Don't want to start an arguement but have a question..

Okay I don't want to start an arguement or heated discussion so please answer this question pertaining to this situation only and just to let you know I won't respond to any other posts about other situations telling me that bank employees who buy bills or coins of value from unknowing customers are wrong.

Okay here is the situation that I'm talking about. At our bank we have a changer that we have to run for the customer. The way this one is we empty the coin onto the top and skim through it looking for things that will tear the machine up. You would be surprised what we find. Some examples are pocket lint, buttons, safety pins, washers, bolts, nails, nuts, earrings, a real gold ring once, rocks and so on. Well while going through it and while waiting on my old machine to count the money occasionally I will see a wheat cent or silver dime or nickel. I've actually found silver dimes, war nickels, a couple of buffalo nickels, one Indian head cent and lots of wheat cents. Well today a customer seen me skimming through it and said "If there are any good old coins in there they are mine" Well there lies my question. Shouldn't it be their responsiblity to go through their coin before they bring it in? If it were a teller running the change that wasn't knowlegable then their coins would be in a cloth bag heading to our downtown vault. Is it my responsibility to inform myself what is worth keeping and then also searching through coin for the customer?

I usually set aside what I find if I do and give the customer their money and then buy the coin from my drawer at the end of the day.

I don't see how if they aren't going to take the time to go through it that I should. Like I said I know that there are other situations and I don't want to get into a discussion about those but what about this situation?

 

Log in or Sign up to hide this ad.

I think it's their responsibility to go through it...if they don't it's their loss. It's not the tellers job to sort the coins by collector value for the customer.

 

That was pretty rude of the customer to say, I think at that point when he handed it over it was already considered a deposit. He should've taken the time himself to look.

 

If you're talking about common pocket change I would say that it would be very unreasonable to expect bank employees to search his coins for anything valuable. The depositor should search his own coins if he wants them searched.

However, if the depositor is the proverbial "little old lady" who is depositing coins from her late husband's collection and she has no idea what she is doing I think it is incumbent on the bank employee to advise her of her mistake.

 

This is just another "what if" but if the "Little old lady" or other customer thinks that something in there could be valuable or looks different is it their responsibility to do a little research or question asking themselves or not? If a customer came to me asking about a coin I'd give them as much information as I could. It wouldn't be much though because I'm not that knowlegable myself but I do keep a redbook at work that I've shared with customers.

Also sometimes after a coin bag is full then I will go through some of the change on my break and replace what I want from the bag. In that situation I have no idea whose coins they were. So maybe I should just go about doing it that way.

 

I think once they handed you the coins, they belong to the bank. I guess it depends on teh bank policy. Go by that. When they said, "If there are any good old coins in there they are mine" I would ask which ones are the good ones.

 

I would hand it back and say "sir, please check yourself, as I have to take out any object or coin that I feel will clog the counter, I hope you understand"

Jim

 

I've never read or heard any bank policy on buying coin or paper currency from the bank. I know of others at other of our branches who do the same thing also. My manager knows what I do and laughs about it like I'm a dork when I get excited over a coin. I think it makes my job more enjoyable which makes me happier to be at work and do a better job.

 

A bank customer that brings coin in to deposit will receive that service. I agree with others that any expectation that bank employees will identify rarities for them is unreasonable.

Hobo does have a valid point though, the LOL scenario. Any bank I have ever dealt with (usually smaller institutions) would take action, perhaps referring a customer to the manager, if they were to attempt to deposit gold coinage and the like.

 

Talking about things in the coin that tear up the machine just had to share this. I've had one customer bring in change with gravel all in it. They had dropped it in their gravel driveway and just scooped it all up gravel, dirt and all. They expected me to clean it and pick out the rocks! Another customer brought in a jar that I dumped into the top tray of the counter and it was COVERED in cooking oil. I think the jar was previously used for oil of some sort and then they just started using it for change.

 

What did the manager say when you asked them about this?

 

I haven't asked (you are talking about the original situation right?) He left for a meeting early and this happened this afternoon. He knows that I've gotten coins from the counter so he has no problem with it. I'm not sure what he would say about a customer making that comment though.

