Coin Shop Owner on BANKS HATING COIN SHOPS

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In this video I talk to a coin shop owner about banks hating coin shops and closing coin shop owner's bank accounts. Coin shops use lots of cash and this can be one of the reasons that banks do not like coin shops. This bullion dealer talks about how his bank charges him to deposit cash. We also talk about Liberty safes and if they are a good safe to buy for silver stacking or not. When it comes to buying silver, silver stacking, or investing in silver I love talking to the coin dealers. The owner of a coin shop can have great advice. I think that the banks simply do not like cash heavy businesses and many more coin shops may have their bank accounts closed for that reason. Does this have anything to do with CBDCs or a digital dollar coming soon? Feel free to check out the other videos filmed at Harry's Coin Shop:
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Topics I cover in this video: banks hate coins shops, coin shop bank account closed, banks closing coin shop accounts, bank closes coin shop account, coin shop bank accounts closed, coin shop, coin dealer, bullion dealer, local coin shop, coin store, coin shop owner, liberty safe, coins, coin, rare coins, silver coins, gold coins, coin shop coins, buy silver, harry's coin shop, silver price, silver investing, silver stacking, silver and gold, invest in silver, invest in gold, cbdc, cbdcs, digital dollar, war on cash
#silver #gold #coins

Опубликовано:

11 сен 2023

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Комментарии : 789

@karlklein2966 9 месяцев назад

I went to my local community bank to withdraw $4,000 to purchase a used car. I was told I could only withdraw $2,000 per day. I said, "ok, I'll be back tomorrow for another 2k and the day after that for another 2k and the day after that until all my cash is out of your bank." I got a call from the bank manager after I got home and he explained that they were worried about a bank run. I told him that limiting access to the people's own money will cause exactly what he was trying to avoid and I was going to tell everyone I knew. He told me to come back in and I could have the rest of the money I needed.

@gchsbus 9 месяцев назад

That happened to me once. ONLY ONCE. I asked them plenty of times. I also had to make a large purchase and the seller refused to come to my bank to get a cashier's check. I wanted them to come so they knew it was real. They only wanted cash. I called the corporate office and kept going higher and higher up. No one would authorized it. So I told them I was calling the police. I then calmly walked outside and called the police. The police came and I told them the bank would not give me my money. They went in and came out and helped me file a police report. The next day, my debit card did not work. They closed my account. i called them. Reason stated they felt I was a danger to employees. I did not even yell or scream. So they sent me a cashiers check in the mail for my balance and basically told me in the nicest way possible to not come back. To this day, when I am doing business, I do not accept credit cards, debit cards, or checks from that bank from my clients or customers. Sorry.

@willscottrell6919 9 месяцев назад

@@gchsbus What did you want the police to do? It's clearly a civil matter. If I was the bank I would have booted you also. Their ball their rules. I'm not saying you were wrong as you were NOT and you did the right thing, take your business elsewhere if you don't like the rules.

@gchsbus 9 месяцев назад

@@willscottrell6919 I wanted a police report incase I wanted to sue them.

@matthewbyrns-sp8lb 9 месяцев назад

@@gchsbusWow, just pile up cash, then turn into gold, have to hooard cash

@user-nw1cz2in5s 9 месяцев назад

@@gchsbuswhat bank

@MichaelRighi 6 месяцев назад

I love how pragmatic and rational Harry is. A breath of fresh air.

@cottonclarksa 20 дней назад

I’m seeing tour comment five months after your post, but I had the same exact feeling about Harry. He is very authentic, very believable. I very much enjoy the topics that @SilverDragons addresses, but I very much appreciate Harry‘s input on the coin shop side of things. Still, the banking industry on the whole is very questionable in my mind. Yes, they have a lot of regulations to follow, yet they also create a lot of oversight and governance that favors them, as well. In fact, if you go back several hundred years the so-called financiers (aka bankers) have ALWAYS had favorable governance. To wit, You can go back to the tea party incident in Boston in the 1700s where the financiers were a major player behind that event . And look what that created! 😏 Bottom line, yes, I agree with Harry in that banks have every right and reason to charge fees to remain profitable. But I don’t trust them; I don’t trust the influence they have over governmental legislation and regulations. Just don’t.

