Coin Counting Machines

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Barefootgirl
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Coin Counting Machines

Post by Barefootgirl »

I went into my bank branch today to use one of their counting machines...it's a free service for customers...great machines, throw your coins on the belt, the machine counts them and spits out a receipt that you take to the window to be credited to your account...except they pulled all the machines out of the branches recently.

The branch manager said they were too expensive to maintain..(I smell an opportunity, lol)

So, I took my bag to the closest grocery store with a Coin Star machine - that machine gave me a gift card for Amazon instead of a credit. If I had wanted the cash instead, it would charged me an 11% fee.

Do you all have any other options for this service? (If you care not to roll your own)?

BFG
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niceguy7376
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Re: Coin Counting Machines

Post by niceguy7376 »

fifth third bank still has them. dont know if your area has this bank. The last time i used, it was 8%. inflation i suppose.

i use my coins for small purchases of less than $5. most of the coins are in the piggy bank of our kids in their room.
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walkabout
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Re: Coin Counting Machines

Post by walkabout »

Our credit union has a machine, but it doesn't work very well. Usually seems to break down (or jam) partway through. Because of that we have been taking our coins to Publix, which has a much better machine. Can't remember the brand, but it is not Coinstar. The machine seems rock solid and fast. I think they charge 8%.
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rob
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Re: Coin Counting Machines

Post by rob »

Every few years we visit the coinstar machine at the grocery store (get amazon credit as well due to the cost otherwise and mazong credit is close enough to cash for me)......... Kids love feeding it all into the machine so it's got some enterniment value as well :-)
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dm200
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Re: Coin Counting Machines

Post by dm200 »

Barefootgirl wrote:I went into my bank branch today to use one of their counting machines...it's a free service for customers...great machines, throw your coins on the belt, the machine counts them and spits out a receipt that you take to the window to be credited to your account...except they pulled all the machines out of the branches recently.

The branch manager said they were too expensive to maintain..(I smell an opportunity, lol)

So, I took my bag to the closest grocery store with a Coin Star machine - that machine gave me a gift card for Amazon instead of a credit. If I had wanted the cash instead, it would charged me an 11% fee.

Do you all have any other options for this service? (If you care not to roll your own)?

BFG
Our local grocery store (Giant) has a coin counting machine (I think it is Coinstar) and one option (of several) is a "Gift card" for use at Giant with full value for the coins. Since I shop there regularly, to me this is the same as full value cash. Only rarely do I have such coins, since I almost always use up coins when making purchases, and do not accumulate them in a jar, etc.

I believe there are still a few area credit unions that may have free coin machines in their branch lobbies.
flyingbison
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Re: Coin Counting Machines

Post by flyingbison »

My credit union still has one for customers.

Until a couple of years ago, I still used to count and roll my coins once in a while and take those to the bank.
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Traveller
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Re: Coin Counting Machines

Post by Traveller »

Coinstar as an Amazon credit to avoid fee for me.

My nightly change gets dumped into a big mason jar and when full it goes to the Coinstar. The funny thing is that a quart size jar filled to the top with random change seems to always hold $104 plus or minus $3.
investor1
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Re: Coin Counting Machines

Post by investor1 »

I've always rolled my own and take them to the bank to deposit them into my account. When I switched to a credit union a couple of years ago, they had (and still have) a counting machine that is free for members. Since they have that, they won't take the coins I already have rolled which means I walk in with rolled coins and have to open the rolls and dump them into the machine.

I still roll them since I use the plastic tubes used for rolling them as my piggy bank.
linenfort
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Re: Coin Counting Machines

Post by linenfort »

Barefootgirl wrote:I went into my bank branch today to use one of their counting machines...i
<snip>
...except they pulled all the machines out of the branches recently.
BFG
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runner9
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Re: Coin Counting Machines

Post by runner9 »

I just use the coins I have the next time i go to the store. That way I never have more than $1 in coins. This of course is only for two places, Aldi is one, that don't take credit cards.
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dratkinson
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Re: Coin Counting Machines

Post by dratkinson »

Traveller wrote:Coinstar as an Amazon credit to avoid fee for me.

