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 Replies: 8 / Views: 1,772 |
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Pillar of the Community
979 Posts |
If coin counter machines like coinstar rejects them and banks do not accept them then how do so many end up in machine rolled rolls?
For circulated rolls from Brinks and Loomis and N.F. string & son and any other coin wrapper company they get their circulated coins from the likes of coinstar and banks or atleast that is what I think.
Yes I am aware that some will slip through but why reject some and not others.
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Pillar of the Community
United States
7624 Posts |
The armored coin distribution companies here in the US don't like losing money. I'd bet they tweak their coin sorting/rolling equipment to accept and roll up the Canadian coins they inevitably take in. What comes in, goes out. That equals no loss with an unfavorable exchange rate.
On the other hand, I doubt the Canadian armored coin distribution companies will let a US coin escape their sorting equipment. They probably grab every US coin they get, bag em up and slide them across the border to their counterparts in the US. Instant profit!
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Bedrock of the Community
United States
74584 Posts |
Westernsky is correct. They let them through, so they don't lose money.
Errers and Varietys.
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Pillar of the Community
United States
1667 Posts |
yep. Coinstar will reject them and most coin counters also, but the rolling machines at the armored carriers don't, the banks rolling machines where the tellers are doesn't' reject them either. it gets passed along.
If you ever get customer wrapped rolls of quarters from a teller, find it's short 1 quarter and two coins are foreigns and find it vexing because each of the rolls are like that, the bank is just passing it along also. People purposely dump their foreign coins into rolls and deposit to the bank knowing the bank will try to pass them off to the next person asking for change, and if they don't and they build up enough, then they will send them back to the armored carriers like that and they will roll them up and send them out again still.
I don't mind the foreigns within reason, one here or there every 5-10 rolls or so, but like I said when it's quarters and every roll is short almost a dollar roughly due to a missing coin and 3 foreigns, it's a hit decent enough to make you angry as the pile grows. go through a box like that and find yourself $50 short at the end...... yeah. cussing like a sailor! it's an extreme example, I think my worst hit I took was $22.25 on 50 rolls of quarters.
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Bedrock of the Community
United States
10635 Posts |
If you find that sort of hit ($22.25 in 50 rolls of quarters) I'd bag them up and take them in to my local bank and complain to the branch manager. Not fair you should take the hit yourself.  |
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Valued Member
United States
265 Posts |
It may be more of a pain, but I've sold a small pile of average circulated modern Canadian dimes and quarters on E-bay before. You may not get your money back 1:1, but if you save it up, you can offload it.
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Pillar of the Community
Canada
9163 Posts |
Roll hunting Canadian rolls and finding US coins in .01-.05-.10 and .25 is a bonus for me, 6 rolls of .25 I can get average $1 to $1.50 put that with my US buying money for rolls and it adds u8p. |
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Pillar of the Community
 Canada
9865 Posts |
Quote:
On the other hand, I doubt the Canadian armored coin distribution companies will let a US coin escape their sorting equipment. They probably grab every US coin they get, bag em up and slide them across the border to their counterparts in the US. Instant profit! Not true, as mcschilling points out US coins are fairly common in rolls in Canada. "Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
United States
593 Posts |
I have had banks tellers that when I had Canadian in rolls and they took it out with a magnate. and other ones they give the Canadian to me for free. I have others at stores for low price. I keep common to go to Canada to Victoria to fill my books
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Replies: 8 / Views: 1,772 |
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Posted 09/03/2019 10:21 am