@Rob_F8F 9 месяцев назад

Love this business owner. He believes in the profit/cost motive and not in crazy conspiracies.

@RMUNOZ1963 7 месяцев назад

Harry is a top professional. I learn from him.

@TheQuickSilver101 9 месяцев назад

This was certainly a different kind of video but these issues need to be discussed and I for one appreciate that you talked about them with Harry. Thank you!

@stratcaptain66 9 месяцев назад

Harry of course is wrong about the reason cash businesses are being targeted. Yes its more trouble for banks to deal with cash but a CBDC would hand complete control over to banks and government and take all our monetary freedom at the same time.

@100fold64 9 месяцев назад

@@stratcaptain66i agree, the globalists are lining up the agenda to lock us down (takeaway our freedom) any and every way they can. I like Harry and think he is an honest man, but he isn’t seeing the big picture!

@bensherman8976 18 дней назад

@@stratcaptain66I agree 👍🏻

@brackishbass 9 месяцев назад

**ATTENTION** I just walked up to a local coin shop "LCS" and they had one of those palm readers that map your veins. When they told me to scan my palm for security purposes, I immediately walked out. I called them back to inquire if it was a mandate or business decision, and they advised me that "it is a business decision for security purposes." I explained the machines have a deeper implication, and I meant no disrespect. I will not be returning, nor will I give any store my patronage who has one of these machines.

@lostincyberspaceIII 9 месяцев назад

I am curious what your reasoning is? is it just tracking or is there something more?

@bujmoose3992 9 месяцев назад

@@lostincyberspaceIII You might not be a believer, but some of us think it is just one step closer to "the mark of the beast"

@neilforeman 9 месяцев назад

Good call friend.

@sixinchhiheels 9 месяцев назад

@@lostincyberspaceIII Oh dear. Yea, I highly recommend you conduct your due diligence. Smart cities, Agenda 30, MAUI FIRE, MORROCCO EARTHQUAKE, PARADISE, CA FIRE, ETC, ETC. The rabbit hole runs D E E P! Brackishbass is right on!

@sixinchhiheels 9 месяцев назад

@@bujmoose3992 The book of Revelations

@kenporonin1 9 месяцев назад

Didn't all banks have to count the cash that was deposited into them.....? This is insane...... This is why everyone needs to continue using cash in their everyday transactions.

@KozmoDyne 9 месяцев назад

When banks think that handling cash is beneath them, then they have reached so much sense of entitled privelege that its time to rethink the institution. They are basically trying to use shame (again) to get us to surrender personal sovereignty for (again) the "common good". Meaning, commonly only good for them.

@Razor__1972 9 месяцев назад

they are going to ban hard currency

@greyfox79007 9 месяцев назад

No banks carry the minimum required to cover deposits that was 20% until Covid then they reduced it to 0%

@Theactualcurrentsea 9 месяцев назад

Won’t happen cause people are too lazy. Everyone needs everything to be super easy and even faster. Thing is nobody knows why or where they need to go so fast. Bunch of people in a hurry not knowing where they are going, the American dream.

@TrustyZ900 9 месяцев назад

@@Razor__1972 And we'll all be screwed.

@paulwier7005 9 месяцев назад

Coin shop owners should start there own bank or Credit Union. I would think this would stop this B.S.

@paulrichards383 9 месяцев назад

They already are a bank so for any shop to use a "bank" seems ridiculous to me. Actually, everyone ought to be their own bank. Unfortunately, most people are pure idiots.

@zenvultra 9 месяцев назад

@@paulrichards383 How would someone go about operating as their own bank?

@Seth9809 9 месяцев назад

@@paulrichards383 Credit Unions are great, what are you talking about?

@marcuschonglanceanderson2390 8 месяцев назад

@@paulrichards383wise

@busterbiloxi3833 6 месяцев назад

Start your own bank or STFU!

@mikes9759 9 месяцев назад

1400 a month service fee is a tough nut to handle!! Always good to see Harry and the guys in his shop!! He's a welth of knowledge. I hope he and all the other good shops out there can stay in business for years to come!!

@ProjectEric2024 9 месяцев назад

Harry is one of a kind giving an honest non-conspiracy opinion here. I love these videos. More Harry content please. Actually as much as possible just shadow him for a week in his shop.

