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Returning Rolls Of Coins To The Bank

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Valued Member

United States
161 Posts
 Posted 08/12/2009  04:10 am Show Profile   Bookmark this topic Add lizzyjo to your friends list Get a Link to this Message Number of Subscribers
What is the best way to return rolls of coins to the bank? I don't know of any banks around here that have coin counting machines, and I'm not about to use any machine that charges me some percentage to count my change. What I've been doing is exchanging about $10 of rolls for bills at that bank that I have an account at.

Is it best to constantly exchange few numbers of rolls for bills, or to infrequently exchange large numbers of rolls for bills?

Would it be better to deposit the coins rather than exchanging them for bills?

I don't want to be the person who makes the bank tellers think, "Oh, great, here comes that girl with all the pennies again."

I know there have been several people on this forum who have had very bad experiences with their bank, and I want to avoid that by using the best etiquitte as possible.

(I've looked around and haven't found a forum on this topic, but if one already exists then please link me to it.)
Pillar of the Community
United States
619 Posts
 Posted 08/12/2009  05:44 am  Show Profile   Bookmark this reply Add deadmunny to your friends list Get a Link to this Reply
There is a supply bank (where you buy rolls) and a separate dump bank (where you dump rolls). Rule number one is never dump at your supply bank. That is so you can avoid getting your searched coins back. I'm in the same boat as you -- no free coin counting machines, so I re-roll everything. I don't work with pennies, but when I dump hundreds of dollars of halves, I am making a deposit only and never ask for cash back. Cash can always be gotten at the ATM.
Pillar of the Community
copper nickel daddy's Avatar
United States
2224 Posts
 Posted 08/12/2009  05:50 am  Show Profile   Bookmark this reply Add copper nickel daddy to your friends list Get a Link to this Reply
Here is what I do:

I have ONE branch of my bank that I return most of my coin to. They get all of my half dollars, and about 75% of my nickels. They only accept rolls. Luckily, they also like me a lot! I have brought them cookies, donuts, and things like that. All of the tellers in there tell me that I can bring them as much as I want to.

I would NOT recommend depositing them; cash them in for bills. Most banks have departments that monitor accounts for any "odd" activity, and making huge deposits and immediately withdrawing the cash to go get more coin to eventually deposit falls under the category of "odd activity". I know this ALL too well, as I had a bank that blacklisted me for doing just that.

I also have a bank that I do not have an account with that has a counting machine. Again, they like me in there, and that is where I cash in the remaining 25% of my nickels and all of my cents. Donuts and cookies work wonders there, too!

I search through about $50 a week in cents, about $400-$600 per week in nickels, and anywhere from $1000 to $3000 in halves per week on average. So, you need to cultivate a good relationship with your bank. Be patient; that can take time. Be nice to the tellers, and they will generally be nice to you and accept what you are doing.
Bedrock of the Community
United States
20753 Posts
 Posted 08/12/2009  08:16 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Aquiring and returning coinage to a bank is becoming a problem with the banking world. Many banks around me have started new policies due to people doing this constantly. For one, Bank of America has started to remove any coin counting machines if they break down. New policy is if you bring in large amounts of coins, they must be shipped out for counting and the results are entered into your account. Naturally there is now a charge for this service and if no account, the charge goes up and you must return to that bank for the results when they get that info. Bank of America around me will no longer order coinage for anyone without an account and a buisness that requires coins. And that too now has a charge. None of the banks around me have, carry and will not order half dollars.
Many banks are getting leary of rolled coins also since there has been lately a fad to short each roll. That is to make a .49 cent roll instead of a .50 one. Same with Nickels, Dimes, etc. So those too must now be shipped out for opening and counting. This now requires an even larger charge for that service.
When a person does bring in odd coins such as half dollars they are also shipped out to either the Federal Researve or a main office and this too now has a charge.
People, with their constant taking of coins and returning them have created such situations in banks. People don't realize banks are organizations for the compliances and distributions of moneys and not a place for coin collectors. I don't mean to sound like I agree with banks for charging more and more for their services, but with the coin collecting boom going on, the banks services are being really pushed to the limits.
Due to all this I've gone to paying for many items with all change just to get rid of most of the coins I accumulate.
Pillar of the Community
ratman4762's Avatar
United States
2520 Posts
 Posted 08/12/2009  12:44 pm  Show Profile   Bookmark this reply Add ratman4762 to your friends list Get a Link to this Reply

Quote:
I would NOT recommend depositing them; cash them in for bills. Most banks have departments that monitor accounts for any "odd" activity, and making huge deposits and immediately withdrawing the cash to go get more coin to eventually deposit falls under the category of "odd activity". I know this ALL too well, as I had a bank that blacklisted me for doing just that.

I had problems with a bank too, and they demanded that I close my account! So now at a different bank I just exchange for cash.
Valued Member
United States
161 Posts
 Posted 08/12/2009  3:33 pm  Show Profile   Bookmark this reply Add lizzyjo to your friends list Get a Link to this Reply
Thanks for the advice, everyone!
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