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Coin Star Frowned Upon ?

 
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Author Previous TopicReplies: 13 / Views: 835Next Topic  
Pillar of the Community

United States
751 Posts
 Posted 01/15/2020  2:24 pm Show Profile   Bookmark this topic Add Panther to your friends list Get a Link to this Message
I was reading in another thread where the OP said he understood Coin Star was frowned upon.
I didn't understand that. Did he mean as away of getting bulk coins cashed, in or getting coins to search through Coin star ?

Dan
Valued Member
United States
247 Posts
 Posted 01/15/2020  3:03 pm  Show Profile   Bookmark this reply Add Giwalsh to your friends list Get a Link to this Reply
Yes confused also,only bad thing is the fees
Bedrock of the Community
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United States
46735 Posts
 Posted 01/15/2020  3:14 pm  Show Profile   Bookmark this reply Add coop to your friends list Get a Link to this Reply
But if you have a lot of coins, and don't want to spend time rolling them, then it is sometimes worth the effort. You roll coins, then take them to the bank and sometimes they hassel you. But I always look to see what was rejected. Sometimes you will find silver coins.
Richard S. Cooper
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Bedrock of the Community
26893 Posts
 Posted 01/15/2020  4:40 pm  Show Profile   Bookmark this reply Add Errers and Varietys to your friends list Get a Link to this Reply
I do this all of the time, since I really don't have time to roll them all up. I am fine with the fees. Does not matter to me.
Pillar of the Community
United States
5214 Posts
 Posted 01/15/2020  5:31 pm  Show Profile   Bookmark this reply Add Chase007 to your friends list Get a Link to this Reply
Wait a minute, I love coinStar machines, only to collect from their reject trays, usually after E/V is done dumping his coins
Edited by Chase007
01/15/2020 5:32 pm
Pillar of the Community
United States
3777 Posts
 Posted 01/15/2020  7:18 pm  Show Profile   Bookmark this reply Add merclover to your friends list Get a Link to this Reply
I think what was frowned upon in the other message wasn't use of CoinStar, it was uploading 50 images of different coins (found at CoinStar) in one thread. No one is judging use of CoinStar. In fact, many CoinStars will not charge any use fees if you take an Amazon or Starbucks gift card.
ša va bien aller
Pillar of the Community
United States
2055 Posts
 Posted 01/16/2020  05:44 am  Show Profile   Bookmark this reply Add 11997755 to your friends list Get a Link to this Reply
My problem is I don't like rolling them or using CoinStar. I have over a 100,000 pennies stacked up in boxes and the wife is getting a little upset.
Pillar of the Community
United States
1685 Posts
 Posted 01/16/2020  08:19 am  Show Profile   Bookmark this reply Add Petespockets55 to your friends list Get a Link to this Reply
1 cent coins are the most economical to send through Coinstar, in terms of quantity.
+-9% for every 100 coins processed saves more time than doing the same for nickels, dimes, quarters or halves.

9C for 100 Lincoln cents vs. 9c for 20 nickels or 10 dimes or 4 quarters or 2 Kennedy halves. It saves quite a bit of time.
(Only time it isn't a benefit is if the Gift card is available as a choice and the fees are waived.)

11997755, your bank makes you roll them? I've heard some banks prefer large quantities to be bagged so they can send them off to be processed. Maybe ask your bank for those heavy-duty clear plastic bank bags. Cash those puppies in for others so you can post more great finds here.
Edited by Petespockets55
01/16/2020 08:21 am
Pillar of the Community
United States
1387 Posts
 Posted 01/16/2020  10:23 am  Show Profile   Bookmark this reply Add Willburton to your friends list Get a Link to this Reply
Panther. The post you're talking about. The op posted about 15 coins one one post with no description and wanted everyone to look at them to make sure they were normal coins. I personally thought he meant that posting 15 coins in one thread was frowned upon. That's what I took from that post.
Edited by Willburton
01/16/2020 10:23 am
Pillar of the Community
United States
751 Posts
 Posted 01/16/2020  2:13 pm  Show Profile   Bookmark this reply Add Panther to your friends list Get a Link to this Reply
I just wasn't sure. I have about 12,000 post 1982 one cent Lincoln coins, I do nopt plan searching through, but do not want to wrap them, and really don't see any easy way to make them available for other collectors to search. I concentrate on pre 82 copper only. So I have 12,000 unsearched post 82 Lincoln cents I don't know what to do with. Out of that 12,000, I easily found 1000 additional zinc rot coins that I separated.

Dan
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United States
2621 Posts
 Posted 01/19/2020  12:04 am  Show Profile   Bookmark this reply Add DrDon to your friends list Get a Link to this Reply
When I have $50 to return my bank will give one of their bags. I fill the bag with the cents and they ship them off for Loomis to roll and count. All they ask is I limit it to 1 or 2 bags at a time.
Pillar of the Community
United States
751 Posts
 Posted 01/19/2020  11:57 am  Show Profile   Bookmark this reply Add Panther to your friends list Get a Link to this Reply

Using the coin bags you cash them in by weight? How do they reconcile Zinc and copper weight variation ?
Dan
Pillar of the Community
United States
2621 Posts
 Posted 01/19/2020  8:36 pm  Show Profile   Bookmark this reply Add DrDon to your friends list Get a Link to this Reply
Loomis counts the bag and credits my account any overage. They deducted the difference the one time I was under. The bank has me fill out two deposit slips. One goes into the bag.
Valued Member
United States
269 Posts
 Posted 01/19/2020  8:43 pm  Show Profile   Bookmark this reply Add TwistedTrader to your friends list Get a Link to this Reply
I use a free coin counter at my primary bank.
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