The ugly coins

[jasonscoins]

This is a question for those of you who use machines to dump coins. I'm sure we've all had those coins that are smudged, scratched, bent or chipped, and usually these coins don't go through the machines. It seems about every 2 months, I have enough to wrap a pile of them up and take them back into the bank. Is this what you guys do with these coins? Also, I'm curious as to what the bank does with them. Do they open them right there, or do they ship them off to somewhere else, and they become somebody else's problem. Has anybody ever dumped so many abused coins in rolled-up rolls that they were cut off from wrapping them up and taking them to the bank?

 

[BuffaloBoy]

i toss them into a jar of mutilated coins, i will eventually reroll them.

 

[Spizzerinctum]

I spend them.

 

[SilverFace]

I try and use as many as I can in circulation - usually at fast foods restaurants. But they do start to add up pretty fast and I seem to have a hard time spending them as fast as I can find them lol. But I don't want to risk trying to dump them in the machines either. I don't search cents anymore so at least I don't have to worry about trying to get rid of those anymore.

Good luck and HH!

 

[jasonscoins]

Yeah, I usually take a pile of dimes into the bank (maybe $100 worth). I'm afraid they're going to open up those rolls and then see they're all crappy coins and tell me I can't exchange rolled coins anymore. I don't cheat them or anything like that, but I just wonder what the bank does with those coins. Do they open them, or just ship them off somewhere?

 

[CW3(ret) US Army]

Yeah, I usually take a pile of dimes into the bank (maybe $100 worth). I'm afraid they're going to open up those rolls and then see they're all crappy coins and tell me I can't exchange rolled coins anymore. I don't cheat them or anything like that, but I just wonder what the bank does with those coins. Do they open them, or just ship them off somewhere?

The banks around here will sell them to other customers who ask for the rolled coins.
HH
Gary

 

[SilverFace]

Wow how long does it take u to accumulate 20 rolls of damaged dimes? I guess dimes are the most common damaged coins so if you're doing a lot of volume it may not take too long to accumulate a lot of them. I would of thought banks would just open them and use them but 20 rolls of dimes is a lot so Im not sure. I remember feeling a little guilty about cashing in a few rolls of damaged nickels a couple of years ago lol. But remember the bank is where we get them from in the first place so they're just getting their own damaged coins back. Maybe if they notice they are damaged and ask u about them u can just tell them u got them all from banks but u cant use the damaged coins.

Good luck and HH!

 

[jasonscoins]

I do some good volume on dimes, and yes, they are plenty messy. You're right. I get them from the bank, so that means that other people must not be shy about turning in mutilated coins. It usually takes me about 2-3 months to accumulate $100 worth of damaged coins. Keep in mind though that I am very particular. If it has any kind of nick or dent, I don't dump it in the machine for fear that if I break the machine, they'll tell me to get lost.

Wow how long does it take u to accumulate 20 rolls of damaged dimes? I guess dimes are the most common damaged coins so if you're doing a lot of volume it may not take too long to accumulate a lot of them. I would of thought banks would just open them and use them but 20 rolls of dimes is a lot so Im not sure. I remember feeling a little guilty about cashing in a few rolls of damaged nickels a couple of years ago lol. But remember the bank is where we get them from in the first place so they're just getting their own damaged coins back. Maybe if they notice they are damaged and ask u about them u can just tell them u got them all from banks but u cant use the damaged coins.

Good luck and HH!

 

[dirtdigginfool]

While I dig most of my coins, I find that a lot of the zincolns do not hold up well underground, and develop holes and rough edges from deterioration. While I have enough of these rough units for several rolls, I too, am not sure how the clerk would act after cracking them open. I guess I might take a few to the bank and ask them...maybe get them replaced like damaged paper money..? thx for sharing, interesting thread, enjoyed it..different..ddf

 

[SilverFace]

I wish the banks would monitor the use of the coin machines a little closer. It seems so many people use them as both a combination coin counter and trash disposal. Its aggravating when other people damage the machines by clogging them up with trash and debris and they are out of order when Im there with my clean undamaged coins to dump. That's the good thing about us CRHers who use coin counters, we may use them more frequently than most other people but Id say the coins we dump are much cleaner than the coins of the majority of other people who use them.

You know I just remembered about a month ago someone had actually put a wadded up $1 bill in one of the coin counters I was using. I told one of the tellers and she opened the machine to get it out.

 

[mercury1]

My banks usually sell the rolls I bring them to other customers although sometimes they dump them in bags and ship them out. I roll all my dimes so it's easy to get rid of damaged or nasty dimes. I've found with the bent ones it's best to spread them out or you end up with rolls that are so long they can be difficult to fold over the ends. I roll dimes because I'm limited in the face value I can put through machines. I only dump cents and nickels in the machines and don't have to worry about dimes counted as cents. For those of you that run dimes through the machines and end up with a bunch of damaged dimes, I suggest when you get a box, roll them, slipping a few damaged dimes in each roll, swapping them for undamaged dimes. Then take this rolls to the bank and trade them for cwr that other people have brought in. Sometimes the cwr really produce.

