# Anybody else getting flack for asking for nickels?



## CarolynRenee (Jan 30, 2008)

Got some $$ for our DD's birthday from family so I went into our bank & made a deposit, but also asked for $100 back in nickels. The teller I was with gave me a double-take, then said she didn't think I could have that "much". I told her to please ask, so she asked the lady next to her. Also got a double-take from her & she said she didn't think they had that much to give back.

I also asked how many boxes of nickels I could get, realizing that if I asked for a "lot" of them, I understood that there would be some sort of nominal charge.

Anywho, after me being pretty adamant (but nice) about it, the second teller goes to the vault, and brings my $100 in coins to the counter....with the bank manager on duty. She asks me WHY I wanted the coins. I asked why not. She asked me again (not so nice) and I said, jokingly (or was it???) that our daughter was going to college in several years and I wanted to pay for it in nickels. 

Well, I DID get my $100 in coins, but not without my blood pressure rising.

What business is it what I do with my coins? Was this just a rude / ignorant lot of bank tellers / manager, or are they trying to avoid "giving" away money in coinage?


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## okiemomof3 (Jan 11, 2010)

i agree, it's none of their business. money is money and if you want nickles then they should give you nickles.........now i gotta ask why.....?? inquiring minds wanna know


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## CarolynRenee (Jan 30, 2008)

Kind of along the same lines of someone asking to buy a box of dimes in 1964.


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## springvalley (Jun 23, 2009)

I may have missed something here, why do you want the nickels ???? > Thanks Marc


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## mekasmom (Jan 19, 2010)

CarolynRenee said:


> What business is it what I do with my coins? Was this just a rude / ignorant lot of bank tellers / manager, or are they trying to avoid "giving" away money in coinage?



I understand your frustration. Just tell them that your "dad, mom, uncle, or whoever" loves those nickel casino slot machines, and you are giving them these nickels for a birthday present for their trip to the casino. They will understand that. I get nickels all the time with that excuse. Of course the bank thinks my FIL needs gamblers anonymous, but who cares?


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## Tarheel (Jan 24, 2010)

mekasmom said:


> I understand your frustration. Just tell them that your "dad, mom, uncle, or whoever" loves those nickel casino slot machines, and you are giving them these nickels for a birthday present for their trip to the casino. They will understand that. I get nickels all the time with that excuse. Of course the bank thinks my FIL needs gamblers anonymous, but who cares?


Or tell them you are starting a new vending business and you were hoping they were on board as your new bank. :grin:


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## CarolynRenee (Jan 30, 2008)

mekasmom:
Good idea about the "gambling gram'ma". Guess I could use the "coin collector Grand'pa" excuse too.

okiemomof3 & springvalley:
Dimes minted after 1964 were no longer 90% silver. A 1964 or earlier dime is now worth over a dollar because of it's silver value. There has been talk about doing the same with nickels (using metal other than & cheaper than, nickel). The metal value of a nickel is worth more than five cents, will be more when / if the feds make nickels out of something other than the metal nickel.


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## hsmom2four (Oct 13, 2008)

Most likely it is because they have to order their change from the main vault and then it is delivered by the armored truck guys. Most bank branches order what they need for their commercial customers and they really don't keep loads of change in the vault otherwise. They were probably trying to calculate whether or not they'd be able to make a change order for the next store owner that comes in before the next delivery. Also, it costs to have that change delivered and the business customers that use rolled change are charged for it with the service charges on their accounts. 
Just know that is is odd for anyone to ask a bank teller for $100 in nickels and they were just annoyed at having to do their job and give them to you. Don't sweat it.


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## Pam6 (Apr 9, 2009)

Next time order them and it probably would not be an issue at all. They were probably more irritated by the fact that they had to get into the vault right then. Try ordering them next time and see if you get the same attitude.


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## CarolynRenee (Jan 30, 2008)

I actually did mention "ordering" them and even asked how much it would cost. The manager said she didn't know, but that I should get back to her next week and she'd have an answer. Technically, it's next week now so I'll be calling tomorrow.

I understand that the banks have to pay for the rolling / boxing of coins, and I don't have a problem with paying a nominal charge to compensate them for their cost.

I guess I just didn't appreciate the 'tude I got from the manager, and also wondered if it had anything to do with a possible future debasing of the nickel itself.


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## Roadking (Oct 8, 2009)

I always tell them that my boys are into numismatics (coin collecting), which they are. They know us and the boys...never a problem be it nickels, dimes, quarters, halves or pennies...small town here. Heck, we can even go into the land pick our rolls sometimes!
Matt


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## Ernie (Jul 22, 2007)

For your $100 you got 2000 nickels. At the current prices on Coinflation.com, a nickel dated 1946-2011 is worth $0.071.

