What do you do with your coins?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Topic Author
PandaBear
Posts: 262
Joined: Sat Mar 19, 2016 2:31 pm

What do you do with your coins?

Post by PandaBear » Fri Apr 14, 2017 12:59 pm

Recently I had a discussion with my wife about my piggy banks--I have 3. 1 is Toothless from How to Train your Dragon and is full of coins and a few dollar bills. 2 is a box with a pad and if you push the pad with a coin a panda bear comes out and scoops the coin into the box. 3 is a steel box completely full of coins that are no longer in circulation because the currency doesn't exist anymore (i.e. - Italian lira, Spanish peseta, etc.).

She says I should turn it all into real money. Personally, I like having coins. I don't use them, but for some reason I find it comforting knowing I have roughly $100 in my house. Then she was saying that I should at least spend the dollar denomination coins. She explained that for example, her dad whenever he goes to the drive through will start counting pennies as he's waiting and pay with that. I thought that was an amusing way to get rid of coins. Do you have any amusing ways to spend coins?

User avatar
knpstr
Posts: 2395
Joined: Thu Nov 20, 2014 8:57 pm
Location: Michigan

Re: What do you do with your coins?

Post by knpstr » Fri Apr 14, 2017 1:07 pm

I turn most all of my coins into electronic money by depositing them in the bank.

I always have a few in my car to pay with exact change on some drive-thru occasions.
I do keep some small amount of money in the house, but usually in the form of $20s not coins.

:beer
Very little is needed to make a happy life; it is all within yourself, in your way of thinking. -Marcus Aurelius

Nearly A Moose
Posts: 1015
Joined: Fri Apr 22, 2016 5:28 pm

Re: What do you do with your coins?

Post by Nearly A Moose » Fri Apr 14, 2017 1:19 pm

I keep a roll of quarters in the car. I've been known to just throw away the odd penny I find lying around. The rest of the change goes to my daughter, who gets to put it in her piggy bank. She's 2.
Pardon typos, I'm probably using my fat thumbs on a tiny phone.

michaeljc70
Posts: 5782
Joined: Thu Oct 15, 2015 3:53 pm

Re: What do you do with your coins?

Post by michaeljc70 » Fri Apr 14, 2017 1:22 pm

My bank (Chase) recently stopped counting coins (at least for non-business customers). I save them until I get around $100-$200 worth and take them to Jewel (Safeway). They have a coin counter at the front of the store. If you get the proceeds in gift cards, there is no charge. They have Amazon, Safeway, Walgreens, Starbucks and a lot of other gift cards that can be easily used. If you don't get the gift cards, I think they charge 10%.

User avatar
flamesabers
Posts: 1803
Joined: Fri Mar 03, 2017 12:05 pm
Location: Rochester, MN

Re: What do you do with your coins?

Post by flamesabers » Fri Apr 14, 2017 1:27 pm

PandaBear wrote:Do you have any amusing ways to spend coins?
The only coins I spend are quarters for laundry machines. I pay practically all my purchases with a credit card so I don't have spare change anymore. Occasionally I find a penny or nickel on the ground. When I have a larger deposit to make, I include the coins with my deposit.

Earlier this year there was a story of a man who paid his DMV bill in pennies. He used five wheelbarrows to transport nearly 300,000 pennies to the DMV office to pay sales tax on two SUVs he purchased earlier. The weight of all the pennies was 1,600 pounds.

DaftInvestor
Posts: 4782
Joined: Wed Feb 19, 2014 10:11 am

Re: What do you do with your coins?

Post by DaftInvestor » Fri Apr 14, 2017 1:31 pm

It might be more money than you realize. Back when we used to spend cash we would just bring our bucket of coins to our local bank. They had a free-use coin-counting machine for customers. You pour your coins in - it prints you out a receipt for deposit into your accounts. We would usually have a few hundred dollars when our bucket was close to full.
They still have the machine but now that we very rarely use cash the coins don't pile up the way they used to.

Capsu78
Posts: 272
Joined: Wed May 18, 2016 10:30 am

Re: What do you do with your coins?

Post by Capsu78 » Fri Apr 14, 2017 1:34 pm

All change to piggy bank near our car keys. When its full, it's off to the bank and gets deposited in our vacation account. Every time I bend over to pick up that stray penny a previous poster pitched out in the parking lot, I think about how one day that coin will be part of a payment for a nice glass of wine in Italy!

