Question.

[Marino13]

How much of a cut does coinstar take from a coin dump? Is it worth it to buy a box of half dollars and let the machine sift the silver or am I dreaming? Seems in theory it would save a lot of time. I'm sure I'm not the first to think of this.

 

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[blueberra]

How much of a cut does coinstar take from a coin dump? Is it worth it to buy a box of half dollars and let the machine sift the silver or am I dreaming? Seems in theory it would save a lot of time. I'm sure I'm not the first to think of this.

Around Massachusetts, I believe it's about 9% but if you opt for store credit at the supermarket, there is no fee. I guess having a $500 chit for Stop & Shop is OK if you know you'll use it, but if you plan to utilize this strategy regularly, that's a lot of groceries.

So if you're good losing $45 to have Coinstar do your bidding, have at it.

I saw a coin machine (not Coinstar) at Wegman's (mega grocery store in the Northeast) that took an 11.9% bite.

Find a bank (credit union is a good choice) with a coin machine, open an account, and dump you halves for free.

 

[Trezurehunter]

The coin star cut around my area is 10 %. I don't know about you, but if you buy a $1000 box, I wouldn't pay coin star $100 to sort it for me. (That's assuming you don't find any silvers and have to recycle the whole box).

 

[galenrog]

Coinstar, depending on the specific contract with the cooperating merchant, charges between 9% and 15% for a cash ticket.

I use coin counters at local credit unions with which I have accounts, as long as no fees are involved.

In my opinion, people who opt for cash tickets at Coinstar machines come, predominantly, from one or more of five categories: 1, naive. 2, foolish. 3, stupid. 4, desperate. 5, criminal.

Opting for a merchant card at no cost is an entirely different matter.

 

[Blewfur]

My credit union charged me 5% today. Still better than Coinstar. I would only get a gift card if I would use it in the near future.

 

[jrf30]

How much of a cut does coinstar take from a coin dump? Is it worth it to buy a box of half dollars and let the machine sift the silver or am I dreaming? Seems in theory it would save a lot of time. I'm sure I'm not the first to think of this.

I'd roll them myself while watching TV before I'd pay that for a machine to sort them. Takes the profit away from you.

 

[Gare]

In a BRAND NEW UNOPENED box of pennies could there be any valuable coins ?

 

[CRHer700]

I have a bank with free machine use if you are a customer, but it doesn't kick out silver.

 

[Blewfur]

I have a bank with free machine use if you are a customer, but it doesn't kick out silver.

The sign said it was a 5% charge, but since I deposited the money in my account at that institution, they may have waived the fee. The receipt didn’t state either way, but if my memory and math are right, the difference was less than fifty cents.

 

[blueberra]

How much of a cut does coinstar take from a coin dump? Is it worth it to buy a box of half dollars and let the machine sift the silver or am I dreaming? Seems in theory it would save a lot of time. I'm sure I'm not the first to think of this.

I just got back from a trip to Virginia, South Carolina, and North Carolina.

I checked out the coinstar and other coin machines at several grocery stores.

Most of them took quite a bite. See attached picture for a typical fee.

Note that they take a small amount off the top and then a piece of the action.

 

[ConceptualizedNetherlandr]

In a BRAND NEW UNOPENED box of pennies could there be any valuable coins ?

Absolutely.

 

[Rosco53]

Seems this would take the fun outta it, no? Thrill of the search, noticing that coin others didnt... Depends on what you're in it for, I guess.