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Saving Coins

Last post Thu, Jan 20 2011 10:30 AM by whitney37354. 36 replies.
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  • Fri, Apr 16 2010 9:57 PM

    • Brandy
    • Top 10 Contributor
    • Joined on Wed, Mar 28 2007
    • Saving in South Mississippi
    • Posts 25,145

    Saving Coins

    "Ten of thousands of people place their extra change into a jar or bank every night when they return home thinking that they are saving money. In reality, the dynamics of saving coins has changed over the last 10 years so that by placing your extra coins in a jar, you may actually be losing money."

    Quoted from The Money Jar Trap

    I disagree with the author but then I am not paying any money or losing any by saving my coins. How about you?

     

    The Dollar Stretcher Community Manager



  • Fri, Apr 16 2010 10:16 PM In reply to

    Re: Saving Coins

    I also disagree with the author. We count & wrap our own coins using wrappers that our banks gave us for FREE. Plus where we bank, they will deposit our change (CASH) into either our checking or savings, whichever we choose, or they will simply exchange paper money for our rolled coins. I am sure that there are plenty of banks that do charge for counting coins, etc. but ours does not.

    ~*~Angie~*~

  • Fri, Apr 16 2010 10:53 PM In reply to

    • Lee
    • Top 75 Contributor
      Female
    • Joined on Thu, Jul 23 2009
    • Texas
    • Posts 1,356

    Re: Saving Coins

    Our bank doesn't charge to use the coin counter as long as you are a customer of the bank. They also have a program you can sign up for, that every time you use your debit card they will round it up to the nearest dollar and deposit that amount into your savings account. We've saved quite a bit by doing this.

    I've seen those coinstar machines and I can't imagine paying a store 10% for letting me use the machine. That's crazy.

  • Fri, Apr 16 2010 11:08 PM In reply to

    • Brandy
    • Top 10 Contributor
    • Joined on Wed, Mar 28 2007
    • Saving in South Mississippi
    • Posts 25,145

    Re: Saving Coins

     The bank we are with does not charge their customers for taking coins but they don't give out rollers. 

     

    The Dollar Stretcher Community Manager



  • Fri, Apr 16 2010 11:41 PM In reply to

    Re: Saving Coins

    My bank doesn't charge account holders to run coins through the counter, but they reserve the right to ask you to come back if they're really busy.
  • Sat, Apr 17 2010 12:19 AM In reply to

    Re: Saving Coins

    I buy coin rolls at the Dollar Store, I find them easier to use than coin wrappers. I take my wrapped coins into the Bank I deal at. I am not aware of any local Banks charging to accept coins. I would be very upset if Banks started charging me. I am in the habit of saving change especially for Christmas presents & little treats for myself.

     

  • Sat, Apr 17 2010 1:04 AM In reply to

    • gayla50
    • Top 10 Contributor
      Female
    • Joined on Mon, Sep 24 2007
    • Western North Carolina
    • Posts 8,491

    Re: Saving Coins

    SavySenior can you get coin wrappers from the bank ..

    we save coins and small bills in our jars ...  last year we took 28 jars in we spent it on the assisted living center/ and nursing home  we  built the Florida room and the water garden 

    Gayla

    Officially Recognized Stretchpert in Frugal Food and Cooking and in Slow Cooker Foods



    Purpose is what gives life a meaning
  • Sat, Apr 17 2010 4:27 AM In reply to

    Re: Saving Coins

    gayla50:
    28 jars
     

    wow!! how big were the jars! Smile

     

    the credit union where I go has a coinstar in the lobby and is free to members so I will save up coins (and pick them up when I do see them) ... and from what my dbf says, no charge at his bank 

    I'm not confused. I'm just well mixed. ~Robert Frost
    Laziness may appear attractive, but work gives satisfaction. - Anne Frank
    I can do all things through Christ who strengthens me. Philippians 4:13

    Married my Blessing 10-16-10 :)
    Became an Auntie 12-10-10 :)
  • Sat, Apr 17 2010 7:00 AM In reply to

    • lynn
    • Top 150 Contributor
      Female
    • Joined on Sat, Apr 19 2008
    • NC
    • Posts 267

    Re: Saving Coins

    No charge at my bank but I roll them myself anyway . I work at a school and I am always finding change in the hallway and the parking lot . Its usually a penny but it  adds up over a years time .
  • Sat, Apr 17 2010 7:40 AM In reply to

    • Toni B.
    • Top 25 Contributor
    • Joined on Sat, Apr 5 2008
    • Seneca Falls NY
    • Posts 3,826

    Re: Saving Coins

    We have all the time in the world to roll coins so we don' t bother with coin counters. We put in an average of $20 in coins a month into our accounts. May not be a lot but we aren't losing money on it.
    Officially Recognized Stretchpert in Stages of Life
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