Average value of coins returned in change per pound

So many discussions on the ending of the cent, many about rounding and how many cents are typically paid out per cash transaction. For grins and giggles, I did a calculation using the fewest coins back for each of the 99 possibilities. A few of the returns:

Average number back per transaction

1¢ - 2.02 5¢ - 0.40 10¢ - 0.81 25¢ - 1.52​

Average weight in ounces per transaction (used 2.8g for cent, average copper/zinc)

1¢ - .20 5¢ - .07 10¢ - .06 25¢ - .30 ​

Count of each to equal 1 total pound based on averages above (25.2 transactions)

1¢ - 50.9 5¢ - 10.2 10¢ - 20.4 25¢ - 38.2​

Dollar value per counts in line above

1¢ - $0.51 5¢ - $0.51 10¢ - $2.04 25¢ - 9.54
​

Hopefully I don't have a major blow, I enjoy math but sometimes it doesn't like me. I come up with $12.60 per pound.

I have mentioned in the CRH forum that I offer to "purchase" change from friends and family, at full value rounded up to the next dollar. Saves them from having to return to the bank or worse yet lose money in a Coin Star. My brother recently took me up on it and I got the bucket below from him, which as you can see weighs 28.4 pounds. I don't want to remove the coins yet, I don't like jostling them around more than necessary, so not exactly sure about the bucket, I'm going to estimate 10 ounces. That would leave about 27.8 pounds. Based on my calculations I will guess the value to be:

$358.28

Anybody else care to guess? Not sure how long it will take to separate and count but as soon as I do, I will post it.

 

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I have two identical piggy banks. I put quarters in one and the other denominations in the other. They both fill up at about the same rate. This information is useless for the purposes of your calculation.

Hard to judge your volume of coins but looks to be almost double my piggy banks, which typically have a bit over $200 in them. So I'd say your estimation is pretty close.

 

I like this - it's a nice twist on the usual conversions between value and weight based on coin type.

Based on my recent experience, I'd put the average weight per cent closer to 2.5 or 2.6g - I could go through several transactions without seeing copper cents, just before stores stopped giving them. Now, with the "penny drives", we may well start seeing more copper cents in change, though!

I've had self-checkouts return two nickels instead of a dime. That would really throw things off - 10g vs. 2.27g!

 

$342.50
I took a pound off for the container. (27.4lb)
I also figured $12.50 a pound for random change...$12.50 is easier for me to remember.
It helps to put the change in a plastic bag, Ziploc or shopping or trash bag.
The bag eliminates container weight.

 

I agree, should have adjusted the cent weight down due to higher percentage of the zincs. Any guess on the value?

I use ziplocs for smaller quantities, but otherwise I like something rigid so that the coins don't get jostled as much and cause additional "bag" markings.

I will weigh the bucket once it's emptied and post.

 

Just to note the trick my mind played on me when looking at the bucket in the pic: Along the left side inside the bucket is a lighter shade of yellow and to me that instantly looked like the bottom of the bucket, making the left side of the coin pile appear to be segregated rather impossibly. Anyway...

 

I sorted the change into 4 coffee cans and wanted to get the weight of the plastic bucket. The pound weight scale wasn't sensitive enough, and it overloaded the gram scale. We don't have an ounce scale, so I tried something else. I got two large plastic containers, the first was just a little bigger than the bucket and the second large enough to hold the first (see pics). I put the first one in the second then filled it to the brim with water. Then I took the bucket and gently set it on top of the water until it was floating with only a light touch of my finger keeping it balanced. Then I removed it and the first container from the second and dumped the displaced water into a measuring cup. It was right at 100 ml. A web conversion ap showed that to be about 3.5 ounces, or .22 pounds. The filled bucket was 28.4 so will take it to 28.2 pounds.

Should have the coin counts on Wednesday.

 

Wow that's one way to get the job done.
I probably would have stepped on the scale and then picked up the bucket...not very accurate to the gram/ounce but less production I like your way better.

 

We think alike @rte - I tried that, but the scale didn't change when I picked up the bucket, just not sensitive enough. We may find that the original weight was off, will know when we get the total count of all of the coins.

 

Average weight of a 1 gallon bucket...your in the Ballpark 248 grams =
0.547 pound