When the bank turns you down...

[mvSWAT]

Okay so maybe my mistake was in telling the teller that some of my coins were dirty.
I took $132 in rolled coins to the bank to deposit them the other day, I tried to keep those that didn't clean real well seperated and marked on the coin wrapper as such, the teller opened a roll to see them and said that she couldn't accept them. I had cleaned them but you know how some coins just don't come out that great and you get those nasty zink pennies on top of that. I asked if they had a program like they do with bills where they take them out of circulation but she said they didn't do that with coins...but that it would be fine for me to drop them in a coinstar machine. It just burns me to know that my legal tender (coinage) isn't legal in a larger quantity at ...of all places my local bank. It just makes me realize that I'll have to plan out the use of my (less desirable) found coins from here on out, passing them out in small quantities. Just thought I'd vent a little. Happy Hunting. Dan

 

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[hollowpointred]

so let me get this straight..........she wont accept them at the window, but she will accept them from a coinstar machine. :P what an idiot! they all get rolled up and put back into circulation..........whats the friggin differance?!

 

[bakergeol]

Well if you want to vent a little about our government. Put them in the stamp machines at the Post Office.


George

 

[FredMaxwell]

Damned coinstar takes nearly 10%
Of all things BANK refusing to accept United States Money
It aint bad enought that they give you ?% on deposited money, right
Also they loan out ten to forty dollars on your one

So say you deposit $1000
Tomorrow they make a loan of anywhere from $10,000 - $40,000 on your $1000
So not only are they loaning 10-40 times what you put in but they're charging 5%-29% interest on it while giving you ?% on 1/10th to 1/40th of what they loaning against your money

 

[FredMaxwell]

While I'm ranting I might mention that the FEDERAL RESERVE IS A PRIVATELY OWNED CORPORATION

 

[TORRERO]

Another angle....
I took about 3 years worth of coins to my Credit Union, all rolled but all really dirty in the rolls,
they requare that the coins be rolled
and on the rolls have your acct # so if there is any problem they can find you...
I did not think I was going to have trouble, because 2 years earlier I had unlaoded $600 in coins with
them the same way.... no problem..
Well, they send their coins to "Bank of Amarica" to be procesesd and I dropped of about $540
in nickels dimes and Quarters, about $300 in quarters....
and thought that was the last of it....
a month later I got a call from the credit union, and they were returning my coins because
BOA would not except them. they had taken them out of the rolls and put them in cloth bags.
Except for 3 rolls of Quarters, everthing was Nickels and Dimes....
I re-rolled everything to make sure they had returned the correct amount (they docked my acct for the difference returned $250)
and discovered in the end that they had returned more than they docked my acct for.
Now I spend the rolls wherever I can and put the coins in vending machines and so forth..
This way I discovered that many fast food restuarnts have a scale in the managers office and
if the coins in the roll don't weigh right, then they open the roll and count them out by hand..
Its been embarresing some times but they have always taken the coins, albeit they gave me
funny looks...

 

[ashleen]

I was a bank teller for a spell. I used to feel soooo bad for the people that would come in with their coins all nicely rolled. At that time, Bank of NH DID NOT accept rolled coins. The tellers had to unwrap every roll, and dump them into the coin machine. If the coin machine
spit out' or didn't accept a crappy coin, foreign; we gave them back to the customer.
Of course, we ALL had a slot in our cash drawer for 'mutilated' money; but that was paper only. Used to get sick of hanging on to the mutilated stuff; they only seemed to collect it once a year.
But, the looks on the customers' faces, when we'd rip 'em open,,,,,,you just know they were thinking about all the time they had wasted rolling...
This will kill ya............
Every once in a while when the head teller and opening teller open the bank, there will be a bank auditor waiting for them. They will stick with the opening teller ALL DAY LONG! Well, lucky me one day.......No problem, just do everything by the book, hide the little 'kitty' that we ALL used to balance our drawers; ect....
Well, this particular day an older man came in with three 2 lb coffee cans. When I took the lids off, I damn near fainted!!!!!! two were full of halves, and the other full of dollars!!!!!!!!!!!!!!!!!! I got the head teller's eye,(she was as much into coins as I), showed her,,,then we BOTH wanted to cry! There was NO WAY we could get them with the auditors up our butts! So we ran them thru the machine, bell went off 'cuz both the 1/2 and the dollar bags were FULL!!!!! When that happens, the machine stops, you have to change the bags, fed seal up the full ones.....ALL the TIME with the auditors watching!!!!!!!!! (them guys have NO sense of humor,( think they're 1/2 archies) what a SOB-ing day that was!!!!!!!! SOOOOOOOOOOOOOOO close, yet out of reach
HH

