Interesting conversation with bank teller

[hasfam]

I went to my bank today to make a deposit. As usual, I asked if they had gotten any 2009 coinage in, and of course the answer was still no. Then I asked her if she had seen any on the "old large dollars" come in. She said no, BUT they had gotten some really old dollars in a couple of days ago. I asked, 'what's old to you?' (antique in 1980's on eBay)The teller said 1896. Well, I can tell you that I stood right at attention on that and inquired more about them. Apparently a lady came in a couple of days ago with 20 Morgans, mixed dates and just wanted to cash them in. The teller (not the one telling me the story) told the lady that she could get more for the coins from a coin dealer, but the lady said no, that's alright, I just want to cash them in. She did and the teller, Lisa quickly bought them from her drawer. I guess the moral of the story is that there is still interesting and valuable coinage circulating thru the banks. You just have to be in the right place at the right time.
Just thought this was interesting.
Rock

[eagames]

WOW!

Did you get em?

[Dick]

Now that would be a silly question!
I'll bet rock couldn't get the money out fast enough!
Dick

[hasfam]

No, the teller bought them right after the lady left. I'll let her hold them a few days then I'll try to talk her out of them for a profit....haha.

Rock

[Dick]

Way to go! I imagine that is going to take a LOT of "sweet-talking", to get her to give them up! If she is a collector, you will strike out! Good luck, no matter which way it goes!
Dick

[daviscfad]

awesome story.

[GarryN]

Didnt a teller get into a load of trouble recently for accepting and then substituting $80 for four double eagles?

If she suggested to the customer that she take them to a dealer, you can bet she went somewhere to at least determine how much they were worth.

[hasfam]

I really don't know, only what I was told. I have done business with banks in California, Kentucky and Tennessee, places where I have lived, and have gotten to know managers and tellers pretty well. A lot of them look for key coinage and currency as well as errors for themselves or their husbands or fathers who collect. And, a lot of it shows up. I know because they would love to show me thier newest finds. Stuff I would die for. As I said in my original post, good stuff still circulates around. Just look at Bill O'Rourke's found in rolls site and see all the stuff he's found in rolls. You just never know what's going to fall out of the roll when you crack it open. I love that part.
Rock

[KurtS]

GarryN,
I think that happened in Utah, and the coins were stolen. Even if they weren't, I think a bank should exchange at least bullion value on those. That said, I don't blame tellers for looking for valuable coins--if done properly (it all hinges on that word).

[eagames]

Maybe the reason banks don't buy bullion coins is that all tellers aren't coin experts and can't be expected to tell real from fake gold/silver/rare coins.

Some tellers wouldn't notice the tiny "replica" stamped on the buffalos shlong on these replicas or notice the better fakes out there nowdays.

http://cgi.ebay.com/-2008-$50.00-GOLD-BUFFALO-COIN-EXACT--U.S.-REPLICA_W0QQitemZ190219623838QQcmdZViewItem

[smed]

I believe it's against the law for a bank to pay more than face value for US legal tender.

[GarryN]

According to this story, the teller replaced $20 for each double eagle she took and was then fired. I see tho that the woman who cashed the coins at the bank was arrested under suspicion of theft. Very interesting.

http://www.coinnews.net/2009/03/31/walmart-says-no-to-20-gold-double-eagles-bank-teller-says-yes/

[Dick]

I get the impression that she was fired, not for the exchange of the coins, but actually for the "buying" of "stolen property. even tho she was not aware it was stolen. IMHO.
Dick

[GarryN]

I suspect she was fired for both. I would expect that a bank would not tolerate bank tellers using their position to convert numismatic items to personal use.