All I Can Say Is Wow and It Hurts...

[$ilver$urfer]

Well, it happened folks, I was about an arms length away from the score of the century (i.e. - maybe even better than ABMs ginormous score last week, but probably not!!!) I was in a local branch that always saves half dollars for me and I get in there 5 minutes before closing to pick up my weekly order of dimes. The tellers are all sweethearts and I always bring them chocolates. At any rate, some old lady pushing 80 was with her grandson and they were cashing in over $2000 worth of old rolls of half dollars. The rolls were every color of the rainbow; ones I have never seen before and super old and tattered and had writing on them signifying the year and contents but it was hard for me to read them but I swear I saw good ones. One roll popped open while they were counting them and I thought I saw a 40%er or two in it. In passing I asked the old lady if that was someones collection and with a sad look she said yes, I actually feel bad about asking.

The tellers asked me if I wanted them and I said of course. The bank was closed so they said they need to finalize the counts and I could come in first thing in the morning and buy them. Trusting them because of our great relationship, I left and had visions of sugarplums in my head all night. Needless to say, but I was waiting in the bank parking lot 15 minutes before them opened. When I go in the tellers are acting kind of funny and the one girl who said I could buy them was all red in the face and flushed. I asked to buy the half dollars and she said we cannot sell them to you because the rolls were a mess and we need to "verify the counts". I could tell it was a canned response and she seemed really nervous so I offered to buy the rolls off of them for what they paid the lady and she said she couldn't because they needed to verify the count and said the branch manager told us this. I asked to speak with him and he was a bigger guy posturing over me with a real loud, intimidating voice saying we cannot sell you those half dollars until we verify the count of the coins in the rolls. I said the girls always sell me the half dollars and I would gladly incur any losses in any of the rolls were a coin or two short here and there. He said he wouldn't sell them to me. I informed him the tellers said I could come in first thing tomorrow morning and have them and then said isn't it bank policy to sell customers coins upon request if you have them? He ignored the facts and the question and said verbatim, "Listen, I know silver is over $40 an ounce and with that many rolls coming in we need to see and verify what is in those rolls." So you won't sell them to me? "Nope!" He abruptly left to his office and I asked the teller why and she was just shaking her head silently. Needless to say, I called the central customer service line and filed a formal complaint against the manager. I asked them if it was bank policy to have bank employees searching through rolled coin on company time, I also told them what he said about the price of silver and how I felt intimidated during the whole ordeal. We will see what happens...

Could have been the score of the century folks....

HH,

$ilver$urfer

 

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[phrostie]

you'll get them, patience. and if not, then it was a nice dream and you'll ge tthe next ones.

 

[azlegends]

If you don't get those coins, you better fight it as far as you can. The bank managers actions and behavior are outrageous. I usually don't care about banks that are grabbing silver, but that was the most unprofessional thing I've ever heard. You should start a quest to ensure that this guy gets fired.

 

[jim4silver]

I think what is worse than how the OP was treated, would be if nobody at the bank told the old lady that the coins were more valuable than face and she should take them to a coin shop. That is, assuming there were obviously present silver coins. I believe a bank has some fiduciary "duty" (maybe not legally but for sure morally) to its customers to alert them in such an instance if they are aware that the coins are old and valuable.

I know a couple of tellers personally, and they have said that whenever a customer brings in a batch of old coins that they recognize as silver (usually silver dollars and other 90%) they tell the customer and most of the time the customer listens. Occasionally they say the customer will say they don't care and just wants cash, then the tellers grab it for themselves (the tellers I know are all silver bugs and grab whatever they can get and I don't blame them).

Jim

 

[Yougot]

If you want to put a name/number I would be more than willing to file a complaint of your choosing against this man.

 

[hombre_de_plata_flaco]

Sorry to hear that $ilver$urfer, but as they say, when one door closes another one opens. Just try to keep a positive attitude. I can assure you that you handled the situation a lot better than I would have.



My uncle has been a bank executive since the early 80's and he has told me that silver culling among bank employees is definitely not a new phenomenon.

If I were you I would just come to grips with the loss, stir up as much trouble as I could for the bank, and move along to the next target. The stuff is still out there.

Good luck to you.

 

[alaskanfever]

no idea what i would tell the manager but i would be pissed i would even try slipping the teller a extra tip if she was willing to sell part of them.

 

[ckrakowski]

please post what happens if anything i wold like to know how this turns out.

