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 Replies: 9 / Views: 1,125 |
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Pillar of the Community
United States
7123 Posts |
Will the mint buy back my damaged coins ?
The answer !
No, the United States Mint does not repurchase any issue coins. It will redeem mutilated coins for their scrap metal value and will replace uncurrent coins with new coins of the same denomination. Numismatic items (coins) may be resold in the secondary market. You may wish to contact a local coin dealer if you are interested in selling your coins.
I find it interesting that the mint will only give the scrap metal value for coins which were issued with a face value ,, now I don't know about the rest of you ,, but this sounds like a way to get bullion value for the copper lincoln cents (That are illegal to melt ) ,,just mutilate them and return them to the mint ?
so what do you think does the current law cover mutilation such as bending the coins so they cannot be counted in a machine ?
Metalman
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Valued Member
United States
392 Posts |
I'd call that a grey area you might get away with it and then agian you might not
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Pillar of the Community
United States
2177 Posts |
Would they also redeem coins (especially Zincolns) that are so disgustingly filthy that they are rejected by coin machines?  I have several rolls of those. |
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Pillar of the Community
 United States
7123 Posts |
Thingee
I think your better off taking the dirty cents to a bank and exchanging them for other rolls or cash ,, the mint will only give you scrap price for them according to their facts page .
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Pillar of the Community
United States
2177 Posts |
I wanted to avoid having to put my account number on the rolls. Oh well. Thanks for the info Metalman.  |
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Pillar of the Community
United States
7123 Posts |
Thingee
Your bank makes you put your account number on the rolls ? that sounds a little much to me ,, I put my phone number on the rolls and then only when asked for it .
Question the policy of adding your account number to the rolls and tell the teller that you want the coins wrappers changed if they insist .
Metalman
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Pillar of the Community
United States
2177 Posts |
They want account number on it but then cross it out with magic marker before handing it off to customers. Thing is the account number can still be read under the marker. I will ask my bank if I can use my phone number instead. I don't think they will take time to rewrap the rolls. Thanks for you suggestion on using phone number. I'm more relieved!   |
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Pillar of the Community
United States
595 Posts |
quote:
They want account number on it but then cross it out with magic marker before handing it off to customers.
What for? Do they count or weigh the rolls before handing them out? And even if they do, would they call you and tell you one of your rolls has only 49 cents and they're taking out of your account? How stupid is that? I'd find a different bank, one that doesn't require any identification on the rolls, and if you don't want to change banks altogether, you could at least open a little savings account with $10. It happens we have accounts at two banks and a credit union, and I turn in all my rolls to the CU and buy all my rolls at the banks. That way I know I'll never get back rolls I turned in myself. And the Cu does not require any ID on the rolled coins. Well, good luck, Thingee. Banks exist in their own little universes. Jan |
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Valued Member
United States
61 Posts |
It's true about the whole account number on the roll so you don't stiff the bank for a few cents. I have a bank credit union I go to and they require an account number on rolls. This is good because I just got 50 rolls that were customer wrapped and I was short changed on about 80% of them! But I did find a dime, and a couple of rolls had 51 in them. That is when account numbers are good.
I also have a bank I dump all of my rolls and they require name & number. I guess that they will call you and ask you for the 5 cents you screwed them out of. Regardless, I guess it gives them a warm-n-fuzzy, and they figure If you don't want to put your info on the rolls, don't turn them in here!
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Pillar of the Community
United States
4541 Posts |
I have heard of putting names on the rolls or even part of the account number but not the whole account number. Its like numis said The banks have been ripped off for so many years and they are tired of it. Most banks require an account to even get orturn in rolls of coins. I wouldnt think they would give your rolls with your name and account on them to another customer, THATS just not SMART on their part. If somone rips you off they have to pay you back. Most rolls in bulk get sent off to a rolling company and rerolled then back to the bank.
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Replies: 9 / Views: 1,125 |
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Posted 03/08/2008 10:25 pm
