Do Banks in India Supply Coins in Rolls?

shudson2

It's nothing for someone in the U.S. or Canada to walk into a bank and ask for a roll of quarters... do banks in India operate the same way, or do they provide coins in bags?

Sapyx

I could well be wrong, but I think rolls went out of fashion years ago everywhere except in North America.

Here in Australia, banks won't touch rolled coins - they gotta be bagged. Security companies that handle cash will roll coins for their customers that ask for them, and the Mint occasionally sells special quasi-circulating coins by the roll; those are the only rolls we see here.

As for the specific example of India, I'm given to understand that banks are notoriously anti-customer there, especially the government-owned ones. You do business with them their way, or you can leave. I'm not sure about right now, but a few years ago, such banks weren't handling coinage at all.

CollectorBob

Never seen bank-rolled coins in India ever!

And, these days, all denominations of coins have such little buying power that they are practically obsolete. All cash transactions are rounded to the nearest paper currency (up or down, depending on what denomination of notes the merchant usually has handy).

cladking

In the '90's I believe they used small plastic bags for coins in India.

This might have been a local practice though and I might have misunderstood.

pruebas

Interesting thing I remember about India is that all the bills, even new ones, have staple or pin holes. The older ones are particularly pock-marked from multiple pinnings.

And India has the oldest and most beat up bills I have ever seen--folded, soiled, holed, torn. Maybe because, as CollectorBob notes, coins are of such little value the bills get extremely heavy use.

Sylvestius

I can't speak for India but the UK does still have some coin rolls. I'm not quite sure on the availability of them but they still exist because i've seen WHSmiths workers breaking them open to put in the tills. Maybe these are newly minted coins only though? Does the mint roll them and deliver them as such? When they go back through the banks though they go in bags, certainly i've only ever used bags for loose change, never rolls.

shudson2

It's funny how the simplest of things work differently in different parts of the world. Here in Canada, you can't deposit coins in the bank UNLESS it is rolled. That said, it's been a long time since I've made a deposit of coins, but that was their standard policy for years.

Thanks for the reply guys... it kind of makes sense why my talk of buying rolls from an Indian coin seller was met with the Internet equivilent of a blank stare.

I ended up buying enough of the coins to roll them myself if I feel the need!