Coin Counting Machines Still Exist: Which Banks Have Them? | MyBankTracker

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 entirely gone.

We have identified a handful of banks still offering this service, although there may be a small fee .
In that event, 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 national banks nobelium long provide coin-counting machines to customers or to non-customers .
The cause :
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 populace are local community banks and credit unions ( much 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

Banks Accept Coins Deposits in Coin Wrappers

After reaching out to all the banks, we found that every individual 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 wrap 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 fortune of coins, it could be a time-consuming job to stuff them into the wrappers .
once you ’ ve rolled the coins, just bring them to the bank for deposition or exchange. For customers of the bank, it is rid .
For non-customers, it ’ mho not as simple — read below :

Exchange Coins For Free At Banks

Although every bank will give out free mint wrappers, not every bank will accept your wheel coins if you are a non-customer .
Chase Bank happens to have rather generous policies for non-customers, who can exchange up to $ 200 in coins deoxyadenosine monophosphate long as they ’ re in coin wrappers .
If you ’ ve got more than $ 200 in coins, there ’ s a simple flim-flam : fair visit 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 mint, according to an annual reputation by the U.S. Mint. The high gear cost of penny production has led many people to advocate phasing out the coin denomination.

While Chase will happily accept your coins, early 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 coin exchange if the coins were wrapped and for a modest total between $ 10 to $ 20 .
again, you can use the same whoremaster here by going to multiple bank branches .
If you have hundreds of dollars in coins, be prepared to make trips to many different banks .
differently, your other option would be to just open an report with a deposit that has a coin count 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:

• cash
• electronic gift codes to use with popular retailers
• charitable donations

Coinstar kiosks can be found most often 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 good 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 tip ) .
The best part :
occasionally, Coinstar run promotions where you may receive bonus citation when you turn in a certain measure of coins at once .

How it works

1. 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.
2. Select the exchange option that you prefer.
3. 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

The best cash-out choice to avoid losing a significant of money to fees is the electronic gift code or charitable donations .

Coinstar Redemption

Stores with Coin Counter Machines

quite 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 or supermarket .
With cash transactions happening all the meter, it makes sense that these machines are readily available at these stores .
Note: Every single shop, even if it ‘s under the lapp chain, may not have a machine. If you’re thinking about making the slip, we suggest calling the store first .

Stores With Coinstar Coin Counter Machines

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