Remember the days you could take your piggy bank full of coins to the local savings institution and have them counted out for crisp bills or deposit.
Sometimes those coins could add up to hundreds of dollars – with annual amounts rivaling cash rewards from the cash back credit cards.
fortunately, those days are n’t wholly gone.
We have identified a handful of banks still offering this military service, although there may be a little fee .
In that case, we besides show you other ways to convert your coins for free .
Which Banks Have Coin Counters?
Chase, Bank of America, Citibank, Capital One, PNC Bank, TD Bank, BB & T and other major home banks nobelium long provide coin-counting machines to customers or to non-customers .
The reason :
The big banks claim that these machines cost more to maintain than the value that is delivered to customers .
The fiscal institutions that are most likely to operate coin-counting machines for the public are local anesthetic community banks and credit unions ( frequently known for providing better personal customer service ) .
additionally, you might need to be a customer in order to use these machines .
differently, expect to pay a little fee for using the service as a non-customer .
What Banks Have Free Coin Counting Machines
|Home State Bank||Free||10% fee|
|First County Bank||Free||–|
|Shelby Savings Bank||Free||–|
|Hancock County Savings Bank||Free||–|
|Republic Bank (NJ/PA)||Free||Free|
|People’s United Bank||Free||11% fee|
|American Eagle Federal Credit Union||Free||Free|
|Westerra Credit Union||Free||–|
|Bank of America||No Counters|
|Capital One||No Counters|
|TD Bank||No Counters|
|PNC Bank||No Counters|
Banks Accept Coins Deposits in Coin Wrappers
After reaching out to all the banks, we found that every single one of them will provide coin wrappers for free, careless of whether or not you are a customer .
Coin wrappers are newspaper wrappers that come color-coded for different coin denominations .
Each wrapping is used to roll 40 to 50 coins in denominations of 25 cents or less. Wrappers do exist for 50-cent and one-dollar coins .
Be sure to check your quarters to see if they were made in 1964 or earlier. Prior to 1965, U.S. quarters were made of 90 percent silver, which makes them worth significantly more than the $0.25 value.
If you ’ ve got a set of coins, it could be a time-consuming tax to stuff them into the wrappers .
once you ’ ve rolled the coins, equitable bring them to the bank for deposit or switch over. For customers of the bank, it is detached .
For non-customers, it ’ south not as elementary — read below :
Exchange Coins For Free At Banks
Although every bank will give out barren mint wrappers, not every bank will accept your roll coins if you are a non-customer .
Chase Bank happens to have quite generous policies for non-customers, who can exchange up to $ 200 in coins american samoa long as they ’ re in coin wrappers .
If you ’ ve got more than $ 200 in coins, there ’ s a simple trick : just chew the fat multiple Chase branches .
Did you know ? It costs more than a penny to produce a penny. In 2021, it cost $ 0.0210 to produce one $ 0.01 coin, according to an annual report by the U.S. Mint. The high cost of penny production has led many people to advocate phasing out the coin denomination.
While Chase will happily accept your coins, other banks I contacted will not .
Most of them have a policy of not converting coins to bills for non-customers .
In actuality, however, tellers would perform the mint exchange if the coins were wrapped and for a minor amount between $ 10 to $ 20 .
again, you can use the lapp trick here by going to multiple savings bank branches .
If you have hundreds of dollars in coins, be prepared to make trips to many different banks .
otherwise, your early option would be to equitable open an score with a bank that has a coin reckon machine — not precisely the best choice I must say .
Coin-Counting Alternatives With Coinstar & Other Stores
Coinstar Coin Counting Kiosk
Coinstar is a company that offers kiosks for counting coins. You can turn the coins into:
- electronic gift codes to use with popular retailers
- charitable donations
Coinstar kiosks can be found most frequently in major U.S. supermarkets .
Generally, Coinstar charges a fee of 11.9% if you want the coins converted to bills (the fee can actually vary depending on location). If you fair want cash from your coins, banks are the cheaper choice .
But, as mentioned above, if you convert those coins into branded gift cards through Coinstar, it is completely free ( see other ways to avoid Coinstar ’ s fee ) .
The best depart :
occasionally, Coinstar run promotions where you may receive bonus credit when you turn in a sealed total of coins at once .
How it works
- You can bring your coins without having to have them sorted or wrapped. They simply have to be free of dirt, debris, and other obstructions that could block the machine from accepting the coins.
- Select the exchange option that you prefer.
- For cash, you’ll get a paper voucher that you bring to the cashier. For the electronic gift code, it will be printed on your receipt. For donations, you’ll receive a receipt of your donation for tax purposes.
Gift Cards & Participating Charities Through Coinstar
|Branded eGift cards||Participating charities|
|AMC||American Red Cross|
|Amazon.com||Children’s Miracle Network Hospitals|
|Chili’s Grill & Bar||The Humane Society of the United States|
|GameStop||World Wildlife Foundation|
|The Home Depot|
The best cash-out choice to avoid losing a meaning of money to fees is the electronic endow code or charitable donations .
|Coin exchange option||Fee||How it works|
|Cash voucher||11.9% (fees can vary by location)||Turn in the cash voucher to a cashier|
|eGift Card||None||Gift code is printed on the receipt|
|Charitable donation||None||Donation is automatically made — with a receipt for tax purposes|
Stores with Coin Counter Machines
preferably than going to the bank, you might run into a coin-counting machine at one of the places to visit the most : a grocery store shop or supermarket .
With cash transactions happening all the clock time, it makes common sense that these machines are readily available at these stores .
Note: Every individual shop, even if it ‘s under the same chain, may not have a car. If you ‘re thinking about making the trip, we suggest calling the store first .
Stores With Coinstar Coin Counter Machines
|Food 4 Less|
|The Food Emporium|
Frustrated with your bank?
Check out these modern top banks that people are talking about :
Category : Coin
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