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 Replies: 10 / Views: 1,525 |
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Valued Member
United States
284 Posts |
I went to my local bank (a credit union) and asked if they had any uncirculated $1 coin rolls. The lady behind the counter said that they don't have any coin rolls. They've never had a request for any so they never ordered them before. She said I would have to buy them from the US Treasury (and that's a quote).
Is this pretty typical? Or, did I just ask wrong?
-- Boris
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Pillar of the Community
United States
3098 Posts |
Yes, that's right. If the banks don't have any coins, they will have to order it from the Fed, not the treasury, but pretty much the government.
And you didn't ask wrong. You bank just didn't have any and just had to order more, and it might be typical for smaller banks to not have $1 rolls on hand because no one uses them and it will just take up space in the vault.
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Bedrock of the Community
United States
12437 Posts |
Quote:
She said I would have to buy them from the US Treasury (and that's a quote).
That teller is pretty clueless- the general public cannot do business directly with the Treasury/Fed Reserve and any bank/credit union teller should know better  What she should have told you(correctly I might add) would be that they will order a box for you or for you to try another branch or a different bank altogether. |
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Pillar of the Community
United States
2602 Posts |
She might have meant the US Mint. People don't know the difference between the US Treasury and the US Mint and think they are the same when they aren't. You can buy the coins for face value at the US Mint with free shipping I believe- for the Presidential dollars only. The only drawback is you have to buy a minimum of $250 I think. |
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Pillar of the Community
United States
2661 Posts |
Quote:You can buy the coins for face value at the US Mint with free shipping I believe- for the Presidential dollars only. The only drawback is you have to buy a minimum of $250 I think. That is correct Mycrob. But hey, that would be a good way to get some into circulation. Keep what you want and spend the rest. |
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Valued Member
 United States
284 Posts |
I did see that the US Mint will ship $250 worth of dollar coins for free and not include a surcharge. If I did follow that route, I would go through the rolls, preserve what I want to collect, keep some spare coins for spending, and throw the rest into the local Coin Star machine at my bank.
Still, that's an awful lot of coins. Probably too much for me.
-- Boris
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Pillar of the Community
United States
3077 Posts |
is that $250 all of the same prez?
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Valued Member
Canada
159 Posts |
Can you order circulated coins from the Canadian Mint, free shipping? would they just give you newer 2008 and 2009 coinage.
I also went to my local bank and they had to order in some coins for me.... the only catch is that if I don't pick up the coins on the certain date, they are charging me a service charge of $25. If they are getting free shipping from the mint for these coins, they are making 100% profit, if I don't pick up.
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edit
I just wrote an Email to the RCM- I'll let you guys know what they said.
Edited by Coinage
01/06/2009 9:28 pm
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Pillar of the Community
United States
3098 Posts |
Yes, all $250 is the same guy. It could be good because I live in SF area, and I got a box full of Madison Ps And I wonder if the RCM will provide such a service of shipping circulated coins free to private citizens! That would be so good for roll hunting! |
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Valued Member
United States
116 Posts |
Yes - this seems to be pretty typical. I live in one of the promotion states where the mint is spending a ton of money advertising the new dollars. They just failed to get the banks on board with their promotion program. I've resorted to paying $1.44 for each $1.00 (plus shipping) and getting rolls from the mint.
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Rest in Peace
United States
9104 Posts |
dropping dollar coins in coins start results in a 9¢ loss per coin. Better to just spend them.
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Replies: 10 / Views: 1,525 |
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Posted 01/06/2009 5:52 pm
