| Author |
Replies: 12 / Views: 1,627 |
|
|
New Member
United States
25 Posts |
I went to my local bank to return 3 boxes of quarters and a box of Pennys and Enquiring on 3 boxes of quarters ,out of the blue we have charges for return coins ,charges on getting them. Dose your bank charge to be a coin collector or roll hunt, after all why did they put (W) on the back of the quarters ..Thanks
*** Moved by Staff to a more appropriate forum. ***
|
|
|
|
Bedrock of the Community
United States
62064 Posts |
That means they were struck at West Point mint.
|
|
Moderator
 United States
14463 Posts |
I have only gotten small dollars and half dollars from my bank at no charge. I don't return them, I spend them.
|
|
Pillar of the Community
United States
7621 Posts |
Banks have policies and the policies can change.
Once a customer (you) starts costing them money you can expect to pay for it..... one way or another.
Always remember that all businesses pass on their costs to the customer. Banks are businesses.
It costs money to handle bulk coins. The armored courier service does not pick up and deliver for free. Counting, rolling, handling and storage costs add up. Those costs are passed on to customers.
|
|
Moderator
 United States
56855 Posts |
The W mint mark is on the obverse of a quarter. I have been getting boxes of cents for decades at a couple different banks and have never payed to buy them or return them.I long time ago I used to get 20 rolls per month of half dollars as well. John1 
|
|
Pillar of the Community
United States
992 Posts |
My credit union does not charge for this.
|
|
Bedrock of the Community
United States
19159 Posts |
No charge for the coins I acquire from the bank--three different mainstream banks. That would likely change if I dramatically ramped-up the volume of my searching. I keep a rather low profile and buy rolls across several bank branches (modest amount of rolls per branch visit). I don't manhandle dozens of boxes per week.
|
|
Pillar of the Community
United States
7038 Posts |
Well yes, if your dumping $1500.00 of rolled quarters and requesting more, why should they not charge you. They still need to count and re-roll after your deposit and then store them until another customers request them. As far as pennies go just dump them in a coinstar and get a gift card
|
|
Pillar of the Community
United States
1667 Posts |
Yeah I have to agree with Greasy Fingers, you are dumping $1500 in quarters on them and $25 in pennies and asking for 3 more boxes. You just got flagged as a problem and they are going to make it cost you to continue the service. Generally banks will do $20 with or without an account even up to $100. But the moment you start comein in with boxes worth of coins and asking for more you are tagged as a "cost" on the bank.
If you want a bank to order coins for you for free you do not bring them back to them. You pick a different bank to dump it on.
As the saying goes " don't poop where you eat." Don't dump at your get bank.
You've basically burned that bridge and they are going to charge you on both sides, to get and to return until they deter your from doing it because they know what you are doing now and don't want you asking for 10 boxes or returning 10 boxes.
I know a guy that got his banks to order him 10 boxes of half dollars each the same week and stacked up 40 boxes of half's and his house to search.
At box 5 when he was trying to bring them back they shut him down and told him "we ordered them for you because you wanted them, now you don't want them this will cost us to return them and it's going to cost you to turn them in here".
So a year later and he's still paying for everything he can with half dollars trying to get rid of them at no cost.
And his banks won't order any more for him without charging to do it.
Dumping at your "get bank" is a no no.
Maybe in a couple months they will forget about it and you can pick up a box here or there from them again and then dump somewhere else that you can do it for free but you've been flagged for now.
One time the bank manager at my dump bank saw me and met me at the door and told me flat out "no, take it somewhere else. If that's a problem to you close your account and take your business elsewhere." It was my mistake, well I did it on purpose, I dumped like $10K in quarters on them because they were unfriendly/rude about giving me coins so I nailed them with a month of dumps I normally spread around to a few banks for a week and at day 5 they were waiting for me to show up. Lol. They probably have my picture up in the break room on a dart board.
Edited by Big-Kingdom 04/25/2020 11:55 am
|
|
New Member
 United States
25 Posts |
This has been a lesson and I messed up I did not realize all of this but I see exactly what you all are say I'm setting here with about 6k in change mostly quarters and Penny's. Is there any other secret way to dump or exchange the coins?
|
|
Moderator
 United States
14463 Posts |
I recently was furloughed, so I deposited rolled Quarters, Dimes, Nickels, and Cents at my bank. I hope they will still allow me to get dollar and half dollar coins for spending at no charge. 
|
|
Pillar of the Community
United States
1667 Posts |
Well if you are going to spend the money on things you need and not in a hurry for the delivery since Amazon is so slow, the coinstar machines used to be zero fee if you took a gift card. I've done it in a pinch and I needed to buy some things anyways. You can get most anything off Amazon but with the virus they have long delivery times for non-essential items. If you need the cash for bills or more coins.... You could go to a bank branch out of your normal area and deposit some here or their to your account to clear out your returns. It's a lot of running around though and you can't dump so much at one branch with the tellers. I had this problem but found a credit union with a zero fee machine for credit union members and they don't care how much I dumped in there so I got an account. Now I don't have to roll them back up and just drag a backpack with a pillowcase full of loose coins over there to dump and deposit it on my account then pull the cash when I need it and go to my get banks and pick up new coins to search. Things are a bit more complicated with a lot of bank lobbies closed because of the virus though, so it may be more difficult than it sounds at face value. It may take a while to clear out your backlog of change back into dollars.
|
|
Pillar of the Community
United States
4333 Posts |
It's because you are dealing with a bank. Nothing more needs said!
When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72
|
| |
Replies: 12 / Views: 1,627 |
|