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Please cite the federal law.
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<p>[QUOTE="Kasia, post: 1355984, member: 31533"]I don't know if this is an actual law or not, but I know in the 60's, the banks my parents were banking at had to give out coins at face value if asked for them, and to my knowledge weren't allowed to be sorting through them and setting coins aside. I think it was simply because as a business they did not want the tellers and others working there to mismanage the money or make it their personal playground for that sort of thing. But I'm sure that management probably had other opportunities to switch out for older coins if they came along. </p><p><br /></p><p>It would be difficult to enforce a federal law, even if it was there, because the feds don't normally get in on the day to day operations of any one bank in that respect. </p><p><br /></p><p>To me it would also make more sense for the banks to either have someone to save them for and sell at face value, as is what the bank is there for, or if someone was truly knowledgeable, to simply have a friend come in (at a phone call) and buy it from the bank, again for face value, and then turn it over to that bank employee later on.[/QUOTE]</p><p><br /></p>
[QUOTE="Kasia, post: 1355984, member: 31533"]I don't know if this is an actual law or not, but I know in the 60's, the banks my parents were banking at had to give out coins at face value if asked for them, and to my knowledge weren't allowed to be sorting through them and setting coins aside. I think it was simply because as a business they did not want the tellers and others working there to mismanage the money or make it their personal playground for that sort of thing. But I'm sure that management probably had other opportunities to switch out for older coins if they came along. It would be difficult to enforce a federal law, even if it was there, because the feds don't normally get in on the day to day operations of any one bank in that respect. To me it would also make more sense for the banks to either have someone to save them for and sell at face value, as is what the bank is there for, or if someone was truly knowledgeable, to simply have a friend come in (at a phone call) and buy it from the bank, again for face value, and then turn it over to that bank employee later on.[/QUOTE]
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