 

[ivan salis]

say fine --once you "verify" the count , let me know how much to make the check out for all of them -- tell him you do know that your bank's offical "policy" frowns upon their "employees" looking for silver coins on "company time" don't you ? you are on "company time" while here at work are you not ? , here to serve the "customers" (like me) needs and wants .--the money is the "banks" money not yours --as such its open for customers (like me) asking for change , and I am "offically" asking for it, all of them.

yes the silver coins are valuible thats why I do bussiness here. -- now tally up the coins and let me know what its "face value" amount is so I can fill the check out for it --because unless you do , I 'm filing a "offical" complaint on you. --

did the bank tell the old lady that the coins were silver and thus worth much more than face value?
if not they were in the wrong -- fiscally speaking they have a "duty" to inform folks of the value of the silver coins (especially if its clear that there is a goodly number of them being transacted) --if the person says --I do not care --then the bank can intake the silver at face value --banks have a "duty" to be fiscally honest in their dealings with customers * -- the bank and or its employees generally speaking are not supposed to profiet off the loss of unadvised customers * as it is taking fiscal advantage of it patrons.

 

[jim4silver]

I understand why many here would want to file a "complaint" regarding this. But my question is, who do you think is going to "rule" on your "complaint"?.

This is not a matter for a judge or court, etc. Someone higher up than the manager will see this and decide what to do. I am not aware of any bank policies that entitle customers to silver coins or any customer returned coins for that matter. Further, all the banks I go to allow tellers to "cull" if they follow the guidelines, such as they must first sell it to another teller and then buy if from them, etc.

I would venture a guess that a highly probable outcome for the OP is that he makes his complaint, the higher up asks "what the heck is all this about coin roll hunting stuff about (or something like that)?", because surely when the bank employees tell their side of the story they will mention that the OP buys boxes of coins from them on a regular basis. Then manager decides tellers did nothing wrong and says "we cannot waste time and resources selling all these boxes for free, or taking all the dumps from these types of people, etc." So not only OP does not get the silver coins, but loses a good dump/buy bank where as he states the tellers regularly order boxes for him. But even if higher up scolds bank employees, he/she may still decide to make a new policy to not waste company resources buying boxes, taking dumps, etc.

Also, you are assuming the higher ups will BELIEVE the version that the OP relates to them. Not saying he is lying to us, but I can see the bank employees saying "it didn't happen like that..." to cover their backsides.

All you posters who want to write complaints should read a copy of Sun Tzu's "The Art of War". Great book that addresses strategies to be successful in battle, but further applies to business and other situations.

All just my opinion.

Jim

 

[ArkieBassMan]

I think what is worse than how the OP was treated, would be if nobody at the bank told the old lady that the coins were more valuable than face and she should take them to a coin shop. That is, assuming there were obviously present silver coins. I believe a bank has some fiduciary "duty" (maybe not legally but for sure morally) to its customers to alert them in such an instance if they are aware that the coins are old and valuable...

Gotta agree with Jim here.

Well, it happened folks, I was about an arms length away from the score of the century (i.e. - maybe even better than ABMs ginormous score last week, but probably not!!!) I was in a local branch that always saves half dollars for me and I get in there 5 minutes before closing to pick up my weekly order of dimes. The tellers are all sweethearts and I always bring them chocolates. At any rate, some old lady pushing 80 was with her grandson and they were cashing in over $2000 worth of old rolls of half dollars. The rolls were every color of the rainbow; ones I have never seen before and super old and tattered and had writing on them signifying the year and contents but it was hard for me to read them but I swear I saw good ones. One roll popped open while they were counting them and I thought I saw a 40%er or two in it. In passing I asked the old lady if that was someones collection and with a sad look she said yes, I actually feel bad about asking.

