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 Replies: 16 / Views: 12,300 |
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Valued Member
United States
100 Posts |
Since the recent TD Bank Coin Counter Machine scandal (short-changing customers), I just went to one of my local PNC Bank locations, only to find that PNC has shut down all of their machines also (and I am ANGRY!). Does anyone know if this may be related to the TD Bank investigation? This scandal may be more widespread than first thought. Now I can not trust any machine, and I refuse to pay the outrageous Coinstar ransom (~10%). Who knows, they also might be cheating customers. I wonder if the Bureau of Weights and Measures (or a similar agency) is actually verifying and/or calibrating these machines.  |
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Pillar of the Community
United States
2589 Posts |
Most major banks use De La Rue coin counting machines, the models are slightly different, but the actual mechanical parts and software are practically the same.
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Pillar of the Community
United States
7622 Posts |
Back in the old days gas pumps were suspect of delivering less than a gallon of gas even though a customer paid for a gallon of gas. Eventually the state weights and measure departments got involved and started periodically checking each gas pump for accuracy. They still do this to this day.
I eventually see the state's weights and measures departments getting involved with the accuracy of coin counters. As long as the merchant (or owner of the machine) can get by with cheating customers they will do it. It's a business where money (and lots of it!) is involved.
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Pillar of the Community
United States
4085 Posts |
I am a PNC customer and also recently discovered that when I showed up with my big bucket of change to count. I ended up going home and rolling $185 worth of coin and took it back. I was not too happy either but I figured it was related to the recent coin counting machines in the news. I need to check out Coinstar at the local Krogers. I think you can get a Kroger or Amazon gift card for full value; with two teenagers in the house, it won't last long. |
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Valued Member
United States
71 Posts |
Yes, the coinstar machines offer gift cards at zero charge. I spend a fair amount on Amazon so it makes sense for me to throw a hundred dollars into coinstar every couple months. Sometimes you'll even get special offers like free redbox videos for using the coinstar machines. I'd never pay the 10%, but the gift card deal works pretty well for me. |
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Moderator
 United States
188952 Posts |
Yes, the Coinstar at my grocery store gives full credit for gift cards. I get one for that store since I am going to shop there anyway.
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Pillar of the Community
United States
828 Posts |
How do you know the Coin Star machines arn't cheating you?
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Moderator
United States
188952 Posts |
I count before I dump. It has always matched, unless there are some rejects (which I re-feed).
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Pillar of the Community
United States
1119 Posts |
The Coinstars near me do not seem to offer gift cards for the store that the machine is located in. So I don't dump there
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Bedrock of the Community
United States
94367 Posts |
From a bank's standpoint, dropping the counting service is just another cost-saving measure as they battle with the draconian measures of the Dodd-Frank law. They probably figure they'll discourage CRHing if they don't offer the counting service for returns, which saves them labor all around. The machines are also expensive to maintain. Bottom line is...well, the bottom line.
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Moderator
United States
188952 Posts |
Quote:
Bottom line is...well, the bottom line. An accurate statement.  |
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New Member
United States
21 Posts |
I noticed just before PNC shut down their machines that half the PNC locations I used had stopped accepting half dollars due to wear and tear/ Jams. Also a lot of the machines were showing their age. Could be they reavaluted the cost benefits and decided it was worth keeping them.
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Pillar of the Community
United States
998 Posts |
I too count most of the time before I dump at CoinStar. It has always been exact or within 1 coin of my count except for a couple times it was actually a couple bucks higher. I suspected that there were coins jammed in the hopper that got loosened when my large stash was run through it. Occasionally too I get coins loosened up that fall into the reject, since I KNOW I didn't leave any Euro, Canadian or silver coins in my chum bucket!
I get the Apple iTunes gift card, it works for us, saves me from having to wrap and there is no fee.
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Pillar of the Community
United States
589 Posts |
Since the TD bank coin machines are offline I have been scoring some half dollars at branches that never had any. People cannot use the machines to dump their half dollars so they give it to the tellers now. So there is a silver lining in this event at least. ST
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Pillar of the Community
United States
964 Posts |
just dropped $40 in pennies at a coinstar. Wow! $40 in pennies use to take 4 mins at PNC. Took more than 10 mins at the coinstar machine. It was a good run.
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Moderator
United States
188952 Posts |
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Replies: 16 / Views: 12,300 |
Posted 05/05/2016 8:54 pm