Loik098
Posts: 651
Joined: Mon May 30, 2016 9:29 pm

Re: What do you do with your coins?

Post by Loik098 » Fri Apr 14, 2017 1:38 pm

I use both a piggy bank and a small cash box, both kept in the kitchen as we first walk in so that pockets can be dumped. The piggy bank takes the coins; any cash I've accumulated (I get paid cash for mileage for work) is kept in one of the kitchen drawers in the cash box. Of the two, the cash box is more useful if we just want some extra money at the house "just in case." We keep lots of $1 and $5 bills in it.

We wait until we have a couple hundred bucks worth of coins, then take them into the Coinstar. My time is worth something, so I'd rather pay the machine the fee to count it than wrap up coins myself and take them to the bank, or figure out the 7-step procedure for getting my bank to take them. I'm sure that will put some diehard BH's nose out of joint, but meh.

User avatar
Doom&Gloom
Posts: 3021
Joined: Thu May 08, 2014 3:36 pm

Re: What do you do with your coins?

Post by Doom&Gloom » Fri Apr 14, 2017 1:41 pm

A couple of years ago I emptied my pockets of coins and left them on the dresser. They are still there, and I haven't added to their number as I haven't received any coins since then.

Extremely liberating! And even simplifying--for those who believe that simplification is a worthy goal 8-)

jebmke
Posts: 9832
Joined: Thu Apr 05, 2007 2:44 pm

Re: What do you do with your coins?

Post by jebmke » Fri Apr 14, 2017 1:45 pm

I rarely use currency. Normally it would be for a small tab at a bar or something and I round up and leave whole dollars. My local indie coffee shop just keeps an urn of coffee and a giant glass jar for honor system purchases - forces all the latte drinkers to stand in line. Can't think of anywhere else I'd need currency.
When you discover that you are riding a dead horse, the best strategy is to dismount.

TSR
Posts: 818
Joined: Thu Apr 19, 2012 9:08 am

Re: What do you do with your coins?

Post by TSR » Fri Apr 14, 2017 1:46 pm

I keep mine in an old tea can I have. When it's full, I either roll them if I'm feeling ambitious or take them to the Coin Star machine if I'm feeling lazy. A full can is worth about $70. Sometimes I dip into the can if I have a special coin need.

User avatar
Tamarind
Posts: 1781
Joined: Mon Nov 02, 2015 2:38 pm

Re: What do you do with your coins?

Post by Tamarind » Fri Apr 14, 2017 1:49 pm

I keep a few small international coins as keepsakes from travel. I'm fond of pre-euro national currencies, but no targeted collection. GF enjoys collecting circulated US coins so she goes through all the loose change in case there's a state quarter she hasn't got yet, old dimes and pennies, etc. The rest gets rolled and exchanged at the bank for an equal amount of new coins to search through after a particularly stressful week.

When we accumulate enough loose change I just use CoinStar to turn it into gift cards, but this is rare as neither of us uses much cash. I think I spend maybe $100 per year in cash, mostly at local taco trucks.

powerplay
Posts: 3
Joined: Thu Apr 13, 2017 8:22 am
Location: Michigan

Re: What do you do with your coins?

Post by powerplay » Fri Apr 14, 2017 1:52 pm

I put all lose change and extra pocket money in a savings account at a local bank. Purpose is to purchase local bank stock with extra, extra savings.

User avatar
dm200
Posts: 22280
Joined: Mon Feb 26, 2007 2:21 pm
Location: Washington DC area

Re: What do you do with your coins?

Post by dm200 » Fri Apr 14, 2017 1:55 pm

I keep coins in my pocket when I get change. Then, when I have more than a dollar or two in coins, I just use the coins for the amount I pay in cash over the $1 level. If, for some reason, I end up with more coins, I use them at the self checkout at the grocery store where you can put lots of coins in paying for groceries.

bluebolt
Posts: 988
Joined: Sat Jan 14, 2017 9:01 am

Re: What do you do with your coins?

Post by bluebolt » Fri Apr 14, 2017 1:56 pm

You can do this with your coins:

https://www.youtube.com/watch?v=GdKM4FvGGPY

User avatar
dm200
Posts: 22280
Joined: Mon Feb 26, 2007 2:21 pm
Location: Washington DC area

Re: What do you do with your coins?