My nightly change gets dumped into a big mason jar and when full it goes to the Coinstar. The funny thing is that a quart size jar filled to the top with random change seems to always hold $104 plus or minus $3.
A quart holds ~$100 in change. Good to know conversion. Will need to interpolate to get my Skippy peanut butter jar conversion.

Recall seeing personal coin sorting/wrapping machine advertised.
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telemark
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Re: Coin Counting Machines

Post by telemark »

runner9 wrote:I just use the coins I have the next time i go to the store. That way I never have more than $1 in coins. This of course is only for two places, Aldi is one, that don't take credit cards.
Me too, though I've noticed lately that a lot of cashiers get confused when you give them extra coins. I always knew allowing those pocket calculator things in schools was a mistake :wink:
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CABob
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Re: Coin Counting Machines

Post by CABob »

Personally, I make it a point to spend my coins as fast as I accumulate them. It sometimes takes a while, but eventually I get rid of them. To me this makes more sense that putting them aside and then trying to figure out how to cash them by the jar full.
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dumbbunny
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Re: Coin Counting Machines

Post by dumbbunny »

I took my coins to the casino and the cashier handed me paper money and change - no fee except what I spent at the craps table.
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scrabbler1
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Re: Coin Counting Machines

Post by scrabbler1 »

Once in a while, I use the self-checkout machine at the supermarket. I can use as part of my payment all the coins I want (anything less than a quarter). If I get coins back as change, I get quarters first which is fine.
lightheir
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Re: Coin Counting Machines

Post by lightheir »

Yes, my Wells Fargo stopped accepted loose change last year, unfortunately.

Coinstar is expensive and adds up.

I ended up buying a manual coin sorter where you turn a handle and it sorts/drops the coins into tubes. It worked great, but you MUST also order the preformed paper tubes for the coins - the flat shipped ones do NOT work (the coins don't quite fall in and bounce out.)

This worked fine for me mainly because I had a LOT of coins to sort up front. However, once it's all sorted, it's actually not too much work to just use one of the plastic thingies with 4 cylinders and just stuff the coins in yourself by hand. It takes up less room, and you can use the flattened coin tubes since you're manually stuffing the coins in.

But for large amounts of coins, the manual crank-arm sorter + preformed coin tubes (there are electric ones too) worked great. Costs about $35 for all the stuff on Amazon.
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Jazztonight
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Re: Coin Counting Machines

Post by Jazztonight »

I avoid keeping coins. They just accumulate and then are difficult to get rid of, just for the reasons you mention.

So basically, what I do is use them for tips. When I go to the taqueria or frozen yogurt place, the people behind the counter are the beneficiaries of me not wanting to hoard/collect coins like I used to do.

Finally, I find that I use cash so infrequently these days, that it's not a major issue. Most purchases I make do not involve cash.
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awval999
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Re: Coin Counting Machines

Post by awval999 »

Using Coinstar and receiving your money in Amazon credit is as good as cash.
You can buy anything on Amazon. Batteries, toiletries, gifts, games, etc.
I personally give all coins to my wife, except pennies. I throw away pennies.
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Re: Coin Counting Machines

Post by Jack FFR1846 »

Give me $100 in coins and I'll have them spent in a couple days. Lots of convenience stores, fast food places, other high traffic places run out of change. I'll ask the girl at Dunkin Donuts if she needs change and I might as well have been Justin Timberlake and asked her to marry me. I'll sort out $20 in coins and get a bill and be on my way.
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placeholder
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Re: Coin Counting Machines

Post by placeholder »

I just don't accumulate change to any degree because I mostly use credit cards and at the few places where I do use cash I use pocket change as needed for purchases.
etarini
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Re: Coin Counting Machines

Post by etarini »

I used to bring them to my savings bank, too, but they don't do it anymore, so I'm reconciled to using Coinstar.

I always get the Amazon certificate, but, seriously, it shouldn't be too hard to find something else you could spend it on, even if you're not an on-line shopper. Here's the current lineup, from the Coinstar website:

Aéropostale, Amazon.com, AMC Theatres, Applebee's, Bass Pro Shops,Build-A-Bear Workshop, Chili's, Cold Stone Creamery, Forever 21,
GameStop, Gap Options, Home Depot, IHOP, iTunes®, Lowe's®, Nike®, Red Robin, Regal, Sears, Sephora, Sports Authority, Southwest Airlines, Staples, Starbucks, Toys R Us®

If you can't find a way spend your money from that list, you're just not trying hard enough. :happy

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joe8d
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Re: Coin Counting Machines

Post by joe8d »

Our library clerk has one of those plastic coin funnel contraptions. Just put coin wrapper ( free from bank ) on and drop coins in, close up and take to bank :happy
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AviN
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Re: Coin Counting Machines

Post by AviN »

Amazon gift cards are the same as cash to me, so I'm happy with the Coinstar machines.

