Returning Coins to the Bank

Discussion in 'US Coins Forum' started by noahhutch01, Feb 14, 2022.

  1. noahhutch01

    noahhutch01 Member

    Hello, everybody... I am ordering my first few boxes of half dollars to search through them to see if I can find anything worth keeping. I know not to return the unwanted coins to the same branch, but how do you all return your leftovers? I am so anxious about a bank refusing to take them or the tellers plotting my murder lol
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  3. SensibleSal66

    SensibleSal66 U.S Casual Collector / Error Collector

    Hello and Welcome. I have never coin rolled before. Let me start by saying that, but aren't Banks supposed to take any legal coinage in return for cash as long as it is rolled?
    Awaiting more answers: !:nailbiting:!
  4. imrich

    imrich Supporter! Supporter

    The short answer today is: Banks have many options, are stressed for labor resources, closing branches, and may not accept unprofitable transactions with a potential customer.

    I recently, when preparing to fund my tax payment, took a 5 figure sum of treasury bonds to a >50 years of a dealing account major bank where I have a large savings account, "safe deposit" storage box, etc..

    I had done the paperwork in advance, so they would only need to accept my bonds for deposit, and spend less than 15 minutes transacting with me.

    They refused the deposit, saying that I'd need to send unsigned bonds to a distant Federal facility that doesn't accept phone calls (common today) where they may open a savings account with my deposit, at their discretion. That wasn't an option as, with the shortage of available postal delivery employees, a certified envelope with a large money order payment, had been "lost".

    This was a bank that refused my ~decade ago past order for a box of halves, and only accepts large "change" deposits for business accounts.

    After considerable days investigation, I took my Federal funds deposit to another smaller bank, in my best attire, where I also have these services.

    They accepted my bonds for deposit in a savings account, and spent the <15 minutes transacting with a smile.

    You may need to do investigation prior to a "deposit"!

    Last edited: Feb 14, 2022
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  5. Wizank

    Wizank Well-Known Member

    I have had bank tellers (Suntrust) tell me to unroll my coins, put them in a deposit bag and wait a few days for the deposit; tell me that only rolled coins can be accepted, and tell me that they will not accept more than $50 in coins at a time. Three different answers at the same bank. I have found that for the most part, rolled coins will be accepted anywhere at any amount for DEPOSIT. I still spread my returns around to about four different banks, just as a courtesy. I buy my coins from three or four OTHER banks - so as not to buy my old coins again.

    When I wrote to Suntrust corporate folks about limiting coin deposits to only $50, they wrote back and said no such limit is policy and all cash deposits should be accepted for deposit. I just stopped using that bank location.
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  6. Beardigger

    Beardigger Well-Known Member

    Check your area for banks that have a free coin counting machine for customer use. I opened an account at a nearby bank just because they had a machine. Here in florida, that was Southstate bank. Not all branches have them. but there are three branches in my area (within 10 miles that do). The bank's website features that info.
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  7. Snowman

    Snowman Senior Member

    How about the other option? Just spend them. I did the same thing-just spent mine. I wouldn't kill the cashier but spend a roll everyplace. Most cashiers don't care- money is money. After a while I was known as the half-dollar guy at the grocery store.... the cashier knew what was in my pockets !!!! plus, some people ask unusual question like why don't you keep them as they are rare??? Also, halfs are good teaching tool for younger cashiers, it's so funny some cashiers can count quarters but not half dollars. It's hilarious- it throws them in a tailspin.
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  8. potty dollar 1878

    potty dollar 1878 Well-Known Member

    Don't have any of those,we have 2 wells and 2 SunTrust.The wells will accept coins but the SunTrusts won't for some reason.
    1stSgt22 likes this.
  9. Kurisu

    Kurisu Supporter! Supporter

    After decades of searching rolls...ask them. Seriously.
    Have conversations with the tellers about whether you're inconveniencing them or not (you're not, by the way, it's part of the service your bank provides. Within reason of course).

    You'll find that some banks have coin star type coin counters available for free for customers.

    You'll find that often credit unions have coin counters and will happily take your loose change in any amounts. Typically accounts, even checking, are free at credit unions.

    Have will find that tellers will start to let you know when they have fresh boxes or get a bunch of customer rolls, you just have to ask...and...

    My final honest piece of advice is that if you are a regular at one particular bank, like maybe you live in a smaller town, be nice! I fairly regularly bring the tellers a box of donuts if I've been seeing them a lot, true! :smuggrin:

    Many of my tellers over the years (a few are also collectors) also love seeing a photo or two of interesting finds! So before I walk in I load up a couple photos on my phone just in case I see a teller who'll enjoy seeing and hearing about a couple sweet finds, without slowing down folks in line behind me of course.

    And sometimes I even visit the representatives in their cubicles around the lobby, especially the middle-aged and older ones, they seem to enjoy coins a bit more as they are no longer tellers and sometimes they or relatives are also collectors...the conversation can start with me obviously leaving with some rolls and asking the person..."want to see a really cool coin find I made from your rolls?!". You'd be surprised at the relationships that develop, as well as an occasional tip on interesting rolls!

    Most of the tellers who've known me for years usually are greeted with "got any interesting rolls today?!" :joyful:
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  10. Beardigger

    Beardigger Well-Known Member

    Just a thought.......Coinstars charge no fees if you get paid in a gift card. I did this for awhile. Saving the gift cards (tickets) for Christmas shopping later in the year, or for Home Depot in case something came up at the house. There are a lot of gift card options to choose from.
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  11. Two Dogs

    Two Dogs Well-Known Member

    The banks in my area have been begging for coins for about a year now. They've waived all their "must be rolled" rules. The merchants need coins and are on a quota system.
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  12. Bill H.

