Gold coin!

penny2many

A woman called the bank on Wed. wanting to sell a gold coin so I said yes we buy them back thinking she meant a president or Sac. I asked how many she had and she said just one. I told her we will trade paper money for the dollar coin and she said okay and hung up. I got to thinking why would someone drive out in that weather to get a paper dollar for a president coin so I told the girl working with me I bet she had a real gold coin to sell. I had not seen anything about the market since we didn't have power for a few days but when she called back I asked her to tell me what was on the coin and it was 1 oz gold St gur something she said. I told her banks do not deal in that kind of coin but she needed to call a dealer if she could find one open. She wanted to know why banks do not buy that kind of coins and I told her because the price of gold changes from time to time and so we do not keep up with that and also it is not consided legal tender as far as banks like ours is concerned. We are small town.She acted mad and I was thinking I should have her come by to take a look but then I don't know enough about them and it could be a fake anyway or stolen. She said she would look in the phone book to find a dealer. Now I am wondering what she really had. Sure would have liked to take a look but I was not buying anyway so I was not going to waste her time.

gecko109

First of all, old U.S. gold coins and even modern bullion coins ARE legal tender as far as ANY bank is concerned. If a person wants to deposit $50 into their savings account via a 1oz U.S. gold eagle, and insists on depositing it, you as a licensed bank MUST accept it.

Second, neither the St. Gaudens double eagle, nor the $50 AGE have anything on them with "ST". This woman either had a copy of a coin, a privately issued medal or round, or was pulling your leg.