Yes, a bank can refuse dirty or damaged coins because they deem them unfit for circulation, especially if they jam counting machines or are heavily corroded, though they are technically still legal tender; banks prefer coins that are clean, rolled, and in good condition, so you might need to clean them or use specialized services for heavily soiled currency.
Contaminated Coin Procedures
The Federal Reserve does not accept deposits of Contaminated Coin. Customers who wish to deposit coin after decontamination should contact their FedCash Services contact.
Yes. A bank can set its own internal policy as to whether it will accept or exchange unrolled coins for currency.
Bent or Mutilated Coins
Some stores and banks will take coins at face value if they're not too badly damaged, but it's totally at their discretion. Banks will then forward them to the Federal Reserve for deposit and replacement.
Polishing and/or cleaning coins can reduce their value. Older coins that show deep age coloration are more desirable than coins whose surfaces have been stripped away by improper polishing or cleaning. If you do polish a coin to remove dirt, use mild soap and water.
The short answer is simple: don't clean your old coins. Even well-intentioned cleaning can permanently reduce their value, strip away historical patina, and leave invisible damage.
One common reason is that dirt can obscure the unique markings on a coin, such as its size, weight, or metallic composition, which the machine uses to verify its authenticity and value. Additionally, dirt can affect the electrical conductivity of the coin, which some machines use for identification.
Technically yes if the check was still preserved in good form and that everything written on the check is legible, authentic and complete.
Most banks accept coins for cash exchange, though services vary by institution. Large banks typically require pre-rolled coins, while some smaller institutions and credit unions provide self-service counting machines. The services depend on the bank, so it's a good idea to call your nearest branch.
Any fused, melted, or otherwise mutilated coin should be sent to the United States Mint for evaluation.
Reasons for a Dishonoured Cheque
Treasury regulation 31 CFR 103.29 prohibits financial institutions from issuing or selling monetary instruments purchased with cash in amounts of $3,000 to $10,000, inclusive, unless it obtains and records certain identifying information on the purchaser and specific transaction information.
Community banks and credit unions
Your first stop should be your own bank or credit union to see if it offers free coin exchange. Most banks will accept rolled coins to deposit, but many big banks have phased out their coin-counting services for loose coins in recent years.
Try taking old or foreign coins to your local charity shop as many charities accept them to help raise valuable funds. You can also often donate foreign coins on your return flight from holiday.
Yes, banks and credit unions still take rolled coin. You can get coin rolls at the dollar store, or, your bank/CU may have some to provide - at least, LMCU does. Your bank will Gove you the change rollers for free and you can roll and bring back.
If a potentially valuable coin must be cleaned (for example if the coin is deformed) then professional work is recommended. Commonly found coins are mentioned as ideal candidates for any attempted cleaning experiments.
Your bank teller will not look kindly on you if you bring in bags of unsorted change and in many branches they will not be able to sort it for you. Just ask for money bags at the counter, sort the change at home yourself and put the coins in their corresponding bags.
Calculate Coinstar's Fee
Coinstar's fee is currently set at 11.9 percent of the value of the coins you're exchanging. Basically: That's nearly $12 for every $100 in coins you feed to the machine. You'd have to guess how much change you have accumulated to calculate the Coinstar fee.
To use a Cash Exchange Machine, you'll need a NAB debit card, credit card, deposit-only card or quick-change card. The process is simple. Insert the card and follow the machine prompts which will ask you to insert the cash you wish to exchange and to select the denomination of coins and notes you're looking for.
Any badly soiled, dirty, defaced, disintegrated, limp, torn or worn out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value, is not considered mutilated and should be included in your normal deposit.
Personal, business, and payroll checks are good for 6 months (180 days). Some businesses have “void after 90 days” pre-printed on their checks. Most banks will honor those checks for up to 180 days and the pre-printed language is meant to encourage people to deposit or cash a check sooner than later.
Individuals, financial institutions, and businesses may contact the Department of the Treasury's Bureau of Engraving and Printing (BEP) if they are in possession of mutilated U.S. currency, meaning that the currency has been damaged to the extent that one-half or less of the original note remains, or its condition is ...
For a more hands-on approach to coin cleaning, try this method:
Myth 2: Strong Chemicals Like Ketchup or Coca-Cola Make Coins Shine. Yes, these household items are acidic and will remove tarnish, but they also strip away the coin's natural protective layer. Over time, this can cause corrosion, particularly with copper and silver coins.