So in theory you got $142 worth of nickel.

The composition of those coins is 75% copper and 25% nickel.

Do you have a smelter? Are you going to melt them all down, separate out the two base metals and then cast them into bars to be sold? Or do you just like holding on to them and pulling a fast one on the U.S. mint?

It's not illegal to melt coins. A penny dated from 1909-1982 has actually TWO cents worth of copper in it. So maybe you should tell your banker "be happy I'm not asking for it in pennies."

Every time I go into my bank and make a withdrawal the teller asks how I'd like it. Each time I say with a straight face, "gold or silver". That never gets old.


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## hsmom2four (Oct 13, 2008)

CarolynRenee said:


> and also wondered if it had anything to do with a possible future debasing of the nickel itself.


They likely know zero about that. They were just annoyed at having to go and open the coin vault (it takes two people probably for security) and that's the one and only reason you got the 'tude. You'd think in these times people would be more greatful for their jobs. Also, they are probably skeptical that you might bring all those nickels back in and then they'll have to send them back to the vault. If you want the nickels don't let them blow you off. Ask for a district managers contact info if they don't accomodate you this time.


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## Dave in Ohio (Jun 11, 2002)

probably thought you were going to melt them down for the nickle content, which was recently made illeagle to melt down coins...


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## Ernie (Jul 22, 2007)

Dave in Ohio said:


> probably thought you were going to melt them down for the nickle content, which was recently made illeagle to melt down coins...


It's illegal to deface them. Not illegal to melt them. When you melt then they cease to be a coin.


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## texican (Oct 4, 2003)

I've asked... and they always bring out their little trays... no, I want the big boxes. Oh! How many? A couple to start with. It's always service with a smile here...

You can't have too many... there's zero downside. Just like getting boxes or rolls of halves... get some silver, great! None, no biggie, just spend them.


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## radiofish (Mar 30, 2007)

Try asking for two dollar bills! I did and was required to get $200.00 dollars worth (a bundle of 100 bills as they come from the US Mint) of them from the vault.. So I have been spending 'funny money' 2 dollar bills around town, over the last few weeks..

I do get easier results in asking for the rolls of coins, from the tellers. I ask for the dollar presidential coins, and such.. Of course I am in there during non-peak hours, along with the other armed merchants making their bank run - Why else would the other customers have a zippered bank bag, and a slight bulge where their CCW weapon is at??


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## Wisconsin Ann (Feb 27, 2007)

Although in this case it probably was a matter of inconvenience for them, the bank tellers and certainly managers are trained to be wary of unusual requests. 

I used to get large numbers of pennies and nickels for the sawdust "coin search" pile for the kids at a local event. .... just sayin'.


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## Ernie (Jul 22, 2007)

Wisconsin Ann said:


> Although in this case it probably was a matter of inconvenience for them, the bank tellers and certainly managers are trained to be wary of unusual requests.
> 
> I used to get large numbers of pennies and nickels for the sawdust "coin search" pile for the kids at a local event. .... just sayin'.


You know, if in that pile of 2000 nickels you find a couple of pre-1945 ones then you paid for about 2% of that whole pile at today's prices in silver. At tomorrow's prices you might have paid for the whole adventure!


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## Explorer (Dec 2, 2003)

I frequently order a box of nickels ($200) with no problems. They come in with the next coin delivery, here it is once a week, and when I go in whatever teller I am at goes to the vault by herself and gets the coins. 

Banks are there to provide a service for you, if they get uppity, I would find a new bank.


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## Wisconsin Ann (Feb 27, 2007)

Explorer, I think the key here is that it wasn't ordered. I've gone in before an event (history recreation) and asked for dollar coins. I get a LOT of...well, not flack, but shall we say "interest". I've learned to order them every few months if I'm going to need them.


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## motdaugrnds (Jul 3, 2002)

Ok, my ignorance is going to show ... again!

What on earth are you all wanting nickels for? (rofl and don't tell me because grandma is a gambler)


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## suitcase_sally (Mar 20, 2006)

Go back and read Ernie's post (#12).


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## Guest (Feb 23, 2011)

Ernie said:


> It's not illegal to melt coins. A penny dated from 1909-1982 has actually TWO cents worth of copper in it. So maybe you
> should tell your banker "be happy I'm not asking for it in pennies."


