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
RudyS
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Re: What do you do with your coins?

Post by RudyS » Fri Apr 14, 2017 8:52 pm

Our credit union has a counting machine, no charge to members, you get a slip that you deposit to your account.

Also - keep your eyes open at fast food counters and the like. Often find collection containers for charities like Ronald McDonald house, etc. Also the tip jars at Starbucks, etc.

Lacrocious
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Re: What do you do with your coins?

Post by Lacrocious » Fri Apr 14, 2017 10:48 pm

Just took $430 in coin to my bank. Walked out with a deposit to my checking account. I don't know, but I guess I think that Money is a function of banks - so they should take my money and deposit it. It took about 2 minutes to count the coins, and that was only because they had to change a bag it dumps the coins into. Find another bank.
- L

NYC_Guy
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Location: New York

Re: What do you do with your coins?

Post by NYC_Guy » Fri Apr 14, 2017 11:17 pm

Lacrocious wrote:Just took $430 in coin to my bank. Walked out with a deposit to my checking account. I don't know, but I guess I think that Money is a function of banks - so they should take my money and deposit it. It took about 2 minutes to count the coins, and that was only because they had to change a bag it dumps the coins into. Find another bank.
- L
I estimate that it would take me 72 years to generate $430 of excess change. I don't know how this is possible in the 21st century...

FedGuy
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Re: What do you do with your coins?

Post by FedGuy » Sat Apr 15, 2017 7:50 am

My cash purchases are generally limited to small transactions like the bagel place near work, the vending machine at the office, and the occasional coffee. All my coins go into a small fake leather wallet-like thing attached to my keychain that holds my transit card and work ID but also has a small compartment for coins. That way, my coins are always accessible. I try to spend them whenever I reasonably can at one of the places I pay in cash. The vending machine accepts nickles, dimes, and quarters, but not pennies. My bagel place seems grateful for the pennies because most customers there pay in cash and many customers are due a couple of pennies in change.

On rare occasions, if I'm accumulating a lot of coins that I haven't been able to spend down for some reason, I'll dump them in a tip jar.

davebo
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Re: What do you do with your coins?

Post by davebo » Sat Apr 15, 2017 8:03 am

I give my coins to my kids. Our local bank still counts coins for customers. They actually even do it one better and have the machine out in the lobby so the kids can dump the coins in themselves and take the ticket to the teller.

obgraham
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Re: What do you do with your coins?

Post by obgraham » Sat Apr 15, 2017 8:07 am

I'm with the others here. My coins go in a spiffy wooden box. When it is full I go the grocery or Walmart and drop them in for an Amazon card. That I use for Kindle reading.

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F150HD
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Re: What do you do with your coins?

Post by F150HD » Sat Apr 15, 2017 8:56 am

flamesabers wrote:
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.
Thought I read Vanguard gives a $50 bonus if you make your annual Roth contribution using only pennies.
Long is the way and hard, that out of Hell leads up to light.

RudyS
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Re: What do you do with your coins?

Post by RudyS » Sat Apr 15, 2017 8:59 am

F150HD wrote:
flamesabers wrote:
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.
Thought I read Vanguard gives a $50 bonus if you make your annual Roth contribution using only pennies.
Aren't you 14 days late with this post? :P

Tamales
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Re: What do you do with your coins?

Post by Tamales » Sat Apr 15, 2017 10:41 am

bluebolt wrote:You can do this with your coins:

https://www.youtube.com/watch?v=GdKM4FvGGPY
Good thing they covered it all with clear epoxy, because the smell of all those pennies tarnishing would have been awful.

SavageBrother
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Re: What do you do with your coins?

Post by SavageBrother » Sat Apr 15, 2017 10:57 am

I save all my coins for a whole year and then deposit it in my bank account. Saved about €250,- last year (could've been more, but sometimes I need a couple of coins in a hurry). As I started used less cash money my can of coins only amounts up to €60,- or something.

Teague
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Re: What do you do with your coins?

Post by Teague » Sat Apr 15, 2017 10:59 am

Pennies may be nearly worthless, but they are far from useless.

When installing a new toilet, they make great shims to level the fixture. Both the older copper ones and the newer zinc ones resist corrosion well, and of course they are durable. (I got this tip from a plumber.)

I installed a few dry-wells ( large drainage holes) for water runoff in a lawn, filled with coarse gravel. These were covered with porous landscape cloth, then dirt, and I planted grass on top. I wanted to be able to locate these holes should the need arise, so I threw a handful of pennies on top of the landscape cloth and they are easily found with a metal detector.

They can be used to demonstrate that zinc will readily melt in a hot wood fire, while copper will not.

The older copper pennies can be used in electroplating experiments.

The copper pennies can be used to make a battery out of a lemon, using a piece of zinc as the other terminal. In fact, you could use a de-plated newer penny and an older copper penny as your two terminals.
Semper Augustus

Lacrocious
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Location: Wisconsin

Re: What do you do with your coins?

Post by Lacrocious » Sat Apr 15, 2017 11:08 am

NYC_Guy wrote: I estimate that it would take me 72 years to generate $430 of excess change. I don't know how this is possible in the 21st century...
I know :D - larger than our ~$30 / year that we normally do. Back with the state quarters first came out, the kids were collecting them. We ended up saving every quarter we came across. Since the "kids" are now 22 & 19 = they don't have much interest in saving state quarters. We finally just cashed in that bucket of extra quarters and will put it towards our next vacation.
- L

Luckywon
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Re: What do you do with your coins?