The tellers asked me if I wanted them and I said of course. The bank was closed so they said they need to finalize the counts and I could come in first thing in the morning and buy them. Trusting them because of our great relationship, I left and had visions of sugarplums in my head all night. Needless to say, but I was waiting in the bank parking lot 15 minutes before them opened. When I go in the tellers are acting kind of funny and the one girl who said I could buy them was all red in the face and flushed. I asked to buy the half dollars and she said we cannot sell them to you because the rolls were a mess and we need to "verify the counts". I could tell it was a canned response and she seemed really nervous so I offered to buy the rolls off of them for what they paid the lady and she said she couldn't because they needed to verify the count and said the branch manager told us this. I asked to speak with him and he was a bigger guy posturing over me with a real loud, intimidating voice saying we cannot sell you those half dollars until we verify the count of the coins in the rolls. I said the girls always sell me the half dollars and I would gladly incur any losses in any of the rolls were a coin or two short here and there. He said he wouldn't sell them to me. I informed him the tellers said I could come in first thing tomorrow morning and have them and then said isn't it bank policy to sell customers coins upon request if you have them? He ignored the facts and the question and said verbatim, "Listen, I know silver is over $40 an ounce and with that many rolls coming in we need to see and verify what is in those rolls." So you won't sell them to me? "Nope!" He abruptly left to his office and I asked the teller why and she was just shaking her head silently. Needless to say, I called the central customer service line and filed a formal complaint against the manager. I asked them if it was bank policy to have bank employees searching through rolled coin on company time, I also told them what he said about the price of silver and how I felt intimidated during the whole ordeal. We will see what happens...

Could have been the score of the century folks....

HH,

$ilver$urfer

I honestly don't know what I would do here. While I do believe that bank employees should have the first shot at any silver that comes their way, you were told that you could return the following morning to purchase the coins. However, the bank employee that told you this was overruled by a superior. A similar thing happened to me, although I have no idea if I missed any silver. I was told by a teller that if I would fill the partial bag of halves residing in their coin counter I could purchase it. There were several people in line in front of me to use the counter, and it was the slowest machine I have ever seen that jammed frequently. All told I waited over 2 hours to finally be able to fill the bag. After doing so, a different bank employee told me I could NOT buy the bag. I used every bit of persuasion I could come up with, but in the end I was not allowed to buy the bag.

What I am fairly certain of is that by filing a complaint, you will never be allowed to purchase coins at this branch ever again. It likely will effect bank policy for all branches of this bank in your area. Maybe you'll get the coins, and maybe it will be a big enough score that you don't mind losing future opportunities. Its also possible that you'll "lose" the bank(s) and still not get the coins.

I'm not condemning your actions. I honestly don't know what I'd do. If it turns out that they are in the process of attempting to return the coins to the old lady realizing her stash was worth way more than the face value she received for them, then I personally would just drop the complaint. Even though I'd really want the coins, I have an elderly grandmother and someone "looking out" for her in a situation like this would be greatly appreciated. If the branch manager simply wants them for himself, then I dunno. Generally speaking, I do not like "causing problems." The hassle and future ramifications of "making a fuss" usually aren't worth anything that can be gained by doing so - especially in this hobby. In most cases, I think its best to just move on. However, when I feel I have been genuinely wronged, I'll stand my ground and you can't budge me with a forklift.

Keep us posted.

 

[$ilver$urfer]

you'll get them, patience. and if not, then it was a nice dream and you'll ge tthe next ones.

Thanks bud, I sure hope so!!!

HH,

$ilver$urfer

 

[$ilver$urfer]

If you don't get those coins, you better fight it as far as you can. The bank managers actions and behavior are outrageous. I usually don't care about banks that are grabbing silver, but that was the most unprofessional thing I've ever heard. You should start a quest to ensure that this guy gets fired.

I just filed a complaint about how I was lied to, and what the manager said about silver and looking through the rolls. I just thought it was unprofessional, especially the tone and posture he had when talking to me. If he gets fired, it will probably be from an array of complaints or problems with his performance, not just my assessment (complaint).

HH,

$ilver$urfer

 

[$ilver$urfer]

I think what is worse than how the OP was treated, would be if nobody at the bank told the old lady that the coins were more valuable than face and she should take them to a coin shop. That is, assuming there were obviously present silver coins. I believe a bank has some fiduciary "duty" (maybe not legally but for sure morally) to its customers to alert them in such an instance if they are aware that the coins are old and valuable.

I know a couple of tellers personally, and they have said that whenever a customer brings in a batch of old coins that they recognize as silver (usually silver dollars and other 90%) they tell the customer and most of the time the customer listens. Occasionally they say the customer will say they don't care and just wants cash, then the tellers grab it for themselves (the tellers I know are all silver bugs and grab whatever they can get and I don't blame them).

Jim

I overheard the lady saying something about needing a cashiers check when they were done counting the coins, checks like that mean something important, although I am not sure what...