@bobsal5776 9 месяцев назад

I love it when you visit Harry’s shop! Keep these videos coming 🇺🇸😊

@er-ick 9 месяцев назад

Chats with Harry and the team = my favorite videos on RU-vid!!!!! THANKS!! I NEED to make a pilgrimage to Oregon to visit the shop (and spend way more money than I should)!

@kevincrock1202 9 месяцев назад

Great show and great advice well taken thanks for your candidness!

@santoroproject8753 7 месяцев назад

This guy is so easy to listen to. Unbelievable. Even when he is asked a question I would exect a strange or weird answer from he gives a fantastic response. This guy is on point.

@EzleRS 9 месяцев назад

I love harry. I could listen to him explain things all day haha. Such a wise man with a kind heart!. Great video Dragon.

@jimmyquick1282 9 месяцев назад

What an honest gentleman. Hands down my favorite coin shop owner on RU-vid.

@SilverTiger86 9 месяцев назад

I’ve been waiting for this video. Lol. Been waiting to hear what Harry has to say about this.

@zuke5432 9 месяцев назад

I've owned businesses here in Canada. It's common to pay for "handling physical cash" on deposit. It still goes on here. I often wanted to collect $1000 in nickels and dimes just to get my money's worth LOL

@glockumollie1230 9 месяцев назад

Hey great video Dragon and thank you very much for giving the daily on the JUNK SILVER, SOVEREIGNS, ROUNDS AND BARS. WE REALLY APPRECIATE THAT INFO. ITS THE FIRST THING I THINK OF EVERY TIME YOU START A VIDEO AT HARRYS. THANKS AGAIN FRIEND.

@zuke5432 9 месяцев назад

Another great video with great insight. Thanks!

@nicoleh4780 9 месяцев назад

Harry!! I always appreciate his POV he always comes from a logical, level headed, and well thought out place instead of escalating to the doom and gloom. So refreshing.

@JohnnyTaxonomy 9 месяцев назад

Harry is such a great guy. I met him years ago and it is still the best experience I’ve ever had with a coin dealer.

@williamfender661 9 месяцев назад

I just paid for the first time in my life a $6 fee on a checking account that I have had for 24 years. The banks are going after everyone they can to take other people's money. The financial system in this country is getting out of control.

@theboringchannel2027 9 месяцев назад

if you have a decent balance, every bank offers free checking. costs banks money to maintain your account, if your deposit amount is low, you pay a fee to offset this cost and provide them a profit for the service. Can always switch to another bank.

@williamfender661 9 месяцев назад

@theboringchannel2027 The point is I have never had to worry about that. Now I have to. It just seems like every bank, every company, and every government has to nickel and dime the crap out of everybody. Eventually, there won't be anything left.

@theboringchannel2027 9 месяцев назад

@@williamfender661 times change. think about all the things that are different today, than 30 years ago. 30 years ago TV was free, you pay today.

@tjmmcd1 9 месяцев назад

Right, yet Harry is actually PROMOTING and DEFENDING the fact that banks have a RIGHT to charge us to DEPOSIT money into our bank accounts.

@lilPerc30 9 месяцев назад

In Canada if you have at least 4000 in your account you dont pay a monthly fee at some banks.

@McMannis505 9 месяцев назад

Harry really seems like such a nice guy.

@joshuajones8455 9 месяцев назад

I worked in banking two decades ago and the attitude towards cash was still similar. Banks don't want to keep too much cash on hand not out of concern about a bank run but because of liability - they want to keep their insurance rates low and one way to do that is limit how much they could lose in the event of a robbery. Also banks generally don't want the liability of dealing with cash heavy businesses not just because of the increased risk of robbery but also cash heavy businesses require more paperwork and reporting because of various anti-money laundering laws.

@scottamcfarland 9 месяцев назад

Harry and his team are great.

@stephaniesinger1159 2 месяца назад

Always enjoy your show, good information and you are a pleasure to watch.

@SilasMarnerAuAg 9 месяцев назад

another great video. love these guys. i hope im out that way soon as i would love to stop by and help support harry and his shop

@samlevites9824 5 месяцев назад

I just subscribed to your channel because of Harry! I very much enjoy watching and learning from him in your videos!