Post by dm200 » Fri Apr 14, 2017 1:56 pm

TSR wrote:I keep mine in an old tea can I have. When it's full, I either roll them if I'm feeling ambitious or take them to the Coin Star machine if I'm feeling lazy. A full can is worth about $70. Sometimes I dip into the can if I have a special coin need.
Do you pay a fee to take the coins? Or do you get full value on a card?

It is beyond my understanding why anyone would pay a fee (like 8%) to convert coins.

Mako
Posts: 176
Joined: Wed Feb 28, 2007 9:34 am

Re: What do you do with your coins?

Post by Mako » Fri Apr 14, 2017 1:57 pm

Coinstar. It's free if you get a gift card. I shop at Amazon enough that it's a no brainer.

User avatar
dm200
Posts: 22280
Joined: Mon Feb 26, 2007 2:21 pm
Location: Washington DC area

Re: What do you do with your coins?

Post by dm200 » Fri Apr 14, 2017 2:05 pm

Mako wrote:Coinstar. It's free if you get a gift card. I shop at Amazon enough that it's a no brainer.
In the rare occasions with a lot of coins, I can get a full value grocery store gift cars for coins. I shop there anyway.

TSR
Posts: 818
Joined: Thu Apr 19, 2012 9:08 am

Re: What do you do with your coins?

Post by TSR » Fri Apr 14, 2017 2:08 pm

dm200 wrote:
TSR wrote:I keep mine in an old tea can I have. When it's full, I either roll them if I'm feeling ambitious or take them to the Coin Star machine if I'm feeling lazy. A full can is worth about $70. Sometimes I dip into the can if I have a special coin need.
Do you pay a fee to take the coins? Or do you get full value on a card?

It is beyond my understanding why anyone would pay a fee (like 8%) to convert coins.
Again, a pure laziness thing. I agree with you, which is why I tend to roll them myself, but when I'm at the CoinStar machine, I seldom want the dang gift cards. You have effectively shamed me into going for a Kroger card instead.

squirm
Posts: 1936
Joined: Sat Mar 19, 2011 11:53 am

Re: What do you do with your coins?

Post by squirm » Fri Apr 14, 2017 2:14 pm

I think you're over thinking this, just take them to the grocery store and turn it into bills with the coin machine.

User avatar
dm200
Posts: 22280
Joined: Mon Feb 26, 2007 2:21 pm
Location: Washington DC area

Re: What do you do with your coins?

Post by dm200 » Fri Apr 14, 2017 2:25 pm

TSR wrote:
dm200 wrote:
TSR wrote:I keep mine in an old tea can I have. When it's full, I either roll them if I'm feeling ambitious or take them to the Coin Star machine if I'm feeling lazy. A full can is worth about $70. Sometimes I dip into the can if I have a special coin need.
Do you pay a fee to take the coins? Or do you get full value on a card?
It is beyond my understanding why anyone would pay a fee (like 8%) to convert coins.
Again, a pure laziness thing. I agree with you, which is why I tend to roll them myself, but when I'm at the CoinStar machine, I seldom want the dang gift cards. You have effectively shamed me into going for a Kroger card instead.
Why not just spend them as you get them?? Zero hassle and zero cost?

sport
Posts: 8533
Joined: Tue Feb 27, 2007 3:26 pm
Location: Cleveland, OH

Re: What do you do with your coins?

Post by sport » Fri Apr 14, 2017 2:31 pm

I just spend them when I make small cash purchases.

TSR
Posts: 818
Joined: Thu Apr 19, 2012 9:08 am

Re: What do you do with your coins?

Post by TSR » Fri Apr 14, 2017 2:34 pm

dm200 wrote:
TSR wrote:
dm200 wrote:
TSR wrote:I keep mine in an old tea can I have. When it's full, I either roll them if I'm feeling ambitious or take them to the Coin Star machine if I'm feeling lazy. A full can is worth about $70. Sometimes I dip into the can if I have a special coin need.
Do you pay a fee to take the coins? Or do you get full value on a card?
It is beyond my understanding why anyone would pay a fee (like 8%) to convert coins.
Again, a pure laziness thing. I agree with you, which is why I tend to roll them myself, but when I'm at the CoinStar machine, I seldom want the dang gift cards. You have effectively shamed me into going for a Kroger card instead.
Why not just spend them as you get them?? Zero hassle and zero cost?
No no, I'm with you. As a single person, I rarely need $70 in groceries at any given time, so it's something I have to keep track of, make sure I spend down, etc. It's really not a big deal, and it's way better than losing 10%, but sometimes, if you're being lazy, cash in hand feels worth the $7 or so you lose. I agree with you that it's not ACTUALLY worth it.