 

[bk]

I just took a bank bag full of dug clad into my bank yesterday. I told the teller that the coins were "dark" but clean. I put all of them in a rock tumbler first. I also sorted out the damaged ones because I didn't want to be the one to jam up the machine.
"Not a problem" she said, "We will take them as long as they are not wet".
In less than 5 minutes I had $124.71. Only one dime wouldn't go through the counter.

 

[littlehugger]

I have various methods for dealing with this.
First, I have always been in the habit of dumping my change at the end of each day. It adds up after awhile.
Second, I mix in most of the found coins with this change.
Recently, I took a load of change to the babk. It was $92 total, about $13 in found money.
I take it loose, to a bank with a coin counting machine. As long as its clean, and not bent or otherwise likely to jam the machine, its acceptable.
They tend to be fussy about the really dark coins. If you take a sack of found coins, they might refuse them, just on looks alone. Thats why I mix.
I also have a coin tumbler for cleaning those nasty zinc cents. I got it for free, and use cheap cleaner, such as gravel, as its not cost effective to clean pennies unless you have thousands or tens of thusands
You can also clean them by putting them in a jar with vinegar and salt, and shake vigorously for a short time. But be careful, and only use this method for clad worth only face value, as it actually eats at the coins. Cheap though.
Even these come out funny looking, so its always best to mix them with "real" change.
Hugger

 

[RON (PA)]

I take my rolled coins to the bank in small lots (usually less than $30.00) and just deposit them. I try to clean the coins before I roll them and make sure that there is a new shiny coin at the visible end of the roll. Have never been turned down. Just once a new teller asked me three times in 5 minutes if I rolled them myself because "we give them to other customers". To clean them I usually wipe them with some rubbing alcohol or with BAM/Kaboom when I have a handful to clean.
I roll my own with a small desk top sorter. I stay away from Coinstar because of the 8 - 10% that they keep.
Try taking the rolls to the bank in smaller lots. Smaller lots may not put up "red flags" to the teller and it may go smoother. Just a thought.

Hope it helps,

RON(PA)

 

[dave-enc]

MV I know it can be frustrating we tumble our dirty clad with steel wool, then roll and deposit bout a hundred dollars at a time. we do use coinstar at grocery store for the pennies, now the really nasty zincs usually just get pitched as the can actually jam the coin star machine.
hh
dave+bobbie

 

[JW]

From my understanding it is illegal for banks to not take US currency, for bills I know it is 50% of the whole bill. Call the FBI on their dumb a$$e$. Banks suck and shouldn't exist, they make money off our money, if I deposit $1000 cash they keep it for 24hours before I can withdraw it out of my account (i'm talking 10, $100 bills)!!!!!!! That is criminal in my book. If they will not take US currency, inform them that it is unlawful and take you bussiness elsewhere. I personally wouldn't tell them anything about the condition of the coins. It shouldn't matter, it is still a coin and therefore valid currency, right, we find them not make them...

Would the same bank turn down a Morgan silver dollar for a dollar bill?
I bought a 100 silver dimes from a nice man at a bank while he was at the teller window, the bank couldn't have cared less....He had a milkcrate full of coins in change bags made of plastic from the bank. I guess now in some banks you just count out the change and put the amount on the bag and give it to the teller. And to think all these years I have been rolling quantities of change.....

HH

JW

 

[suwannee pirate]

A good friend of mines wife works at a large retail store in the money counting room. The coin machine spits uot any foreign coins and all silver due to not being the right size or weight . She was told to throw out all the rejects- in the garbage! Needless to say she buys all of the silver at face value instead of throwing it in the trash. To date she has found over 200 in face value and has saved every bit of it . I mentioned that there could be some valuable ones in the collection but she only considers the scrap value of them and is saving it up to enhance their river property.