when the bank doesn't have sealed pennies boxes or won't order any

[mindtab]

I have a dilemma with banks not wanting to or telling you they can't order any penny boxes (because they don't have space and they have too many already turned in from businesses).
I remember the first 2 boxes I got, my first time, were sealed; the penny rolls were wrapped in red/white paper and the ends like something a machine would do. I found some nice pennies there, to include quite a few wheaties.
Later, went back to the bank, and they only had 1 sealed box. I tried to order some, and they wouldn't.

So, this past week I got 2 unsealed ones, from whatever rolls they had there (not white/red ones). The most horrible experience. Absolutely both of them, all 100 rolls, nothing but rejects. For real. The ugliest pennies ever, and the ones that even could withstand looking at them, would be worth nothing in interest.
There are many a couple more banks in town, but that's about it.
The nearest (same bank) branch, well, they can't order pennies either.

What to do now?
I certainly don't wanna go through this unsealed penny experience anymore.

[enamel7]

I would keep searching the customer wrapped coins. That's when I get my best finds! If they don't want to order just tell them you'll return them. Being machine wrapped doesn't guarantee anything and most people aren't collectors.

[mindtab]

I would keep searching the customer wrapped coins. That's when I get my best finds! If they don't want to order just tell them you'll return them. Being machine wrapped doesn't guarantee anything and most people aren't collectors.

enamel7, that's what I would have thought, as well. Maybe it's someone here who goes at the same bank and returned these boxes of really bad pennies. I mean, completely awful ones. They might be a collector, or ebay seller; who knows. I'll see what happens if I get them at another bank.

When I returned the previous boxes I had been through, the leftover which I rolled, I marked the outside wrapper of the rolls in a circle at the top. That way other people know they have been searched through.

[VAB2013]

It seems like some banks may be starting to turn their backs on collectors. The only reason I can think of is... they see collectors as a liability. It must cost the banks money to have coins shipped to them from the Federal Reserve. If this is the reason why, I think the best approach is to ask them if you can buy a box, search it, re-roll it and then swap it out. That way it's not costing the bank anything, you are just borrowing them for awhile, pulling out a few good ones and returning the rest. I know this doesn't help for people wanting to search large quantities... but it's better than not getting anything. Actually this is what I have to do because my bank is a small branch. I could see this working better quantity wise if you have more than one bank you do business with.

I have to agree with enamel! Oftentimes customer rolls are where you find the gems! But sometimes customer rolls look like they've been in a pond. Same thing can happen with the Fed rolls we get too!

[mindtab]

Viv, you are right about the cost of money and the other things you said. I belong to a small branch too. First they said they don't have the space; I said when they come in, call me and I'll be there in 8 min. to pick them up. No go.
Then they mentioned that either way, they can't justify the cost of having new ones shipped--since they get so many from businesses already. They did initially order 2 boxes when I had asked them, I returned them, and that was one time and one time only. After that, the manager said we can't order anymore. I don't think the teller minded (they know me), but the manager didn't agree with it.

If I knew that the rolls am being handed were rolled by customers or businesses (and not from coin hunting return), it would be great. But this was truly something else this week---2 complete boxes full of nothing but--serious verdigris, dents, bents, and only some 77/78/79's that were actually clear of that, but no use to me. Even the shield pennies were in awful condition. Incredible.

[VAB2013]

You may need to start an account with a new bank, sounds like this situation has gotten sour and may not be fixable. I have thought about having to do this myself at whatever time I have more time to roll hunt. The reason is, these small banks will carry just enough boxes of coins to service their commercial customers which might just be a hamburger joint and a gas station depending on where you live. If you can, open an account at a larger bank, but I would be up front with them and let them know that you are a collector and would you be able to get a "box of pennies" from time to time... (like once a week or two, don't scare them with some outlandish amount LOL) and that you can roll them up and bring them back to exchange for another box if that is okay with them. They might say they don't care if you bring them back or not, then that would tell you that they must be making enough money off of their commercial customers to not worry about the cost of shipping.

[VAB2013]

If it helps you feel better... we all get gummy verdigris laden rolls from time to time. I have made good friends with the people at my bank and the teller holds customer rolls for me. I got a bunch of customer rolls recently that looked like they came out of a goldfish pond. Every single roll was beyond nasty, I even found a few dimes that looked like pennies (oops .. the P word) but that's just how it goes sometimes for everybody

[mindtab]

Sounds like a great idea. Thanks for the advice and more so, the best way to do it when I talk with them. Will let you on the success. I was even thinking of just calling different banks, even immediate towns close to here, and outright ask them if they have sealed boxes, and I can exchange them (in case they fear they'll run out).
Am laughing (not like I am seriously considering it), but what if I went to the bank, got all their pennies they have, then they'll be 'forced' to order more. Give them my 2 boxes (with the rolls marked), tell them I want all un-marked rolls they have. HAHAHAHA

[VAB2013]

LOL... I'm sure that would raise an eyebrow and get the Manager racing up to the teller windows! Actually, I wouldn't call... just go see them. A friendly face is much better than a stranger calling on the phone

I wouldn't mention the dilemma at your other bank. Just start a new banking relationship and see how it goes!

