Is Coin Wrapping THAT difficult?

[claudia]

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.

same for us

 

[Mickeyluver37]

Well, I personally do think that coin wrapping is a pain. Your hands get all nasty and smell like money. Now with that said, I would never pay for Coinstar! My bank has the same machine in the lobby- you just throw your change in and take your slip to the teller window. They would rather you NOT bring in rolled coins. If you do that, your deposit doesn't go in until later that day or the next day when it's all been verified. And you have to write your name and number on Every. Single. Roll. So while it may not be difficult, it's still tedious.

 

[TinklednPants]

I NEVER pay for anything with change. I always break a bill and empty my pockets daily. I collect my coins (SILVER ONLY) in one of those 5 gallon water cooler jugs. When full it's over 4 thousand. I've taken two cruises on coins and NO I will not roll that amount by hand.

 

[MushyMushy]

I certainly hope my bank does not accept rolled coins. How do they verify what is inside the rolls? Do they pay someone to unroll them?

Couldn't they weigh them? Are the same denomination of coins the same weight?

 

[bumbershoot]

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?

My thinking exactly. Our bank accepts rolled coins.

Dawn, you are lucky, as are all the people who have banks that accept coins for free or have machines.

My banks charge 10% unless you bring in maybe one roll at a time. Yawn.

Coinstar, IF you choose the cash out option, only charges something like 9%, or at least that is what it was when I used it.

However, I cashed out for an amazon certificate, and we specifically got that b/c we were ordering stuff for a camping trip, and there was no fee. Worked *perfectly* for that.


Perhaps next time you see a line-up, you could tell them exactly what bank you use, so IF they are cashing out for cash, they could go there instead! Would be helpful; I would LOVE to find a bank around here that accepts coins without charging for it!

 

[PaulaSue]

Commerce Bank (?) counts them for free and you don't even have to be a customer.

 

[disneyfav4ever]

I never use Coinstar. I go to Commerce since they have the same type of machine, but theirs is free.

 

[allison443]

Our bank is Commerce Bank which recently became TD bank...they have a coin counting machine in the lobby, you take the receipt to the teller and get cash.. The last time I was there a woman was on line to use the machine and asked the staff if she could use it even without having an account there. They said she could.

As for people who use coinstar, it's a convenience for which they are happy to pay a convenience fee. It's like anything else that people pay for, that they could do themselves if they were so inclined. I will say that sometimes I see people using coinstar at the supermarket late at night (when all banks would be closed) and think maybe they really need that cash right then! So it works out well for them.

 

[RitaZ.]

Yes, we've paid the fee and will continue to pay it. DH doesn't like to have loose change in his pockets. He keeps a large jar at work and one at home. Right now, the jar here is full. It's a matter of what's more important to us. The value of my time and the gas used to drive to the bank or not paying the service fee. We go to the grocery store on a regular basis. Our bank is 20 to 25 minutes away. Add the amount of time that it takes to roll $200+ worth of change, the amount of time that it takes to drive to the bank and back, and the gas used to get there. The choice is clear!

 

[Handbag Lady]

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.

This is what we do.

Then, we tuck the receipt for the "gift card" into my sister's Christmas card or whatever. And she does the same for us. DH got $45.61 of iTunes for his birthday.

 

[MichelleVW]

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?

I hate the way it smells and it's way easier to just drop it in the Coin Star machine and be done with it. I am paying for convenience.....doesn't bother me.

I love coinstar! Rolling coins is a dirty job, sometimes the wrappers come apart, it is time consuming, and the last time I did it the bank wanted me to write me name and address on each roll! Forget about that. I think it is great, especially for those with limited time.

Exactly, I would much rather be done with it than roll coins....

 

[ClarabelleCowFan]

We don't have a brick and mortar bank here locally - we use USAA in Texas and we are in Maryland.

We save change trips for our Disney trips and the only way to cash that in is with a coin counting machine like Coinstar.

We aren't opposed to wrapping coins but we don't have another option.

 

[olena]

I wrap and count all my coins. That's MY money and Coin Star doesn't need it.

 

[Laugh O. Grams]

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.

My bank's the same.

As far as I'm concerned, those Coinstar machines and their high percentage rate vigs prey on the same people who take their paycheck to check cashing stores...typically people who can't get bank accounts or live paycheck to paycheck. IMO, the whole lot of 'em (check cashing stores, Coinstar, liquor stores who cash checks, etc.) are grave robbers.

 

[GaSleepingBeautyFan]

I usually do Coin Star now.

Our bank no longer has the wrappers so I'd have to find somewhere to buy them.

They do accept them but require that you write your name and account number on the rolled coin packages so they can adjust your account if you've counted incorrectly.

Sometimes I choose the gift cards from Coinstar, other times I just want the cash.

 

[OrlandoMike]

My time is worth more than to sit on the floor and wrap disgusting dirty coins! You figure it takes an hour to roll about $100 worth of coins, you drop the coins in coinstar, they take $8.00 off the top, that is $8 an hour! Sorry, its just too easy!

 

[DancingBear]

We don't have a brick and mortar bank here locally - we use USAA in Texas and we are in Maryland.

We save change trips for our Disney trips and the only way to cash that in is with a coin counting machine like Coinstar.

We aren't opposed to wrapping coins but we don't have another option.

Don't know where you are in MD but Chevy Chase Bank has a free machine even if you aren't a customer. And according to this thread so does TD Bank (formerly Commerce). Both have a lot of branches around these parts.

 

[ClarabelleCowFan]

Don't know where you are in MD but Chevy Chase Bank has a free machine even if you aren't a customer. And according to this thread so does TD Bank (formerly Commerce). Both have a lot of branches around these parts.

Good to know. We are in Harford County and don't have a Chevy Chase bank nearby but there is a new TD bank in town. I'll check that out. Thanks!

 

[ReneeA]

I rolled a ton of change for our last WDW trip. Then I took it to the bank and they made me unroll it all and dump it in their change counter. They then charged me 5% on top of it.

Wish I hadn't spent so much time counting and sorting, although the kiddos had tons of fun with it.

 

[bumbershoot]

I wrap and count all my coins. That's MY money and Coin Star doesn't need it.

My bank's the same.

As far as I'm concerned, those Coinstar machines and their high percentage rate ...

Seriously, aren't you guys noticing that there are gift card options at coinstar where NO percentage is taken off?

And there are banks that charge MORE than coinstar?


AGain, it's GREAT that there are banks that don't charge, but I don't know of any around here. No Commerce BAnk, no Chevy Chase, just banks that want a percent MORE than coinstar, unless you choose to bring in the coins ONE roll at a time.