Do you know how HARD it is to bring in 5,000+ coins to a changer machine? And then wait there hearing the cling an clangs forever and the machine breaking every two minutes while you’re back is trying to recover? Haha… It’s a good problem to have I guess ;)
Although to be fair, it wasn’t *true* spare change like my previous trips to the coin counters (aka my bank who doesn’t charge any fees – no more Coinstar for me!!). Remember back in the Fall when my coin addiction started up and I was taking home rolls and rolls, and even more rolls of coins to sort through for my my Blue Books? So I could get every date and mint mark of each denomination for the past 60+ years, as well as search for that sexy valuable silver? Which I hardly found? Haha… Well that’s why I had such a massive pile of change stored up. And why it took me TWO TRIPS to knock it out too – those things are heavy!!
Speaking of silver though, during one of these trips I was stopped by the manager and asked if he could look through everything as I was pouring ’em into the machine. I asked him if it was because he was looking for silver by chance, and he kinda paused for a second as if he just got caught doing something he shouldn’t be (which is kinda true), and he nervously chuckled saying that he indeed was ;) I told him not to bother as I’ve already done so, and asked him if he’s had luck doing that with other customers before? Trying to be friendly with him and see if he’d tell me anything juicy.
“Yes! Last year alone I made $10,000 from silver. I swapped it all out from the bank and then threw it in my safe.”
He then went to say this one customer turned in over $200 worth of old Morgan silver dollars (worth $30-$40 a pop at the time, even though the face value only shows $1.00), and the lady just wanted her $200 into her savings account. So collected all 200 coins, put $200 of his own dollars into the account instead, and took them all home with him!! Netting him at LEAST $6,000 if none of those coins had even more value on rarity, jeez… And had he also turned around and sold them to a silver & gold place too when the price was hovering around $35 an ounce (now in the low $20s, btw).
So obviously I didn’t have to worry about getting caught *myself* with dumping back the $500 box worth of half dollars I ordered from them in hopes of finding that precious silver too (I failed miserably).
But what about the customers in these cases? Is it wrong for bank tellers not to speak up when someone’s turning over thousands of dollars worth of coins knowing full well they’re getting ripped off? Or do you just chalk it up to one of the benefits of working for a bank? Looking afar it seems pretty messed up if you ask me, but then again I’m not sure how I’d handle the situation better myself? Just wonder how ethical it is in the end, and/or if the banks have some sort of policy on this?
Anyways, it was a hell of an adventure dragging in all those coins and watching the bags fill up one by one in the machine and having to wait for the tellers to keep swapping them out :) That’s the most I’ve ever carried OR gotten back in cash from any of my change turning in trips… My previous record was $101.62! Haha… And then $84.76 before that, and lastly $76.48. That’s quite the jump.
Here was how this latest batch broke down, for all you number nerds out there:
- 1,754 pennies = $17.54
- 1,003 nickels = $50.15
- 636 dimes = $63.60
- 747 quarters = $186.75
- 1,007 half dollars = $503.50
- 80 dollar coins = $80.00
- Total coins: 5,227
- Total cash: $901.54
And again, because I used the machine at my bank instead of a commercial one I saved over $90 in fees. Pretty good!! (I use Capital One btw, but only ‘cuz USAA still doesn’t offer business accounts which I use them for. Though in this case it actually worked out pretty well!)
Anyone else have some impressive spare change records? Anyone work for a bank or are better at finding valuable coins in their rolls than me? There’s always someone hustling somewhere!
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!