I bought myself this coin sorter a few years ago and I'm not sure what I was thinking:

http://www.amazon.com/Royal-Sovereign-M ... oin+sorter
denovo
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Re: Coin Counting Machines

Post by denovo »

What is this change you speak of? Doesn't all money come via plastic cards?
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russellh
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Re: Coin Counting Machines

Post by russellh »

In the past I have taken coins to the post office and converted them into stamps. No fee for conversion.

I don't know if this is still an option, maybe the new post office stamp machines only take credit cards.
FedGuy
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Re: Coin Counting Machines

Post by FedGuy »

I generally pay in cash only for small purchases but tend to carry around a little coin purse thing. When it starts to get heavy, I simply use the change to pay for my next small purchase. A small snack at a convenience store, the bagel I sometimes get on my way to work, small purchases at the local hardware store, or snacks at the vending machine are all places that tend to accommodate my desire to get rid of change.

When I was a kid, my mother had several hundred dollars worth of pennies saved in an enormous container. That was fun when I went through my coin collecting phase in middle school, but was otherwise completely impractical. I think memories of that container are the main reason I'm determined never to have more than a couple of dollars of change at a time.
Call_Me_Op
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Re: Coin Counting Machines

Post by Call_Me_Op »

If you don't mind a little work, you can roll them up and redeem for paper money at any bank.
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Gambler
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Re: Coin Counting Machines

Post by Gambler »

nowadays, the only time I use coins is at the Costco fast food counter. they don't take credit cards there.

how accurate are the coin counting machines?
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dolphinsaremammals
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Re: Coin Counting Machines

Post by dolphinsaremammals »

lightheir wrote:Yes, my Wells Fargo stopped accepted loose change last year, unfortunately.
At the teller's window? Is that legal?

The local do it yourself car wash accepts coins, but not pennies, so that's where I use them up. I actually threw away pennies for the first time ever awhile back. Life is too short and they weigh down my purse.
placeholder
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Re: Coin Counting Machines

Post by placeholder »

russellh wrote:In the past I have taken coins to the post office and converted them into stamps.
I have more use for change day to day than stamps.
Luke Duke
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Re: Coin Counting Machines

Post by Luke Duke »

dratkinson wrote:
Traveller wrote:Coinstar as an Amazon credit to avoid fee for me.

My nightly change gets dumped into a big mason jar and when full it goes to the Coinstar. The funny thing is that a quart size jar filled to the top with random change seems to always hold $104 plus or minus $3.
A quart holds ~$100 in change. Good to know conversion. Will need to interpolate to get my Skippy peanut butter jar conversion.

Recall seeing personal coin sorting/wrapping machine advertised.
I guess that my 5gal water jug will be worth $2K+ when I fill it up. (I started filling it in 2000.) Actually, it should be worth more since I don't put pennies in it. After I caught my wife getting some coins out of it I jammed a golf ball in there. Now when it's tipped over the golf ball plugs the opening and makes it difficult to get coins out. :mrgreen:
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joe8d
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Re: Coin Counting Machines

Post by joe8d »

placeholder wrote:
russellh wrote:In the past I have taken coins to the post office and converted them into stamps.
I have more use for change day to day than stamps.
Does anyone else remember when you could send postage stamps instead coins for things like cereal box offers? :happy
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CABob
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Re: Coin Counting Machines

Post by CABob »

joe8d wrote:Does anyone else remember when you could send postage stamps instead coins for things like cereal box offers? :happy
Yes I do and it doesn't make me feel any younger.
And first class postage was probably no more than three cents.
:confused
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kazper
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Re: Coin Counting Machines

Post by kazper »

Luke Duke wrote:
dratkinson wrote:
Traveller wrote:Coinstar as an Amazon credit to avoid fee for me.

