One of the operational units within our bank offers customers the opportunity to purchase gold and/or silver coins and have them delivered to their place of residence via the US Postal Service. In the case of US Mint coins , such as $50 Buffalo gold coins, are these considered "currency" for purposes of CTR filing, and if so, what amount should be indicated on the CTR; the face value of the coins (ie. 201 coins @ $50 = $10,050), or the intrinsic value of the coins (ie. 201 1 oz. gold coins @ $900 ea = $180,900)? Can you direct me to any regs that address this question?
We were discussing putting a statement in our safe deposit box agreement that the customer agrees not to place currency, coin, jewelery or any other valuables in their safe deposit box. Are there any laws against this type of verbiage and is it effective in a lawsuit against the bank for missing items?
Do we have to file a CTR in the following situation? The owner makes a deposit into his business account in the amount of $9,800.00. Later that day, one of his employees comes in and obtains coin order in the amount of $500.00. Are we to assume that the coin order is done on behalf of the business, and file a CTR for the total of $10,300.00?
Question: We have a vending machine company who hires Brinks to pick up their coin.
- The new nickel has the right side of Thomas Jefferson's face. The old one had his left side featured. The written word "liberty" on the coin is actually a copy of Jefferson's handwritingU.S.
The place to be for coin collectors recently was Milwaukee, Wisconsin as Bank One celebrated the release of the state's new quarter by giving 29,600 of them away for free.
Stephen Jackson allegedly robbed a Charter One Bank in Cleveland early in the day. Unfortunately, the dye pack went off and stained all the currency.
Question: We have another question on the CTR. We have a business customer who brings in $15,000 cash and deposits $12,000 into a DDA account.
There seems to be confusion on the procedures best recommended when dealing with counterfeit currency. Should the Bank ever give the bill back to the merchant?
If a business brings in a cash deposit to our bank and we find counterfeit money in the deposit, they must take the loss, correct?