@keegan773 9 месяцев назад

You are not alone, banks seem to even hate their customers.🇬🇧 I went into mine to buy €50 and was told that I had to buy a minimum of €200. I went to the travel agent and bought €50. No problem. On another occasion I went into my bank to open a savings account only to be told I had to go home and open one on line. Needless to say I was not to happy , went home and phoned their complaints dept who opened the account for me. They won’t be happy until all of the branches are shut and all the ATM’s are removed to force us into a cashless society while increasing their profits at the same time.

@bujmoose3992 9 месяцев назад

Maybe cash transaction heavy business should form some sort of Credit Union, where they actually own a share of the financial institution.

@joshuagibson2520 9 месяцев назад

Good idea. They will literally do away with physical money eventually though. Its coming. Make no mistake.

@jaya.0069 9 месяцев назад

Great idea!

@loomsmcgooms824 9 месяцев назад

Wonderful idea! You would need some type association for the field of membership.

@togowack 9 месяцев назад

Wonder when the majority will discover crypto and see it was better than cash and banks all along.

@joshuagibson2520 9 месяцев назад

@@togowack that's all well and good if you have electricity. I can trade with cash, gold, or silver.

@MarcoEmeryLinden 9 месяцев назад

Harry is a class act.

@Dave_9547 9 месяцев назад

Harry is a very reasoned person when he talks about the cash issue. Banks have been changing their procedures on cash for some time, but it is only now becoming more apparent to us here in the USA. A few years back when there was a financial crisis in Europe, banks started charging customers a small percentage for parking money in money market accounts. The simple answer was that they had too much cash on hand and were restricted in what they could do with it. Cash is becoming inconvenient and takes employees to handle it, which Harry discusses. My banks main branch in a city of 100,000 people now only has two tellers normally. This is in an office with six teller windows that at one time were all staffed. The offices once occupied by financial advisors are only used by appointment. Covid put the nail in the coffin so to speak with people working from home and it is unlikely to go back to the good old days. Cash is on the way out for many reasons, some of them not good, but I doubt there is anything we can do to stop it. The best we can do is put the correct people in State and Federal offices and trust them to do the right thing, instead of restrict what we can buy.

@SHOCKWAVEDAVE 9 месяцев назад

Learn a lot on your content. Harry is a classy smart guy. Great shop. Subbed. Thanks!

@lindab2062 9 месяцев назад

Really enjoy these videos. Thank you!!!

@johnlowell5905 9 месяцев назад

This is crazy! I was at Harry's an hour before this video was posted and thought about mentioning this topic. I was too busy joking about them all being RU-vid stars.

@MrTruckerf 9 месяцев назад

Well, I do like to hear what Harry has to say. I respect the man for his knowledge and honesty.

@jaicehough6184 9 месяцев назад

Brought my first Silver and absolutely stunned by it thanks Harry and Dragons for the great videos

@wantsome-zs5sq 9 месяцев назад

LOL If you establish a nice hoard of metals Good luck selling it if you need to.

@stevejava4336 9 месяцев назад

Good video. You shed light on some important questions.

@Link7029 9 месяцев назад

So glad I live not far away from Harry's Coin Store. I love the place!

@pkmblcknwht 9 месяцев назад

Waiting to get your own money is mind blowing.

@rzbkfan190 9 месяцев назад

Interesting video. Answered some questions for me and gave me a different way to see this.

@r.e.b8395 9 месяцев назад

I think if there is a back door code it's no longer a safe it's just a lock box

@aussiegirl6738 9 месяцев назад

Great to hear Harry’s opinion

@shadowsmirk 9 месяцев назад

What a nice and reasonable man. I don't use coin shops or have coins, so I'm not sure why I clicked on this video; but he seems like a great guy to talk with.

@blegend9351 9 месяцев назад

I enjoy listening to intelligent people having serious conversations.

@RaspingPompano2 9 месяцев назад

His thoughts on coin shop banking makes sense and I would’ve never thought of that! And he’s correct in saying he agrees with the fee’s because the bank have to make something or it just doesn’t make sense for them to keep the accounts open.

