Is Coin Wrapping THAT difficult?

[DawnCt1]

I returned Diet Coke cans to Stop and Shop yesterday, and there was a line....at the Coin Star machine. This is the machine that you dump your coins into and it gives you back bills. The cost of this, just glancing at the machine seems to be 10%. Dump a $100 worth of coins into it, it keeps $10. I thought that was the point of saving coins; to save money. I always wrap my own coins. A quart at a time, rarely takes more than 30 minutes and can be done watching tv, etc. The wrappers are free from the bank. Why do people 'pay' for this? Do you?

 

[bigbabyblues]

We don't pay for it. Our bank has a machine that sorts and counts change for you, and it's free if you have an account there.

 

[Tikitoi]

I returned Diet Coke cans to Stop and Shop yesterday, and there was a line....at the Coin Star machine. This is the machine that you dump your coins into and it gives you back bills. The cost of this, just glancing at the machine seems to be 10%. Dump a $100 worth of coins into it, it keeps $10. I thought that was the point of saving coins; to save money. I always wrap my own coins. A quart at a time, rarely takes more than 30 minutes and can be done watching tv, etc. The wrappers are free from the bank. Why do people 'pay' for this? Do you?

But I would never pay for this type of service. And I've been noticing on the TV shopping networks where they sell these containers that count the coins for you. I would never buy those either. I think it's good to know how to count money and you still have to wrap them.

 

[SueInBoston]

I use coinstar for Amazon gift card. There is no service charge when you get gift cards. Recently (may still be available) you can exchange $40 worth of coins for Amazon GC and get extra $10 GC.

 

[Kath2003]

The only one I've used gave that 10% to a charity.

 

[jackskellingtonsgirl]

Our bank USED to accept bulk coin deposits. They don't anymore, and if you deposit rolled coin they charge to verify it. Just as easy to go to CoinStar and get it done immediately instead of messing with the bank.
And like a PP said, there is no service fee on gift cards.

 

[disney junky]

Coinstar also contributes a portion to charity.

 

[Pooh's Pixie]

I agree, it isn't hard to count. However, I recently had my husband clean out a bureau drawer that he always dumped his change into...for years. He gave me a container of coins like you wouldn't believe. I took it to Coinstar 'cause I didn't feel like wrapping it. It was $208 after they took their cut. My reasoning: it was FOUND money in my house. If I hadn't taken it, it would have likely sat in another drawer for a while. So, it was worth it to me.

 

[SHAYMARAYSMOM]

we go to our bank. The machine they have is free.
But to each his own

 

[MushyMushy]

I use it because I like the gift cards you can get without the fee! I think at ours you can get Amazon or Starbucks. For as much as I order from Amazon anyway, it's nice.

 

[Mom2Satan&Daisy]

yes

 

[Mouse House Mama]

Most banks will only accept so many rolls at once with no charge. Even if you are depoaiting them in your own account. It is so ridiculous.

 

[JaxJags08]

I only use Coinstar for pennies; I wrap all other coins myself.

 

[Pakey]

Dang, I need new glasses. I thought the thread title was Is Colon Wrapping THAT Difficult?

 

[Pumbaa_]

i agree, i save all mine and bring it down for an Amazon gift card, no fee and i buy there regularly anyway

my bank has the same rules, they do not want our coins it seems

 

[merryweather20]

As other posters have said there are gift card options that don't cost a penny. Around Christmas it is easy to use up gift cards.

You should check the machine too, there are several in my area at grocery stores that don't charge a fee they just give you a tag to take to the check-out for cash back. I don't think these are coinstar though.

Sure beats wrapping coins and standing in line at the bank, to be charged a fee for a coin deposit.

Coin fees aren't a big bank draw for me, I worry more about getting the best return day-to-day on regular services.

 

[Pixiedust34]

I'm too cheap to use the Coinstar machine. I wrap our coins myself, and then I take them to the bank. The whole point of saving pennies is to save pennies.

 

[RitaE]

My bank won't accept rolled coins, so I really don't remember how hard it is to roll them.

There is no service charge for bringing in your coin jar as long as it is under $100. I have a standard jar that I use that always has way less than $100, when it gets close to full I take it in and we all split the money into our savings accounts.

I think our Grocery store coinstar doesn't charge a fee if you apply the money toward groceries. I've never looked at it that closely.

 

[shortbun]

I know, I'm way to cheap to use one of those machines. My in-laws do it once a year and give away $40 or more each time. I keep tellin my MIL, "I'll do it for you and keep the 10%." She laughs. wth?

 

[Kirby]

Our bank will not accept rolled coins either. And they have to be sorted. So now I have my own sorting system at home and take the coins in when the container is full.