Banks

[moneyhoney]

changing the subject a little bit here...is it common knowledge that when a business or anyone for that matter, take money to bank for deposit, the bank have someone or send that money someplace to be analyzed (a poor choice of words)...hope someone can understand what I am saying...if any coins or currency is worth more than the face value, who gets the profit?...Just saying...

[TomB]

The money goes to the bank. The bank uses a coin counter for bulk change and a combination of tellers and automated bill counters for currency. The change is bagged and shipped out. The currency is given out to other customers or bundled and shipped out.

 

No doubt there are individual tellers who scan change and bills for interesting or valuable pieces, but banks don't have a standardized paradigm for examining the money to look for numismatic value.

[Crohnos01]

And if you return to a bank time after time buying rolls of half dollars, looking for 40% halts for face value, eventually the tellers figure out what you are doing and start screening them for themselves before you get there, significantly reducing your finds....if that sounds like the voice of experience, that's because it is...

[cpm9ball]

And if you return to a bank time after time buying rolls of half dollars, looking for 40% halts for face value, eventually the tellers figure out what you are doing and start screening them for themselves before you get there, significantly reducing your finds....if that sounds like the voice of experience, that's because it is...

 

This may be the case for loose coins, but I doubt that you will find too many tellers opening rolls to search for silver, especially those with crimped ends. For 2+ years, I was ordering 4-8 $500 boxes from my BoA branch every month. These boxes were only available by special request since the bank did not routinely stock half dollars.

 

Chris

[RWB]

Hmmm...I got a paradigms and a nickel in change when I paid for my Slurpee yesterday....Shifty little coins, too.

[ldhair]

Back in the days of small banks, they had a bit more time to check things out. In today's world of large banks, the teller has little time to check but there are some really sharp tellers out there with knowledge.

[moneyhoney]

I called to the local bank, thinking I could get face value for some mutiliated coins. I was told that they didnt want to mix them with their coins. So now I have to go through the trouble of sending them to the mint in Philly, is that correct? I am still wondering what difference it would make if they mixed them with their own mutilated coins..oh well a stupid move I guess

[Crohnos01]

And if you return to a bank time after time buying rolls of half dollars, looking for 40% halts for face value, eventually the tellers figure out what you are doing and start screening them for themselves before you get there, significantly reducing your finds....if that sounds like the voice of experience, that's because it is...

 

This may be the case for loose coins, but I doubt that you will find too many tellers opening rolls to search for silver, especially those with crimped ends. For 2+ years, I was ordering 4-8 $500 boxes from my BoA branch every month. These boxes were only available by special request since the bank did not routinely stock half dollars.

 

Chris

 

My bank tellers must have longer coffee breaks than yours. After I scored several rolls of 40% halves for all but two coins, I went back to the bank asking if they had any more. I ended up buying $300 worth, but as I was making the purchase, the teller told me they had already scoured them themselves. Sure enough, I only got two more coins out of $300 worth. I haven't tried ordering them in though... That might make a difference.