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Average value of coins returned in change per pound
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<p>[QUOTE="ksmooter61, post: 26553150, member: 169607"]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:</p><blockquote>Average number back per transaction</p><blockquote><p>1¢ - 2.02 5¢ - 0.40 10¢ - 0.81 25¢ - 1.52</p></blockquote>Average weight in ounces per transaction (used 2.8g for cent, average copper/zinc)</p><blockquote><p>1¢ - .20 5¢ - .07 10¢ - .06 25¢ - .30 </p></blockquote>Count of each to equal 1 total pound based on averages above <b>(25.2 transactions)</b></p><blockquote><p>1¢ - 50.9 5¢ - 10.2 10¢ - 20.4 25¢ - 38.2</p></blockquote>Dollar value per counts in line above</p><blockquote><p>1¢ - $0.51 5¢ - $0.51 10¢ - $2.04 25¢ - 9.54</p><p><br /></p></blockquote></blockquote><p>Hopefully I don't have a major blow, I enjoy math but sometimes it doesn't like me. I come up with <b>$12.60 per pound</b>.</p><p><br /></p><p>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:</p><p><br /></p><p>$358.28</p><p><br /></p><p>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.</p><p><br /></p><p>[ATTACH=full]1692107[/ATTACH][/QUOTE]</p><p><br /></p>
[QUOTE="ksmooter61, post: 26553150, member: 169607"]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: [INDENT]Average number back per transaction [INDENT]1¢ - 2.02 5¢ - 0.40 10¢ - 0.81 25¢ - 1.52[/INDENT] Average weight in ounces per transaction (used 2.8g for cent, average copper/zinc) [INDENT]1¢ - .20 5¢ - .07 10¢ - .06 25¢ - .30 [/INDENT] Count of each to equal 1 total pound based on averages above [B](25.2 transactions)[/B] [INDENT]1¢ - 50.9 5¢ - 10.2 10¢ - 20.4 25¢ - 38.2[/INDENT] Dollar value per counts in line above [INDENT]1¢ - $0.51 5¢ - $0.51 10¢ - $2.04 25¢ - 9.54 [/INDENT][/INDENT] Hopefully I don't have a major blow, I enjoy math but sometimes it doesn't like me. I come up with [B]$12.60 per pound[/B]. 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. [ATTACH=full]1692107[/ATTACH][/QUOTE]
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Average value of coins returned in change per pound
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