TreasureNet
TreasureNet - The Original Treasure Hunting Website! TreasureNet - The Original Treasure Hunting Website! White's Metal Detectors - See What's In The Ground Before You Dig! Western & Eastern Treasures Magazine! J.W. Fisher's Underwater Search Equipment Kellyco Metal Detectors! Sedwick Treasure Auctions New England Detectors Big Boys Hobbies
White's Electronics
newenglanddetectors.com
New York State belt buckle Spanish Cob CONNECTICUT ONE PIECE MILITARY BUTTON Gold Signet Ring Civil War Camp Finds Celtic Gold Quarter Stater Maryland Militia Officer Button 1793 Flowing Hair Wreath and Bars Large Cent 2 and a half ounce nugget French Treasures 2011

My dime experiment

« previous next »
411 views | Pages: [1]   Down
  Bookmark This! | Print  
*
United StatesOffline
Posts: 87
Georgia

Posted Nov 11, 2009, 10:20:14 am

I have a bank that I am friends with the vault manager at.  Nobody uses it as a dump bank in any capacity, and very few people use it as a pickup bank.  There is one guy who gets 1 box of nickels a week, that's it, and he pays a small fee.  Through regular business, they ship a bag of dimes, nickels, and quarters no more than once a month. 

This bank, like others without counting machines, just takes customer rolls and dumps them into a bag once they have enough to ship.  They do not count the coins, just the rolls.  This particular bank charges a fee for pickup or dropoff of large quantities of coins, which is why it is not used much.

In talking to my friend, he is going to let me bag those coins for him.  Since they were going to ship them anyways, their regular fees don't apply.  Basically, I just get a call when any coin reaches shipping capacity, I buy them, he gives me a bag, and I re-deposit them later that day in the bag.  Saves his tellers time, and lets me hunt with an easy dump.  I realize, this of course breaks the dump rule, but he actually approached me to do it a few weeks after I had originally asked their policy on ordering boxes.

I got my first call on Monday, $1000 in dimes.  Result of 5 rosies.  I actually counted the coins, even though they don't, and luckily every roll was dead on, so nothing was shorted.  there were 4 foreign (trinidad, canada x2, belgium) but he instructed me to leave foreign in the bag unless I wanted to keep it.
*
Offline
Posts: 2636
Hampton Roads, VA.
Detector used Detector(s) Used - bounty hunter sharp shooter 2, minelab sovereign xs 2a pro

_____________
Bannered!
Silver Stash
_____________

Reply To This Topic #1 Posted Nov 11, 2009, 10:22:33 am

Sound like you could stand to score big on that deal.

Golden Silver
*
United StatesOffline
Posts: 87
Georgia

Reply To This Topic #2 Posted Nov 11, 2009, 10:28:24 am

Yeah, I hope so.  I can also see the many ways it could backfire though, with short rolls and wrong denominations, but so far so good...
*
United StatesOffline
Posts: 2049
Southeast
Detector used Detector(s) Used - ACE 250 (MD) Bare hands (CRH)


Primary Interest: All Types Of Treasure Hunting

Reply To This Topic #3 Posted Nov 11, 2009, 10:30:49 am

That sounds like a nice deal you got going there.  Hope you are able to score some big silver finds!

Month (January)/Year
2012 CRH Totals:
War Nickel: 0/0 Roos: 0/0 Merc: 0/0 WLH: 0/0 Bens: 4/4
90% JFK: 22/22 40% JFK: 86/86
*
United StatesOffline
Posts: 5785
dirt, inc.
Detector used Detector(s) Used - EXPII/SEF/GGHOST


Primary Interest: Other

... Dirtfishing

Reply To This Topic #4 Posted Nov 11, 2009, 11:35:57 am

  My CU sends coin out in bags.  I believe that the bags are weighed after shipment out. (The girls at the CU block silver and rare paper outgoing.)  The courier allows so much under and over weight.
*
United StatesOffline
Posts: 4291

Reply To This Topic #5 Posted Nov 11, 2009, 12:03:15 pm

You got a good thing going ! thumbsup

Good luck

Rich

2011 Finds
6x War Nickels
1x Buffalo Nickel
 1x Mercury Dimes
66x Roosevelt Dimes
2x Canadian Dimes
0x Washington Quarters
15x WLH
12x Franklin
46x 1964 Kennedy
161 x 40% Kennedy
*
United StatesOffline
Posts: 2451
Michigan

Reply To This Topic #6 Posted Nov 11, 2009, 05:28:57 pm

  This is a perfect scenario. Good set up.

  Mojo

CRH Mojo "Thanks For buying American"
Tags: Dime Experiment 
Pages: [1]   Go Up
  Bookmark This! | Print  
 

RECENTLY FEATURED W&ET ARTICLES...
feature article feature article feature article feature article feature article feature article feature article





Copyright 1994-2012 TreasureNet (tm) All Rights Reserved.
Powered by SMF 1.1.16 | SMF © 2006-2011, Simple Machines LLC
SimplePortal 2.3.3 © 2008-2010, SimplePortal


If you've found this site entertaining or informative,
toss some appreciation in the tip jar.
TreasureNet Tip Jar
Treasure Hunting By State Treasure Hunting By Country Treasure Auctions






TERMS OF USE

TOP


Google visited this page Jan 23, 2012, 03:32:04 pm