Here's my story: I went through $1,000 in halves a couple weeks ago and 2 days ago I gave them to my mom to cash them in at a bank. She gives them to the teller and when the teller comes back she says that earlier that day someone came in and cashed in a bunch of , quote, "old, worn out" halves. So my mom asks if she could buy them. The teller says she'll have to ask the manager, who is on break. But my mom has to get to work(she works second shift), so she leaves our phone number and heads to work. Yesterday she comes in and talks with another teller about the halves. The girl that waited on her the day before is working at a different branch. So my mom asks her if she could buy the first batch of halves that were brought in the day before. She goes to find out, and she brings back another lady. The other lady says that they are not a bank that sells coins. She said they sell them to some midwest company that sorts through them and then sells them back to other banks. But she says that a girl that works there has sold coins to customers before, but she's on vacation this week. So she gives my mom that girls phone number and says she'll be back Monday. Also she says the coins were going to be sold monday evening to that company. I suspect that there are alot of the old half dollars in there, and I really would like to go through them and get the good ones out. Right now they are all in a $500 bag waiting to go to the midwest company. Soooo, people who work at banks, what can we do? I've never before heard of such a thing as a bank that won't sell coins to customers. When my mom goes in Monday to talk to that girl that has sold coins to customers, what should I tell my mom to say? Any tips or suggestions? thanks ahead of time!
Don't ask to "buy" the coins...give them a $500 check to cash for you and tell them you want it in Halves..a bank is there for you...so if they don't help you any way they can I wouls start looking for another bank. Other than that...make friends with your bankers...go in offen...and talk to them... Speedy
Certainly good advice generally not to ask to "buy" coins at a bank, but not sure that should be dwelled upon. Most bankers know what you mean. Believe the key here may be to always talk to the right person (perhaps highest ranking person on duty at a branch or small bank, or in the operations area of a large bank), and be extremely straightforward with them as to what you want to accomplish. Banks are very competitive. Satisfying a potential or existing qualified and reasonable customer is high on their list, particularly for those in supervisory positions. No inside information. Just a lot of experience. On the one potentially lucretive lot of halves, you may have to realize that opportunity may have slipped away, but, if so [and I hope not], you should value it as a learning experience. Most of us fortunately may have been in a better position not to have left that bank without those coins. This is not at all meant to be a criticism of your mom, because her job responsibilities are extremely important. Chicken, you seem like a young person with an early and extra amount of talent headed in the right direction. Keep at it. Willie
Old Dan, Once again, you have accurately gone straight to the heart of the problem and identified the best solution for both the short and long run.
Cloud, Perhaps not. Doubt a banker could deal with an unknown minor bearing substantial amounts of currency or coins. It is a very heavily regulated industry. Believe they would require an account relationship, and my guess is a parent or guardian would have to be on such an account. But it would be helpful if a banker out there could clarify. Willie
Sure they can and they will....I have done it for sometime now...as long as I have the $$ they will let me get it... But I think its also alot of "getting to know" the people...and I also take them deer jerkey! Speedy
I think it is more about attitude than location, and I like yours. Go for it, and, if initially denied, adjust. Hopefully, some of the ideas here from all angles will help . Willie (The Ghost of)
I don't know what bank you went to chicken, but i have a piece of advice, SWITCH!!! I do work at a bank and have never heard of any bank refusing to sell coin to a customer. Everyday we have people come in and buy boxes of coins, and some of them aren't even customers!! I suggest that you and your mom get back there asap. Be polite, go to a different teller and ask for those halves again. If that teller refuses to sell them to you, kindly ask to speak to the head teller or branch manager. These are the people who you really want to talk to as they have to power to give you want you want! If you are polite they will try to do everything they can to work with you. Good luck and let us know how you make out.
Something similiar came up with me with a bank not selling me coins. I went to a Washington Mutual near Kmart a few days ago and bought $190 worth of coins from the lady's coin bag right. Well I sorted through them and brought them to the Washington Mutual near Walmart the next day or so and the lady went into the back room and brought out her already heavy coin bag so I offered to buy some of those rolls and she over all refused and said "Those are customers' rolls". She said they have other rolls for customers and those coins are shipped off to be counted and to have their contents verified. She said it depends on the branch's policy. That is one stupid rule and short of there being slugs and washers in the rolls I'll risk it. I love finding foreign coins in rolls. BTW: as I was waiting there a armored car came up and a guy from the truck went into the back room and loaded on about 4 or 5 HUGE and GIANT bags of unrolled coins and carted them off.
Ah! Perhaps I misunderstood the situation. On rare occasions, banks have a special relationship with certain companies that bank there. These companies deal with large amounts of change or one dollar bills (ie companies that operate vending machines). So rather than have a teller hand count $5000 in ones each week, the bank makes a special agreement with the company. Due to this agreement, the people at the bank do not actually count the deposit, but rather, take the depositor's word that they amount deposited is correct. This money is then shipped out to be verified. It is possible that those halves you want belong to a company that has this special relationship with the bank. Sorry to tell you this, but if this is the case, then there is NO way that the bank can legally give you those coins.
