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 Replies: 33 / Views: 3,400 |
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Pillar of the Community
 United States
6454 Posts |
I went down to my local CU to pick up my weekly $20 of nickels. The staff asked me if I wanted any cent rolls. Apparently as of today, the CU has suspended accepting customer deposits of cents, Pennsylvania-wide. They said that the Fed bank will not accept their bags of cent coins, which is causing their CU vaults to start filling up with customer-rolled cents.
Therefore, the CU will not accept customer rolled cents going forward.
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Moderator
 United States
187663 Posts |
Very interesting.  |
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Pillar of the Community
United States
2460 Posts |
Quote:
They said that the Fed bank will not accept their bags of cent coins what? that's very odd. what's the reason for that? anything to do with the suspension of the production of cents? is there still a pause on minting zincolns? did that ever come to pass? interestingly, I took 66 rolls of zincolns to my bank today and for the first time ever a bank teller said to me, "we're glad you brought these in today, we're almost completely out of cents."  |
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Moderator
United States
94763 Posts |
Very interesting - maybe you could counter when they ask you if you want copper cents, that you will no longer accept copper..  |
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Pillar of the Community
United States
1227 Posts |
Are they not legal tender. How can a bank not except legal tender.
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Moderator
United States
94763 Posts |
bring in all that copper and tell them to deposit into your account  |
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Pillar of the Community
United States
2115 Posts |
Quote:bring in all that copper and tell them to deposit into your account . . . . . . . |
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Pillar of the Community
 United States
6454 Posts |
Well, I did find this online: Quote:
This new policy was enacted in August and has already resulted in more than 70-coin terminal locations being closed out of the 165 operating across the country.
The new policy states that when a coin terminal runs low on penny inventory it will cease accepting orders for pennies and stop accepting pennies for deposit. We understand that locations without pennies will be unable to fulfill orders for the coin, but if they do not accept penny deposits, they preclude the opportunity to ever have enough pennies for distribution. https://www.aba.com/advocacy/policy...sit-services |
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Pillar of the Community
United States
1780 Posts |
This just makes no cents for me...  Edited by mrwiskers
10/22/2025 05:39 am
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Moderator
United States
94763 Posts |
Brand - just go in there and give them a piece of your mind - you know - your "two cents"
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Moderator
United States
187663 Posts |
Quote:
Are they not legal tender. How can a bank not except legal tender. Legal tender is for settling debt. Deposits are usually not that. Even if it were (like paying a loan), they can still refuse them for being an "unreasonable" form of payment. |
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Pillar of the Community
United States
3170 Posts |
 Something needs to be done, and quick. Let the Great Lincoln Cent Meltdown begin!  |
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Moderator
United States
187663 Posts |
Quote:Let the Great Lincoln Cent Meltdown begin! No need. Zincolns will disintegrate on their own in time.  |
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Pillar of the Community
United States
6454 Posts |
All jokes aside, I did find it pretty surprising that the Fed banks are not accepting bagged cents from regional banks and credit unions.
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Moderator
United States
187663 Posts |
Their vaults are getting full I suppose. |
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Pillar of the Community
United States
2280 Posts |
I guess the 13% coinstar fee doesn't sound so bad now. You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Replies: 33 / Views: 3,400 |
Posted 10/21/2025 5:49 pm
