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Posted by JeffK on April 22, 2009 at 19:18:49:
In Reply to: Half Dollars posted by James on April 22, 2009 at 16:31:39:
My first thoughts would be to discuss the issue with the bank's manager, rather than trying to report it yourself. I work for a financial corporation that's owned by a bank so I get to see some of the internal workings of that side of the firm. Especially in today's world it could create a mess all around if you were to act without the buy-in of management.
That said, my next thought is "what do you mean by 'cash in'?" If he's hauling in loads of copper-nickel clad halves, it's quite possible someone in the family simply squirreled them away out of curiosity. They're only worth face value so it's (at least very technically) not much different except in degree from someone with a penny jar.
ON THE OTHER HAND .... if the halves are dated 1969 or earlier they contain anywhere from 40% to 90% silver and are worth a couple of bucks each for '65-'69 and maybe five or more for anything earlier. If there are Franklin or Walking Liberty halves in the bunch they have some potential collector value as well, depending on dates and mint marks. If that describes his hoard I'd definitely raise a flag with your supervisors. Turning in silver coins for face value is either dumb(*), suspicious, or both.
(*) At one point I posted a thread about my uncle who found some "books with old dimes in them" when my grandfather died. He figured the easiest thing to do with them was head to the neighborhood bank. Yup - somebody a full set of Mercury dimes including a 1916-D, at 10¢ each. I didn't find out till after my uncle died, which is about the only thing that saved him from some severely unpleasant acts on my part :=)
: I work for a bank. We have had a gentleman come in a few times and trade in a sizable amount of coins. Specifically, today, he brought in over 1600 half-dollars. This is not the first time that he has brought in a large number. Most persons do not dispose of, nor liquidate a collection in this manner. It concerns me. Is there a place (website) I can visit to see if there are any known collections that have been reported stolen? I do not want to contact the police as of yet as he is a good customer and we certainly don't want to cause him any problems if he is simply cashing out a coin collection that his grandfather left him. I know there is a website you can look up stolen art and I am hoping you can tell me if there is the same for coin collections. Thanks,
: James