Ok, so they want to change the way Raid loot works and whatnot..... how about this?

The old Warded Chest has a chance to drop a token of some sort.... Reaver's Coin, Velah's Scale, Lailiat's Bracelet, etc.
There's a collector in the Bank (he's got a brother in the other bank) that collects stuff....
Take the item to the collector guy and pick an item.

The collector randomly generates 4 different raid loot items from the appropriate raid and you get you pick whichever one you want.