Woman cashes 14 $20 gold coins at bank

According to MSNBC news, a woman tried to spend $20 gold coins at Walmart who refused them. She took them to a bank where she cashed them for face value. The bank teller took them home and was fired. The bank is looking for the woman to give the coins back to her.

They appeared to be all Liberty Head $20 coins.

Full story at:

http://arkansasmatters.com/content/fulltext/news?cid=205551

 

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Nice to see a bank with ethical values, probably a small, local one.

 

I have to agree that it does make a nice change to hear something like that :high5:

 

Interesting interesting story story: http://www.cointalk.com/forum/t50312/.

 

I'm impressed with the bank. That's a sign of good, alert managers.

 

i agree with everyone else, that is a nice hionest back ... i am surprised there havnet been comments about how nothing illegal was done, that the woman was given her $20 for each coin as she asked. Its good most people agree she shoud have been told they were worth so much more then $20!!!

 

I agree with all the above comments - it's commendable to let people know the value of what they have. However, it seems to be relative. Lots of coin collectors have arrangements with bank tellers to save silver coins or old bank notes for them.

If a teller received a silver half dollar or a silver quarter, should they tell the customer it's worth ten times the face value?

Where do you draw the line?

 

Unreal story.

 

Crazy story, it's weird to think people would think nothing of these old coins and just cash them.

 

Unbelievable!

 

Incredible story. I agree that the bank had an ethical obligation to inform the women that the coins are worth more, but on the other hand the coins are still legal tender and at a bank (not a coin shop) are worth face value. It's a very thin line to walk and dreamer94 brings up a valid point - where is that line?

As a side note, I'd like to thank the bank for spotting my moms error and I'll claim the coins back on her bahalf. :whistle:

Cheers!

 

This reminds me of another story I read somewhere a few years ago and that took place in London, I believe, at the begining of the 20th century : a customer went to a well known bank to withdraw quite a few gold sovereigns and has been given 50 more than he ought to. He realized that when returning home and immediatly went back to the bank to let them know. The cashier was so embarassed he called for his superior, who, very professionnal, said : Errrm, I'm so sorry sir, but our cashiers don't make mistakes. If the cashier gave you those fifty sovergeign, then it means they must be yours.

Don't know if the sorry is true, but it's well worth being so.

Q

PS : I'm sure a Londonian bank manager would not speak the pigin english I write, of course

 

The person holding the Double Eagles in the photo has HUGE hands!! :goofer:

 

Some people have all the luck...

 

Looks like a womens hands or a man who didn't cut his fingernails .
rzage

 

I bet this will set a precident... Expect banks everywhere to stop letting employees buy collectible and silver coins at face value.

I can't say I would disagree with that either. I can see it from both sides of the situation, but ultimately people trust banks to manage their money and weath. It's only ethical for bank employees to inform the customer that they have coins worth more then face value, and employees should never profit from a customer's mistake.

 

My thoughts. Those eagle look rather small

 

This has all of the earmarks of an urban legend. No names, no dates, little or no details. The main thing that made me suspicious was the fact that this is a report of a Utah woman (very vague) as reported in an Arkansas Online Newspaper.

I don't believe this happened for a second. I think they are either trying to fill space, or be interesting to their reader with odd (and possibly made-up) stories.

 

The cynic in me says this story, without independent verification, is an urban legend/old wives' tale. I can't believe how anyone could be so naive as to take coins of obvious worth beyond face value to a bank to redeem at face value, especially with gold being in the news so much as it is. I also don't see how the bank could fire the employee, if the bank lost no money on the deal (provided it even happened), since no bank will redeem coins for more than face value. Also, the article does not mention an exact location, only that it "happened in Utah".

 

Here is an MSNBC video clip of the story:
http://www.msnbc.msn.com/id/21134540/vp/29970244#29956697