Is it me or are banks

QuarterCollector

I'm finding it harder to get rolled coins from local banks. Most tellers stair blankly or start asking questions when I ask for $100 in half dollars or other denominations. I was at my local TD bank today and when I asked to exchange $100 bill for $100 in rolled nickels I was met with hostility. The teller asked if I had a business that required change. When I stated that I did not she advised me that they save their rolled coins for businesses. Is this common practice?

OnlyGoldIsMoney

Fortunately I don't experience that nonsense. My bank just never seems to have half dollars available. If you have accounts at the bank in question you can talk to the bank manager. Since I live in a small community I would just ask to see the Bank President. That will probably put an end to the attitude your experienced.

19Lyds

Banks have to pay for the transportation of rolled coinage and some like to keep those costs to an absolute minimum. If they can discourage a customer from ordering rolled coins, they will.

Other banks have tellers which are just rude, power hungry individuals. They are always in a rotten mood and will do absolutely nothing for you as a customer which might require them to do something outside of their normal routines.

Had the teller responded to me that way, I would have asked for the Bank Manager. If I had been further queried on why I wanted them and whether or not I had a business that needed these coins, I would have responded yes, I do have a business in that I search for high grade coins or variety coins, slab them and then sell them to other coin collectors for considerable profit.

I am not encouraging you to be rude or hostile to a bank teller but by all means let them know what it is you want the coins for. Most tellers will actually defrost a bit if you are just honest with them. They might even set aside special coins for you!

keepdachange

My bank is great in fact they order me $2000.00 worth of halves each week

19Lyds

<< <i>My bank is great in fact they order me $2000.00 worth of halves each week >>



I have found that ordering half dollar boxes is the easy part.

Getting rid of them is the tough part.

SUMORADA

Last year when we were actively searching Pres. dollars (over 200,000 in the Adams dollars alone) we never returned a single coin to the banks that were getting them for us, we deposited them in the banks that would not get them for us......it works, we still do it.

Dan50

<< <i>we deposited them in the banks that would not get them for us.. >>


Yah hoo, I like that little bit of revenge. I will soon have $1750.00 in dimes due for return, look out Bank Of America I'mmmmm back..

Silverstate

<< <i>Last year when we were actively searching Pres. dollars (over 200,000 in the Adams dollars alone) we never returned a single coin to the banks that were getting them for us, we deposited them in the banks that would not get them for us......it works, we still do it. >>



This is exactly how I do it as well.
Never return coins to the HELPING bank.

The other bank asked why I brought so much coin in...

I explained that If you got me more coin, then I won't return any to you!

eCoinquest

Guys, this is really great. lol Im feeling enlightened. Going to have to give it a try.

keepdachange

<< <i>

<< <i>My bank is great in fact they order me $2000.00 worth of halves each week >>



I have found that ordering half dollar boxes is the easy part.

Getting rid of them is the tough part. >>



I opened up another account at a credit union that has a free coin counter in the lobby. takes about 5 minutes to get rid of $1000.00 worth of halves and no one raises an eyebrow.

Never return the coins to the bank that orders them or it will be the last time they help you out!

eCoinquest

So I assume the goal is to find silver halves? Or can you actually find high grade specimens to slab?

konsole

oh all the banks around here will question anything more then a couple rolls of coins. Sure I can go in and ask for a few rolls of pennies or a couple rolls of quarters but anything more and they give you the bad look and or ask you to open an account. I even had to open an account to trade 20 half dollars the teller had for a $10 bill. They seem to be more willing to trade bills maybe because they have plenty of bills on hand. I was amazed when I first started searching banks how none of them carried any half dollars except for a handful that people brought in during the day. Its such a downer to collecting when you get such resistance from the banks. I guarantee the banks are much more lenient down south. Instead of walking into the bank thinking that this is gonna be fun, trade for a bunch of rolled coins and then go home and see what you can fine, it ends up being a nervous situation of "oh I hope they dont give me an attitude".

scottgardener

You can tell them that it's for a money laundering service for mob members who are unclear of the concept, wanting coins to put into laundry machines. Or, better yet, you can say you're trying to get the stuffed toy out of a crane game, and it's really, really hard.

thatoneguy

My local banks never give me rolls

IrishMike

I've explained this in threads on the coin forum, but here is how most banks operate with coinage. First cash and coin that sit around in the vault or teller drawer's is a nonearning asset for the bank. They make zero on it as it is not invested. Coin is kept around to supply merchants who still have a need for it and for handling walk up transactions. Demand over the years has dwindled as mom and pop shops have disappeared and as more and more sales transactions are plastic or checks.

There is no reason to keep it sitting around, as weekly it gets rolled and shipped back to the an area bank that has agreed to keep coin in the vault and deliver to other banks as they need it. The receiving banks pay a fee for this service as the Brinks truck shows up weekly with the cash needs and coinage needs.

If you do pick up rolls then you are most likely picking up the recycled stuff from all the banks in the area, which means they get processed through a counting machine and handled numerous times. Ask your local bank where they order their cash and coin through. Then set up an account their as you are more likely to get rolls and more likely to get fresher coinage shipped to them directly from the Federal Reserve.

Fortunately coinstar now gets most of the bulk coins rather than bank branches as it is a costly exercise to count, roll and carry someones junk coins that have been sitting around in you know what for how long.

garsmith

So wear a pizza hut uniform when you go in to ask for rolled coins

Silverstate

<< <i>you can say you're trying to get the stuffed toy out of a crane game, and it's really, really hard. >>

golfer72

Just remember Bank Employees will soon all be govt employees so it will not get any better