John Adams Dollar available on Long Island

After reading here on the newsgroups that people were able to get the
John Adams dollar coins yesterday, I decided to check the local banks
around me and see if they were available. Yes indeed! I got one roll
at one bank that is limiting customers to one roll and an extra $10
loose for my various albums at another bank.

I am glad to see the Presidential Dollar program being executed
differently than the State Quarters program. Usually it takes at least
one month from the official release date of a State Quarter to the time
I can actually get it. It looks like the Presidential Dollars will be
available locally on the day they are officially released.

In article ,
"Roßert G. Schaffrath" wrote:

I got one roll at one bank that is limiting customers to one roll and
an extra $10 loose for my various albums at another bank.

I'm glad you could get Adams dollars on the first day, but why would a
bank limit customers to one roll when they can get as many as they want
from the Fed?

It's another example of banks and retail stores not treating dollar
coins as "real money" but as "collectibles".

Paul

--
Paul Anderson
OpenVMS Engineering
Hewlett-Packard Company

On Fri, 18 May 2007 15:13:01 -0400, Paul Anderson
wrote:

In article ,
"Roßert G. Schaffrath" wrote:

I got one roll at one bank that is limiting customers to one roll and
an extra $10 loose for my various albums at another bank.

I'm glad you could get Adams dollars on the first day, but why would a
bank limit customers to one roll when they can get as many as they want
from the Fed?

It's another example of banks and retail stores not treating dollar
coins as "real money" but as "collectibles".

Paul

It might have to do with the fact that the banks have top pay MORE
THAN JUST FACE VALUE for rolled coin, and they provide exactly -0-
revenue except when they are requested by business customers.


Reclining Buddha

The Original Couch Potato!

In article ,
Reclining Buddha wrote:

It might have to do with the fact that the banks have top pay MORE
THAN JUST FACE VALUE for rolled coin, and they provide exactly -0-
revenue except when they are requested by business customers.

I have two questions.

1. Do banks pay more than face value for bills?

2. Does the Federal Reserve charge more than $1000 for a $1000 box
of unmixed Presidential dollars?

Paul

--
Paul Anderson
OpenVMS Engineering
Hewlett-Packard Company

From what I was told, the banks pay for an armored car delivery. If the money is included
in the regularly scheduled delivery, there is no extra charge from the armored car
company. If they request an extra or 'emergency' delivery, they get charged $50.

Federal reserve policy is listed on their website. I've provided links many times.

Banks charge business customers for currency and coin that they order for use as "change".

I get boxes of dollar coins and bundles of Twos for ZERO fee since I have them delivered
with a normal delivery.

--
"""Remove "zorch" from address (2 places) to reply.
http://www.sirius.com/


"Paul Anderson" wrote in message
news
In article ,
Reclining Buddha wrote:

It might have to do with the fact that the banks have top pay MORE
THAN JUST FACE VALUE for rolled coin, and they provide exactly -0-
revenue except when they are requested by business customers.

I have two questions.

1. Do banks pay more than face value for bills?

2. Does the Federal Reserve charge more than $1000 for a $1000 box
of unmixed Presidential dollars?

Paul

--
Paul Anderson
OpenVMS Engineering
Hewlett-Packard Company

On Fri, 18 May 2007 16:49:36 -0400, Paul Anderson
wrote:

In article ,
Reclining Buddha wrote:

It might have to do with the fact that the banks have top pay MORE
THAN JUST FACE VALUE for rolled coin, and they provide exactly -0-
revenue except when they are requested by business customers.

I have two questions.

1. Do banks pay more than face value for bills?

2. Does the Federal Reserve charge more than $1000 for a $1000 box
of unmixed Presidential dollars?

Paul

1. I don't know.

2. None of the banks in my area receive coins from the fed. They are
acquired through Brinks and a number of similar companies, who do not
provide their services pro bono.


Reclining Buddha

The Original Couch Potato!

Paul Anderson wrote:
In article ,
"Roßert G. Schaffrath" wrote:

I got one roll at one bank that is limiting customers to one roll and
an extra $10 loose for my various albums at another bank.

I'm glad you could get Adams dollars on the first day, but why would a
bank limit customers to one roll when they can get as many as they want
from the Fed?


To be honest I am not sure why. The teller said right off when I asked
if they had them that they were limited to one roll to a customer. I
have seen other posters offer plausible suggestions. I have had similar
situations with banks that have limited me to two rolls of State
Quarters (I usually need three). At least in the case of the John Adams
dollar, one roll was enough. At $25 a pop they are bit too pricey to
buy and store more than one so I did not have any objection to the
restriction. If I wanted more it would be easy enough to get them at my
other sources. I definitely see more banks participating in the
"Presibux" program than the State Quarters program.

I was able to get $300 in Washington's in February on the first day. I
went to the same bank on Thursday and my $125 purchase cleaned them out.
(But they didn't hesitate to give them to me.)

I was told that this time they distributed more of the initial order to
the other branches (I was at the main branch). However the branch I
stopped by afterward hadn't seen them yet, but had a written list of
people who wanted new dollars and new quarters.

B.J.

Roßert G. Schaffrath wrote:
After reading here on the newsgroups that people were able to get the
John Adams dollar coins yesterday, I decided to check the local banks
around me and see if they were available. Yes indeed! I got one roll
at one bank that is limiting customers to one roll and an extra $10
loose for my various albums at another bank.

I am glad to see the Presidential Dollar program being executed
differently than the State Quarters program. Usually it takes at least
one month from the official release date of a State Quarter to the time
I can actually get it. It looks like the Presidential Dollars will be
available locally on the day they are officially released.

Thanks,
B.J.
--
B.J. Herbison / / http://www.herbison.com/herbison/bj.html
The Next Asylum / 203 Long Hill Road / Bolton, MA 01740-1421 / +1 978
634-1061

On May 19, 5:47 pm, "B.J. Herbison" wrote:
I was able to get $300 in Washington's in February on the first day. I
went to the same bank on Thursday and my $125 purchase cleaned them out.
(But they didn't hesitate to give them to me.)

I was told that this time they distributed more of the initial order to
the other branches (I was at the main branch). However the branch I
stopped by afterward hadn't seen them yet, but had a written list of
people who wanted new dollars and new quarters.

B.J.

Roßert G. Schaffrath wrote:
After reading here on the newsgroups that people were able to get the
John Adams dollar coins yesterday, I decided to check the local banks
around me and see if they were available. Yes indeed! I got one roll
at one bank that is limiting customers to one roll and an extra $10
loose for my various albums at another bank.

I am glad to see the Presidential Dollar program being executed
differently than the State Quarters program. Usually it takes at least
one month from the official release date of a State Quarter to the time
I can actually get it. It looks like the Presidential Dollars will be
available locally on the day they are officially released.

Thanks,
B.J.
--
B.J. Herbison / /http://www.herbison.com/herbison/bj.html
The Next Asylum / 203 Long Hill Road / Bolton, MA 01740-1421 / +1 978
634-1061

Sheesh, my banks here are happy to give me boxes of the dollars.
picked up 2k from one and 1k from another, they said I could have
first crack at the next shipment tuesday too. Did the same with
George. They only limited me when they needed to give a box to their
other branches.