Two banks, Brink’s trucks, and no sign of a jumbo load of coins

[n2doc]

By Todd Wallack
Globe Staff / January 27, 2011

It’s the $64,000 question — or $64,500 to be exact: What happened to more than two tons of US coins a Fall River bank handed off to an armored car carrier last year?

BankFive regularly sells its extra coins to Eastern Bank of Boston, which exchanges currency for local small banks. But last February, two shipments of coins — 111 plastic bags of loose change — left BankFive in Brink’s armored trucks, bound for a company in Taunton that processes money for Eastern Bank.

“The money never reached us,’’ said Eastern Bank spokesman Andrew Ravens.

Where the money has gone is a mystery. It would seem pretty hard to misplace or have this amount of change stolen. It’s bulky, difficult to move, and inconvenient to exchange: 470,000 quarters, dimes, nickels, and pennies. The coins weigh an estimated 4,317 pounds and, if stacked, would be three times the height of Boston’s Hancock Tower.

“It’s hard to believe all those coins would just be lost,’’ said Scott McConchie, a Boston lawyer representing BankFive. “How can you steal that many bags?’’

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http://www.boston.com/business/articles/2011/01/27/two_banks_brinks_trucks_and_no_sign_of_a_jumbo_load_of_coins/?p1=News_links

Better check at the Dick Cheney Residence...

[shraby]

1. Doesn't seem like it would be much of a mystery.

The drivers of the truck should have signed for and were responsible for getting the bags to the place they were going. On delivery, it would have been signed for. What's called a paper trail.

[Blue_Tires]

2. back when i was a kid i would have taken the quarters

and raised hell at every local video game arcade (remember those?)

maybe the bank is trying to cover for some kind of bureaucratic loss or theft...The fact that the bank didn't report it missing is telling...

[MedicalAdmin]

3. They sent it to a corporate bank.

Mines loses paperwork on a dialy basis. My latest snafu with them has had me send the paperwork to them 6 times by fedex with a signature. The most recent time I took a video and pictures of the letter being loaded and sent to them and with me sealing it and handing it off at the fedex office. When they said that they didn't get it again I forwarded the signature reciept and video to them along with a note from my lawyer about the ramifications for that level of incompetence. And golly gee whiz - THEY FOUND IT. Whodathunkit?

The small bank sent the money to the big bank who pocketed it, didn't log it of do any of the legal requirements they have and then shrugged their shoulders and said "gee, we didn't get it."

I'm callin' BS on the big bank. Once a thief.... Those fuckers have gotten away with so much for so long that they think they are immune.

[hvn_nbr_2]

4. A mortgage fraudster bank branched out and issued $10 trillion of...

"coin-backed securities" backed by 17 quarters and a dime. They're deciding how soon to issue $20 trillion more, backed by the rest of the coins.