I Have a Good Idea.

[Higgy]

I've never been a real social person. You couldn't get me to join the volunteer fire department or do any community service. I'm a stay low and grey and out of the way sort of chap. So having said that, I am marveling over the fact that I thought of this. I do have a streak of altruism cross my path once in a while!

It may have already been done. It may already be in place, so just bear with me.

Let me lay my idea on the table. What if we formed a club or association for MDers to join, in which we will donate to a suitable charity, all of our crappy, cruddy, and otherwise useless coins?

I am operating on the premise that even while damaged, the US Treasury/Government has got to take in that money and replace it. Am I correct? I've heard of banks not taking in bad coins, but there must be some way of turning over some of our finds for a good cause.

I came up with this, thinking about how many people just toss zincolns in either the garbage or a can and ignore them. They will never cash them in, nor will they ever be of any real value to the MDer.

Think of a central location where coins are deposited, washed, and rolled. The rolls then are sent to the .gov - wherever they do this sort of thing, and the proceeds sent to the charity.

This could add up to some serious cash, and actually PROMOTE our hobby as legitimate and honorable. Despite the simpletons on TV, we may actually come out ahead.

What say ye, Starbuck? Are you willing to donate your worthless zincs and crappy-beyond-belief clads for the chance at making a difference both in our hobby and for the lives of others who need our charity?

Like I said - just an idea. Do with it as you wish, and please discuss!

 

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[Dave44]

I would do it. Be nice if all of the change could be done locally though. I can't imagine what the shipping charges eating into the charity would cost.

 

[StormSurge]

Higgy you may be on to something. I know I'm not the only one who cringes at throwing things in the trash or realizes that a little bit of something just isn't worth holding onto till I figure out what to do with it. I'm sure that a lot can be added to this idea of yours by the members. I would gladly stop throwing away found deteriorating zincolns if it can help someone out.

 

[RustyGold]

Sounds like a great idea!

 

[Higgy]

I would do it. Be nice if all of the change could be done locally though. I can't imagine what the shipping charges eating into the charity would cost.

Yeah shipping would be a big negative variable in this.

 

[Higgy]

Higgy you may be on to something. I know I'm not the only one who cringes at throwing things in the trash or realizes that a little bit of something just isn't worth holding onto till I figure out what to do with it. I'm sure that a lot can be added to this idea of yours by the members. I would gladly stop throwing away found deteriorating zincolns if it can help someone out.

Yeah! I mean we already save aluminum pop tops for some kind of charity, right?

 

[Higgy]

Sounds like a great idea!

Bikers got a bad rep back in the day, so they started organized rides for a cause to improve their image. Why can't we do something similar?? Win/WIN!

 

[CincinnatiKid]

I agree that shipping costs will be high unless localized. But hey, what do ya get for nuthin'.
Count me in.
Peace ✌

 

[Dave44]

So it would be great if we could take this change to a " partner" type of vender that has the ability to cash it or exchange it at one of the reserves? Then we, or the vendor, could wire or forward the money to a central location for distribution to the charity du jour.

I am not sure yet but I think a vote which charity? If there was enough to distribute to various GOOD charities.

 

[Dave44]

How hard would it be to change it to start with? Can't be a recycler because it is current legal tender, right? Even if it is bits and pieces of zincolns?

 

[Phantasman]

Probably would have to set it up with someone who is local everywhere. If the Shriners main office accepted the "donations" at each lodge, you could set up a partnership that way. Shriners are a good org that helps pay for little ones medical expenses and research.

 

[Old Dude]

If I am not mistaken, the only way to cash in Zincolns is to take it to the U.S. Mint in Philadelphia. Since most people would have to mail them in order to get theirs to the mint, and weight is pretty much what determines the cost of shipping, it is not a feasible thing to turn your zincolns in for reimbursement. It would cost you more to ship than you would receive. That's why most people toss theirs in the trash, or bury them again in their local MD hotspot for others to find, lol.