Post by Luckywon » Sat Apr 15, 2017 12:27 pm

I keep all my coins in a big jar. When it get full I take them to the supermarket and dump them in a coinstar machine. You can get around any redemption fee by choosing an amazon gift certificate as the redemption option. It's super easy to enter the code into your amazon account and presto-the money is seen as a credit which you can use at any time for an amazon purchase!

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Earl Lemongrab
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Re: What do you do with your coins?

Post by Earl Lemongrab » Sat Apr 15, 2017 1:32 pm

I keep mine in my pocket. I don't use cash often as almost everything that I buy goes on credit cards. When I do use cash, I pay attention to whether I could pay the fractional amount with the change I have. I also use a bit each day at work buying tea bags from the snack operation. I also need to make sure I have a "solid quarter" for the Aldi shopping cart.

tim1999
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Re: What do you do with your coins?

Post by tim1999 » Sat Apr 15, 2017 2:34 pm

I try to pay with plastic to avoid change. Nothing worse than trying to pay cash and the bill comes to $9.01.

I put my change into a small box at home. When it is full, I take it to my bank and have them deposit it into my checking account. It's usually once per year and comes out to around $50-70.

maroon
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Re: What do you do with your coins?

Post by maroon » Sat Apr 15, 2017 2:47 pm

Apologies if someone posted this earlier and I missed it, but here's a relevant blog/article about which banks have coin counters and which do not:
https://www.mybanktracker.com/news/coin ... -find-them

Boo to Chase! I was shocked to find out the branch I visited recently has no change counter. After all, it's a bank! Chase is in a race to the bottom, getting rid of tellers in favor of lobby ATMs, and now coin counters.

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Earl Lemongrab
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Re: What do you do with your coins?

Post by Earl Lemongrab » Sat Apr 15, 2017 2:51 pm

tim1999 wrote:I try to pay with plastic to avoid change. Nothing worse than trying to pay cash and the bill comes to $9.01.
If you kept some change, that wouldn't be a problem.

RoadHouseFan
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Re: What do you do with your coins?

Post by RoadHouseFan » Sat Apr 15, 2017 3:16 pm

Use them to play Ms. Pacman, The Claw and jukebox at Pizza Hut. Also, use them to make purchases at Target - always cash only at Target.

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TeamArgo
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Re: What do you do with your coins?

Post by TeamArgo » Sat Apr 15, 2017 3:52 pm

DaftInvestor wrote:
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.
Actually, they remember me at both locations and they treat me well. I will admit that by the time I remember to take my pile of change, I am usually leaving a fair bit more than I might be tempted to leave in whole bills.
"Love with your heart, use your head for everything else" -Captain Disillusion

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lthenderson
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Re: What do you do with your coins?

Post by lthenderson » Sat Apr 15, 2017 4:29 pm

jabberwockOG wrote:
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.
Something I didn't know. Since he sorts them, perhaps he knows this. I'll have to ask the next time I stop by.

ztn
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Re: What do you do with your coins?

Post by ztn » Sat Apr 15, 2017 5:45 pm

I still use cash for all grocery and everyday purchases. Any change in my pocket is used to prevent more change - if the total is $9.68 and I have 13 cents, I give the cashier $10.03. Extremely simple technique and when done correctly I will never have more than one dollar in change in my pocket.

gd
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Re: What do you do with your coins?

Post by gd » Sat Apr 15, 2017 7:05 pm

I use them. I use a wallet with a coin pocket, which makes it very easy to use coins and keeps them from accumulating. If you don't have enough for exact change, you will soon, and they'll then be used up promptly.

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Alexa9
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Re: What do you do with your coins?

Post by Alexa9 » Sat Apr 15, 2017 7:31 pm

Haven't carried cash or coins in years. I've only gotten caught once at an event that only took cash and then drinks were all on my cash friends :D Credit is so much more secure. I don't worry much about getting mugged anymore. I used to go to Coinstar and get an Amazon Gift Card. I heard that the copper in a penny is worth more than a penny if you melt it down, but that's supposedly not legal.

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burgrat
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Re: What do you do with your coins?

Post by burgrat » Sat Apr 15, 2017 7:46 pm

I put my daily change in a container. When it gets close to full, I take it to the local Coinstar and cash the coins in for an Amazon gift card. There is no charge for this, otherwise I would take it to a bank or a local casino (I'm in Nevada) and cash it in. The amount is usually around $60 to $80 and I use it to buy something fun or whatever. It's kind of like "found money".

magazinewriter
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Re: What do you do with your coins?

Post by magazinewriter » Sun Apr 16, 2017 8:31 am

I'm very old school. I always roll my coins and take them to the bank. The bank still gives out free coin wrappers if you ask. When I'm rolling my pennies, I always look for wheat pennies and hold those out. I know they aren't worth anything but I save them anyway. I also have one Indian head penny that I got in change at - amazingly - McCarran Airport in Las Vegas.

I do keep a container of quarters in the car for parking meters.

I always pick up coins on the ground.

magazinewriter
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Re: What do you do with your coins?

Post by magazinewriter » Sun Apr 16, 2017 8:38 am

RoadHouseFan wrote:Use them to play Ms. Pacman, The Claw and jukebox at Pizza Hut. Also, use them to make purchases at Target - always cash only at Target.
Why do you pay cash at Target? If you get a Red card you'll get a 5% discount.

Do most Pizza Huts still have Ms. Pacman? I have good memories of playing that game years ago.

likegarden
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Re: What do you do with your coins?

Post by likegarden » Sun Apr 16, 2017 9:05 am

I have a double sandwich bag of coins inside a car door pocket and use them when paying for food at MacDonalds. What's the problem?

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