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 Replies: 21 / Views: 3,211 |
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Valued Member
United States
408 Posts |
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Pillar of the Community
 United States
4333 Posts |
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Where in the US are you? Michigan When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
4897 Posts |
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most of my banks cannot knowingly accept collectible silver coin in exchange for FRN's, and have to refer customers to cash-for-gold places or the local coin dealer.
Why? That makes no sense at all. Of course they can exchange it for face value. It is after all just U.S. coinage....  |
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Pillar of the Community
United States
858 Posts |
Very odd that the bank would allow this.
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Pillar of the Community
United States
3184 Posts |
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Bedrock of the Community
United States
10982 Posts |
A local bank in a town I used to live in (Iowa) did this once a year.
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Pillar of the Community
967 Posts |
My local bank has people come in to offer free coin appraisals about twice a year. They will even offer to take them off your hands for probably about 10% of what they are worth. I have never been to see them. It would be interesting to take a few coins in and see what they they would offer for them. Or just go in and offer everyone that came in 20% instead of the 10% of value that these guys offer.  Still Lookin |
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Pillar of the Community
United States
1119 Posts |
I think $1000 is a bit pricey for a dime bag, no?
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Valued Member
United States
125 Posts |
That's never happened at my banks, but all of my banks have at least one teller who is checking for silver and other keepers.
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Bedrock of the Community
United States
19964 Posts |
That is strange....I guess the bank gets a cut, a huge red flag for anyone with a brain selling. I'm sure they're offering WAY off of melt.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
863 Posts |
"I think $1000 is a bit pricey for a dime bag, no?"  |
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Pillar of the Community
Canada
937 Posts |
Up here we don't get those gold/silver guys in the banks, thank goodness, but we do see them in the malls all the time. They just move town to town, slap up big advertising posters, and suck eveybody into selling their old coins for a cheap few bucks instead of letting them roll it up and and sell it to the bank where good roll hunters can have a chance at it! (lol) It ticks my local coin dealer off because he's willing to pay more for scrap than these mall guys, but people seem to want to wait for the next gold/silver show instead of selling to him. For some reason they seem to think that a gold/silver "Roadshow" is more credible and will give them the best price for their stuff. No matter that my dealer has been a local businessman for 30 years, these customers "know" that they'll do better in the mall. Like ducks lining themselves up for a target shoot. Makes me think of becoming one of these silver buyers myself...
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Pillar of the Community
United States
4333 Posts |
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Makes me think of becoming one of these silver buyers myself... Me too, and I'm willing to pay more than the coin dealers. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Bedrock of the Community
13014 Posts |
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Why? That makes no sense at all. Of course they can exchange it for face value. It is after all just U.S. coinage.... Agreed. The only reason they couldnt would be as a policy of the bank which probably gets kick backs from the cash for gold place on coins they send over to them thus giving the bank free money. Just a very very shady operation in general and couldnt agree more with those that said they would find a new bank |
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Pillar of the Community
United States
4333 Posts |
Thanks for all the feedback!
One bank that educates customers on the numismatic value of coins does not have a cash for gold buyer in their bank. Comerica bank (as in the new Tiger Stadium, Detroit). Even though I don't care for their policy, (which means less silver in circulation for us), I think they may be genuine. And like I said, the cash for gold bank still gives up the silver to me in roll finds, thanks to the non-picking tellers.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Replies: 21 / Views: 3,211 |
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Posted 08/23/2012 7:14 pm
