Bank claims it is illegal to give out CWR, in fact illegal to accept them

[Ben Cartwright SASS]

The Rockland Federal Credit Union told me when I opened a free account there today that it is illegal to give out CWR and in fact it is illegal for customers to bring them in since 9/11.
I have never heard that anywhere else. BUT they had two coin counting machines, a normal one and an industrial strength one that are free to depositors and no limit on how much at a time so they are my new dump bank.

 

Amazon Forum Fav 👍

How to Research for Treasure Hunting and Metal Detecting From Lead Generation to Vetting - Grab it through Amazon!

[Tommybuckets]

I too have been told what I am doing 'IS ILLEGAL!" but the teller said I'll give them to you this time. It was just a dump and/or the teller had sniped any good coins lol. I just avoid that branch now since I've gotten plenty of halves but no good ones there. How much is too much? After I visit a branch several times and have picked up $500-1000 or a dozen visits with no silver I think I should start dumping there. I have some branches that have never produced in 3 years but I still stop by since the tellers are friendly.

 

Amazon Forum Fav 👍

Cry Of The Eagle: History And Legends Of The Cherokee Indians And Their Buried Treasure - Grab it through Amazon!

[Ben Cartwright SASS]

My opinion is that BWR are getting better or at least no worse as more banks force customers to use the coin counters and they dump silver in them which then goes to the Fed and or places like Brinks and then back to the bank as BWR.
I got 20 BWR and found 30 Rosies in them.

I just picked up 10 CWR rolls of quarters that the teller said "a older woman in her 80's dropped these off" yeah and I have a bridge to sell him!

 

[port ewen ace]

if you buy CWR's, always run a magnet over 'em, some custies are CROOKS ---short rolls
cents in dime rolls
foreign crap
the worst are Loonies in dollar rolls
road kill & lawnmower coins

easy fix is banks mandate an acct' # on CWR's to weed out the scammers--
BUT-- the reward will always beat the losses, so guess we just gots ta accept that a crook just walked out as you walked in

 

[Ben Cartwright SASS]

I will take what ever CWR they want to give me as more and more banks around here won't give them out, and if you complain that they may be short or being scammed they will do what a local bank did, refuse to give them out citing that they may be short and they don't want to give out bad rolls even when I say I am willing to take the chance.


Oh BTW I was skunked today

 

[Dozer D]

Never heard of such a ruling on distribution of coins.

 

[tanz 82]

Yah TD bank in my area won't give out CWR either but citizens will

 

[Ben Cartwright SASS]

tanz
This is interesting since the TD here does give them out. It all seems to be branch by branch