Coin rolling scams
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Coin-rolling related scams are a collection of
To prevent these problems, many banks will require people turning in coins to have an account, and will debit the customer's account in the event of a shorted roll. Some banks also have
Penny and dime scam
The con will wrap pennies into a dime-roll wrapper and try to exchange it; this is known as "penny rolling" in slang. Sometimes the con will also exchange other legitimate rolls of coins at the same time. Another trick is to put dimes on the visible ends of the roll, and hidden pennies on the inside. This scam can also be done using nickels and quarters by placing 2 quarters on the ends and placing nickels in between.
Short-rolling scams
Alternatively, one can place one or two fewer coins than usual in each roll. Half-dollars are a common choice for this kind of scam, for two reasons. First, there are only 20 coins per half-dollar roll, increasing the profit percentage. Also, since half-dollars rarely circulate, most bank tellers are unaware of the proper length and/or weight of a roll. Also owing to their lack of circulation, the missing coins are not likely to be discovered for a long time.
"Unsearched" roll scams
As the practice of
Foreign coin scams
Another possibility is to pad foreign coins into the rolls. Generally cancelled European coins (see Euro) are used. Such coins can often be purchased in bulk at flea markets. Some con artists bank on the fact that the typical customer will recirculate these coins, or keep them for themselves thinking they are valuable.
In the
Various currencies, including the 500
Coin bags
In the United Kingdom and, until 2002, the Republic of Ireland, coin wrappers are not used, instead small plastic bags are provided free of charge at banks which are filled by the customer with the appropriate amount of the same value coin as printed on the bag. When depositing or changing, the bags are weighed at the bank to check they contain the right amount.[4] The contents of the clear bag are easy for the bank teller to check.
See also
- Confidence trick
References
- ^ ""UNSEARCHED" Wheat Roll Bought Off Ebay. Watch This Video BEFORE You Buy. Indian Ender". YouTube. HalfDolla' MakeYouHolla'.
- ^ Steves, Rick. "Tourist Scams and Rip-Offs". Rick Steves's Europe. Retrieved 21 October 2016.
- ^ "Calculator for Italian Lire (ITL) Currency Exchange Rate Conversion".
- ^ "Archived copy". Archived from the original on 2011-07-15. Retrieved 2010-03-09.
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