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Old 05-03-2021, 02:47 PM
mh9162013 mh9162013 is online now
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Default Coin condition for bank deposits

I'm finding a lot of zincolns while detecting, and many of them are in bad shape. Some of them look like crescent moons and some of them look whole, but are badly pitted. However, they are all recognizable as once being a genuine US penny.

What are your opinions about depositing these at your local bank? In other words, how bad must a coin be before a bank won't take them?

My understanding is that the US Mint will accent any US coin, regardless of condition, as long as you can determine its denomination and confirm its authenticity. But how do most banks handle this?

I'm guessing it's a case-by-case basis and each bank and/or manager will have their own discretion in how they treat really beat up coins?
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Old 05-03-2021, 03:24 PM
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I actually have a good bank teller that I met while I was coin roll hunting a year ago,he knows I detect and he'll accept any coins that don't have any dirt and isn't corroded. The zinclons go away.

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Old 05-03-2021, 03:32 PM
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I have heard people roll them into rolls to get rid of. I have done nothing with mine personally. One day I bought a few beers with some modern dollar coins I found otherwise they go into the 5 gallon water jug I am trying to fill since started. About 1/6th the way there after 2 plus years. Gonna be awhile.

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Old 05-03-2021, 03:39 PM
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Originally Posted by Metal detecto View post
I actually have a good bank teller that I met while I was coin roll hunting a year ago,he knows I detect and he'll accept any coins that don't have any dirt and isn't corroded. The zinclons go away.
I think most bank employees would do the same.

What did you mean when you said the zincolns "go away?"
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Old 05-03-2021, 03:40 PM
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Originally Posted by Jed Carroll View post
I have heard people roll them into rolls to get rid of. I have done nothing with mine personally. One day I bought a few beers with some modern dollar coins I found otherwise they go into the 5 gallon water jug I am trying to fill since started. About 1/6th the way there after 2 plus years. Gonna be awhile.
I figured as a practical matter, this could be done. Although I'd hate to be dishonest with a bank, let alone be dishonest over what amounts to literally a few cents here and there.
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Old 05-03-2021, 03:42 PM
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Banks are not required to accept any money and certainly not damaged money. Even the federal government will not take back corroded zincolns the last time i checked. I tumble the ones i find and inspect them. The bad ones go in the trash and the better ones go thru the coin counting machine at my credit union.
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Old 05-03-2021, 03:46 PM
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Originally Posted by mh9162013 View post
I figured as a practical matter, this could be done. Although I'd hate to be dishonest with a bank, let alone be dishonest over what amounts to literally a few cents here and there.
Dishonest with the bank
The history of banks practices and honesty leave little to no pity from me. I would give either of my banks crappy coins and not care. I have also been told that the coin counters at credit unions and banks accept more coins then a coinstar

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Old 05-03-2021, 04:01 PM
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Originally Posted by georgeinsc View post
Banks are not required to accept any money and certainly not damaged money. Even the federal government will not take back corroded zincolns the last time i checked. I tumble the ones i find and inspect them. The bad ones go in the trash and the better ones go thru the coin counting machine at my credit union.
I think you are incorrect:

https://www.usmint.gov/news/consumer...d-coin-program

However, here's a key phrase: "Bent or partial coins that are not readily and clearly identifiable as to the genuineness and denomination of the coins"

All of my mutilated coins are clearly identifiable as pennies, in my opinion. And I think most others would agree. You give the average person my mutilated coins, I'm confident most would say that "they appear to be pennies." But is that enough for the US Mint? That's what I don't know.

And for the time being, it's a suspended program. But presumably, it will be resumed. And if that's the case, is it worth it for me to keep zincolns in bad shape? Perhaps not...
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Old 05-03-2021, 04:17 PM
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I tumble them and pull out the worst ones. I just put them in a container and maybe someday if I ever have a trip going by a federal reserve bank I may try and turn them in. It does seem to be true that coin counters at bank and credit unions are less sensitive that coinstars


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Old 05-03-2021, 05:19 PM
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Originally Posted by mh9162013 View post
I think most bank employees would do the same.

What did you mean when you said the zincolns "go away?"
They go in the trash or if you have a junk yard near you they might take that.

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  #11  
Old 05-03-2021, 06:55 PM
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Not sure as itís been years since Iíve used a bank. I toss zincolns not worth my time.

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Old 05-04-2021, 03:05 AM
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Iím so poor I swing a crappy Bounty Hunter and even I wonít waste my time on crusty trash can pennies. Throw the damn things away.

My dad used to say that some people will work harder trying to steal a nickel than to earn a dime. He was a wise man.

Just throw them in the trash can.
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Old 05-04-2021, 06:55 AM
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Just throw them in the trash where they belong. I wouldn't even donate them to a good cause. They shouldn't even be making pennies anymore.

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Old 05-04-2021, 07:24 AM
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You guys are going to hurt the feelings of Felixthecat he loves those crusty worthless zincs... maybe contact him and he will pay you for them

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Old 05-04-2021, 09:11 AM
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Originally Posted by Cfmct View post
You guys are going to hurt the feelings of Felixthecat he loves those crusty worthless zincs... maybe contact him and he will pay you for them
As many of you may know, I find enough of them on my own but Craig doesn't. Please feel free to send them to him and you can deduct it as a "charitable contribution" on your taxes.

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  #16  
Old 05-04-2021, 09:20 AM
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The real crusty ones i drop in the house plants good for them, might be good in your garden as well .

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  #17  
Old 05-04-2021, 09:47 AM
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I deposited $327 just two weeks ago, the sum of my clad detecting so far with the exception of the rotten zincs and damaged clad. About thirty dollars or so was pennies, unsure of the actual copper/zinc ratio. The zincs have to have a good edge and only a couple small pits to get rolled, otherwise they get chucked into the damaged coins bottle. My discretion. All are tumbled clean.
The pile is growing again. Short one hour hunt at "Mid-Tone Park" after work waiting on wifey to get off netted about $1.20 yesterday.

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  #18  
Old 05-04-2021, 10:06 AM
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The bulk of mine go in the trash. Then the rest will go into a metal straining pot where I add some CLR or vinegar , baking soda , etc. Then off to the coinstar. Hoping they alone will take a bite out of that 12% fee. Many end up in the reject tray. Where it doesn't take long for some unsuspecting sap to come by thinking he just struck gold. The poo eating grin these guys have is priceless ! So that's my reward for the hard work digging these things. Ya gotta dig them if you want gold on a beach. I don't count , but it's in the 1000s I throw away each year.
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  #19  
Old 05-04-2021, 10:46 AM
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I've found that this is getting more difficult. Our local banks do not accept rolled coins. They have to pass thru the coin counting machine.

I pass them on as long as they are somewhat legible. Most corroded, illegible ones get tossed with the trash.
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  #20  
Old 05-04-2021, 10:54 AM
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Originally Posted by davidlhyde63366 View post
The real crusty ones i drop in the house plants good for them, might be good in your garden as well .
I run a commercial garden. You are correct about metals in general. Lots of ďmetalsĒ are beneficial in the plants health most have no clue.

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