My nightly change gets dumped into a big mason jar and when full it goes to the Coinstar. The funny thing is that a quart size jar filled to the top with random change seems to always hold $104 plus or minus $3.
A quart holds ~$100 in change. Good to know conversion. Will need to interpolate to get my Skippy peanut butter jar conversion.

Recall seeing personal coin sorting/wrapping machine advertised.
I guess that my 5gal water jug will be worth $2K+ when I fill it up. (I started filling it in 2000.) Actually, it should be worth more since I don't put pennies in it. After I caught my wife getting some coins out of it I jammed a golf ball in there. Now when it's tipped over the golf ball plugs the opening and makes it difficult to get coins out. :mrgreen:
Lol, that is awesome. How do you plan on getting the golfball out when it is full?
john94549
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Re: Coin Counting Machines

Post by john94549 »

FWIW, I've recently begun "redeeming" some of my loose change down at the 7-Eleven. The guy's really nice, I try to go when there are no other customers (mid-morning is fairly quiet), and, well, milk is milk. I think the price is pretty much standard anywhere you shop here (in CA). Another option: the local gas station. I used about $25 in loose change the other day. He doesn't get much walk-in traffic after 9 am (most folks swipe these days), and we chat while he counts.

It is, after all, legal tender.

Note: I draw the line at pennies. I don't expect them to count pennies.
jlawrence01
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Re: Coin Counting Machines

Post by jlawrence01 »

Barefootgirl wrote:I went into my bank branch today to use one of their counting machines...it's a free service for customers...great machines, throw your coins on the belt, the machine counts them and spits out a receipt that you take to the window to be credited to your account...except they pulled all the machines out of the branches recently.

The branch manager said they were too expensive to maintain..(I smell an opportunity, lol)
I used to be a vending manager with weekly sales of $5k. I purchased a Diebold coin sorter about one week after taking over the vending machines. Ever roll $1500 in coins in a week?

As for accuracy, we would sort our coins into canvas bank bags that would hold $500 in quarters and the like. In two years, we never had the armored car service call us informing us that our counts were off. If you reset the totals at the beginning of the load, you have nothing to worry about.

I think that the branch manager is blowing smoke. Those machines are really low maintenance.

===========================

I knew one waitress who found a good way of getting rid of her coins fee-free. She would load them into a slot machine and immediately ash out. Then she would head to the cashier and get her money.
johnny847
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Re: Coin Counting Machines

Post by johnny847 »

I rarely use cash, since I want credit card rewards, and when I do, I carry around a coin wallet, so I actually spend my coins.

Also, I haven't seen them in grocery stores around here, but some grocery stores have self service checkout. I've seen people bring their jar of coins in and use self checkout. They spend like 10 minutes depositing all of their coins, but since there's multiple self service lines, it usually doesn't irritate too many people.
scrabbler1
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Re: Coin Counting Machines

Post by scrabbler1 »

johnny847 wrote:I rarely use cash, since I want credit card rewards, and when I do, I carry around a coin wallet, so I actually spend my coins.

Also, I haven't seen them in grocery stores around here, but some grocery stores have self service checkout. I've seen people bring their jar of coins in and use self checkout. They spend like 10 minutes depositing all of their coins, but since there's multiple self service lines, it usually doesn't irritate too many people.
I haven't seen this at my local supermarket. The few times I have used self-checkout as a means to get rid of my coins, I never deposited more than $3 worth, so it doesn't take more than minute for the machine to count them. Last week, I missed a good chance to get rid of those coins when I made a trip to Home Depot for a small purchase; I brought some but not all of my small coins so I still have some laying around. At my local supermarket they have 4 self-checkout registers and most of the time at least one is available anyway.
sls239
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Re: Coin Counting Machines

Post by sls239 »

Try a 7 year old.
fareastwarriors
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Re: Coin Counting Machines

Post by fareastwarriors »

I count the coins myself and put them into the paper slots thing provided by the bank. About one a year, I would bring my coins (like 20 lbs worth) to deposit. I find it calming and almost therapeutic to coin and roll the coins myself.
dolphinsaremammals
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Re: Coin Counting Machines

