Coin counter bag

[Cat J]

Remember that bag I got last week from the new bank with the coin counters. I have now been to all of the branches and finally hit the last branch today. Meet the manager who came out to help me with the half dollars and change the bags. We started talking and I could see he was really watching the bags of half dollars. He said... boy it must have taken you a long time to save up all these halves. I must have given him a funny look.... I told him no I had just picked them up at the bank yesterday. OH he said... you won't find anything in Brinks rolls they go through them and pick out all the silver. I said... OH REALLY!.... I had just found a bunch of silver. He then tells me he goes through all the bag when he takes them out of the machines before he lets Brinks pick them up. Then he tells me he got 200 dollars worth of silver out of the bag I bought right before I bought it. Then to make matters worse he does not even save it he sells it all to the coin dealers as soon as he finds it. So I told him have fun going through all the ten boxes I just dumped on him and I hope he finds something.

LOL
Cat

 

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[Sheldius]

By all the silver ones, hopefully he means all the pre 1964's. That's what alot of bank people do. At least it leaves some for us.

HH.

 

[fatsmahoney]

actually they arent allowed to do that i would call the corporate offices of the bank and inform them that this type of practice is happening bank tellers are not allowed to purchase currency for the intent of profit from their place of employment its a form of extortion

 

[jewelerdave]

Make yourself the middle man.
I ask what the coin dealer pays, and tell him you can do a bit better. That way you can still profit from it, make yourself the coin dealer

 

[markmopar]

Excellent idea.
I've been buying coins from a local collector whose daughter runs an antique store. Her father gives her the coins with a note showing his price. So far everything he's sold has been less than half melt value.

 

[Cat J]

Actually I gave him my card and told him I would pay him what the coin dealers would pay him and I would drive over to get them he would not have to deliver. He said he would call me and sell them to me instead. He did say the coin dealers were paying him $6.00 for each 90% and no they informed him about the 60% ones so he gets those also.

Hope he calls me instead.

Cat

 

[XX]

actually they arent allowed to do that i would call the corporate offices of the bank and inform them that this type of practice is happening bank tellers are not allowed to purchase currency for the intent of profit from their place of employment its a form of extortion

That's a very bold statement that happens to be untrue in most cases. Banks require dual controls at all times, but there is nothing that prevents the employees from utilizing their own bank the same as customers do. Sure, an employee cannot process their own transactions, but anything the customer can do, an employee can do.

 

[packerbacker]

$6 is pretty high to me. One of our dealers here was only offering $5.50 when silver was at $20.13. He was offering $2.50 for the 40's. You may want to find out which dealer it was in case you decide to get rid of some yourself.