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 Replies: 13 / Views: 1,334 |
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Valued Member
United States
193 Posts |
As I've gathered rolls & rolls from banks I've viewed the search as a semi-mindless relaxation with unwrapping and looking through coins but always dreaded rolling the rejects back up and then taking them back to a bank. One time I even went so far as to pay the 8.75% fee to have a CoinStar machine count 10,000 cents, just because I didn't want to roll them back up. The other day I stopped at a local credit union for a stash of Jeffersons and noticed an odd looking coin counting machine in the corner. The teller described the machine and mentioned that it was free for members use and they'd be given a voucher for cash or to use as a deposit.  I opened a savings account for $5, no monthly charges, no fees and and an ATM card and I don't have to roll rejects back up. All I do is walk in with a bucket, pour them in, go to the counter and get more back!
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Valued Member
United States
327 Posts |
I wish my credit union had that.  |
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Pillar of the Community
United States
6326 Posts |
I have always been able to bring any amount of any denomination to my bank.....hand it to them.....then they go to their coin counting machine.....dump them in....and then come back and ask if i'd like cash or have it deposited into my account....  I've never had to count, roll, or anything......just bring in a container or bag...... |
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Pillar of the Community
United States
3294 Posts |
My local dump bank has recently installed a coin counting machine in the lobby. I guess they got tired of hauling my coins into the back room where their other counter is.
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Valued Member
United States
462 Posts |
The problem with the bank doing the coin counting is you have no verification. I put mine through a coin counter first, and then take them to the bank. Even if you feed them into the coin counter yourself, is there any guarantee that the coin counting machine hasn't been rigged?
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Valued Member
United States
499 Posts |
Actually, part of my job involves testing the coin counting machines in my town. I precount 7 or 8 bucks and then test the machine against my count.
Richard
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Valued Member
United States
254 Posts |
I take my coins to a bank that has the counting machines that dispense vouchers which you take to the teller. There is no way I would roll hunt if I had to wrap my own rolls back up.
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Pillar of the Community
967 Posts |
My credit union does one even better. The coin machine actually deposits the amount into either the checking or savings account. No need to even see the teller. You just have to be extremely nice to the guy that replaces the bags.
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Pillar of the Community
United States
1026 Posts |
Well my bank also has the coin counting machine in the lobby and I us It.
However I have been standing there a couple times when a bag or two was full and they opened the machine to empty the bag. I noticed the coin return had quite a few rejected coins that were in it but they did not come down far enough to see them or get them. The teller that emptied the bag did not even look at that just replaced the bag and closed the machine.
So I guess you can get cheated a little but to me is still better than rolling allot of coins and trying to get the bank to take them back.
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Valued Member
United States
122 Posts |
I don't see why you would ever need to re-roll coins. The bank is just going to unroll them and dump them into a coin counting machine and re-roll them by machine. Just put the coins in a Ziploc bag and write your account number and the amount on the bag and deposit it into your account. If there is a discrepancy whne they count them, they will simply debit your account for the difference. That's the way I used to do it when I used to do a lot of roll searching.
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Valued Member
United States
105 Posts |
not all banks automatically re wrapped coins. My bank, a credit union, gives out customer rolled coin. You can tell cause if I ask for say 10 rolls of quarters, chances are I will see 2-3 different types of paper rolls with hand written account numbers on the side. The bank told people to stop writting their account numbers on the rolls, but some people still do. The problem with this is there is no garentee that the rolls will be accurate. I have opened a few dime and nickle rollls where someone had put a few pennys in there so I got shorted. But there have also been times where I found a few dimes in cent rolls, so I guess it all evens out in the end
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Pillar of the Community
United States
3294 Posts |
I mostly roll hunt boxes, so I usually know the value when the coins go into the machine. In my experience, the count has always been accurate within $1 on 1000 halves, or 0.2% Usually short. I attribute that to perhaps one or two of the coins were in sad shape and the machine rejected them. Occasionally, it is inaccurate in my favor as well. I also occasionally get a foreign coin. Since I know that my half dollars had no foreign in it, it was probably already in the reject slot, so I got a free foreign coin.
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Pillar of the Community
United States
5604 Posts |
All Commerce banks were taken over by T D BANK and they have FREE coin counting machines in every bank, some have 2 machines give you a voucher and you see the teller........
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Pillar of the Community
United States
2224 Posts |
I am able to dump all of my change at a local bank with a coin counter in the lobby for free. I think they are supposed to charge non-account holders but bringing them occasional donuts doesn't hurt!
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Replies: 13 / Views: 1,334 |
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Posted 03/11/2009 4:15 pm
