Hacker News new | ask | show | jobs
by patmorgan23 2157 days ago
Banks can't take pre-rolled coins. They have to break them and recount.
5 comments

I had the opposite experience. Big Bank would not take my loose coins but happily gave me paper tubes and accepted the rolls a couple days later.
That was my experience as well. It’s all odd because coins can be accurately weighed if the denomination is separated.
Often separating the coins isn’t necessary either. Because the value of a coin was historically the value of the metal it contained, many modern coin sizes still have a volume proportional to their value. US dimes, quarters, half dollars, and the old Eisenhower dollar coins are all $20/lb, for instance.
And that's today's at-home experiment with the kid locked in!
lb is a unit of force, not volume.
On earth they readily convert. The size (historically) was determined by the volume needed to get that much mass. At one time payment was measured in weight as you could never trust the other person (or the person who fooled them) to not mix some less valuable metal on with their coins. Those days are mostly gone but the history is weight (which on earth is the same as mass) is important not volume.
> You could never trust the other person (or the person who fooled them) to not mix some less valuable metal on with their coins

Another major problem was people taking shavings from the edge of coins and trying to pass them off as unaltered; it's the reason many coins have some kind of pattern imprinted around the edge.

Hence the partially empty cereal boxes and snack bags which sell by weight but package to maximize visual perceived volume. I still recall the disappointment as a kid when I got a new box of cereal only to see that a huge portion was "already gone".
They readily convert with half a percent of slack between different locations. So be careful calibrating your scale.
I've had the opposite experience like the person you're replying to. They wouldn't accept rolled coins, I guess because they have to break them to recount anyhow. And it's easier to commit fraud.
The last time I tried to deposit pre-rolled coins, the bank told me I could only deposit a maximum number per visit w/o a coin counting fee, and that number was really low.

Now when I'm dealing with a lot of cash transactions & the coins are piling up, I just keep them with me, and make sure to spend them when I can. Or I donate them to a charity box.

Ya know, that’s what I would’ve thought as well, but a year or two ago Chase Bank refused to take my loose change. They sent me away with the paper to roll the coins myself to bring back to them
This depends on the bank. I've had no trouble exchanging pre-rolled coins for bills at Bank of America.
once upon a time, they would take them if you signed the roll and wrote your account number on it.