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need help laundering money

Goshawk said:
Bank tellers are not allowed to accept rolls of coins without unwrapping them and counting them. This is because there's an ancient scam that consists of putting a genuine coin at each end of the roll, with slugs or things like Chuck E. Cheese tokens in the middle as filler.
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Don't they just get squished? If you must use something living, I would have thought a scorpion or large beetle would be more robust.:)
 
quarky said:
... And its mostly the penny's fault, with its new cheesy copper coating.

These bad pennies, not worth the metal they're stamped on, have trashed the quarters that sort of are. ...
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Time to re-open the 'ditch the pennies' discussion? :rolleyes: Useless currency nowadays anyway. (And don't get me started on the existence of €0.01 and €0.02 coins...)
 
In The Don household anything 5p and under goes to charity, 10p & 20p gets Coinstarred and the 50p £1 and £2 coins get used as walking around/toll/parking money.
 
Goshawk said:
Bank tellers are not allowed to accept rolls of coins without unwrapping them and counting them. This is because there's an ancient scam that consists of putting a genuine coin at each end of the roll, with slugs or things like Chuck E. Cheese tokens in the middle as filler.
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My bank takes rolls of coins from me on a regular basis, no questions asked. And I doubt very much it's just me they take them from.
 
quarky said:
The dime remains cool for now, mostly because of its little-ness.)
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I love dimes, but they're the ones that seem to be being pushed out of existence. At the store I work at, when we go to buy change for our register, we can't get dimes.
 
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I often forget loose change in my trousers before putting them in the washing machine. The coins come always out as new. Well, mine are euro-cents, but it also may work with US coins. Give it a try.
 
Bram Kaandorp said:
I just found some €0.01 and €0.02 coins a few days ago. I threw them away, since it wasn't even €0.10.
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I keep little coins. They add up, and often enough you can find some coins in a pocket and avoid breaking up a bigger bill, which would otherwise become coins in the pocket. If you always toss the little coins in your pocket, you may find you're tossing a greater percentage of your money than you think.

Cities make significant revenues with half-percent sales taxes. As the old saying goes, little drops of water make holes in stones*.

I'll vote for ditching the pennies when people agree to round down instead of up.

*(aquae guttae saxa excavant, for you snobbish cultural elite)
 
Just dump the darn things into a Coins Tar machine, and take the 10% hit. It will reject some, but just dump those back in again, until they are all gobbled up. Use the chit to buy beer, and drown your sorrows. .
 
ingoa said:
I often forget loose change in my trousers before putting them in the washing machine. The coins come always out as new. Well, mine are euro-cents, but it also may work with US coins. Give it a try.
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I may have a go at that. In a public laundromat, at least it might have comic value. Unless my dainty underthings come out all copper colored.

Rounding down? Bruto, that's against the laws of thermo-economics.
 
Modified said:
My bank will only accept rolled coins. I suppose they may unroll them at some point, but not while I'm there.
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That's odd, most places won't accept rolled coins at all because there's no way to tell if there's actually coins in the roll.
 
Whenever I had large quantities of small coins, I'd use them for bus fare. The driver wasn't going to check to see if they were dirty while I poured two hundred and forty pennies into the coin funnel.
 
As others have suggested look for machines that take the coins. If you do put them in the washing machine I suggest you put them in some sort of bag. Otherwise you might lose a few. Or just soak them in washing powder.

If all else fails, drill holes in them, put a piece of good looking string through the holes and you have a unique necklace.
 
Madalch said:
Whenever I had large quantities of small coins, I'd use them for bus fare. The driver wasn't going to check to see if they were dirty while I poured two hundred and forty pennies into the coin funnel.
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I've considered 'smuggling' the tainted coinage back into the economy; a little bit here; a little bit there.

But wouldn't that be a lot like passing the problem on to someone else?
I need to come through this with my faux moral indignation intact.
 
quarky said:
I've considered 'smuggling' the tainted coinage back into the economy; a little bit here; a little bit there.

But wouldn't that be a lot like passing the problem on to someone else?
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It won't take too many transactions before the coin ends up in a merchant's cash register. When he deposits these dirty coins at the bank, the bank will take them out of circulation per government instructions.

Personally, I'd take the 10% hit on the coin counting machine. Feed the rejects back through one or two times and if they still kick out, then leave them in the reject hopper. A ten-year-old will find them and derive great joy from his discovery.
 
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WildCat said:
That's odd, most places won't accept rolled coins at all because there's no way to tell if there's actually coins in the roll.
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My bank takes rolled change from me, but it could be because they know who I am. I work behind a counter, and I take rolled change from people. It turns out that, for every roll that's a few coins short, there's one that's a lot of coins to the good. I think that a lot of folks just try to stuff as many coins as possible into the roll. I even had one "clever" fellow try to scam me by substituting out twenty pennies in the middle of a roll. The substitutes were dimes!
 
look under a few kitchen sinks, you're looking for someone who once bought some Amway products, that's where it will still be.

Amway did a demonstration with some white gunk and a coin, one quick wipe over and they were good as new.

lob them all in a bowl of that and hose it off the next day would do it I reckon.
 
Geez.
Amway products? I have to involve MLM schemes to redeem my cash?

I sure hope this experience doesn't turn me into a terrorist.

Any thoughts on prevention?
I'd like to feel that this thread could spare someone of a humiliating, time consuming blunder. Don't let this happen to your kid. Piggy-bank gets filled; bring it in for massive reward (minus any interest, of course) and find that it isn't worth what you thought?

Give up 10%?

This could break a child's heart and turn him against the government.
This is the very type of thing that turned Ted Kazinsky into a monster.

So far, I blame the pennies.
 
hcmom said:
My bank takes rolls of coins from me on a regular basis, no questions asked. And I doubt very much it's just me they take them from.
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You have an account with them? And they know you? And you show up, "on a regular basis", to turn in coins. Well, there ya go--they know you.

They probably do accept rolls of coins without opening and counting them from people who have accounts with them, because if they open them and find that you scammed them, they know where you live and, more importantly, where you keep your money. :D

But I seriously doubt whether someone who was, first, a complete stranger to them, and second, didn't have an account with them, could walk in off the street and expect to cash in coins at all, let alone have them cash in rolls of coins without opening and counting them. Most banks in my neck of the woods (Central Illinois) won't even cash in coins if you don't have an account with them. Hence the rise in popularity of the Coinstar machines.

I was once a fascinated witness at my daughter's bank, when I went down there to deposit a college tuition check into her account, when a teller refused to cash in a load of quarters for a burly truck driver since he didn't have an account with them. He let loose with a volley of furious profanity but quickly exited as soon as he saw the security guy's ears prick up. I confess that we were all a little disappointed at the quick resolution. :D
 
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