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 Replies: 19 / Views: 3,655 |
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Valued Member
United States
265 Posts |
Just had my first coin star experience today. I had been saving all the cents I has searched through for the entire year. The small fee was well worth my time I would have spent rolling them! Maybe I will start searching more rolls.
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Pillar of the Community
United States
2520 Posts |
Quote:
The small fee was well worth my time I would have spent rolling them! Isn't the "small fee" like 8.9%. I've been averaging 8-10 boxes of nickels a week. 10 boxes is $1000.00, @ 8.9% would be $89.00 a week. I can't afford to throw money away. Don't get me wrong, Coinstar is great when it's working properly...and better yet when it's FREE! Find a bank that has a free counter for it's customers like I do! (My bank has a Coinstar free for customers and only 4.9% for non-customers) |
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Valued Member
United States
77 Posts |
No matter what the roll type is bank roll paper or plastic you can "re-install" and it doesn't take all that long for free.
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Moderator
 United States
15389 Posts |
 My local bank has a coin counting machine that is free for customers and charges 5% for non-customers. I have my checking account there ..... so on average I dump $200 a week of nickels at no charge ...... David |
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Pillar of the Community
United States
2520 Posts |
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No matter what the roll type is bank roll paper or plastic you can "re-install" and it doesn't take all that long for free. Or better yet, get some FREE coin wrappers from the bank. I rerolled 3 boxes of nickels last week. It does take considerably longer than throwing them into a canvas bag and running them through a FREE Coinstar! I only reroll a few boxes to exchange for new boxes at smaller branches with smaller vaults and don't keep a large change inventory. They are glad to do it for me (and I don't even have accounts at most of the banks I get boxes from) |
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Bedrock of the Community
United States
11951 Posts |
Maybe it is just me .. But if you were doing a lot of rolls and spending 8.9 percent to turn them in ... the same money could buy a lot of nice coins ... but I could be wrong. I have been thinking about roll searching ..just to see what I could find. But I can turn coins into my bank for free. They have a counter.
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Pillar of the Community
United States
1418 Posts |
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Valued Member
United States
124 Posts |
Erwindoc, If you re-roll each roll as soon as you have finished searching it, there is little time involved at all. When I re-roll, I don't even have to count the coins; I just return to the pile the same number I took out.  Nickelsearcher, Maybe this is the advantage of my living n a very small town, but when I take loose change to my bank, they count it. They'll even count a shoe-box full if that is what I bring them.  |
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Pillar of the Community
United States
968 Posts |
Even if you account for finding the occasional silver coin or other coin of value, you just aren't going to find them at the rate that can justify paying the fee. You'd probably come out better if you bought the silver coins you are hoping for from a dealer or on ebay. |
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Pillar of the Community
United States
2520 Posts |
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They'll even count a shoe-box full if that is what I bring them. I bet the customers in line behind you would love that!  |
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Pillar of the Community
United States
1424 Posts |
if you are going to use Coinstar then try to use the Giftcard option, I hear there is no charge that way.
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Pillar of the Community
United States
5604 Posts |
Just a thought, I have counted my change before using the "coin counting "machine, at my bank, free of charge, I did this because I thought I was underpaid the last time I was there with coins.
I placed the counted coins in the machine and the receipt stated the total coins counted, which was 7.80 less than I counted before placing the coins in the machine.
Moral of my story" there is a fee, whether you are told so, or the machine just does not count right and you paid a fee, like it or not"....Try it for yourself, ask a teller for 3-rolls of quarters, and go directly to the counter and see what the receipt states, you might be very shocked!!
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Valued Member
United States
124 Posts |
Ratman: Who's in line? The population of this whole county is less than 3,000! And it only bothers the teller if she's still working the crossword puzzle |
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Pillar of the Community
United States
2520 Posts |
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Moral of my story" there is a fee, whether you are told so, or the machine just does not count right and you paid a fee Have you tried your experiment at different machines? No doubt they can malfunction...and miscount. Then again, I've had tellers do the same. Several times tellers gave me back more money than I turned in via rolls. (pretty bad when a teller can't count how many rolls of halves you have and multiply by 10....even worse when they screw it up with an adding machine). Several times I've had to correct the mistake. I've tested the machine at my bank on several occasions. Before I started using for my dumps, I counted about $40.00 worth of change I had gathered from roll searching on a small scale. The machine counted everything correctly....printed receipt was short the one crusty cent that was in the reject bin. I have tested it occasionally since that time since I have heard people complain that the machines do malfunction. The most it's ever been off was a few cents. Most of the time when I'm dumping I have a fair idea what's going in. I know how many rolls I've searched and a fair idea of how many I kept out. Always very close to my estimate. But due to other peoples bad experiences I will continue to periodically test the machine, and have a very close estimate as to what's going into the machine and advise others to do the same. |
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Pillar of the Community
United States
3640 Posts |
All of those machines are ripoffs. I'm just jealous I did not
think of it years ago. The one at my bank pays pretty good though.
Just about every time I walk by it I reach into the so called reject tray and come up with a few bucks change. That is when it is not covered with a sheet with an out of order sign on it. If I see someone getting ready to dump I go over to them and offer to buy their coins. I'm not proud :) Hit the coinstars too. People are so busy they forget to take the silver etc. out of the tray. They just dump and grab their slip. If you have time, grab your lunch and hang
out in the lobby waiting :)
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Valued Member
United States
77 Posts |
The machines do not count correctly when they are dirty or when you dump the coins in two fast. I've been shorted by these machines more than once at the penny arcade. The teller made it right both times. When they opened the machines, two different machines, both times there were dimes in the penny bag. I will only dump nickels in at a slow pace and if the machine turns them into quarters, it will be ok.
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Replies: 19 / Views: 3,655 |
Posted 12/11/2009 8:19 pm
