US Bank Foreign Coins?

[MrSchulz]

I went to my local US Bank today where I go any buy rolls each day. The teller saves me any halves that come in, odd bills, dollar coins, silver, wheats ect, and I buy them at face. (Some home cooked treats go this to work). Anyway it popped in my head that I want to save foreigns. I asked her "If you get any foreign coins in, such as canadians, I would like to buy them from you." She said i'd like to, but I can't sell them since they are not US Currency. We have to send them back to the reserve (or whatever they send them to I can't remember what she said). Now wanting to be rude, since she has gave me lots of silver these past few months, I said oh thats fine I understand, thanked her for the rolls, and left. I was just thinking, I find Euros, canadians, australian coins, turkey, brazil, all those in rolls from there bank. Didn't they just sell me the coin? I don't understand that. I mean I know tellers dont have time to search them for foreigns, but then why can't I save them a hassle of sending them back to the reserve, and buy them at face? Thoughts? Happy Hunting

 

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[Codes]

What type of rolls are you getting from that bank?

In the case of machine-rolled coins, no one can search those so obviously there is no way of knowing what they are selling you. If the coins are hand-rolled, its possible that a customer rolled them up and a bank employee didn't check the contents.

 

[Solid Rolls]

An American Quarter is not worth the same as a Canadian Quarter which isn't worth the same as a Euro Quarter and so on and so forth. U.S. banks cannot (at least to my knowledge) knowingly sell foreign currency. Just like a foreign bank cannot (again at least to my knowledge) knowingly sell U.S. currency.

If you really want to buy foreign coins at face check eBay. People sell their foreign finds their all the time.

 

[usernameerror]

Most banks accept CWRs based on an honor system. They assume that the customer put the correct amount of coins in each roll and sell the rolls under that same assumption.

 

[Solid Rolls]

Most banks accept CWRs based on an honor system. They assume that the customer put the correct amount of coins in each roll and sell the rolls under that same assumption.

Exactly.

 

[Sleazyj]

One of my local banks says they throw them away. I asked for them to save them but they never do. I just can't think they would throw away a nice Morgan or even a forgin silver

 

[Generic_Lad]

Most banks simply don't have a place where the US currency for the foreign currency would go. Most likely some of the chain banks have places where they send the foreign coins but for some of the smaller banks there is a problem:

The foreign coins are essentially held in "no-man's land" (or the trash) there is simply no easy way of just "getting rid" of the foreign coins by replacing them with US coins. Really the only options are giving them away or throwing them away (or sending them in to do currency exchange) since most people at the bank aren't "coin people" your best bet for foreign coins is to go to smaller banks and credit unions and ask them (once you've done some business there of course!) usually these banks are much friendlier and although they are worse for boxes, you might be able to get more unusual things there.