Commercial acct for CRHing?

This forum is for the discussion of USA coin and paper money collecting that is unrelated to saving bulk Copper Bullion Penny, Nickel & CuNi Bullion Nickel, or Silver Coins for metal content. Feel free to post scheduled coins shows.

Commercial acct for CRHing?

Postby coindood » Fri Feb 23, 2024 11:35 pm

I'd like opinions on this. It's a hobby, hobbies have costs. Comparatively, CRHing has significant fewer costs than most hobbies, to the point where it's possible you could even turn a slight profit over time, whereas many hobbies are just a sinkhole of expenses with no monetary returns.

Seems like commercial accounts would eliminate a lot of hassles. At least two "Cointubers" I've watched do this. We've admittedly rode a long time on the good will of banks putting up with our requests. Before coin starts disappearing from banks, maybe it's time to consider it.

I guess your POV on this depends on what your CRH goals are. If it's making money, you're more likely to balk at fees and continue to complain, but if you simply enjoy the hunt, regardless of the value of your finds, it could be a viable alternative in these waning days of coin availability.
coindood
1000+ Penny Miser Member
 
Posts: 1272
Joined: Fri Apr 18, 2014 1:41 am

Re: Commercial acct for CRHing?

Postby Silver4face » Fri Feb 23, 2024 11:57 pm

I have been "bankmining" or "hunting" for almost 13 years now. I have never opened a commercial account, and I never will. I have not paid any fees since 2014, and those fees which were very minor were for dumping zincs. Look at my username! I only pay face for rolls.

I realize that times are getting tougher. It is advisable to hoard rolls (especially smaller denominations) BEFORE the banks start imposing fees or requiring certain "things" If you have a stash, you can continue your hobby for awhile, maybe even a long while without incurring the B.S.
Buy rolls NOW while you still can!
Silver4face
Penny Hoarding Member
 
Posts: 929
Joined: Tue Feb 16, 2021 6:36 pm

Re: Commercial acct for CRHing?

Postby cwgii » Sat Feb 24, 2024 10:55 am

At one time I had accounts at Every bank in Tucson. As they started fees of $5-10 per month. I closed All those accounts. I ,lost,, a lot of my ability to get coin. Now I have only chase, and 2 credit union. One of which will order boxes for me, Once, a month.

I even had to close one of my ,,dump,, credit union due them starting to charge for the coin machine.
cwgii
Too Busy Posting to Hoard Anything Else
 
Posts: 4375
Joined: Sun Oct 12, 2008 10:00 am
Location: tucson


Return to USA Numismatics

Who is online

Users browsing this forum: No registered users and 1 guest