 

[cw0909]

thats a great idea. the logistics for redeeming the
uncurrent coins,should be only a small prob,as most
banks wont do it,only the FRB
the cost for shipping to redeem Mutilated coins,im
sure we can fig something out. like most of us travel
maybe a yearly or 2 yr roundup at X locals, and keep
moving until it reaches philly
may have to set up a 501(c)(3),any lawyers reading here
could you chime in
nice thread hope we can make this work


Exchange of uncurrent coins.
(a) Definition. Uncurrent coins are whole U.S. coins which are merely worn or reduced in weight by natural abrasion yet are readily and clearly recognizable as to genuineness and denomination and which are machine countable.
31 CFR 100.10 - Exchange of uncurrent coins. | LII / Legal Information Institute


Federal Reserve Branches
FRB: Addresses and Phone Numbers of Federal Reserve Branches


QUESTIONS AND ANSWERS ABOUT
UNCURRENT AND MUTILATED COINS
http://www.usmint.gov/email/mutilatedcoin.pdf

 

[slink]

Bikers got a bad rep back in the day, so they started organized rides for a cause to improve their image. Why can't we do something similar?? Win/WIN!

and it worked.........except back in the day people would drive a little more careful around bikers because they feared being murdered.I miss that!

 

[ARC]

Higg...
here is a name for it...
CCC... Cruddy Coin Crusaders... heh

 

[ARC]

CCCC = Cruddy Coin Crusader Club

 

[cw0909]

payment

7) How will I be paid for these mutilated coins?
You will receive a check for your coins or direct deposit to your bank account if you
complete a SF-3881, ACH Vendor/Miscellaneous payment enrollment form.

Denomination Category: Rate per Kg. / Lbs.
a) Cents, both copper and copper zinc. $3.21 $1.45
b) Nickels $9.99 $4.50
c) Clad coins(dimes, quarters,halves) $44.09 $19.84
d) Dollar(Susan b.Anthony,Golden Dollar) $123.46 $56.00
http://www.usmint.gov/email/mutilatedcoin.pdf

 

[cw0909]

CCCC = Cruddy Coin Crusader Club

vote yea

 

[signal]

This could work if you somehow partner with a BANK or a few banks. Something like Bank of America, TD, etc, one of the big ones.

If we could just bring our finds to one of the branches, and they would give us a receipt, then it could work. We do it for free, Bank does it for free, and the charity WINS. Banks may be looking for some altruism too. And who is going to give money for free? US!

At least the banks could logistically consolidate and move coin.

I would definitely do it. I have no use for the tons of cruddy zincolns I pull from the beaches........if it doesn't pass through the coin counter, I put it in a bag........I would gladly donate that bag. Even if it doesn't amount to much money its still a good point, gives a good picture of our hobby and what we are doing. What are are mostly doing, is cleaning up garbage (IMHO).

 

[StormSurge]

According to their website the U.S. Treasury "is the only place that handles the redemption of damaged coins". But it would seem that banks would have something set up. If not then the U.S. Treasury gets damaged coins from a lot of individuals, stores, banks, etc. or a lot of these places only get a few and who knows where they all go, in the trash? It would seem that a buck here a buck there from all of these places would certainly add up to a hell of a lot of money left stuck in a drawer or perhaps thrown away, not to mention a lot of people just hanging on or trashing already trashed coins.
I have no organizational skills and have no clue if this is even feasible but it sure is a good idea to try to make something like this work If possible. As far as where or who to donate it ? I think that it would have to be Really appealing to the masses to get a lot of folks on board. A few trashed zincolns would just be treasure to some of us. It would have to be someone or something that would directly see the benefit for some to let a few pennies go. Not a lot of beuricratic Personally I'm all for helping those in need out. I would buy a meal or give someone living on the street $20.00 in a heartbeat but not the guy begging for it on the street corner. I've seen what some of them do with the money they panhandle. And don't even get me started on the money collected for cancer research, billions of $'s donated. What a thriving industry!

Didnt mean to get off topic I would love to see something like this work.