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Please cite the federal law.
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<p>[QUOTE="coinhead63, post: 1356202, member: 28001"]I believe that selling coins over face by a bank would create accounting problems. Each teller starts their day with a "bank" of a specified amount. During the course of the day the teller keeps track of the cash flow, both in and out. Let's say a customer brings in a roll of silver Washington quarters. According to the transaction records, ten dollars was received. If a teller then sold these coins at 30x face, her/his "bank" would be in error at the end of the day showing an overage of $290. Banks, like any other businesses reprimand cash handling employees for their drawer being long or short. The only way a teller could possibly sell coins or bills over face would be to search incomming monies, swap their own cash and then sell on the sly once they are off work. This does happen but raises red flags if and/or when the video tapes are reviewed by the bank staff. Any teller who wants to keep their job and have few, if any hassles from the management will not want to swap out of their "bank". It looks too suspicious and could lead to a verbal reprimand at the very least.[/QUOTE]</p><p><br /></p>
[QUOTE="coinhead63, post: 1356202, member: 28001"]I believe that selling coins over face by a bank would create accounting problems. Each teller starts their day with a "bank" of a specified amount. During the course of the day the teller keeps track of the cash flow, both in and out. Let's say a customer brings in a roll of silver Washington quarters. According to the transaction records, ten dollars was received. If a teller then sold these coins at 30x face, her/his "bank" would be in error at the end of the day showing an overage of $290. Banks, like any other businesses reprimand cash handling employees for their drawer being long or short. The only way a teller could possibly sell coins or bills over face would be to search incomming monies, swap their own cash and then sell on the sly once they are off work. This does happen but raises red flags if and/or when the video tapes are reviewed by the bank staff. Any teller who wants to keep their job and have few, if any hassles from the management will not want to swap out of their "bank". It looks too suspicious and could lead to a verbal reprimand at the very least.[/QUOTE]
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