Wells Fargo Getting Rid of Coin Counters

Not that I blame the banks but in an effort to reduce overhead (tellers) they prefer customers who do their banking online and do not pay with a paper check. We will see the day when they charge for these traditional banking functions.

 

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I guess I'm lucky, one of the local coin dealers has his own coin counting machine and when business is slow and no ones in the store, he lets me use the machine. I'm still rolling the coins myself, but it sure beats counting out the coins to put in the rolls. I live in a rural are and would have to make a 50 mile trip to the Credit Union to use their machine. There is a Wells Fargo here "in the mountains", but they never had a machine.

 

I occasionally buy a $25 box of cents at my local bank, to go through (just like the Old Days), looking for ..... whatever. Pre-82s (I don't know what I will ever do with them....), wheats, Canadians, etc. Just something to while away a few hours at the kitchen table.
I then take the remaining cents back to the bank later on and they run them through a counter (back in the vault area, not accessible by the public) and I deposit the amount they give me (which has always been lower than what I had counted).
I've managed to acquire several rolls of wheat cents, a roll or two of older Canadians, and one nice 1903 Indian Head cent for my trouble.
I consider this to be Quality Time spent in quiet reflection of memories when I could actually find something collectible from circulation.
I've never used a CoinStar machine, but there is one at a local grocery store.

 

I was going to mention that I have two old hand cranked coin counters here at home, but my bank won't accept rolled coins, so why bother?

 

Its a waste of time and money for Wells Fargo employees to be counting customer's loose change when there's no profit to be made. It is more profitable for the customer to roll and count their own coins as per Wells Fargo. Slugs and foreign coins will be avoided as each customer must put their account # on each roll. If you're short your account will be debited.

 

The Wells Fargo I use has tried all of the skeems...

1) accepting customer wrapped rolls no questions
2) write your account number on the wrapper
3) write your account number on wrapper and they would put them in a sealed plastic bag with account number written on it (this lasted about 2 months lol)
4) accepting customer wrapped rolls no questions.

All of this over the last 20 years.

 

Being a product of a corporate world gone mad, the big boys don't care about 'long term' anything anymore. It's all about the quick and the dead today. Profit today, profit today and forget tomorrow. Sad but true. The bottom will fall out soon. It's a paper tiger that has no growl anymore.

 

'No profit to be made'? You mean 'not enough profit' I think. There's profit in much, just not 'enough' for the greedsters. That's the whole problem with corporate America. Ask them about labor costs and they'll always claim that 'controlling them' is 'of good business sense' Conversely, profit is to be ALWAYS unlimited and there can never be enough. Think of it. How much profit is 'enough'? The answer is 'never enough'. Ask the same group how much labor is enough and they'll always have an answer (usually a very lowballed number too). Our days are indeed numbered.

 

A 'mistake' that was incorporated into their high profit gameplan advocating 'exploiting' these kinds of 'mistakes', I'm sure. They are only sorry that they got caught is all.

 

Ok, it's the final countdown for the Wells Fargo coin machines in my area. All coin counting machines will be removed the week of February 20th. I'm going to do as much CRH as I can the next week!