Dottie57
Posts: 7119
Joined: Thu May 19, 2016 5:43 pm
Location: Earth Northern Hemisphere

Re: What do you do with your coins?

Post by Dottie57 » Fri Apr 14, 2017 2:38 pm

I use cash quite a bit. I Collect the coins and then put them into a savings account. No charge if deposited.

User avatar
SquawkIdent
Posts: 525
Joined: Tue Dec 23, 2008 7:14 pm
Location: Planet Earth

Re: What do you do with your coins?

Post by SquawkIdent » Fri Apr 14, 2017 2:41 pm

What are coins? Only kidding but I don't see them much anymore as everything is done electronically. When I do have some I either have to wrap them and deposit them or turn into real money at the bank as they do not accept lose change anymore. Or I deposit them at a Coinstar location for a Amazon gift card with no fees taken out. :sharebeer

Hockey10
Posts: 613
Joined: Wed Aug 24, 2016 12:20 pm
Location: Philadelphia suburbs

Re: What do you do with your coins?

Post by Hockey10 » Fri Apr 14, 2017 3:20 pm

Pay for everything with a credit card and pay the credit card bill in full each month. Hence, no more coins, plus you accrue more rewards points and have the ability to track your spending via your credit card transactions.

Grt2bOutdoors
Posts: 21460
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: What do you do with your coins?

Post by Grt2bOutdoors » Fri Apr 14, 2017 3:21 pm

Spend them. :mrgreen:
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

User avatar
dm200
Posts: 22280
Joined: Mon Feb 26, 2007 2:21 pm
Location: Washington DC area

Re: What do you do with your coins?

Post by dm200 » Fri Apr 14, 2017 3:27 pm

Hockey10 wrote:Pay for everything with a credit card and pay the credit card bill in full each month. Hence, no more coins, plus you accrue more rewards points and have the ability to track your spending via your credit card transactions.
There are places where you must still pay cash.

Loik098
Posts: 651
Joined: Mon May 30, 2016 9:29 pm

Re: What do you do with your coins?

Post by Loik098 » Fri Apr 14, 2017 3:32 pm

Loik098 wrote:My time is worth something, so I'd rather pay the machine the fee to count it than wrap up coins myself and take them to the bank, or figure out the 7-step procedure for getting my bank to take them. I'm sure that will put some diehard BH's nose out of joint, but meh.
dm200 wrote: It is beyond my understanding why anyone would pay a fee (like 8%) to convert coins.
Lol. That didn't take long.

maroon
Posts: 351
Joined: Tue Sep 08, 2009 11:59 pm

Re: What do you do with your coins?

Post by maroon » Fri Apr 14, 2017 3:32 pm

I put them in a bucket, then eventually take them to the bank. However, I may need to revise this plan! The last time I went to Chase Bank, I was told the branch no longer has a change counting machine and I should go to the grocery store. Such great service from the bank.

Traveller
Posts: 722
Joined: Sat Jun 25, 2011 10:47 am

Re: What do you do with your coins?

Post by Traveller » Fri Apr 14, 2017 3:38 pm

A quart sized mason jar sits in my closet and I dump all pocket change into it until full. The it's off to the coin star kiosk for a no-fee Amazon card which gets easily spent.

By the way, a quart sized mason jar filled to the top of random pocket coinage is almost always $100 +/- a few dollars.

NYC_Guy
Posts: 304
Joined: Fri Mar 10, 2017 2:23 pm
Location: New York

Re: What do you do with your coins?

Post by NYC_Guy » Fri Apr 14, 2017 3:40 pm

Loik098 wrote:
Loik098 wrote:My time is worth something, so I'd rather pay the machine the fee to count it than wrap up coins myself and take them to the bank, or figure out the 7-step procedure for getting my bank to take them. I'm sure that will put some diehard BH's nose out of joint, but meh.
dm200 wrote: It is beyond my understanding why anyone would pay a fee (like 8%) to convert coins.
Lol. That didn't take long.
Pennies usually go in the trash. Quarters are in my car for the occasional (but disappearing) parking meters. I keep dimes and nickels in a pot in the kitchen, but they may end up in the trash, too. I use actual cash maybe once a month now, give or take. So I'm generating change maybe a dozen times a year. So my penny wasting costs me, maybe, 30 cents a year. I absolutely spend more in euro on vacations using hard money than I do in the US in my day-to-day life. I keep those coins. :beer

Rainmaker41
Posts: 499
Joined: Tue Apr 26, 2016 11:34 am

Re: What do you do with your coins?

