I am a bank teller. I have worked in a hand full of different banks, each bank doing things a little different with coin.
Yes is it true, it costs the banks quite a bit to take in large amounts of coins from customers. The main reason for it costing the banks so much is because of most people (not normally collectors) don't look through the coins before bringing them into the bank. Things like teeth, bullets, nails, screws, pins, and any other type of foreign objects, can really do a lot of harm to a coin counter. The last bank I was at, after we ran the coins through the counter for the customer, after the customer left we would have to count all those coins by hand and hand roll them making sure there wasn't any foreign coins. The amount of time it takes to do all that really adds up. Also depending on the amount of coin that can take a teller away from the teller line for large amounts of time.
Sadly with rolled coins, too many people that aren't honest have messed things up for everyone else. All too often customers or non customers bring in rolls that have been shorted in one way or another. Not putting enough coins in a roll on purpose, using washer to make it look like there are coins in the roll, putting a piece of pipe in a coin rapper with real coins on the end, or using the wrong denominations in the rolls. It all adds up, so banks try to avoid the losses. Some banks have you put your account number on the rolls, but that isn't suggested anymore because of security, and the risk of someone else getting your account number.
Yes is it true, it costs the banks quite a bit to take in large amounts of coins from customers. The main reason for it costing the banks so much is because of most people (not normally collectors) don't look through the coins before bringing them into the bank. Things like teeth, bullets, nails, screws, pins, and any other type of foreign objects, can really do a lot of harm to a coin counter. The last bank I was at, after we ran the coins through the counter for the customer, after the customer left we would have to count all those coins by hand and hand roll them making sure there wasn't any foreign coins. The amount of time it takes to do all that really adds up. Also depending on the amount of coin that can take a teller away from the teller line for large amounts of time.
Sadly with rolled coins, too many people that aren't honest have messed things up for everyone else. All too often customers or non customers bring in rolls that have been shorted in one way or another. Not putting enough coins in a roll on purpose, using washer to make it look like there are coins in the roll, putting a piece of pipe in a coin rapper with real coins on the end, or using the wrong denominations in the rolls. It all adds up, so banks try to avoid the losses. Some banks have you put your account number on the rolls, but that isn't suggested anymore because of security, and the risk of someone else getting your account number.























