Strange pick up today.

[baggerman]

Haven't sorted for a while but stopped by to pick up a bag or two from my usual spot. The teller tells me that they can not sell bags of coins because of security reasons so I ask what security reason? She says it is to stop terrorists from laundering money, I damn near fell over laughing. I then shared that I doubt that any terrorist is going to launder money by buying pennies. She went to the office and came back and said they could not sell me any. I gave her my account number and asked her to look at the note on my account ( from upper management giving me permission to buy bulk coin) so back to the office she goes. She comes back and says they have two bags so I buy them and leave while laughing all the way out the door.

[RichardPenny43]

Terrorists...

[Numis Pam]

Seriously??? Now I think I have heard it all!!

[Morsecode]

You should contact the local newspaper or station. I'm sure they'd love a story about thwarting terrorists in Oregon by cutting off their penny supply. Let them embarrass the bank; someone needs to answer for Stupidity.

[ZenOps]

http://ph.news.yahoo.com/penalty-coin-h ... 00130.html

In filing House Bill 1662, Iloilo Rep. Jerry Trenas expressed concern that such practice "is tantamount to economic sabotage, and is creating an artificial shortage of coins."

Coin hoarding (even copper plated zinc, or copper plated iron coinage) can be considered an act of economic sabotage. Could it be fineable or jailable to hoard pennies and/or nickels? All they need to do is flick a pen and its 8 years for hoarding 8,000 copper plated iron coins.

Its a five year maximum jail penalty to transport $101 worth of US pennies or nickels to Canada, so the US has already instituted some anti-hoarding laws.

[Morsecode]

Its a five year maximum jail penalty to transport $101 worth of US pennies or nickels to Canada, so the US has already instituted some anti-hoarding laws.

Unless this law was just passed yesterday, I am unaware of any such restriction. Couldn't find anything with a google search.

[johnbrickner]

Absolutely hilarious! InF-ingcredible. Would I love to get something like that on vid and release to youtube. The ultimate boogie man, "terrorists". Soon to be the standing reason or pat answer for everything. Little Johnny, eat everything on your plate. Why mommy? It will starve the terrorists in Iran.

What a sorry a$$ed state of affairs our country is in . . . when bank tellers have to tell us this in order to deny us pennies.

Now doubling my sorting efforts in copper.

[SilverDragon72]

Wow! I haven't heard that one yet.

I didn't know there was any kind of anti hoarding laws in the US....

Economic sabotage! Get out of here!

[ScrapMetal]

Tellers make up all kind of stories. At most of the banks I frequent, they seem to have a very high turn over rate also.
My main bank gave me a bag of pennies from their sorter. The next time I asked, I was informed that it was forbidden by corporate.
I emailed the corporate headquarters to inquire, and was informed they had no such policy. So banks lie all the time, what else is new?

[Morsecode]

TD Bank is famous for this. When informed by a manager that selling bags was against bank policy I gently (and smugly) corrected her..."That is branch policy, my dear - not bank policy. I'll get a bag on West Main St."

When I got to West Main, Dana had a bag waiting for me. She laughed...the other manager had called and tried to dissuade her from selling me coin.

[spacemanX]

this is absolutely ridiculous, comical and sad all in the same story.

[aloneibreak]

Its a five year maximum jail penalty to transport $101 worth of US pennies or nickels to Canada, so the US has already instituted some anti-hoarding laws.

Unless this law was just passed yesterday, I am unaware of any such restriction. Couldn't find anything with a google search.

I think this is what he was referencing

still in effect as far as I know...

http://www.usmint.gov/pressroom/index.c ... ase&ID=724

from the article...

The regulations also prohibit the unlicensed exportation of these coins, except that travelers may take up to $5 in these coins out of the country, and individuals may ship up to $100 in these coins out of the country in any one shipment for legitimate coinage and numismatic purposes.

The new regulations authorize a fine of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulations.

[Morsecode]

"The new regulations authorize a fine of not more than $10,000, or imprisonment of not more than five years, or both, against a person who knowingly violates the regulations. In addition, by law, any coins exported, melted, or treated in violation of the regulation shall be forfeited to the United States Government.