Post by Rainmaker41 » Fri Apr 14, 2017 3:41 pm

What cost $.01 in 1950 would cost $0.10 in 2016.

http://www.westegg.com/inflation/

Because of inflation, pennies are monetarily pointless. 1950 didn't have 1/10th of a cent coins, so why do we need coins with that value now?

:confused :moneybag :P

To actually answer the question, I do almost all of my spending on a credit card. When I do get coins, I put them in a small bowl. Every once in a while I'll use some coins to pay exact change for something. I took them to the credit union once, but that was a hassle.

User avatar
TeamArgo
Posts: 129
Joined: Fri Jul 22, 2016 8:18 am

Re: What do you do with your coins?

Post by TeamArgo » Fri Apr 14, 2017 3:45 pm

Mine go into a bowl near the door, whenever I return home. After a few dollars accumulate, I leave them for the tip at one of two local restaurants that do not accept credit cards.
"Love with your heart, use your head for everything else" -Captain Disillusion

User avatar
fishandgolf
Posts: 512
Joined: Fri Nov 25, 2016 2:50 pm

Re: What do you do with your coins?

Post by fishandgolf » Fri Apr 14, 2017 3:48 pm

Years ago when I use to travel through Chicago on business, the toll booth fee was $0.40 at each booth. I had to go through 3 or 4 of them (one-way) to get to my destination. Someone once told me.... rather than toss in a quater, dime and a nickel, try throwing in 29 pennies. They said the counters were not that accurate and the machine would accept the 29 pennies. He was correct....however.... I soon got tired of packing 200+ pennies every time I left on a business trip.

I have a 1/2 gallon size container now that I throw all my pennies in. Before I take them to the bank, I go through each one in search of those few....but rare pennies. :moneybag

http://bottomlineinc.com/life/money-sav ... our-pocket

User avatar
flamesabers
Posts: 1803
Joined: Fri Mar 03, 2017 12:05 pm
Location: Rochester, MN

Re: What do you do with your coins?

Post by flamesabers » Fri Apr 14, 2017 3:57 pm

Rainmaker41 wrote:What cost $.01 in 1950 would cost $0.10 in 2016.

http://www.westegg.com/inflation/

Because of inflation, pennies are monetarily pointless. 1950 didn't have 1/10th of a cent coins, so why do we need coins with that value now?

:confused :moneybag :P
The smallest U.S. denomination ever minted was the 1/2 cent coin and that was from 1792 to 1857. Perhaps the coin history buffs can share how we got rid of the 1/2 cent coin?

Loik098
Posts: 651
Joined: Mon May 30, 2016 9:29 pm

Re: What do you do with your coins?

Post by Loik098 » Fri Apr 14, 2017 4:05 pm

TeamArgo wrote:Mine go into a bowl near the door, whenever I return home. After a few dollars accumulate, I leave them for the tip at one of two local restaurants that do not accept credit cards.
Nice! Good post.

User avatar
lthenderson
Posts: 4356
Joined: Tue Feb 21, 2012 12:43 pm
Location: Iowa

Re: What do you do with your coins?

Post by lthenderson » Fri Apr 14, 2017 4:08 pm

I have a bowl for collectible or unspendable change and one for American change. Since I mostly spend a credit card or in the rare case they don't take them, a check, the bowl is still only half full after 12 years of marriage when we got it. I'm not sure what I will do when it gets full but I expect to have another 12 years to figure that out.

On a side note, I have a friend who has over a dozen 50-gallon barrels full of pennies in a hedge that the government will eliminate the penny and he can sell the for scrap copper prices presumably more than 1 cent a penny. He pays vending machine companies for them. His wife, a SOH mom, sorts through them every day and sorts out the collectible stuff and tosses the rest into the barrels. I don't think even if his scheme comes true that the money would be worth the hassle or space but to each his own. He does have a top notch penny collection though.

User avatar
dm200
Posts: 22280
Joined: Mon Feb 26, 2007 2:21 pm
Location: Washington DC area

Re: What do you do with your coins?

