Incredible dumping experience!

FormerTeller

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Apr 24, 2011
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Stopped by the bank today on a Friday morning - unusual for me. Needed to dump a couple thousand in halves in the machine. It's not a problem at this bank; I have the manager's blessing and am very friendly with all the tellers. Was in the middle of my first 1k bag dump when an older gentleman came in with a couple of jars of coins. I told him I'd let him use the machine once it cycled through, as I try not to inconvenience the other customers. He was appreciative, and I stood off to the side while he started trying to work the machine. I could tell he was having trouble with it, so I started to offer to help when he dumped his first jar of coins in. *Tinkle Tinkle Tinkle* I heard the unmistakable sound of silver! Before I could get there one of the loan officers stepped up and asked if he needed help with the machine. The loan officer took one look at his coins, and motioned me over (he knows I collect, and like I said we're all on good terms). The old guy had a hand full of coins, and I could see walking liberty half dollars! I told him he shouldn't put those in the machine, as they were worth considerably more than face value. I asked him if he'd consider selling them to me, to which he replied "sure"!

Like I said, he had already dumped a bunch in the machine, but the loan officer was a trooper! He got a key to unlock the machine (it's the type where you can't access your coins after you put them in even if the machine hasn't started), and told us to use his office. The gentleman and I poured his coins out on the table, and I about had a heart attack! Walkers, mercury dimes, and wheat cents galore! :o Even a few Barbers and Indian head cents mixed in, along with a bunch of clad.

I started separating out the good stuff from the bad stuff, explaining why each was worth more than face. When I was done, we ended up with about $21 face value in 90% silver, about 7 or 8 40% Kennedy halves, and probably 40 cents - mostly wheat, with a few Indian heads. Oddly enough, no war nickels. I told him that the silver value was about 10x face value, and said I'd give him $230 for what I had put aside. He said, "SOLD!"

:hello2:

I figure I gave him pretty close to spot; maybe a little less, but not by much. I was too rattled to try to nickel and dime him, though I'm sure I could have gotten them much cheaper. Turned out to be a good decision, I think, because while we were separating and talking, he mentioned how most of these were his late wife's coins, and how she had stored them all in little bags and boxes. He was in the process of moving out of state, and while cleaning out the house just dumped most of the coins into a jar to take to the bank. He asked me if I collected silver dollars, noting that he had a couple dozen still at the house. Then he asked if I collected "funny money". I pulled out a worn silver certificate that I carry around with me, noting that I used it to show tellers what to save for me. He said he had several silver certs and other funny money, which by his description I took to mean they were error dollar bills. Unfortunately, I was using the machine today to raise cash for a vacation tomorrow, so I can't meet with him until after Christmas, but we plan to get together in a few weeks to see what he's got, and hopefully conduct another transaction. He was thrilled to get $200 more than what he had planned, so I'm crossing my fingers!

I haven't had time to go through all of them yet, but have been very hopeful by what I've seen so far. I'll update when I've got the final tally, as well as if we make another deal.

It's still out there!

FT
 

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Upvote 0

Liu21

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Right time right place, got you a good Deal.
 

barneyb71

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That's a great story....way to save those coins from going to the coin factory.
 

port ewen ace

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Dec 16, 2012
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a story with 2 winners. your integrity was rewarded and you made a friend:-)
 

Chizzy

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"Chance favors the prepared.........", in this case "collector"............Congrats!!
 

Zomotion

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Great story! Way to step up on the offer
 

Gold Maven

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Good score, and nice job for paying a fair price.

Amazes me that people don't know the value of silver, especially after being married to a collector.
 

CC-Hunter

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Sep 18, 2012
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Well done. I would have paid the man the same thing under those circumstances - it is a fair price and you can live with yourself.

You really do have a great relationship with that branch.
 

mxh5891

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Great story...wasn't sure how the post was going to go based on your title.
 

Guest 1551

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kudos to you AND the manager!
 

Graciegirl

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That's a nice holiday story. You did a good thing for someone who didn't know any better. That is the true Holiday spirit. Congrats.
 

Bquamb

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Super interested to see what else this kind o0ld gent may have!
 

OP
OP
FormerTeller

FormerTeller

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Apr 24, 2011
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Update with final tally: The finds were better than I had hoped.

15 Walking Liberty halves, all 1940's
8 40% silver halves
4 Barber quarters - 1892, 1908D x2, 1916D
2 standing liberty quarters - 1920, dateless
28 silver Washington quarters
2 Barber dimes - 1901, 1912
25 Mercury dimes - 1925 (Fine), 1926, 1928, dateless, and 21 from the 1940's
2 Indian head cents - 1863(!), 1901
70 wheaties - 1909 VDB (Very Fine!), 10, 11, 16, 17, 17D, 17Sx2, 18, 18D, 19x4, 19D,19S, 20x2, 20D, 21, 23, 24, 25, 25D, 26, 27, 27x2,28, 29x3, 29S, 30D, 32, 16x 30's, 16x40's, 3x 50's

:wav:

Oddly enough, no Franklins or 1964 Kennedy's. I shudder to think what else he may have turned back in to the bank prior to my meeting him. I was blown away at finding the 1909 VBD - my first! Unfortunately, the 1863 IH has corrosion, but most of the rest of the wheat cents are in Very Good or better condition.

He did call me when I got back from vacation, just before New Year's, and I met with him again for another, larger purchase. I'll save that for another post later this week...>:D

Thanks for the comments, and HH!

FT
 

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maverick

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Wow! I just got to read your post post here FT sorry I'm late to the game, just incredible!! Can't wait for the continuation! HH, Maverick.
 

Styfflin

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I was thinking about the continuation of this post as well. For as much time as I spend in banks, you'd think I could catch some old-timer with a mason jar of silver in his hands. One of these days...
 

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