Post by dolphinsaremammals »

kazper wrote:
Luke Duke wrote:
I guess that my 5gal water jug will be worth $2K+ when I fill it up. (I started filling it in 2000.) Actually, it should be worth more since I don't put pennies in it. After I caught my wife getting some coins out of it I jammed a golf ball in there. Now when it's tipped over the golf ball plugs the opening and makes it difficult to get coins out. :mrgreen:
Lol, that is awesome. How do you plan on getting the golfball out when it is full?
More to the point, why is this happening? :D and is the floor reinforced? There would seem to be simple ways to get around that golf ball - tip the thing on its side and hold the golf ball out of the way with a pencil, reach in through the opening with a tweezers when the thing is upright, etc. Just knowing about the golf ball would immediately make me want to think up ways past it.
meaghansketch
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Re: Coin Counting Machines

Post by meaghansketch »

No one else needs their quarters for the laundromat? Just me then? :(

Other coins went to TD Bank when their counting machines were for everyone. Now that they're for account-holders only it's the Coinstar machine for Amazon credit.
jlawrence01
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Re: Coin Counting Machines

Post by jlawrence01 »

meaghansketch wrote:No one else needs their quarters for the laundromat? Just me then? :(

Other coins went to TD Bank when their counting machines were for everyone. Now that they're for account-holders only it's the Coinstar machine for Amazon credit.

It has been a few years since I have seen a Laundromat accept coins. Most of them are now using stored value cards.
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Clearly_Irrational
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Re: Coin Counting Machines

Post by Clearly_Irrational »

I use Coinstar, but if you take out the quarters and do those by hand the counting "fee" is trivial. *shrug* I don't need to do this often any more since I use my debit card for nearly everything.
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dm200
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Re: Coin Counting Machines

Post by dm200 »

jlawrence01 wrote:
meaghansketch wrote:No one else needs their quarters for the laundromat? Just me then? :(

Other coins went to TD Bank when their counting machines were for everyone. Now that they're for account-holders only it's the Coinstar machine for Amazon credit.

It has been a few years since I have seen a Laundromat accept coins. Most of them are now using stored value cards.
From time to time, my wife uses a Laundromat - and they take quarters.
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StevieG72
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Re: Coin Counting Machines

Post by StevieG72 »

I had a break in at my home and change was stolen, along with electronics jewelery etc. My insurance company only covers $200.00 of cash / coin. I gathered up all of my remaining change and took it Bayport Credit Union, they have a coin machine.

I do not accumulate much change anymore as I use plastic for everything.
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westcoast
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Re: Coin Counting Machines

Post by westcoast »

My bank ( Wells Fargo) has one, you give your bag of coins to the teller who puts them through the machine as you watch. Either take the cash or have it deposited into your account. We take the cash and give it to our grandkids.
scrabbler1
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Re: Coin Counting Machines

Post by scrabbler1 »

meaghansketch wrote:No one else needs their quarters for the laundromat? Just me then? :(

Other coins went to TD Bank when their counting machines were for everyone. Now that they're for account-holders only it's the Coinstar machine for Amazon credit.
I make sure to keep any quarters I get as change and put the rest into self-checkout machines. I have some friends who save their quarters for me, too. I stopped using the laundry machines in my building 7 years ago after they switched from quarters to prepaid card because the machines kept failing to start but still took the amount off the card. I always got my money back after calling the vendor but was a PITA. I also complained to my co-op board and managing agent but they won't change anything. So I go elsewhere where I can use those quarters I save up.
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Zabar
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Re: Coin Counting Machines

Post by Zabar »

Until about two years ago, I would put my collected spare change into rolls and bring them to my credit union (NWFCU). Then they installed coin counters and stopped accepting the rolls. But what's strange is the procedure. I enter my account number into the machine and then dump in the coins. It confirms the account (which means that it has access to the database), counts the coins and gives me a total. I then have to take the printed receipt, wait in line and present it to a teller to confirm the deposit. That makes no sense!
mnvalue
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Re: Coin Counting Machines

Post by mnvalue »

lightheir wrote:Yes, my Wells Fargo stopped accepted loose change last year, unfortunately.
Seriously??? Depositing/withdrawing coins and withdrawing specific denominations of currency are literally the only reasons for a regular person to set foot in a bank branch these days. (And Medallion signature guarantees, I suppose.)
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