Post by dm200 » Fri Apr 14, 2017 4:15 pm

fishandgolf wrote:Years ago when I use to travel through Chicago on business, the toll booth fee was $0.40 at each booth. I had to go through 3 or 4 of them (one-way) to get to my destination. Someone once told me.... rather than toss in a quater, dime and a nickel, try throwing in 29 pennies. They said the counters were not that accurate and the machine would accept the 29 pennies. He was correct....however.... I soon got tired of packing 200+ pennies every time I left on a business trip.

I have a 1/2 gallon size container now that I throw all my pennies in. Before I take them to the bank, I go through each one in search of those few....but rare pennies. :moneybag

http://bottomlineinc.com/life/money-sav ... our-pocket
I thought I have seen signs saying no pennies?

User avatar
dm200
Posts: 22280
Joined: Mon Feb 26, 2007 2:21 pm
Location: Washington DC area

Re: What do you do with your coins?

Post by dm200 » Fri Apr 14, 2017 4:19 pm

Rainmaker41 wrote:What cost $.01 in 1950 would cost $0.10 in 2016.
http://www.westegg.com/inflation/
Because of inflation, pennies are monetarily pointless. 1950 didn't have 1/10th of a cent coins, so why do we need coins with that value now? :confused :moneybag :P
To actually answer the question, I do almost all of my spending on a credit card. When I do get coins, I put them in a small bowl. Every once in a while I'll use some coins to pay exact change for something. I took them to the credit union once, but that was a hassle.
Exactly. The dime today is worth about what a penny was 40-50 years ago (in my memory). I do not recall anyone ever saying we needed to spend less than one cent on anything. So, I believe we would be fine rounding all purchases (cash or check or electronic) to the nearest 10 cents. Get rid of the penny, nickel and quarter. Get rid of the dollar and $2 bills. Have $1 and $2 coins and a small 50 cent piece.

Only fools (in my opinion) would spend more than a penny to make a penny and more than a nickel to make a nickel??

User avatar
flamesabers
Posts: 1803
Joined: Fri Mar 03, 2017 12:05 pm
Location: Rochester, MN

Re: What do you do with your coins?

Post by flamesabers » Fri Apr 14, 2017 4:32 pm

dm200 wrote:
Rainmaker41 wrote:What cost $.01 in 1950 would cost $0.10 in 2016.
http://www.westegg.com/inflation/
Because of inflation, pennies are monetarily pointless. 1950 didn't have 1/10th of a cent coins, so why do we need coins with that value now? :confused :moneybag :P
To actually answer the question, I do almost all of my spending on a credit card. When I do get coins, I put them in a small bowl. Every once in a while I'll use some coins to pay exact change for something. I took them to the credit union once, but that was a hassle.
Exactly. The dime today is worth about what a penny was 40-50 years ago (in my memory). I do not recall anyone ever saying we needed to spend less than one cent on anything. So, I believe we would be fine rounding all purchases (cash or check or electronic) to the nearest 10 cents. Get rid of the penny, nickel and quarter. Get rid of the dollar and $2 bills. Have $1 and $2 coins and a small 50 cent piece.

Only fools (in my opinion) would spend more than a penny to make a penny and more than a nickel to make a nickel??
Unlike other coins, I think the quarter still has a practical use (vending machines, laundry machines, etc.). Trying to refit machines of this type will probably take a lot of time and money. It reminds me of the transition from using magnetic stripes on debit/credit cards and using EMV chips instead. Too often when I go to the register to pay I see a note that says the chip reader isn't active.

Atilla
Posts: 1390
Joined: Tue Feb 09, 2010 7:44 pm

Re: What do you do with your coins?

Post by Atilla » Fri Apr 14, 2017 4:37 pm

All nickles get diverted to my cigar ash tray for use in the circa 1910 slot machine in the living room. :beer
Moderator Warning-Free Since 2017.

DaftInvestor
Posts: 4782
Joined: Wed Feb 19, 2014 10:11 am

Re: What do you do with your coins?

Post by DaftInvestor » Fri Apr 14, 2017 4:48 pm

TeamArgo wrote:Mine go into a bowl near the door, whenever I return home. After a few dollars accumulate, I leave them for the tip at one of two local restaurants that do not accept credit cards.
So you leave the person who is carrying the food out to you a big pile of inconvenient change for a tip? I'd be afraid that next time I return they'd remember me (I wouldn't be able to eat).
Personally - I avoid restaurants that don't take cards. People are talking about whether they should get rid of the penny or the nickel. Why have any coin and paper money in today's digital world.

