Meixner007

Placed my order for the 2500 NA coins on 4/30/09, shipped 5/19/09, got here 5/20/09. I am depositing them in two trips to the bank. First trip I went with half the order, so 1250, and the coin machine read 1249.02. The teller and I just looked at each other and couldn't explain it. $0.98 I will chalk up as a sunk cost. Doesn't bother me in the least.

IAHtraveler

You didn't ask for a recount? Or ask how $1 coins could come up as pennies? I'd call your bank. It's not that the 98 cents is a deal breaker, but the point that their machine is wrong and they aren't doing anything about it.

aaron1262

i don't get why people are letting the machines count the coins first of all i think it's faster just to take it to a teller rather than having to unwrap every single roll and throw it into a machine that possibly miscounts my money like the above experiences causing a lot more hassle.

annerj

I've missed this somehow.

It looks like
GW
John Adams
Jefferson
MAdison
Jackson
Natuve American

are the only ones avaiable to buy?

Meixner007

I didn't ask for a recount for a variety of reasons. I'd been there for 20 minutes while the very nice teller broke open all the packages and fed them in. I didn't want to wait around while they did another recount, and frankly it was $0.98.

I'd read earlier in the thread someone had a similar problem and the teller told them the counting is based on weight. Either way you look at it .98/1250 is 0.784% off or 0.00784. I didn't feel like getting into this debate with her.

I'm going to go to a different bank this afternoon to deposit the rest and see what the new machine comes up with.

annerj

Sorry to come into this late and start asking questions (I don't have time to read 140+ pages).

I see:
The United States Mint pays for standard shipping and handling of domestic orders. Any special handling will be paid by the customer.
Orders are limited to twenty boxes ($5000) per coin issue.
Specific coins are available only while supplies last.
Please allow approximately 1-2 weeks for shipping.
All sales are final.

For the TOC....so the 2 per president isn't in effect anymore?

IAHtraveler

Some banks require you to use a machine, even if you take them in rolled to a teller, unfortunately.

Correct

I would experiment first... take in a roll or two. If they leave them in-tact, then go another day with the rest. From my experience, Chase has never made me open a roll.

If you look at the specific page for a Pres. coin, you'll see "Orders are limited to two boxes ($500) per President." under the "For this special program"

Meixner007

Because there's no other choice. I brought them in to a teller, still rolled up, and they said they had to be unwrapped. I didn't really care as they did all the "work". Just took a little extra time.

annerj

It say 2 on the presidents but the Native American coin it says:
Orders are limited to twenty boxes ($5000) per coin issue.

Meixner007

Maybe if I had more time I might try this experiment down the road.

Funny you mention Chase has never made you open a role as this was the bank I was using. Main one, downtown Chicago no less.

soitgoes

That's correct--2 per president; 20 per Native American design (right now there's only one Native American coin--Agriculture).

thehawk75

The machines count the coins. When I made a post about it being based on weight was when they accepted my deposit for $5K, issued me a receipt for the $5K deposit, and then a full week later debited my account, stating I was short $57.34. I was told that they take the coins to some central branch in the area where they are weighed, then obviously apply some formula of:

deposit amt$ = weight of all coins / weight of 1 coin.

At any rate, whether they count the coins, or weigh the coins, it's ridiculous to accept those readings, especially if they're trying to tell you that a deposit made solely of $1 coins can be in a denomination that requires something than $1 coins only.

My bank ultimately credited me back my $57.34. Didn't take that much effort actually... just a face to face with the manager. He didn't have any argument to the contrary and immediately credited back my funds. thus, I'm actually quite surprised that they didn't just give you the 'extra $0.98', since 1) it's miniscule on such a large deposit (and I'm assuming you have a significant balance as well), and more especially #2) it's CLEARLY EVIDENT that the machine made a mistake when it tells you there is $0.02 cents in there on a deposit made solely in $1 coins. I mean, even the tell must have KNOWN that this is wrong and should have been proactive in just fixing it.

Meixner007

Everything you said I agree with, but I'm not a confrontational person. I agree the teller should have just credited it. I'm sure she agrees that it's ridiculous that it says I somehow had cents in there (all of them were wrapped, so it's not like I threw in .02 somehow) but it all comes down to the fact that I wasn't going to waste more time arguing about 0.98.

Meixner007

Update on my second half of the deposit. I went to 5/3rd this time and they wouldn't accept them. Again, not going to push the issue, but I probably will close my account there since I only have it for minor check writing purposes, just been waiting for a reason to do so. I walked next door to a different Chase branch and they took them in the rolls, credited in full.

WBurcham

My BofA teller prefers that I break the coins open for them for distribution (NA only). I do that and bring 'em back in plastic bags that BofA provides me with.

For the presidents I give them to the bank in the roll as collectors apparently are really into those coins.

Never had an issue, my ladies actually get a chuckle out of it. I tell them that this is how I pay for vacations & hotel rooms plus I get a few $$ of interest on the float.