Big Boys Hobbies

The bank nixes Tumbling.

SBA701

SBA701

Senior Member
Joined
Jul 29, 2011
Messages
412
Location
Fort Mohave, AZ
I took in $40 worth of clad today and the bank said that this was the last time. They told me that the government considers them mutilated and will not except them. The counter will count them with no problem but they do not shine like they are supposed to. It looks like coin star for me.
 
Tell the bank you will take your business somewhere else and then write a letter to the president of the bank. Then tell them you have $ 50, 000 dolalrs you are thinking of investing and see what they say?
 
What a joke. Find a bank/credit union with a lobby coin counter. I find this very funny. I was just looking at savings' interests rates at a few banks and credit unions in my area and I can't believe how little they are......compared to their loan rates. I just wash my clad off really good and kinda do the homemade tumble thing. Mine don't get shiny at all...but they are clean of dirt/clay. And the corroded zinc lincolns are at least smooth if not completely round!:lol:

Find another bank...or pull a fast one...have someone else take the change in. They are on the lookout for you...the dirty coin guy....or turn the tables on them...bring your video camera next time and film them telling you no...that should be interesting viewing for the bank's execs!
 
I am all for big business but the banks are a joke. I remember at one time getting 7-15 percent interest on my cash. Wow, now your losing money by keeping it with them.
 
Go to a different bank. If the coins are in otherwise decent shape and they can identify them as the coin they are supposed to be then most banks will accept them. They dont have to accept them if they dont want to but a little discoloration should be no reason to turn them down.
 
demyansk1942 said:
I am all for big business but the banks are a joke. I remember at one time getting 7-15 percent interest on my cash. Wow, now your losing money by keeping it with them.
Click to expand...

Yeah, you could get 7 to 15 percent on your cash, but what was the inflation rate at that time?
 
Mutilated coin is coin that has been bent or twisted out of shape, punched, clipped, plugged, fused, or defaced, but that can be identified as to genuineness and denomination. Mutilated coin is not redeemable at face value; it is redeemable only at its bullion (metal) value as established by the Director of the U.S. Mint.

The Federal Reserve DOES NOT accept deposits of mutilated coin. Mutilated coin should be forwarded via 'Registered Mail, Return Receipt Requested' to the address below with documentation of the circumstances:

United States Mint
Independence Mall
P.O. Box 400
Philadelphia, PA 19105
 
SBA701 said:
I took in $40 worth of clad today and the bank said that this was the last time. They told me that the government considers them mutilated and will not except them. The counter will count them with no problem but they do not shine like they are supposed to. It looks like coin star for me.
Click to expand...

save it then roll it
 
My only problem with Coinstar is that they charge tax. I can't see giving away a part of my money for the convenience of using their machine. I'll get an old hip coin dispenser and make purchases in all coins.

I would talk to the bank manager.
 
SBA701 said:
They told me that the government considers them mutilated and will not except them. The counter will count them with no problem but they do not shine like they are supposed to. It looks like coin star for me.
Click to expand...

Just because they don't shine? Sounds like you told them too much about them being dug and tumbled. If the ask what is wrong with them or where you got them just say they were in your change jar, and you will take them to your new bank if they don't want them.
 
Is your bank's coin counter in the lobby or behind the counter? If it's behind the counter then you need to find a new bank or use a different branch. If it's in the lobby then use and ignore them. If they stop you then find another branch. I have been stopped several times from using lobby counters because I have large coin dumps. They prefer for me to deposit it in a bag and let them send it off. I just go to another branch. After a couple of months whomever it was that griped usually is gone and I go back. I disagree that a discolored coin is mutilated. If that's the case then the bank shouldn't be giving me discolored coins like chocolate brown Lincoln Memorial pennies. They aren't shiny.
 
Vethraxx said:
My only problem with Coinstar is that they charge tax. I can't see giving away a part of my money for the convenience of using their machine. I'll get an old hip coin dispenser and make purchases in all coins.

I would talk to the bank manager.
Click to expand...

Wrong! I guess folks don't really know or they want to be rumor mongers that Coinstar machines are evil. Coinstar machines in grocery stores and other shopping areas like Walmart have an option, and have had an option for years that let the user take a credit with Amazon and other sponsors. If you chose to take one of those as a credit you are NOT CHARGED A FEE! Read the directions on the Coinstar machine and you'll see that. The bona fide Coinstars in banks don't have that option for a reason. I don't use Coinstar very often, but when I do I use one in a Walmart and I take an Amazon credit. I'm not tapped for a fee. It's still money.

But just in case...

http://www.coinstar.com/FreeCoinCounting
 
Spend those dirty coins at the gas station!! Roll them up and give em' to those dirty oil bastards who think it's funny to charge what they do... they like dirty money anyways!!! :lol:
 
When I took my clad from last year over the summer to my credit union, about $190, not one penny came back rejected. There were some coins in there that I thought for sure were going to be given back as rejects. Of course I go through all my coins and tumble about 50% of all of them so that they're in a presentable state. But there were cancerous, holy, mutilated, corroded see-through z-Lincs that I do not understand how they made it through. I was a very happy camper indeed! :yes:
 
Just save them and roll them. Thats free, most banks have the wrappers if you ask. I'd stay away from coin roll sorters. Got one in Brookstone and it was miscounting, had to return it for darn store credit. Place is overpriced for cheap stuff, funny thing was one associate said they get alot of those back, meaning the sorter I returned. Maybe I'll invest in a HF one?
You could also do what some do with coins besides pennies, run them into a digital soda machine and get new coins.
 
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