 

[Dozer D]

I rim & date check all my dime rolls/bags. I pull out the bent damaged coins and spend them in the wild as pocket change. I don't let them accumulate that way I only have less than $1 of coins to get rid of each week. I don't take them to the bank for : 1)they could jam the machine thus wasting my time waiting to get fixed, 2)bent coins won't go thru the sorter therefore I don't get the credit for them cuz they eventually get into trash/bent coin bin located deep inside the machine, 3)I make it a point to tell the head cashier that I date check all my coins, and extract bent/damaged/sticky coins so they wont damage or jam her machine. So far have had NO problems at the banks.

 

[Yinzi50]

Good topic!

Three of the coin counting machines in my neighborhood were damaged to the state that they "steal" half dollar coins from me. These branches have no incentive to fix the machine because all other denominations work just fine and the machine will "earn" money for the bank from me. So I lost three potential dumping banks for halves. I still dump other denominations at these branches.

I suspect that mutilated halves caused this behavior. So now I am very careful to pick out any mutilated ones (especially half dollar) before dumping to protect the machine mainly for my own benefit ( a broke machine wastes my trip time and a cheating machine steals my money). Then I go to my favorite branch and ask the teller to exchange them directly from the coin bag during bag change. I've told them by handling the mutilated coins this way will avoid damaging the machine. They happily comply.

 

[CW3(ret) US Army]

My banks usually sell the rolls I bring them to other customers although sometimes they dump them in bags and ship them out. I roll all my dimes so it's easy to get rid of damaged or nasty dimes. I've found with the bent ones it's best to spread them out or you end up with rolls that are so long they can be difficult to fold over the ends. I roll dimes because I'm limited in the face value I can put through machines. I only dump cents and nickels in the machines and don't have to worry about dimes counted as cents. For those of you that run dimes through the machines and end up with a bunch of damaged dimes, I suggest when you get a box, roll them, slipping a few damaged dimes in each roll, swapping them for undamaged dimes. Then take this rolls to the bank and trade them for cwr that other people have brought in. Sometimes the cwr really produce.

For my bent coins, I have a 2 lb sledge hammer that works fine. A couple of hits with that & no more bent coin. The coins are still the same dimensions & fit easily into rolls.
HH
Gary

 

[CW3(ret) US Army]

Good topic!

Three of the coin counting machines in my neighborhood were damaged to the state that they "steal" half dollar coins from me. These branches have no incentive to fix the machine because all other denominations work just fine and the machine will "earn" money for the bank from me. So I lost three potential dumping banks for halves. I still dump other denominations at these branches.

I suspect that mutilated halves caused this behavior. So now I am very careful to pick out any mutilated ones (especially half dollar) before dumping to protect the machine mainly for my own benefit ( a broke machine wastes my trip time and a cheating machine steals my money). Then I go to my favorite branch and ask the teller to exchange them directly from the coin bag during bag change. I've told them by handling the mutilated coins this way will avoid damaging the machine. They happily comply.

You're lucky they will do that for you. My dump banks tellers aren't allowed to go into the bag when it on the machine or after they take it off the machine. They have to seal it up right away. Everything is filmed & they could get fired if they did go into the bag. It kills me sometimes because I could see silver in the bag I would gladly swap out with if I could. In my 3 years + of crh, I've only run across a dozen half dollars that have been slightly bent & not accepted by the machine. I have a 2 lb sledge hammer that I've used to straighten out the coin & the machine has taken them then with no problem.
HH
Gary

 

[Yinzi50]

You're lucky they will do that for you. My dump banks tellers aren't allowed to go into the bag when it on the machine or after they take it off the machine. They have to seal it up right away. Everything is filmed & they could get fired if they did go into the bag. It kills me sometimes because I could see silver in the bag I would gladly swap out with if I could. In my 3 years + of crh, I've only run across a dozen half dollars that have been slightly bent & not accepted by the machine. I have a 2 lb sledge hammer that I've used to straighten out the coin & the machine has taken them then with no problem.
HH
Gary

Yes, Gary, strictly speaking they should not put their hands in the bag.

This actually was inspired by a teller manager. Once I handed over $5 mutilated halves to a teller ask to send them to the Fed(mint) for destruction. Next week I saw the coins were gone and I asked what happened. She told me that the teller manager simply swapped them from a full bag before sealed the bag and sent them away. Then some other guy bought the swapped ones from her tile. The bank never bother to handle the mutilated coins separately for destruction as per book.

So later on I ask all my favorite dump banks to do that and most comply. I do make sure that every teller/manager involved realize that we are protecting the machine by not letting the mutilated coins go through the machine. After all there is no moral principle being violated and if questioned the act is definitely defendable. There is a very little bit risk involved but not much. It's like asking someone to drive 5 miles above speed limit in a non-school zone. I regularly bring chocolates to reward their courageous behavior though.

 

[MIhunter]

I put all the coins I want to dump through the coin counter unless they are magnetic
99.99% of the coins are accepted by the machine at the correct value.
Those coins that get rejected I spend.

I used to pull out damaged coins to give to the banks to return to the Fed.
But most tellers are interested in providing that service.