@timm8220 9 месяцев назад

It's partially about them covering their costs but it's also partly because they want to disincentivize people from doing business in large amounts of cash because it can raise the risk profile of the bank which causes the amount they pay in insurance premiums to the FDIC to increase which is the real cost to the banks since it's a % of their total deposits.

@nelsongsousa37 6 месяцев назад

This is such a great channel. Makes me want to see Harry and associates but I’m stuck in Massachusetts

@privateuser9303 9 месяцев назад

Love hearing from harry thanks SD

@240dc 9 месяцев назад

Love the videos; wish I had a great coin shop like Harry's near me.

@mercurialmagictrees 9 месяцев назад

8:40 great perspective Harry. Thanks for sharing. I figured it was likely due profit margins and hassle for the bank. However I do think it is bad publicity for the bank and it may hinder their business.

@conrad4667 9 месяцев назад

Looks like cash needs to be stored and considered as inventory.

@KirkFickert 9 месяцев назад

Not in a world of civil forfeiture...

@RaithUK 9 месяцев назад

Interesting stuff guys, keep it up.

@theHDP 9 месяцев назад

Love the Harry's ad spot at the beginning. Lol looking at the comments I don't think your viewers understand how much banks hate cash.

@BlaubartMT 9 месяцев назад

They don't hate it per se, it's just business. When I deposit cash and then write a check, the bank has to send money, either electronically or physically, to the Federal Reserve to cover that check. Not everything is electronic, so eventually, they'll have to send physical money. When they do, the armored car companies charge them a fee which is typically a combination of weight and value. Send a lot of pennies, pay a lot of money percentage wise. Send a lot a 100's, pay a lot of money due to the liability involved. What I do believe though, is with the current interest rates, they should be able to earn money from deposits and not have to charge money for cash transactions. I had an account at US Bank that was charging me cash deposit fees, so I switched banks to one that doesn't charge any such fees, and has lower money transfer fees too.

@iamgabriel5823 9 месяцев назад

My auto mechanic also informs that the bank charges him for cash deposits. It's just one more way for big brother to track our activities on the way to a total digital economy.

@Rambo1776 9 месяцев назад

Harry seems like a really nice down to earth guy. I really like his crew of peeps. If Harry was near me I think I would make him my dealer.

@R3LI2UI 7 месяцев назад

It is specific to cash-heavy account. i used to own a business that was also cash heavy; same issue. I also agree with Harry on CBDCs. A lot of hype over nothing; central banks have been digital for decades. CBDCs are just the process being moved out from central to local banks...only really affects banking system (my opinion). (I need to pop up there sometime to meet Harry and crew since he's in my neck of the woods [~1.5 hrs away]. Nice post guys!)

@josephwilliamcosta 9 дней назад

love this guy. very real.

@veritasfiles 9 месяцев назад

No one should be buying Liberty Safe from here on out...PERIOD! You're fortunate to have Harry to bounce things off of. So many people, including myself, might be too quick to reflexively assume an anti-coin shop or anti-cash type of attitude from banks, when that might not always be the issue. It's useful to hear more moderate and well thought out points of view that can serve as a corrective for those of us who are sometimes too quick to leap to certain assumptions consistent with our own prior views.

@RobertLee-wi5kc 9 месяцев назад

Would the owner prefer the police to con in with blow torch? Once the court order is signed kiss it goodbye. At least now he still has a safe to use.

@Paul-vf2wl 9 месяцев назад

It seems unlikely that they are the only manufacturers that do this

@jeremyt5399 9 месяцев назад

I’ve been a casual viewer for about a month now, but you can let Harry know that he earned you a subscription by doubting if only him and Brandon could carry an audience. They can!

@tjmmcd1 9 месяцев назад

Brandon was the man who won a stock car race and KNEW DARNED WELL that the croud was chanting, "EFF YOU BIDEN"..not... "Way to go Brandon", but,he pretended and acknowledged to the reporter that the crowd was praising him, for winning the race. BRANDON, is a total SELLOUT!!!

@floxy20 9 месяцев назад

???

@AccumulationNation1 4 месяца назад

Some small Canadian jewelery companies are being de-banked without explanantion. Told they have a week to close their accounts and move along. Appreciate Harry's perspective.

@willybird2517 9 месяцев назад

Great coin shop, great team!