I have found a few wheat cents before for one of my favorite customers. I walked up to my counter after running his change and he seen that I had found some and apparently he collects too but hadn't went through that change. I ended up giving those back to him even though he argued with me to keep them.

 

Kdkenn,

First look at it this way. If they didn't take it to the bank they would spend it right? I recently posted a "lot of star notes" in a thread that I got for face value in my truck stop days. People spent them. If it was a good one I bought it. I picked up any wheat, silver etc. as well.

We recently had a seller come in the shop that does the Coinstar thing at her store. She was sharp enough to pull the silver and sold it to us. Good for her. She did her homework and made a few bucks.

Now "junk silver" vs. a true rarity is a different story in my eyes. Hobo brought this up and he makes a point.
Several months ago an elderly woman deposited $2000 at a bank in the area. That deposit consisted of 2 $1000 notes. Apparently the bank manager discovered this and took the time to contact the lady and tell her that what she deposited was worth much more than face value. The notes were returned to her. A dealer closer to her than us (drat!) bought those notes. I look at it this way. The bank did the right thing in this circumstance. That extra money may have really helped this "proverbial little old lady". I applaud them for that.


As for your customer stating "those are mine". Really stupid comment. If I came into your bank and asked for $100 in loose quarters but only wanted state quarters would you have the time to fulfill that request?
I'd tell him to go to a coin shop. We'll find it and charge you more.

 

Yes

A deposit is a deposit. Banks don't look at money like we do...it's face value only.

There typically isn't a policy about buying coins you find while working at banks from my experience. Most bank employees are also customers of that bank. So, they also make withdrawals and deposits at the same branch they work (coworkers perform the transaction for them). So, if a employee makes a withdrawal from the bank and asks for a certain coins or bills they have found, everything is fine. I used to do it all the time with star notes.

I think what the bank manager did was a great thing...but it certainly wasn't part of his job to do so. He went above and beyond...and I applaud him for it. But, if he hadn't done so he would not have done nothing wrong.

 

k,

In my opinion, and applying the golden rule to your situation, I would offer the customer the same service I would offer myself, and pick out the good coins for them. Fundamentally, it is a difficult position to take that "I'll cherrypick the customer's change for myself, but won't do it for them if they ask".

Bottom line: Do unto others that which you would do unto yourself. If you're going to do something for yourself, you should certainly do that same thing for a customer of the bank.

Of course all of the above is presuming I've understood your situation correctly, and as always is respectfully submitted...Mike

 

You ask if I would have time to go through loose quarters to search for state quarters for a customer well I've actually done that. LOL I've searched through bags of coins from our machine to help customers finish state quarter collections and also helped a customer complete up to date her presidential dollar collection. This sweet lady tried to give me $2 to buy a "soda" but I told her that it was my pleasure to do it for her and to keep her money. She then told me that she makes things and she was going to make me something. That's been a few weeks ago and I haven't seen her again but the point is that it was enough for me to know that she appreciated what I did for her.

 

p.s. if anyone wants to argue (other than the OP), I'll take on all comers. hya:

 

I agree with everyone else. It's a bank and not a coin shop. If a customer said that to me, I would have stopped and gave him his bag back and told him to search it himself and bring it back when he wants to deposit the coinage. He bought it in for face value and that's what you're giving him.

 

I totally see your point here and it has me thinking a little. Like I said if a customer asked me about coin I would tell them. So in this situation is it like them asking me?

I'm still not sure though. I think it's totally different when a customer brings me a few coins asking if there is any numistic value to them and a customer who brings me a bag of change to go through. What is to stop them from just buying coin, opening the rolls, throwing it in a bag and bringing it to me because they are too lazy to go through it themselves like I do sitting at home at night?

 

k, Hi! Please re-read my post, I've tuned the message slightly to be a bit more clear, but the conclusion is the same.

To answer your question, yes, it is just like them asking you, or at least that's the way I see the issue.

I can see your concern, but I suspect that's not what was really going on in the situation you describe. If I've understood it, the bank customer was simply asking you to pick out the good coins they give you to sort. Since you do it yourself, you should also do it for the customer's coins if they ask. If you suspect they are trying to use you as their personal cherrypicking station -- which I doubt was the intent of the person asking -- I would address the issue directly with that person and do it in a nice and conciliatory manner.

Morally yours...Mike