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 Replies: 26 / Views: 119,741 |
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Bedrock of the Community
United States
20753 Posts |
AND here is something else to think about. Not sure if it was here but somewhere I was reading that many people that have used coin counting machines suspect they were cheated. Now think about that. You have a large amount of coins. You take them to a bank or place that has a coin counter. Some may charge you for that service and some may not. So they tell you that there was $24.44 in your coins. HOW DO YOU KNOW THAT IS ACCURATE? What if that machine was set to short you? HOW DO YOU KNOW?
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Pillar of the Community
United States
1213 Posts |
Carl,
All of the banks in my area (Wisconsin) have counting machines. I normally take my bags to a Chase. While I don't count the coins before taking them (that seems like a waste of time) I have a pretty good idea of what's in the bags because I keep track of what I open & put in there. If I'm doing a box of halves and find 5 worth keeping, I pull 5 from my half dollar cup to replace them, so I should have $500 when I take the coins to the banks. Based on my experience, for the most part, the machines are accurate. I have occasionally had it come up with $498 or $499, but I've also had it come up with $501 or $502 so I figure that, on average, it balances out. I think the banks have to balance their books, so if the machine is set to count $500 as $495, then when they balance at the end of the day, or with the Brinks courier that takes the bags for processing, I'd think they'd be short.
This is just my 2 cents, unless my counter is off, in which case it might only be 1 1/2 cents.
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Valued Member
United States
102 Posts |
Suntrust banks around me, none have coin counters. I asked what they could do since I'm an account holder and they said they can bag up my coins, ship it out and have my account credited. Not the best solution but it is free for members.
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New Member
United States
34 Posts |
okiepb,
I used to work for a bank that had a counter and we had a lot business. In my experience, the machine would either be right on or give back a little more in the customer's favor.
As far as balancing, we would ship the bags out with our Brinks shipment. In order to balance, the bag has to weigh within a certain range.
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Valued Member
United States
137 Posts |
I buy bags off the machine at my bank from time to time. (The Credit Union won't sell.)
They sometimes save the rejects (called bypass) for me.
Here's what they handed me on Tuesday:
o Five mangled nickels. I'll tap them with a hammer, and then spend them.
o four nickels with no apparent problem. I noticed that they sometimes reject nickels before 1940 due to weight, but these are modern.
o one 2 peso modern Mexico. Donate to a friend who does mission work in Mexico.
o Canada: two dimes, two nickels, one quarter, all modern. Into jar, for next trip to Canada
o Two Chuck E. Cheese game tokens. Will give to someone with a kid.
o one "angel in my pocket" token. Junk drawer
o one Cascade Car Wash token. Junk drawer
o one ECO car wash vacuum token. I have about forty or fifty of these, but I don't use a car wash.
o one Euro 2008
All for free.
Kinda fun.
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Pillar of the Community
United States
1234 Posts |
I just asked the other day at my bank and they gave me a 1964 Canadian cent and a 25 cent from Barbados. They know me by name and ask if I got lucky on the bag of coins I hand over to them, then I ask for another box and they are happy to give it. I use two different banks and they both have coin counters at all their main branches (the drive up only places don't) I try to get in before the noon rush, and I drop them at the down town branches then go to the branch near the mall to get more new ones. They never charge a fee and will not take any coin rolls.
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Valued Member
United States
337 Posts |
I deal with a large bank that has a counter at only selected branches, and even then they count and credit your account at night. If you deposit the coins it is free.
If your goal is to get dollars for your change, try a casino. They need paper money in your possession in hopes you will put it into a machine, and lose it to them. But, you can just leave with the bills and not play, which I recommend. I do eat their buffets.
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Valued Member
United States
317 Posts |
A blast from the past.
Carl is the only ID I recognize from this thread that's still active.
Didn't a few banks try to use the counters a few years ago but once the machines broke down, they found it just cost too much to maintain so they just got rid of them?
I can just imagine the person that has to empty one of those machines once someone dumps a few hundred bucks in pennies! lololol
Crazy things people do.
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Valued Member
United States
66 Posts |
Several of the credit unions in Texas have counters. Not sure how it would work for non-members but if you are roll hunting it is the only way to go.
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New Member
United States
3 Posts |
In NC, all the state employee credits union locations I have been in have coin counters that are free to use as long as you are a member.
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Pillar of the Community
United States
1234 Posts |
Quote:
What if that machine was set to short you? HOW DO YOU KNOW? Count out $23.67 or any specific amount and see if they are cheating you, I did it and they are being square with me. |
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Replies: 26 / Views: 119,741 |
First Page
Posted 08/08/2010 10:09 pm
