. I have had 3 banks ask me if I could bring in a specific denomination because they were low lol.

 

[The_EE]

As we debate this again the bottom line is regardless of what any of us think, different banks and areas will have different tolerances and pushing the limits can only hurt us in the long run. It always amuses me to see those who think its ok for a 65 year old frail women teller to have move copius amounts of coins because they believe any amount of coin supplied or dumped is their right.

pigs get fat - hogs get slaughtered

I always offer to help in any way possible. I split up the coin into multiple easy to handle bags. halves never get more than a box a bag. Dimes never more than 2 boxes a bag. Nickels only a box a bag, they are quite a bit heavier than the other denominations, except halves.

I dont want to push their limits, I want to stay under them if at all possible. I want no waves in my ocean, I want smooth glass like surface, that lets me know that there are no problems and up until today, that is what I thought I had.

 

[namster]

keep us updated EE. I recently was told I am no longer welcome to use the coin machine at my primary dump bank. I've have set up other dump arrangments in the mean time. But this has opened my eyes to the importance of keeping a good relationship with dump banks and spreading it out.

I have always had a good relationship with them. I bring them doughnuts about once a month. They never have once scowled at me when I walked in, always polite. I always thank them when they are done, I dont think its them I think its higher up that is the problem. They have even asked me if I could get them coin once because they were low. I have had 3 banks ask me if I could bring in a specific denomination because they were low lol.

You are dealing with the men behind the curtain it seems.

 

[SilverFace]

Went to an auction today, didnt expect to find anything good there, turns out there was a safe being sold, went for $45 and I had $20 on me at the time. Oh well.

There are 2 auctions going on next Friday, one for sure has coins, the other most likely will. One is in the morning, the other at night so we will see what happens. I have a little over $2300 burning a hole in my pocket at the moment.

Tomorrow I will be going out and doing some trading with a lady in town. She collects coins for their numismatic value, I collect for pure silver weight. We will be trading my higher value coins for her coins worth in junk silver. That should bring me some extra ozt to the mix for next week.

that sounds like the lady you sad you met a couple of weeks ago at an auction. Did you say you had some Barber dimes or something you were going to trade her? I've got some numis coins I should be selling also since I'm mostly interested in silver investing these days too.

Anyway good luck tomorrow & next week too with your dump bank.

 

[The_EE]

keep us updated EE. I recently was told I am no longer welcome to use the coin machine at my primary dump bank. I've have set up other dump arrangments in the mean time. But this has opened my eyes to the importance of keeping a good relationship with dump banks and spreading it out.

I have always had a good relationship with them. I bring them doughnuts about once a month. They never have once scowled at me when I walked in, always polite. I always thank them when they are done, I dont think its them I think its higher up that is the problem. They have even asked me if I could get them coin once because they were low. I have had 3 banks ask me if I could bring in a specific denomination because they were low lol.

You are dealing with the men behind the curtain it seems.

That is what I am thinking as well.

 

[The_EE]

Went to an auction today, didnt expect to find anything good there, turns out there was a safe being sold, went for $45 and I had $20 on me at the time. Oh well.

There are 2 auctions going on next Friday, one for sure has coins, the other most likely will. One is in the morning, the other at night so we will see what happens. I have a little over $2300 burning a hole in my pocket at the moment.

Tomorrow I will be going out and doing some trading with a lady in town. She collects coins for their numismatic value, I collect for pure silver weight. We will be trading my higher value coins for her coins worth in junk silver. That should bring me some extra ozt to the mix for next week.

that sounds like the lady you sad you met a couple of weeks ago at an auction. Did you say you had some Barber dimes or something you were going to trade her? I've got some numis coins I should be selling also since I'm mostly interested in silver investing these days too.

Anyway good luck tomorrow & next week too with your dump bank.

Yeah, I have 10 barber and 2 seated dimes to trade, some mercury dimes, standing and barber quarters, maybe trade some of my walking halves as well. Not sure what we will be wanting but regardless I should come out way ahead.

 

[penman77]

I received 3 phone calls over a 2 month period from my CU, asking questions and reminding me that the coin counter is not for business use. They seemed to be wise to the fact that I was spreading out my dumps over different branches. Now my wife does business there but I don't use them at all.

My new dump bank accepts my $3000 per week in coin lok bags. They know exactly what I am doing because I told them what I needed and asked if they were interested in my business. That was before I opened the account.

I keep at least $10,000 in that account, not because it is required but because I think it is the right thing to do. They are valuable to me so I want to be valuable to them. That's how business works. Those of you who dump or pick up boxes at banks where you keep $14 in an account are not valuable to those banks and are therefore in a precarious position. That statement is not directed at anyone in particular.

 

[golden silver]

Unfortunately when so many are doing this hobbie in vast quantity and banks are trying to stay afloat this may happen more and more often. I hope not.

Golden Silver