This story dates from 2006 so maybe things have changed since then. But I'd look for an authoritative answer before I invested much in the way of resources into something you may not be able to profit from.

http://www.usatoday.com/money/2006-12-14-melting-ban-usat_x.htm

*New rules outlaw melting pennies, nickels for profit*
_12/14/2006 12:01 AM ET 
By Barbara Hagenbaugh, USA TODAY_

WASHINGTON â People who melt pennies or nickels to profit from the jump in metals prices could face jail time and pay thousands of dollars in fines, according to new rules out Thursday.

Soaring metals prices mean that the value of the metal in pennies and nickels exceeds the face value of the coins. Based on current metals prices, the value of the metal in a nickel is now 6.99 cents, while the penny's metal is worth 1.12 cents, according to the U.S. Mint.

That has piqued concern among government officials that people will melt the coins to sell the metal, leading to potential shortages of pennies and nickels.

"The nation needs its coinage for commerce," U.S. Mint director Ed Moy said in a statement. "We don't want to see our pennies and nickels melted down so a few individuals can take advantage of the American taxpayer. Replacing these coins would be an enormous cost to taxpayers."

There have been no specific reports of people melting coins for the metal, Mint spokeswoman Becky Bailey says. But the agency has received a number of questions in recent months from the public about the legality of melting the coins, and officials have heard some anecdotal reports of companies considering selling the metal from pennies and nickels, she says.

Under the new rules, it is illegal to melt pennies and nickels. It is also illegal to export the coins for melting. Travelers may legally carry up to $5 in 1- and 5-cent coins out of the USA or ship $100 of the coins abroad "for legitimate coinage and numismatic purposes."

Violators could spend up to five years in prison and pay as much as $10,000 in fines. Plus, the government will confiscate any coins or metal used in melting schemes.

The rules are similar to those enacted in the 1960s and 1970s, when metals prices also rose, the Mint said. Ongoing regulations make it illegal to alter coins with an intent to commit fraud. Before today's new regulations, it was not illegal to melt coins.

Metals prices have skyrocketed worldwide in recent years in response to rising demand, particularly in rapidly growing China and India. Prices for zinc, which accounts for nearly all of the metal in the penny, have risen 134% this year, according to the London Metal Exchange. Even accounting for a recent decline, the price of copper is up 50% since the start of 2006. Nickels are produced from 75% copper and 25% nickel.

Although the Mint's new rules are immediately going into effect, the Mint will take comments from the public for a month.

The government has changed the composition of coins in response to rising metal prices. The penny, which was pure copper when it was introduced in 1793, was last changed in 1982.

== == ==

Also this: http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=724


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## watcher (Sep 4, 2006)

Look at it from the banks side. About the only people who ask for rolls of nickles are businesses and they tend to get about the same number of rolls on the same day so the bank keeps enough nickles on hand to take care of them and a few extras. Now you come in out of the blue and ask for 50 rolls which could cause them problems in providing the nickles their regular customers. So they ask you why you want the nickles probably thinking they can talk you into one of the following: Taking fewer nickles or coming back later so they have time to order the extra nickles for you.

IOW, the odds are they didn't really care WHY you wanted the nickles but if they could change your mind about getting that many right now.

I have worked several jobs which required me to get sums of money from banks in coin and/or bills, ranging from a couple hundred dollars to a few thousand dollars. I always called before hand and they have the change waiting. 

In most cases if I were to show up and ask the larger amounts of money out of the blue I'd be told they could not provide the funds right now because they don't keep large amounts of coins or bills on hand.

As an aside its quite an experience to carry $500 in various coins in your lap on a motorcycle.


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## Ernie (Jul 22, 2007)

I started to argue with you, A.T. but then I decided to go back to Coinflation (my definitive source for all things coins) and look it up. There was an update to the original article that specifically stated how the U.S. Mint HAS made it illegal to melt coins now by passing a law. Congress didn't pass a law. The president didn't sign a law. The U.S. Mint MADE a law.

So when did the U.S. Mint become our fourth branch of government? Are the coins on your pocket not yours, but rather _on loan_ to you from the U.S. Mint? Apparently so.

You and the other poster are correct. I am wrong. Apparently I wasn't cynical ENOUGH about my government's ability to intrude.


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## Explorer (Dec 2, 2003)

I am not saving nickles to melt. If nothing happens, they still have face value. If something happens, then maybe they will trade at a higher value than clad coins. I still get a few silver coins when I can as they probably will have the most value, but if a silver dime is worth $10.00 I then believe a nickle will be worth more than other current coins.