@mane3763 9 месяцев назад

I have relationships in the form of loans I get then pay off and I have a small line of credit and a few other services, I don't own a business but I do pay myself a $1000 weekly allowance in cash and never have a problem with cash. For me, I was informed its person to person transactions, for the coinshops, I suspect they are triggering a software alert that is not person to person transactions, thats way the bank employees can't do anything about. It's unfortunate cause coinshops are a legitimate business. Great videos and topic!

@jamesodell3064 9 месяцев назад

Another reason banks might close accounts that have a lot of cash deposits and withdrawals are the money laundering laws. The banks want to be very careful not to violate those laws since the penalties are stiff. They would rather chase away legitimate customers then take that risk.

@omgpickle 9 месяцев назад

The problem then is those laws that shouldn't exist.

@jimblack5153 7 месяцев назад

Old Norm MacDonald Joke: "Ya know I went to the bank the other day to make a deposit into my account. I handed the teller the the deposit slip and the checks, and she then asked me for ID. I said...I'm making a deposit, what do you need my ID for? She said that's bank policy. So I asked her 'You mean people are trying to put money in my account...and you're stopping them?" 😄

@sportclay1 9 месяцев назад

The safest way to prevent the safe companies from giving out a master / backdoor code is a mechanical /analog lock. That being said , if the law enforcement agency has a warrant they will get entry into the safe by any means. Liberty has done this thousands of times I suspect without ever actually seeing a warrant . Ask any locksmith or safe technician what they have to repair more of, mechanical or digital locks. They usually have boxes of bad electronic locks.

@freegender930 9 месяцев назад

Im not in to gold im not in to silver but this guy friendly service makes me want to buy good job

@scottamcfarland 9 месяцев назад

These are my favorite episodes

@brandonjuber1586 4 месяца назад

I worked at one of the large banks and I do not remember the exact numbers, but for illustrative purposes it was something like ..... It costs a bank $1.25 to process your check deposit with a teller. It costs them $0.65 to accept your deposit at an ATM. It cost them $0.25 to process an electronic deposit. There was a large push to move habits to online which even included making in person bank visits inconvenient with long lines and bombarding people with new products.

@philippesauvie639 9 месяцев назад

Imagine that… Money in a bank! Imagine putting your money in the bank in a “savings”account, And they put a clause in there that if you don’t have enough money in your “savings” account they charge you a monthly fee of eight dollars and hope that you don’t see it. Oh there’s way more to this topic!

@bigo2032 9 месяцев назад

My local credit union, Used to be called the teachers credit union, now it’s something else, got rid of the tellers, they now have small offices, got rid of their drive up clerks, it’s now done by video screen from home office, Keep Stackin bro

@krisspkriss 9 месяцев назад

I really like your replies. Intelligent, well thought out, and shows an acumen for the theory of mind of others. I would like to point out one thing, that you probably already thought of and did a risk/reward analysis on. You can limit your frictional costs from deposits/withdrawals on businesses that do a lot of cash-in/cash-out transactions by having a cash safe that covers the day to day fluctuations in money on hand. If you have $200,000 in coins, how much more risk is holding $20k in cash? Insurance company might say a lot more risk, or maybe there is a way around that too.

@JJRfromNYC 9 месяцев назад

What do you know about the yearly FUN show held in Florida? Any good? I love your videos. Keep it up. ☮️

@partyintheusa2951 9 месяцев назад

Great job keep it up

@daylan233 9 месяцев назад

As somebody who led a teller department for several years at multiple branches, I can confirm that credit unions, at least do not keep as much cash on hand, because it costs money for transportation, insurance, and ordering reasons. Also, it reduces the risk and liability of it being on hand, in case of theft, and therefore protects the staff in a way for not painting themselves as such a huge target. If you’re afraid of AI tellers, then your inverse of news because here in Kansas, at least we have an operation that provides tiller services in place of a “warm body” teller, but it is in the package of an ATM machine: the teller is just offsite at another location.

@jasjas-rm9kc 9 месяцев назад

One time I sold some coins to a coin shop and asked for a check. The check was written on a small bank in the same city as my big bank branch. It wasn’t a huge amount of money. Less that $20k. Anyway, the bank placed a hold on the check for two weeks. Their excuse was that, based on available information, the check was not likely to clear. Something like that. Of course, local checks don’t take that long to clear. Obviously, the bank was just giving customers of the coin shop a hard time. And of course, the check cleared.

