HoKo

Agreed, but the comment that I was responding to wasn't making it a matter of degrees, as you are, but was rather framing it in a black or white context of whether or not people abide by the rules.

While we can all agree that someone doing 20-30K a week is a more egregious violator of the rules, at the end of the day we are all breaking the rules.

And yes, those of us that make an attempt to circulate some of the coins but deposit the majority are still breaking the rules as well. Using $50 and depositing $950 straight into the bank is still not following the rules even if one could argue that "at least I'm making some sort of effort."

For the record, I'm not going drumdrum on everyone here. I am very active in the coins world (to put it nicely) and I certainly enjoy reaping the rewards, but lets just be real with ourselves: we are not abiding by the rules/spirit of the program (whether or not coins that get used at merchants end up going to the bank immediately afterwards is a different matter)

mapsmith

Some people are putting them into circulation. Had a customer come into my store to get his hunting maps. He asked if I took the Dollar Coins because one of his handyman jobs paid him about $500 in Dollar Coins. So I am not the only one here in town purchasing from the Mint.


Yeah, I take them and put them back into circulation.

craz

the last few times Ive gone into a few different banks I saw the coins in the tellers plastic change holders along with the other coins, but each time only a few while the quarters were usually very full

All the banks have to do is to start giving them out, after all theer isnt any longer a 1 pound note or a 1 euro bill its all coins, so why not here as well

Happy

Because the government of Britain and the EU have eliminated the note.

You should call Congress to ask them why we do not have legislation to eliminate $1 bill. Just look at Canada, its government eliminated the $1 bill in 2 years after the $1 coin was firmly introduced. Then the $2 note was eliminated simultaneously when the $2 coin was introduced.

Unlike several U.S. attempts to introduce a dollar coin, the new coins were quickly accepted by the public, owing largely to the fact that the mint and government forced the switch by removing the $1 and $2 bills from circulation.

http://en.wikipedia.org/wiki/Coins_o...anadian_dollar

All this talk about putting the coins in circulation and whatnot, is wishful thinking or even meaningless as long as our Congress continues to bow to special interests and insists the $1 bill remains in circulation. And since when our Congress does not bow to special interests?!

jamesteroh

At least you got a great deal out of the run.

Wouldn't B of A contacting the mint and giving out your name be violating privacy and confidential issues on your account?

jamesteroh

My sister used a rewards credit card to pay the balance of her college tuition the loans didn't cover in the past. Now they have announced there is going to be a service fee of around 3% to use a visa or MC so it sounds like they are passing the fees onto to the students. My sister and some of her friends aren't very happy.

I told her about this program today when she was talking about the cc fees being passed on and is very interested. Apparently you can go to the bursars office and make partial payments every day before the due date and obviously she doesn't want to lug a bunch of coins around but I told her to just put a box or two in her one wheeled bag and go to the bursars office everyday and maybe if her and enough of her friends do that the bursar will realize it might be cheaper in the end to not start charging for credit card use as opposed to having to accept all those coins and deposit them. If not then she can still get the rewards and I wouldn't think she would be violating the program terms since she is using them for a purchase and putting them back in circulation.

jamesteroh

I really hate the coins in all honesty. The only time I like them is if I am using a vending machine that accepts them seeing how fussy some of those dollar bill readers can be.

I am only about an hour from Windsor and don't care for the coins over there. I especially ahte it if I did well at the casino or didn't spend as much as I thought I would and have enough in $CAN that I want to exchange to $US instead of keeping for my next trip. My bank will only exchange paper currency and not coins so you are stuck with the coins which are worthless unless you remember to take them on your next canada trip. At least with the quarters and other coins you can sometimes find vending machines that will take them or you can use them for a cash purchase at some merchants if you mix them in with US coins

Vuelos

I'm working with the local branch to discuss a deposit program. I will be moving cash to other banks though. They will be losing quite a bit each year due to this though.

I was not responsible for the machine breaking. Some dumbass who runs the machine did so.

As for costs, I covered quite a few plus, BofA makes far more from us than the costs of shipping could have been.

I advertised this today....

I hadn't considered that but now that you mention it, a call will be placed about that.

jamesteroh

I would definiately place a call to your branch manager and send an email to B of A. They had NO RIGHT to contact the mint and discuss your account.

It makes no sense either that their coin counter would get messed up. They have to get a lot more than that in deposits in coins from some retailers.

HoKo

Yeah that's pretty unbelievable that they took it upon themselves to screw you over like that, that's going above and beyond in a very negative fashion

Happy

So you are DELIBERATELY CHEATING the Vendors (both the machines or the cashiers) by mixing Canadian coins with the US coins?

Since you sound like you are going for a gambling fixing every now and then, why not put the Canadian coins in a jar conveniently placed somewhere in your family room and just bring some on your next urge to get some gambling done?

dweick

Have you checked the exchange rate lately?

jamesteroh

Well seeing we are talking about less than $1 total, and seeing they just probably go in with their deposit I doubt they are getting screwed. It's not like I am talking large amount of $. And being so close to the canadian border I have gotten back canadian coins with change before as well. I never go for "gambling fixes". If I go to windsor it is typically to go to an italian bakery I lvoe or a show at Ceasars and I will check out the casino or if I have an early morning train ride to Toronto I will spend the night in windsor sometimes.

I find it funny people find a problem with giving a merchant a couple canadian coins in a thread where the majority of people are violating the rules of a federal program.

Vuelos

I had a minor heads up on that but hadn't considered the privacy implications. However, I recently had some "money laundering" reports that have been filled our recently.

I will need to consider what to do but I know that it is NOT my branch, it's some people higher up. My branch is great but that's partly due to me depositing unrolled coins in the bags (which I purchased) along with my responsiveness to whatever they needed....

Very much so... once some things at home settle down this will be discussed with our the wealth management contact.

youreadyfreddie

This is outrageous. Were I you, I'd find a new bank and move every cent out of BofA. If they pulled a stunt like this, violating your privacy as a banking customer, they obviously don't want your business. They could have just told you that they would no longer accept coins from you.