I might be trying to start a small business and was wondering about vending machines

Okay, if I sucessfully start a business, I am going to use $2 bills and halves on a regular basis as a gimick to get people interested in them, but I was thinking of also having vending machines there, and I would like them to be able to accept $2s and both accept and dispense halves as needed along with other coins. So, would the vending company I got the machines from, be able to make these vending machines take these two denominations, and dispense halves as needed if I could pay for upgrades? Maybe this would get other people with vending machines interested in retooling for $2 bills and halves as well, if it became popular, and that is the whole goal. The only thing I do not want my vending machines to accept is pennies, because they would build up too quickly. But anyway, I also saw those slots going really cheap on ebay, where you put in either a half, or two quarters, then shove it into the machine then it comes back out without the coins in it, but I for got what they are called anbd can no longer find them on eBay, so can someone tell me what these coin mechanisms are called?

 

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The reason those items do not circulate is because they don't work in vending machimes. And no one customer is going to be able to do the volume needed to make the machines feasable.

 

Yes, but can MY machines be made to accept and dispense them for a price?

 

With money anything is possible. I'm sure they can do that for you, but you most likely will have to pay a few hundred dollars more.

 

Actually I've seen quite a few vending machines that accept 1's, 2's and 5's. Likely if it will accept a 5, it will accept a 2.
Not halves, however.

But some vending machines now accept the dollar coins.

 

zach24: I would not mind paying a few $100 more for my machines to be $2 bill and half compatible. Even if that were the amount per machine, because its not like I'd have a ton of them. Maybe just a couple pop machines. Also, at a bingo hall I used to go to, they had a toy crane that took only $1s and $5s and I tried a $2 and it just spit it back out at me. I've heard rumors about some machines taking $2 as $1s and as $5s. Wish I knew of one of those places that took $2ss as $5s. :devil: Speaking of toy cranes, maybe I should get one of those too and try to get it half and $2 bill compatible.

Yes, but do remember that I am pushing for a "redesigned" $2 so, the machines would likely need an upgrade if I succeed in getting the $2 bill redesigned.

Yes, but according to a letter I once got from NAMA, all that really has to be done, is adding a coin tube for halves. That shouldn't be too hard, but they must also make sure that the machine's faceplate has a big enough slot for halves.

Supposedly ALL machines made after 1979 are supposed to be able to accept the "small" dollar coins (SBA, Sac, Prez) but sometimes, the vendor needs to come out and flip a switch to make the machine able to accept dollar coins. However, most people do not want dollar coins, but I should still stock vending machines with both dollars and halves (if possible) to help the government get the dang dollar coin into circulation.

 

I'm sure any vending company can custom build one for you that will if the price is right. But it most definitely won't come cheap. Another option would be to run a promotion. Free half dollar with all purchases over $x.xx and a free $2 bill with all purchases over $x.xx. You will of course lose money this way. But quite frankly, it's be years and years before you saw the cost of a custom vending machine equal out, as opposed to this sort of option anyway.

 

Well, I' hate to burst your bubble, because I'm not one for negative vibes, but you'd probably be looking at thousands more, for any sort of custom job, as opposed to hundreds. But I could be wrong.

 

We'll know the answer soon... I have emailed a consultant for "Seaga" a vending machine manufacturer.

 

Good. I do hope you can get it at a decent price that you can afford of course. I just didn't want you to get your hopes up terribly.

 

Not me buying the vending machine lol I am not the OP!!!! ROFLMAO

 

Wow, First day on and I actually get to help someone. I worked in the vending industry for 5 years full time and about 6 years part time. Had my own repair business for about 4 of those. Mostly ammusements, PINBALL was my fave- to work on and play. Back to your topic though, here is a web site to check out, http://www.coinco.com/coin/news/couponcraze.asp,
hope the link works. also try google and more will come up. Bill Acceptors are able to accept $2 after programing. The Coin Mechanisms that are manfactured have never taken halves to my knowledge, though i did get a few that i dug out after some stubborn person insisted on jamming into the chute!(my gain!) The common rendition takes two quarters. There was a huge push back in 79 during the SBA release and just prior to push the current $ coin as well. it never took off and we are faced with what we have now millions of coins that no one spends. No doubt the paper company and some lobbiest have allot to do with that( sorry no Politics!) . I spent some time in Germany back in the late 80"s (army) for a few years and the $2 bill was a main staple from the US GI's. Germany also utilized many coins in lieu of paper. They had a 5 mark bill but it was scarce. the coins really caught on over there. Hope I helped! PS- Be careful the vending industry is a difficult one to thrive in and will take you broke at the blink of an eye! there is a hughe amount of overhead and good accounts are hard to come by. GOOD LUCK!
Newer electronic coin mechs in vending/snack/soda/cold food can take $ coins but like stated above some switches need to be turned on.