User avatar
SpringMan
Posts: 5411
Joined: Wed Mar 21, 2007 11:32 am
Location: Michigan

Re: What do you do with your coins?

Post by SpringMan » Fri Apr 14, 2017 4:57 pm

I use a gallon sized antique bottle embossed Wegener & Sons Detroit Michigan. It has a removable cork so I can pour out change or drop change into it. Neck of bottle easily accepts quarters, probably nothing bigger.
Best Wishes, SpringMan

SheReadsHere719
Posts: 110
Joined: Fri Jan 06, 2017 7:28 pm

Re: What do you do with your coins?

Post by SheReadsHere719 » Fri Apr 14, 2017 5:12 pm

Quarters get used for laundry and placed in their own baggie next to the laundry soap. Dimes, nickels, and pennies get tossed in a novelty tin. Once full, they get taken to Coinstar and exchanged for an Amazon gift card (as Mako said, no fee).

Change in foreign currencies get mailed here: https://www.leftovercurrency.com/

Can’t imagine throwing them away!

User avatar
jabberwockOG
Posts: 1827
Joined: Thu May 28, 2015 7:23 am

Re: What do you do with your coins?

Post by jabberwockOG » Fri Apr 14, 2017 5:17 pm

lthenderson wrote:I have a bowl for collectible or unspendable change and one for American change. Since I mostly spend a credit card or in the rare case they don't take them, a check, the bowl is still only half full after 12 years of marriage when we got it. I'm not sure what I will do when it gets full but I expect to have another 12 years to figure that out.

On a side note, I have a friend who has over a dozen 50-gallon barrels full of pennies in a hedge that the government will eliminate the penny and he can sell the for scrap copper prices presumably more than 1 cent a penny. He pays vending machine companies for them. His wife, a SOH mom, sorts through them every day and sorts out the collectible stuff and tosses the rest into the barrels. I don't think even if his scheme comes true that the money would be worth the hassle or space but to each his own. He does have a top notch penny collection though.


I take all our change which we collect in a pottery vase when full to a grocery store change counting machine that produces no fee Amazon gift cards.

Unless your friend has vintage pennies from 1981 (which were 95% copper) or older, all recent pennies since 1982 are 97.5% zinc. Recent pennies are essentially worthless, actually worth .01 cent. Older 95% copper pennies are worth approx 2.4 cents each based on current copper market value so for example $100 dollars worth of pre-1982 pennies are worth $240 dollars. Old real copper pennies may be a decent inflation hedge going forward.

User avatar
StevieG72
Posts: 973
Joined: Wed Feb 05, 2014 9:00 pm

Re: What do you do with your coins?

Post by StevieG72 » Fri Apr 14, 2017 5:21 pm

I take mine to my bank which has a free (for members) counter that makes quick business of the coins.

My house was broken in to a few years ago, jars of coins are one thing stolen.

Rarely use cash anymore so much less change to deal with.
Fools think their own way is right, but the wise listen to others.

sport
Posts: 8533
Joined: Tue Feb 27, 2007 3:26 pm
Location: Cleveland, OH

Re: What do you do with your coins?

Post by sport » Fri Apr 14, 2017 6:13 pm

lthenderson wrote:On a side note, I have a friend who has over a dozen 50-gallon barrels full of pennies in a hedge that the government will eliminate the penny and he can sell the for scrap copper prices presumably more than 1 cent a penny.
For the last 35 years, or so, US pennies have been made of zinc, a much less expensive metal. The copper color comes from a very thin plating which contains very little copper.

sport
Posts: 8533
Joined: Tue Feb 27, 2007 3:26 pm
Location: Cleveland, OH

Re: What do you do with your coins?

Post by sport » Fri Apr 14, 2017 6:16 pm

Rainmaker41 wrote:Because of inflation, pennies are monetarily pointless. 1950 didn't have 1/10th of a cent coins, so why do we need coins with that value now?
The minting of pennies is controlled by Congress. The reasons are political, so cannot be discussed here.

gkaplan
Posts: 7034
Joined: Sat Mar 03, 2007 8:34 pm
Location: Portland, Oregon

Re: What do you do with your coins?

Post by gkaplan » Fri Apr 14, 2017 7:49 pm

I generally carry coins to give to the homeless.
Gordon

Post Reply