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coppernicus
Penny Collector Member
USA
383 Posts |
 Posted - 09/13/2008 : 17:39:40
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I went to my dump bank today. I go to a bank that has a free scan coin machine. When i get there, there is a guy(25-30 yr old white male) in front of me breaking rolls of coins and stuffing them in the coin counter. I see that he has quite a few penny rolls in his bag. I ask him if they are sorted. He says "no." I ask to buy them off him thinking 1.) I'll get extra pennies to sort and 2.) I won't have to wait in line as long for him to finish. So I buy 38 dollars in pennies and 2 dollars in nickels from him for an even 40 bucks. I take the coins out to my car and when I get back he is done with his last few rolls of nickels. He had deposited over 600 dollars in coins.
I go home and start sorting through the pennies. In 38 dollars there are over 550 wheats and 5 43 steels, 1-1909 but not vdb. Several rolls of wheat back pennies were sorted by chronologically by year.
I tell my wife about my jackpot and she says "cool." I then show her another roll of all wheatbacks and she says they were probably stolen by some crackhead.
What should I do?
a.) celebrate my good fortune and not worry about it
b.) check with police for stolen change
c.)say something to the bank about it
?????????
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Steiner
Penny Collector Member
Canada
278 Posts |
Posted - 09/13/2008 : 18:22:25
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I would take A
You really have no evidence that this source was illegal. You exchanged money for money. You have done nothing wrong.
Move forward and that is it. Nice score. |
Steiner |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 09/13/2008 : 18:40:56
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I agree with Steiner, you did well. Don't sweat it, and get back to that bank to save the rest of his coppers.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 09/13/2008 : 18:47:23
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| I agree with the above two...you exchanged money for money. You're done! |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 09/13/2008 : 19:37:36
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Unless criminal activity is proven, neither he nor you did anything wrong. Don't let an over active conscience bother you.
Suppose the guy found some penny rolls in a drawer of a relative who
moved away/went into a nursing home/passed on
and decided "money is money, just cash it in" not worrying about valuable pennies or not.
True story- happened to me today-
I was at a moving sale and one lady was having trouble figuring out if the coins presented to her for payment were quarters or nickels. I told her that nickels are smooth edged, quarters have ridges "You learn something new every day" was the reply.(The lady in question was in her fifties, though if a preson doesn't pay attention to their coins something like ridges/smooth edged is going to get overlooked.)
Remember the story of the $2 dollar bill and how the police were called in because a cashier thought they were counterfiet?
Most people don't know anything about money except how to spend it.
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Edited by - pencilvanian on 09/13/2008 19:40:56 |
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dthelucky1
Penny Sorter Member
USA
29 Posts |
Posted - 09/13/2008 : 20:16:17
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| The chances of them being stolen are slim, I would go back to that bank and try to buy all of the bags to see if there was any silver or other wheats. If it was a bag machine... |
Always selling copper pennies @ http://shop.ebay.com/merchant/danbrks |
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fb101
Administrator
USA
2856 Posts |
Posted - 09/13/2008 : 20:54:56
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I concur. Celebrate and sleep well.
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 09/13/2008 : 21:36:17
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You have not broken any laws.
Get back to the bank ASAP and try to buy all bags of coin in that counter that you saw him dump, take rolls of your own dump coins with you to fill up the bags so they will need to be changed.
Ask to buy the bags when they get changed, ask to talk to a supervisor if the clerk starts to say no.
Here's hoping you get some good finds, maybe even another '09 but with a VDB and an "S" this time!! |
There's profit if you melt things!!
8{> |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 09/13/2008 : 22:04:06
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| I would also do A, but keep an eye out for the character in your neighborhood. You could also look for anything in the police blogs about coins being stolen. It's unusual, but not criminal unless you have evidence to the contrary. Could be money from a recently deceased relative, and the guy didn't know the value or didn't have the time and effort to find out. He may have needed cash to buy a couple tanks of gas. |
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 09/13/2008 : 22:23:49
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| go to the bank and ask to buy bags!! |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 09/13/2008 : 23:03:21
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If your worried about them, watch the news to see if someone's stash had been stollen.
He's probably just cashing in either his or someone in his family's coin hoard from the last 50 years because of the tough times or he had been saving them all his life and is just now depositing them for vacation? |
"99% of all lawyers give the rest of them a bad name" 
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Steiner
Penny Collector Member
Canada
278 Posts |
Posted - 09/13/2008 : 23:17:46
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quote:
Originally posted by pencilvanian
Unless criminal activity is proven, neither he nor you did anything wrong. Don't let an over active conscience bother you.
Truer words were never spoken.
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Steiner |
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coppernicus
Penny Collector Member
USA
383 Posts |
Posted - 09/14/2008 : 09:05:37
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| Buying the rest of the coins is not possible. Once the counter is full they change the metal box and put a lock on it that then goes to the FED. Usually the box contains between 3 and 8 thousand dollars when it is full. They changed the box while I was there(this is not uncommon). I did not think to try looking at the coins at the time it was getting changed because I thought nothing of the issue until I got home and had role after role of wheat backs that were sorted in order after the guy said he had rolled them three years ago. |
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 09/14/2008 : 09:37:30
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| I like choice A the best. I would go with that one. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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scooter
Penny Pincher Member
240 Posts |
Posted - 09/14/2008 : 18:33:19
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a.) celebrate my good fortune and not worry about it
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magnasort
Penny Pincher Member
USA
174 Posts |
Posted - 09/14/2008 : 20:30:35
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you actually helped said person.
good score on the old coins we would have eventually gotten anyway |
Magnetic sorters, no moving parts except the coins |
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SANITARIUM_INMATE
Penny Pincher Member
211 Posts |
Posted - 09/16/2008 : 14:08:38
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| Sounds like you just saved some coppers from being melted down by the mint. |
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eharrison
Penny Pincher Member
USA
234 Posts |
Posted - 09/16/2008 : 22:00:27
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If the coins were bought without knowledge of them (potentially) being stolen then no crime on your part was committed.
Great finds! |
Freedom is popular
That's why I voted
Ron Paul! |
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coppernicus
Penny Collector Member
USA
383 Posts |
Posted - 09/16/2008 : 22:17:57
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| I talked to a manager at another branch of the bank the next day. At first they said we should call them and sort through their coin box, but they determined that it was locked and was going to be sent to the FED. I did nothing wrong and not to worry about it. I aslo felt kind of bad about questioning someone leses motives because no one looks weirder than me depositing pennies into a machine for an hour each week. |
Edited by - coppernicus on 09/16/2008 22:18:43 |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 09/17/2008 : 04:20:22
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| Here's what you do now. Find out what coin service your bank uses and buy as many boxes from any bank in town that uses that service. I have found several of my own coins that I marked in Brinks boxes I picked up only a few days later. Both my dump bank and my soucing bank use the same service. You will probably have some very good numbers if you do this. |
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Jackpot/ Dilemma Advice??
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