 

You didn't say what your business is.

I would think that the novelty of 50¢ pieces and $2 bills might get a few more butts in the door, but I'm rather certain it shouldn't be the central focus of a business plan...and I wouldn't spend much money to support it. I've seen claw (toy crane?) machines that pick up plastic balls containing unique items like $2 bills. That might be popular if it's not too difficult to catch one of them slippery things.

Note of Caution: I wouldn't put too much money into one of those machines because it's easy to till it forward and get the balls to fall into the hopper...not that I have any "first hand" knowledge of this!

50¢ pieces are obsolete (don't kill the messager!). $2 bills may become very popular if the $1 bill is withdrawn in support of the $1 coin. Bottomline, there are a lot of macroeconomic factors that influence how people use money and I doubt one merchant will have much affect on that. Now, if you're the only store in some small northern Maine or Yooper Michigan town...it might work.

 

Well, thanks for trying to find out for me. Since some vending machines already take $2 bills, did you ask them about a vending machine that both accepts and dispenses halves as needed? I know most vending machines do not dispense paper money, but they would still have to accept $2 bills and also, dollar coins would be a good idea too except those would be accepted and dispensed, unlike the $2 bill which would just be accepted.

 

I mentioned the price for making a machine that accepts both halves and $2 bills as well as dispences them, yes.

 

It would be like an ice cream shop resturaunt combo.

This is going to sound a bit nuts, but one of the main reasons for me opening this business, is to try to get certain money denominations popular again, and to help me get money to help some of my Congressional issues. I amalso hoping to get into real estate if the business takes off, and try to rent lakefront cottages on a lake near here that rent for anywhere between $700 and $2,000 a week during the summer months. If I get enough money, maybe I could sway Congress into getting on the $200, $500, and possibly $1,000 bandwagon (Not through bribery though. I know bribery is illegal)

I would like to have one of these that "accepts" halves, seeing as most toy cranes cost 50 cents each try anyway. It would make more sense and cut the chances of a coin jamming the machine with just one half versus two quarters.

That sure is something to think about.

Halves are NOT obsolete. (And no, I'm not yelling :smile ) They just have not been utilzed properly. If vending machines and self checkouts accepted and dispensed halves (and $2 bills) they would be a common thing. As the quarter, and $1 bill's purchasing power deterriorates, the half and the $2 bill make sense to be their replacements. I know that the most logical answer is to get rid of both $1 and $2 bills and replace them with $1 and $2 coins (and as much as I hate to say it, even quit making the half IF the dollar coin takes over the $1 bill) But I do believe that there should always be a $2 denomination (and a 50 cent denomination so long as the $1 bill is around) The problem with the dollar coin is, I have talked to many people at the Ferderal Reserve and the Bureau of Engraving and Printing and asked them if the $1 bill was in any danger, and every single one of them replied "NO" and this was over the past six months or so of talking with them, so I think the best obvious setup is to use both $2 bills and halves as regular money. It may not save as much money as dollar coins would, but it would help.


$2 bills may become very popular if the $1 bill is withdrawn in support of the $1 coin. Bottomline, there are a lot of macroeconomic factors that influence how people use money and I doubt one merchant will have much affect on that. Now, if you're the only store in some small northern Maine or Yooper Michigan town...it might work.

 

Well, a big THANK YOU to zach24!!! :hail:

(But, do any vending machines dipense "paper money? I'm not sure. But I know they could at least accept $2s and both accept and dispense halves. Thank you again for checking though.)

 

Probably get you further with those nut-heads.

 

You're saying I would probably get further getting Congressmen to work for me through bribery I take it?

 

Yes, it was a joke, I do not endorse bribery whatsoever. But they are crooks(IMO) who work in politics for money.