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Conversation With A Silver-Savvy Bank Teller

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United States
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 Posted 05/10/2024  10:29 am Show Profile   Bookmark this topic Add NorthShoreMA to your friends list Get a Link to this Message Number of Subscribers
Three months ago I reported finding 19 silver half dollars in a customer-wrapped roll I acquired at a local bank. But I haven't had any luck at that branch since then: e.g., they typically don't have any half dollars.

Yesterday after I again struck out, the teller from whom I had purchased that roll started talking to me. She told me she has several rolls of silver dimes, quarters, and half dollars that she has collected by purchasing the silver coins that customers naively cash in. A clever young woman!

Then she asked me if I knew their value. I told her that local coin dealers offer 16-17X face value for "junk" silver -- and that I would pay her that amount for any Mercury Head/Roosevelt dimes, Washington quarters, or Liberty Walking/Benjamin Franklin half dollars missing from my collection that don't have additional numismatic value. She said she was interested in doing that, so I gave her my name and telephone number and told her to call me to schedule a meeting.

Local dealers sell "junk" silver at 20-22X face value, so this is a win-win situation for both of us if she wants to sell any of her coins.
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jbuck's Avatar
United States
187862 Posts
 Posted 05/10/2024  10:45 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Excellent! I hope it works out and you fill many holes!
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ijn1944's Avatar
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19129 Posts
 Posted 05/10/2024  11:09 am  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
interesting conversation. Be careful not to expose the teller to risk of 'discipline' from their employer (bank/financial institution). I was informed a few years ago by a numismatically savvy teller that some institutions (some...): 1) Frown on their employees 'fraternizing' with customers when it comes to seeking out and 'hoarding' certain coins for certain customers; and 2) Purposely not informing 'naive' customers who are depositing or cashing out large amounts of silver coinage. A few silver coins in a much larger mix of other coins is one thing; knowingly taking in multiple rolls of solid silver without comment is entirely different. We had a member on CFF years ago who was a teller report that he took pride in informing customers about silver coinage they'd bring in--some customers went ahead with their bank transaction anyway, other customers took their coins to a reputable coin shop and realized a nice premium. He indicated that his employer encouraged that behavior.

Bottom line, take care to not unintentionally place a teller at risk with their employer.
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Coinfrog's Avatar
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 Posted 05/10/2024  12:45 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
That's very good advice.
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United States
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 Posted 05/10/2024  1:45 pm  Show Profile   Bookmark this reply Add NorthShoreMA to your friends list Get a Link to this Reply
I agree with your advice about not getting this teller -- or any other one -- in trouble. She told me that she has advised customers who she knows are cashing in silver coins at face value that they are worth more than that -- but in many cases they do it anyway. A few tellers at other banks that I visit also provide this kind of feedback to customers doing the same thing.

I also plan to meet her at a nearby restaurant during lunch so I can examine and purchase her coins while she is not at work.
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jbuck's Avatar
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 Posted 05/10/2024  1:52 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I also plan to meet her at a nearby restaurant during lunch so I can examine and purchase her coins while she is not at work.
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NumisRob's Avatar
United Kingdom
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 Posted 05/10/2024  4:05 pm  Show Profile   Check NumisRob's eBay Listings Bookmark this reply Add NumisRob to your friends list Get a Link to this Reply

Quote:
I also plan to meet her at a nearby restaurant during lunch

Hope you make some good additions to your collection!
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fistfulladirt's Avatar
United States
4333 Posts
 Posted 05/13/2024  1:21 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Over the last 15 years of CRH'ing, I've purchased rolls of silver from teller's personal collection from time to time, right on the line. The last time was a roll of 20 Walking liberties and when I got home I found it held a key 1938 D.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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