What do you do with lots of coins?

fuzzybuddy

fuzzybuddy

SF VIP
Location
The Sticks, Northeast PA.
I have about $800+ in coins that I was saving in a big thick glass jug for years. Last night, I fished about $60 in quarters and that didn't make a dent in my pile. So, today, I figured I'd cash the coins in. The major problem is where? Yeah, there those coin machines in stores, but they want 16%. To cash in my coins, it would cost me about $128+. Some banks will take coins, but rolled- I'm not thrilled about putting thousands of coins in a wrapper. After checking around, the banks that have a coin machine, require having a $100 deposit into a savings account.
What do you do with lots of coins? For free!!!!!
 

We really don't get a lot of coins.

Quarters are kept & used for parking meters.

The rest are rolled (after looking for wheat backs and the like) and turned in to the bank... but that is a rare occurrence.
 
The credit union has a coin machine. I recently used it to cash in about $85 in coins. In the past, if you had an account there, no fee. This time, there was a 5% fee. I am a bit peeved.
 

I was hoping you had the answer, Fuzzybuddy. Coin machines may be the answer but with so many pennies the containers are too heavy for me to carry. I save wheatbacks as well. They are not worth a lot but I like them.
 
I saved them for ages... in leather boxes....
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...I got some money pouches from the bank, and bagged it all up...it took me 3 hours.... and there was close to £1000 there.... I took it all to the bank and deposited it in my account.

I swore I'd never do that again, and I haven't.

I've got one box with copper in it only... probably only about £10 worth... but now I so rarely use any change, I don't even think about that box now..
 
We’ve only got one large bottle of coins which we’ve done nothing’ with except for one roll of coins. One rainy day we will probably roll up the rest and take it to one of our banks.
 
I once had a coin sorter that would create stacks of the same coins. Then I would put them in wrappers. Then take them to the bank and cash them in.

But nowadays banks refuse wrapped coins. They'll take them mixed and sort them in their own machines.

I'm just trying to imagine how many times and for how much money the banks were shorted by taking prewrapped coins from customers.
 
We use the bank to count the money in their machines with no cost, it deposits into our account. The only problem is the jar is too heavy for us to carry, so we have to divide it into smaller jars.
 
Maybe donate some of those bags to charities, if you have one located nearby where you can bring them. Or even give them away to some of the people reduced to begging on the street. Especially the ones teetering out there in all weather with one leg, etc. They'd probably be glad to get cash in any form.

I don't include pennies in this. I think they are pretty much worthless and should have been phased out long ago.
 
Rae said:
We use the bank to count the money in their machines with no cost, it deposits into our account. The only problem is the jar is too heavy for us to carry, so we have to divide it into smaller jars.
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we don't have cash machines in our banks which count money to be deposited , so like you when taking coins to the bank it's very heavy so can only be done a little at a time.

Not helped by the fact the bank will only accept £100 of coins in each transaction.. so it means several trips to the bank... and again made more difficult because most brick and mortar banks in the UK have been closed down.

My nearest bank now is a 50 mile round trip... and that one is closing in the Autumn, after that..goodness knows how far the nearest one will be... this is all to get people to start using digital currency only...
 
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fuzzybuddy said:
I have about $800+ in coins that I was saving in a big thick glass jug for years. Last night, I fished about $60 in quarters and that didn't make a dent in my pile. So, today, I figured I'd cash the coins in. The major problem is where? Yeah, there those coin machines in stores, but they want 16%. To cash in my coins, it would cost me about $128+. Some banks will take coins, but rolled- I'm not thrilled about putting thousands of coins in a wrapper. After checking around, the banks that have a coin machine, require having a $100 deposit into a savings account.
What do you do with lots of coins? For free!!!!!
Click to expand...
My credit union has a coin machine that they will accept coins they charge you 5% though. Of course what you could do is if you go to your grocery store and they have self checkout the slot where they have the coins entry usually can be flipped up and you can pour in as much as you want up to their acceptable limits. Mainly I do that with WinCo and Safeway I think but not with Kroger / Fred Meyer
 
Disgustedman said:
My credit union has a coin machine that they will accept coins they charge you 5% though. Of course what you could do is if you go to your grocery store and they have self checkout the slot where they have the coins entry usually can be flipped up and you can pour in as much as you want up to their acceptable limits. Mainly I do that with WinCo and Safeway I think but not with Kroger / Fred Meyer
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here the supermarkets have coin machines ..but they charge a whopping 13 %
 
fuzzybuddy said:
What do you do with lots of coins?
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Spend them as I go so they never become a problem. If I find my purse getting too heavy with them, I drop a bunch in one of those perpetual charity cans cashiers tend to have on the counter.

Once my son had collected a can of about twenty dollars worth of coin on the top of his dresser and it was starting to break one of the slats. I gave him a twenty, drove through a poor neighborhood and set the can out on the sidewalk. Hoping to make some little kids day.

As a bank teller my heart would sink when I saw someone coming in with a coffee can or big jar. Even when rolled those large amounts were super heavy. I once tore a ligament along my collar bone just setting a box of quarters on the floor of the safe. It took years to completely heal.

I don't know why people save them. Money in a bank account at least earns a little interest.
 
There are actually people who buy rolls of coins as a hobby. They're called Coin Roll Hunters or; CRHers.
They buy rolls of coins, mostly from banks, then meticulously sort through them one at a time to determine if there are some coins of value to collectors. Apparently, most of them do quite well at it however, you have to know what to look for.
If you have any coin collector clubs or associations near by to you it might be worth contacting them to see if they have any Coin Roll Hunters among their membership and if any are interested in purchasing your rolls of coins at face value.
 
fuzzybuddy said:
I have about $800+ in coins that I was saving in a big thick glass jug for years. Last night, I fished about $60 in quarters and that didn't make a dent in my pile. So, today, I figured I'd cash the coins in. The major problem is where? Yeah, there those coin machines in stores, but they want 16%. To cash in my coins, it would cost me about $128+. Some banks will take coins, but rolled- I'm not thrilled about putting thousands of coins in a wrapper. After checking around, the banks that have a coin machine, require having a $100 deposit into a savings account.
What do you do with lots of coins? For free!!!!!
Click to expand...

If you have the time check out ebay. Put quarters in the search and look at the solds.
Some of the older ones sell for some money. A lot sell for more than a quarter.

I have a ton of coins myself. I will get around to it one of these days. I will admit its very time consuming looking them up.
Im working on getting rid of things that take up more space right now.

You could also check out coin dealers. You wont get as much but you will probably get more than face value.
 
Della said:
Spend them as I go so they never become a problem. If I find my purse getting too heavy with them, I drop a bunch in one of those perpetual charity cans cashiers tend to have on the counter.

Once my son had collected a can of about twenty dollars worth of coin on the top of his dresser and it was starting to break one of the slats. I gave him a twenty, drove through a poor neighborhood and set the can out on the sidewalk. Hoping to make some little kids day.

As a bank teller my heart would sink when I saw someone coming in with a coffee can or big jar. Even when rolled those large amounts were super heavy. I once tore a ligament along my collar bone just setting a box of quarters on the floor of the safe. It took years to completely heal.

I don't know why people save them. Money in a bank account at least earns a little interest.
Click to expand...
perhaps that's one of the reasons our banks set a limit of just £100 of coins per day. Until relatively recently it was only £25
 
I keep like with like in separate containers--one for pennies, which are soon to be finished; another for quarters, which I use for the laundry; and another for nickels and dimes which are collecting dust. Never thought about their future. Another reason for my daughter to resent me after I'm gone.
 
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