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 Replies: 12 / Views: 1,651 |
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Rest in Peace
 United States
1380 Posts |
I run a retail store, and on my counter I have a sign reading "Silver coins accepted at 20 times face value". I have only had one customer actually bring me any silver coins, but it doesn't hurt to try.
A lady came in this weekend, saw the sign and told me she had heard that wheat pennies were worth 5 cents each, so she took her 10 rolls of them to her credit union to get 5 cents per coin. She said the teller told her they were only worth 1 cent each, so she deposited them all at face value.
I just mentioned in passing to her that they were only worth 5 cents each to a collector, as I didn't want to get deeper into trying to educate her.
Oh well.
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Pillar of the Community
United States
8516 Posts |
I would've asked her what bank she deposited those wheats, lol.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Pillar of the Community
United States
1116 Posts |
52Raymo a lot of banks in my area will not sell a walk up customer any coins unless they are a customer and make no bones about telling you that either. I have been turned down for that very reason many times and yet I also receive ads in the mail from those very banks trying to drum up business. I just throw those ads away.
But on the other hand I too would have asked the person what bank she did that at in hopes of trying to get them. Nothing ventured nothing gained.
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Rest in Peace
 United States
1380 Posts |
From the way she told me, it hadn't been in the last few days, but sometime during the last year.
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Pillar of the Community
United States
1088 Posts |
makes you wonder how many other people are doing similar things... man sometimes I think the perfect job for a coin collector would be a teller lol
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Pillar of the Community
United States
1116 Posts |
stud722 how about working at the mint. Wonder if they are allowed to test drive the product.  |
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Pillar of the Community
United Kingdom
2624 Posts |
Cashier in a casino is pretty good too, especially in the days that the machines took real coins rather than worked off cards or tokens a friend of mine did that job and used to be a good source.
Any job where a large quantity of currency passes through your hands is going to yeild some treaures I guess, I wouldnt get much work done though I would be scouring the dates rather than adding it up.
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Pillar of the Community
United States
3184 Posts |
I like the fact that the OP pays a more than fair price for silver. He could put a sign saying 10x fv but he didnt. That wins kudos points with me!
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Pillar of the Community
United States
1088 Posts |
see working at the mint, I would never be able to have a house, car, etc... I would spend my whole paycheck before I left work lol :D
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Bedrock of the Community
United States
20753 Posts |
A teller in a band sometimes sees some great coins but in many banks they are not allowed to put them aside for themselves. I asked a teller in a bank by me about that and was told many times some really rare looking coins are just passed on with no chance of keeping.
My thinking would be to work in or own a laundromat.
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Rest in Peace
United States
1380 Posts |
mkman123, partly I don't want anyone to feel ripped off, either with what I regularly sell or on silver. Also, as owner I can redo the sale as if I was buying what the customer bought with their silver, making the actual cost to me about 14 x fv. Though, again as owner, it just means I'm not making my regular profit on that sale, so opportunity cost is really the 20 x fv. Six of one, half dozen of the other.
Plus I'm lazy. I've had the offer of 20 x fv up for over a year, so it's a much better offer now than 6 months ago.
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Pillar of the Community
United States
4333 Posts |
Shoot, I have banks in my area that will not accept silver coins with collector value period. They refer customer to local coin shops or cash for gold, ugh.
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
United States
20753 Posts |
Quote:
Shoot, I have banks in my area that will not accept silver coins with collector value period. They refer customer to local coin shops or cash for gold, ugh.
Not sure how they would even know what the coins are. If you bring in a bag of coins, I doubt they look at each one. |
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Replies: 12 / Views: 1,651 |
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Posted 06/28/2012 2:17 pm