I don't care if tellers cull but none of these sweetheart tellers do, they always call me about halves and sell me their CW dimes too. I pick up two boxes of dimes from them weekly but never really find anything in them, usually just the CW rolls produce. I have been at this branch for two years and use it for one of my rental property deposit accounts and the manager has never spoken to me. The first time he does he super cedes a promise given to me by the tellers that I could buy them all in the morning. That's fine, sometimes that's the way the world works. I hope he finds lots of silver, actually I hope he is skunked but I don't think he will be! Point in fact, he was unprofessional, is doing something against company policy, and talked down to me during the whole ordeal (he's a big guy), that is why I complained. I will not be cut off from ordering at this bank, they tellers love me and they were all red and embarrassed when they had to tell me no. I will catch up with them next week and find out the real scoop on things.

HH,

$ilver$urfer

 

[mts]

I think what is worse than how the OP was treated, would be if nobody at the bank told the old lady that the coins were more valuable than face and she should take them to a coin shop. That is, assuming there were obviously present silver coins. I believe a bank has some fiduciary "duty" (maybe not legally but for sure morally) to its customers to alert them in such an instance if they are aware that the coins are old and valuable.

I know a couple of tellers personally, and they have said that whenever a customer brings in a batch of old coins that they recognize as silver (usually silver dollars and other 90%) they tell the customer and most of the time the customer listens. Occasionally they say the customer will say they don't care and just wants cash, then the tellers grab it for themselves (the tellers I know are all silver bugs and grab whatever they can get and I don't blame them).

Jim

Amen. I would have told the lady myself. I just don't see how someone can watch an old lady doing something that wrong, ask her about it, see the sad look in her eyes, and not inform her that she is making a big mistake. Sorry $ilver$urfer. But I couldn't bring myself to let an old woman make that kind of mistake solely so that I could come back and profit from it. If you had stopped her perhaps she would have sold them to you for a decent amount and both of you could have been happy? Even if she didn't sell them to me I could have rested easily at night knowing that I had kept an old woman from making a very serious mistake.

Now, some greedy bank manager has taken them and neither of you have benefitted.

 

[$ilver$urfer]

I think what is worse than how the OP was treated, would be if nobody at the bank told the old lady that the coins were more valuable than face and she should take them to a coin shop. That is, assuming there were obviously present silver coins. I believe a bank has some fiduciary "duty" (maybe not legally but for sure morally) to its customers to alert them in such an instance if they are aware that the coins are old and valuable.

I know a couple of tellers personally, and they have said that whenever a customer brings in a batch of old coins that they recognize as silver (usually silver dollars and other 90%) they tell the customer and most of the time the customer listens. Occasionally they say the customer will say they don't care and just wants cash, then the tellers grab it for themselves (the tellers I know are all silver bugs and grab whatever they can get and I don't blame them).

Jim

Amen. I would have told the lady myself. I just don't see how someone can watch an old lady doing something that wrong, ask her about it, see the sad look in her eyes, and not inform her that she is making a big mistake. Sorry $ilver$urfer. But I couldn't bring myself to let an old woman make that kind of mistake solely so that I could come back and profit from it. If you had stopped her perhaps she would have sold them to you for a decent amount and both of you could have been happy? Even if she didn't sell them to me I could have rested easily at night knowing that I had kept an old woman from making a very serious mistake.

Now, some greedy bank manager has taken them and neither of you have benefitted.

I guess I never even thought about telling her to take them all to a coin shop or offering to buy them myself...the thought didn't even cross my mind. Does that make me a bad person?

Since the transaction was already underway I just went about my business with my dimes and peeked over a couple of times while they were counting them and asked the old lady that question. If I had seen her in the parking lot, I might have asked about them and offered her to buy them. She was in the branch at least 10 minutes before I walked in at closing (5pm) and they weren't even close to being finished counted. The teller told me this morning that they finished counting at 6pm cause all of the rolls were off. Who knows, we are all making an assumption that the rolls were loaded with silver and there could have only been a modest amount in there. But something must have piqued the branch mangers interest so I am guessing they saw some or found some while "verifying the rolls".

At any rate, the same argument goes round and round on this forum, should we tell people that a half dollar, quarter or dime can be worth more than face value? We know that to be true, but not everyone does! If everyone knew, this hobby would not exist!

HH,

$ilver$urfer

 

[mts]

No, it doesn't make you a bad person. It probably makes you normal.

