BEWARE OF COIN COUNTING MACHINES!

Discussion in 'Coin Chat' started by Chip Kirkpatrick, Oct 25, 2021.

  1. Chip Kirkpatrick

    Chip Kirkpatrick Well-Known Member

    A year or so I was complaining about the coin counting machines at VYSTAR (NE Florida) They don’t accept rolled coins and everything must go through the machines. But the machines are NOT ACCURATE. I was constantly being shorted. As Ilearned and reported there is an external reject tray for foreign or damaged coins to be returned to the owner. HOWEVER THERE ARE TWO INTERNAL REJECT TRAYS that seem to skim coins without giving credit.

    Google this and you’ll learn about a number of “mistakes” that robbed as much as 10% from innocent clients.

    This morning I double counted $500 in Kennedy half dollars. Nothing but half dollars.

    I went to a VYSTAR location and started feeding in the coins. Soon the running total had $.03 credited along with the totals I was depositing. I informed a teller and she said they were probably coins that weren’t credited for somebody else.

    AH-HA! Proves my point.

    Well I was credited with $497.03. $3.00 short.

    Now that may not sound like much but it adds up. And it’s unearned profits for the bank.

    Happily they didn’t argue and credited me the $3.

    THIS TIME.
     
    Lueds and Inspector43 like this.
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  3. scottishmoney

    scottishmoney Unwell Unknown Unmembered Supporter

    TD Bank in the NE US was sued over shortages on their coin machines. They settled and removed the machines. When my commercial bank had a coin machine I noticed shortages. I have tested the machines at my credit unions and they are accurate.
     
  4. furryfrog02

    furryfrog02 Well-Known Member

    My credit union's machines are accurate. I dump a little over $2k a week and it's always spot on.
     
    Inspector43 likes this.
  5. beaver96

    beaver96 Well-Known Member

    It can depend on the type and model of machine. Certain count/sorting methods are more dependable than others. Also the condition of the machine matters. Older worn machines are more apt to miscounts. If the person before you had junk in their coin it can affect your coin count.
     
    furryfrog02 likes this.
  6. hotwheelsearl

    hotwheelsearl Well-Known Member

    I have never seen a coin counting machine in my life, and I've been to various banks and credit unions in San Diego, Los Angeles, and Irvine, CA. Are these a regional thing?
     
    tibor likes this.
  7. furryfrog02

    furryfrog02 Well-Known Member

    These are the ones around me:
    [​IMG]
    hey have different wraps on them depending on the bank. They are made by a company called Cumins.
     
  8. beaver96

    beaver96 Well-Known Member

    I've been servicing coin machines for 40 some years, I can only speak for our area but nearly every bank and credit union in our 4 state region has a coin counter. Most are just for customers. Some are self serve and others are operated by the tellers. Non account holders can get their coin counted at coinstar machines at Walmarts.
     
    AdamL likes this.
  9. hotwheelsearl

    hotwheelsearl Well-Known Member

    Weird, I guess I maybe need to go outside of Southern California, or something. I've been to over a dozen different banks/CUs. I even asked at a Chase bank once and they looked at me like I was slow. "do you mean...Coinstar? That's at the grocery store..."
     
  10. AdamL

    AdamL Likes Silver

    My bank has one. I think every bank I've used (Which is several in different parts of Missouri) has had one. You do have to hand your coins over to the teller and let them put them through the machine. I haven't "tested" one of them for years, but they were always accurate when I did.
     
  11. hotwheelsearl

    hotwheelsearl Well-Known Member

    Whenever I turn in rolls, the teller just takes my word for it; I've never seen then unroll and count them at all. Only counting machine I've seen used is the dollar bill counter
     
  12. furryfrog02

    furryfrog02 Well-Known Member

    That's how you end up with nickels in quarter rolls...not saying that happened to me a few weeks ago...but I was about 20 quarters shy of what I should've had. Part of the game we play...I did find 3 "W"s in those CWRs so it made up for the shortage.
     
  13. Collecting Nut

    Collecting Nut Borderline Hoarder

    I don’t have this problem as my bank accepts rolled coins from customers.
     
  14. AZSteve

    AZSteve Supporter! Supporter

    My C.U. doesn't have a counter, and they require all coin deposits to be rolled if they are a roll quantity. All rolls I deposit are both counted and weighed. When I get rolls, some are CWR, some are BWR.
     
  15. YankeeDime

    YankeeDime non-conformant

    I've never counted my change before using one. I just fill a 5 gallon water cooler jug about half full of random change and try not to have a heart attack while I dump it in, lol
     
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