Coinstar Question

[blueberra]

Does anyone out there know what Coinstar does with the coins? Do they deliver them in bags to Loomis, Brinks, etc. or do they machine roll them themselves and send them to stores that house Coinstar machines or maybe to other retail establishments (or , for that matter, to banks)?

Since we're all aware that Coinstar machines reject silver, if the Coinstar coins just end up mixed in with non-Coinstar coins from banks at Loomis / Brinks, then it would dilute the expected silver we see when we order boxes of coins.

If, however, Coinstar is not doing business with Loomis / Brinks, then my original question remains -- what do they do with the coins?

 

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[vpnavy]

I searched Google and found a few "answers" but nothing definitive.

"...coins are sold back to retailers which they use to fill their cash registers..."

"...coins are sold back to banks, etc..."

"...shipped off to customers such as banks, stores, supermarkets, etc..."

 

[srcdco]

A few years ago, I talked to a Coinstar repair person at the local Wal-Mart. The motor had burned out, so the tumbler no longer tumbled.
He not only showed me how the machine works, but also mentioned that (at least in the Rochester, NY area) Loomis gets all the coin to process. There are two large bins inside and the coins are all mixed together. When one bin fills up, it switches to the other one. When both are full, it calls home for a bin change.
He also showed me the internal reject cup and said that the employees keep what's in there. He emptied it into a bag and took it with him. He wouldn't let me even buy the three Eisenhower dollars that were in it.

Scott

 

[blueberra]

A few years ago, I talked to a Coinstar repair person at the local Wal-Mart. The motor had burned out, so the tumbler no longer tumbled.
He not only showed me how the machine works, but also mentioned that (at least in the Rochester, NY area) Loomis gets all the coin to process. There are two large bins inside and the coins are all mixed together. When one bin fills up, it switches to the other one. When both are full, it calls home for a bin change.
He also showed me the internal reject cup and said that the employees keep what's in there. He emptied it into a bag and took it with him. He wouldn't let me even buy the three Eisenhower dollars that were in it.

Scott

Thanks -- not the answer I wanted to hear, but it does make sense.

So Loomis must have its own giant coin machine that takes these mixed bags of Coinstar coins and sorts them by denomination into bags which then go along with the full bags that come from bank coin machines to produce machine wrapped rolls and boxes of coins.

I' would guess there is roll wrapping machine for each denomination.

 

[Back-of-the-boat]

I have seen a money truck picking up the bins, I don't remember what company it was, it could have been Loomis or Brinks I don't remember.