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## tgmr05 (Aug 27, 2007)

The reason for holding on to the nickels is not to melt them. How many folks keep pre64 coinage? They do not melt it, they simply hold it to keep the metal value. Same with the nickels. Eventually, there will be a market for copper. You can then go out and buy bags of pre81 or is it 82 pennies, or nickels.

Another reason to hold them is this. Typically, when governments devalue their money, they do it to the paper dollars. The coins simply stay the same, and hence become worth more. For example, if a new US dollar came out, and was red. It may take 10 green - current - dollars to buy the red one. But the coinage typically stays the same, 4 quarters for one red dollar, or 20 nickels for one red dollar.


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## Ernie (Jul 22, 2007)

Well, I sort of agree with you but I'd phrase it differently.

The coins aren't worth more. The METAL in them is worth more. Even a hundred years ago I don't think you'd find many people who would have ever anticipated COPPER being a precious metal.

Paper is ridiculously cheap, but there may be a point when even our paper dollars aren't worth the paper they are printed on. Right now we're just seeing that with pennies and nickels in that they aren't worth the metal they're stamped out of. The free market is saying that there could be better uses for that metal than using it to represent our fiat currency.

I was floored the first time I held a gold coin in my hand. The weight, the feel, the look ... it just instinctively said "real money". It ruined me for fiat currency evermore.


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## wmsff (Jun 10, 2010)

Well you are all out of luck. :duel: haha. Sorry I could't resist.

My grandfather started collecting them and other coins in the early 70's and I remember sorting coins for my Dad at the dinner table in the late 70's and well into the 80's. He had three rows of paper cups and we kids would take hand fulls of coins and put them in the correct cup - by year. As an adult I still had the habbit of checking for the year and everytime I went to visit my parents I brought Dad a nice big bag.

He has a safe with tons of rolled coins. Not just nickels, but dimes, and even pennies (not sure why the pennies :shrug.


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## CarolynRenee (Jan 30, 2008)

I have no problem with "ordering" coins from the bank, although next time it may be from different bank as my DH has also been given flack for asking for a box of nickels. Mind you, this is a town of 12K+ and a large bank, so I'm not sure that it's just a matter of not having a box or two of "extra" nickels laying around.

Thanks for all the replies....I was afriad there was a "nickel conspiracy" going on. :TFH:
Guess it's just rude bank people.


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## Fat Charlie (Sep 9, 2010)

When you do only one thing, you do it better.
At First Citiwide Change Bank, We just make change.

We have been in this business a long time. With our experience, we're gonna have ideas for change combinations that probably haven't occurred to you. If you have a fifty-dollar bill, we can give you fifty singles. We can give you forty-nine singles and ten dimes. We can give you twenty-five twos. Come talk to us. We are not going to give you change that you don't want. If you come to us with a hundred-dollar bill, we're not going to give you two-thousand nickels... unless that meets your particular change needs. We will give you... the change... equal to... the amount of money... that you want change for!

At First Citiwide Change Bank, Our business is making change.
That's what we do.


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## Scavenger (Jan 1, 2011)

I watched a video today on saving nickels. I think this is something I'm going to do...and it's no one's business what I am going to do with them!


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## hsmom2four (Oct 13, 2008)

CarolynRenee said:


> I have no problem with "ordering" coins from the bank, although next time it may be from different bank as my DH has also been given flack for asking for a box of nickels. Mind you, this is a town of 12K+ and a large bank, so I'm not sure that it's just a matter of not having a box or two of "extra" nickels laying around.
> 
> Thanks for all the replies....I was afriad there was a "nickel conspiracy" going on. :TFH:
> Guess it's just rude bank people.


actually it really is most likely a matter of not having that much coin sitting around. Banks large and small do not keep rolled coin around unless they need it for their customers. Typically if you place an order then it will be there on the same day of the next week. The "vault" where the money is kept in the bank is really just a medium sized safe in the back room of the vault. Rolled coin takes up a lot of space and its heavy and has to be counted everyday before they go home. So, you will probably have the same problem at another branch of the same bank or another bank altogether. If they want to keep you as a customer then you should be insisting that they order the nickels for you.


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## Explorer (Dec 2, 2003)

I live near a regional center town of about 8,000 with five or six banks. Before I started ordering 'boxes' of nickles, I would stop in at any of those banks (not a customer) and get $20 or $40 worth of nickles with no problems or comments.


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## Phillip (Feb 6, 2006)

Don't melt them: http://www.law.cornell.edu/uscode/18/331.html

Please don't use the loophole argument unless you would like others to do that same for things such as the bill of rights.


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