No. As we previously mentioned in this column, banks do not sell coin wrappers. We have written extensively on the topic and this article is one of our most popular.
Coin wrappers are basically custom currency tokens that are imprinted on the coin. They are generally made to look identical to the actual coin in a similar way that a stamp can be a replica of the actual coin but are also designed by the bank to be sold to customers who want them.
Why don’t banks sell banknote wrappers?
There are a number of reasons why banks do not sell banknote wrappers. The most basic one is that the banks are afraid of the potential liability of counterfeiting banknotes, so there is a reluctance by many banks to engage in this activity. Banks also feel they cannot give a customer the correct information on the reverse side of the note in order to make it believable to them. Banknote wrappers are not required by law to state any bank information. Therefore, the appearance of the banknote in a store is not sufficient to prove that it is genuine.
In a related story, one bank customer sued to make public the identity of the customer who allegedly bought the fake banknotes. The court ruled that the identity of the customer was not relevant to the case, but the judge did note that in some cases, the “looks” on coins are much more important than what the actual bank name is on the coin. Therefore, banks still sell banknote wrappers because they are more likely to sell the fake coins anyway.
What’s the biggest con involved with coin wrappers?
Because coin wrappers are so complicated to produce, people have been trying to figure out a way to print them at scale. The best example is printed paper money, but it works on coins as well. The problem with paper money, however, is that it is extremely difficult to do, and the production is very costly. Coin wrappers were supposedly easy to manufacture, and would save the banks a lot of money, but the process has proven difficult and unreliable. This has left coin wrap manufacturers, who are primarily hobbyists and hobbyists only, to fill the void. The paper money issue is a particularly good example because the paper money issue is extremely expensive, making coin wrap a good solution for hobbyists looking for cheap ways to make paper money. On the surface of it, coin wrap appeared to work great for coin collectors and hobbyists. However, it turned out that the
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