Prospecting for rare and/or valuable coins

This was a little extreme but it illustrates my point http://articles.latimes.com/2008/apr/01/world/fg-atm1

You should probably discuss Halacha with someone who is knowledgeable.

"There are four characteristics among people: One who says, "Mine is mine and yours is yours," that is the mark of the average person; some say that is the mark [of the people] of Sodom. [One who says,] "Mine is yours and yours is mine," [that is the mark of] an ignorant person. [He who says,] "Mine is yours and yours is yours," [that is the mark of] a godly [person]. [One who says,] "Yours is mine and mine is mine," [that is the mark of] an evil person."
- Talmud, Ethics of the Fathers, Chapter 5, Mishnah 10

 

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Coin counter error...caught!

My best experience with a coin counter was back before I had a steady relationship...loads of time and disposable income...and I'd go through boxes of half dollars.

On this particular day, I had just finished sorting through 3 boxes ($1500 face) of halves...took them to a Bank of America because US Bank had ever so politely informed me that I could no longer use their coin counter for half dollars (but I could ship it away to be counted and have it put in my account 2-3 weeks later?) In any case, I remember keeping about $40 worth of silver/good condition halves...so I had a general idea of what I should receive back.

The head teller took my coins into the back room while I patiently waited out front...then returned and told me the total was $980 (or very close to that, it's been a couple years. But it was under $1000.)

I politely told her that her count was wrong and that she needed to check it again. She sighed, rolled her eyes and headed to the back to investigate...at which time the lobby person/greeter came over and checked in to see what was happening. She came back after about two minutes (not anywhere near the amount of time it would take to check 3,000 coins) and told me that's how much was in my bag.

$20 folks...that I could live with. I wouldn't be happy, but I could live with. $500? Ha.

I told the teller that she needed to go back and actually check it this time because I knew there should be at least $1400 in there. She told me I could come back and they'd have an answer for me...and I said, "No thank you, I'll wait right here until this problem is fixed." Her and the greeter guy went into the back...

...and came out ten minutes later. Greeter guy slaps a car wash token on the counter and gives me a dirty look, "Here's what jammed up our machine" and walks off. Teller comes back out with an accurate coin count of $1450 or so. Apparently the car wash token had been jammed in there from the previous person (or who knows who) and half dollars had been shooting into the bowels of the machine.

What I didn't like was their assumption that it was MY error. Trust me...I sort through coins and pull out anything that is valuable or strange. I think I'd know better...plus, I wouldn't want to hurt their machine or cause trouble...because bringing 3 boxes of half dollars to a bank can cause dirty looks.

But I am always polite. I always offer to help carry the sacks of change for the tellers. I never become belligerent.

But for $500 you're darned sure I'll wait.

 

I hope that the young kids reading the forum understand that this is not ethical behavior. While coin buy/selling is far from an ethical business (it's all about getting the best price you can for what you sell and getting it for the less you can when you buy), but it's best to live an honest/ethical life.

If you get to much back in change, you should point it out. If you got short changed you would say something...wouldn't you?

Karma is a beeyotch ...if you try to live your live fairly...things have a way of working out in the end.

Your word is your bond in life and this type of activity only reflects poorly on the individual. Life will test us many times. Do the right thing and try not to take advantage of others.

 

Uhh, let's hear your explanation for that please.

Business 101: Sell your product for as much as you can, buy inventory/materials for the lowest price possible.

That isn't unethical, that's business.

 

It looks like you, I and too few others are swimming upstream on this issue. The "me first" attitude of many is part of why the country is in the shape it's in today.

 

Keeping extra money from an ATM is business 101??

Business 101 is "offering" someone an amount that they are "consiously *willing* to accept" or reject, even if it is a lowball offer. This is accepted practice because nobody's forcing anybody to sell what they own or accept any offer. Although I believe in some discretion. Paying a kid 25% of what a coin is worth isn't acceptable to me but I'm not in business and I don't have to live with that decision.

Then you turn the sale around by trying to sell to someone else at a later time at "hopefully" a higher price that they are "consiously willing to accept or reject".

David, I love how you nominated this thread. lol You must want everyone to read it? I agree, on a larger scale, this thinking is the downfall of this country.

 

Makes one wonder how much money in time and gas he spent to make 35 bucks and a few halves with silver in them.

As for the moral high horse, I wouldnt get into that but to say...give me a break...

Where is Rickie when you need a guy who rips off old ladies of their life savings to chime in

Daved nominated this thread for his superior ablity to climb on a high horse regarding the most minute issues.

 

I already stated that I don't think it's worth the time or effort. And I don't recall ever asking or expecting to be financially rewarded for time, effort or gas spent on pursuing a hobby, at my own free will, from any business. That is what you imply here.

Sure, in the grand scheme of things, nobody's going to lose sleep over this. But if it was morally the right thing to do, there'd be no need for people defending it.

 

What a load of BS...you have people in this thread right now railing at the evils of this mans deed...so you are mistaken when you lament that there is no honesty and people have no conscience...

Why is it when one person does something, people like you lament how the whole world has gone to crap as if people from the past didn't do the same thing...I can assure you they did...its called human nature and I would think someone who has been on this earth for more than 20 years would realize this unless they are living in a bubble.

