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Give Yourself a Second Payday With Coins

I know everyone is aware of the Coinstar machines in nearly every grocery store, and everyone is aware that saving coins can add up, but are you aware that you can painlessly have enough money to pay your rent after a mere two years or more?

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We recently did this. We had a huge, heavy jar of coins that we had been collecting since 2013. When we recently moved last November, the money available was enough to cover the first month's rent, and moving costs.

You save even more money if you roll your own coins and take them to the bank teller, but we have found that the opportunity cost of roll-your-own is not worth the 8% surcharge that the Coinstar machine takes.

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Anonymous Flag
January 24, 20171 found this helpful

My husband who recently passed away use to save all of his change when he came home from work in jars, cans...whatever was available. Last year was our first year without him for Thanksgiving and just couldn't do the traditional dinner so my daughter and her family went to the ocean for the weekend. I paid for the trip with one of the many cans of coins he had saved. I am sure he would be pleased we used them this way.

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January 25, 20171 found this helpful

that's a wonderful story, and I am deeply sorry for your loss.

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January 28, 20170 found this helpful

I have never heard of Coinstar machines. Can you please explain them to me? Thank you.

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January 28, 20170 found this helpful

They are a machine inside a store, usually a grocery store, you dump in your change, it counts it and I think spits out a voucher for the amount minus the fee it charges and I think you cash it in the store.....I have one in the grocery store I work at but have never paid much attention to it, but I think that is how it works.

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February 2, 20170 found this helpful

yes, you get a voucher then you go to the cash register or customer service and they give you cash for what it says on the voucher

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Anonymous Flag
January 28, 20170 found this helpful

Some banks will run your jar of change thru their change counter for free, beats the coinstar fee.

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January 30, 20170 found this helpful

I had no idea!!!!! every bank i knew required I have them rolled up. What bank was it, wells fargo type one or more like a local credit union? WIll totally do that next time

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January 31, 20170 found this helpful

My credit union used to have a coin machine in their lobby. I think it is has been moved to a different branch. I have also heard that you can get Amazon or other gift cards from the Coinstar machine and they will give you the full amount of your change if you do this instead of asking for cash.

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February 2, 20170 found this helpful

i tried that once and would you believe the gift card was defective? I was able to get my $ back after some wrangling but now am gunshy about it

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January 31, 20170 found this helpful

This sounds like a fun way to save for a child's birthday - just let them see the jar getting "fuller" on each visit until their birthday and then take them to the bank to count their cash.

One bank I use is TD Bank and they have a free coin counting machine in their lobby.

Now - I just have to find a good size bottle to get started...

Thanks for the idea.

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February 5, 20170 found this helpful

wow next time i'll see if the TD bank will do that for me, thanks :D

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