@samlevites9824 5 месяцев назад

I’m curious, why did you prefer to receive a check vs. cash in hand type of transaction. I’m new to the precious metal collection and I’m curious as what is benefit in receiving a check and waiting 2 weeks vs money in hand (assuming receiving cash wash an option the shop offered you, but you asked for a check)

@jasjas-rm9kc 5 месяцев назад

@@samlevites9824 I didn’t want to have to deposit more than $10k into my bank. I wasn’t in immediate need of the money, so I figured a hold on the check would be ok. It never occurred to me that the bank might put a two week hold on a local bank’s check.

@samlevites9824 5 месяцев назад

@@jasjas-rm9kc interesting! Thank you for answering my question. I’m assuming, if you made money from this transaction, then you would likely have to report the income since you received the money via check? Not that you wouldn’t have reported any profit if this was a cash only transaction. I’m just saying some people probably won’t report any profit made when selling their coins and likely probably prefer a cash transaction probably for this reason, but then like you said, what would you do with the cash since depositing large amount of cash into bank raises alarms.

@brennelement6451 Месяц назад

For anyone who isn't aware, anytime someone writes you a check, you can always go to THEIR bank and cash it (you don't need an account there yourself). My mind was blown when I first learned this, and I've done it several times when it's convenient. No need to wait longer for the check to clear, if the check writer's bank is not out of your way.

@jasjas-rm9kc Месяц назад

@@brennelement6451 Even that might not always work, depending. One of my friends has a law firm and had a large check to cash to pay a client who needed the cash that day for another transaction. Anyway, he went to the bank with a $35,000 check and asked for cash. They told him no, at first, but he finally got the money after a heated conversation with the bank manager. I once had a similar situation, years ago. I went with a large check to the same bank, but to a different branch from where the account was opened. I had no choice but to go to the other branch. The moral of the story: banks don't like to part with cash.

@danielj3010 9 месяцев назад

Harry is crushing.

@FreedomKat 9 месяцев назад

When you said it was just with him 1 on 1 I was like.. I hope hes packing.. Then his buddy shows up next to him with an arm!!! Awesome!! Gotta stay safe!

@MrTruckerf 9 месяцев назад

I was just wondering what they did for security, and out steps a guard. Nobody wants a shootout, but honest businessmen who deal in cash and metals have to be prepared.

@donaldstedman5423 9 месяцев назад

This coin shop guy hes being nice but he really knows deep down what's going on...

@doughboy15237 9 месяцев назад

He knows that banks are private businesses that are profit driven?

@alanl.1379 5 месяцев назад

At least he gives answers he believes in vs. the trend of diving into conspiracies that seem to be very popular on some other silver/coin channels.

@NA-me6sh 26 дней назад

conspiracies or truth? You'll find out in the end

@0311matt 9 месяцев назад

good insight

@thepman319 9 месяцев назад

what the hell... That is not right at all. How do they keep getting away with this. Frustrating. Love your videos Dragons, especially at Harry's. Very enjoyable and Knowledgeable. Thank you from Canada.

@usmanmanni786 9 месяцев назад

Cause they ain't creating new debt. Banks are weird now. It is like they are paid to be unconstitutional.

@curlymaplebandit3107 9 месяцев назад

They get away with it because everyone stands around asking why isn’t anyone doing anything? There isn’t anyone coming to save us. Either stand up or be cut down.

@mercurialmagictrees 9 месяцев назад

1:30 I really like the 1 1/2 oz coins nice animal designs and the thickness is cool.

@yokaibyte2133 9 месяцев назад

The Canadian coins are normally in a plastic case with a case to hold the coin. I grew up receiving one or two every year from my father. He sold them on me.

@georgewashington938 9 месяцев назад

another cost angle may be the bank complying with anti-money laundering laws. handling cash increases their compliance workload and exposure to fines and penalties. They probably factor in these costs when evaluating accounts. I worked at commercial banks and the federal reserve and EVERYBODY has to take money laundering classes even if you have nothing to do with transactions (for example, admin assistants and computer support people)

@4metoknow 20 дней назад

great video great context question: should bullion owners purchase insurance?