[mindtab]

I went back up to read your advice "open an account at a larger bank, but I would be up front with them and let them know that you are a collector and would you be able to get a "box of pennies" from time to time... (like once a week or two, don't scare them with some outlandish amount LOL) and that you can roll them up and bring them back to exchange for another box if that is okay with them. ". I will do just that.
On the other side of the coin -lol- have you read anything on the mint producing or bringing back a mystery coin? I have no idea what that could mean, except am wondering --I they bringing back the copper penny (wouldn't that be awesome; am I still dreaming of that??, or the Liberty dollars)

[GrumpyEd]

On the other side of the coin -lol- have you read anything on the mint producing or bringing back a mystery coin? I have no idea what that could mean, except am wondering --I they bringing back the copper penny (wouldn't that be awesome; am I still dreaming of that??, or the Liberty dollars)

Maybe they mean the W mint cents.

[GrumpyEd]

open an account at a larger bank, but I would be up front with them and let them know that you are a collector and would you be able to get a "box of pennies" from time to time..

I would never say I'm a collector or searching coins. Banks do not want to do work to help people search coins. They take and give coins to get business accounts where coins come in and go out mostly because they think it will bring a big account with it. Play it their way, open a business checking or saving account (you can even get a deal where they give you $100-$300 to open the account if you keep a few hundred in it for 6 months). They give you an EIN but you still get a normal 1099 if you make interest. Never say you are searching coins, it's not their business to know. You also might use 2 banks, one to get the coins and one to deposit them. If you have a business account they probably will be happy to take your coins as a deposit in rolls, boxes, bags. Then use a different bank to get boxes. You can even flip back and fourth just don't do both things in one transaction, they may not be happy to take a box/give a box because that clues them in that you are wasting their time to search coins. Don't ask for a sealed box or whatever, they are not a coin shop they are a bank, ask for cents and take what they have, it's win or lose luck... customer rolls or machine rolls could be good so take what they give and search and return at another bank or long enough that they forget you.

The being up front might work if you have a big account and they want to be nice
Once in a while you might get a nice bank that will help on a small scale if you have any account but don't push your luck. The last thing they want to do is handle and count thousands or millions of coins for a coin searcher for free.

[VAB2013]

That's an interesting way to try to get more Lincolns to search, never thought about it that way. Thanks Ed! My bank doesn't count what I take back they either use the rolls themselves or give the brick to a commercial customer who needs it. The relationship I have at my bank is good, they hold customer rolls for me and give me all the "penny rollers" I need. I get a brick a week, which is enough considering how much time I have to search right now. But... if I wanted more than a brick a week... they might not be so nice about it or just tell me they don't have it to spare (which is probably the truth).

[Maineman750]

My bank has a coin counting machine, they sell me $50 bags, I search, then return them to be counted and deposited to my account. Keep in mind that banks are businesses, they do what makes them money and keeps customers so not all will accommodate you.

[mindtab]

Thanks, grumpyed for the advice. However, opening a business account it's too much for me; and I don't know if the bank would care enough about that.


So I went scouting today. Around 7-8 small bank branches in the area.


--First one, a branch of my bank a few miles away. They only had 50 rolls in trays, and agreed to part with them if I replaced them (since they weren't much into ordering coins, so they said). So I had a full box with me.


--Second bank located in a small old historic building (so nice and quaint, all wood around, I felt I was stepping back in someone's history); they had 2 boxes, unsealed. Didn't ask me if I had an account. I got one box. The clerk asked me if I wanted the other, but didn't have enough money on me.
Went to my bank (where, of all things, there was this young guy there cashing in a whole bucket of penny rolls; and I was thinking then, well, I know now where I'm going to return my rolls --at my own bank). So I got back to the historical bank, and I got the other box. I asked if they would be ordering some, and she said that well, now they have to. I said 'can you order a box for me as well? I like the sealed ones since I get more variety'. She said she will order it tomorrow and to come back on Friday around 10am.


--Third bank, a bigger branch. The clerk told me they had just run out of pennies last night, and an order was already placed that morning. She didn't ask me if I had an account there or not. She said if I wanted she will put in an order that day (to be added) for 1 box, and to come back Wed/or Thursday to get it.


Excellent. I love it. So now I have something to occupy my time with in these winter nights, while am also watching 'Life Below Zero' about living in Alaska on your terms.
And I can see there are options to getting pennies. Seems like the banks are not holding many sealed boxes unless they run out, and at most they hold in either state is 1-2 boxes.


So far, looks good tho. In the first 10 rolls, found a 1972-S shiny clear, nice notching on the date and some on LIBerty, a little on IGWT, thickness on reverse. Will see. Hopefully, some good ones by this weekend.