Treasuring The Journey

Treasuring the journey through life, one footstep at a time.

Monday’s Money Saving Tip – Save your Coins November 15, 2010

Filed under: Money-Saving Tips — Treasuring The Journey @ 11:09 AM
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Hello Everyone,

Today I am linking up to Homebody, which is one of the blogs that I follow and read almost daily. Holly is featuring a Monday link party special entitled “Monday’s Money-Saving Tips” and I decided I wanted to link up to this party and share one of my money-saving tips.

My money-saving tip is to save your coins. I normally don’t carry a lot of cash so I instead scavenge for my husband’s spare change, check the pockets in the laundry, pick up coins on the sidewalk, etc. πŸ™‚ Ever since I was a kid I have been a scavenger of coins. I used to roll my Dad’s change and loved to play with the money. The desire to collect change has not changed for me over the years and now I have a container that counts the coins as I insert them, but it is not always the most accurate count since I raid it when I go to yard-sales.  Moving on….to the entire point of this post.

I had seen in my local grocery store the green coin counting machines and had checked them out previously and had opted to not use their service since they have a processing fee of $.098 per dollar counted. Basically for every dollar the machine counted, the company got to keep a dime. I know it is not much for a fee, but I did not want to pay it. A few weeks back my coin container was almost full and I really did not want to roll all the coins. My bank, which will remain undisclosed, requires the coins be rolled. I used to be a member of a credit union that did not require rolling and they would do all the counting for you in their machines for free, so that was a good benefit, but no longer available for me. I decided to check out Coinstar again and see what my options were.

As I reviewed the site, I noticed “Free Coin Counting and proceeded to learn more. I found out if you choose to receive a gift certificate to a sponsoring company then the processing fee is waived and your coins are counted for FREE! Some of the sponsoring companies include: Amazon, Lowe’s, iTunes, JCPenney, Old Navy, Starbuck’s, Overstock.com, CSV, among others. WOO HOO!

I decided that day to check out this Free Coin Counting claim and to see how complicated the process was. My local grocery store has the Coinstar machine. I took my container of coins that had to weigh at least 10 pounds. The process of loading the coins was easy, I would recommend to put some of your coins on at a time, not all of them, as I experienced a bit of a snag and overloaded the machine.

For a quick demo of the process, click here. The machine does its counting magic and once it is done it asks you how you want your money – a receipt that you can take to the grocery store clerk to give you the cash (this method involves the $.098 process fee) or in gift certificate form (FREE). I opted for Lowe’s since I knew I had an upcoming office painting project. The receipt printed out and provides you with an itemized count of the number of dollars, half-dollars, quarters, dimes, nickels, and pennies it counted. My grand total was $92.88.

Here is a picture of a sample receipt.

This past weekend I took my Coinstar receipt with my Lowe’s gift card information printed on it to Lowe’s to redeem it. I was slightly worried there would be a problem with it, but no problems and my loose change bought $92.88 in painting supplies. LOVE IT and no rolling! I highly recommend you check out Coinstar. You can check to find the nearest Coinstar location here. Kids will love this also – encourage them to keep their change, they can help putting the coins into the machine, and then they can buy something they want at a sponsoring store.

I will continue to save my coins and ruthlessly scavenge for loose change and will definitely be using the Coinstar service again. I mentioned the service to my Dad (he still rolls his coins and takes them to the bank) and I think he is going to give it a try. He easily could have $300+ of coins ready to be rolled/counted as I type this and he is a weekly Lowe’s shopper so I know it will come in handy πŸ™‚ Give it a try! Yea for Coinstar!

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4 Responses to “Monday’s Money Saving Tip – Save your Coins”

  1. Thanks for sharing this. My husband keeps his coins and they are starting to get out of hand. He also doesn’t want to pay the CoinStar fee, so this is a great option!

  2. Oh, that’s cool! We’ve used Coinstar a couple of times, but it’s been a while and I didn’t know about the gift cert. option.
    Thanks for joining!


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