Has anyone had access to a bank's vault...legally?

I was talking to a banker friend of mine yesterday. He works for a local bank here that has been around since before the Civil War & I was joking about gaining access to their vaults to look for collectible currency & silver coins...we joked & left it at that or so I thought. He texted me late last night & said if I was serious he would mention it to the bank prez this morning. Obviously, my answer was an enthusiastic "heck yes!".
Well, he just called me (woke me up, in fact) & said it's a go! They have 6 branches & starting next week I'll have access to them (pending the details on security, etc).
You hear all these stories about what's contained in bank vaults; hopefully I'll have one to share!
All in all, it's a nice start to my morning.

 

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Yes I would be very interested in hearing that. I do kinda wonder about in my area with all the banks that have merged and changed names and such if they did not have to do some kind of count or audit and have anything of extra value removed? Or all sent in for a count?

 

Can I help you?

 

please do a big story about this, would love to hear about your little journey into the unknown.

 

Worked in a financial institution with folks that would participate in vault "cash counts". Common description of the experience was "filthy".

Have fun.

 

Pity your friend doesn't work at Fort Knox. I am sure there would be many interesting in that one.

 

My buddy is #3 in the bank's hierarchy and has been there for 30 years or so. He said no one has ever done this before so I'm hoping for some old, long-forgotten finds...especially at the main branch's vault!

 

Who knows? I am in Central Ky lol!

 

Given the age & "homieness" of this bank network, I'm hoping for obsoletes mainly.

 

That reminds me of my experience in the early 80's. My bank, at the time, received coin loose in bags. One of their functions was to roll and distribute the coins to the branch banks. I was working with the phone company at the time and the bank, as well as several other businesses in the building, were our clients so I got to know the bank employees fairly well.

Having nothing to lose, I asked the head teller, who I had known for a few years, if she would allow me to buy a few bags, take them home to search, roll them and deliver the rolls to the branch banks. She agreed. She even suggested that I go into the vault, get the bags I wanted and simply pay her for the ones I took as I was doing her bank a favor by saving them time, labor and delivery expenses.

When the 1982 cents came out, I could readily discern the difference in weight of the copper and the zinc cent bags. I believe the 1982 small date coppers were fetching a premium at the time. I knew how to 'work' a coin to the top of the sewn bags and spread the stitching enough to see the date. I found several bags of the 'rare date' 1982 cents, sold many rolls and still have an untouched bag remaining.

This went on for several years until I as transferred out of the area. I don't think ANY bank would allow things like that today.

Just another story to smile about in our great hobby.

 

I haven't had access to an active bank vault.

There's a science museum in the old hometown that's housed in an old bank building. That building was in use since before the Civil War. Upstairs, they've converted the "modern" vault, with its huge, impressive door, into an exhibit for minerals and fossils.

The basement is used for storage, not open to the public, and that's where the old vault is -- the one that held stuff to be protected from enemy forces. It's very different from the new one, with a much less showy door, and simple wooden shelves (most likely chestnut!) inside. (I got to see it by volunteering to go down and change light bulbs for them. It's good to be tall.)

Of course, it's entirely empty of any old coins or currency. Banks are all about rigorous accountability down to the last cent, right? They just don't leave money in dark corners.

Even if a bank has been operating as the same entity in the same building since the 1800s, I'm sure all its money holdings must get counted regularly. Across all that time, I can't imagine that there wouldn't be at least one manager aware enough to swap out gold, silver, or obsolete notes for modern money.

Would I be confident enough in these assumptions to pass up the opportunity OP describes? HA HA HA nope.

 

I once got drunk, passed out, woke up in a place with lots of armed guards, steel bars and locks, and I had to pay to get out.
Is that similar?

 

We had the opportunity here once. It was loaded with BU bags of silver halves quarters, etc. But the bank chose to hire an auction company and away it went!

The prices ended up too high for me to profit at all.

 

I was out once you said the word legally. But my favorite coin shop is actually in an old bank. He keeps all his coins in the giant vault. Never been in there, but I've heard he has some insane coins in there.

 

Got a call from two sisters several years ago. A small bank in an adjoining county had been taken over by the feds. Their late father, at one time, had been on the board of directors. They were told there was a bag in the vault with their father's name on it and they should come and get it. It was a bowling ball bag and had coins, mostly common and 90%. There was one loose uncirculated cc dollar.

In the process of evaluating estate coins for two area banks I have come across a number of national bank notes from one of the local banks. I find those of great interest because of the local connection.

 

Sounds like the most efficient way for the bank to maximize its return. Depending, of course, on how big the auction company's cut was.

 

I would also enjoy an adventure like that.

On a slightly different idea, I would love to explore a federal reserve bank vault where it's rumoured there are bags of unc Ikes!

 

I know about where a stash of gold coins are buried, over there in Kentucky.