TD Bank, Still Stealing Customers Foreign Coins

Since there is no such piece (see afantiques's reply), you do not have to keep them in mind. Sometimes people mix, say, a €2 coin and a 10 baht piece from Thailand up, knowingly or not. But that word "stealing" in the subject does not apply, neither in your case not in this one.

Christian

 

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I wouldn't know because I haven't tried to exchange a foreign coin at a bank since I was about 8 years old.
If they had sold the bags of stolen foreign coins to me the title would not change. It does not matter who they sell them to.

 

Well I guess I'm a robber then. I collected over $70 U.S. from these machines thought the reject slot. Come arrest me.

 

Here come da judge.

 

But that was only last year... : - )

 

Also most foreign exchange companies won't accept coinage.

More and more countries nowadays are striking their coins on steel or plated steel planchets and they are magnetic.

 

Part of the point of being able to dump them in a counting machine is not having to sort them.

 

For the sake of everyone and yourself, there are times when one should carefully pick their words when posting on online forum. Once it is posted, it's what's recorded on the internet. You can delete / edit it later but you cannot stop from others screen capture for evidence purposes.

Being behind a computer screen does not mean that you can get away with making a hit and run comment. If a business wants to take this a step up and take further action, everything can break loose. And yes, it has happened to numismatics forums as well.

I am certain moderators are looking at this thread and ensure that lines are not crossed.

 

So I went to the bank today...

 

8% for a non-customer is better than my credit unions or Coinstar offer.

 

So the programmer couldn't figure out how to get 8% out of a yen?

 

The harder part is probably detecting and differentiating all the various non-US coins. Exchange rates aren't exactly trivial, either.

 

For 8% I would at least try. You only have to do it once. The rest is just copy work. .

 

Not really. You have to know about the characteristics of every coin in the world, going back a number of years, and you have to keep track of when they change.

 

Wouldn't you say it would be comparable to fingerprint recognition software?

 

My bank usually throws away anything that the machine doesn't accept, but they'll gladly give it to me if I ask. I've gotten a good number of Eisenhower dollars for free, and lots of Canadian coins and Euros.

 

I don't know, but fingerprint recognition is already well into the realm of non-trivial software. I'm just saying that recognizing every coin issued in the world for the past 40 years or so, and forever into the future is not one I would relish.

 

Look at the trouble the TPG's are having, getting enough qualified World graders. NGC has had a standing job offer for them for years.

 

A couple of thoughts:

Wait, what? "No possible way"? This isn't rocket science we're talking about.

Your imagination seems quite limited. Consider these two points:

1: Minimum wage is currently $7.25/hr.
2: Lots of foreign coins sell on ebay for upwards of $7/lb.

The simple answer: pay a minimum wage employee to sell 10lb lots of foreign coins on ebay.

The same has been said about people who don't lock up their bikes when they invariably get stolen.

Yes, it's stupid, but it's still theft to take something that doesn't belong to you without permission. A sign on a machine that states the machine doesn't take foreign coins is no excuse for not returning them to their rightful owner upon rejection.

What if a person was simply taking all the coins from a donation or tip container to the bank? Should that person be required to sort through all the coins prior to taking them to the bank? Isn't that part of the reason people take such a piles of coins to the bank, so they won't have to manually sort through them?

I live somewhat close to Canada. Letting the bank machine sort through my change jar would be a good way to separate US coins from Canadian. Why on Earth should I expect to LOSE all of my Canadian change from the change I dump into their machine?

 

Presumed intent versus demonstrated criminal activity.

I'm still thinking the bank is squarely in the wrong here.