Policy 3625: Unwrapped Coins
No. 3625
Subject: Unwrapped Coins
Rev.:
1
Virginia Polytechnic Institute and State University
Policy and Procedures
Date: June 17, 1999
1. Purpose
This policy addresses the practice of tendering large amounts of loose
or unwrapped coins as payment of debts in the Office of the University
Bursar.
2. Policy
The Office of the University Bursar will not accept unwrapped or loose
coins in payment of amounts owed the university. Large amounts of coins
must be rolled with the name and social security number of the person making
the payment on each roll.
3. Procedures
If coins are used to make a payment, they must be presented rolled in quantities
as follows:
| Pennies |
50 or more ($.50) |
| Nickels |
40 or more ($2) |
| Dimes |
50 or more ($5) |
| Quarters |
40 or more ($10) |
| Half dollars |
20 or more ($10) |
4. Definitions
5. References
6. Approval and Revisions
-
Revision 0
Approved March 18, 1991, by University Bursar, Mary K. Thompson.
-
Revision 1
Section 2.0. Treasury Management was changed to the Office of the
University Bursar.
Approved June 17, 1999, by Vice President for Finance and Treasurer, Raymond
D. Smoot, Jr.