Question for all the roll hunters

FallGuy

Senior Member
Joined
Jul 14, 2012
Messages
470
Location
New Jersey
I do small amounts of coin roll hunting, usually when the bank has a few rolls of halves laying around. My dump bank is my local TD Bank with a free coin counter. Problem is their machines are notorious for miscounts. In fact, I count my halves before placing them into the machine and 100% of the time I am shorted anywhere from $1.00 up to $5.00 depending on how many I dump. It then requires to get a manager over to open the machine and find the missing coins. And on more than one occasion, it still shorts me because I believe the coin(s) made into the bag without counting.

Those that buy large amounts of halves, are you concerned about getting shorted? Do you know if your machine have the potential to short you or not? That has been the one thing that keeps me from buying boxes of halves. While you are gaining value for any silver you find, you will lose money from faulty machines. I can't imagine that there are too many manufacturers of commercial coin counting machines so I wonder if the same brand in TD Bank are in other banks as well. Thoughts?
 
I have lots of experience with the machines.

My main problem was dealing with banks. I had numerous accounts. I eventually 'dumped' them all. Great if you can find a bank with no fees, hard to do nowadays. No matter what I did to pacify them (direct deposit, staying above minimum balance, etc...the fees kept coming, most often with no notice). My roll hunting hobby should be fee-free to keep overhead to a minimum.

Credit Unions are very co-operative with me, they aren't greedy like banks, and resolved my problem with counters.

It's simple. My issue was involved those tiny dimes, and dumping thousands per week. I knew my count, (even though I never counted). Lets say I am dumping strictly dimes...my receipt shows 47 dimes counted as cents,...*and your counter had better give you a receipt*...no problem, tellers later find my dimes in the cent bag and credit my account, this has happened a dozen times. The same principle should apply to any denomination you are dumping.

This may not work for everyone, but if you have a good relationship with your bank or CU, it should not be a problem. If it is, move your account to one that will work with you.

I realize that my issue with dimes really isn't related to shorting, but I like the
LaRue counter. I don't recall being shorted when dumping halves. There are some very archaic counters out there, and the ones I use are modern.
 
Unless the counting machines are cleaned and serviced religiously (costs money), they are going to rip people off. It's certainly not something a bank would do deliberately, since they have to balance the books daily. A few dollars and scents, might not seem like a lot to most, but it really messes up the numbers, and needs to be resolved. Coin counters have been around for decades, but most banks don't have them out for customer dumps.

Coinstar machines, would be more like a soda vending machine, a separate business, from where it's placed. Most people won't squabble over a few dollars or cents, free money for the machine owner.
 
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