Suspended or cancelled Presidential dollars

As for the dollar bill "rags" comment, I'm sure I'm not alone when I say I've wasted a lot of time trying to feed a perfectly good, but worn, dollar bill into either a coin changer or vending machine.

As for the $7 to $10 to have a box delivered to a bank, I contacted two separate banks in two separate states and both stated that they order 1,000 coin boxes of dollar coins from the online Federal Reserve Web site and pay only Face value. They do not pay any additional charges so I have no idea where that $7 - $10 figure came from.

And BTW, Excelsior's self apponted status of "paramount expert" has no validity on this particular site. His site yes because if you disagree or present valid arguments, then you get booted off and labeled as a troll. Your posts also get deleted to cover the tracks as well.
I know, because this happened to me.

 

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Well what Hank's id on the Where's George website?

 

"Hank" User number 1.

http://forums.wheresgeorge.com/member.php?u=1

Excelsior is user number 120.

http://forums.wheresgeorge.com/member.php?u=120

 

What's up with the microfont, man? If you have something to say, say it at a font size that everyone, young and old, can read with ease. I have no idea why 19Lyds thought Excelsior owned or operated Wheres George. I will address what Fred said about getting FRB straps of worn out twos. This is nothing new and I have read about people getting worn out twos in FRB straps for years. For some reason the government tends to have a lower threshold for reissuing twos than other denominations.

Excelsior is an active member on this very forum. Like I have said, he is known as Numbers on here. He is an Economics Professor in Wisconsin and he knows his stuff. It is "Hank" who often brands people as a troll and bans people on a whim. Yes, you are most certainly right about getting your posts deleted. I was banned on the Wheres George forum years ago and I recently came to discover that my username has been deleted which obviously means my posts have been deleted as well. In the past I could still see my username in the member list. It just said "banned" but now it is gone. If you have a different opinion than what Hank and his minions have and you express that opinion, you won't last long on that forum.

I believe the United States Federal Government has ended their free shipping program of dollar coins due to abuse with credit card points. Furthermore, banks charging fees for boxes of coins is real. I have been to two different banks that have tried to charge me to buy boxes of coins. At one bank I was told I would be charged a $7.50 fee for a box of pennies. At another I was told I would be charged $10 for a box of nickels. They both gave me a story of how they get charged per box by the delivery services for them. I can't even fathom what these banks would charge to order a box of dollar coins.

I bought a box of quarters today and this box weighs a lot. This box is like an anchor for a 60 foot ship. Coins are heavy, they get very dirty and are more difficult to count and roll than dealing with paper. I would be supportive of going back to Fractional Currency in place of using actual coinage in commerce altogether. It would be so much easier to hand a cashier a 1, 5, 10 or 25 cent note than to have to deal with coins.

 

As a side note, my local, state, and federal lawmakers do a lot of stuff which I and lots of other folks don;t like but........they keep getting Re-Elected!


I haven't figured that one out yet!

 

What Banks charge YOU has nothing to do with what THEY pay for delivery. As I stated, both banks I spoke with were adament that they only paid face value for deleivery from the Federal Reserve System. Private carrier could very well be different but as these coins get more entrenched into the daily economy, I can see competitive business innovation actually reducing any delivery costs.

No doubt, coins are heavy. Try carrying four $500 boxes of half dollars out to your car without help. I could never do it! But, business is business and its about time that the Federal Government actually got down to the "business" of saving tax dollars.

 

It's all about how the bank operates. For instance, I worked for a bank a couple years back who did not get their coins directly from the government. They contracted a private company to deliver the coinage and it was not new coin. We never got new coin. I'm certain the bank had to pay that private company a fee for delivering the coinage. However, we did not charge people for purchasing a box of rolled coins. Since the bank paid for the face value plus a delivery fee...they obviously lost money on that particular deal. But, they had tons of fees and other ways of making money too. When all these expenses and income was factored in, the bank made an overall profit. So, there was no need to charge the customer fees for the coins.

Now, other banks may do things differently than the bank I worked for.