Beware of Bank Coin Counters

Chipk

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Mar 18, 2013
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Jacksonville / Yulee Florida
6 months ago I tried my hand at coin roll hunting half dollars. 2 boxes yielded 2 1964 Kennedy’s.

A month ago I posted about my second shot at it. 2 boxes produced 7 90% coins including a ‘53 Franklin and a ‘40, ‘42 and ‘46 Walkers. The ‘46 is in mint condition.

Then last week I again bought 2 boxes which yielded ZERO. NADA. ZIP.

HOWEVER the bank coin machine paid off and taught me a very valuable lesson.

I had 2 batches of coins to return today. I use VyStar for this purpose. I decided to return one batch to one branch and the rest at another.

When I went in the first there was a man already using their coin counter. He had $200 worth of half dollars. He was also coin roll hunting.

At the end he had 2 half dollars the machine did not credit to him and they spun for several minutes before sliding off. He went to report it and I started feeding mine into the machine.

Well the last 2 of MY half dollars also weren’t credited.

An employee opened up the machine and saw 2 halfdollars off to the side. He snatched them out of her hand and fled.

She tried to close the machine and I asked about mine. She said there weren’t anymore but I pointed out the inside catcher which was full of coins.

You see there is a reject feeder outside of the machine BUT there is also one INSIDE. Few people know about it but I do.

She acted like it was a surprise to see it and started to pull a few coins out but I insisted she dump ALL of them into my box which she meekly did.

Here’s what was in there. 66 pennies. 7 nickels, 20 dimes, 8 quarters, 7 half dollars and 4 foreign coins.

One foreign coin is a 1957 50 PTAS. According to Google it is a rare Spanish coin and on EBay they are offered for as much as $315!!!

Then I went to a second location and again a few of my coins did not register. Again they opened the machine and the inside box was also loaded. However this teller would not give me all of them as requested ( but threw a couple of quarters my way). BUT she did give me some foreign coins including 2 Irish 50 Euro cents, a Scottish 50 Euro cent, an English1 pound and 8 Euro coins I can’t identify.

The point is watch and listen if you are feeding coins into these machines. If you hear coins drop that don’t register, demand they open the machine up.

It’s YOUR money.
 

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A word of advice, take it with a grain of salt, if you’d like to keep your roll hunting privileges, don’t pester tellers or bank management over a couple of lost coins. It’s not worth the chance of the bank cutting you off completely for becoming a pita. Based on personal experience, the last thing a teller wants to do is deal with the coin counter. You want to fly under the radar. Banks do not want to deal with cash, period.

“It’s your money,” well, yes and no. Your money is in the bank’s premise, or coin machine. So, it’s really their money. Did you know that once you make a cash deposit into a bank, you become an unsecured creditor, your money is no longer truly yours. If the bank runs into financial trouble, your money can, per law, be used to bail out the bank.
 
A word of advice, take it with a grain of salt, if you’d like to keep your roll hunting privileges, don’t pester tellers or bank management over a couple of lost coins. It’s not worth the chance of the bank cutting you off completely for becoming a pita. Based on personal experience, the last thing a teller wants to do is deal with the coin counter. You want to fly under the radar. Banks do not want to deal with cash, period.

“It’s your money,” well, yes and no. Your money is in the bank’s premise, or coin machine. So, it’s really their money. Did you know that once you make a cash deposit into a bank, you become an unsecured creditor, your money is no longer truly yours. If the bank runs into financial trouble, your money can, per law, be used to bail out the bank.

I agree with amc_rulz. you piss people off even in a minor way they remember you. If you are pleasant and kind to people they remember you. The only difference is how they treat you the next time you want a favor. Bank employees have the discretion of saying yes or no in most cases.
 
I knew that coins were going somewhere. I have pre-counted clad before taking it in and been very careful about being accurate.
I have never had a batch match up, and it is never over always under. I have had coins that I retried because they were clean and
nothing wrong with them (dimes) and had about half of them just disappear.

My question is why should there be a secret reject box? Isn't that stealing property from a customer / client?
Everything not counted should be in the reject cup in an honest machine.
 
I read this post after cashing in my dug clad at the bank. Over $240 worth. The machine stopped 3 times while I was feeding it. The tellers got some training on what buttons to click on the touch screen to clear the error, but never had to open the machine. Now, I wish they would have.
I have seen this machine, and one at another bank, opened up before. I saw dirt and debris, a couple loose coins, and one had a Canadian nickel stuck to a magnet inside, but I didn't notice an internal reject bin. If this happens again, I will politely attempt to claim any rejects inside, without being a PITA.
Thanks for the tip!
 
I took a jar full of clad quarters to the bank the first of this week. Their coin counter is back behind the counter, can't even see it from my side. I just left them to run them thru and when finished they had four more quarters than I thought I had and there was also one dime in the jar. I very well could have had four more in the jar than I thought so I'm thinking it was my mistake and they counted them correctly.

The next day I took my dimes, nickels and pennies in. They counted out the same as I had them listed on my spreadsheet.
 
Good points about how you treat the tellers. I am always polite BUT firm. I apologize for asking them to open the machines and thank them profusely for doing so.

But I do make sure I get what’s mine.

And I rarely dump coins at the same bank. I have a number of $5 savings accounts across a number of banks for this purpose.
 
I took a jar full of clad quarters to the bank the first of this week. Their coin counter is back behind the counter, can't even see it from my side. I just left them to run them thru and when finished they had four more quarters than I thought I had and there was also one dime in the jar. I very well could have had four more in the jar than I thought so I'm thinking it was my mistake and they counted them correctly.

The next day I took my dimes, nickels and pennies in. They counted out the same as I had them listed on my spreadsheet.

Same here. I know exactly how much I have when I take mine in and it seems like I always get more money's worth back. I love my bank. :D
 
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