@wilfredprins9718 9 месяцев назад

in holland the same paying to deposit money, even from a childrens piggy bank on a childrens savings account they charge you money. but also when a shop wants to get cash money to use as change for customers, you need to pay to get cash.

@FL5_OGryan405 Месяц назад

Cracks me up when he calls you silver dragons. He’s seems like a really cool Guy. Super Approachable. Unlike a lot of the old timey coin dealers in my area.

@arthurskim7898 9 месяцев назад

I like Harry as a person. A straight shooter. Bravo Zulu

@willisshu7843 9 месяцев назад

I saw Armando and Richard at the Long Beach Coin Expo!!!!!. They were great. They gave a Harry's Coin shop business card. Got a picture with them too!!!!

@williambranch4283 9 месяцев назад

Went to the LBCE with my dad, first time in 1965.

@willisshu7843 9 месяцев назад

Adrian and Richard, not Armando (sorry)

@8rlx0 9 месяцев назад

My guy starts talking about AI bankers, then remembers about ATMs... lol

@locolunch 9 месяцев назад

Gotta love the fractional banking system.

@scottrichardson7195 9 месяцев назад

The Liberty Safe co has that backdoor code so that it can be reset if the owner loses the combo or the safe changes hands and the combo is not known. I own a 2nd hand Liberty safe and the local Liberty Safe Rep came out and reset the combo to the factory default and I set it to my own after.

@libertyjones1451 9 месяцев назад

I got a few AU Mercury Dimes in and they are beautiful junk indeed.

@jamesd4013 9 месяцев назад

Great video

@Rmercer911 9 месяцев назад

As a small business owner who deals in cash the 20k deposit per month is pretty competitive. When I was looking for a bank I saw lower limits and very high fees after limit.

@mauriceorayii2964 9 месяцев назад

In the short run, fiat is extremely important, and we need to keep it available... which means out of banks and into safer locations.

@brianerrickson6584 9 месяцев назад

I work for a bank (east coast based, so not familiar with west coast banking regulations) and a lot of this information is factual. Banks are "assessed" on how much cash they should have on hand every day. Therefore, most banks don't have hundreds of thousands of dollars on hand at any given time. That explains why Harry has to place an order for a large withdrawal. And Harry's type of business is considered a "high risk" business which most likely factors in for the high fees. I don't necessarily agree with that but it is the regulation. Any transaction involving $10,000 in cash (deposit/withdrawal) requires a CTR (currency transaction report). Although every bank has their own regulation in which they do their own report, usually less than the CTR limit. Harry is right, with the liability of employees and miscalculations of cash can cause an issue for banks so it does increase expenses, however the increased "armored car service" i find hard to believe unless it's a local/smaller bank.

@johnpglackin345 9 месяцев назад

Those regulations should be considered unconditional. It looks like banking has now become more of a liability.

@SantasGoldfish 9 месяцев назад

So as a former bank teller… the point about ordering cash and a wait of 3 days does make sense, in some regards. You would think after obtaining this particular customer, you would ask for an increase of the back stock for cash from the feds. Most people don’t know but the bank you go to, orders cash from the Fed’s and then also ships them cash when over their “suggested” reserves. We would hand count 200k every week to ship out and receive 150k in other denominations like 5s, 10s coins for change.. whatever and ship out the excess notes. But as a branch manager you would assume they would take into account their new customer and change their shipments accordingly

@emperorwang0861 7 месяцев назад

Harry needs his own channel!

@brennelement6451 Месяц назад

I've always kept a month's worth of cash at home for preparedness (power outages, card network going down, or emergency bank closures like on 9/11). It's also handy for large gun or coin purchases on a weekend. But considering the direction banks seem to be going, I think I'll bump it up to 2 months' worth. While many coin dealers' issues with banks may be due to simple profit motives, looking at places like Europe and Canada where strict anti-cash restrictions have been implemented makes me very concerned for the near future in the US.

@scottc287 9 месяцев назад

The Liberty Safe issue is interesting because it opens the door to problems from a disgruntled Liberty employee with "the" code or a list of codes suddenly for sale to whomever is interested in buying.