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 Replies: 22 / Views: 7,025 |
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Pillar of the Community
United States
1327 Posts |
I use a coin star machine when I am in a hurry and just finish looking throuhg a lot of rolls of pennys, nickel, and Dimes. I don't use it if am cashing in anything bigger then those just because it cost so much. But most of the time I will wrap my coins and take them back to one of the banks I go to. I usally get rolls from one bank and return them to another that way I never search the same rolls.
Also to anwser your poll. There are alot of coin it will not take. I knowalot of time it will not take my wheats I have to incert them so I think alot of old coins will just be rejected.
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Pillar of the Community
United States
547 Posts |
Tim, that might have been me that you were about to tackle  ...I don't look through any coins that I get in everyday change. I save 'em and then take them to the coin counting machine at the local bank (which does it for free) and then take the cash to buy other coins. |
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Rest in Peace
United States
2884 Posts |
Quite a racket to me. It's like paying at an ATM to get at your own money. If you go to your own bank they normally do not charge any fee's. I suspect that most folks doing this are not collectors. Mike
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Pillar of the Community
United States
772 Posts |
My bank does not want rolled coins, because they end up ripping them out and counting them anyways. So they will do the counting for free.
Other banks around will only take rolled change and not give you the option to count it with the.
There has been only one time I have noticed a CoinStar machine at a grocery store. They are not all that popular here.
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Bedrock of the Community
United States
20753 Posts |
Some people are just stupid. We have those coin accepting machines around here also. There is one in a grocery store near here called Jewel. It is about 500 feet from 2 banks that will take and do take change. Yet I've seen people dump cans of coins in the machine at the store and loose a % doing that. However, there are some banks around here that have certain charges for accepting raw coins (in a bag, box, can, etc.) One bank I go to will charge for any coins over $100 but if you deposit it in an account it is free. Another bank will not accept coins at all unless they are deposited into an account. Most of the banks around here will not accept rolled coins. I purposely opened accounts in about 15 different banks just to play safe with such things. Another thing I noticed is unless you make over $10 in interest in an account, many banks will not report it to the IRS. This is in the Chicago land area and we have more banks around me than grocery stores I think. One of the things I do periodically is buy a $50 bag of pennies (cents for the nuts that are particular to terminology) look through them and take the residue (unused coins) back to another bank.
Sure wish there was some way of convincing people to let me have their coins in cans, boxes, jars, etc and I'll take them to a bank when I'm done looking through them.
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Bedrock of the Community
United States
14454 Posts |
My bank will not take rolled coins and they have a machine that counts change like a coinstar and they do not charge either, you just take them the buckets of change you have aquired and they dump it into the machine and they either give you cash or they deposit it into your account so I have never used a coin star machine, but if I had to guess I would say that probably 75% of people that use them never search their change before using them and I am just going by all the stuff the teller at my local bank has to show me when I go there that they have picked out of the counter machine they have there (which is quite a bit of cool coins considering its in a small town) and not alot of people bank there considering we have 4 banks in a city with about 35000 people in it and probably alot dont even know they have the machine. It spits out the foreign coins so there is usually some pretty cool foreign coins they have to show me when I am there but you would be suprised at all the silver coins and old copper coins they find as well
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Pillar of the Community
 United States
1626 Posts |
Do you guys think, most people look for old coins before they dump them, or do most people just cash in? All I know, when I saw that person dumping a 5 lbs coffee can full of half dollars, I could just not stop wondering if any were silver.....
Tim
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Pillar of the Community
United States
1840 Posts |
I just got back into collecting over the last year or two. Before that I never looked through my change. Fortunately I save spare change for my vacation fund, so I had 60 pounds of coins waiting for me when I picked up the hobby again.
As far as people searching their change, the less people that do, the more that's left circulating for me.
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Pillar of the Community
United States
533 Posts |
Coinstar does not bother me per say, but I am fairly certain that few sort through their coins before they sort them. I just hope that any good stuff they give up finds its way back into circulation and into my pocket, because I do sort before I roll! |
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Valued Member
United States
191 Posts |
I have approx. $1600.00 in roll coins in my house that I have compiled over the last 5 years or so. I had been stashing it away for a vacation or something. Now that I have been bitten by the collecting bug....I am in the process of breaking all rolls open and sorting through it all! I am through about $160 worth so far and havent found anything accept 2 wheaties. Although I'm sure there are things I don't know to look for. It seems like all I come across are '64 Jefferson nickles, and 65 wash. quarters.......I almost feel like its all been picked through...but I have a ways to go. Hopefully I get lucky! And I could really use a good magnifying glass! |
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Valued Member
United States
82 Posts |
i know a lot of people don't look
if they did then you wouldn't have any luck roll hunting
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Bedrock of the Community
United States
14454 Posts |
quote:
Originally posted by Tpatna
Do you guys think, most people look for old coins before they dump them, or do most people just cash in? All I know, when I saw that person dumping a 5 lbs coffee can full of half dollars, I could just not stop wondering if any were silver.....
Tim
I doubt it, I know before I started collecting a quarter was worth 25 cent no matter what date the dern thing was, as long as it was a Washington quarter it was worth 25 cent to me and thats all I expected to get out of it and I am sure that collectors that do search change are in the minority. Up until I joined this forum I still felt the same way, if it wasn't different from anything I regularly saw in pocket change that that is what it was, just pocket change worth face value. I knew nothing about key dates of specific coins all I knew was I liked the look and feel of Morgan dollars and wanted as many as I could get my hands on and anything else that looked like stuff you would get from the local corner market was only worth face value. I used to save all my change just because I didn't want it weighing down my pockets, of course I would take all the pennies out and toss them in the garbage before dropping the silver colored change in the 5 gallon buckets. Of course my views have changed a little now but then I didn't think a penny was worth the hastle of having it weigh the pockets down in your pants so I have probably threw away more pennies than alot of people have in their collections because I practiced this from 1986 when I got my first job all the way through around 2005. And when I first came to this board and read that some big names on this board was proud enough to put in their sig line that they collected licoln cents I was flabergasted and thought it had to be someone high up on the forums grand child or something and had been here since the conception of the forum and thats how they had so many posts and everyone knew them, of course like I said now my views have changed but that is just the way it was a short time ago Edited by Bryan1315
10/24/2006 8:34 pm
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Valued Member
United States
141 Posts |
I think they're pretty coll. For 1 they're fast, and for 2 they spit out silver and foreign, so I search it each time I walk by one. Haven't found silver yet, did find some canadian stuff though. That was kinda neat.
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Valued Member
United States
69 Posts |
only benefit to coinstar where I live is it spits out sacagawea's every once awhile. same with the post office.
otherwise, people just dump loads of change in there not knowing what they are throwing away.
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Bedrock of the Community
United States
20753 Posts |
Due to people not looking through change they have accumulated in jars, cans, boxes, etc. when I go to any garage/yard/estate sales I always ask if they have any such containers with coins that they would like to get rid of. You have to ask because they seldom if ever will put money of any kind out in public around here. A few times I came up with about 100 times face value of what I was able to buy for face value at such places. Mostly they are not counted out so I have to sit there and count out whatever they have. They usually want me to put them in stacks so they can see I'm not cheating them. The few times I found such coins the people told me they were just getting ready to take them to one of those places where they could just dump the coins in a machine and get regular money back.
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Replies: 22 / Views: 7,025 |
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Posted 10/23/2006 11:09 pm