It is so laughable to see the moral brigade get feathers ruffled over such a small, insignificant act such as not telling a bank their machine gave out a few extra dollars...then depicting it as some form of symptom of an overall declining morality...All except their own of course, they have higher morals and are beyond reproach, thus they take the chance to reproach others who do not share there superior moral code. you can be sure this will happen with every story like this...

Of course our other resident crook was Rickie who kept dollars from the old lady who was cashing them in and not telling her they were worth more than a dollar each...let not forget how evil he was made tout to be...He might as well have pushed that lady down and taken her wallet out of her purse he was so maligned...you would have thought he was Satan incarnate.

 

I didnt imply anything, I just thought it might have been more cost efficient to go about getting coins like these another way...if its what he wishes to do, more power to him...I prefer spending my time and money with the coins, not searching them out. I certainly dont make money off coins but I do spend as little time and money trying to aquire them as I can because for me its not the search I enjoy, its the coins themselves...but to each his own...I am not judging him for what he does and have done...I am not perfect nor is it my place to judge his actions from on high.

 

First, my name is spelled David.

Now, since you have called me out, let me ask you for your version of justice: If the bank, or anyone else, shorted you on a transaction by $35, or even $3, what would you do? I do hope you have the courage to answer this.

 

Its a typo fella...it happens...

courage? You are on the internet man...it doesn't take courage to say what is on my mind..you know this because it certainly doesn't take any courage to call a person you do not know or never met a thief now does it? Certainly your own deeds need not be examined in comparison either.

If I was shorted on a transaction I would immediately see what I could do to rectify the situation, this would take my own effort of course and if I wasn't aware until later and they say tough nuts...lesson learned.

this has happened to me, I was shorted, realized it later, went back to the bank, they did nothing because there was no way to prove I was shorted...lesson learned

 

Okay, just wondered where you stood on the issue.

If you're shorted you immediately try to rectify the situation.

If you're given too much you walk away praising your "good luck". :whistle:

Good for you :goof:

 

To be honest no pun intended I have a very clean and honest back ground, I was pointing out the faults we have in society today, basicly my point was people make a point of calling someone that recived 10 to 20 dollars as a mistake from a coin machine a crook. When we have people stealing millions everyday in the form of payments from their companies.
I have never recived extra cash from an ATM or a Bank for that matter, but I have had a cashier give me to much change back, and told them of their mistake. I point this out because I don't want to see someone lose their job over a mistake, but if I was ever afforded the chance to arrest a CEO for a violation I would without regret.
I am in law enforcment and I don't view someone dumping change into a coin counter that gives you back a recipt as stealing. I can't answer that question because as pointed out maybe the person that last used it was ripped off and never knew it.
Say what you want about my comment it has no effect on what I feel or say that is the great part of being an American, FREE SPEACH if there is such a thing.

 

Don't you see how wrong it is when you use other's bad behavour to justify your own? "We have people stealing millions everyday in the form of payments from their companies.", therefore it's okay for someone who "...recived 10 to 20 dollars as a mistake..." to go ahead and keep it.

I don't know what position you hold in Law Enforcement but when you say, "I can't answer that question because as pointed out maybe the person that last used it was ripped off and never knew it. I am in law enforcment and I don't view someone dumping change into a coin counter that gives you back a recipt as stealing.", you're making an unwarranted assumption that a previous user was "ripped off". You simply don't know that. And, you seem to be saying that if one person is ripped off, it's okay for the next person to be enriched. Being in law enforcement, if you observed 100 people driving 35 MPH in a 40 MPH zone, and then saw one person driving 70 MPH, would you let him pass because he was just averaging out the system?

Each action is judged on it's own merits, regardless what others are doing or have done in the past.

 

I was gambling in Atlantic City many years ago.... the dealer overpaid me $25. I gave it back. For my good deed, I proceeded to lose $100. I don't gamble anymore...

 

That is a shame. I need everyone to stop buying coins and attempt to parlay their coin budget at the craps table. Atlantic City is holding on by a thread in this economy and I need a little job security. Come on guys, roll the dice.

 

Where did I quote the keeping money from an ATM part?

Nowhere.

I quoted the part where Andrew inferred that coin dealers are unethical.

 

Actually, the proper owner was the person who used the machine before. The only way this could have happened was if a bag filled up and was changed and the machine wasn't reactivated. So, if I was running my coins through and a bag fills...a teller will come out and change the bag. If I don't hit restart...the uncounted change at the top of the machine just sits there and becomes part of the next run.

Believe it or not. The branch does not want you to give them extra money. If you walk up to a teller window and there is a $20 sitting on the ground...don't hand it to the teller, put it in your pocket. The teller doesn't want it and neither does the bank. Someone dropped it and if you give it to the teller they will have to put it in their box. When they balance at the end of the night they will be $20 over and it will look bad on paper. Bank's want to balance, they don't want to be over.

A coin machine is treated like a teller. They are logged like teller's in the bank's system. If they are over or short it creates a paperwork problem.

Being someone who worked as a bank teller and dealt with coin machines on a daily basis, trust me...you don't want "found money" to deal with.