The regulations are being issued in the form of an interim rule, to be effective for a period of 120 days from the time of publication. The interim rule states that during a 30-day period from the date of publication, the public can submit written comments to the United States Mint on the regulations. Upon consideration of such comments, the Director of the United States Mint would then issue the final rule."

So, all you need to do is say you didn't know.

I wonder, too, what the final ruling was following the comment period. Was it fully enacted? Has it expired?

But thanks for the link...interesting.

[aloneibreak]

I wonder, too, what the final ruling was following the comment period. Was it fully enacted? Has it expired?

.

found this...

http://www.usmint.gov/pressroom/?action ... ase&ID=771

and...

http://view.officeapps.live.com/op/view ... eDraft.doc

and youre right -- ive done a lot of things "unknowingly"

[Morsecode]

That 2nd link you posted is a gem. Anyone interested in sorting should view it.

It's appalling that a total of only 31 comments were submitted to the Mint, though it does appear they took the suggestions seriously. In the end, the $5 limit was increased to $25

[Morsecode]

And this tidbit:

"...The regulation here is necessary to protect the United States coinage.  In addition, the standby authority that the Secretary of theTreasury possesses under 31 U.S.C. § 5111(d) has been in effect since 1965;therefore, members of the public generally have been on notice that they accept and use U.S. coinage subject to this potential limitation.  None of the comments set forth any specific theory under which the regulation is asserted to be unconstitutional, and we continue to believe that this is not the case."

Basically then, the anti-hoarding rule is already in place regulatory-wise. Treasury can turn that switch on at any time. I did not realize that.

[baggerman]

The best part of this is that some terrorist must have dumped their stash to launder it. The first bag (the only one I have sorted do far) was 35% copper.

[HoardCopperByTheTon]

Oh man.. I knew my evil penny terrorist ways would land me in the big house someday. I hear in prison they do not allow any coins.. not even pennies. No conjugal visits with your Ryedales. No sorting.. that is "Hard Time"

Honest ma'am, I don't want to engage in economic terrorism.. I'll bring them back tomorrow. Do you prefer them rolled or bagged?

[fansubs_ca]

Clearly the terrorists have developed a weapon that auto-fires pennies.

(The machines to sharpen the edges on and auto-fire AOL discs now being
obsolete. )

I did once have someone at my credit union tell me they couldn't cash 3rd
party checks because the money might be for funding terrorism.

For a few months before that I was running a nifty little side bussiness. At
my work we were getting our paycheks several days before the payday
it was dated for. When I found out that one of my co-workers was cashing
them at Money Mart because they would cash post-dated checks I offered
to cash them for him for half the fee they charged. I was making a nice
return for tying up some money for a few days there. Not a lot of money
but a few bucks extra every 2 weeks. It just took that long for them to
notice though. Apparently what used to be a normal practice is almost
eliminated now.

Until then I'd never suspected Jamie was a terrorist!

[tedandcam]

I gave her my account number and asked her to look at the note on my account ( from upper management giving me permission to buy bulk coin) so back to the office she goes. She comes back and says they have two bags so I buy them and leave while laughing all the way out the door.

I want a note on my accounts like that! At my 2 pick up banks I never have a problem, though. At my 3rd one...they have me limited. I take the limit...evry single time been thinking of upping my business with them to possibly UP my limit.

[cesariojpn]

Clearly the terrorists have developed a weapon that auto-fires pennies.

[fansubs_ca]

500¥ coins are a bit too costly to be firing off. ^_-

What series is that from? I'm not as familiar with the newwer shows.

[cesariojpn]

500¥ coins are a bit too costly to be firing off. ^_-

What series is that from? I'm not as familiar with the newwer shows.

Ghost in the Shell: Stand Alone Complex. Episode 14: "SA: Automated Capitalism – ¥€$"

IIRC, the assassin used coins for her killing weapon as an ironic metaphor for her target, a mathematician that got rich by his abilities with numbers.