Open Silver Mining By Tellers

You know we would all do it if we worked at a bank lol.

Never go to a bank that has a avid collector on the telling staff!
My sister used to be a teller, and she has been collecting most of her adult life.
When she was working for the bank, she would vacuum up anything of interest!
And she had the whole staff on the lookout for her!

From 1980 until 1994, Australia issued a series of NCLT $200 gold coins. When they were originally issued, they had less than $100 worth of gold in them. The were grossly over issued, and they were cashed into the bank in later years, when the melt value was still way less than the face value. Lots of folks just wanted their $200 back, and because they were legal tender, the bank was obliged to accept them.

My sister over a period of about five years, whenever she could afford to, bought them off the bank at face value.
She was thinking that at the very least, she would not loose much, except for inflation.
Currently, each of those coins is worth over $450 in melt value alone. She even has a few proofs of the sub series 'Pride of Australia', and some of those had combined mintages proof and uncirculated as low as 8,000.

^
Storys like that make me really, really dissapointed.

Key word: If.

If the bank's internal policies allow them to do this, and they pay the bank 50 cents for each half-dollar they take, I don't see a problem.

We have a few cashiers on CCF who collect coins they buy out of their cash drawers.

This thread has got me thinking.

When I go to my bank and ask for a box of coins, I receive machine wrapped, sealed boxes. However if I ask for loose rolls, the rolls come in the same wrappers which the bank will give me when I ask for wrappers. The ends on these loose rolls have very crisp folds. They have never given me any machine wrapped rolls outside of sealed boxes.

This happens at any branch I visit. I have been trying to figure what the deal is with these rolls. Reading this thread and thinking about it, it appears to the bank is opening boxes and re-rolling them in their own wrappers. For what purpose, I do not know for sure. But I do know I have never gotten any silver from these loose rolls. I just attributed it to not searching enough of these loose rolls yet.

Maybe my bank has a policy of silver mining the boxes and re-wrapping them for the customers.

Paranoia or am I on to something?

The branch manager at one of my pickup bank was curious how much coins I found and I told him it's just a holly. One time I was late to pick up four boxes I ordered. The branch manager opened up one box and put them in a plastic bag ready to be shipped out. He told me that he did not find anything. I took the remaining 3 boxes and the bag. I found 4 40%ers in the bag. In one of boxes I found a 90%er. I was so glad that he did not open the box containing 90%er. He was very curious but not enough knowledge about the 40%ers. I am still keep my fingers crossed that no big-mounth show-off in my area try to educate tellers about silver coins.

couldnt they just weigh the rolls to determine if they have silver or not? it seems alot quicker and easier than busting them open and edge searching them. lets just hope they dont ever realize that.