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Mint no longer accepting “found” coins?

Ronstar

Member
Just went in to turn in $60 worth of 25/10/5 coins at our bank. Advised US Mint no longer will accept coins that are oxidized, burnt, damaged, etc to the point of “not normally recognizable” or that banking facilities should not accept coins that could not be turned around and put back out to customers or businesses. Given website for USMint.gov which I cant find anything there that advises such.
I trust our bank and know they have to abide by the policies they get but when did this start. I have cleaned the coins to the point no dirt etc is present, only badly oxidized. Has there been a change in Mint policy? What about monies damaged by fires etc etc...?
Can somebody ref me to a site with definitive answers cuz above site is worthless for asking questions.
 

Ronstar

Member
There is absolutely nothing on the website addressing this other than under Consumer Alerts there is an advisement regarding bent or other such damage in which the coins could not be counted by machine. I have sent an email to the Mint for further clarification and will post a response once received.
Ron
 

Ronstar

Member
Update: Mint responded. They have nothing to do with banking policy so sounds like bank just trying to get out of accepting them. They have tho, temporarily stopped taking applications to accept mutilated monies. In a further inquiry, discolored coins is not considered mutilated. So, I will do a final update on this once I find out the banks reasoning. Thanks for your patience......
 

GeorgeinSC

Well-known member
Contrary to popular belief Banks are Not required to accept any currency or coins. The mint for a long time would not take corroded zinc pennies. You have to ship damaged coins to them. If its zinc pennies it is not worth the hassle. Some Federal Reserve Banks May take damaged money. But not our local banks.
 
You lose ~6% value, but I take mine to the Coin Counter machines located at grocers or WallyMart outlets. Note - it won't accept 'toasted' zinc pennies either, but they often reject silver. Got two GW quarters a week or so ago. Their loss = my gain.
 
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