 

[jim4silver]

I guess I never even thought about telling her to take them all to a coin shop or offering to buy them myself...the thought didn't even cross my mind. Does that make me a bad person?
$ilver$urfer

No you are not a bad person. Although I have much respect for MTS, I disagree that you as a customer need to inform the old lady of her coins' value. Yes the bank tellers should have said something since the old lady is a customer and they owe her a duty in my opinion. If you were a coin dealer I would say you have a duty to pay a "fair" amount, whatever that is. Maybe that makes me a bad person, but it would be the same if I was at a yard sale and someone had valuable coins, I would buy them for the best price I could get. The caveat to this is if the seller was a friend or family member (that I liked ), then I would pay a more "fair" price.

In my opinion to say it is bad to do this would make CRHing in general bad if you keep the spoils. Just because you don't know who dropped off the coins that you find as a CRHer does not make keeping them any more or less bad than if you know who the depositor is.

Probably in hindsight what I would have done is walk over to her and offer her twice face and tell her you are a coin collector and would love the coins. She would have probably gone for that and would have got double what the bank gave her. Assuming there was some silver you would have made a gain.

Jim

 

[mts]

I guess I never even thought about telling her to take them all to a coin shop or offering to buy them myself...the thought didn't even cross my mind. Does that make me a bad person?
$ilver$urfer

No you are not a bad person. Although I have much respect for MTS, I disagree that you as a customer need to inform the old lady of her coins' value. Yes the bank tellers should have said something since the old lady is a customer and they owe her a duty in my opinion. If you were a coin dealer I would say you have a duty to pay a "fair" amount, whatever that is. Maybe that makes me a bad person, but it would be the same if I was at a yard sale and someone had valuable coins, I would buy them for the best price I could get. The caveat to this is if the seller was a friend or family member (that I liked ), then I would pay a more "fair" price.

In my opinion to say it is bad to do this would make CRHing in general bad if you keep the spoils. Just because you don't know who dropped off the coins that you find as a CRHer does not make keeping them any more or less bad than if you know who the depositor is.

Probably in hindsight what I would have done is walk over to her and offer her twice face and tell her you are a coin collector and would love the coins. She would have probably gone for that and would have got double what the bank gave her. Assuming there was some silver you would have made a gain.

Jim

I don't see a conflict between informing someone you meet face to face in a bank, and keeping the spoils of CRH'ing. Once that person leaves the bank, those coins are now bank property. I have no problem with buying silver at face value from a bank. It no longer belongs to the person who traded it in a that point.

 

[jim4silver]

I guess I never even thought about telling her to take them all to a coin shop or offering to buy them myself...the thought didn't even cross my mind. Does that make me a bad person?
$ilver$urfer

No you are not a bad person. Although I have much respect for MTS, I disagree that you as a customer need to inform the old lady of her coins' value. Yes the bank tellers should have said something since the old lady is a customer and they owe her a duty in my opinion. If you were a coin dealer I would say you have a duty to pay a "fair" amount, whatever that is. Maybe that makes me a bad person, but it would be the same if I was at a yard sale and someone had valuable coins, I would buy them for the best price I could get. The caveat to this is if the seller was a friend or family member (that I liked ), then I would pay a more "fair" price.

In my opinion to say it is bad to do this would make CRHing in general bad if you keep the spoils. Just because you don't know who dropped off the coins that you find as a CRHer does not make keeping them any more or less bad than if you know who the depositor is.

Probably in hindsight what I would have done is walk over to her and offer her twice face and tell her you are a coin collector and would love the coins. She would have probably gone for that and would have got double what the bank gave her. Assuming there was some silver you would have made a gain.

Jim

I don't see a conflict between informing someone you meet face to face in a bank, and keeping the spoils of CRH'ing. Once that person leaves the bank, those coins are now bank property. I have no problem with buying silver at face value from a bank. It no longer belongs to the person who traded it in a that point.

When you get silver coins from the bank thorough CRHing, you are still profiting from someone's lack of knowledge of the coins value and thus their loss is your gain, you just don't know who that person is and there is a middleman (the bank) separating you both. Yes it is more removed than the situation where you see the person dropping them off and wait till they leave the bank then you run over and buy them, but it is not wholly different in the sense you are profiting due to the same reason in both cases. I understand your moral view, but it would seem to me that if profiting off someone's lack of knowledge would bad in one instance it would be bad in both.

In your position a person sort of has an ongoing duty to everyone they see to let them know what their coins are worth. Let's say you are in a coin shop you have never been to looking around and someone brings in a coin that you know is worth $1000 generally speaking, and the store owner tells the person he will pay them $400. In that instance are you going to interfere and tell the customer that they could get more selling elsewhere? If you answer no, is it a matter of degree when you should inform the person re: the value of their coins?

Jim