    Bill H. Active Member

    I do the same thing and have for many years. I limit my half dollars to $10 per transaction with paper money for the remainder. Also, Walmart, Home Depot and Lowes have self serve check out which take halves (and dollar coins of course).
    noahhutch01 likes this.
  13. Jersey magic man

    Jersey magic man Well-Known Member

    I have been both getting boxes of coins and returning rolled coins at a local TD bank. Both transactions were effortless and always with a smiling teller. I have also ordered $2 bills with no problem. A great bank to do business with!
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  14. Two Dogs

    Two Dogs Well-Known Member

    That used to be an easy solution for me when I lived in NY and went through a series of toll booths every time I drove, especially doing pick-ups and drop-offs at JFK.
    I now reside in a different location and with the pandemic, I rarely use change.
  15. Jim Dale

    Jim Dale Well-Known Member

    I've been banking with our State Employees Credit Union since 1973. They don't take rolled coins and they have a CoinStar machine for no charge. They can only get half dollars with a special order, which I don't know that amount. I can get $2 bills, but I don't collect them although I do have about 10 of them. My wife use our VISA for every transaction that we can. All our regular bills are paid by draft. I use to withdraw $500 in cash each month, but since everyone takes a credit card, I've had about $300 in cash for about 3 months or more. My wife pays for a drink she gets when she gets gas which are paid separately. I reconcile our accounts daily, just to have something to do, mainly because I am a retired, bored accountant.
    The only coins I get are for my collection, which most are paid with PAYPAL.
    Maybe I need to check other banks to see if I can get Half Dollar rolls from them.
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  16. noahhutch01

    noahhutch01 Member

    Wow, thanks for the great responses, everybody! I think that maybe opening another account at a new bank and spreading the deposits out sounds like the best option. I'll keep an eye out for banks that have their own coin machine. I know there is a nearby branch of my bank that has one, but do you guys think that I would potentially inconvenience the other branch or get those coins back one day? Don't really want to risk that, so it seems like opening a new account is the way to go.
    Kurisu likes this.
  17. John Burgess

    John Burgess Well-Known Member

    my banks in the area were all straight from the beginning, "we aren't ordering half dollars or dollar coins for you, and we aren't taking half dollars or dollar coins from you, everything else is fair game."

    And so there it is. every situation is different of course, but I was told from the start I was going to have a hard time getting rid of half dollars if I did manage to get them.
    I've had branch managers at dump banks I have an accounts at come out to the lobby as I walk in the door and tell me, no, they won't take coins from me anymore, take it somewhere else, and they don't care if I close the account with them, bye bye!
    And that was over rolled quarters nickels dimes and cents....

    They might take it from you at first but depending on your frequency, they can and have shut people down and tell you, "we don't want it, take it back where you got it from".

    And yeah there is always the coinstar machines and taking a gift card option so you don't take the processing fee hit as a last resort, last thing you want is to have to spend them here or there for the next forever.
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  18. noahhutch01

    noahhutch01 Member

    Hello, Snowman! I am definitely planning on it, but I won't be able to spend $1000 in halves in everyday transactions before I get my next few boxes. I will be bringing several rolls and exchanging them in the drawers at work, and will spend several rolls myself. I just won't be able to spend them all in time.
  19. Blasty

    Blasty Gold Member

    I had BofA break all of my painstakingly re-wrapped rolls open right in front of me and dump them in a bag to be sent off for counting. The amount deposited to my account always comes up a few dollars short when turning in coins this way.

    Right now I'm not sure what to do with my bucket of searched change which must be well over 50 pounds at this point. I don't roll hunt anymore since BofA pulled that crap on me, this is just years and years of accumulated pocket dumps sorted into three bags - zinc, dimes, and quarters. Yeah, I save the copper and the nickels just because. I hear good things about credit unions so might be looking into moving everything to one of them someday - I've had it with BofA for plenty of other reasons anyway.

    CoinStar is a crock. I don't want gift cards, I want to exchange my coins for an equal amount in notes, no charge, no shortages, no waiting. I might dump zincolns in there and take the hit since counting them isn't as worthwhile as other denominations, but that's it. It says a lot about our currency that the coins are such a burden that they trade at a discount in some places.
    Last edited: Feb 14, 2022
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  20. Mr.Q

    Mr.Q Well-Known Member

    I have never had a problem buying boxed or coin rolls from our bank. They do prefer that you bag the extras and allow them to use a coin counter rather then roll your own. Makes it convenient all around. Good question thanks for sharing.
    noahhutch01 likes this.
  21. Mountain Man

    Mountain Man Supporter! Supporter

    I don't CRH so haven't had to deal with this issue, but being in a small town (approximately 35,000) I have several small banks and credit unions in the area that actually fight for your business. The most current bank I opened an account with, the president was on site and brought his dog to work with him. Being a dog lover, I started a conversion and found that we had a lot in common. The short story was I was open and honest about my collecting and needs and he not only said he would accommodated me, he took me around to the bank staff and introduced me, letting them know I was a collector but stopped short of telling them to give me special services.
    My advice would be to "interview" bank and credit union managers, being honest and ask them their policies. If they don't accept rolled coins, do they count and credit my account without a charge? A good relationship can be built on mutual trust when you get to know the people you are doing business with.

    And BTW, Welcome to CT.
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