A Tower of Coins

RJM62

RJM62

Touchdown! Greaser!
Joined
Jun 15, 2007
Messages
13,157
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Upstate New York
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Geek on the Hill
I have to make my weekly credit union run today (banks and I having parted company years ago), so I thought I'd roll up my loose change. And then I thought I'd build a tower.

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Rich
 
Actually, I'll probably pick up some E-0 mogas while I'm out that way, so it winds up being pretty much the same thing.

Rich
 
Will they even take rolled coins anymore? Our CU gives us a clear bag to dump all change into, then sends it off to be counted. Shows up in our account a few days later.
 
kjwalker01 said:
Will they even take rolled coins anymore? Our CU gives us a clear bag to dump all change into, then sends it off to be counted. Shows up in our account a few days later.
Click to expand...

Mine will take them. But I have multiple accounts there, two of which are business accounts. Maybe that's why.

Rich
 
We do the change once a year. Last time we have around $200. Didn't make a pile out of it but it would have been tall.
 
I probably have $600-$700 in change at the house. I'm too lazy to roll it up.
 
Wife: What should we do with all this change laying around?

Me: Here, why don't we put it in this? *fetches an empty whey protein tub*

Wife: Great idea! *dropping in all loose change, it barely covers the bottom*

Wife: What should we do with it, when we cash it in?

Me: How about a Hawaii vacation? Let's call it the Hawaii Jar!

Next time I went to drop some coins in the Hawaii Jar, I found five $20 bills there. I guess someone wants to go back to Hawaii real bad... :rofl:
 
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My credit union has a coin machine that you just dump them into. It counts them; then you take the slip to a teller.
 
Norman said:
My credit union has a coin machine that you just dump them into. It counts them; then you take the slip to a teller.
Click to expand...

I just asked today and found out that if I want, I can just put all the coins in any suitable container, bring them in, and the CU will count them with the machine and deposit them in any of my accounts. But they'll also accept counted and rolled coins for either cash or deposit as long as a member's account number is on the wrapper. If they're off one way or the other, they apply the correction to the account.

I'll probably keep rolling them. Mindless tasks are nice one in a while.

Rich
 
I remember when full service banks where actually full service,and would take your coins and count and deposit them. Now you go into a supermarket,and use the machine,they charge you 10% to count it. Some credit unions have now adopted that policy ,stating the charge gos to a charity.
 
Norman said:
My credit union has a coin machine that you just dump them into. It counts them; then you take the slip to a teller.
Click to expand...

My old bank took rolled coins. Then I changed to a credit union, they took them for a while then started charging 5%, so I went back to the bank.

Now I've moved, so went back to the local credit union. Now I just carry in a baggie full of coins and dump them a little at a time into their machine, which patiently counts them and gives me a receipt to take to a teller.

Much nicer! :yes:
 
But if you live in the north country, the machines spit Canadian coins back at you. Damned things are too smart. :mad2:
 
Norman said:
My credit union has a coin machine that you just dump them into. It counts them; then you take the slip to a teller.
Click to expand...

My bank has one of those in the lobby. Good luck trying to get it to take Canadian pennies.
 
My credit union charges for the coin counting machine, unless you are a kid. So I bring my daughter. Yeah I give her a cut, better she gets it then the credit union.
 
Thought the post title was referring to a new Game of Thrones book :)
 
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ClimbnSink said:
My credit union charges for the coin counting machine, unless you are a kid. So I bring my daughter. Yeah I give her a cut, better she gets it then the credit union.
Click to expand...

I've never heard of a credit union charging its own members to accept coins. That's the kind of thing I'd raise a stink about at a members meeting.

My old credit union in Queens charged non-members for coin-counting, but not members. The one I have now apparently won't take coins from non-members at all (because a member's account number must be on the wrapper, just in case the count is off), but they don't charge a fee.

Even TD Bank (the only bank I know with coin counters in every branch) doesn't charge a fee for their depositors. Once in a while I use their machines if I'm going to be near one of their branches. I give them my parents' account number and tell them that I'm running an errand for them. They've never raised an eyebrow.

Rich
 
Looks like Google finally paid you for the ads... :D
 
steingar said:
We do the change once a year. Last time we have around $200. Didn't make a pile out of it but it would have been tall.
Click to expand...

For the fist twenty years of our marriage, we always put al change in a big bottle, every night,

On our twentieth anniversary we opened and counted it all.

$ 3940.45

I was amazed.
 
Accepting coins is a PIA for the tellers. I was a teller at a Mellon Bank branch for a summer. We had to lug the coins back to the coin counter and run 'em thru. Ugh.

And accepting home-rolled coins? FU, unless you put your account number on each roll. I had some dude try to silip a roll of dimes past me that was probably only 2/3 full. He dropped off a couple rolls of mixed coins, so I didn't notice right away, but I made sure I had his account number. Big deal? Well, when you get rated by how many $ off you are when you close the till every night, it matters.

Plus, he was one of our less-pleasant customers. It gave me no small amount of pleasure to deduct the $1.50 or so from his account to square my books!
 
RJM62 said:
I've never heard of a credit union charging its own members to accept coins. That's the kind of thing I'd raise a stink about at a members meeting.

My old credit union in Queens charged non-members for coin-counting, but not members. The one I have now apparently won't take coins from non-members at all (because a member's account number must be on the wrapper, just in case the count is off), but they don't charge a fee.

Even TD Bank (the only bank I know with coin counters in every branch) doesn't charge a fee for their depositors. Once in a while I use their machines if I'm going to be near one of their branches. I give them my parents' account number and tell them that I'm running an errand for them. They've never raised an eyebrow.

Rich
Click to expand...


Agreed. Charging members is wrong.

My CU did a smart thing. They installed a CoinStar machine. They cover the costs of counting for the members via some deal with CoinStar, CoinStar gets a new location, and non-members pay the fees the machines usually require, and the CU only has to provide a nook and power and CoinStar deals with all the maintenance headaches. Win/win for the two businesses and also for members and non-members.

Their only requirement is that you deposit it to one of your accounts to show you're a member. This also has the added minor benefit for them of raising their average daily deposits a tiny bit over all branches, since all banks lend on average deposits, and many people (like me) just leave it in the account anyway. If you need the cash, you're allowed to make an immediate withdrawal. They're just playing the odds that you'll leave it on deposit.

Really it's a great setup. Costs the membership nothing in overhead, and nearly every branch has a CoinStar machine.
 
I had four or five cat litter buckets of loose change that I spent an entire morning on the Coinstar machine turning it into about $400 of Amazon gift cards (they don't take a commission on those...at least not from me).
 
Norman said:
My credit union has a coin machine that you just dump them into. It counts them; then you take the slip to a teller.
Click to expand...

Most places I have used in the last few years did this. Just dump it all in the machine and it gives you a receipt.
 
RJM62 said:
I've never heard of a credit union charging its own members to accept coins. That's the kind of thing I'd raise a stink about at a members meeting.

My old credit union in Queens charged non-members for coin-counting, but not members. The one I have now apparently won't take coins from non-members at all (because a member's account number must be on the wrapper, just in case the count is off), but they don't charge a fee.

Even TD Bank (the only bank I know with coin counters in every branch) doesn't charge a fee for their depositors. Once in a while I use their machines if I'm going to be near one of their branches. I give them my parents' account number and tell them that I'm running an errand for them. They've never raised an eyebrow.

Rich
Click to expand...

No bank I have been an account holder with ever charged me to use the machine. One time at the car lot a kid and dad came in with bags of coins to buy the kid's first car. The bank sent down a van with a machine in it gratis even. Banks do compete with service to retain business.
 
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