Coinstar: Friend or Foe

I don't think most people hoard them so much as they just end up with accumulations. Whether you spend it or take it to the bank, I don't see much difference really. I usually only keep mine a month and then roll it and take it to the bank. Most of my change comes from vending machines anyhow, as I rarely use money for any purchases.
Guy~

 

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Thats what I do. When I get 5 rolls of dimes or quarters I take em to the bank. Its not so, but its almost like getting a small bonus...

 

It's well worth rolling up quaters and dimes. Cents on the other day, debateable.

 

Exactly

 

Check out coinstar.com. Coinstar offers the "no-fee" option to convert your coins to an eCertificate or gift card, at no fee! The $20 in pennies you have can be used for an Amazon.com eCert, iTunes eCert, Starbucks gift card, etc.

Not all machines have the option as it is the decision of the grocery store chain to decide whether or not they want the machine to offer additional features other than just coin counting at 9.8%

Personally, I converted to using cash for my daily purchases and use the coins as a psuedo savings account. It's come in great when I'd like to pay for a gift when shopping at Amazon.com, for the holidays.

 

My bank counts for free so I take them there. I do check the coin star slots and sometimes find a silver or a few foreign coins.

 

You make a good point! Coinstar also has kiosks in some banks, but not as many as grocery stores. Usually, if you're a customer of the bank, they will allow you to use Coinstar to count the coins for no fee then you can deposit the coins into your bank account!

If you're not a customer the bank can choose what fee to charge the customer. If that option is chosen the teller will usually waive the transaction fee IF you would open an account at that bank.

It can be very costly (maintenance costs, time away from other customers, etc.) for a bank to offer their own "in-house" coin counting. Also, there can be huge savings for the bank if they choose Coinstar because it limits the possibility of claims from employees who may injure themselves carrying their "in-house" bag of coins from their own machine. You'd be surprised how heavy those full bags of coin are.

 

No, I would not be surprised, my father had accumulated over 6k worth of state quarters, I put them in some five gallon buckets, and I had no fear that anyone would pick them up and run away with them.

 

My bank only does it on Tuesday and Thursday in the morning. Ice

 

It's amazing how many posters who respond to a thread like this who never read the posts.

Hey, listen up you non-readers. Coinstar DOES NOT charge a fee if you choose one of the gift certificates. That makes it NOT a ripoff if you choose that option. Of course if you are hard up for cash and need the money for that Happy Meal right away, go to your bank.

 

OK ahearn, now you listen up, at least two posts in this thread have reported that not every coinstar offers the gift certificate option. You have to know what coinstar machine you are using and what options are available on it.